Governor of the Central Iraqi Dinar Flooding difficult to apply

Alalak comments on the sidelines of the third conference of the Iraqi Center
24 December 2017 04:12 PM

Direct : The governor of the Central Bank of Iraq that the flotation of the Iraqi dinar difficult to apply as a monopoly of the government to offer the dollar and foreign currency in the country.

Ali al-Alak said in an interview with the newspaper "Arab African" Iraqi, that the oil states rely on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating the currency, which is not happening, whether in Iraq or other oil countries.

Al-Alak pointed out that the decision of the Egyptian Central Bank to float the pound, in November 2016, is a correct step , but it came too late.

The Central Bank of Iraq took a series of measures to achieve financial and economic stability in the country, including the removal of the financial sector from risks and prevention; issuing the law on combating money laundering and financing terrorism in 2015.

It has also completed the strengthening of prudential supervision and the strengthening of payment systems and electronic payment systems for clearing and settlement operations in order to regulate, control and control banking operations.

The Governor of the Iraqi Bank, Baghdad's efforts to achieve the concept of "financial inclusion" and its applications, after the instability of security and financial in previous years without implementation.

He said that the short-term plan aims to deposit salaries of all state employees in banks, which strengthens the base of customers with more than 3 million people.

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