CBI: Over the previous year, the cash credit ratio rose

INA-  BAGHDAD


The ratio of cash credit to total deposits in the Iraqi banking sector for the year 2023 has increased, the Central Bank of Iraq CBI announced on Monday.
 
The bank confirmed that "the percentage of cash credit to the total deposits of the Iraqi banking sector amounted to (52%) during 2023," in a statement obtained by the Iraqi News Agency (INA). This represents an increase from the previous year, which was 47% in 2022, and roughly 55% in 2021.
 
"Although the increase was documented, it did not surpass the standard percentage established by this bank, which stands at (75%)," it continued, adding that "the purpose of this percentage is to ensure that banks have enough liquidity to handle customer withdrawals and carry out financial banking operations."