There are no economic sense to enter the central bank to buy the currency market
A member of the parliamentary Economy: There are no economic sense to enter the central bank to buy the currency market
Friday, February 8, 2014 08:34
[Baghdad where]
Criticized member of the Committee on Economy and Investment parliamentary MP Aziz Shareef al-Mayahi, Saturday, the CBI’s decision not to allow banks to enter the market to buy the currency, but the condition put their money in the bank full, urging him not to convert to banks banking offices.
He Mayahi in a statement received by all of Iraq [where] a copy of it today, “The central bank’s decision after allowing banks to enter the market to buy the currency, but the condition put their money in full Bank decision is surprising and Anjad in which any economic feasibility could be of benefit in the short or run. ”
“The banks are the investor an important and vital role in Iraq and the lies they have a responsibility in supporting development projects by moving the capital in the domestic market, which gives more incentive for investors to competition and the development of style, including raising the efficiency of the market and investment alike.”
“The handcuff banks such restrictions and prevent them from moving their money in the market and freeze in the coffers of the Central Bank rather than Bank support to those banks with cash to stimulate their work is something strange and Anjad where any benefit to the economy and will shed Bdilalha negative impact on the overall situation and make those banks like the offices of banking work is the only Currency Converter no more. ”
He called Mayahi the central bank to “reconsider this decision and to allow banks to retain a significant portion of their money in the market because we desperately need in this period to any working capital in the internal market to serve the economy and the wheel of development in the new Iraq.”
The Central Bank of Iraq was established as a bank independent under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions daily for buying and selling currencies except Friday. Ended
alliraqnews.com
