Central bank decides to support banks five trillion dinars and finance the budget six trillion dinars

by **Ponee** Tue Jan 27, 2015 9:25 am

Alsumaria News / Baghdad,
the Iraqi Central Bank decided Tuesday commercial banks to support five trillion dinars and finance the budget six trillion dinars. The bank said in a statement, "Alsumaria News" received a copy of which was "in line with the central bank's tasks and responsibilities in supporting the development and stimulate the Iraqi economy, and agreed Management Board of the Central Bank, among the proposals made by the Bank's management, including specialized support liquidity of commercial banks in the amount of five trillion dinars to enable them to provide loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation. "

The bank said it was "also decided to finance public Budgeting state $ 6 trillion dinars run through 50% of the deposits of commercial banks reserves with the Central Bank of Iraq," noting that "he also decided to buy back treasury bonds from the secondary market, where the central bank will buy about ( 5) five trillion dinars first of those bonds as a stage. "

The bank said that "the actions taken by the Bank for upholding the private reserves of the Central Bank of Iraq." The prime minister for economic affairs adviser to the appearance of Mohammed Saleh, in (December 25, 2014) that the Bank of Aakarz government If the low budget Iraq General indicating the direction to activate the budgets of development banks and funds housing. The new law, the Central Bank of Iraq No. 56 for the year 2004 despite the objection of private banks on some of its articles, but he granted independence of the central bank's monetary policy in the administration of Iraq.

2015-01-27

http://goo.gl/48ACOk

by **Ponee** Tue Jan 27, 2015 9:26 am

Central Bank announces support liquidity banks to 5 trillion dinars

Tuesday 27 January 2015 | 13:31

Central bank decides to support banks five trillion dinars and finance the budget six trillion dinars NB-77478-635579515150838001

Central bank decides to support banks five trillion dinars and finance the budget six trillion dinars NB-77478-635579515150838001

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Among the proposals finance the state budget with a loan of $ 6 trillion dinars run through 50 percent of commercial banks' reserves deposited with the Central Bank

Qurtas News / Baghdad
The Board of the Central Bank, on Tuesday, agreed to support the liquidity of specialized commercial banks amounting to 5 trillion dinars to enable them to provide loans to industrial and agricultural loans and housing and real estate to support economic activity and job creation.
The council said a statement received "Qurtas News," "The House of the central bank's board approved the inter proposals in line with the duties and responsibilities in supporting the development and stimulate the economy in light of the financial challenges faced by the country."
He added that "funding proposals from within the state budget with a loan of $ 6 trillion dinars run through 50 percent of commercial banks' reserves deposited with the central bank."

He continued that "the proposals included the repurchase of treasury bonds from the secondary market, where the bank will buy about 5 trillion dinars, the first stage of those bonds," noting that "the" actions that have been taken does not affect the Bank's Special Reserve. "

Central bank decides to support banks five trillion dinars and finance the budget six trillion dinars

Central bank decides to support banks five trillion dinars and finance the budget six trillion dinars

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