Association of private banks: 76.89 trillion dinars value of deposits in commercial banks

Association of private banks: 76.89 trillion dinars value of deposits in commercial banks

2019/4/15 16:35



(Baghdad: Al Furat News) The Executive Director of the Association of Iraqi private banks, Ali Tariq, on Monday, the rise of government and private deposits in commercial banks operating inside Iraq to 76.89 trillion dinars during the year 2018.
"The government and private deposits in commercial banks increasedby 9.84 trillion dinars during the year 2018 because of the procedures of the Central Bank of Iraq in support of the Iraqi banking sector, both government and private, in addition to the elimination of Iraq from the financial crisis," Tariq said in a statement received by the {Euphrates News} Which hit him in 2014 because of falling oil prices and improved security after the elimination of the organization is urging, "noting that" deposits in 2017 amounted to 67.05 trillion dinars, while in 2018 rose to 76.89 trillion dinars. "
He added that "private sector deposits in commercial banks amounted to 27.36 trillion dinars, while government deposits amounted to 22.27 trillion dinars in addition to deposits of the public sector sector amounting to 27.26 trillion dinars."
He stressed that "the relationship between the citizen and the banking sector is witnessing a significant improvement after the actions of the Central Bank of Iraq, such as the settlement of salaries of employees in the public and private sectors and facilitate the procedures of bank cards and others."
He explained that "another factor is the integration of Iraq's global economy, which depends mainly on transactions with the banking sector in addition to the increasing geographical spread of banks through the increase in the number of branches after awareness programs, as well as increase the proportion of financial coverage through the provision of electronic payment tools and their impact In attracting the monetary bloc. "
He pointed out that "the coming years will witness an increase in deposits after the launch of the deposit insurance company by the Central Bank of Iraq."

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