By John Lee.
The Central Bank of Iraq (CBI) has held symposium entitled “Analysis of the phenomenon of Hoarding in Iraq“, addressing the problem of people hoarding Iraqi dinars (IQD), and not making them available to the banking system.
During the seminar, the Governor of the Central Bank, Dr. Ali Mohsen Ismail (pictured), pointed out that cash is not available as planned, and that the CBI is drawing up plans to solve this problem and attract money into the banking system.
According to a CBI statement, the term “hoarding” is used in its economic sense to mean “holding money and imprisoning it from circulation or keeping them in the boxes inside the house and not taking them out to trade in the markets.“
(Source: Central Bank of Iraq)