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Iraq 's economy reveals the value of its assets at the Central Bank[/size]
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26 minutes ago
Iraq 's economy reveals the value of its assets at the Central Bank[/size]
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26 minutes ago
The Central Bank of Iraq governor Ali al-Alak on Thursday revealed the total assets in banks operating in the country.
"The total assets in banks operating in the country amounted to 200 billion dollars," Al-Aalak said in a speech at a session of the investment partnership in the forum of investment and reconstruction opportunities in Iraq.
He added that "the monetary credit provided by banks amounts to 30 billion dollars, and this figure is less than the credit of the contract," noting that "the central bank ordered the banks to amend the organizational structure and the establishment of risk units and combating money laundering and financing of terrorism and others, and the bank has developed the system of payments and will be launched soon payment Mobile phone ".
"Last year, we launched the unified system known as IBAN for all accounts. Iraq is one of the 47 countries in the world that implements this system, which facilitates the process of transferring money," he said.
He added that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."
He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price and this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment."
He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."
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