The aim of this study, through economic analysis, was to review traditional quantitative tools, which include open market operations, discount rate, and reserve ratio, as well as innovative tools such as quantitative easing and banking facilities. The research started from the hypothesis that there is no relationship between traditional monetary policy tools (open market operations, discount rate, reserve ratio) as independent variables and Iraqi banking credit as a dependent variable. Supposedly, there is no relationship between the newly established quantitative tools (quantitative easing, banking facilities as an independent variable, and banking credit as a dependent variable) due to the importance of the role played by the central bank in managing the credit variable and achieving economic and monetary balance. The central bank decides the areas of cash balance usage, lending rules, and banking legislation in order to ensure the safety of granted loans, guarantee satisfactory returns, and develop its activities while providing continuous supervision in the lending process at its various stages. Furthermore, the process of granting credit is affected by economic, political, security conditions, and the nature of the economic cycle. Therefore, the central bank has a role in stabilizing the financial aspect of the economic situation. The inductive method was used to describe and analyze the research topic, while the deductive method was used to measure the relationship between variables. The research reached a set of conclusions, the most important of which is that there is a long-term inverse relationship between the policy rate, open market operations, credit facilities, banking credit, and the legal reserve.