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Al-Nazaha hints at the “dominance” of foreign banks over the currency selling window and is moving to limit their powers
Politics Central Bank of Iraq Dollar selling window Parliamentary Integrity Committee
2024-10-24 04:30
Shafaq News/ Member of the Parliamentary Integrity Committee, Vian Dakhil, hinted, on Thursday, at the “dominance” of foreign bank branches over the foreign currency buying and selling window in the Central Bank of Iraq. Dakhil told Shafaq News Agency,
“The committee is currently examining the issue of financial and monetary policy in the Central Bank, especially after information indicating the dominance of some foreign bank branches and Iraqi banks over the Iraqi money market and the window for buying and selling foreign currency.” She explained that
"the Parliamentary Integrity Committee is working to legislate a law that limits the authority of foreign banks and their branches and Iraqi banks that have foreign capital," indicating that
"this limits the enormous profits that these banks obtain from Iraq." Dakhil pointed out that
"there are some foreign banks and foreign capital that seize money transfers in Iraq, and
unfortunately all Iraqi money goes to another country."
Iraqi experts warn of "currency leakage" outside Iraq due to "corruption" in the country's currency auction.
The Central Bank administration plans to cancel the dollar auction gradually, until canceling it completely.
https://shafaq.com/ar/سیاسة/النزاهة-تلمح-لـ-هيمنة-مصارف-جنبية-على-نافذة-بيع-العملة-وتتحرك-للحد-من-صلاحياتها
Politics Central Bank of Iraq Dollar selling window Parliamentary Integrity Committee
2024-10-24 04:30
Shafaq News/ Member of the Parliamentary Integrity Committee, Vian Dakhil, hinted, on Thursday, at the “dominance” of foreign bank branches over the foreign currency buying and selling window in the Central Bank of Iraq. Dakhil told Shafaq News Agency,
“The committee is currently examining the issue of financial and monetary policy in the Central Bank, especially after information indicating the dominance of some foreign bank branches and Iraqi banks over the Iraqi money market and the window for buying and selling foreign currency.” She explained that
"the Parliamentary Integrity Committee is working to legislate a law that limits the authority of foreign banks and their branches and Iraqi banks that have foreign capital," indicating that
"this limits the enormous profits that these banks obtain from Iraq." Dakhil pointed out that
"there are some foreign banks and foreign capital that seize money transfers in Iraq, and
unfortunately all Iraqi money goes to another country."
Iraqi experts warn of "currency leakage" outside Iraq due to "corruption" in the country's currency auction.
The Central Bank administration plans to cancel the dollar auction gradually, until canceling it completely.
https://shafaq.com/ar/سیاسة/النزاهة-تلمح-لـ-هيمنة-مصارف-جنبية-على-نافذة-بيع-العملة-وتتحرك-للحد-من-صلاحياتها
