Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

A Statement on urging the banking sector to use modern financial technologies in banking transactions


6ly410
 Share

Recommended Posts

A Statement on urging the banking sector to use modern financial technologies in banking transactions.    The Central Bank of Iraq calls on all citizens to deal with banks and licensed financial intermediation companies, during large cash exchanges, instead of hoarding in homes.
The central bank seeks through this, to preserve the money supply for citizens, avoid cases of theft and fraud, and promote counterfeit currencies.
 
The bank stresses the need to reduce trade exchange in paper currencies, which medical studies have proven to be an effective vector for viruses and bacteria, especially as the country is going through a crisis of the spread of Corona virus.
The Central Bank adopts the mechanisms of spreading financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through banking in all its advanced civilized forms.
 https://cbi.iq/news/view/1535
Central Bank of Iraq
information Office
2020/8/18

Edited by 6ly410
  • Haha 2
  • Upvote 7
Link to comment
Share on other sites

Quote

during large cash exchanges, instead of hoarding in homes.

 

The bank stresses the need to reduce trade exchange in paper currencies, which medical studies have proven to be an effective vector for viruses and bacteria

 

Here's a novel idea, you could just RV your dang currency and people won't have to use suitcases full of the currently valued currency.

  • Like 1
  • Thanks 1
  • Upvote 1
Link to comment
Share on other sites

still after that 70% of the cash that's being held in holmes i see ,,, modern banking can lend up 10X the amount that people deposit in banks which can and does generate a lot of interest money for the banking system , not sure how modern and up to date or corrupt the iraqi banking system is , one things for sure the citizens don't trust them still ..... thanks 6yl410 ...... we wait 

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

13 hours ago, Floridian said:

They're trying to get the people to turn in all the "mattress money" they are stashing at home.

The new global economy is going to be digital.

You’re right on that one Floridian! The new global economy will be digital. The people of the world are being prepped!

  • Thanks 1
Link to comment
Share on other sites

13 hours ago, 3n1 said:

still after that 70% of the cash that's being held in holmes i see ,,, modern banking can lend up 10X the amount that people deposit in banks which can and does generate a lot of interest money for the banking system , not sure how modern and up to date or corrupt the iraqi banking system is , one things for sure the citizens don't trust them still ..... thanks 6yl410 ...... we wait 

yep money cycle and money velocity...once it starts....BOOOOOOOOOOOOOOMM!

  • Upvote 2
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.


  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.