Economic Event: Participation of the IBC Chairman & Deputy Chairman and Secretary General In the Joint Dialogue Seminar Organized by the Private Iraqi Banks Association
At the invitation extended by the Chairman of the Iraqi Private Banks Association, IBC Chairman Dr. Majid Saedi, Deputy Chairman and Secretary General Dr. Saad Naji and IBC Director General participated on Sunday March 21st 2021 in the Joint Electronic Dialogue Seminar organized by the Iraqi Private Banks Association under the title “The Impact of Covid-19 on the Financial Institutions”.
The Governor of the Central Bank of Iraq Mr. Mustafa Ghalib, the Governor of the Central Bank of Jordan Mr. Ziad Fariz, President of Bahrain Banks Association Mr. Adnan Yousif, and a number of Iraqi and Arab specialists and experts participated in the Seminar.
During the session, a number of topics were discussed such as; the impact of COVID-19 Pandemic on the financial institutions, the rise of defaulted debts, the method of dealing with them, how to attract investment to Arab countries especially Iraq and Jordan, in addition to the effects of the rate of exchange on attracting investments.
During the Seminar, the Governor of the Central Bank of Iraq Mr. Mustafa Ghalib spoke about a series of measures taken by the Central Bank of Iraq to confront the impacts of COVID-19 Pandemic on economy, indicating that the Pandemic has led to an increase in defaulted debts by 18% during 2020, which requires taking certain treatment measures that simulate the input of Iraqi reality; especially the security and legal inputs.
