Claims liberalizing the economy of restrictions

Claims liberalizing the economy of restrictions


03/06/2014 08:05

Day after day are increasing calls for the need for coordination and cooperation between the competent authorities of the financial market exit consensual visions serve the public interest of the country.
Since the state is moving towards gradual transition to a market economy, according to the text of the Constitution, has said economic expert, Dr. appearance of Mohammed Saleh, said that all instructions issued by the Central Bank of Iraq to be in accordance with the special law.
But Saleh stressed the importance of discussing laws with the central market for the lack of a conflict of interest detrimental to the state and the financial market at the same time.
Regarding the problematic central bank's decision last your inventory distribution outlets of foreign currency in banks and private objections Association Chirvien Iraqis, Saleh called on to go out to see a compromise in the public interest, because the interests of the state and corporate banking tasks at the same time, urging that the coordination is high between the two parties in order to avoid conflicts .
The Association Chirvien Iraqis had promised central bank's decision last inventory distribution outlets of foreign currency in banks own "incompatible" with the principle of the free market, and lead to a monopoly of foreign currency, and disrupts the movement of goods, and appealed to the bank to reconsider its decision, indicating that "the most prominent of these risks opportunity for only a small number of owners of private banks the monopoly of the direct purchase of the currency, and control the price of traded, and violation of the rules of the free market that the country seeks to consolidate as a basis for building a free economy and a sophisticated unable to overcome the red tape and regulations strict that limit the movement of trading money. "
And Saleh stressed "the necessity of faith in free markets and liberal world, but we must not offend the liberal to the economy and to be disciplined and liberate the economy from the constraints and time itself is not taken as a pretext to money laundering and do not exaggerate the issue of money laundering and taking it as a pretext to suppress the market."
He continued by saying: "It needs to be rational and coordinate high, and should support the market, either to back down from making or amendment in accordance with the coordination of high between the two parties", refusing to suppress any banking institution, a small financial limited, after granting a vacation, because it would incur many costs and capital money is high, as it should not be allowed to profit opportunities team without another team, calling for there to be justice in the distribution of profits.
And use the method of the Central Bank of daily auctions for buying and selling the dollar in 2003 with the aim of controlling the money supply and adjust the levels of liquidity flowing into the reduction of inflation and achieving stability in the general level of prices, and meet the demand of banks and citizens of the dollar.
The aim of the existing facilities, the according to a special report issued recently concerning the reform of the banking system in Iraq to grant security for banks to manage excess liquidity within the moderate level of interest rates by the expansion of the objectives of monetary policy related to interest rates of short-term and that the adoption rate of monetary policy as the price Tahiria , in addition to the exchange rate between banks within operations.

[You must be registered and logged in to see this link.]|en&u=http%3A%2F%2Fwww.imn.iq%2Fnews%2Fview.5514%2F