Central bank: will set up a company to guarantee deposits with a capital of 100 billion dinars


 

 

History of edits:: 07/06/2016 21:1020 visits readable
{Baghdad} Euphrates News Central Bank said on Tuesday that “the cabinet’s approval of the draft prepared by the deposit guarantee system of the bank, will allow to establish a company to guarantee deposits with a capital of 100 billion dinars.”
The bank said in a statement received by the agency {Euphrates News} a copy of it today , “The Cabinet approved the draft guarantee deposits prepared by thebank system, under this system will be set up a company to guarantee deposits with a capital of 100 billion dinars, and includes the company ‘s private and government banks, and will put banks ratio specific deposits the company has away to ensure pay depositors in case of bank default or being subjected to liquidation. ”
He pointed out that” this would stimulate citizens to deposit their money in banks rather than Aktnazha who misses invest this money and stimulate the economy opportunities as well as risks to keep in houses ..hat of money chunky outside the banking system of more than 30 trillion dinars. ”
the cabinet has agreed on Tuesday to issue a guarantee bank deposits system that Dqgah Council of State based on the provisions of item III of theConstitution and Article IV of the Iraqi Central Bank Law No. 56 of 2004.anthy

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