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ILO, CBI promote financial literacy in southern Iraq

Baghdad (IraqiNews.com) – Together with the Italian Agency for Development Cooperation (AICS), the International Labor Organization (ILO) and the Central Bank of Iraq (CBI) are working on empowering people and companies in southern Iraq with financial literacy skills.

A week-long program entitled ‘Towards Encouraging Savings to Enhance Financial Inclusion’ launched last week in the governorate of Al-Muthanna is in line with the CBI’s larger Financial Inclusion Week initiatives for 2024.

With the support of the ILO project ‘Towards More and Better Employment through Enhanced Support to Private Sectors in Southern Iraq with a Focus on Green Business,’ the initiative broadens the ongoing partnership between the ILO, AICS, and the Iraqi government to advance decent work, green jobs, and a sustainable future in the south.

The program aims to equip southern Iraqi citizens—especially women and young people—with the financial literacy skills they need to save, invest, and expand green enterprises, which boosts economic growth and generates decent job opportunities for everyone.

The AICS believes that financial inclusion is critical to creating a sustainable and inclusive future. With its assistance, the program is able to give people and companies the information and resources they need to properly engage in the financial system.

In order to make daily financial transactions easier and more efficient, the CBI aims to enable people and companies to access banking services through a range of channels, including digital apps and online services.

The CBI furthermore promotes the use of electronic payment instruments, such as bank cards and electronic wallets, in order to achieve swift and efficient financial integration.

During Financial Inclusion Week in southern Iraq, more than 500 young men and women participated in the programs.

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