Economic expert reveals the repercussions of stopping financial transfers to Kurdistan


2017/09/30 12:40


Since 2017-09-30 at 12:01 (Baghdad time)

Special - Mawazine News

Economic expert Salam Samisem said on Saturday that the suspension of remittances to Kurdistan would cause great damage to the region, pointing out that this decision was delayed, which was supposed to be implemented years ago.

"The central bank's decision to stop the remittances to Kurdistan came late and had to be imposed by the government for years," she said. "There is something the media does not know about. The Iraqi banks have branches in the region. Now these branches did not allow the extraction of money from them and therefore we have a liquidity crisis. "

"The entry of a large number of displaced people into the region compounded this crisis because they were not allowed to withdraw their money," said Smisem.

"Some of the money and deposits in the banks of Kurdistan by investors and citizens have not given them the freedom to dispose of their money since 2014, but there was silence from the central bank."

"The central bank is the bank of banks, the guarantor of the money of citizens, and its stigma means either to be responsible for the compensation of these funds or to be promising to act," she said.

"The suspension of remittances to Kurdistan is a sound and expected economic decision in light of the escalation of the referendum on independence, but it will harm the region as a supplier of dollars," he said, adding that he is "the supplier of currency trading."

The Central Bank of Iraq stopped, the system of financial transfers between the provinces controlled by the federal government and the Kurdistan region, in response to the referendum of Kurdistan.

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