Monetary Policy Rate and Reactivation of Financial Instruments

Based on the directions of monetary policy aimed at achieving targeted inflation rates in a manner that aligns with expected economic growth rates and supports the policy of deposit development and increasing credit ratios targeting projects, relying on a data-driven approach from the banking sector, the Board of Directors of this bank has decided the following:

1. Reducing the monetary policy rate to 5.5% instead of 7.5%.
2. Reactivating financial instruments (Islamic deposit certificates and traditional }CBI bills) according to an annual plan with two terms:
   • 14-day term with a yield of 4%.
   • 182-day term with a yield of 5.5%.
   • The maximum investment limit shall not exceed 50% of the total private sector deposits held by the bank. These deposits must be sent to the Open Market Operations Office via the weekly liquidity management form within the (BSRS) system. Data submitted two weeks before the auction date will be used. If a bank exceeds the stated limit, it will be denied the auction yield.
   • The investment ceiling for a single auction shall not exceed 500 billion IQD.

For further inquiries, you may contact the office via email at (omo.office@cbi.iq).