Central: 85% of the money circulating in the market are among the public

by **Ponee** Tue Feb 16, 2016 9:33 am

Alsumaria News / Baghdad
Iraqi Central Bank announced on Tuesday that 85% of the money circulating in the market are among the public, and as he pointed out that the State-owned banks account for most of the financial reserves of the deposits of the public, he stressed that the Ministry of Finance refuses to increase the benefits.

The general director of Issue Directorate and cabinets in the central bank Ahsan Shomran in an interview on "from the 10 of 11," which aired "Sumerian" channel, said that "the trading day in the market of the Iraqi currency of 38 trillion dinars, of which 85% of the public and 15% in the machine banking, "noting that" the money in the public part of the trade and other chunky. "

He Shomran, that "the Central Bank is trying to encourage the public lures him certain items as tools to issue bonds and remittances until he gets on the dinar from the public, but that it depends on the Ministry of Finance, which owns the largest banks, which account for the largest financial reserves of public deposits, which must convince the public to give high interest rates, but the last to reject the increase. "

The Shomran, that "the bank thinks luring the public to withdraw the dinar through the benefit of 15% of the national financial bond status, but the Finance Ministry is reluctant and unenthusiastic," pointing out that "Iraq must cross the stage and on the financial respond to pressure the bank to issue bonds to solve the problem of the country ".

And seeks the Finance Ministry in cooperation with the Central Bank to issue national bonds and put it to the public in order to bridge the shortfall in the current year budget, which amounted to 24 trillion dinars due to lower oil prices.

LINK--Central: 85% of the money circulating in the market are among the public