THE ASSETS OF THE CENTRAL BANK OF IRAQ AMOUNT TO 207 TRILLION DINARS.. WHAT DOES THIS MEAN?
The assets of the Central Bank of Iraq rose to 207 trillion Iraqi dinars, according to a new economic statistic seen by Al-Sumaria News.
According to statistics published by the head of the Future Iraq Foundation for Economic Research and Consultation, Manar Al-Obaidi, the assets of the Central Bank of Iraq are as follows:
* Securities and bonds, 71 trillion Iraqi dinars
* Debts to the Ministry of Finance, 45 trillion Iraqi dinars.
* Balances with external banks 26 trillion Iraqi dinars
* Balances with external central banks 24 trillion Iraqi dinars
* Loans granted within the Small and Medium Enterprises Initiative 12.6 trillion dinars
* Existing gold reserves 12 trillion dinars
* Accounts with international organizations 12 trillion Iraqi dinars
* Foreign exchange reserve there are 443 billion dinars in the bank’s coffers
* Balances in local banks are 153 billion dinars
* Total assets are 207 trillion Iraqi dinars.
Bank assets: Also called “bank assets,” it means everything the bank owns that can be converted into liquidity in time of need. This includes various physical assets such as banks, loans, reserves, the bank’s deposits with third parties (with other banks), and investment securities; As well as the cash in the bank’s vault.
In conjunction with this statistic, the Central Bank announced, today, Wednesday, that the volume of deposits in the banking sector had increased to 131 trillion dinars and the volume of foreign reserves to 148 trillion dinars.
Deputy Governor of the Central Bank, Ammar Khalaf, said in his speech during the opening of the eighth annual exhibition and conference for finance and banking services in Iraq, that “last year witnessed clear growth with most monetary changes, including an increase in the volume of deposits in the banking sector from 129 trillion dinars in 2022 to 131 trillion dinars in 2022.” 2023, as well as an increase in private sector deposits in the banking system from 54 trillion dinars to 55 and a half trillion dinars, in addition to an increase in the volume of credit in the banking sector from 60 trillion to 69 trillion dinars in 2023, in addition to an increase in credit to the private sector from 35 to 40 trillion dinars. In addition to the increase in the volume of foreign reserves from 140 to 148 trillion dinars.
He continued, “The efforts led by the Central Bank of Iraq in cooperation with the government, especially with regard to expanding the use of electronic payment tools, as there was a clear rise and growth in electronic payment tools in Iraq, as the number of POS points of sale increased from 10,000 devices in the year 2022 to more than 20,000 devices in the year 2023, and the number of ATMs increased from 2,223 devices in the year 2022 to about 3,000 devices in the year 2023, as for the number of electronic cards of various types. Its types reached about 16 million cards in 2022 and 18 million cards in 2023.”
He noted that “last year witnessed great cooperation between the government and the Central Bank, especially with regard to enhancing confidence in the national currency through various decisions issued by the Council of Ministers and the Central Bank.” He pointed out, “The Central Bank seeks to strengthen banks by increasing the capital of all banks from 250 to 400 billion dinars.”
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