Republic of Iraq : Financial Sector Review
This report was initiated at the request of the Iraqi government to get a better understanding of the overall financial sector in Iraq. The main objective of the report was to develop a comprehensive assessment of the financial sector. This report...
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| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/2011/01/15434080/iraq-financial-sector-review http://hdl.handle.net/10986/23965 |
| Summary: | This report was initiated at the request
of the Iraqi government to get a better understanding of the
overall financial sector in Iraq. The main objective of the
report was to develop a comprehensive assessment of the
financial sector. This report takes a first look at the
overall financial system of Iraq with a forward looking
approach. Key findings of the report are: 1) Iraq's
financial sector is dominated by the banking system, with
most assets held by state-owned banks; 2) many private banks
are in the process of developing modern banking practices,
but still need further strengthening and consolidation; 3)
other financial markets are concentrated at the Iraqi stock
exchange but capitalization is low, and few instruments are
traded; 3) the insurance sector is small, dominated by
state- owned enterprises, and is not supervised; 4) weak
financial infrastructure is a clear impediment to access to
finance; and 5) Small Medium Enterprises (SME) and
microfinance is not well developed. |
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