Can not defeat the Iraqi dinar!

Central Bank unveils measures to cover the national currency against the dollar and confirms: can not defeat the Iraqi dinar

09.25.2013 10:13

Can not defeat the Iraqi dinarRange Press / Baghdad
The central bank, on Tuesday, on his way to take new measures to cover the value of the Iraqi dinar against the dollar, and as pointed out that the stability of the dinar exchange rate has implications for Iraq’s trade with various countries of the world, he stressed that the Iraqi dinar “can not defeat.”
The governor of the central bank and agency Abdul Basit Turki said in an interview to (range Albers), “The central bank intends to make the Iraqi dinar stable to some extent against the dollar, especially in this Alguetrh difficult,” asserting that “the central bank has taken specific actions to work to cover the value of the Iraqi dinar . ”
The Turkish that “the Bank recorded during the past months, a decrease severe exchange rate of the Iraqi dinar, which was born upheaval significant in the local market,” noting that “the bank and through a series of decisions and actions, refer to stabilize the exchange rate of the dinar against the dollar, and this reassured the market The dinar is still strength, can not be defeated by any party whatsoever. ”
Turki stressed that “the stability of the dinar exchange rate is of great importance to the revitalization of trade and economic movement of Iraq with various world countries, the fact that Iraq has the commercially promising market, can make the dinar currency position among all the present and future.”
The Central Bank of Iraq announced, earlier, the cancellation of banking companies is registered has regardless of obtaining clearance from the Ministry of Commerce or not, and stressed that the banking companies registered and certified before 2003 were 300 companies only, as pointed out that companies exceeded Thousand It a mixture of companies that operate in accordance with the conditions and regulations of the bank and the other got the approval from the Ministry of Trade, while other companies operate without getting any vacation.
He called on the International Monetary Fund Central Bank of Iraq to “take measures to gradually towards the liberalization of view of foreign exchange through auctions held by the Bank so as not to repeat disorders suffered by the financial market in the past year, while stressing that the establishment of a banking system nationalist requires abandoning the current model which controlled weak banks by state-owned receive preferential treatment apart from private banks, “calling on Iraq to do to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.