International institutions and experts express their support for the mechanisms of the Central Bank in the sale and purchase of currency

Views Date 02/06/2017 - 19:48

Economy News _ Baghdad:

Several parties in international institutions and Iraqi economic experts expressed their interest and support for the adoption by the Central Bank of Iraq mechanisms and controls for the sale and purchase of foreign currency.

These authorities considered that the recent instructions of the Central Bank included passing standards of personal governance and were based on scientific foundations distinguishing between banks in accordance with their performance and their commitment to the bases of compliance, foremost of which is combating money laundering and financing of terrorism, providing liquidity and contributing to development.

They expected compliance controls to contribute to raising the performance of banks as they would enhance competitiveness among banks at levels of compliance with their compliance concepts and controls.

A large delegation from the Central Bank of Iraq and other Iraqi institutions participate in meetings with experts of the International Monetary Fund to review the credit readiness agreement and the bank is making progress in meeting the requirements of that agreement, including the formulation of instructions ideal to sell the dollar.

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