Central Bank of Iraq (CBI) plans Loan Guarantee Company

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)

One Response to Central Bank of Iraq (CBI) plans Loan Guarantee Company

  1. KHALID ISMAIL 15th May 2023 at 07:18 #

    NOT A GOOD IDEA, The country just started breathing Iraq is not in a position to lend money
    try to increase your Treasury in order to increase the value of the Iraqi Dinar so people can trade with foreign country

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