Kazem Attia, a member of the Parliamentary Economics Committee, held the significant bank responsible for the coins liquidity disaster, pointing to the banking system’s failure to locate effective mechanisms to recycle currency inside the system.
“The failure of the banking device has led residents to hoard their money of their homes and lose self assurance in banks despite the introduction of digital payments,” Attia instructed dinaropinions.com.
He brought that “maximum of the money deliver is located outdoor the banking quarter, which suggests weak spot in the banking machine,” pointing to “weak self belief inside the banking device, further to the absence of a subculture of coping with banks and taking advantage of banking offerings.”
He careworn that “the banking sector is very backward, and it is difficult to persuade citizens to deposit their money in banks. As a result, the Iraqi financial system suffers from high liquidity in the market.”
