policy
Parliament Speaker, Mr. H. Al-Halbousi, affirmed on Sunday his full support for the visions and directives adopted by the Central Bank of Iraq. This came during his reception of the Central Bank Governor, Mr. N. Hussein, and his accompanying delegation, where both parties discussed issues related to monetary policy, the banking sector, and ways to enhance monetary and financial stability, as well as developing the performance of the banking sector and raising the efficiency of financial institutions in line with future requirements. Al-Halbousi emphasized the importance of continuing efforts to update and develop legislation pertinent to banking and financial operations. This, he stated, would provide an appropriate legal environment for implementing reforms and keeping pace with economic and technological developments. He also affirmed the Council of Representatives' readiness to support the necessary legislative amendments to achieve these objectives, highlighting the importance of accelerating digital transformation steps in both the banking and financial sectors. He called for expanding the use of technology and digital financial solutions to foster financial inclusion, enhance the efficiency of banking services, and reduce cash transactions, thereby contributing to increased transparency, combating money laundering, and curbing financial corruption. Furthermore, he stressed the necessity of strengthening coordination between the legislative authority, the Central Bank, and relevant government entities. This coordination aims to unify efforts in addressing financial and banking challenges, supporting the investment environment, stimulating the private sector, and achieving sustainable economic growth. For his part, the Central Bank Governor outlined the Bank's key directions and plans for developing the banking sector, promoting digital transformation, and enhancing financial services, underscoring the importance of institutional and legislative cooperation to achieve the desired goals.
