Smaller IQD notes scarce due to unwillingness of banks to deal with them, says expert

Posted by on Oct 29, 2013 | Leave a Comment

24-10-2013 10:30 AM

Baghdad (news) .. Financial expert attributed Ahmed ابريهي, the cause of the scarcity of small-class currency in the Iraqi market, to the unwillingness of banks to deal and do not receive from the central bank.

He said ابريهي (of the Agency news): that most banks do not receive a paper currency with a small class (250, 500 and 1000) dinars, the central bank and to go ahead deal out, Maady to scarcity in the Iraqi market.

Called ابريهي: Iraqi banks that receive large numbers of small-class currency from the central bank and posed in the market to satisfy needs, noting that the move will allow the bank to find out from the currency market’s needs and increase reprinted.

He added: The scarcity of this category resulting in ماموجود damage to trade, noting that the citizen can replace damaged currency has new ones through banks an easy and legal treatment.

The Finance Committee confirmed that the reasons for the scarcity of the currency with small groups to speed damaged, prompt the central bank to print new ones and pull the damaged them to create a balance amount in the Iraqi market categories

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