Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Join the forum, it's quick and easy

Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    A researcher detonates a bomb: Iraqis lose 2.5% of the value of their money deposited in banks

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269035
    Join date : 2012-12-21
    • Post n°1

    A researcher detonates a bomb: Iraqis lose 2.5% of the value of their money deposited in banks Empty A researcher detonates a bomb: Iraqis lose 2.5% of the value of their money deposited in banks

    Post by Rocky Wed 09 Nov 2022, 2:22 pm

    [rtl]A researcher detonates a bomb: Iraqis lose 2.5% of the value of their money deposited in banks[/rtl]

    [rtl]Posted 8 seconds ago
     
    [You must be registered and logged in to see this link.]
     
    news source /[You must be registered and logged in to see this link.][/rtl]

    [rtl][You must be registered and logged in to see this image.][/rtl]
    [rtl][You must be registered and logged in to see this image.]
    News source / [You must be registered and logged in to see this link.][You must be registered and logged in to see this link.][/rtl][/size]
    Baghdad today - Baghdad
    [rtl]
    Today, Wednesday, economic researcher Rami Jawad described the policy of the Central Bank of Iraq as a contribution to inflation, due to its continued granting of loans and maintaining a low interest rate, noting that depositors lose approximately 2.5% of the value of the their money.
    [/rtl]
    Jawad said in a clarification seen by (Baghdad Today), that “the policy of the Central Bank continues to contribute to the rise in inflation rates, which reached 6%, which is a high rate, and the Central Bank has not taken any measures to limit the rise in inflation, but rather its procedures for granting loans and advances and reducing the rate of the interest and the increase in the issuance of cash have become in the interest of the wealthy and hit the middle and low earners towards the poverty curve.”
    He explained that “the high rates of inflation compared to the decrease in bank interest on deposits at less than the inflation rate means the loss of depositors in banks, because the real interest rates have become less than 0%,” noting that “depositors are Currently losing from their balances in favor of borrowers from banks, especially large loans.”
    In a detailed explanation to clarify the matter, Jawad stated that “banks grant annual interest on deposits at a rate ranging between (3.5% - 5%), and the current inflation rate (6%), which means that the real interest on deposits is equal to (the interest rate minus the inflation rate). Thus, the result is negative,” which means that “every depositor currently in banks loses at a rate ranging between (2.5% to 1%), so borrowing at low interest in times of high inflation is considered less risky and more profitable for a project owner.”
    [rtl]



    You can also read the news from the source [You must be registered and logged in to see this link.]
    [You must be registered and logged in to see this link.][/rtl]
    • Back to top
      Current date/time is Sat 27 Apr 2024, 6:18 pm