Union of businessmen prefer to keep the Iraqi Central Bank as an independent body linked to the Council of Representatives



09/04/2012 10:14


Gate of Iraq" BAGHDAD - A member of the Union of businessmen willing satisfaction that the survival of the Iraqi Central Bank as an independent body linked to the Council of Representatives of the best linked to the executive branch.And detection of deputies in the parliament of the existence of a book issued by the Secretariat of the Council of Ministers on March 15 addressed to the Governor of Central Bank of Iraq that includes the monetary policy of the government functions exclusively.Reza said on Monday that "the central bank has its own law and independent of the executive branch and a large number of consultants and experts who have knowledge of the development of monetary policy and maintain the rate of inflation."He added that "such a body linked to the task related to the policy of the country would limit the Executive Steering orientation independent to address issues in a flexible and detailed for the problems suffered by the Iraqi economy."He explained that "it is better to keep the Iraqi Central Bank as an autonomous body attached to the Council of Representatives of the best linked to the executive branch," pointing out that "the monetary authority has nothing to do with the executive because Iraq is still under Chapter VII.The dinar, Iraq is witnessing a new low against the U.S. dollar to reach in local markets to 126.5 thousand dinars for each one hundred dollars, which will lead to a loss of citizen confidence in Iraqi dinars, which was on the rise against the dollar over the past years.

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