Iraq is Making Financial Progress and Attracting investment: World Bank

On Sunday, the World Bank announced that Iraq has outpaced the success of financial coverage by 11 percent as compared to the Arab countries. A press statement issued by the World Bank, it indicates that Iraq recently showed hardworking with the financial inclusion system. It will continue progress in the financial and banking system of Iraq according to the most advanced working mechanism being adopted in most developed countries in the world. The statement further indicated that 11 percent financial system of Iraqi accounts are 27.3 percent in Tunisia, 24.6 percent in Jordan, 24.2 percent in the West Bank and Gaza, and 15.3 percent in Sudan. Point to be noted that Canada was the most prevailing country with prevalence of 99.2 percent. The UK and Australia were 98.9 percent, Germany 98.8 percent, and France & Japan at 96.6 percent prevalence. This financial coverage is known as Financial Spread. It has the banking system ability in providing banking services to a massive amount of society segments at acceptable costs.

Iraq is Making Financial Progress and Attracting investment: World BankIt can be expressed in various steps, such as the proportion of individuals over 15-years of age having bank accounts in the Iraqi banking system. It is important that at least 29.6 billion U.S dollars have been collected at the International Conference on Iraq Reconstruction. The Secretary-General of the Council of Minister, Mehdi Alalak said that Iraq has shown its satisfaction regarding the Kuwait International Conference. He said that the received amount during the Kuwait International Conference was expected. He pointed out that the standing of States with Iraq has shown the commitment of sacrifices in terminating the deadly terrorist organizations. He also indicated that Iraq is forming a national team to communicate with donor countries in order to finalize agreements regarding funds announced by these donor countries. These countries expressed their willingness to participate in Iraqi investment sectors and projects will be started after finalization of agreements.

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