Member of the Parliamentary financial system and trade Committee, Kazem Attia Al-Shammari, showed on Tuesday that there may be a clear weakness in the Iraqi banking system. He pointed out that a large amount of money in flow stays outside the banking system and saved in citizens’ homes, exacerbating the liquidity disaster facing the authorities.
Al-Shammari advised dinaropinions.com that “the dearth of citizen self assurance inside the banking machine continues to represent a actual impediment to the development of this quarter,” noting that “the banking window gadget suffers from a clean disorder, which negatively affects the performance of banks.”
He added that “big quantities of coins are stored in residents’ homes, far from banks, which has brought about weak monetary flows and a decline in liquidity within the reputable marketplace, hindering the nation’s ability to finance some of its duties.”
Al-Shammari talked about that “the Iraqi banking region nonetheless lags at the back of contemporary banking standards and lacks powerful financial activities. Many banks also fail to meet their duties to clients, which deepens the trust gap and forestalls deposits.”
