CBI decides to act to support the quota system, banks
BAGHDAD / Center Brief for the Iraqi Media Network – Central Bank of Iraq announced that he decided to work to support the quota system, all banks and improve the commercial reality in the country.
Deputy Central Bank Governor Mohamed Mazhar’s (Center Brief for the Iraqi Media Network) that “the bank had decided the introduction of the quota through interventionist policies, regardless of the Iraqi dinar,” noting that “will give the shares of financial support from the Iraqi currency and as the capital of each bank in accordance with the new system which will support business situation in the country. “
The quota in the trading system means the existence of a specific price ceiling imposed by the government to merchants and shop owners and requiring them to sell goods and materials at the price specified under any circumstances.
The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.