By John Lee.
The Central Bank of Iraq (CBI) has announced its strategic focus on enhancing the capabilities of the Loan Guarantee Company [Iraqi Bank Guarantees Company (IBGC)] to support the banking sector and "bolster financial depth."
Dr. Ammar Hamad Khalaf, Deputy Governor of the CBI, highlighted this priority during the 8th International Guarantee Conference in Baghdad.
Dr. Khalaf emphasised that sufficient loan guarantees are critical for boosting credit across large, medium, and small enterprises. He described loan guarantees as a pillar of financial stability, essential for fostering economic growth and creating jobs.
As part of its diverse strategy, the CBI has established a committee in collaboration with the Iraqi Private Banks League (IPBL) to improve the Loan Guarantee Company's performance. This initiative aligns with the CBI's National Lending Strategy, which focuses on financing small and medium-sized enterprises.
(Source: CBI)
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