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House of Representatives ** Finance Committee expresses concern about the rise of the dinar exchange rate against the US dollar
June 18, 2015
Finance Committee in the House of Representatives expresses its concern about the rise of the Iraqi dinar exchange rate against the US dollar, which affects the purchasing power of citizens, especially with the proximity of the holy month of Ramadan.
The House of Representatives has approved the article (50) in the budget related to auction foreign currency and its effects on the Iraqi dinar exchange rate against the US dollar bill includes urged the central bank to use banking tools to keep the exchange rate, but the central bank objected before the Federal Court on this article court did not decide Federal done so far.
It was ordered to wait in the implementation of this and the central bank refrained from implementation and it is contrary to the Constitution because the laws are enforceable after publication in the Official Gazette.
The Central Bank has to sell large amounts of the dollar during this period where that on 31.05.2015 sold more than $ 393 million to banks and banking companies continued to sell large quantities did not adhere to the extent that it legitimized the House of Representatives under the budget law as the Finance Committee sought to remedy the depletion of hard currency and tackle corruption and the protection of the Iraqi economy, however, the dollar exchange rate continued to rise note that the Iraqi state has a hard currency enough to buy everything that exists in the market prices prevailing Aldenarabraghi with the survival of billions of dollars in Iraq's possession.
The Finance Committee has revealed organized groups you are buying the dollar under false pretenses as something to offer information from the Central Bank for the purchase entirely different from the beneficiary of the transfer the money from the banks before you buy.
And become these groups control the dollar prices in collaboration with some corrupt in the central bank and other authorities in the state.
Finance Committee has taken action in this regard and held a series of meetings with stakeholders and were on the track wrote to the Central Bank and Ministry of Finance and the Office of Financial Supervision and the Supreme Judicial Council and to state banks.
This crisis calls work differently from the previous contexts surprises to deal with this rise in exchange rates, therefore the Finance Committee decided to hold an extraordinary meeting of an emergency during the legislative recess and invite each of the Governor of the Central Bank and the Financial Inspection Office and the Association of banks to this meeting On Sunday, 06/21/2015 .
Finance Committee
06/18/2015
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June 18, 2015
Finance Committee in the House of Representatives expresses its concern about the rise of the Iraqi dinar exchange rate against the US dollar, which affects the purchasing power of citizens, especially with the proximity of the holy month of Ramadan.
The House of Representatives has approved the article (50) in the budget related to auction foreign currency and its effects on the Iraqi dinar exchange rate against the US dollar bill includes urged the central bank to use banking tools to keep the exchange rate, but the central bank objected before the Federal Court on this article court did not decide Federal done so far.
It was ordered to wait in the implementation of this and the central bank refrained from implementation and it is contrary to the Constitution because the laws are enforceable after publication in the Official Gazette.
The Central Bank has to sell large amounts of the dollar during this period where that on 31.05.2015 sold more than $ 393 million to banks and banking companies continued to sell large quantities did not adhere to the extent that it legitimized the House of Representatives under the budget law as the Finance Committee sought to remedy the depletion of hard currency and tackle corruption and the protection of the Iraqi economy, however, the dollar exchange rate continued to rise note that the Iraqi state has a hard currency enough to buy everything that exists in the market prices prevailing Aldenarabraghi with the survival of billions of dollars in Iraq's possession.
The Finance Committee has revealed organized groups you are buying the dollar under false pretenses as something to offer information from the Central Bank for the purchase entirely different from the beneficiary of the transfer the money from the banks before you buy.
And become these groups control the dollar prices in collaboration with some corrupt in the central bank and other authorities in the state.
Finance Committee has taken action in this regard and held a series of meetings with stakeholders and were on the track wrote to the Central Bank and Ministry of Finance and the Office of Financial Supervision and the Supreme Judicial Council and to state banks.
This crisis calls work differently from the previous contexts surprises to deal with this rise in exchange rates, therefore the Finance Committee decided to hold an extraordinary meeting of an emergency during the legislative recess and invite each of the Governor of the Central Bank and the Financial Inspection Office and the Association of banks to this meeting On Sunday, 06/21/2015 .
Finance Committee
06/18/2015
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