Baghdad: Speaker of Parliament Haibat al-Halbousi met with Central Bank Governor Nizar Nasser Hussein to discuss monetary policy, the banking sector, and prospects for developing Iraq’s financial system. The meeting highlighted the importance of enhancing monetary and financial stability, improving banking sector performance, and increasing financial institutions’ efficiency to meet future requirements.

According to National Iraqi News Agency, the Speaker affirmed his support for the Central Bank’s vision and approach. He stressed the need for updating and developing banking and finance legislation to create a suitable legal environment for reforms. This update aims to align with economic and technological advancements.

The Speaker emphasized Parliament’s readiness to back necessary legislative amendments and pointed out the urgency of accelerating digital transformation within the banking and financial sectors. This transformation involves expanding technology use and digital financial solutions to promote financial inclusion, improve banking services efficiency, reduce cash transactions, enhance transparency, combat money laundering, and curb financial corruption.

Al-Halbousi also highlighted the need for strengthened coordination between the legislative authority, the Central Bank, and relevant government entities. This coordination is essential for addressing financial and banking challenges, supporting the investment environment, revitalizing the private sector, and achieving sustainable economic growth.

Governor Nizar Nasser Hussein outlined the Central Bank’s key directions and plans for developing the banking sector, enhancing digital transformation, and improving financial services. He emphasized the importance of institutional and legislative cooperation to achieve these goals.