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Economist: The Swift platform came in favor of Iraq. How?
2023/02/01
Economist, Rashid Al-Saadi, believes that the dollar sale platform "SWIFT" came in favor of Iraq and will reflect positively on the strength of the economy and traders.
Al-Saadi said {for Al-Furat News} that: "The measures taken by the government in the distribution of food basket items, as well as the inclusion of 7 million people in the social welfare network, as well as the measures of the Central Bank regarding the conversion of currency to travelers at the rate of $ 5,000 per traveler."
"In addition to medical trips, if this situation stabilizes, it will certainly affect exchange rates and the dollar."
Al-Saadi explained that "the platform for selling the dollar came in favor of Iraq, as the allocation of a window for traders reflects on the strength of the economy and traders because it will sort the right trader from the fake."
He pointed out, "The real trader will open a bank credit and will import good goods instead of bad goods," adding that "during the opening of the credit, the quality and specification of the goods will be adhered to."
Al-Saadi pointed out that "in the event of any dispute, there are parties that will govern these differences between the beneficiary bank and the sending bank, with the knowledge of the US Federal Reserve and the Central Bank of Iraq, and all parties intervene through SWIFT, which includes 11 thousand banks."
"In addition to medical trips, if this situation stabilizes, it will certainly affect exchange rates and the dollar."
Al-Saadi explained that "the platform for selling the dollar came in favor of Iraq, as the allocation of a window for traders reflects on the strength of the economy and traders because it will sort the right trader from the fake."
He pointed out, "The real trader will open a bank credit and will import good goods instead of bad goods," adding that "during the opening of the credit, the quality and specification of the goods will be adhered to."
Al-Saadi pointed out that "in the event of any dispute, there are parties that will govern these differences between the beneficiary bank and the sending bank, with the knowledge of the US Federal Reserve and the Central Bank of Iraq, and all parties intervene through SWIFT, which includes 11 thousand banks."
By: Raghad Daham
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