In Iraq many people don’t trust banks. They feel it’s safer to keep their money in their homes…This fear is causing a serious problem for Iraq’s economy. Out of 105 trillion Iraqi dinars in the county only 20 trillion are actually being used in the market...This means a lot of money is just sitting and doing nothing to help Iraq grow. This is not counting the IQD banknotes in the United States and other counties…One solution that eliminates all of the Central Bank of Iraq’s problems is to create an entirely new currency. They would give people a window of time to exchange the old banknotes for the new currency. This solution would take care of the hoarding of cash and the billions in IQD banknotes in other counties. We must be prepared for this possibly scenario.
