In Numbers ... The Banking Sector During 2024 Is Witnessing A Decrease In Total Deposits
Economics 2025-03-06 |Source: Alsumaria News 616 Viewed Alsumaria News -banking sector witnessed During the year 2024, the Iraqi a noticeable decrease in total deposits, as
it decreased by 9%, to decrease from 133.5 trillion Iraqi Iraq Future Foundation dinars at the end of 2023 to 123.5 trillion Iraqi dinars, registering a loss of 10 trillion dinars, according to a report published by the independent concerned with economic affairs.
The head of the Foundation, Manar Al-Ubaidi, said in a post that Alsumaria News followed,
this decline is mainly due to a decrease in government sector deposits by 14%, as it decreased from 47.3 trillion dinars to 42.8 trillion dinars.
The deposits of public institutions decreased by 7.4%, declining from 29.6 trillion dinars to 27.4 trillion dinars. As for the
deposits of the private sector, it witnessed a decrease of 6.52%, as it decreased from 56.5 trillion dinars to 53.2 trillion dinars. At the level of the types of deposits,
the
current deposits recorded the largest decline by 11.6%, to decrease from 107.5 trillion dinars at the end of 2023 to 97.4 trillion dinars. As for
fixed deposits, it declined slightly, from 9.67 trillion dinars to 9.62 trillion dinars, in return, the
savings deposits witnessed a marginal increase of 0.7%, up from 16.3 trillion dinars to 16.43 trillion dinars, according to Al-Ubaidi.
Al-Ubaidi added that this decline raises important questions about the impact of the trend towards electronic payment and the use of modern payment techniques on the banking sector. As
it was expected that the spread of these technologies will contribute to increasing the volume of deposits, especially the ongoing ones, by stimulating banking transactions and reducing dependence on criticism. However, the
current data reflects a different reality, which requires reviewing electronic payment mechanisms and assessing the extent of their effectiveness in achieving the desired financial and banking goals. He added that
electronic payment is a means, not an end, as
it is supposed to contribute to enhancing financial inclusion and increasing dependence on banks by raising deposit rates.
As bank deposits continue to decline in this large percentage, it becomes necessary to review the electronic payment policies and its application mechanisms. The
expansion of this system must be accompanied by motivational and encouraging measures that enhance the confidence of individuals and companies in banking transactions,
instead of being a technical transformation that does not achieve the required impact on the financial sector.
https://www.alsumaria.tv/news/economy/518581/بالأرقام-القطاع-المصرفي-خلال-2024-يشهد-انخفاضًا-في-إجمالي-الودائع
