Governor of the Central Bank of Iraq: $ 200 billion value of assets in banks

Governor of the Central Bank of Iraq: $ 200 billion value of assets in banks

26/04/2018 02:04 PM

Central Bank of IraqThe governor of the Central Bank of Iraq, Ali Alalak, the total assets in banks operating in the country is 200 billion dollars.

Al-Alak said in his speech at the meeting of the “partnership in investment” within the forum of investment and reconstruction opportunities in Iraq, “The credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract,” noting that “the central bank ordered banks to modify the organizational structure and the establishment of units Risks, combating money-laundering, financing of terrorism and others “.

He added that “the central bank has developed the system of payments and will soon launch payment by mobile phone,” asserting “Last year we launched the common system known as the IBAN for all accounts and Iraq is one of the 47 countries in the world implement this system, which facilitates the process of financial transfer “He said.

He pointed out that “MasterCard will establish a school in Iraq to develop young people to use credit cards and others,” adding that “the inflation rate in Iraq does not exceed 2%.”

He pointed out that “the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price,” noting that “this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment” .

He pointed out that “the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities.”