The assets of the Central Bank of Iraq amount to 207 trillion dinars.. What does this mean?

The assets of the Central Bank of Iraq amount to 207 trillion dinars.. What does this mean?

A recent economic data states that the Central Bank of Iraq’s assets have increased to 207 trillion Iraqi dinars.

The following are the assets of the Central Bank of Iraq, according to data released by Manar Al-Obaidi, the director of the Future Iraq Foundation for Economic Research and Consultation:

  • Protections and bonds, 71 trillion Iraqi dinars
  • Obligations to the Service of Money, 45 trillion Iraqi dinars.
  • Offsets with outside banks 26 trillion Iraqi dinars
  • Offsets with outside national banks 24 trillion Iraqi dinars
  • Advances allowed inside the Little and Medium Endeavors Drive 12.6 trillion dinars
  • Existing gold stores 12 trillion dinars
  • Accounts with worldwide associations 12 trillion Iraqi dinars
  • Unfamiliar trade save There are 443 billion dinars in the bank’s money chests
  • Balances in nearby banks are 153 billion dinars
  • Complete resources are 207 trillion Iraqi dinars.

Bank assets: Also referred to as “bank assets,” they are all of the assets owned by the bank that may be turned into liquidity when necessary. This comprises a variety of tangible assets, including cash kept in the bank’s vault as well as banks, loans, reserves, and the bank’s deposits with other banks and other parties.

Alongside this figure, the Central Bank declared today, Wednesday, that the amount of foreign reserves had reached 148 trillion dinars and the amount of deposits in the banking sector had climbed to 131 trillion dinars.

Representative Legislative head of the National Bank, Ammar Khalaf, said in his discourse during the kickoff of the eighth yearly presentation and gathering for money and banking administrations in Iraq, that “last year saw clear development with most financial changes, remembering an increment for the volume of stores in the financial area from 129 trillion dinars in 2022 to 131 trillion dinars in 2022.” 2023, as well as an expansion in confidential area stores in the financial framework from 54 trillion dinars to 55 and a half trillion dinars, notwithstanding an expansion in the volume of credit in the financial area from 60 trillion to 69 trillion dinars in 2023, notwithstanding an expansion in credit to the confidential area from 35 to 40 trillion dinars. Notwithstanding the expansion in the volume of unfamiliar stores from 140 to 148 trillion dinars,

he proceeded, “The endeavors drove by the National Bank of Iraq in collaboration with the public authority, particularly as to extending the utilization of electronic installment apparatuses, as there was an unmistakable ascent and development in electronic installment instruments in Iraq, as the quantity of POS retail locations expanded from 10,000 gadgets in the year 2022 to in excess of 20,000 gadgets in the year 2023, and the quantity of ATMs expanded from 2,223 gadgets in the year 2022 to around 3,000 gadgets in the year 2023, concerning the quantity of electronic cards of different sorts. Its sorts arrived at around 16 million cards in 2022 and 18 million cards in 2023.”

That’s what he noticed “last year saw extraordinary participation between the public authority and the National Bank, particularly as to improving trust in the public cash through different choices gave by the Board of Clergymen and the National Bank.” He brought up, “The National Bank tries to fortify banks by expanding the capital of all banks from 250 to 400 billion dinars.”