CBI sets a time limit for banks to reach their capital 250 billion dinars

14/06/2012 12:58

Baghdad, June 14 (Rn) - Iraq's central bank said Thursday that he set a time limit for all banks in Iraq to increase their capital and reached the roof of 250 billion dinars, indicating that the end of the selection is to improve the banking dealings.

And exceeds the number of banks in Iraq and 50 banks with more than 800 branches spread across the provinces, which still is a little number compared with the population.

The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) "We asked all banks in Iraq by increasing their capital to strengthen their dealings and give them loans more," noting that "the minimum capital duty and arrival at the next June is 250 billion dinars."

The Deputy Governor explained that "each bank should be present during June with a capital of 250 billion dinars ... banks currently seeking to increase their capital and the central bank is working to improve their work and not by the sword of Damocles."

Iraq has suffered from a decline in per capita share of banking services for up to a bank an average of one per 40 thousand people, is a big difference from what exists in neighboring countries.

The main task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.