Iraq to Withdraw 70 Percent of the Excess Liquidity
|May 22, 2010||Filled under All Dinar Trade Articles|
IRAQ- Emphasized the continuing support of housing projects, industrial and service
Baghdad, Taha Hussein. Bank of Iraq could pull a high proportion of surplus liquidity need for the local market as well as continuing to support projects of industrial, service and housing.
The general director of the bank Abdul Hussein al-Yassiri told a news conference attended by the “morning” that the bank has achieved an important work focuses on two aspects, namely the withdrawal of excess liquidity from circulation, and then put into the market again, and managed to withdraw 24.8 Trillion Dinars, representing 70 percent of the liquidity, referring to the The second aspect of the directions of the Bank is supporting projects its banking and industrial sectors, service and construction projects and the allocation of part of loans to farmers and the financing of housing projects, especially that the country needs to build more than three million housing units, noting that the bank allocated 6 Trillion Dinars for the purposes of housing, commerce and industry to by granting loans to the public sector as the Ministry of Electricity had granted a loan for the development of electricity and purchases of bonds and remittances in the form of two waves exceeded purchases totaling 4.8 Trillion Dinars, as well as giving companies and the Ministry of Industry more than a trillion 115 Billion Dinars, a contribution to the implementation of rehabilitation projects and the development of these companies , in addition to various loans granted by the Bank staff and employees in different state.
Speaking of housing loans granted by Iraq to the citizens of that the bank used Balakari as an owner of an experiment in granting housing loans to citizens Vakarz final amount exceeded 300 Billion Dinars, in addition to the prepared study how to grant housing loans by him directly, because the bank wanted to avoid the mistakes of the many international banks through the equation between the deposits and the type and between loans and advances, indicating the presence of short-term deposits and long-term and there are loans and short-, medium-and long-term bank, which has the right vision for the future must be prepared to this budget and gnawing on that basis, he put it. Director-General warned that the bank is still going to give people housing loans of 30 million dinars, indicating that the bank is required possession of the citizen who wants to get this loan to the land as a place for building the housing units more than others, as well as continue to grant loans that commercial and industrial.
Said that Iraq had put a ceiling for advances to exceed one trillion dinars and is currently studying the possibility of developing a new roof or the lifting of the ceiling he reached the bank in the previous stage.
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