(80 percent) of the cash mass is in the homes of citizens
20/8/2017
Baghdad / Huda al-Azzawi
Omar Alaa, a young man who works in the women's clothing business, insists on saving his money away from the banking centers. He continues his friend and co-worker to deposit his money in a government bank and does not resort to placing it in the house, no matter what.
And often raised a debate in this regard between the two friends of the difference in vision, and Alaa justified his position, explaining:
«Despite the risk of saving money in the house, but the savings in government banks more serious and harmful, you may be the official procedures and lead you to a world in which a lot of fog in how to retrieve, it is not unlikely that the camel is lost what he carried overnight because of those who have the helm In the obstruction of procedures for the disbursement of receivables, the government sector is still witnessing a decline in performance and weak in the payment of dues due to depositors due to lack of cash, Alaa said and on his face signs of disapproval and wonder,"There are also social doubts and concerns about the absence of real guarantees for the protection of savings and money. This is due to the lack of awareness about saving and other banking transactions. Up to the bank, and may happen the opposite The withdrawal of money from banks increases the volume of risk, because some employees hover around them suspicions of cooperation with the gangs of the coup and the Iraqi street witness to it !.
Shake Alaa his head in a slow He opens his eyes , saying:
«I think that the bank guarantee to save money hit the illusion if they are not lifted all those suspicions about banks, restore mutual trust between the central system and the citizen, and this matter if it is achieved Vsieid confidence to deposit my money in the banks . Another vision , but his friend a dominant look of the image from another angle and explains: «realized that save money in a safe place is very important, they Atawwad never in the event of a disaster or an explosion or an armed robbery , as is the case now, what is equal to speak in front of all those major losses caused by Fate in the face of loss of confidence of the citizen in the banking system, despite all these negatives, but I find in the deposit amounts in banks to guarantee the rights no matter how stormy banking storms to pay dues. And reveals more dominant about the real reason behind the reluctance of his colleague on savings in banks, he says:
«A lot of countries in the world is witnessing a major development in terms of services and access to the greatest possible economic benefits, especially the banking business, which seeks to provide their best facilities and services to win the customer, but in Iraq, completed the Director of Payments in the Central Bank, :
« the range of services provided by the Iraqi banking authorities still follow the methods of very primitive, and repulsive to the members of the community to have their engagement positively with the banking or the idea of saving and saving work, and banks are investing their efforts in the development and regulation of their systems to serve the citizen, and this is what led Li out (80 percent) of the cash value of the block outside of the banking system as a result of a lack of trust between banks and the customer, if we can restore the confidence that we can reach a parallel relationship to encourage savings in government banks ».
And return is dominant to conclude his speech, stressing:
«This may be one of the reasons that pushed my colleague and friend Alaa regardless of the fear of saving and investing his money in the banks and banks of the Iraqi government, and the failure of service performance and the lack of strict control of some bank employees and impose some obstacles and obstacles push the confidence of citizens to the brink of abyss and reluctance to Savings ». Structural imbalances «lack of technical development of banking and the lack of confidence of citizens due to security conditions or delay and complexity of procedures for the deposit and withdrawal of funds led to be (80 percent) of the cash mass in Iraq is not invested» This term was initiated by Undersecretary of the Ministry of Agriculture Administrative Dr. Mahdi Sahr Jubouri, that:
«Iraqi economy suffers from structural and structural imbalances cast a shadow over all economic sectors, including the banking sector, which is still far from the technical and cognitive development, so must develop plans and mechanisms of the Central Bank of Iraq and government and private banks to encourage savings and raise the confidence of citizens in these banks and find effective mechanisms to withdraw those funds And encourage individuals and companies to deposit in banks and private banks and government through improving the level of financial and banking services and the adoption of the electronic system of CBS for the exchange of credit information, which can contribute to the assessment of risks Tmanah and take the necessary treatment in the granting of loans and repayment and build confidence between the citizen and the banking sector. »
"The Central Bank has adopted a new approach to building a real banking sector that is able to increase savings and encourage investment to support economic development plans. The process is not only to restore confidence between the banking sector and the citizen, but to restore confidence," said the director of payments at the central bank. The government and investors in the banking system, there is a project in cooperation with the Central Bank and the Secretariat General of the Council of Ministers on the transfer (70 percent) of the salaries of employees to banks at competitive prices and offers to withdraw the external cash mass to banks ».
