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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

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    Private Banks Association announces increase in deposits in banking sector over last two years

    Rocky
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    Private Banks Association announces increase in deposits in banking sector over last two years Empty Private Banks Association announces increase in deposits in banking sector over last two years

    Post by Rocky Sun 01 Dec 2024, 5:03 am

    Private Banks Association announces increase in deposits in banking sector over last two years

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    Economy News - Baghdad
    [rtl]The Association of Private Banks announced today, Sunday, the increase in deposits in the banking sector during the last two years, while indicating the government’s great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system.[/rtl]
    [rtl]The Executive Director of the Association of Private Banks, Ali Tariq, said in a statement to the official agency, which was followed by "Al-Eqtisad News": "During the last two years, deposits in the banking sector have increased, but there is still a large amount of cash outside the banking system, as this requires increasing confidence in the banking sector, whether governmental or private, and strengthening this confidence through the Central Bank of Iraq and the Iraqi government, in addition to offering investment programs for deposits that are reflected in citizens' deposits, which may achieve returns for depositors in these banks, and thus there is an incentive and motivation to increase these deposits."[/rtl]
    [rtl]Tariq added, "Strengthening the electronic payment system in Iraq has very positive repercussions on increasing the use of the banking system in payment and settlement operations, whether between citizens and government services or citizens with private commercial institutions," pointing to "the government's great interest in the recent period in relation to digital transformation in general and the shift towards an electronic payment system at the level of financial transactions."[/rtl]
    [rtl]He added, "About 75 percent of the money supply is outside the banking system and requires a great effort to encourage citizens, companies and institutions to use the banking system more, which is currently happening, but this type of work needs to be accelerated to control financial operations in Iraq."[/rtl]


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