Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector
Its inability was exposed.. The Central Bank’s procedures confuse the Iraqi monetary sector
9-22-2023
Today, Friday, the economic expert, Ziad Al-Hashimi, detailed the challenges facing the Iraqi monetary and banking sector, pointing out that the Central Bank’s pressure measures on all banking companies without separating between the compliant and the defaulting ones, leads to real confusion in a monetary work environment that is not managed and monitored accurately and clearly. By the central bank.
Al-Hashemi told “ Jarida ”, “One of the fundamental challenges facing the Iraqi monetary and banking sector is the inability of the Central Bank and local banks to create an effective and attractive banking environment with services with competitive costs that are suitable for citizens to trust, and are able to provide flexible and smooth banking services, and encourage… Citizens need to deal with banks instead of resorting to exchange companies to obtain the cash services they are looking for.”
He continued, “In addition to the Central Bank’s inability, so far, to adopt precise and specific standards and applications to evaluate the work and performance of exchange companies and separate between compliant companies and negligent companies.”
The economic expert explained, “This is what led to the Central Bank applying its pressure measures on all banking companies, causing harm and restrictions on companies that adhere to central controls and have an advanced level of compliance.”
Al-Hashimi stated, “This is what leads to real confusion and creates a state of uncertainty in a monetary business environment that is not managed and monitored accurately and clearly by the Central Bank.”
jaredaiq.net
