Al-Kazemi: The important factor for the decline in the dollar exchange rate is the simplification of the Central Bank’s procedures
Al-Kazemi: The important factor for the decline in the dollar exchange rate is the simplification of the Central Bank’s procedures
23/08/2023
Today, Wednesday, the Parliamentary Finance Committee pointed out that a number of measures must be taken in order to reduce the exchange rate of the dollar, whether they are technical or related to the central bank and its procedures, while the central bank prevented the collection of any additional commissions when selling cash dollars to a traveling citizen.
Committee member Moein Al-Kazemi stated, in an interview with the government newspaper, “Al-Sabah”, that “the important factor for the decline in the dollar exchange rate is the simplification of the Central Bank’s procedures for merchants to urge them to resort to the currency window and not go to the parallel market that caused the exchange rate to rise, as well as simplifying procedures.” Granting sums to Iraqi travelers instead of the current method.
Al-Kadhimi added, “Another problem must be discussed with the US Federal Reserve regarding the countries from which the Iraqi merchant imports and does not grant a transfer to them, given that there is a national interest for the Iraqi people with this import.”
And on some technical matters, Al-Kazemi called for “considering simplifying the issue of the tax that can be deducted in the central bank instead of reviewing the tax departments and entering into a complex routine,” stressing that “all these matters must be followed up by consulting the private sector, which is basically The root of the problem in order to obtain positive results.
In this regard, the Central Bank, yesterday, Tuesday, prevented the collection of any additional commissions when selling cash dollars to a traveling citizen.
According to a document issued by the bank, which was seen by NRT Arabia, that “based on the decision of the bank’s board of directors, it was decided that the sale of cash dollars allocated for travel purposes to banks and exchange companies and to mediate the sale and purchase of foreign currencies will be at a price of (1305) dinars for each dollar purchased from this bank.” , provided that “the selling price of the dollar to the traveling citizen does not exceed (1320) dinars per dollar.” Confirming, “It is forbidden to collect any additional commissions when selling cash dollars to a traveling citizen as long as the dollar is purchased from this bank and according to the relevant instructions and controls.”
nrttv.com