The director of payments at the Central Bank concluded by saying: "To resolve the problem of lack of cash liquidity to pay the dues of citizens was selected (15) banks enjoy liquidity and credit very high and take a percentage of deposits, in case of facing the citizen, any reluctance by these banks to receive the amount Deposit can be received from the central bank accounts, thus these measures will increase confidence and encourage an increase in the liquidity ratio of savings ». The panic of the banker Professor of Macroeconomics at the University of Wasit Dr. Jaafar Baqer Alush Al Waeli:
"There is no measure to determine the percentage of money to the public of the currency in circulation, because these ratios depend on two things are Governor: the proportion of the legal reserve, which affects the proportion of reserves held by banks and the other money is the interest rate and determine the percentage of what is saved or investment of funds in the public , And since the interest rate is an inefficient and ineffective index, the talk about the mass of cash outside the banks is a matter of Muslim, and commercial banks, specifically eligibility, which is limited to trading currency through the auction located in the Central Bank, which took his share of the debate Criticism and confirmation for two reasons: first The narrowness of the functions of commercial banks and limited to the role of financing salaries, and the second lack of public confidence in banks, ways to instill confidence related to the Central Bank and through ... Received the talk of Waeli Professor at the Faculty of Business Economics Dr.
(B) the efficient use of deposits by banks' administrations and the improvement of the required liquidity levels in the banking sector; and the demand of banks to set up allocations and reserves to deal with vulnerability and sufficiency, in addition to issuance of certificates of deposit in order to attract money from outside the banking system The public in the banking system ».
Nima adds after hesitation:
"Mismanagement in a number of banks and the seizure of citizens' deposits and their use to serve the owners in the form of loans and facilities led to the transformation of the phenomenon of distrust of the banking system into the so-called (banking panic) and the withdrawal of citizens the bulk of their deposits to meet their own purposes, especially after the war with the da'ash that forced them To use the bulk of their savings to pay the living requirements of food, clothing, treatment and treatment at home or abroad, or used as a deposit in some neighboring countries such as Iran, which pay a nominal benefit of up to (20%) and if we put the rate of inflation (17%) and differences in the price of the bank, The deposits are received in foreign currency and received in Iranian currency, so interest rates are close to interest rates in Iraq. "
[You must be registered and logged in to see this link.]
20/8/2017
Baghdad / Huda al-Azzawi
Omar Alaa, a young man who works in the women's clothing business, insists on saving his money away from the banking centers. He continues his friend and co-worker to deposit his money in a government bank and does not resort to placing it in the house, no matter what.
And often raised a debate in this regard between the two friends of the difference in vision, and Alaa justified his position, explaining:
«Despite the risk of saving money in the house, but the savings in government banks more serious and harmful, you may be the official procedures and lead you to a world in which a lot of fog in how to retrieve, it is not unlikely that the camel is lost what he carried overnight because of those who have the helm In the obstruction of procedures for the disbursement of receivables, the government sector is still witnessing a decline in performance and weak in the payment of dues due to depositors due to lack of cash, Alaa said and on his face signs of disapproval and wonder,"There are also social doubts and concerns about the absence of real guarantees for the protection of savings and money. This is due to the lack of awareness about saving and other banking transactions. Up to the bank, and may happen the opposite The withdrawal of money from banks increases the volume of risk, because some employees hover around them suspicions of cooperation with the gangs of the coup and the Iraqi street witness to it !.
