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[size=36]The Central Bank: Our cash reserves exceeded $70 billion[/size]
Economie| 10:20 - 19/04/2022
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Baghdad - Mawazine News
The Central Bank of Iraq announced that its cash reserve has risen to more than 70 billion dollars, while noting that its initiatives to support the economic sectors amounted to 15 trillion dinars.
Deputy Governor of the Central Bank, Ihsan Al-Yasiri, said, "One of the functions of the Central Bank is to monitor the banking sector," noting that "the government banking sector used to acquire 85 percent of the deposits of institutions and the public."
He added, "The economic function of banks requires the separation of ownership from management," noting that "the Central Bank has focused in the recent period on the behavior of banks."
Al-Yasiri continued, "We have more than 70 banks, 7 of which are governmental, and half of them are within the excellent level," stressing that "the banks face a major problem in law enforcement."
Al-Yasiri explained that "the risks of banks in loans increase by 30 to 40%."
He stressed that "the Central Bank's initiative for the housing sector is interest-free and the rest of the sectors in varying proportions," noting that "more than 46 trillion dinars are central bank loans to the Ministry of Finance."
He pointed out that "the 5 trillion initiative amounted to 9 trillion dinars, and all our initiatives amounted to 15 trillion dinars," explaining that "construction loans for citizens are without interest."
And he indicated that "the reserves of the Central Bank exceeded 70 billion dollars." Ended 29 / p. 87
The Central Bank of Iraq announced that its cash reserve has risen to more than 70 billion dollars, while noting that its initiatives to support the economic sectors amounted to 15 trillion dinars.
Deputy Governor of the Central Bank, Ihsan Al-Yasiri, said, "One of the functions of the Central Bank is to monitor the banking sector," noting that "the government banking sector used to acquire 85 percent of the deposits of institutions and the public."
He added, "The economic function of banks requires the separation of ownership from management," noting that "the Central Bank has focused in the recent period on the behavior of banks."
Al-Yasiri continued, "We have more than 70 banks, 7 of which are governmental, and half of them are within the excellent level," stressing that "the banks face a major problem in law enforcement."
Al-Yasiri explained that "the risks of banks in loans increase by 30 to 40%."
He stressed that "the Central Bank's initiative for the housing sector is interest-free and the rest of the sectors in varying proportions," noting that "more than 46 trillion dinars are central bank loans to the Ministry of Finance."
He pointed out that "the 5 trillion initiative amounted to 9 trillion dinars, and all our initiatives amounted to 15 trillion dinars," explaining that "construction loans for citizens are without interest."
And he indicated that "the reserves of the Central Bank exceeded 70 billion dollars." Ended 29 / p. 87
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