Prime Minister Mohammed Shia' Al-Sudani addressed the Conference on Reforming the Iraqi Banking Sector on Monday, outlining an ambitious agenda to modernise Iraq's financial infrastructure and promote sustainable economic development.Key initiatives and achievements highlighted in the Prime Minister's address include:Implementation of a three-year national budget, enabling long-term planning and strategic investment in health, education, and infrastructure.Efforts to diversify revenue sources by automating customs with the Automated System for Customs Data (ASYCUDA) system and improving tax systems, resulting in a 128% increase in customs revenues and 22% rise in tax revenues.Structural reforms of Rafidain, Rasheed, Industrial, and Agricultural Banks, supported by an international consultancy firm.Enhancement of digital payments infrastructure and partnerships with leading fintech companies, facilitating broader access to financial services.Expansion of financial inclusion, with rates rising from 10% to over 40% in two years-an achievement recognised by the World Bank and IMF.Updated legislation on e-commerce and digital payments and nationwide campaigns to foster a digital payment culture.Continued support for SMEs through financing and resource allocation, contributing to job creation and economic growth.Al-Sudani reaffirmed that banking reform is a central pillar of his government's broader economic reform programme. He confirmed the launch of a comprehensive strategic initiative in collaboration with the Central Bank to align Iraq's banking system with international standards, strengthen global engagement, and attract new partnerships.He concluded by reiterating the government's readiness to support both local and international stakeholders in transforming the banking sector to drive economic progress and financial stability. (ICE AMMAN)

Fonte notizia: Stampa Locale