Central Bank issues eight decisions after discussing current situation[You must be registered and logged in to see this image.]
Thursday 09 April 2020 - 21:16
Central Bank issues eight decisions after discussing current situation
The Central Bank of Iraq announced thursday that the Bank's Board of Directors issued 8 resolutions after discussing the current situation at a meeting chaired by Governor Ali Mohsen Ismail.
The Central Bank of Iraq said in a statement received by its media office (consciously) that it was decided to continue the work of the Central Bank and banks in accordance with the exception issued by the competent authorities, and to resume the meeting of external transfer requests through the window to meet the requests of citizens and the government normally during the period of the embargo.
He added that it was decided to postpone the implementation of the penalties and fines imposed on banks, for a period of three months, starting from 1/4 to 30/6/2020.
The Central Bank said that in order to support the process of deferring the payment of installments on all citizens' loans (for three months), it was decided to support the liquidity of banks by reducing the ratio of their legal reserves to 13% and for a period of six months.
He said that banks, if the curfew continues, should re-establish their activities in full, taking into account the reduction of the number of employees working there and the introduction of health safety measures in order to ensure the implementation and satisfaction of the necessary work of citizens and state institutions.
He added that it was decided to continue the operation of all the activities of the payment system on a daily basis, pointing out that the commission of traders, when using electronic payment tools, was postponed for six months.
The Central Bank indicated that it was decided to resume the investment window of the open banks of the Central Bank.[You must be registered and logged in to see this link.]