Iraqi banks account for 99% of government bonds
Economy Central Bank of Iraq Iraqi banks Bonds
A government source said on Monday that most bonds raised by the government buys banks through its monetary reserve at the Central Bank of Iraq. The citizens are only one percent of those bonds.
The central bank is eight and the other issuing bonds for the Ministry of Finance, for the purpose of financing some public expenditures, with sanitary bonds from two categories of Dinars and two million dinars.
"Banks are used for the bank's compulsory cash reserve, which ranges from 35 to 40% of its capital from 250 billion dinars for the purpose of buying the government's bonds through the central bank," said Shakfi News.
"99% of these bonds buys banks and one percent buying them," the source said. You will move by buying these bonds. "
The source pointed out that "the government puts bonds between time and the other to lack of financial liquidity for public expenditure," he said.