The Central Bank of Iraq declared that, in comparison to the previous year, the proportion of cash credit to total deposits in the nation’s banking industry will rise in 2023.
“The percentage of cash credit to the total deposits of the Iraqi banking sector reached (52%) during 2023,” the bank said in a statement obtained by, confirming its climb from 2022, which recorded (47%), while in 2021 it was around (55%).
The Central Bank of Iraq claims that even though there was an increase, it did not surpass the standard percentage of 75% that this bank specifies, meaning that this percentage is meant to keep banks’ liquidity adequate to handle customer withdrawals and carry out financial banking operations.
