Iraqi Central Bank reports surge in bank account growth

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Iraqi Central Bank reports surge in bank account growth

The National Bank of Iraq (CBI) reported on Monday a huge expansion in the development pace of financial balances over the course of the last a very long time in the country.

As indicated by a CBI explanation, the development pace of financial balances flooded by 90% from 2018 to 2019, arriving at a sum of 12.5 million records.

The development rate topped in 2020, keeping a 90% increment, with the quantity of ledgers hitting 12 million. Notwithstanding, the rate dropped essentially in 2021 to its most reduced level at 10%, adding up to 1.5 million records.

The National Bank featured a bounce back in 2022, with a 30% expansion, carrying the quantity of records to 4.5 million. This vertical pattern went on in 2023, with a 54% ascent, bringing about 8 million financial balances.