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Why doesn't Iraq rely on the World Bank to overcome the "dollar crisis"? An expert answers
Economy | Today, 10:01 |
Baghdad Today - Baghdad
Today, Friday (August 30, 2024), the expert in economic and financial affairs, Nabil Jabbar Al-Tamimi, commented on the possibility of the World Bank helping Iraq in developing its economic and financial situation and resolving the remittance crisis. Al-Tamimi said in an interview with "Baghdad Today",
"The World Bank is an international financial and banking institution affiliated with the United Nations, but
it is subject to special management related to the influence of some countries according to their banking contribution, as
its tasks are limited to
investment financing for countries,
providing international loans, and
project management
in accordance with its international banking conditions."". He stated that
"Iraq is currently working extensively with one of the institutions of the World Bank and the International Finance Corporation (IFC) to develop a group of sectors, including the transportation and airports sector," explaining that
"the World Bank as an important international and financial institution and an international institution at the same time works with Iraq and with other countries in the fields of
Lending and the field of providing
technical consultations, as well as providing Iraq with
economic data and
analyzes within the limits of its work.” The expert in economic and financial affairs stressed that
"it is not within the scope of the World Bank to intervene in the issues facing Iraq, especially with regard to the remittance crisis, local banking failures, or weak procedures to protect funds from suspicions of money laundering and terrorist financing."
According to specialists, Iraq has more than (70) banks, approximately five of which are government and the remaining number are private banks,
but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of private Iraqi banks to arrange their legal and technical conditions. In the case of financial correspondence.
Earlier, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that the Iraqi Jordanian National Bank obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars.
https://baghdadtoday.news/256804-لماذا-لا-يعتمد-العراق-على-البنك-الدولي-لتجاوز-ازمة-الدولار؟.-مختص-يجيب.html
Economy | Today, 10:01 |
Baghdad Today - Baghdad
Today, Friday (August 30, 2024), the expert in economic and financial affairs, Nabil Jabbar Al-Tamimi, commented on the possibility of the World Bank helping Iraq in developing its economic and financial situation and resolving the remittance crisis. Al-Tamimi said in an interview with "Baghdad Today",
"The World Bank is an international financial and banking institution affiliated with the United Nations, but
it is subject to special management related to the influence of some countries according to their banking contribution, as
its tasks are limited to
investment financing for countries,
providing international loans, and
project management
in accordance with its international banking conditions."". He stated that
"Iraq is currently working extensively with one of the institutions of the World Bank and the International Finance Corporation (IFC) to develop a group of sectors, including the transportation and airports sector," explaining that
"the World Bank as an important international and financial institution and an international institution at the same time works with Iraq and with other countries in the fields of
Lending and the field of providing
technical consultations, as well as providing Iraq with
economic data and
analyzes within the limits of its work.” The expert in economic and financial affairs stressed that
"it is not within the scope of the World Bank to intervene in the issues facing Iraq, especially with regard to the remittance crisis, local banking failures, or weak procedures to protect funds from suspicions of money laundering and terrorist financing."
According to specialists, Iraq has more than (70) banks, approximately five of which are government and the remaining number are private banks,
but Iraq relies heavily on financial transfers, especially with regard to the dollar, to various foreign banks, due to the failure of private Iraqi banks to arrange their legal and technical conditions. In the case of financial correspondence.
Earlier, a member of the Parliamentary Integrity Committee, Alia Nassif, revealed that the Iraqi Jordanian National Bank obtained $3.6 billion from the currency auction during the first three months of the current year, which enabled it to obtain a profit of about 40 billion dinars.
https://baghdadtoday.news/256804-لماذا-لا-يعتمد-العراق-على-البنك-الدولي-لتجاوز-ازمة-الدولار؟.-مختص-يجيب.html
