CBI will Distribute Trillion Dinars to Iraqi Private Banks: Saleh

The Economic adviser to the Iraqi Prime Minister Haider Al-Abadi, Muhammad Saleh issued a statement that the Central Bank of Iraq has planned for issuance trillion dinars of loans to governmental and private banks. Saleh delivered his words in a press statement that the Iraqi Central Bank will distribute loans estimated in trillion Iraqi dinars to private banks having capability to control and manage it. He further added that this loan will be used for small, medium and enterprise level business that are actively participating in the Iraqi economic cycle. He pointed out that private banks have raised some complaints, but these issues will be solved by the Iraqi Central Bank. He also denied about any type of obstacles or delay in the distribution of loan. He indicated that this step will contribute in the development of Iraqi local economy and it would resolve the economic problems of Iraqi citizens.

CBI will Distribute Trillion Dinars to Iraqi Private Banks: SalehSaleh added that Iraqi government will support to the initiative of launching loans by the Iraqi Central Bank. The Governor of Iraqi Central Bank and his delegation arranged a number of visits in this week. These visits include a number of essential visits to private banks to find out major obstacles and supposed challenges experiencing by the banks to achieve their specific targets and to maintain financial and economic stability in the country. At the other hand, the exchange rate of the U.S dollar showed a slightly rise in the Iraqi currency markets. The price of the Iraqi dinar recorded on Thursday 10th Nov 2016 at 1310 Iraqi dinars per U.S dollar. The sale price was recorded at 1305 Iraqi dinars per U.S dollars and the purchase price was at 1295 Iraqi dinars per U.S dollar. Iraqi Central Bank is taking some major and important steps to maintain Iraqi dinar exchange rate against foreign currencies, especially against the U.S dollar.

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