Tishwash: keep in mind the dollar has been very volatile this past week it's at or just about at 1600 dinars per dollar but this is definitely interesting
Most private banks closed, fears of liquidity crisis amid citizens’ anger
Today, many banks in Iraq witnessed a state of chaos and tension after their sudden closure, which raised widespread concern among citizens, especially with the emergence of reports about some other banks refusing to return customers’ deposits under the pretext of a lack of cash liquidity.
This development prompted many citizens to quarrel with the management of the banks that remained open, amid growing fears that the officials of these banks would flee after emptying them of money.
The banks that have closed their doors include:
World Bank
Ashur Bank Babylon
Bank
Al Ansari
Bank Middle East
Bank Al-Qabeed Bank
Noor Iraq
Bank Trans Iraq
Bank Al-Huda
Bank Mosul Bank
As for the banks that remained open, but refused to return customers’ deposits under the pretext of lack of liquidity, they include:
National Bank,
Baghdad
Bank, Development
Bank, Al-Nasik Bank
, Bank of the South,
United Bank,
Union Bank,
Al-Tayf Bank
The sudden closure comes amid reports of financial turmoil hitting Iraq's banking sector, with many customers fearing they will lose their money amid growing rumours that some bank officials are planning to flee the country after withdrawing assets from branches. link
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