“SECURITY CONCERNS” ARE DRIVING IRAQIS TO WITHDRAW THEIR MONEY FROM STATE-OWNED BANKS.
(Here we go again. Apparently there is no other solution other than to go with the collection of these large notes under the project to delete the zeros. Deadlines for turn in must be established regardless of that these RV intel gurus are telling you.)
An informed source reported on Monday that state-owned banks in Iraq, particularly Rafidain Bank and Rasheed Bank, are suffering from a severe liquidity crisis and a shortage of cash, with a clear decline in the funds available within those banks.
The source told Shafaq News Agency that “citizens who have deposited money have been withdrawing their funds from government banks recently as a result of security concerns and developments in the region.”
He added that these concerns stem from escalating regional tensions, particularly the war between the United States and Israel on one side, and Iran on the other, and the potential repercussions this could have on the security and economic situation in Iraq.
The source indicated that government banks are still suffering from problems resulting from administrative and legal violations in their work, as they have not witnessed serious steps to develop their banking systems in recent years, as they still rely heavily on paper procedures and traditional methods of work, far from adopting electronic systems and modern banking technologies.