Shake Alaa his head in a slow He opens his eyes , saying:
«I think that the bank guarantee to save money hit the illusion if they are not lifted all those suspicions about banks, restore mutual trust between the central system and the citizen, and this matter if it is achieved Vsieid confidence to deposit my money in the banks . Another vision , but his friend a dominant look of the image from another angle and explains: «realized that save money in a safe place is very important, they Atawwad never in the event of a disaster or an explosion or an armed robbery , as is the case now, what is equal to speak in front of all those major losses caused by Fate in the face of loss of confidence of the citizen in the banking system, despite all these negatives, but I find in the deposit amounts in banks to guarantee the rights no matter how stormy banking storms to pay dues. And reveals more dominant about the real reason behind the reluctance of his colleague on savings in banks, he says:
«A lot of countries in the world is witnessing a major development in terms of services and access to the greatest possible economic benefits, especially the banking business, which seeks to provide their best facilities and services to win the customer, but in Iraq, completed the Director of Payments in the Central Bank, :
« the range of services provided by the Iraqi banking authorities still follow the methods of very primitive, and repulsive to the members of the community to have their engagement positively with the banking or the idea of saving and saving work, and banks are investing their efforts in the development and regulation of their systems to serve the citizen, and this is what led Li out (80 percent) of the cash value of the block outside of the banking system as a result of a lack of trust between banks and the customer, if we can restore the confidence that we can reach a parallel relationship to encourage savings in government banks ».
And return is dominant to conclude his speech, stressing:
«This may be one of the reasons that pushed my colleague and friend Alaa regardless of the fear of saving and investing his money in the banks and banks of the Iraqi government, and the failure of service performance and the lack of strict control of some bank employees and impose some obstacles and obstacles push the confidence of citizens to the brink of abyss and reluctance to Savings ». Structural imbalances «lack of technical development of banking and the lack of confidence of citizens due to security conditions or delay and complexity of procedures for the deposit and withdrawal of funds led to be (80 percent) of the cash mass in Iraq is not invested» This term was initiated by Undersecretary of the Ministry of Agriculture Administrative Dr. Mahdi Sahr Jubouri, that:
«Iraqi economy suffers from structural and structural imbalances cast a shadow over all economic sectors, including the banking sector, which is still far from the technical and cognitive development, so must develop plans and mechanisms of the Central Bank of Iraq and government and private banks to encourage savings and raise the confidence of citizens in these banks and find effective mechanisms to withdraw those funds And encourage individuals and companies to deposit in banks and private banks and government through improving the level of financial and banking services and the adoption of the electronic system of CBS for the exchange of credit information, which can contribute to the assessment of risks Tmanah and take the necessary treatment in the granting of loans and repayment and build confidence between the citizen and the banking sector. »
"The Central Bank has adopted a new approach to building a real banking sector that is able to increase savings and encourage investment to support economic development plans. The process is not only to restore confidence between the banking sector and the citizen, but to restore confidence," said the director of payments at the central bank. The government and investors in the banking system, there is a project in cooperation with the Central Bank and the Secretariat General of the Council of Ministers on the transfer (70 percent) of the salaries of employees to banks at competitive prices and offers to withdraw the external cash mass to banks ».
The director of payments at the Central Bank concluded by saying: "To resolve the problem of lack of cash liquidity to pay the dues of citizens was selected (15) banks enjoy liquidity and credit very high and take a percentage of deposits, in case of facing the citizen, any reluctance by these banks to receive the amount Deposit can be received from the central bank accounts, thus these measures will increase confidence and encourage an increase in the liquidity ratio of savings ». The panic of the banker Professor of Macroeconomics at the University of Wasit Dr. Jaafar Baqer Alush Al Waeli:
"There is no measure to determine the percentage of money to the public of the currency in circulation, because these ratios depend on two things are Governor: the proportion of the legal reserve, which affects the proportion of reserves held by banks and the other money is the interest rate and determine the percentage of what is saved or investment of funds in the public , And since the interest rate is an inefficient and ineffective index, the talk about the mass of cash outside the banks is a matter of Muslim, and commercial banks, specifically eligibility, which is limited to trading currency through the auction located in the Central Bank, which took his share of the debate Criticism and confirmation for two reasons: first The narrowness of the functions of commercial banks and limited to the role of financing salaries, and the second lack of public confidence in banks, ways to instill confidence related to the Central Bank and through ... Received the talk of Waeli Professor at the Faculty of Business Economics Dr.
(B) the efficient use of deposits by banks' administrations and the improvement of the required liquidity levels in the banking sector; and the demand of banks to set up allocations and reserves to deal with vulnerability and sufficiency, in addition to issuance of certificates of deposit in order to attract money from outside the banking system The public in the banking system ».
