Central Bank of Iraq and the problematic neglect of the national economy guide

13/1/2017

CBI exercise its role Kai central bank in the world is no longer, and based on the leadership and organization of the national economy, and is well known that central banks and duties of many of them.

Ola..toger and development of the national economy.

Thania..ajrae clearing process.

Third .mahafezh on the reserve of foreign currency

IV. Issuing and regulating the affairs of the national currency.

Fifthly. Work to increase the volume of investment by regulating interest rates

VI. Overseeing administrative and financial oversight of the civil and government banks.

Vii. Advise the government to draw a policy of financial and economic of the country

VIII. Work on achieving an appropriate credit rating of the country.

IX any duties required for the daily work of banking service.

If you accept any of us Activity CBI found negligent clear with regard to implementation of the requirements of his first and most dangerous is not maintaining the cash reserve of the country, as it is attributed to the extent of threatening the credit class or credit rating of Iraq fell. As he through bidding in the sale of the dollar allowed the field to manipulate the value of Iraqi dinar on the one hand and to allow the smuggling of currency and that the importer is no longer committed to the Iraqi been stated or global imported goods not to mention the import of luxury goods or unnecessary or import of phenotypic consumption goods, compared to the lack of attention the import of capital goods , which can domestic production Dam consumption and employment, and the central bank can demand from the government to work to follow the protection policy to encourage national production, especially agricultural commodities, and that Iraq return to the country of origin, to Amistord even ice - cream or chocolate. The central bank 's return to the import policy through the opening credits , in coordination with the Department of Commerce regarding the granting of import licenses required for the goods is a work of the savior of the economy of Iraq, where you can not import what can be produced locally and that they can be driven and seriously to increase the provision of electric power according to the need of production of the country. Such a bank to encourage saving and so take to the amounts less than what is declared him recently to encourage savings , and even if the amount of not less than five thousand dollars in a savings fund of foreign currency, and to be fixed deposits for a period of one year , renewable for automated and an amount not less than ten millions of Iraqi dinars. This encourages citizens to turn out savings funds because this process will prevent the consumption is not logical and it would also contribute to the formation of government stockpiling cash for the banks, and that the central bank can gradually adapt the economy to be a production economy , not the economy of consumption ......