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Economist: Electronic financial dealing saves Iraq from the scarcity of cash
January 9 09:42
Information / Baghdad...
Economic affairs researcher Diaa Abdel Karim said on Thursday that the
shift towards electronic financial dealings and generalizing this to all government and private transactions will save the country from the scarcity of cash liquidity. Abdel Karim told Al-Maalouma,
“Most of the countries of the world, and Europe in particular, have moved towards electronic financial dealing, so that society has created a culture of dealing with electronic cards in buying and selling in various sectors, and even with the decline of their economy, they will not suffer financially because their financial dealings are electronic". He added,
"These transactions make it unnecessary for governments to print currency continuously, as this process is financially expensive, and
Iraq prints some denominations at home and other denominations of cash are printed abroad, and their
printing costs the financial value of this currency." He stated that
"the trend towards electronic dealing needs intensive education so that the cash mass is withdrawn from the street and dealing, especially with large sums, is transformed through electronic cards.
Thus, the citizen will not be forced to withdraw large sums of money from banks in order to buy a property or a car, etc., but rather will use His card in order to transfer money to the other party, which ensures the safety of financial dealings and does not waste the cash mass and remove it from the banking framework.” End25n
https://almaalomah.me/news/87668/economy/اقتصادي:-التعامل-المالي-الالكتروني-ينقذ-العراق-من-شح-السيولة
January 9 09:42
Information / Baghdad...
Economic affairs researcher Diaa Abdel Karim said on Thursday that the
shift towards electronic financial dealings and generalizing this to all government and private transactions will save the country from the scarcity of cash liquidity. Abdel Karim told Al-Maalouma,
“Most of the countries of the world, and Europe in particular, have moved towards electronic financial dealing, so that society has created a culture of dealing with electronic cards in buying and selling in various sectors, and even with the decline of their economy, they will not suffer financially because their financial dealings are electronic". He added,
"These transactions make it unnecessary for governments to print currency continuously, as this process is financially expensive, and
Iraq prints some denominations at home and other denominations of cash are printed abroad, and their
printing costs the financial value of this currency." He stated that
"the trend towards electronic dealing needs intensive education so that the cash mass is withdrawn from the street and dealing, especially with large sums, is transformed through electronic cards.
Thus, the citizen will not be forced to withdraw large sums of money from banks in order to buy a property or a car, etc., but rather will use His card in order to transfer money to the other party, which ensures the safety of financial dealings and does not waste the cash mass and remove it from the banking framework.” End25n
https://almaalomah.me/news/87668/economy/اقتصادي:-التعامل-المالي-الالكتروني-ينقذ-العراق-من-شح-السيولة
