Reassuring citizens, the Central Bank told NINA: We have ample cash liquidity.

[RJG]

Reassuring citizens, the Central Bank told NINA: We have ample cash liquidity.

Saturday 15, March 2025 | EconomyRead Counter 931

 

Baghdad / NINA / The Central Bank of Iraq (CBI) reassured the banking and community circles of ensuring the availability of cash liquidity to cover all local transactions in Iraqi dinars.


The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank is the last entity that can be without cash liquidity in Iraq."


He explained that "the Central Bank has wide scope to provide local currency to the extent that this currency is covered by foreign reserves, which currently far exceeds the level of local sufficiency, and more than we can finance."


He added, "There is frequent confusion between the position of the Central Bank, which is a completely different situation from the financial situation related to the financial policy in the country or the Ministry of Finance," indicating that "the Ministry of Finance's revenues are based in dollars through Iraqi oil sales in the global market."


Al-Alaq stressed that "the Central Bank deals in Iraqi dinars for all amounts it receives in dollars, and this is very available under any circumstances," calling for distinction and separation between the financial situation at the level of the government and the Ministry of Finance, and the availability of cash at the Central Bank of Iraq. / End 5

 

 

 

https://ninanews.com/Website/News/Details?Key=1192029

[screwball]

10 hours ago, RJG said:

Reassuring citizens, the Central Bank told NINA: We have ample cash liquidity.

Saturday 15, March 2025 | EconomyRead Counter 931

 

Baghdad / NINA / The Central Bank of Iraq (CBI) reassured the banking and community circles of ensuring the availability of cash liquidity to cover all local transactions in Iraqi dinars.


The Governor of the Central Bank, Ali Al-Alaq, said in a statement to the National Iraqi News Agency ( NINA ), that "the Central Bank is the last entity that can be without cash liquidity in Iraq."


He explained that "the Central Bank has wide scope to provide local currency to the extent that this currency is covered by foreign reserves, which currently far exceeds the level of local sufficiency, and more than we can finance."


He added, "There is frequent confusion between the position of the Central Bank, which is a completely different situation from the financial situation related to the financial policy in the country or the Ministry of Finance," indicating that "the Ministry of Finance's revenues are based in dollars through Iraqi oil sales in the global market."


Al-Alaq stressed that "the Central Bank deals in Iraqi dinars for all amounts it receives in dollars, and this is very available under any circumstances," calling for distinction and separation between the financial situation at the level of the government and the Ministry of Finance, and the availability of cash at the Central Bank of Iraq. / End 5

 

 

 

https://ninanews.com/Website/News/Details?Key=1192029

regardless of all the negative nellies, i feel this ride is coming to the end, rill on end of march early april!

[Theseus]

These are the same people who saw no tanks rolling into Baghdad on a split screen as tanks rolled into Baghdad. 

[jabez777]

Theseus: You are a poet and wise

[horsesoldier]

Don't care