CBI crisis could hurt nations creditworthiness

A source from within the Iraqi Central Bank that the recent crisis, following issues financial and administrative corruption made against senior officials, and the news conveyed by the media about charges similar to each managers of private banks in the country, has cast a shadow over credit conditions, deposits and banking transactions and the level of customer confidence that Banks have led to withdrawals of funds by depositors after the bank liquidity eligibility.

The source for »the future of Iraq» that «the crisis will be reflected effects in the near future which will see the loss of some private banks, which will create financial problems affecting the molecules important local economy».

Source explained that the fear among depositors and clients of private banks grew with all the news published by the media, and it refers to financial and administrative corruption long operations of those banks with the knowledge of the Iraqi Central and coverage and the involvement of these banks in the operations of financial corruption by central bank auction of dollars.

The source pointed out that «the secret operations are to finance companies and individuals speculating currency through funds of those banks which customer deposits which are used in buying and selling at auction Central» noting that «the profits up to large proportions than ratios that may generate benefits of deposit operations investment funds according to banking methods.

Source confirmed that there is a future financial crisis manipulation and people rushing day to withdraw their money from private banks, a sign is economically healthy