💸 Iraqi Banks Frozen in Time From Lenders to “Trustless Piggy Banks
Iraq’s banking system is facing a deep credibility crisis.
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Major state-owned banks like Rafidain are halting loans, reverting to paper-based systems, and sidelining automation — a major step backward for a country striving toward financial reform and digital transformation.
Financial experts warn that without modernization, transparency, and electronic integration, Iraqi banks risk becoming obsolete — “piggy banks without trust.”
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