Central Bank: the public retains 85% of the money circulating in the market

Central Bank: the public retains 85% of the money circulating in the market

February 16, 2016

Central Bank - the public retains 85 percent of the money circulating in the marketIraqi Central Bank announced on Tuesday that 85% of the money circulating in the market are among the public, and as he pointed out that the State-owned banks account for most of the financial reserves of the deposits of the public, he stressed that the Ministry of Finance refuses to increase the benefits.
The general director of Issue Directorate safes in the bank Central Ihsan Shomran in a press statement that “the trading day in the market of the Iraqi currency of 38 trillion dinars, of which 85% of the public and 15% with the banking system,” noting that “the money in the public part of the trade and other chunky.”

He Shomran, that “the Central Bank is trying to encourage the public lures him certain items as tools to issue bonds and remittances until he gets on the dinar from the public, but that it depends on the Ministry of Finance, which owns the largest banks, which account for the largest financial reserves of public deposits, which must convince the public to give high interest rates, but the last to reject the increase. ”

Confirmed Shomran, that “the bank thinks luring the public to withdraw the dinar through the benefit of 15% of the national financial bond status, but the Finance Ministry is reluctant and unenthusiastic,” pointing out that Iraq must cross the stage and on the financial respond to pressure the bank to issue bonds to solve the problem of the country. ” .