Central Bank announces the establishment of the company to guarantee bank deposits


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said the Iraqi Central Bank, the establishment of a deposit guarantee in the government and private banks with a capital of 100 billion Iraqi dinars, and said the aim of its establishment is to motivate people to deposit their money in banks rather than Aktnazha. A statement by the Iraqi Central Bank said in a statement that " the Cabinet 's approval of the draft guarantee deposits prepared by the bank system, will be hereby establish a company to guarantee deposits with a capital of 100 billion dinars , and includes the company 's private and government banks , " noting that " the banks will put a certain percentage of the deposit the company , so as to ensure pay depositors in case of bank 's inability or being filtered . " the statement added that" this would stimulate people 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 their homes , "adding that "money chunky outside the banking system of more than 30 trillion dinars . " the Council of Ministers approved in its meeting, yesterday, to issue guarantees on bank deposits made ​​by the Iraqi Central Bank system, the Council of State and Dqgah with the failure to extend the government deposits in state banks the provisions of the system.