House Speaker discussed with CBI Gov. control mechanisms on the exchange rate and the development of the Bank’s work

Posted by on Oct 23, 2013 | Leave a Comment

Search House Speaker Osama Najafi with the Governor of the Central Bank of Iraq and Abdul Basit Turki agency, control mechanisms on the exchange rate, and procedures against the violation banks.

The central bank has promised to take measures to lift and install the dinar as it was in the past, but the rate of the dinar is still volatile in the Iraqi market to fall and rise. According to a press release of the Office of the President of the House of Representatives that “Najafi discussed during a meeting in his office’s central bank governor Agency ways to reduce the damage caused by Policy bank earlier and forwarded to the judiciary.

“and added that” Najafi expressed during the meeting to support the House of Representatives of the Central Bank and his administration the current in order to strengthen the cash balance and control of the exchange rate to serve the interests of the Iraqi citizen, stressing the importance of completing procedures develop the Bank’s work, especially in the field of electronic connectivity with banks and regulatory authorities such as customs and taxes.

“The statement added that” the meeting dealt also discussed the measures undertaken by the banking policies to remove the implications in the period after the lifting of U.S. protection of Iraqi funds in and out of the provisions of Chapter VII.

“and called on the President of the House of Representatives to” hold meeting with the Committee on indebtedness, headed by Rose Nuri Shaways Deputy Prime Minister for Economic Affairs and the membership of the oil minister, Justice, Finance, Foreign Affairs and Chairman of the BSA, to study and discuss the mechanisms followed in addressing the issues of debt after the lifting of U.S. protection for Iraqi funds.

“The Central Bank of Iraq, issued new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies select the stakes weekly for banks and money transfer companies and trading firms currency from the dollar is estimated according to the capital of each of them, and will increase and reduce this share compared to the commitment of all of them deliver the amounts they want customers from citizens.

baptizing the central bank to put the dollar at an auction for the sale of foreign currency at subsidized prices and the lowest of the exchange rate real in the market to support the dinar. “facing the central bank charges to staff it in conjunction with state officials Baalmyat corruption and smuggling of currency and is subject to the Bank is to investigate long-manager, former Shabibi, who left Iraq a few months ago.

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