Finance parliamentary: the central bank is responsible for the high exchange rate of the dinar

Finance parliamentary: the central bank is responsible for the high exchange rate of the dinar

4.18.2013 | (Voice of Iraq)

She noted a member of the Finance Committee for the Kurdistan Alliance MP Najiba Najib to the need to restructure the Iraqi currency, stressing that this will affect positively on the economy, while loaded the central bank responsible for the high price of the dinar against the dollar.

said Rep. Najiba Najib in a statement to PUKmedia, today Thursday, 4.18 / 2013, the restructuring of the Iraqi currency has become an urgent necessity, the fact that the current currency is able to adapt to the size of Almozanat large nor with the size of the state revenues, being few in the class, stressing that the restructuring will have an active role in the progress of monetary and fiscal policy affects a positive impact on the economy.

said Rep. Najib said the previous administration at the central bank, who were deported had delivered the project to the stage of a very sophisticated, leaving them only support the government and the House of Representatives, pointing out that the new currency will be applied in accordance with the application of the Iraqi constitution ČÇŐĎÇŃĺ bilingual official (Kurdish and العبية ), and that the form of currency must contain the features of a civilized belong to all the components of the Iraqi people.

in the context of another loaded MP Najib management of the central bank responsible for the high price of the dinar against the dollar in recent times, and deferred due to the inability of the existing central bank control and control of the market, especially Department of the currency auction is located in Central, noting that the Finance Committee in the Iraqi Central is one of the main reasons, to increase the rate of exchange that currency auction and banks that deal with the central limited to some of the banks and the people dealing with it, and that their offices are not only works as a front to Buy Fake dollar is illegal and unjustified, and their goal reap the profits from the operation, adding that the circumstances of the current regional and strong demand from neighboring countries (Syria and Iran) have affected the value, pointing to the lack of independence of the central bank in the command and control of monetary policy and the lack of decisions and controls to reduce the exchange rate.

considered MP Najib that the absence of regulators minutes and influential management banks greatly influenced the high price, noting that there are a number of beneficiaries, employees of state-owned banks and eligibility are dealing with some of the offices within the network of large and trying day buy the amount of dollar to control the price.

said MP Najib that there are steps of Parliament to host the central bank governor and the agency involved with the Department of renewed currency to find a solution quickly and effectively to the issue should be dealt with as he put it.

confirmed MP Najib said the government when the change الكفوئين who have international experience and local policy cash negatively impacted control over monetary policy, pointing

and pointed out that there are limited beneficiaries of the process and aggravated the problem is that the state authorities did not intervene, asking the House of Representatives larger role in the activation of the financial and economic committees must be to have a pause serious. PUKmedia the special