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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

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Established in 2006 as a Community of Reality

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


    Withdrawal of funds and lack of regulation...a warning against repeating the “Lebanon banks” scenari

    Rocky
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    • Post n°1

    banks - Withdrawal of funds and lack of regulation...a warning against repeating the “Lebanon banks” scenari Empty Withdrawal of funds and lack of regulation...a warning against repeating the “Lebanon banks” scenari

    Post by Rocky Mon 16 Oct 2023, 4:47 am

    Withdrawal of funds and lack of regulation...a warning against repeating the “Lebanon banks” scenario in Iraq - urgent
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    Baghdad today - Baghdad 
    Today, Monday (October 16, 2023), banking expert Ahmed Al-Tamimi warned against repeating the “Lebanon banks” scenario in Iraq, due to the hard currency withdrawal operations witnessed by Iraqi banks.
    The exchange rate in the parallel markets is still recording a significant increase compared to the official rate, while the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the black markets.
    Al-Tamimi confirmed in an interview with “Baghdad Today” that “banks in Iraq are currently witnessing a very great momentum by citizens, businessmen and others in order to withdraw money from the dollar from those banks, and there is a lack of regulation in this matter and many of them stand for long hours in order to receive their money in dollars.” But it is not delivered to all of them because the dollar has run out as a result of the demand for it, according to the banks’ claim.”
    He stated, "There is a lack of confidence in the banking system in Iraq, and what the country is currently witnessing portends a step towards repeating the 'Lebanon banks' scenario. Therefore, the Central Bank and the government are required to develop real solutions that restore confidence in the banking system before its collapse."
    Dollar prices are still flying in the parallel market with a large difference from the official exchange rate, as selling prices in exchange shops in the capital, Baghdad, during the past few days reached approximately 163 thousand Iraqi dinars for every 100 US dollars, while purchasing prices recorded 161 thousand Iraqi dinars for every 100 US dollars. .
    Private banks are accused of taking over the largest part of the currency selling window, especially for the cash dollar, which has become extremely difficult for travelers to obtain, which forces them to buy the dollar from the parallel market, while the travelers’ share of the dollar in these banks goes for the purpose of speculation.
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