Today, Friday, economic expert Ziad Al-Hashimi detailed the challenges confronting the Iraqi monetary and banking sector, pointing out that the Central Bank’s pressure measures on all banking companies, without distinguishing between those that are compliant and those that are not, creates real confusion in a monetary work environment that is not managed and monitored accurately and clearly. Because of the central bank.
“One of the fundamental challenges confronting the Iraqi monetary and banking sector is the inability of the Central Bank and local banks to create an effective and attractive banking environment with services at competitive costs that citizens can trust, and are able to provide flexible and smooth banking services, and encourage… Instead, citizens must interact with banks.
“In addition to the Central Bank’s inability, thus far, to adopt precise and specific standards and applications to evaluate the work and performance of exchange companies and distinguish between compliant and negligent companies,” he stated.
According to the economist, “this is what led to the Central Bank applying its pressure measures on all banking companies, causing harm and restrictions on companies that adhere to central controls and have an advanced level of compliance.”
According to Al-Hashimi, “this is what leads to real confusion and creates a state of uncertainty in a monetary business environment that is not managed and monitored accurately and clearly by the Central Bank.”