Nima adds after hesitation:
"Mismanagement in a number of banks and the seizure of citizens' deposits and their use to serve the owners in the form of loans and facilities led to the transformation of the phenomenon of distrust of the banking system into the so-called (banking panic) and the withdrawal of citizens the bulk of their deposits to meet their own purposes, especially after the war with the da'ash that forced them To use the bulk of their savings to pay the living requirements of food, clothing, treatment and treatment at home or abroad, or used as a deposit in some neighboring countries such as Iran, which pay a nominal benefit of up to (20%) and if we put the rate of inflation (17%) and differences in the price of the bank, The deposits are received in foreign currency and received in Iranian currency, so interest rates are close to interest rates in Iraq. "
[You must be registered and logged in to see this link.]
Today at 7:00 am by Rocky
» utube 5/9/24 MM&C 0:02 / 46:46 PM - Al-Sudani - Golden Opportunity - Private Sector - Contra
Today at 6:57 am by Rocky
» utube MM&C 5/11/24 Iraqi Dinar - IQD Update - International - IraqTiming - 2024 Budget Schedule - Sp
Today at 6:55 am by Rocky
» Bahr Al-Ulum calls for legislating the renewable energy law and localizing the solar panel industry
Today at 6:49 am by Rocky
» In numbers: the rise in internal debt in Iraq
Today at 6:49 am by Rocky
» Jordan demands that Iraq continue to export oil for another three months
Today at 6:46 am by Rocky
» Iraq is the largest producer.. OPEC+ is pumping higher than scheduled and in anticipation of the Jun
Today at 6:44 am by Rocky
» Close to the coordination framework: There is no intention to change the internal regulations of Par
Today at 6:43 am by Rocky
» Central Bank sales exceed $274 million today
Today at 6:41 am by Rocky
» But the representative of the exchange companies is pessimistic... Why did the dollar fall?... The C
Today at 6:38 am by Rocky
» Jordan addresses Iraq to extend a memorandum of understanding to purchase oil
Today at 6:36 am by Rocky
» Bribes increased from 3,000 to 50,000 dollars.. What is the condition of alcohol in Iraq after the p
Today at 6:34 am by Rocky
» Presence movement: Sunnis and Kurds while the Americans remain in Iraq
Today at 5:31 am by Rocky
» A deputy reveals the contents of the first water strategy in Iraq
Today at 5:29 am by Rocky
» Soon...the second reading of the proposed red card law
Today at 5:28 am by Rocky
» The discovery of 10 new oil and gas fields in the Anbar desert
Today at 5:27 am by Rocky
» A bloc announces to “Al-Ma’louma” the date of the parliamentary speaker’s election session
Today at 5:26 am by Rocky
» Parliamentary Finance explains the mechanism for amending the retirement law
Today at 5:24 am by Rocky
» Sovereignty accuses Al-Halbousi of obstructing the election of a Speaker of Parliament
Today at 5:23 am by Rocky
» Parliamentary Agriculture accuses Kurdistan of harming the farmers of the center and south
Today at 5:22 am by Rocky
» Al-Sudani confirms Iraq's readiness to host the Arab Network conference
Today at 5:21 am by Rocky
» Nechirvan Barzani calls on the Iraqi government to allocate a budget to confront climate change
Today at 5:20 am by Rocky
» “Iraq is in danger.” Political warnings against ending the work of the UN mission
Today at 5:19 am by Rocky
» The Iraqi Interior Minister announces the signing of a security cooperation memorandum with Syria
Today at 5:17 am by Rocky
» The Minister of Oil told “Al-Iqtisad News”: The 5th and 6th rounds will add 3 Mqmq of gas to Iraq’s
Today at 5:16 am by Rocky
» Economist: Tax revenues from the private sector should be 4 trillion dinars annually
Today at 5:14 am by Rocky
