The Culture Of Savings And The Dinar Crisis!
The Culture Of Savings And The Dinar Crisis!
12/14/2021 | 4:22 PM
Dr. Muhammad Falhi…
Al-Rafidain Bank called on citizens to save, and announced a few days ago, financial benefits amounting to (4%) for citizens who deposit their money with the bank. Needs more clarification!
Money is the backbone of contemporary life, and the economic cycle in society, like the blood circulation in a living body, should be smooth and regular, and there is no doubt that the reluctance of most citizens to deal with Iraqi banks, and the absence of a culture of saving, is one of the most important aspects of the financial crisis. It is huge that is traded in the hands of people on the street, and does not enter into the accounts and treasuries of banks, among them and the most important of which is the Rafidain Bank, and this is an economic, social and media problem at the same time!
The future bank calls on citizens to save in a brief news of a few lines, and it may expect, after that, that citizens will carry bags filled with dinars and rush to banks, to put their money in safe safes, and return to their homes happy, dreaming of the promised profits, despite their insignificance compared to the banks of the world. Which works to constantly increase the interest, especially in times of crisis, in order to circulate and save money at the bank, and not at home, as the Iraqis do!
Savings in banks requires a new economic culture, changing social habits, and activating the process of persuasion through the media, in order to change financial behavior, and a shift takes place in society from paper money to electronic transactions, and for every citizen to have an electronic bank account.
Persuasion in the savings process requires a media and advertising plan that aims to provide news, information, facts and benefits that the citizen derives when he deposits his money in the bank. For good handling and administrative interaction, and reducing paper-based routine procedures to the minimum possible in the operations of account opening, depositing, withdrawal and balance follow-up.
There is a lack of trust between the citizen and the banks, in general, and there are bridges cut between the two parties, for a long time, that should be restored and increased, by creating interactive windows for media communication to gain the approval of the public, before the citizen takes the initiative to put his savings in the bank’s coffers, even if you look at the websites For most Iraqi banks, I found them neglected, reflecting a bleak image of the bank, its management, procedures, and slow complex transactions!
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