Did Iraqi people lose their deposited assets in Iranian Banks?

After the collapse of the value of the Iranian riyal, recent data showed the loss of money of Iraqi citizens. In spite of, there are no official figures about the information of Iraqi depositors no one knows that what amount they have the deposit for profit in Iranian banks, the newspaper Asharq Al-Awsat reported in a report that the economic pressure facing Iran and the fall in the exchange rate of the riyal. The Iranian rates at large showed the travail of a large number of Iraqi citizens as a result of losing more than half of their money they put in Iranian banks. Many Iraqi citizens spoke mostly about losing more than half of their money in these banks. Iranian banks demand Iraqis who have money in US dollars to convert them into Iranian rials and deposit them in cash.

Iraqis lose half of their assets

The Iraqi politician and investor Mazen al-Ashayqar said “I hoped that with the implementation of the first package of economic sanctions on Iran on August 6 next, the value of the tuman will fall more than it is now and the value of the tuman will crash in November after the implementation of the second package of sanctions it will consist of the complete ban on the import of Iranian oil”. In central Baghdad, one trader said that many of traders have deposited large amounts in the US dollar in Iranian banks. There are also typical citizens from Baghdad and the provinces, especially in Karbala and Najaf, but today they are suffering a lot of mishaps. If we deposit an amount of 400 thousand dollars in an Iranian bank, we will face the loss of more than 300 thousand dollars. This loss is the cause of the current dissolve in the Iranian currency.

At the Iraqi University the professor of international economic relations, Abdul Rahman al-Mashhadani condemned the government and the Central Bank of Iraq. He said that people had lost their all savings and houses because they deposit their money in Iranian banks. He told that it was worth the official authorities to warn citizens not to deposit their money in banks a country that is worried and economically unstable, but sadly it did not do it. The Iranian riyal continued today, its record decline against the dollar and exceeded the exchange rate of one hundred and twenty thousand riyals to the dollar, losing half of its value in 4 months, while observers were likely to lose the riyal more value with the near imposition of US sanctions in August.

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