Central Bank of the country: the process of development of government banks collide with the budget and allocations

The Director of the Central Bank in Basra Qasim Rahif, said Wednesday, that the process of developing and qualifying government banks to provide banking services to customers better collides with the budget and financial allocations.

Rahif said in his interview with the Murad that the process of development in terms of buildings, furniture and appliances is due to the conditions of the budget, and they are affected by the full impact of the economic situation of the country, unlike the civil banks that operate with specialized budgets.

He pointed out that the Central Bank has initiatives to rehabilitate government banks such as Al-Rashid and Rafidain to keep pace with current banking services, but these initiatives are still not implemented and the development process requires the approval and procedures of the Ministry of Finance in this regard.