The central bank plans to enact legislation to protect the decision-makers of the accusations
2015-11-29 17:37:29

| (Voice of Iraq) - Baghdad

Central Bank of Iraq, said Sunday, on his quest to enact legislation to protect the decision-makers of the accusations, stressing continuity in the working mechanisms to ensure exchange rate stability in the markets.

The governor of the bank on the Keywords in a statement on the sidelines of a meeting with a large number of academics and relevant experts on international reserves and window sale of foreign currency at the central bank, said the meeting "The meeting came to face the random and the accusations made against the work of the Central Bank by some of the non-professionals questioned campaigns and which found its way into the media and involved a great deal of inaccuracies and misunderstandings, and may entail negative effects on the stability of the market and investor expectations, which could be extended to damage to the financial and banking transactions at home and abroad. "

He Keywords that "the meeting took a series of recommendations, including work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank of the charges and conjectures that are harmful to their reputation and the reputation of their institution ancient and issued by some parties, either because of ignorance or politically motivated and self-interest, and give them legal immunity enjoyed by their counterparts in the world's central banks. "

He Keywords that "the recommendations approved the continuation of the central bank in its direction and working mechanisms to ensure exchange rate stability, and to prevent speculation, and the removal of the big differences from the official price, and the adoption of full transparency in sales by selling the currency window", adding that "Among other recommendations adoption of the study submitted by the governor, as a general framework for the work of the Central Bank and the options available to him, and distributed to professionals and the media in order to shed light on the facts, and dispel the image blur on the work of the Central Bank mechanisms ".

He criticized a number of specialists fiscal policy and mechanisms of action of the Central Bank on dollar selling window and issued to the category of the 50 000 dinars at a time when Iraq is suffering from inflation and a cluster of large cash in circulation in the market.

The Governor of the Central Bank on the Keywords announced in the third from last March that "the new regulations set by the Bank is that the auction is no longer a daily window of operations for the sale of currency auctions," adding that "new mechanisms developed to sell this currency, especially that of its functions to provide currency for trade Foreign ".