Parliamentary Finance: the central bank is likely issuance of large coins

Parliamentary Finance: the central bank is likely issuance of large coins

Thursday 09 April 2015 09:38

Parliamentary Finance - the central bank is likely issuance of large coinsQurtas News / Baghdad

Parliamentary Finance Committee revealed on Thursday that the Central Bank is likely to issue a large coins in order to minimize the number, while showed that the Bank supports the merger of private banks.

Said committee member Majda al-Tamimi’s “Qurtas News” that “the Commission hosted the Central Bank officials two days ago, to discuss the work of the Bank and its relationship banks, as well as discuss the assets and net reserves of domestic credit and the net in the balance sheet of the bank, and the basis of cash and the impact of increasing oil reserves, which leads to reduce cash basis. ”

Tamimi explained that “the central bank justified the lack of implementation of the project to delete the zeros because this process does not reduce the size of the paper,” asserting “the benefit of the largest export categories to reduce the number, to maintain the value of the dinar.”

Tamimi pointed out that “the Central Bank supported the need for the integration of private banks and activation of banking activity, because most of the banks need to support and strengthen its credit and bank transactions.”

Parliamentary Finance Committee, headed by Ahmad Chalabi, the Commission and members of the Committee on April 6 the current central bank governor and his senior staff and hosted.

The banking system consists in Iraq from 43 banks, as well as the Central Bank, and distributed according to government ownership between seven and 30 waged, including the Islamic seven, as well as six foreign banks which is distributed by Branch 600 in the whole of Iraq.