Expert: deteriorating conditions behind the "escape money" to the outside

by **Rocky** Fri 13 Dec 2013, 4:02 am

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Post n°1

Expert: deteriorating conditions behind the "escape money" to the outside

by Rocky Fri 13 Dec 2013, 4:02 am

Expert: deteriorating conditions behind the "escape money" to the outside

12-12-2013 01:43 PM

Baghdad (news) .. Said banking expert Majid picture, that the security situation and the economic and behind the flight of money abroad.

And said the picture (of the Agency news): that the current situation has led to people resort to pull their money out of banks and convert them out of Iraq to maintain them, indicating that the escape is a legitimate and legal because it is the process of converting reverse process 'smuggling money'.

And: that the continuation of the process of withdrawal of deposits will harm the overall activity in the market and the Iraqi economy, and reduce the contribution of private banks in economic development projects in the country

The reports indicated that an increase withdrawal rates for deposits of citizens financial saved in local banks due to the deteriorating security and political situation in the country.

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