Negative interest and culture of the community ..
02/14/2016
Zaher al-Zubaidi, at a time when the Iraqi Central Bank announced its intention to raise the interest rate on the money deposited in the treasury to +18% in the hope of attracting more money for recycling to serve the increased liquidity necessary rates to finance the federal budget and an attempt to attract approximately 60% of the masses of cash in circulation which are unlikely to now be in Iraqi homes; the Bank of Japan announced the adoption of the negative interest rate policy, and by -0.1% on money deposited with him any that the bank would be imposed on commercial banks to pay 0.1 per cent on some deposits has in step promised sudden economic circles a little third largest economy in the world. negative interest policy that is not intended to provide liquidity, but is for the purpose of moving the economy and encourage banks to lend, and addressing economic downturn and overcome the recession, as it was for such a move objective biggest is that access the value of inflation targeted by the Bank's 2% after it reached a -1%, which is known as an economic negative or deflation to inflation deflation, not Japan alone followed that policy had been preceded by many European banks, including Swiss banks, but that happens for the first time, such a move rose, including the main Nikkei 225 index at the Tokyo Stock Exchange, immediately after the adoption of the resolution 546.71 points, to 17 thousand and 588.16 points, while the yen slipped against the dollar of 118.65 yen to 120.40 yen to the dollar. here comes the role of the most important success of the banking business factors, trust, those that squandered its blood rampant corruption and cases of major security decline, although cases of robbery and theft of funds by gangs of criminal operations of an armed robbery, murder and theft of large sums of up to hundreds of millions of dinars; did not pay others to achieve immunity on their money in banks and financial corruption toppled to the other pillars of trust which was supposed to be built on the foundations of a strong and elements able to attract money Petrlionat dinars has estimated a month to 40 trillion dinars compensation allocated to staff the value in the budget of 2016, even if the work attracts a part of that money, there would have been a liquidity monthly fixed augmented by some imports to believe the salaries of millions of Iraqi staff who do not possess only what Atkadoh month. large theft crimes had been discovered years ago in a series of such offenses is placed bone where we are from financial corruption, and Accessories, notorious, one of the landmarks of those crimes and others who circumvented the banks, what was embezzling may be a little Nsibia compared to what was discovered fraud in the auction daily currency sale revealed by the parliamentary Finance Committee and investigations are under way in.We need to re-consider a comprehensive financial and accounting our system for the purpose of identifying weaknesses that gaping and makes it a possible target for the flagrant violation by the begging him himself, and most of them, but we lose that trust which is the mainstay banking, our need for international expertise is inevitable, we focus on the retrieve, as soon as possible to integrate the image in front of trying to pay his money to the central coffers, If we assume that the CBI would impose ratio negative interest, what will happen? Will empty depositors vaults at lightning speed, while not received it in Japan or even in Denmark and the Swiss when applied to such interest, so that the confidence enjoyed by those banks made it a repository for global funds a huge rush by depositors. There are social culture we have that we can through our efforts to Nrkzha the children of our society to Atdarqua us what is going through the country from economic crisis to understand the bulk of the solution and will realize it soon. Zzubaidi@gmail.com
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