CBI currency means the sale to ensure exchange rate stability window

Views 45 Date 29/08/2016 - 17:32

Economy News / Baghdad Iraqi Central Bank confirmed that the sale of the currency window way to Zman and the stability of the exchange rate, the bank said in a statement received by the "Economy News", a copy of which he Commenting to issued opinions about the work of selling foreign currency window of the Iraqi Central Bank wishes to state that " sell the currency window is the way to ensure the stability of the dinar exchange rate over the meeting of the Iraqi economy requirements by providing foreign currency to cover imports of the private sector goods and services, in addition to the needs of citizens for the purposes of travel, medical treatment, study outside Iraq, despite the absence of any allocations in the budget since the 2003 and so far for this purpose.

The statement continued that However, this bank has worked to develop its procedures in this regard by encouraging banks to adopt the mechanism of opening letters of credit for the purposes of import instead of remittances style, reaching sales ratio manner credits to more than 70% of the foreign currency sales, as well as the Central Bank has set a key benchmark for the implementation of dollar selling operations to banks include the extent of its commitment to the rules of the fight against money laundering and terrorist financing.

The bank stressed that rely settings and applications of the standards system on the window of the sale and purchase of foreign currency (remittance), and a greater role for the government to buy and sell to banks The dollar and the development and verification sources of funds used for the purchase of the dollar from the sale of foreign currency window.

He had confirmed the national coalition led by Iyad Allawi, on Monday (August 22, 2016), that the dollar exchange rate in the domestic market management is a "window of thieves and corrupt", and pointed out that the auction currency place "for wasting money and leaking Iraqi balance across the mafias money laundering", as shown concern about the insistence on continuing to auction currency policy despite the warnings and recommendations of experts, called for the inclusion of the Central Bank reforms approved by the House of Representatives. AJ

Content link