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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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    For the first time since June 2023.. The Central Bank of Iraq reduces the interest rate

    Rocky
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    For the first time since June 2023.. The Central Bank of Iraq reduces the interest rate Empty For the first time since June 2023.. The Central Bank of Iraq reduces the interest rate

    Post by Rocky Sun 27 Oct 2024, 5:16 am

    For the first time since June 2023.. The Central Bank of Iraq reduces the interest rate
    • Time: 2024/10/26 16:16:12
       
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    {Economic: Al Furat News} The Central Bank of Iraq decided to reduce the interest rate and reactivate the use of securities in the country's banks, for the first time since June 2023.
    Useful summary.. In important news you can find it on Al Furat News channel on Telegram.. [You must be registered and logged in to see this link.]
    According to a document issued on Thursday by the Central Bank of Iraq and addressed to banks operating in Iraq, the bank decided to reduce the interest rate from 7.5% to 5.5%, in addition to reactivating the securities (Islamic certificate of deposit and money transfers) according to an annual plan and with two terms: with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days. 
    The maximum investment ceiling was set at no more than 50% of the total private sector deposits in the bank, and the bank’s investment ceiling in a single auction should not exceed (500) billion Iraqi dinars.
    This decision comes within the framework of the Central Bank’s preparations to end direct monitoring of financial transfers at banks, after launching an electronic platform in early 2023, which aims to enhance proactive monitoring of financial transfers. 
    According to an informed source in the bank, in a previous press statement, dealing in dollar transfers was limited to only six banks, while 13 banks will trade in other currencies, while the banks subject to US Federal Reserve sanctions remain under review by international auditing companies.
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