The deployment of a savings culture supports the development process

Banker urged private banks, an expert on the search for sources of financing intervention in the development process and the exercise of real banking business, and to provide banking services encourages citizens to save their money in these banks. It has seen a recent reluctance of many citizens of the deposit of surplus money in the need for private banks, because of the decline of services provided, and the collapse of some banks and their inability to repay the shareholders and depositors entitlements. Expert conciliator Hassan called on private banks to search for sources of income contributes to increase its business in the development process and the exercise of real banking business in the finance and others, without relying on the dollar and money orders only in their work. He also urged the concerned authorities to disseminate and educate citizens about the culture of saving, especially during the present time and what is going through the country of variables. Hassan said in a statement »Sabah»: The «encourage citizens to save can only be done by administrative decisions independently, so it has to be to seek to apply these measures and changing banking habits (the amount of transactions through banks)». It shows the good and the difficulty in spreading a culture of savings in Iraqi society during the present time due to several factors, the most important, collapses some banks which has shaken the confidence of citizens in the banking system, and other factors. As for the recession and scarcity of liquidity in the market, says Hassan: It's a clear case of during a stop a lot of service projects and reconstruction projects in Baghdad and the provinces movement due to the lack of revenue entering the country because of the collapse of global oil prices, which relies country proceeds in full, Mazad unemployment indicators , low activity of banks. And satisfy the needs of the consumer citizen from traveling and shopping for each new, Fischer expert that the opportunities available as a result of deprivation, this is what led to consumer behavior prepared by economists distorted, so emphasize the importance of saving in order to reduce excessive consumption, he says, calling at the same time the concerned authorities and the World Bank Central to change and the development of banking transactions in order to attract foreign investment to the country for the purpose of entering development in various sectors.