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Central Bank closes sales for the liquidation of accounts in 2011
02/01/2012 15:19
Baghdad, January 2 (Rn) - The Central Bank of Iraq on Monday that he closed his sales to liquidate the accounts of the 2011 final.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) "did not open today, the Iraqi Central Bank foreign exchange market to settle accounts in 2011 and get ready to open shops in 2012."
He added that "these technical measures do not affect the trading price of the dollar in the markets," noting that "there will be a final settlement of accounts for the year 2011 by a committee of experts and laws."
Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country."
Iraq is recovering after years of war, sanctions and the oil still dominates the economy, accounting for 95 percent of government revenue.
Investors complain that the economy of Iraq, which is still subject to a high degree of central planning suffers from administrative and procedural complexities that most transactions are in cash.
The Central Bank of Iraq has begun to discuss amending the categories of the dinar last year by deleting three zeros from the currency in order to facilitate financial transactions. And still a large part of the payments being in cash due to the evolution of the banking system.
The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector
From: Jafar Allonan. Open: Abdullah Sabri
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02/01/2012 15:19
Baghdad, January 2 (Rn) - The Central Bank of Iraq on Monday that he closed his sales to liquidate the accounts of the 2011 final.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) "did not open today, the Iraqi Central Bank foreign exchange market to settle accounts in 2011 and get ready to open shops in 2012."
He added that "these technical measures do not affect the trading price of the dollar in the markets," noting that "there will be a final settlement of accounts for the year 2011 by a committee of experts and laws."
Saleh continued by saying that "the Iraqi Central Bank to take important steps towards strengthening the market currency in the country."
Iraq is recovering after years of war, sanctions and the oil still dominates the economy, accounting for 95 percent of government revenue.
Investors complain that the economy of Iraq, which is still subject to a high degree of central planning suffers from administrative and procedural complexities that most transactions are in cash.
The Central Bank of Iraq has begun to discuss amending the categories of the dinar last year by deleting three zeros from the currency in order to facilitate financial transactions. And still a large part of the payments being in cash due to the evolution of the banking system.
The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector
From: Jafar Allonan. Open: Abdullah Sabri
[You must be registered and logged in to see this link.]
