A proposal to end the Jordan National Bank’s acquisition of the currency window in Iraq!
A proposal to end the Jordan National Bank’s acquisition of the currency window in Iraq!
05-13-2024
Today, Monday, economic expert Duraid Al-Anzi presented a solution to end the Jordan National Bank’s acquisition of the currency selling window, noting that the continuation of the situation as it is poses great financial risks to Iraq.
Al-Enezi stated that the Jordan National Bank has internal and external privileges and extensive relations and correspondents, and took advantage of the weakness of Iraqi banks in this aspect by taking over the largest part of the currency selling window, indicating that the Central Bank is unable to find a solution to this process because of the risks it entails.
Al-Enezi added that these risks are represented in the fact that the transfers that go out from the Central Bank to the Jordanian Bank are unsafe if it is subjected to any external accounting, because Iraq does not have any control over it as a foreign bank.
In the entirety of his speech, Al-Enezi proposed to the Central Bank a solution to this problem by saying that Iraq has 19 banks with a high credit rating and there is no dust on them, and if a coalition occurs between 5 or 6 banks among them, their capabilities will be greater than the Jordan National Bank and they will handle the transfer process and enter the sales window. Currency, indicating that the Central Bank in this case will ensure that Iraq’s money is not risked, as these banks are local and not foreign, as is the case with the Jordan National Bank.
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