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Central bank: we support the national economy to stabilize the market
12.12.2012 12:00 AM
BAGHDAD - morning, the
central bank announced Tuesday, allowing Iraqi banks to open documentary Alaatmadt, decided to increase the share of the weekly auction and given to the exchange companies and money transfer, as well as adopted a resolution authorizing the Governor of the Bank to reduce the sale price of the dollar according to the requirements of the market.
confirmed in a statement received by Bank (Sabah) a copy of the need to focus on the development of tools in monetary policy and support national economy, the stability of the market, taking a number of decisions he said include encouraging a number of Iraqi banks, including (Baghdad, credit, Mansour) in the first phase and include later all banks licensed to open letters of credit and funded by the Central Bank of Iraq according to a mechanism designed for this purpose in addition to the continuation of these banks in the entry window sale of foreign currency, and hinted statement that Central decided to increase share weekly auction and donated to the exchange companies and money transfer. Explaining that the mechanism will be through the granting of 100 thousand dollars to exchange companies who increased their capital and according to the requirements of the Central Bank of Iraq for "five hundred million dinars." And 150 thousand dollars for money transfer companies who increased their capital before the date required by the Central Bank of Iraq for "Fifteen billion dinars." And 125 thousand dollars for money transfer companies who increased their capital for ten billion dinars "The statement to authorize the Governor of the Central Bank of Iraq the power to reduce the sale price of the dollar and of 1179 dinars to the dollar to enhance the value of the Iraqi dinar and the requirements of the market.
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