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Banks benefit Iran suffered alluring to attract Iraqi deposits
Sunday 9 Dhu al-Hijjah 1437 AH - September 11 2016
[You must be registered and logged in to see this image.]Banking experts expressed growing concern the persistence of a private Iraqi banks in the non-payment of dues depositors as a result of a liquidity squeeze, prompting citizens' savings have to demonstrate near the Central Bank of Iraq building, and demanded to "intervene to solve their problem."
He quoted one of the participants in the demonstration, saying that "the reason for the protest is the result of depositors for their arrival to a standstill with the bank's management to achieve their financial rights."
He said banking expert high Nasser Hussain in a statement to the newspaper "Life", that "the stage where the Iraqi banking sector is going through, particularly private banks, very difficult, due to the loss of public confidence in, and a way to pay the majority of depositors in private banks to withdraw their deposits," while Others could not do so for "the lack of liquidity of many banks to reimburse depositors."
As pointed out what appeared in the local media about the resort many citizens to travel to Iran and to deposit their money in Iranian banks an interest rate of over 15 percent, "a semi-attractive percentage yield good financial returns," he warned of "the gravity of another exodus of Iraqi funds." He believed that "citizens to travel to Iran to deposit their money in banks or invest in important implications for the future of the private banking sector, which is witnessing falter in performance with double the strict censorship."
Hussein made it clear that private banks "facing the problem of lack of liquidity," attributing it to many reasons, the most important "not to get borrowers contractors, importers entitlements from the government, what made them slow to refund discharged to the banks." He pointed out that this was "exacerbated the problem of private banks with depositors."
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