CBI: The transfer of cash reduced to 18 trillion dinars in June; Helped maintain price stability

CBI: System monthly payments over 18 trillion dinars 29/06/2012 14:04

Baghdad, June 29 (Rn) – The Central Bank of Iraq, Friday, that the system of monthly payments in Iraq exceeded 18 trillion Iraqi dinars, indicating that the system reduced the transfers of cash manually.

and Iraq has begun running the payments system since 2006 with the help of U.S. Treasury Under system of financial trading exchange between Iraqi banks under the supervision of the Central Bank of Iraq. and exceeds the number of banks in Iraq, the 50 banks and includes more than 800 branches spread across the provinces, which still is a little number compared with the population.

At the discretion of the CBI. Deputy Governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) that “the payments system in Iraq exceeded 18 trillion Iraqi dinars a month and this has reduced to a large extent the transfer of liquidity manually based on the principle of transfer between banks, according to the system of payments” .

The Deputy Governor of the Bank that “the payments system of systems developed in the banking business, even if can not run it to create a state of not being able to save money right time.”

The main task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and management of reserves foreign currency and the organization of the banking sector.