Central government directed banks to buy government bonds and discount $ 3.5 trillion dinars

by **Rocky** Mon 20 Jun 2016, 9:52 am

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Central government directed banks to buy government bonds and discount $ 3.5 trillion dinars

by Rocky Mon 20 Jun 2016, 9:52 am

Central government directed banks to buy government bonds and discount $ 3.5 trillion dinars

Mon, June 20, 2016 15:11

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BAGHDAD / Baghdadi News / ..

Iraqi Economic Council revealed on Monday for the central bank under the guidance of government banks buy and deduction of all government bonds which will be issued and paid for private sector companies, amounting to 50% of total receivables, down payment first, and the total amount it amounted 3.5 trillion almost dinars.

The head of the Iraqi Economic Council, Ibrahim al-Baghdadi, in a statement received / Baghdadi News / copy of it, "the CBI against three government banks (Rafidain and Rasheed Iraqi and commercial) to provide promised to buy and deducting all the special government bonds to pay private-sector benefits."

He said al-Baghdadi, that "the central bank face three government banks Rafidain and Rasheed and commercial tbi purchase and deduction of all government bonds which will be issued and distributed to private companies instead of late financial dues for these companies,"

pointing out that "the central bank decided on Sunday that the three government banks above purchase and deduction of all government bonds which will be issued and paid for private sector companies, amounting to 50% of total receivables, down payment first, and for a total amount of its 3.5 trillion dinars, almost. "

He explained that he "will be liquidated into cash to be this step rewarding and meaningful to private companies after the great damage to this vital sector, as a result of the delay in payment of dues by the government, and expressed his hope" that these funds contribute to cover a large part of the scarcity of liquidity cash,

where would move the wheel and the movement of financial trading in all markets, adding that it will solve many of the social and tribal and legal problems. "

The head of the Economic Council, that "the central bank pledged to the banks that will cover any need or lack of liquidity has for the purpose of completing the acquisitions and deducting all of the owners of these bonds"

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