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[size=45][size=41]Local bank deposits with the Central Bank exceed the 40 trillion dinars barrier[/size]
4 hours ago
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4 hours ago
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Today, Saturday, the head of the Iraq Future Foundation for Studies and Economic Consultations, Manar Al-Obaidi, announced that the deposits of local banks with the Central Bank of Iraq have exceeded the 40 trillion dinars barrier.
Al-Obaidi said, in a report that “for the first time, deposits of local banks with the Central Bank of Iraq exceed the 40 trillion dinars barrier, representing 22.5% of the total liabilities of the Central Bank, with an annual growth rate of 36.5% compared to last year.”
He added that "the value of the issued currency remained within the barrier of 82 trillion dinars, representing 47% of the total liabilities of the Central Bank, with an annual growth rate of 9.7% compared to the same period last year, and then deposits of government institutions, amounting to 21 trillion Iraqi dinars, which represents 12% of the total The liabilities of the Central Bank of Iraq with a growth rate of 420 percent compared to the same period last year.
He stressed that "the rise in local banks' deposits with the Central Bank and their exceeding the barrier of 40 trillion dinars indicates the improvement in the level of financial inclusion in Iraq, which contributed to the increase in the assets of monetary banks and their deposit with the Central Bank, which illustrates the success of the policy of the Central Bank of Iraq in the strategy of financial inclusion, which contributed to the arrival of deposits The local banks of the Central Bank of Iraq have reached this level.”
And he continued, "The total assets of the Central Bank of Iraq until the end of the month of 8 amounted to about 178 trillion Iraqi dinars. These assets were distributed among:
- Securities worth 68 trillion dinars
- Dues from the Ministry of Finance amounting to 44 trillion dinars
- Gold and cash reserves worth 27 trillion dinars
- Deposits with central and foreign banks amounting to 27 trillion Iraqi dinars
- Loans for financing small and medium enterprises worth 9 trillion Iraqi dinars
He explained that "this is the first time in the history of the Central Bank of Iraq that its assets reach the barrier of 180 trillion Iraqi dinars, and it is expected that the barrier of financing loans for small and medium enterprises until the end of the year will exceed the barrier of 12 trillion Iraqi dinars."
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