Publication: Republic of Iraq: Financial Sector Review
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Date
2011
ISSN
Published
2011
Author(s)
Nasr, Sahar
Abstract
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.
Citation
“Nasr, Sahar. 2011. Republic of Iraq : Financial Sector Review. © World Bank, Washington, DC. http://openknowledge.worldbank.org/handle/10986/23965 License: CC BY 3.0 IGO.”