» The Real Estate Bank calls on the Iraqi Central Bank to determine a plan to allocate a new initiativ
Today at 5:13 am by Rocky
» More than one billion and 400 million dollars...CBI sales within a week
Today at 5:12 am by Rocky
» Oil: Iraq achieved self-sufficiency in liquid gas and began exporting the surplus
Today at 5:10 am by Rocky
» Iraq begins exporting liquid gas
Today at 5:09 am by Rocky
» The Cabinet Secretariat sets to Al-Iqtisad News the completion date for the Chinese agreement school
Today at 5:09 am by Rocky
» Securities: The most recent law of the Authority in the Arab and regional countries
Today at 5:07 am by Rocky
» A European desire to strengthen security and economic cooperation with Baghdad
Today at 5:06 am by Rocky
» The close selection of a person for the position of Speaker of Parliament
Today at 5:05 am by Rocky
» Parliamentary law excludes the exchange of penalties for cash amounts
Today at 5:04 am by Rocky
» An agreement with Italy to finance industrial projects
Today at 5:02 am by Rocky
» The Najaf Chamber of Commerce signs a “memorandum of understanding” with its Thai counterpart
Today at 5:01 am by Rocky
» Baghdad, Arab Forum
Today at 5:00 am by Rocky
» Specialists: Economic integration and job opportunities await development
Today at 4:59 am by Rocky
» The President of the Republic, Nechirvan and Barzani stress the necessity of coordinating efforts be
Today at 4:57 am by Rocky
» The Judicial Institute announces the names of those accepted for the 48th and 49th sessions
Today at 4:56 am by Rocky
» Today's newspapers are interested in launching the fifth licensing supplement rounds and the sixth l
Today at 4:55 am by Rocky
» Al-Sudani receives the Secretary-General of the Arab Network for National Human Rights Institutions
Today at 4:53 am by Rocky
» Trade participates in the meetings of the Economic and Social Council at the level of senior officia
Today at 4:52 am by Rocky
» The Minister of Transport discusses with the Tunisian Minister of Foreign Affairs and Immigration wa
Today at 4:50 am by Rocky
» Iraq recorded an increase in its oil exports to the United States last week
Today at 4:49 am by Rocky
» It is governed by three dimensions.. Parliament talks about a strategic priority for Iraqi national
Today at 4:48 am by Rocky
» To what extent do Arab countries influence politically Iraq? It has become more independent
Today at 4:46 am by Rocky
» The Iranian ambassador in Baghdad: Iraq has paid its debts, and the security agreement includes thre
Today at 4:45 am by Rocky
» Dollar exchange rates decline slightly on the Baghdad Stock Exchange
Today at 4:44 am by Rocky
» China has 18% of the fields in the two new rounds, and 11 countries share the remainder
Today at 4:43 am by Rocky
» On the table...a proposal for the Kurdistan oil crisis and an effort to conclude a similar agreement
Today at 4:42 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Today at 4:40 am by Rocky
» 6 Chinese companies are among the winners of developing Iraqi oil and gas fields
Today at 4:38 am by Rocky
» Baghdad gives UNAMI the end of 2025 to leave the country after fiery briefings
Today at 4:37 am by Rocky
» Dhi Qar clarifies: The quarry burying radioactive materials is regular and does not pose a danger
Today at 4:36 am by Rocky
» Al-Sudani: There are 64 lagging projects in Babylon
Today at 4:34 am by Rocky
» The housing crisis is expanding and planning confirms: Iraq needs 3 million housing units to solve i
Today at 4:34 am by Rocky
» 90 billion dinars were recovered from social protection violators
Today at 4:32 am by Rocky
» Iraq seeks to increase its oil reserves to more than 160 billion barrels
Today at 4:31 am by Rocky
» After keeping the numbers secret... Did the rain increase Iraq's water reserves by 120%?
