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Security concerns and political pay citizens to withdraw their deposits from banks Iraqi civil
SUNDAY, JUNE 2, 2013 16:00
Twilight News / experts agreed in the economy and specialists bankers that the deteriorating security situation and the worsening political crisis between the political parties were behind the failure of the Iraqi citizen of the deposit money in banks and dragging it to the deposited earlier, according to the announcement by a group of private banks, which reflected negatively on the work of banks .
The head of the Media Center Iraq's economic Dergham Mohammed Ali said the withdrawal of funds from banks due to a lack of trust of the Iraqi citizen and which started shaking in some private banks, in the absence of a clear guarantees from the Iraqi Central Bank on the doomed, because of the confusion that accompanied the lack of clarity of fate bank depositors' money in Basra and Warka.
Ali said according to a report of the island seen by "Twilight News" that the Iraqi citizens began creeping toward the government banks to the presence of collateral where their money deposited, in addition to the continuing deterioration in the exchange rate of the local currency against the dollar making the latter more attractive as a store of value for savers, which poses strongly the use of local currency deposited with banks to buy gold or the dollar store instead of deposits with banks, which may not be an interest rate equivalent to lose money from the value of a year with increased rates of inflation and instability in the currency market.
For his part, a leading economist said Hashemi The economic axioms fixed capital seeking to reduce the element of risk.
He added that the political crisis in the country and the accompanying given the security situation reduces the confidence of citizens in the development of money banks and private civil فيسارع to withdraw his savings with every crisis strong ravaging the country fearing for their loss, especially at a time spread the corruption and weakened the legal proceedings.
He explained Hashemi that there are many things made a citizen withdraw their money from banks, as has become customary that people hear that a senior official or employee with a high degree convicted in a corruption case are large and the issuance of judgment against him and then بهروبه outside the country, later his money stolen by the staple food of the people, and these things contribute to the lack of contentment citizen for the survival of their money in banks.
He pointed out that the withdrawal of funds reduces the mass of cash in the bank and affect its ability to continue to meet its internal and external financial and private projects and large investments, leading to delay the execution because every delay in financial obligations offset by delays in implementation.
For his part, the President of the Union of businessmen willing satisfaction Blibl in an interview with the island revealed that the deteriorating security situation recently and the increasing differences between the political blocs, reflected negatively on the public life of the country, and in particular on the work of banks, which have not kept pace with the evolution after 2003 and the opening of Iraq to the world.
He stressed that the Iraqi citizen has no desire to withdraw money from banks because it is considered a safety valve to him because of the instability of the security situation and fear of exposure to theft in homes, noting that Iraq has now 43 waged, banks and state banks 6.
He added that the Iraqi dinar in the case of confusion against the dollar, which reflected negatively on the work of banks, and this shows the weakness of the state policy in dealing with this situation, and called on the Iraqi Association of Banks sector employees to develop training courses.
A member of the Economic Committee House of Representatives Salman al-Moussawi said in an interview for the island revealed that the decline in the security situation and the worsening political crisis between the political parties, leading to the obstruction of the process of building the economy and paralysis of the Iraqi state, and thus affect the private banks that do not live up its work to the level of ambition.
He added that the withdrawal of funds from private banks rumor has left some of the enemies of the economic process in Iraq in order to paralyze those banks, which affects the operation of the market in general, calling on the Iraqi government to support private banks and mandated deposit funds and institutions to open current accounts.
He stressed that the work of Iraqi banks at the moment is acceptable, but not the level of ambition, because of the general situation taking place in the country since 2003.
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SUNDAY, JUNE 2, 2013 16:00
Twilight News / experts agreed in the economy and specialists bankers that the deteriorating security situation and the worsening political crisis between the political parties were behind the failure of the Iraqi citizen of the deposit money in banks and dragging it to the deposited earlier, according to the announcement by a group of private banks, which reflected negatively on the work of banks .
The head of the Media Center Iraq's economic Dergham Mohammed Ali said the withdrawal of funds from banks due to a lack of trust of the Iraqi citizen and which started shaking in some private banks, in the absence of a clear guarantees from the Iraqi Central Bank on the doomed, because of the confusion that accompanied the lack of clarity of fate bank depositors' money in Basra and Warka.
Ali said according to a report of the island seen by "Twilight News" that the Iraqi citizens began creeping toward the government banks to the presence of collateral where their money deposited, in addition to the continuing deterioration in the exchange rate of the local currency against the dollar making the latter more attractive as a store of value for savers, which poses strongly the use of local currency deposited with banks to buy gold or the dollar store instead of deposits with banks, which may not be an interest rate equivalent to lose money from the value of a year with increased rates of inflation and instability in the currency market.
For his part, a leading economist said Hashemi The economic axioms fixed capital seeking to reduce the element of risk.
He added that the political crisis in the country and the accompanying given the security situation reduces the confidence of citizens in the development of money banks and private civil فيسارع to withdraw his savings with every crisis strong ravaging the country fearing for their loss, especially at a time spread the corruption and weakened the legal proceedings.
He explained Hashemi that there are many things made a citizen withdraw their money from banks, as has become customary that people hear that a senior official or employee with a high degree convicted in a corruption case are large and the issuance of judgment against him and then بهروبه outside the country, later his money stolen by the staple food of the people, and these things contribute to the lack of contentment citizen for the survival of their money in banks.
He pointed out that the withdrawal of funds reduces the mass of cash in the bank and affect its ability to continue to meet its internal and external financial and private projects and large investments, leading to delay the execution because every delay in financial obligations offset by delays in implementation.
For his part, the President of the Union of businessmen willing satisfaction Blibl in an interview with the island revealed that the deteriorating security situation recently and the increasing differences between the political blocs, reflected negatively on the public life of the country, and in particular on the work of banks, which have not kept pace with the evolution after 2003 and the opening of Iraq to the world.
He stressed that the Iraqi citizen has no desire to withdraw money from banks because it is considered a safety valve to him because of the instability of the security situation and fear of exposure to theft in homes, noting that Iraq has now 43 waged, banks and state banks 6.
He added that the Iraqi dinar in the case of confusion against the dollar, which reflected negatively on the work of banks, and this shows the weakness of the state policy in dealing with this situation, and called on the Iraqi Association of Banks sector employees to develop training courses.
A member of the Economic Committee House of Representatives Salman al-Moussawi said in an interview for the island revealed that the decline in the security situation and the worsening political crisis between the political parties, leading to the obstruction of the process of building the economy and paralysis of the Iraqi state, and thus affect the private banks that do not live up its work to the level of ambition.
He added that the withdrawal of funds from private banks rumor has left some of the enemies of the economic process in Iraq in order to paralyze those banks, which affects the operation of the market in general, calling on the Iraqi government to support private banks and mandated deposit funds and institutions to open current accounts.
He stressed that the work of Iraqi banks at the moment is acceptable, but not the level of ambition, because of the general situation taking place in the country since 2003.
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