Al-Sudani issues directives to the Central Bank.. These are its details
Al-Sudani issues directives to the Central Bank.. These are its details
2023-07-24
On Sunday, Prime Minister Mohamed Shia Al-Sudani directed the Central Bank to make greater efforts to simplify procedures for citizens.
Al-Sudani’s office said in a statement, “The Prime Minister met, Sunday, with the Governor of the Central Bank, Ali Mohsen Al-Alaq, in the presence of the advisors and the director general of investment in the bank.”
During the meeting, according to the statement, “the measures taken by the Central Bank with regard to the stability of the currency in the Iraqi market were discussed, and the most prominent plans prepared to reform, develop and enable the banking sector to take its role in achieving sustainable development and facing challenges.”
According to the statement, Al-Sudani listened to “clarifications on the most important facilities provided by the Central Bank, which include allowing small merchants and importing individuals to finance their imports without the need to establish a company, and that this be through government and private banks that have direct relations with correspondent banks.”
The Prime Minister directed the Central Bank to “make greater efforts to simplify procedures for citizens,” as it was “emphasized to implement the content of the Council of Ministers’ decision regarding the payment of installments for investment projects by allowing citizens to pay in Iraqi dinars for the values of housing units that they previously purchased in foreign currency.”
Al-Sudani also directed “the implementation of Article 48 of the Federal General Budget Law, to unify and simplify tax procedures on the one hand, and not link them to external transfers on the other hand.”
The meeting witnessed “emphasis on proceeding with the measures that the Central Bank will take, regarding compensating citizens and companies who buy dollars at the unofficial rate, through the Central Bank deducting the financial difference from banks and exchange companies that sold dollars at more than the price specified in the bank, after the purchase from those companies is proven.”
During the meeting, the governor of the Central Bank revealed, “The bank’s intention to resume selling cash dollars through licensed banks in Nineveh Governorate.”
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