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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Baghdad clamping down on the banks of Iraqi Kurdistan

    Rocky
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    • Post n°1

    Baghdad clamping down on the banks of Iraqi Kurdistan Empty Baghdad clamping down on the banks of Iraqi Kurdistan

    Post by Rocky Thu 19 Oct 2017, 4:47 am

    Baghdad clamping down on the banks of Iraqi Kurdistan



    Wednesday, 18 / October / 2017 - 18:21

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    The President of the Financial and Economic Committee in the Kurdistan Regional Parliament, Izzat Sabir Ismail, that imposed by Baghdad on the banks of the region economic measures have led to the spread of the "black market."

    He said Ismail told the "Sputnik" Russian, in response to a question about the impact of Baghdad, the economic measures of the recent restrictions on the banks of the region from the end of last September: "led to the increase in the spread of the black market, this first. Second became the transfer of funds formal and legal way, more expensive, especially transfers abroad, conducted through the Central Bank of Iraq, in Baghdad. "

    He added: "20 days ago almost exposed financial banks in the Kurdistan region of great problems, so that the Central Bank of Iraq, stop all financial transfers from all commercial banks and from the region, with the exception of the Kurdistan International Bank. This affects the economic activity, and on commodity prices, and how money from Kurdistan to convert. "

    This was the Iraqi Council of Representatives has taken a decision on October 3, the Central Bank of Iraq is required not to sell foreign currency to operating in the Kurdistan region of banks, as well as banks that have branches in the region.

    On buying and selling Ismail said: "Before that traders are turning to the dollar to neighboring countries or countries from which they purchase goods and services. But now they can not transfer this money to import essential goods and materials. This in turn leads to higher prices of materials, affecting the citizens' income and living situation of the people. "

    He continued, "for example, oil derivatives, we have exported them to Iran and the rest of the world, you need. Now these exports have stopped, and we import gasoline and white oil, this also stopped."

    This, according to some reports, that the hard currency entering the size of the territory of Iraq on a daily basis between 4 and $ 5 million, and supports the private sector in Kurdistan on the hard currency business dealings, with both Tehran and Ankara through the import of food and construction operations.


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