CBI: There is no economic philosophy in Iraq; Urges government to choose to between market or central economy

CBI calls for a return to the central government if you do not accommodate a market economy

Called on the Iraqi Central Bank, on Thursday, the Iraqi government to return to the central system in the absence of absorption potential in the market economy, pointing out that he was able to finance the trade of the Iraqi private sector over the past years.

The deputy governor of the Central Bank of the appearance of Mohammed in a press statement, “that” there is no political or economic Iraqis can know the philosophy of the Iraqi economy in terms of the system that is adopted, decentralized or free, “and urged the government to “return to the central system in the absence of absorption philosophy of a free economy. “

Saleh added that “the state must choose between returning to the central system for foreign trade financing to the private sector, through the federal budget by government banks with something of economic freedom, or faith Ballbralah Economic brought by the Bank Act and after the 2 003 law of banks and companies and the freedom of foreign exchange “.

Saleh pointed out that “the Bank was able to trade finance for the private sector by the Iraqi auction conducted by the Bank successfully every day,” and wondered about “the ability of the Iraqi budget, which increased to 2,012 from four hundred and seventy billion dollars for the conduct of any economic development. “

He accused a member of the Finance Committee in the House of Representatives on Wednesday, Haitham al-Jubouri (8 Tmosalhala), influential political figures in the central Bank of smuggling $ 10 million a day to finance terrorism, noting that about 220 billion smuggled out of Iraq since 2 003.

The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks, except for public holidays on which depends the World Bank for these auctions, and sales are either cash, or in the form of money orders sold out for a commission of certain.

It is noteworthy that Iraq has seven banks owned by the state and private twenty-three banks, eight Islamic banks in particular , according to the site’s central bank, while dominated by the banking sector, banks, Rafidain and Rasheed Aovernmaan, and are under way to restructure in order to pay off the debts that have accumulated after years of war and sanctions.