Today at 4:30 am by Rocky
» In the first quarter of 2024.. Iran will displace Iraq and become the second largest producer in OPE
Today at 4:28 am by Rocky
» Iraqi oil exports to Jordan stopped 20 days ago
Today at 4:27 am by Rocky
» Iraq and Syria sign a memorandum of security cooperation in several fields
Today at 4:25 am by Rocky
» Parliament recommends stopping electronic schools in Iraq
Today at 4:24 am by Rocky
» Parliamentary law rules out passing a law replacing penalties with sums of money
Today at 4:22 am by Rocky
» After a rare meeting... sources talk about Al-Sadr's future in political life in Iraq
Today at 4:21 am by Rocky
» The President of the Republic warns of climate change and its threat to food security and future gen
Today at 4:20 am by Rocky
» The Iranian ambassador to Iraq talks about negotiations for the withdrawal of American forces and Tu
Today at 4:19 am by Rocky
» Deputy: Iraq represents an important factor in the stability of the global oil market
Today at 4:16 am by Rocky
» Transportation: The Iraqi-Turkish technical committees continue to fulfill the requirements for impl
Today at 4:15 am by Rocky
» Economic: Raising the interest rate will reduce real estate prices
Yesterday at 7:20 am by Rocky
» Did Barzani agree in Tehran to end the presence of Iranian groups in Kurdistan? - urgent
Yesterday at 7:16 am by Rocky
» Al-Sudani: We are establishing a new situation for the global energy market through the Development
Yesterday at 7:14 am by Rocky
» Al-Sudani: The government program devoted a wide scope to the government’s vision for oil and gas in
Yesterday at 7:11 am by Rocky
» Al-Awadi: Ending the work of the UNAMI mission is consistent with the government’s vision in this fi
Yesterday at 7:10 am by Rocky
» MM&C Floating the dinar" returns to the forefront.. Will the Central Bank of Iraq resort to it and w
Yesterday at 5:24 am by Rocky
» The Secretary of the Ministry of Defense meets with the Commander of the NATO mission
Yesterday at 5:17 am by Rocky
» Expert: The stability of the economy is linked to the political situation
Yesterday at 5:13 am by Rocky
» A parliamentary request to lift the injustice against 20,000 Iraqi employees
Yesterday at 5:09 am by Rocky
» Parliamentary Finance criticizes the government's failure to send the budget schedules
Yesterday at 5:08 am by Rocky
» Minister of Oil: The 5th and 6th licensing rounds will take place within the framework of exploratio
Yesterday at 5:07 am by Rocky
» Al-Sudani: Iraq is a difficult number in the global market in the field of energy
Yesterday at 5:06 am by Rocky
» Al-Khanjar rejects Al-Halbousi’s request to head Parliament
Yesterday at 5:05 am by Rocky
» Revealing the date of the arrival of the 2024 budget schedules
Yesterday at 5:04 am by Rocky
» Al-Halbousi nominates Talal Al-Zubaie for presidency of the House of Representatives
Yesterday at 5:03 am by Rocky
» "A coup in Iraqi universities"... Replacement of presidents and deans under the new education law
Yesterday at 5:01 am by Rocky
» Al-Sudani: Iraq is a difficult number in the equation of energy and oil wealth in the region and the
Yesterday at 5:00 am by Rocky
» Minister of Oil: We hope to announce an increase in Iraq’s oil reserves to 160 billion barrels
Yesterday at 4:58 am by Rocky
» Iraq's mass graves...stories that did not end with the burial of their owners, and the "legacy of IS
Yesterday at 4:57 am by Rocky
» Pictures: New licenses in Iraq to extract “huge” quantities of oil and gas
Yesterday at 4:56 am by Rocky
» Transport reopens the Baghdad - Samarra railway line
Yesterday at 4:55 am by Rocky
» Al-Awadi: A government decision to provide sovereign guarantees and guarantees to encourage the inve
Yesterday at 4:54 am by Rocky
» Oil clarifies the mechanism for investing grant funds and licensing contracts
Yesterday at 4:51 am by Rocky
» A $700 million agreement is signed between Iraq and Italy to finance these projects
Yesterday at 4:50 am by Rocky
» Iraq recovers 90 billion dinars from social protection violators
Yesterday at 4:49 am by Rocky
» Sudanese officially launches the two licensing rounds and sets the date for stopping gas burning
Yesterday at 4:48 am by Rocky
» An economic vision for the standard of competition for exploratory plots in Iraq
Yesterday at 4:47 am by Rocky
» The Iraqi Islamic Bank announces an increase in its capital to 300 billion dinars
Yesterday at 4:46 am by Rocky