Economist: need to increase interest on bank deposits to encourage citizens to bid fa
Economist: need to increase interest on bank deposits to encourage citizens to bid farewell to their money in banks
Date: Wednesday, 21-03-2012 01: 36 pm
Baghdad (newsletter) ... The Economist called Ismail Radi need increase the value of the interest money deposited in banks to encourage citizens to bid farewell to their money and invest in projects that serve the country.
He said Radi (News Agency news) on Wednesday: it is necessary to take a bold decision by the monetary policy of the Central Bank to increase interest value of amounts deposited in the banks, for the purpose of paying farewell money wealth owners towards banks and invested in projects that serve the country like some countries in the world, noting the existence of significant funds frozen in some citizens without investment.
Lukman said, adding: that most countries monetary policy depend on increasing benefits for funds deposited in banks to attract many funds and investment service and economic projects, pointing out the owners of wealth and abundant amounts of Iraqis started heading abroad to deposited their money in those States for the purpose of obtaining annual profits.
Economic expert criticized the work of banking policy in Iraq by reducing the interest on money deposited in banks, making most citizens come to banks to withdraw their money, and this has led to confusion in the banking business and make it inactive.
The interest prescribed by the Central Bank for funds deposited in banks (3%) Year