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


6ly410
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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

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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.

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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 

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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!

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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!

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