(Photo: Iraqi Presidency)
Monitor
President Rashid, Central Bank governor discuss banking reform and economic policy
BAGHDAD — President Abdul Latif Jamal Rashid met with Central Bank Governor Ali Al-Alaq on Wednesday at Baghdad Palace to discuss ongoing reforms in Iraq’s financial sector and efforts to strengthen the national economy.
In a statement, the Iraqi Presidency said the meeting focused on plans to modernize banking procedures and implement reforms aimed at addressing economic fluctuations and their impact on local markets.
President Rashid emphasized the need to “exert efforts and establish a solid future strategy for financial policy in a manner that supports the desired economic development,” according to the statement.
Statement from Iraqi Presidency:
President of the Republic, Dr. Abdul Latif Jamal Rashid, received today, May 7, 2025, at the Baghdad Palace, the Governor of the Central Bank, Mr. Ali Al-Alaq.
During the meeting, the current state of the Iraqi banking sector and the procedures necessary for its development were discussed, as well as the reform packages undertaken by the Central Bank to address economic changes and their effects on the movement of the local market. The President emphasized the need to exert efforts and establish a solid future strategy for financial policy in a manner that supports the desired economic development.
The meeting also discussed plans to revitalize the investment sector by supporting the private sector, especially since the country is witnessing notable stability on the security, political, and social levels.
For his part, Mr. Al-Alaq expressed his gratitude to the President and his valuable guidance, presenting the efforts made by the Central Bank and its future plans aimed at strengthening financial policy and economic stability in the country.
