Central Bank criticizes unauthorized statements

Central Bank criticizes unauthorized statements



Management decided the Iraqi Central Bank to open letters of credit on Monday with the agreement of the Rafidain and Rasheed.

The bank said in a statement that “it comes within the orientations to develop a plan for the development of the banking system and increasing sophistication in opening letters of credit.”

The statement added that “the central bank governor Abdul Basit Turki, held a meeting with the general managers of the Rafidain and Rasheed, and in the presence of a number of general managers of the Central Bank.”

On the other hand the bank announced that “unauthorized statements issued during the last few years about his work led to the confusion of the market resulting in losses for investors and businessmen.”

The bank said in a statement on Sunday that “there is no justification for such statements in economic terms.”

He pointed out that “since proceeded on Saturday to conduct the daily auction, after notification of all banks and the Association of Iraqi banks do so.”

The bank said in its statement that it “received all requests submitted to it has been implemented in accordance with the instructions by the relevant committee, and total sales for the day on Saturday 183 000 078 thousand dollars.”