Central Bank Of Iraq (CBI) Plans Loan Guarantee Company
Date
5/14/2023 9:00:14 PM
(MENAFN- Iraq Business News)
By John Lee.
The Governor of Central bank of Iraq (CBI) , Dr. Ali Mohsen Al-Alaq, has met with a delegation of experts from the International Finance Corporation (IFC) , affiliated with the World Bank , led by Mr. Marcel Rashid.
The meeting focused on enhancing the relationship between the Central Bank of Iraq and the IFC, and a plan was devised to establish a loan guarantee company. This proposal aligns with the governor's comprehensive study aimed at building a national strategy for bank lending, with the Central Bank staff taking the responsibility to develop the strategy.
The loan guarantee company is expected to play a crucial role in stimulating lending by addressing the issue of loan defaults that the Iraq banking sector currently faces.
(Source: CBI)
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