Economist: The free mass is estimated at 70 trillion dinars and can be invested electronically, 20 SEPT

  Economist: The free mass is estimated at 70 trillion dinars and can be invested electronically

Economic expert Dr. Safwan Qusay confirmed today, Sunday, that there are about 70 trillion dinars of free money supply, pointing out the possibility of investing it through the transition to the electronic system in financial transactions.

Qusay told Al-Maalouma, “Focusing on investing in financial inclusion is accompanied by many benefits, the most prominent of which is withdrawing the free cash flow outside the banking system, which is estimated at about 70 trillion dinars, or an average of 2 million dinars for every Iraqi citizen.”

He added, "This amount could lead to an increase in liquidity in banks and increase their ability to grant through small and medium income-generating projects or by increasing the capacity for long-term strategic investment financing."

He pointed out that "Iraqi banks have the qualifications to switch to the electronic system, noting that "the transformation of the financial sector to the electronic system with credit cards will pave the way for attracting international investments and increasing confidence in the Iraqi economy."   link