Addressing the problems of the Iraqi financial system

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The financial system in Iraq consists of a group of institutions and structures that manage the financial and economic affairs of the country. Here are the components of this system in detail:

1. Central Bank of Iraq:

- Role: It is considered the body responsible for implementing monetary policy, issuing currency, and managing cash reserves.

- Objectives: price stability, exchange rate stability, and encouraging economic growth.

2. Commercial banks:

- Its types: include government banks such as Rafidain Bank and Rashid Bank, in addition to local and foreign private banks.

- Services: Providing loans, opening accounts, making money transfers, and financing projects.

3. Specialized banks:

Examples: Real Estate Bank, Agricultural Bank.

- Focus: Providing financial services to specific sectors such as agriculture and real estate.

4. Stock market:

- Iraq Stock Exchange (ISX): is the place where stocks and bonds are traded.

- Objective: To promote investment and develop financial markets.

5. Ministry of Finance:

- Role: Preparing and implementing the state’s financial policy, managing government revenues and expenditures.