THE ROLE OF FINANCIAL GOVERNANCE IN ACHIEVING ECONOMIC DEVELOPMENT IN IRAQ

Abstract

This study seeks to investigate the function of financial governance in attaining economic growth in Iraq, with special focus on commercial banks. The study presents the basic challenges with regards to Iraq commercial banks. Which include insufficient qualifications, inadequate financial resources, corruption, and lack of exposure to financial dealings among staff. The study applied descriptive analytic approach to survey 200 employees from the major commercial banks in the country. The finding displays that efficient implementation of financial regulation such as transparency, risk management and accountability can remarkably improve performance efficacy, foster economic development and reduce risks for sustainable economic enhancement. The study concludes and recommends that emphasis should be given to introducing strategies that can improve governance practices and promote long-term growth as well as discarding systemic challenges.