The Central Bank of Iraq, disclosed the high assets of banks to more than 120 trillion dinars, which reflects the increase depositors’ confidence in banks.
According to the Iraqi Central Bank, the assets rose during the year 2018 by 10 percent compared with 2017, to exceed 120 trillion dinars or the equivalent of 100 billion dollars, explaining that this indicates the increased confidence of depositors in banks, which is positively reflected on the development of the banks’ performance and its contribution to the development of the Iraqi economy.
It also announced that its strategic actions contributed mainly to increasing confidence in the banking sector and improving the financial coverage, which reflected on the growth rate and the rise in bank assets and deposits steadily, showing that this increase was a result of mutual trust between the citizens and the banking system through the development of cash deposits’ and business operations attraction to banks.
Source: (Economic Bulletin website, Edited)
