Interactions currency auction
Interactions currency auction
3/22/2015 0:00
Yasser incumbent
accounted for the Iraqi Central Bank’s decision due to adjustments in the currency auction system of interest involved and interested Overall, monetary and financial, in particular, economic affairs and caused controversy among bankers and banking led to the lifting of the exchange rate as a result of legitimate concerns, but dissipated after image clarity about how the new mechanism appeared and it is expected to stabilize soon.
The new mechanism identified commissioned banks fulfillment Deposit fees and taxes and customs for imports in advance and then to convert currencies into correspondent banks about the value of deals so that the government ensure determining the tax this mechanism evasion and so as to provide revenues for the budget.
Now how can we read such This assignment Awalajraouat? Some imagine it as an abandonment of responsibility and throw it in the custody of banks, as we see it as a step on the right path gradual transition toward a market economy, because the mandate of the banks with the task of solid state devices tasks mean much at the forefront of confidence back strongly in the private sector’s ability to adopt economic file management the size of this trust.
So the central bank actions this is bold in reliance on the adoption of the private sector large and heavy responsibilities in this critical phase of the step, and so several targets have been achieved in the forefront of involving the private banking sector in particular responsibilities were exclusively of the state, eight this mechanism will contribute to the deepen automatically tax traders culture.
Apart from providing such banking service in return or for free, it calculates the Central Bank of success in achieving a true partnership between the public of Bantrza and private of the banking sector and can be counted step Alonmozjah partnership which has long advocated by experts on such a pattern of partnership and this goal last check by the experience.
In order to write for this step of success, for the banks is the responsibility of proving the ability to carry such a heavy responsibility and the success of the central measures to maintain the currency and Marodha stability in the market by providing revenue for the state through this mechanism transparently, when That Stsah theory that the backbone of the private sector is the banks and without them there is not the private sector in total.
eight there is a very important issue of the responsibility of the central bank to pursue the application of this mechanism efficiently and responsibility to be a later one means of evaluating the performance of banks and launch a deal and ministries of the State with the basis of depth This confidence.
alsabaah.iq
