Shafaq News-Baghdad
Iraq's CentralBank (CBI) approved a broad restructuring of its organizational framework,upgrading its Directorate of Non-Bank Financial Institutions Supervision to afull general directorate as part of efforts to strengthen oversight and improveinstitutional performance.
According to anofficial document, the restructuring includes transferring the Operations andSettlements Department from the Information Technology and Payments Directorateto the Accounting Directorate, while policy, regulatory, digital solutions andfinancial services units will be moved to the newly established Directorate ofNon-Bank Financial Institutions Supervision.
The bank alsorenamed the Information Technology and Payments Directorate as the InformationTechnology Directorate and abolished its Financial Inclusion and InformationSecurity departments, redistributing their responsibilities among existingdirectorates and the Risk Management Department.
In addition,CBI dissolved its office responsible for coordinating branch operations,placing its branches in Basra, Mosul, and Erbil under the direct supervision ofthe deputy governor. It also introduced changes to reporting lines within itsquality management and institutional development departments.
Therestructuring is scheduled to take effect by July 30, with the Human ResourcesDirectorate tasked with reallocating staff in line with the new organizationalstructure.
