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Central Bank: Dealing in the Iraqi dinar will extend to the private sector
Economy 04-18-2023, 21:50
Baghdad - conscious
Today, Tuesday, the Central Bank confirmed that the reform package is a major shift for the organized economy, while noting 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," noting that
"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,
"Companies and government institutions have 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." And he stated,
"Iraq's economic interface is the central bank, which takes corrective steps,
the most important of which is the platform that transformed foreign trade in Iraq into real trade, after the relationship between the dollar that exits the country and the commodities was disconnected between them," pointing out that
"through the platform All these matters have been seized, including the dollar that is sold by the central bank to the bank and then to the public, and the public asks the bank to transfer it to the merchant who exports the commodity to Iraq.
It has been seized and has become clear. He pointed out,
"Iraq and the Central Bank are in compliance with international concerns, including combating money laundering and financing terrorism," explaining that
"we have exited the gray area and turned into a respected compliant country, and
the Central Bank has now become an internationally recognized institution, as compliance is a feature of the ethical and legal features of work.".
https://www.ina.iq/183254--.html
Economy 04-18-2023, 21:50
Baghdad - conscious
Today, Tuesday, the Central Bank confirmed that the reform package is a major shift for the organized economy, while noting 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," noting that
"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,
"Companies and government institutions have 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." And he stated,
"Iraq's economic interface is the central bank, which takes corrective steps,
the most important of which is the platform that transformed foreign trade in Iraq into real trade, after the relationship between the dollar that exits the country and the commodities was disconnected between them," pointing out that
"through the platform All these matters have been seized, including the dollar that is sold by the central bank to the bank and then to the public, and the public asks the bank to transfer it to the merchant who exports the commodity to Iraq.
It has been seized and has become clear. He pointed out,
"Iraq and the Central Bank are in compliance with international concerns, including combating money laundering and financing terrorism," explaining that
"we have exited the gray area and turned into a respected compliant country, and
the Central Bank has now become an internationally recognized institution, as compliance is a feature of the ethical and legal features of work.".
https://www.ina.iq/183254--.html
