Central Bank Governor Nizar Nasser Hussein confirmed Sunday the absence of international sanctions on the banking sector, revealing the issued monetary mass stands at 107 trillion dinars. In a dialogue with economic specialists, Hussein noted ongoing banking sector reform, coordinated with
Oliver Wyman, asserting the cessation of sanctions and highlighting strong international trust in the Central Bank. He added that seven banks are expected to soon commence non-dollar transactions. Hussein assured that most Al-Taif Bank depositors' funds are guaranteed, with the Central
Bank prepared to intervene if any deficit occurs. He also cited investment in the United States as a unique safe haven granting immunity, cautioning against high risks in other nations. On monetary affairs, Hussein reported the issued monetary mass at 107
trillion dinars, with approximately 40 trillion circulating. He clarified that currency changes are a Central Bank prerogative, but removing zeros requires parliamentary legislation. Hussein concluded by affirming the current government's private sector management approach, stressing media's importance in improving the country's
international image, and announcing new lending initiatives for vital projects.
