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To resolve the issue of banks “deprived of the dollar.” Al-Alaq will return to Washington soon
Economy | Today, 14:00 |
Baghdad today - Baghdad
An official source in the Central Bank of Iraq revealed, today, Sunday (August 25, 2024), the imminent important visit of the bank’s governor, Ali Al-Alaq, to the United States of America to resolve the issue of Iraqi banks deprived of the dollar. The source told “Baghdad Today” that
“during the end of this month there will be an important visit by the Governor of the Central Bank of Iraq, Ali Al-Alaq, to New York City in the United States of America to hold several meetings with the US Federal Reserve and the US Treasury to discuss the file of Iraqi banks that are deprived of dealing in dollars, and the possibility of... This deprivation was lifted, as this had a negative impact on the Iraqi banking and financial situation.” The source, who requested to remain anonymous, said,
“Those Iraqi banks are not being punished, but are only deprived of dealing in dollars, and
Al-Alaq’s visit comes in order to lift that deprivation, as well as discuss protecting the Iraqi banking system and supporting its stability.”
It is noteworthy that the Governor of the Central Bank of Iraq, Ali Al-Alaq, resolved on Wednesday (August 7, 2024) the controversy regarding reconsidering the dollar exchange rates.
Al-Alaq said, in press statements, followed by “Baghdad Today”:
“There is no intention to reconsider the dollar exchange rates,” pointing out,
“The Central Bank sells more than 250 million dollars daily at the official rate.” He noted,
“The bank covers the requirements of foreign trade, and some do not want fundamentalist methods,” noting,
“The view that the price of the dollar has risen or fallen is not a correct indicator.”
He stressed, "The central bank's success in controlling inflation compared to other countries," adding,
"We will reach 100 percent of foreign remittances without going through the US Federal Reserve at the end of this year." He stressed,
"The financial situation in Iraq is still proceeding within what is planned in the state's general budget," noting that
"for the first time, by virtue of the new budget and financial management law, the allocations of governorates and ministries are rotated." Al-Alaq said,
“The Central Bank is undergoing a major transformation process by reorganizing foreign trade, and
our procedures in foreign trade are taking place for the first time with the involvement of international institutions.” He continued,
"There are small traders outside the system that are putting pressure on the market, and
a mechanism to regulate their trade is about to be launched, and
we are focusing on getting everyone involved in sound fundamentalist channels." He revealed,
“The Central Bank has opened channels for the Chinese, Turkish, Indian, and UAE currencies,”
announcing, “The imminent launch of a new audit mechanism for trade via foreign currencies.” He stressed that
“all commercial foreign transfer operations are subject to review by the competent international company,” revealing
“meetings in New York at the end of August to discuss lifting sanctions on banks and reviewing transfer operations.” Al-Alaq explained,
“The dollar is not given to the traveler until after the departure stamp,” noting that
“the new mechanism guarantees the arrival of the dollar 100 percent to the traveler, and
we started with it in Baghdad, then Najaf, Basra, Erbil, Sulaymaniyah, and Kirkuk.” He added,
"There is a government move to increase capital support for the Real Estate Bank and the Housing Fund in the budget," noting,
"The bank's initiatives have an exceptional role in trying to fill the housing deficit." The Governor of the Central Bank announced,
“The capital increase paragraph for the Real Estate Bank and the Housing Fund in the budget has not been implemented yet, and
we do not want the bank’s financing to be a substitute for the investor’s obligations,” noting that
“the Real Estate Bank was directed to finance complexes with completion rates of 80 to 90 percent.”.
https://baghdadtoday.news/256475-لحسم-ملف-المصارف-المحرومة-من-الدولار.-العلاق-الى-واشنطن-قريباً.html
Economy | Today, 14:00 |
Baghdad today - Baghdad
An official source in the Central Bank of Iraq revealed, today, Sunday (August 25, 2024), the imminent important visit of the bank’s governor, Ali Al-Alaq, to the United States of America to resolve the issue of Iraqi banks deprived of the dollar. The source told “Baghdad Today” that
“during the end of this month there will be an important visit by the Governor of the Central Bank of Iraq, Ali Al-Alaq, to New York City in the United States of America to hold several meetings with the US Federal Reserve and the US Treasury to discuss the file of Iraqi banks that are deprived of dealing in dollars, and the possibility of... This deprivation was lifted, as this had a negative impact on the Iraqi banking and financial situation.” The source, who requested to remain anonymous, said,
“Those Iraqi banks are not being punished, but are only deprived of dealing in dollars, and
Al-Alaq’s visit comes in order to lift that deprivation, as well as discuss protecting the Iraqi banking system and supporting its stability.”
It is noteworthy that the Governor of the Central Bank of Iraq, Ali Al-Alaq, resolved on Wednesday (August 7, 2024) the controversy regarding reconsidering the dollar exchange rates.
Al-Alaq said, in press statements, followed by “Baghdad Today”:
“There is no intention to reconsider the dollar exchange rates,” pointing out,
“The Central Bank sells more than 250 million dollars daily at the official rate.” He noted,
“The bank covers the requirements of foreign trade, and some do not want fundamentalist methods,” noting,
“The view that the price of the dollar has risen or fallen is not a correct indicator.”
He stressed, "The central bank's success in controlling inflation compared to other countries," adding,
"We will reach 100 percent of foreign remittances without going through the US Federal Reserve at the end of this year." He stressed,
"The financial situation in Iraq is still proceeding within what is planned in the state's general budget," noting that
"for the first time, by virtue of the new budget and financial management law, the allocations of governorates and ministries are rotated." Al-Alaq said,
“The Central Bank is undergoing a major transformation process by reorganizing foreign trade, and
our procedures in foreign trade are taking place for the first time with the involvement of international institutions.” He continued,
"There are small traders outside the system that are putting pressure on the market, and
a mechanism to regulate their trade is about to be launched, and
we are focusing on getting everyone involved in sound fundamentalist channels." He revealed,
“The Central Bank has opened channels for the Chinese, Turkish, Indian, and UAE currencies,”
announcing, “The imminent launch of a new audit mechanism for trade via foreign currencies.” He stressed that
“all commercial foreign transfer operations are subject to review by the competent international company,” revealing
“meetings in New York at the end of August to discuss lifting sanctions on banks and reviewing transfer operations.” Al-Alaq explained,
“The dollar is not given to the traveler until after the departure stamp,” noting that
“the new mechanism guarantees the arrival of the dollar 100 percent to the traveler, and
we started with it in Baghdad, then Najaf, Basra, Erbil, Sulaymaniyah, and Kirkuk.” He added,
"There is a government move to increase capital support for the Real Estate Bank and the Housing Fund in the budget," noting,
"The bank's initiatives have an exceptional role in trying to fill the housing deficit." The Governor of the Central Bank announced,
“The capital increase paragraph for the Real Estate Bank and the Housing Fund in the budget has not been implemented yet, and
we do not want the bank’s financing to be a substitute for the investor’s obligations,” noting that
“the Real Estate Bank was directed to finance complexes with completion rates of 80 to 90 percent.”.
https://baghdadtoday.news/256475-لحسم-ملف-المصارف-المحرومة-من-الدولار.-العلاق-الى-واشنطن-قريباً.html
