Baghdad: The Parliamentary Finance Committee held a joint meeting today with Nabil Qais Mahmoud, the Director General of the Industrial Bank, to deliberate on the bank’s current operations, challenges, and strategies to bolster its support for the industrial sector.

According to National Iraqi News Agency, the discussions centered on the legal frameworks for contracting with companies and the standards used for this purpose. The committee also evaluated the financial allocations designated for the bank and assessed its profit indicators, which are crucial for gauging its financial and banking performance.

Nabil Qais Mahmoud provided insights into the Industrial Bank’s operations, detailing the mechanisms for delivering banking services amidst the ongoing financial crisis and monetary policy challenges. He highlighted the bank’s reserves and explained the reasons behind the suspension of lending activities.

The committee further examined the financing of industrial projects and the issue of non-performing loans. They requested detailed data via an official letter to assess the extent of these issues and the measures being implemented. Discussions also covered bank restructuring decisions, the implementation of a comprehensive banking system, and the potential for enhancing private sector participation to finance industrial projects, generate employment, and support economic development.