Saleh appearance: the Iraqi Central Bank Law prohibits lending to the government in any form

Saleh appearance: the Iraqi Central Bank Law prohibits lending to the government in any form





September 4, 2015

Baghdad

Economic Adviser to the Prime Minister stressed the appearance of Mohammed Saleh, the Iraqi Central Bank Law prohibits lending to the government in any way, noting that the law put in a time when the legislative authorities feared individually government agencies and financial power in reaction to what it was the situation under the former regime .

Saleh said in a press statement, "that" the law 56 of 2004 prohibits lending to the government, from the reserves of the bank, whether gold or cash reserve ", adding that" this prohibition does not apply to the Iraqi market, as part of the responsibility of the Bank, which takes Upon himself to tackle deflation or other. "

"The Bank manages loans that the government borrowed from external sources as a financial agent to her, and the maintenance of its accounts, without having to stand alone process of lending," explaining that "the issue of legislative subject to the authority of the House of Representatives, especially since most countries in the world allow to borrow from the central bank if Low rates. "

And resorted financial authorities in Iraq in more than once to borrow from external sources, at which time the cash reserves of the Central Bank estimated it with 59 trillion dinars, while the gold reserves of 32 tons


[You must be registered and logged in to see this link.]

Saleh said in a press statement, "that" the law 56 of 2004 prohibits lending to the government, from the reserves of the bank, whether gold or cash reserve ", adding that" this prohibition does not apply to the Iraqi market, as part of the responsibility of the Bank, which takes Upon himself to tackle deflation or other. "