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The banking system is facing serious disturbances: cash withdrawal operations are expanding!
Two days ago 252 one minute
special |..
The economic advisor, Ziyad Al-Hashemi, said today, Wednesday, that
the operations of withdrawing cash balances from accounts with local banks are among the dangerous signs that indicate a weakness in the level of confidence and concern about the loss of the monetary value of savings in Iraqi banks,
which led to the tendency of dealers to withdraw their savings from the dinar and search for dollars..
And Al-Hashemi told Al-Jazeera that
the fever of these withdrawals may expand as a result of the continued rise in exchange rates and the state of turmoil in the banking system remaining unresolved, and
this will generate a significant decrease in the cash balances with banks, and
this may eventually lead to the collapse of those banks and the declaration of their bankruptcy.. Al-Hashemi added,
“This dangerous scenario reminds us of the collapse of US banks that occurred a few months ago as a result of the widespread and continuous cash withdrawal by dealers, and
this caused great confusion in the US banking system, which prompted the US Federal Reserve to intervene urgently to save the US banking system.” He pointed out,
“The Central Bank of Iraq must be ready to deal with all scenarios, especially since
there are no viable solutions on the horizon for the structural problems of the Iraqi banking system and the resulting continuous rises in the exchange rate of the dollar,
which is matched by a continuous erosion of the value of the Iraqi dinar.”
https://jaredaiq-net.translate.goog/News/4977
Two days ago 252 one minute
special |..
The economic advisor, Ziyad Al-Hashemi, said today, Wednesday, that
the operations of withdrawing cash balances from accounts with local banks are among the dangerous signs that indicate a weakness in the level of confidence and concern about the loss of the monetary value of savings in Iraqi banks,
which led to the tendency of dealers to withdraw their savings from the dinar and search for dollars..
And Al-Hashemi told Al-Jazeera that
the fever of these withdrawals may expand as a result of the continued rise in exchange rates and the state of turmoil in the banking system remaining unresolved, and
this will generate a significant decrease in the cash balances with banks, and
this may eventually lead to the collapse of those banks and the declaration of their bankruptcy.. Al-Hashemi added,
“This dangerous scenario reminds us of the collapse of US banks that occurred a few months ago as a result of the widespread and continuous cash withdrawal by dealers, and
this caused great confusion in the US banking system, which prompted the US Federal Reserve to intervene urgently to save the US banking system.” He pointed out,
“The Central Bank of Iraq must be ready to deal with all scenarios, especially since
there are no viable solutions on the horizon for the structural problems of the Iraqi banking system and the resulting continuous rises in the exchange rate of the dollar,
which is matched by a continuous erosion of the value of the Iraqi dinar.”
https://jaredaiq-net.translate.goog/News/4977
