Within two days.. The Central Bank is preparing to issue 4 new measures to reduce the exchange rate of the dollar
Within two days.. The Central Bank is preparing to issue 4 new measures to reduce the exchange rate of the dollar
2023-02-02
Yes Iraq: Baghdad
Today, Thursday, the Parliamentary Finance Committee revealed 4 new measures that the Central Bank of Iraq will take to control exchange rate fluctuations, represented by increasing the number of dollar sales outlets, facilitating procedures for granting bank licenses, opening direct agencies for merchants and controlling border crossings.
A member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said, “The central bank must meet the requirements of the US Federal Bank to prevent or reduce pressure on the bills sent to it, to limit the scarcity of hard currency in the country.”
And he stressed, “the need to find real solutions to the mechanism for granting banking licenses, and to give confidence to merchants that they deal directly with the Central Bank without mediation, in order to control the economic reality and the movement of the dollar within the country.”
Al-Karawi called on the government to “work to resolve the issue of fluctuating exchange rates in the markets, and to remove the Federal Bank from controlling the Iraqi economy,” explaining that “previous Iraqi governments did not develop a government strategy and program to manage the exchange rate file and the window for selling the currency.”
And he pointed out, “The Finance Committee met with the Governor of the Central Bank of Iraq, and the proposals that will be put forward to reduce economic pressure on the citizen were listened to,” noting that “the bank will issue, during the next two days, new instructions with the aim of finding quick solutions for the citizen by increasing the number of outlets, And facilitating procedures for granting banking licenses, opening direct agencies for merchants who import materials from abroad, and controlling border crossings to know the true volume of the country’s imports.
He continued, “These measures must be taken quickly at the internal level, while the external level will become clear after the visit of the Iraqi delegation to negotiate with the American side on the 10th of this February.”
yesiraq.com
