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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Alaq reveals astronomical amounts outside the scope of banking dealings inside Iraq

    Rocky
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    • Post n°1

    Alaq reveals astronomical amounts outside the scope of banking dealings inside Iraq Empty Alaq reveals astronomical amounts outside the scope of banking dealings inside Iraq

    Post by Rocky Wed Mar 22, 2023 8:01 am

    [size=52]Alaq reveals astronomical amounts outside the scope of banking dealings inside Iraq[/size]
    • Today 09:54

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    Information/Baghdad..
     The Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed that there are more than 70 trillion dinars outside the banking system for circulation, indicating that this is a very large amount and represents a high percentage of the gross domestic product.   
     Al-Alaq said in an interview followed by "the information" that "bank lending is a basis for banking work with its returns, profits, and operation, or with regard to economic activities in its various forms, and that the Central Bank was a Pioneering in stimulating the lending capabilities of the banking sector, as we launched this year
    2015, perhaps the largest initiative in the history of Iraq, represented by the allocation of 5 trillion dinars for industrial, agricultural and housing projects, as well as one trillion dinars for small and medium projects. 
    Noting that "this initiative was able to contribute to solving the housing problem by providing lending to the housing sector." He stressed that "the sums that were lent through the banking system touched 13 trillion dinars, and we are working to evaluate these initiatives and benefit from the lessons and put them in the right directions," noting that "the focus of financing for the next stage will be towards small and medium enterprises, as well as with regard to projects or loans.” Renewable energy in an attempt to meet climate challenges and move seriously towards clean energy.
    He said, "The next stage will witness the development of a national strategy for lending, which will be jointly presented to the government and other parties, so that the question of their participation in supporting this plan will be to provide the necessary decisions and procedures." for its success," pointing out that "the indicators
    And the data indicates that the banking sector has reached the highest ceiling for lending because the percentage specified according to the instructions of the Central Bank is 70% of deposits, and the banking sector has almost reached this percentage, which requires that there be great efforts. .
    to attract deposits to the banking sector.
    And he warned that "there are more than 70 trillion dinars outside the banking system for circulation, and this is a very large amount and represents a high percentage of the gross domestic product, so it is necessary to focus in the next stage on finding the necessary means to activate the deposit movement through several procedures in this regard," pointing to the importance of reviewing banking services in quantity and quality, because banking services have come a long way despite the short life of some banks, but some of them have reached advanced stages and others still need to upgrade the level of banking services in different types and in the way of presentation.
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