Parliamentary Finance: 30% of Iraq’s money is stored in homes

[Mary B]

Parliamentary Finance: 30% of Iraq’s money is stored in homes

 29/06/2020

 

  

Information / Baghdad

Member of the Parliamentary Finance Committee MP Ahmad Al-Saffar confirmed on Monday that the amount of money hoarded in homes amounts to 30% of the liquidity in Iraq .

Al-Saffar said in an interview with "The Information", that "the amount of money hoarded in homes and individuals in Iraq amounts to in my view more than 30% of liquidity and this is a big mistake because monetary policy depends on the movement of money and the amount of circulation."

Al-Saffar added, “Many reasons pushed citizens and individuals to hoard funds away from banks, but it is a bad thing, and it must be reconsidered, cultivated confidence, and eased the procedures, which gives ease in placing money in banks or withdrawing them.”

Iraq has been suffering from a stifling financial crisis for months due to the collapse of crude oil prices and the repercussions of the Corona virus and its economic effects on most of the countries of the world. 25 p. Ended

 

https://www.almaalomah.com/2020/06/29/482460/

[southbeach]

Bump

[Donziman]

With a large part of the local banks owned by the politicians you can't

really blame the peoples mistrust of the banks. These guys are stealing

money from wherever they can find it. Wouldn't want my money in their

safe keeping.  imho...

[boosterbglee]

I have some of their money “stored” at home too!

[Wiljor]

“30% of liquidity and this is a big mistake because monetary policy depends on the movement of money and the amount of circulation." 

Perhaps they know something and are waiting for the same thing 😉