The Executive Director of the Civil Banks reported to the Association of banks-civil Hasson, that the Central Bank of Iraq (CBI) faces a letter to the banks for enlarging their work through the introduction of modern systems and the use of tech. Hassoun also added that the Central Bank passed a resolution committing all governmental and civil banks using the sophisticated banking systems for maintaining speed along with the worldwide banks.
He also stated that this decision will help in developing the banking sector and on to compete in world markets, in addition it will help to attract the foreign investment and contribute to the development process. Iraq’s banking system consists of forty-three banks as well as the Central Bank and distributed by the property 7 and 30 Al Ahli Bank including 7, in addition to Islamic banks, 6 foreign banks.
Source: [IKH News]