The Central Bank is taking action against speculators in exchange rate issues
The Central Bank is taking action against speculators in exchange rate issues
2023-05-12 | 10:39
Today, Friday, the Central Bank of Iraq announced that it would take strict action against speculators in exchange rate issues.
A bank statement received by Alsumaria News stated, “In response to citizens’ requests for the US dollar currency at the official exchange rate for legitimate purposes, the Central Bank of Iraq succeeded in providing easy and appropriate tools represented in the facilities packages that it issued, which include support for the settlement of electronic cards at the official price and money transfers of various kinds.” However, some of those who were able to obtain the cards misused them far from the intended goals for this purpose, and this was revealed by the reports of the competent security authorities and the supervisory procedures of the Central Bank and the Office of Combating Money Laundering and Terrorist Financing,” referring to “the development of a strict new electronic system that ends this phenomenon and violations.” used on these cards.
The Central Bank of Iraq revealed, according to the statement, “the completion of legal procedures against the violators, individuals, companies and banks, announcing their referral to the courts specialized in money laundering and financing terrorism,” stressing “its keen desire to provide all appropriate tools to achieve stability in the exchange rate, especially with the arrival of external transfers.” through the electronic platform to a higher level.
He pointed out, “The use of electronic cards and the cash sale of the dollar, all of this made the so-called “exchange rate in the parallel market” not reflect the real exchange rate as long as the Central Bank of Iraq responds to all (legitimate requests) to buy the dollar.”
He added, “The price in the parallel market is linked to speculative activity, and non-fundamentalist operations trying to get away from the methods provided by the Central Bank of Iraq law and its decisions.”
alsumaria.tv
