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The Central Bank finances the construction of 23 thousand housing units
First 2024/08/05
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The Governor of the Central Bank, Ali Mohsen Al-Alaq, stated yesterday, Sunday, that our foreign currency reserves are sufficient to create balance in the market. Al-Alaq explained, in a statement, that "the Central Bank sells more than 250 million dollars daily to meet the requirements of foreign trade," indicating that "85 percent of foreign transfers are currently taking place between Iraqi banks and correspondent banks, without going through the US Federal Reserve." He pointed out that "the housing initiative is of great importance to the bank, and that the volume of loans granted within the real estate initiative amounts to 10 trillion dinars," adding that "the Central Bank is now moving to cover the financing of the construction of 23,000 housing units, and priority will be given to completed housing complexes."
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