Central confirms the high sales of foreign currency

Central confirms the high sales of foreign currency

On: Tuesday 14/2/2012 7:57

Baghdad / follow-up long 
stressed the central bank did not reduce the sales of hard currency, but the imposition of measures to protect the country’s economy from deteriorating. 
Deputy Governor of Bank of the appearance of Mohammed, according to (Rn), bank sales fell after the imposition of new measures for transactions of $ 200 million to less $ 4 million last Thursday, “noting that” sales on the rise and reached about 68 million dollars. “

Saleh added: “The analysis of the bank to refrain from buying the difficult process due to two reasons: first is the existence of a users tried to thwart the measures the Bank’s new and controls, and the other reason is the existence of a culture of fear among Iraqis.”

He said “a lot of Iraqi traders have dealings many and they have fear,” He pointed out that “the bank discovered that some traders do not have a bank account,” and expressed surprise at “the existence of traders do not have a bank account.” 
and that “some sowed that the central bank cut its sales of foreign exchange thus leaving an impact in the market led to the rise of the dollar compared to local currency “, describing the rise of” temporary. ” 
and saw the price of the dollar relative to local currency increased during the past few days which is attributed by officials of companies banking local to stop the central bank sales of foreign currency. 
at the same time the favor of the Government of the country trade in Canada, a small too that there is no role for banks in Canada, on the deposit of Iraqi funds. 
Saleh said, according to (Rn) that “Iraq’s dealings with Canada is very weak and does not reach the stage of warning from the deposit of money in Canadian banks.” 
and “Eliminating the Canadian was not fair with Iraq did not interact with the process of political change that took place in Iraq. ” 
He pointed out that the central bank with the government has a plan focused on protecting the money from creditors ghost who did not join the Paris Club agreement. 
to that confirmed the national investment that international companies do not object to the performance of local banks, saying it decided to open the door of investment to build 100 housing units in each of the provinces of Basra and Mosul. 
The Economic Commission has called last week to provide banking facilities to companies of foreign investment 
, said head of the investment Sami al-Araji, according to (Rn) that “the investment companies in Iraq is not have any problem in the work of banks. ” 
and added that “the investment will be within the project of one million housing units of investment projects in the provinces of Mosul and Basra.” 
and pointed out that “the Investment Authority gives priority to the display housing projects and services in coordination and cooperation with all relevant ministries including the Ministry of Construction and Housing, Municipalities and Public Works and provincial councils. ” 
and watching the World Bank, the process of development and investment in the country by a team of experts headed by the Economic Majid picture. 
and demanded the World Bank, the government enabled system, single-window and the formation of a committee of senior officials to facilitate the entry of foreign companies in order to promote investment in the country. 
announced Committee on Economics and investment representative, earlier, support for the orientations of government efforts to an amendment to the Investment Law in force No. 13 of 2006, indicating that the problem of land acquisition by the investor is still the problem is most complex. 
and Iraq admitted in 2006, Law No. 13 Special investment to encourage foreign companies to enter the country and to contribute with the government’s efforts to rebuild the crumbling infrastructure due to war and siege. and the First Amendment, conducted by Iraq to the law in 2009 allowed the foreign investor the right to own land and property belonging to the state allowance determined in accordance with special regulations, and has also the right to own land and property belonging of the mixed and private sectors for the purpose of the establishment of housing projects.