Iraq’s banks refuse to ante up amid liquidity shortage
Private banks in Iraq are facing a liquidity crisis that has led to limiting allowed withdrawals, much to the dissatisfaction of citizens.
BAGHDAD — Iraq’s private banking sector is having trouble meeting customers’ demands because of liquidity issues, leading to unrest and worry.
Some banks are limiting withdrawals to a specific percentage of deposited funds, while others have stopped allowing them altogether. In addition, even funds originally deposited in US dollars can only be withdrawn in Iraqi dinars, according to the Central Bank’s exchange rate.
