Mnt Goat

  In Mnt Goat

Article: “THE CENTRAL BANK HOLDS A MEETING WITH THE IRAQI BANKING SECTOR” Quote: “the importance of developing banking services and products in the next stage.”  So, what does this mean? To me it means that when they end the currency auctions the banks will need other means of generating revenues to survive. Right now, they rely on nearly 90% of their bank revenue from the spread $$ from the currency auctions. To end the auctions, the CBI must find other means for the banks to survive and profit. They also need a plan to get the salaries into the bank to create liquidity for loans, etc. So, this is all good news, however we have been hearing this for years already but nothing is ever done about it. Let’s hope it’s different this time.