Expert: deteriorating conditions behind the “escape money”

EXPERT: DETERIORATING CONDITIONS BEHIND THE “ESCAPE MONEY” TO THE OUTSIDE

Baghdad (news) .. Said banking expert Majid picture, that the security situation and the economic and behind the flight of money abroad. said the picture (of the Agency news): that the current situation has led to people resort to pull their money out of banks and convert them out of Iraq to maintain them, indicating that the escape is a legitimate and legal because it is the process of converting reverse process ‘smuggling money.’

and between: the continuation of the process of withdrawal of deposits will harm the overall activity in the market and the Iraqi economy, and reduce the contribution of private banks in the development of economic projects in the country that reports have indicated an increase withdrawal rates of the citizens of the deposits of financial saved in local banks due to the deteriorating security and political situation in the country.

ikhnews.com

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