The Central Bank issues a statement on its annual financial stability report for 2021
September 07, 2022
The Central Bank of Iraq issued a brief statement on its annual private financial stability report for 2021, which included a set of financial and monetary indicators that reflect the performance of the Iraqi financial and banking sector, and diagnose challenges and opportunities for this important sector in the economy. The report indicated an increase in the growth of bank deposits amounting to ( 96) trillion dinars for the year 2021, an increase of (13.1%) over the year 2020, while bank credit in the public and private sectors increased to (80.62) trillion dinars for the year 2021, an increase of (7.1%) over the year 2020 . And that the indicators of financial inclusion improved through the adoption of the project (financial inclusion for a new economic beginning), and the report revealed an increase in the aggregate index of financial inclusion from (20.85%) in 2017 to (33.5%) in 2021, while the percentage of private sector credit in the output increased the gross domestic product to (13.4%) in 2021, and the aggregate index of financial stability in Iraq rose to (0.656) in the same year; As a result of adopting policies to achieve financial stability through the application of Basel requirements and International Financial Reporting Standard No. (9), as well as other requirements of the banking sector .
To view the detailed report ( click here )