Iraqi Central Bank reports surge in bank account growth
Shafaq News/ The Central Bank of Iraq (CBI) announced on Monday a significant increase in the growth rate of bank accounts over the past years in the country.
According to a CBI statement, the growth rate of bank accounts surged by 90% from 2018 to 2019, reaching a total of 12.5 million accounts.
The growth rate peaked in 2020, maintaining a 90% increase, with the number of bank accounts hitting 12 million. However, the rate dropped significantly in 2021 to its lowest level at 10%, totaling 1.5 million accounts.
The Central Bank highlighted a rebound in 2022, with a 30% increase, bringing the number of accounts to 4.5 million. This upward trend continued in 2023, with a 54% rise, resulting in 8 million bank accounts.