CBI increases its capital to 5 trillion dinars

Economy

19-05-2022, 12:38

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Baghdad-INA

The Central Bank of Iraq announced Thursday an increase in its capital to 5 trillion dinars.

The media office of CBI said in a statement received by the Iraqi News Agency (INA) that "the Board of Directors of the Central Bank decided to increase the bank's capital from (3) trillion dinars to (5) trillion dinars."

It added, "This increase comes to enhance the results of its balanced policies with a conservative investment management, and to emphasize the importance of the bank's capital and its reflection on its financial position," noting that "the capital of central banks and their financial centers reflect the sobriety of these institutions, the solidity of their assets, and their ability to support the banking sector and the economic sector in general".

The office also added, "The increase was made using part of the profits achieved by CBI in 2021."