Research at the Central Bank of Iraq revealed a decrease in the ratio of non-performing loans to total credit.
The Department of Statistics and Research said that the ratio of non-performing loans to total cash credit witnessed a decline, reaching (6.3%) during the year 2023, compared to (7.2%) in 2022, while in 2021 it recorded (8.8%) and in 2020.
It reached (8.9%), and the department added that the ratio of non-performing loans to total deposits for the year 2023 recorded a rate of (3.2%) compared to the last three years, as it was recorded in 2022 (3.4%), while in 2021 it reached (4.9%) while It was (5.2%) in 2020.
The Central Bank of Iraq confirms that this percentage is an indicator of the efficiency of the Iraqi banking sector in its endeavor to develop its products and adopt new methods and advanced systems for granting credit and reducing the risks of default in accordance with the contexts followed globally.
Sudanese Advisor: The World Bank Plays A Positive And Supportive Role For The Iraqi Economy
Economy | 05:45 - 04/03/2024 Mawazine News - Baghdad, the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Wednesday, that the World Bank plays a positive and supportive role for the Iraqi economy, and its team in Baghdad represents the advisory arm for the government program.
Saleh said, “The World Bank Group in Iraq launched its new relationship with our country in accordance with what was stipulated in UN Security Council Resolution 1483 in May 2003, and it is undertaking the task of mobilizing financial and technical assistance to support Iraq’s efforts to restore confidence in the economy, build its foundations, and reduce the burden of its debt, in cooperation with the Fund.” International Monetary.
He added, "After years of wars and conflicts that affected the country's infrastructure since the 1980s and Iraq's severance and isolation from the world and multilateral international organizations, the bank contributed by taking its active role after the year 2003, especially in managing a number of development financing funds for the benefit of our country's economy."
He continued, "This was done by managing the funds provided by donor countries to Iraq under the Madrid Donors Conference held in October 2003, or by contributing to supporting the private sector through the role assumed by the International Finance Agency (IFC) as one of the arms of the World Bank Group active with the private sector."
As well as through the Bank’s role in supporting some aspects of development and facilitating ways of stabilizing our economy, including providing soft loans provided by the World Bank to support the national economy on various occasions during the last twenty years, specifically during the dual financial and security crisis to confront the ISIS terrorist gangs and the decline in oil prices after... The year 2014.”
He added, "The World Bank also played a role in improving the governance of economic life and rebuilding the requirements of a more powerful and modern digital and development era for the benefit of our country in many areas, in addition to contributing to rebuilding livelihoods by enabling social welfare programs and providing them with plans and programs that address issues of combating poverty."
He pointed out, "The World Bank works closely with international partners to support economic reforms, specifically in the financial, banking, and public finance sectors."
Saleh continued, “The World Bank today is not only a financing institution, but rather a bank that provides knowledge and its tools based on its accumulated experience that has reached nearly eighty years.
Since its founding in 1945, Iraq was at the forefront of the founding countries of the World Bank Group and the International Monetary Fund, and this is how the bank is viewed.” The International Bank is currently considered an “information and knowledge bank.”
Great bank story…have had accounts at a regional bank in upstate New York for 54 years!
Phone rang Friday morning & a gal from the bank asked if we could set up an appointment to discuss & review my accounts-54 years & this is the 1st phone call from them, ever!!
I told her how interesting the timing is-asked if the bank is Basel 3-4 is compliant-oh yes, she says.
I commented that this no doubt has to do with meeting to set up review for our accounts with their “wealth managers”…yes, she says!!!!!
Welcome, everyone to the big call. It's Tuesday, April 2nd , and we're so happy you're here. and you can tell by Sue speaking in the place of Bruce that Bruce is, unfortunately, in absentia, And we're grateful to have Bob and I'm here to hold on the fort - we will be letting you know a little bit about why Bruce isn’t here in a moment. Why don't we open with a prayer.
So Bruce was not feeling well, I think he mentioned that on the call. yeah, on Thursday. And basically, and I'll do a little bit and then let Bob on give a little bit and then Bob will just fill in because we've been on Bruce's team at a distance right now.
