Central Bank: Dealing in Iraqi dinars will extend to the private sector
Central Bank: Dealing in Iraqi dinars will extend to the private sector
April 19, 2023 12:36 PM
Mubasher: The Central Bank of Iraq confirmed, yesterday, Tuesday, that the reform package is a major shift for the organized economy, while indicating that dealing in the Iraqi dinar will extend to the private sector.
The bank’s advisor, Ihsan Shamran, told the Iraqi News Agency, “INA”: “The government supported the reform package launched by the Central Bank,” indicating, “There is great harmony between the financial authority and the government.”
He added, “Countries whose legal systems are good have an excellent economy because they do not deal in dollars,” noting that “companies and government institutions responded, including Iraqi Airways, by relying on the strength of the Iraqi dinar, regardless of the exchange rate.”
And he continued, “The public began to deal in the Iraqi dinar as a national currency,” explaining, “This will extend to the private sector, including car showrooms, and at a close stage, the furniture and electrical dealer will not need the dollar.”
And he stated, “This is considered a real step and a big shift for the organized economy,” explaining, “The real value of the dinar that exists now is more than one and a half dinars, because the bank’s reserves are very high and therefore the national currency cover is high.”
mubasher.info
