Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact
No Result
View All Result
Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact
No Result
View All Result
Dinar Detectives - Iraqi Dinar Recaps from Dinar Guru and Intel
No Result
View All Result
  • Home
  • News
  • Dinar Guru
  • Video
  • Audio
  • Contact
Home Dinar Guru Updates TNT

TNT More News, Rumors and Opinions Thursday Afternoon 4-13-2023

April 13, 2023
in TNT
Share on FacebookShare on Twitter

TNT:

 

Tishwash:  Iraqis create their own financial system: We deposit the dinars in the bank and store the dollars at home

 

Iraqis create their own financial system: We deposit the dinar in the bank and store the dollar at home »

 

For months, citizens have resorted to depositing dinars and storing dollars in homes, in an attempt to adapt to the exchange rate, while financial experts suggest adopting the dinar only in internal transactions, aand ending dollarization in the iraqi markets.

 

This shift in the financial behavior of the Iraqis resulted in an increase in the volume of dinar deposits to more than 57 trillion dinars, yet 70 trillion dinars are still outside the banking system, according to information collected by the 964 . network

 

Economists and banking officials said that the financial behavior of individuals has changed with the exacerbation of doubts about the banking system and fears of a repeat of the Lebanese scenario, despite the central bank’s assurances that Iraq’s situation is different because the deposits are “guaranteed by a ”.specialized company

 

new compass

 

Economic expert Hussein al-Khaqani says that the dollar crisis has prompted citizens to change “the compass of financial transactions, away from banks, as ”.the majority resort to storing hard currency in homes Al -Khaqani added,  to Network 964 , that“citizens who deal in dinars regularly, deposit it in banks to collect it in the short and not long term, in order to ”.withdraw it and convert it into dollars that are stored in homes

 

076/Raed Hamed”financial model“

 

When the dollar crisis escalated, and the exchange rate for the $100 category reached 180,000, the engineer, Raed Hamed, (32 years old), followed a new financial plan, requiring withdrawals from his bank account in dinars, provided .that his salary, which he receives in dollars, be deposited in its place Hamed tells 964 Network , “I have two accounts; One of them is in dinars, and the second is in dollars, and when the local currency collapsed, I followed a plan to minimize the damage, by depositing my salary that I receive in dollars, and .withdrawing the equivalent or less of it in dinars

 

Officials and experts attribute the citizens lack of confidence in the banking systems to many reasons, most notably the lack of infrastructure in the more than 70 banks

 

However, the government is trying to introduce electronic points of sale (POS) that rid market transactions of paper cash, in favor of using electronic payment .cards

 

Smart financial transactions

 

An official at the central bank says, “The banking culture is making progress in Iraq, in light of the expansion of the use of smart cards, and the increasing “.number of employees who have settled their salaries

 

Despite this, there are about 70 trillion dinars circulating outside the banking .system, while the monetary mass is currently about 100 trillion dinars

 

The official, who declined to be named, added to 964 Network , “Hoarding money in homes prompted the Central Bank to take measures to promote technology in the financial sector, such as using smart cards to pay government transaction “.fees

 

The Central Bank went further, after establishing a “deposit guarantee company”, to secure customers’ funds, and in the event that a bank declares bankruptcy, the .company will compensate it

 

Last January, the Council of Ministers obligated all governmental and nongovernmental departments to open bank accounts and provide point-of-sale devices for electronic payment (POS), to collect money, and encourage people to .open bank accounts

 

7 million bank accounts

 

On the other hand, the Executive Director of the Association of Banks, Ali Tariq, believes that the dollar crisis has reflected positively on banks, with an increase in the demand for opening bank accounts by merchants for the purposes of financial transfers, especially after adopting the exchange rate of 1300 when .transferring abroad

 

Tariq added, in a statement to 964 Network , that“the volume of deposits are much less than that.

 

Tariq asserts that the final solution to the dollar crisis lies in “ending dollarization, and adopting the dinar in all sales inside Iraq, while the dollar is used for external ”.dealings in travel or importing goods and others   link

 

************

 

 

Tags: 4-13-2023afternoonandMarkzmorenewsopinionsrumorsthursdaytnt
Previous Post

Pimpy

Next Post

MarkZ Short Thursday Evening Chat with MarkZ

Related Posts

TNT Wednesday 9-11-2024

TNT 02-02-2025

February 3, 2025
RayRen98

TNT 01-26-2025

January 26, 2025
TNT Wednesday 9-11-2024

TNT 01-23-2025

January 23, 2025
RayRen98

TNT 01-21-2025

January 21, 2025
RayRen98

TNT 01-17-2025

January 17, 2025
TNT Wednesday 9-11-2024

TNT 01-16-2025

January 16, 2025

At Dinar Detectives, we provide daily dinar updates and dinar recaps, featuring insights from popular dinar gurus. Stay informed with our comprehensive coverage of the latest dinar chronicles and gain valuable insights from dinar guru opinions.

Links

  • Home
  • News
  • Video
  • Audio

Useful

  • Privacy Policy
  • Disclaimer
  • Resources

Investment Indicator
Dinar Tube
Crypto Recaps

  • Privacy Policy
  • Disclaimer
  • Resources

© Dinar Detectives. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • News
  • Dinar Guru
    • Judy Byington
    • MarkZ
    • Ninja
    • TNT
    • FRANK26
    • Bruce
    • KTFA
    • Mnt Goat
    • Pimpy
    • Militia Man
    • Nader
  • Video
  • Audio
  • Contact

© Dinar Detectives. All Rights Reserved