Specific features of credit policy of Iraqi banks

Financial crisis and introduction of new international standards in compliance with the Basel III regulatory accord has led to an increase in the requirements of the Central Bank of Iraq to the banking sector. An important tool that reflects the efficiency of a commercial bank in terms of optimizing risks and lending is credit policy, which performs the following functions: setting goals; tasks, providing information support, etc. The relevance of this article lies in the increasing role of credit policy in achieving financial stability. The subject of this research is the modern credit policy of Iraq. The aim of the work is to identify the advantages and disadvantages of credit policy. The study examines specific features of credit policy of the Iraqi banks in the context of current economic conditions. The processes of formation and implementation of credit policy are considered. As a result of the analysis of the specific features of credit policy of the Iraqi banks over the 2009-2017 time period, the main issues of the development of credit policy of the Iraqi banks are shown and possible ways of their solution are proposed.