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The Central Bank warns Iraqis of "hoarding houses"

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The Central Bank warns Iraqis of "hoarding houses"

Unread postby admin » Tue Aug 18, 2020 8:19 am

The Central Bank warns Iraqis of "hoarding houses"

08/18/2020 15:06

The Central Bank warns Iraqis of hoarding houses

[Baghdad-Where]
On Tuesday, the Central Bank of Iraq called on all citizens to deal with banks and financial intermediation companies licensed by it, warning of "hoarding in homes."
The bank said in a statement that it calls on all citizens to deal with banks and financial intermediation companies licensed by it, during large cash exchanges, instead of hoarding in homes.

He added that he "seeks through this, to preserve the money supply of citizens, to avoid cases of theft and fraud, and to promote counterfeit currency."

The bank stressed the need to "reduce trade exchange in paper currencies, which medical studies have proven to be an effective vector for viruses and bacteria, especially as the country is going through a crisis of the spread of Corona virus."

The Central Bank adopts the mechanisms of spreading financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through banking transactions with modern technologies and all forms, according to the statement.

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