🏦 “Billions Kept at Home: Iraq’s Banking Confidence Crisis” 💸

1 month ago 4

ARTICLE AD BOX

🏦 “Billions Kept at Home: Iraq’s Banking Confidence Crisis” 💸

🗓️ Al Furat News – August 23, 2025

🔍 Key Highlights:

💰 80% of Iraqis Keep Cash at Home
Economic expert Nabil Al-Marsoumi reveals that up to 80% of the nation’s liquid money never enters the banking system — it stays in homes and private vaults.

😟 Why? A Crisis of Confidence

Recent failures of 10 banks to return citizens' deposits
Previous incidents created a pattern of mistrust
Citizens fear they may never see their money again

📑 Banking Red Tape Making Things Worse

Banks delay full withdrawals, forcing partial payments
Clients face bureaucratic obstacles
Merchants and contractors avoid depositing due to these hassles

🤝 Call for Urgent Reform
Al-Marsoumi warns that unless banks improve public interaction and simplify procedures, the financial system will remain undermined by distrust Confirmed on Live TV – Announced Exchange Rate: $6.02! – Take Advantage!🔊.

⚠️ Why It Matters for RV Watchers:

✔️ Confidence drives currency strength.
✔️ A weak banking system = barrier to revaluation rollout.
✔️ Iraq must restore trust to integrate more cash into formal systems and support IQD internationalization.

This isn’t just about economics — it’s about public belief in the system.