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Financial: dinar improvement after Iraq emerge from Chapter 7
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Experts Afif
05/07/2013
Banks began international circulation of Iraqi currency in the first signs of the withdrawal of Iraq from Chapter VII, in conjunction with the announcement of the Iraqi Central Bank high volume of reserves of Iraq from foreign currency to $ 76 billion in addition to the 30 tons of gold bullion.
says advisor to the Ministry of Finance Hilal Taan that "This reserve will help to raise the value of the Iraqi currency compared to foreign currencies and thus will contribute to reduce the prices of goods and commodities."
and supports the currency reserves of the Central Bank of the Iraqi currency inside and outside Iraq, and that the increase in oil imports may directly contribute to increase the reserve and thus give more support of the Iraqi currency.
says economic expert Majid picture that "investing the surplus reserve as if he found must harnesses according to the policy of economic thought" and called on the House of Representatives to enact economic and development that will provide greater support for the Iraqi currency.
For his part, criticized a member of the Finance Committee parliamentary Ahmed electrodes laws and banking systems followed in Iraq, uncertain that the House of Representatives is determined to enact laws regulating the banking business in the future.
central bank had said earlier that Iraq is in control of his money and treasury of gold in the international banks also drew the bank to be out of Iraq from Chapter VII will give him freedom the largest to act and attract foreign investment.
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