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Economist: You must diversify sources of national income to maintain the dinar exchange rate
By Rudao 2 hours ago
General Manager of Al-Nahrain Islamic Bank and Economic Expert, Abdul Hussain Al-Mundhari
Ruudao, Baghdad
The Director General of the Islamic Bank of Nahrain and economic expert, Abdul Hussain Al-Mundhari, that Iraq is required to maintain the dinar exchange rate by relying on diversifying sources of national income.
"Dependence on oil as a sole source of national income will be an obstacle to the advancement of Iraq's economy," al-Manathari told the Rwandan media network. Pointing out that dependence on oil will not serve Iraq at the present time because of the many crises in the region, and the possibility of war in the Gulf region will pose a major challenge to Iraq in how to export oil to the world.
He also pointed out that the Iraqi government to follow modern mechanisms to diversify sources of national income to maintain the dinar exchange rate. Pointing out that the adoption of the Iraqi economy on the export of oil only is a challenge to maintain the exchange rate of the dinar because the cash reserve of the US dollar down continuously taking into account Iraq's revenues and the expenses are very large, especially the military ones.
Al-Mundhari stressed that the CBI should find more than one outlet to enhance the value of the US dollar in the Iraqi market through its deposits in banks.
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By Rudao 2 hours ago
General Manager of Al-Nahrain Islamic Bank and Economic Expert, Abdul Hussain Al-Mundhari
Ruudao, Baghdad
The Director General of the Islamic Bank of Nahrain and economic expert, Abdul Hussain Al-Mundhari, that Iraq is required to maintain the dinar exchange rate by relying on diversifying sources of national income.
"Dependence on oil as a sole source of national income will be an obstacle to the advancement of Iraq's economy," al-Manathari told the Rwandan media network. Pointing out that dependence on oil will not serve Iraq at the present time because of the many crises in the region, and the possibility of war in the Gulf region will pose a major challenge to Iraq in how to export oil to the world.
He also pointed out that the Iraqi government to follow modern mechanisms to diversify sources of national income to maintain the dinar exchange rate. Pointing out that the adoption of the Iraqi economy on the export of oil only is a challenge to maintain the exchange rate of the dinar because the cash reserve of the US dollar down continuously taking into account Iraq's revenues and the expenses are very large, especially the military ones.
Al-Mundhari stressed that the CBI should find more than one outlet to enhance the value of the US dollar in the Iraqi market through its deposits in banks.
[You must be registered and logged in to see this link.]
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