Basically, he just got pretty severely dehydrated, And now he's with a private physician and getting treated and was not really really feeling the top notch and feeling well enough to be on the call . After we do the paperwork to do a prayer for Bruce
Brief Intel: 1:17:17
So our number one guy said that there are only – and this is important to know - there are only 19 people in the world that know when this is gonna go and that he was told that Charlie Ward has an insider's club. We heard about this online in my insiders clubs so to speak - and that he was on a call on Saturday and he was basically on blackout.
And he was saying essentially, when he is in blackout, it's very close -very close to going. And so our number one intel person said, Charlie being on blackout as of this Thursday last week was because the bondholders were moving - things were basically moving - in their world – they are still not liquid, but they are moving.
And so, we were told today that the bond holders that we know – should be getting their email tonight or tomorrow – and as soon as they become liquid – which could be tomorrow – or Thursday - and this is coming from our number one intel guy – we will get access to our 800 number
What we got also later - right before I was doing my leadership call was from a top person at Wells Fargo who said this could go any time between tomorrow afternoon and Friday morning. So that's Wednesday afternoon and Friday morning.
In addition to that, we heard that these smaller bond holders that we know should be receiving these emails, and they're expecting these emails at any point between tomorrow at around 11 to Thursday and to reinforce that – our number one guy got an encrypted message from …… well lets say he is connected to somebody very prominent – and very knowledgeable -
and he said, I'd love to tell you – but all I can tell you without getting my … ( use kind of an odd I'm not going to use it as kind of a extreme language statement) without getting my my something in a ringer as well. It should be going within one to two days, and that was at two o'clock.
So what you can tell from this is that everything is collecting around tomorrow afternoon to Thursday to Friday morning. That's coming from the top of Wells Fargo to this other person is connected to people that really know what's going on and probably connected to the 19 people that really know what's going on.
He says it should be in the next couple of days. And then the bond holders are expecting their emails and wanting to get that notification that they will be liquid between tomorrow and about 11 to Thursday, So we see somewhere between tomorrow just like the Wells Fargo guy said to Friday morning is our current window - our current window.
And that's pretty much Charlie Ward is on blackout. Everything really started to hustling on on Thursday last week when he went into blackout - we’re just waiting for the bondholders to get liquid - being told that they're about to be liquid, and then we will go anywhere from approximately 12 hours after that.
So as you can see things moving. Everything's moving in that direction. We also asked when there will be a political change in regard - and were told don't bother asking anymore. Nobody's going to tell you. So that's that – and that’s the intel for tonight - and I would say to be looking and keeping an eye on your emails for tomorrow afternoon to Friday morning - so just kind of end of the week.
There's nothing like the facts. Everything they're telling the Iraqi citizens is a fact because it's coming from the right sources.
[Report from #1 - his Iraqi bank owner friend in Iraq and in our opinion]
The HCL has been long done! ....Article 140 and the disputed territories, done! The redenomination at the onset, that rate is done! Awaiting nothing but the release and
The citizens of Iraq are not exchanging for the float. They're exchanging for purchasing power. That's all the Iraqi citizens get. They only get purchasing power of their currency which is everything to them.
"ABOUT THE STATEMENTS RELEASED BY GOI RELATED THE IQD" BY WALKINGSTICK, 17 MARCH
Walkingstick
There were a few statements released by the GOI officials regarding their currency. The coming value at the onset of the release was revealed. That value was disclosed at/in negotiations...
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[Iraqi bank friend Aki Update]
They had a zoom meeting. It was with the CBI, all other banks and US Treasury, IMF, everybody, they were all in this zoom meeting.
They told him a lot but the only important thing...was I was told once again, 'We need you to be back at the bank because at anytime you are going to be very busy.' Aki is just like you and I, sitting there waiting...
[Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan]
About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens .
They were very very precise pictures of the lower notes. It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested.
You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now ..
.The new software will be with them and the banks within this week.
[Iraqi Bank Friend called #1 Update - He owns 7 banks, 2 in Jordan]
About two weeks ago we told you IOO the banks of Iraq were going to be receiving sample sheets/specimens.
They were very very precise pictures of the lower notes. It turns out #1 has them. ..They started to practice and use them but they needed more help so they requested.
You will see this request on the CBI website probably within this week where they are requesting help with the security features in the small notes that they are practicing counting, sorting and training right now..
.The new software will be with them and the banks within this week.