A crisis of confidence and banking red tape... Why do Iraqis keep billions of dollars at home

[RJG]

A crisis of confidence and banking red tape... Why do Iraqis keep billions of dollars at home?

• Time: 2025/08/23 19:54:11
•  
• Reading: 585 times

  

{Economic: Al Furat News} Economic expert Nabil Al Marsoumi confirmed that citizens' retention of up to 80% of their cash balance in their homes is due to a number of reasons, most notably the crisis of confidence between banks and citizens.

 

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Al-Marsoumi told Al-Furat News: "This crisis has worsened after the Central Bank recently announced that 10 banks were unable to return citizens' financial deposits, a situation that had previously occurred with another group of banks."

He also considered that "red tape is a major reason why citizens are unable to withdraw their entire amounts of money, as banks divide them into portions, which is unacceptable." 

Al-Marsoumi added, "The complexities, mistreatment, and difficulty in recovering deposited funds are all factors that prevent citizens, especially merchants and contractors, from depositing their money in banks."

The expert concluded his remarks by emphasizing "the need for banks to develop their interactions with the public to build mutual trust," noting that "the current situation stems from a loss of confidence in the banking system and its complex procedures."

Raghad

 

https://alforatnews.iq/news/أزمة-الثقة-والروتين-المصرفي-لماذا-يحتفظ-العراقيون-بمليارات-الدولارات-في-منازلهم؟

[Laid Back]

Easy fix.!

Revalue the dinar and all the cash stashed at home will go to the bank.

 

Go RV

Go LD notes

Go Purchasing Power

[horsesoldier]

REALLY!!! 🤣

[screwball]

4 hours ago, Laid Back said:

Easy fix.!

Revalue the dinar and all the cash stashed at home will go to the bank.

 

Go RV

Go LD notes

Go Purchasing Power

correct ⏰

[steveh12]

RV for $200. please Alex.

I know He is Deceased.