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The central bank draws three banks to buy and pay dues Contractors
6/20/16
The face of the Iraqi Central Bank, on Monday, three banks to buy discount reimburse contractors bonds.
The head of the Iraqi Economic Council, "Ibrahim al-Baghdadi," in a statement the Iraqi transmitter network received (IBN) copy of it, "the CBI brought three government banks Rafidain and Rasheed Iraqi trade, buy and deducting all the special government bonds to pay the private sector benefits, rather than the financial dues late for these companies. "
The statement said that "those bonds amounting to 50% of total receivables, and paid as a down payment and the total amount it amounted 3.5 trillion dinars, almost," noting that, "will be liquidated into cash, to be the move rewarding and meaningful to private companies after the extensive damage suffered by the this vital sector as a result of the delay in payment of dues by the government. "
He expressed the hope that "these funds contribute to cover a large part of the scarcity of cash, where would move the wheel and the movement of the financial markets, trading in all," noting, "It will solve many of the social and tribal and legal problems."
He pointed out that "the central bank pledged to the banks that will cover any need or shortage of liquidity that has, for the purpose of completing the acquisitions and deducting all these bonds from their owners."
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