Al Nassiri: UN Security Council commended the Central Bank action to support the implementation of economic and financial reform program.



19/10/2017

Economy news _ Baghdad


He praised the economic and banking Adviser Samir Al Nassiri, Thursday, Central Bank Governor hosting results to improved relations by UN Security Council in a special session to view the Central Bank policies and procedures in support of economic and financial reform programme implementation and support requirements Submitted by the Central Bank to the national economy during the economic and financial crisis and the war on terrorism.

Al Nassiri said in the interview for "economy", "the presence of the Governor on the relationship to the UN Security Council is a unique and historic situation and form a bright spot and creditable success experience in a country undergoing harsh conditions like Iraq where the Bank provided support to the State Treasury limits of 21 trillion dinars, which contributed significantly to the promotion of alsamo D in the face of Iraq's economic economic and financial crisis and contributed to achieve victory over terrorism. "

And Al Nassiri said "efforts and wise monetary policy actions of the Central Bank of Iraq's difficult economic phase where considerable efforts made since 2004 till present time in reducing inflation, controlling a balanced price Iraqi dinar and maintain reasonable standard rate Foreign cash reserve of up to 48 billion dollars, despite the stifling crisis suffered by Iraq because of falling oil prices and the costs of the war on terror, the Central Bank calculated economic and financial procedures able and daring of continued support for two years for the Iraqi economy and contributed Significant contribution in securing staff salaries and retirees and reimburse contractors and farmers besides the initiative to revitalize the economic cycle and to allocate six trillion trillion dinars for financing and operation of small and medium-sized enterprises in the sectors of housing, agriculture, industry and banking support and achieve Economic and social objectives.
He noted that "the other important actions took the Bank to recalculate the legal reserve for banks to provide liquidity to banks and activate the deposit insurance corporation for the purpose of restoring confidence in the banking sector and increase the proportion of cash in banks mass savings on the expense ratio of compactness and, more importantly, in all that.

Transition mechanisms and procedures for working in a Bank of method adopted in the 20th century to the 21st century through structural and technical development and supervisory oversight and the adoption of standard international standards with emphasis on application of rules compliance and combating money laundering and terrorist financing And re-evaluation and classification according to banks that helped to change the classification of Iraq by financial work-up gray. "

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