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Why do not you deposit some money in Iraqi banks?

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Why do not you deposit some money in Iraqi banks?

CA059FF3-E3E5-4190-8B83-00BDE6D78770_w26Automatic exchange machine in one of the Iraqi banks
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Many Iraqis still tends to keep بنقوده and Aktnazha at home without resorting to the banks and the opening of a special account, despite the increasing number of private banks beside banks governmental Aeriqin-the Rafidain and Rasheed. 

I've shaken recent decades the Iraqi citizen's confidence in the banking system prestige to retain بنقوده in his house or converted into other forms of value such as real estate or gold. 

They believe that the political and security situation in Iraq during the recent decades, and the fluctuation of the price of the dinar, especially during the economic blockade, rendered some confidence in Iraqi banks already suffering from the weakness in the breadth and diversity of services, تلكوء the proceedings. 

With the limited relationship, but the banks Ahmed Samer from Baghdad's Sadr City, nestled in the bureaucracy feared most state institutions, which are associated with bribery, even if our friend purports to deposit his money and open a bank account. 

53 banks did not earn the confidence of most Iraqis 

The number of banks in Iraq today, 53 banks, including six state banks, the oldest and the Rafidain Bank, which was founded in 1941, and although it acknowledges director of the Association of Iraqi private banks ultra-Nasser Hassan in his interview with Radio Free Iraq, weak banking and تلكؤها, low banking awareness among Amoatunain generally, noting the small number of dealers with Iraqi banks compared with the case in all the neighboring countries. 

Specialists notes that despite mounting signs of economic development in Iraq, does not record the banking sector is directly proportional development in services, which represents a major challenge for Iraq, according to former agent of the Central Bank the appearance of Mohammed Saleh. 

Saleh said during his interview with Radio Free Iraq, a positive development in fact banking boosted by the Banking Act that would allow the banking system and the Iraqi financial openness to the global system through "management agreements", and the development of banking service and automation, which is what you need all Iraqi banks now. 

International banks looking for an opportunity in Iraq 

Recent weeks have seen a movement, pointing to international banks such as "Citibank" and "Standard Chartered" that have expressed their willingness to find opportunities for activity in Iraq, during the visits of the leaders of these global institutions large and meet them, Iraqi officials Rviein, but some feared that collide this desire by several factors negative in countries experiencing strained security policies and sustained. 

World Bank expects to grow Iraq's economy by 9% this year, compared with slightly more than 2% of the global economy as a whole, and last year became Iraq's second-largest oil producer in OPEC, pumped now more than three million barrels of crude oil per day. 

This optimism needs to be great cooperation between the state and the private banking sector to face charges that targeted the Central Bank and other banks governmental or civil According to the economic expert Majid picture, which did not deny the failure of Iraqi banks in upgrading its services, and the need for the development of staff and the introduction of modern technologies in the world of banking service . 

Pending improve services and develop the efficiency of workers in the banking sector and attracted to the citizens remains Hussein Yassin Sedea Baghdad reluctant to go to a bank to open an account and deposit money, as he said to Radio Free Iraq, admitting that he did not know the use of instruments, as well as he had not seen on the mechanism of card use bank credit except in movies and television shows.


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it's simple really ..... they dont trust banks yet


If you or I went through years of living under a dictator who could basically raid the banks to pay for his new gold plated bathroom we would probably be the same.


then on top of that there's all the political corruption and bribery .......


It's going to take time for the average Iraqi to regain that confidence if they ever had it...... If they never had it , it's gonna take even longer.


but the silver lining is Iraqis are seeing people (you & me) from foreign / more developed economies banking with there banks that will speed up the process of trust building.


.... everything happens for a reason. People change so that you can learn to let go, things go wrong so that you appreciate them when they're right, you believe lies so you learn to trust no one but yourself, and sometimes good things fall apart so better things can fall together.

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If the government would allow them folks their money, it would go on smart cards.  The money would automatically be deposited and they would have to actually draw it out.  Getting them to use these cards would be easy if they just let them have some of the money, and show them how it works.  But the banks there will have big problems if they try to fee these folks to death.

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