Iraq’s Central Bank Reports 5.4% Increase in Banking Sector Loans
The Central Bank of Iraq has announced a notable 5.4% increase in the volume of loans and predecessors in the banking sector for the last quarter of 2024. This uptrend signifies enhanced financing capabilities for both individual borrowers and businesses.
According to the Central Bank’s latest statement, the total value of loans and predecessors reached 64.12 trillion dinars, up from 60.81 trillion dinars during the same period in the previous year.
This growth trajectory underscores a stimulation in economic activity, further enhancing the financing capacity for investment and commercial initiatives. Such developments are expected to contribute significantly to the creation of new job opportunities across various sectors.