A specialist comments on the raid on the Baghdad stock exchanges: targeting them
A specialist comments on the raid on the Baghdad stock exchanges: targeting them
2023-01-21 01:50
Shafaq News/ Nabil Jabbar Al-Tamimi, a specialist in financial and economic affairs, commented today, Saturday, on the raid of the central Al-Kifah and Al-Harithiya stock exchanges in the center of the capital, Baghdad, by the Economic Security and the arrest of a group of owners of dollar exchange offices.
Al-Tamimi told Shafaq News agency, “The security or police treatment of the Al-Kifah and Al-Harithiya stock exchanges is related to the activity of exchange offices in making illegal transfers (black transfers)”, noting that “these transfers are the contributors to the process of increasing the exchange rate of the dollar against the Iraqi dinar in the market the local”.
And he indicated that “controlling and reducing black remittances will contribute to reducing the exchange rate of the dollar against the Iraqi dinar in the local market, and this is the reason for the raid on the Al-Kifah and Al-Harithiya stock exchanges by the Economic Security.”
The specialist in financial and economic affairs added that “black transfers go outside the banking system, to neighboring countries, and there is interference in the banking system.”
This morning, a force from the Economic Security raided the central Al-Kifah and Al-Harithiya stock exchanges in central Baghdad, and arrested a group of owners of dollar exchange offices “for monopolizing currency exchange,” according to what a security source told Shafaq News agency.
The Iraqi markets are witnessing a continuous rise in the prices of foodstuffs and construction commodities as a result of the continued rise in the exchange rate of the Iraqi dinar against the US dollar, which today exceeded 165,000 dinars for every 100 dollars.
shafaq.com
