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2022-10-09 07:15
Parliament gives the Central Bank a week to answer parliamentary finance questions related to the currency sale window
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2022-10-09 07:15
Shafaq News/ On Sunday, the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, gave the Central Bank of Iraq one week to answer the questions of the Finance Committee regarding the currency sale window, stressing the need to take more effective precautionary measures to address the inflation caused by the devaluation of the dinar against the dollar.
This came while he chaired an expanded meeting of the Finance Committee, in the presence of Central Bank Governor Mustafa Ghaleb Mokhief, according to a statement received by Shafak News Agency. Al-Mandalawi said, "The Central Bank is directly responsible for implementing the country's banking policies, and it is concerned with developing the work of banks and monitoring their work in order to protect citizens' deposits and keep pace with the global development in this important sector on which the state depends to develop the rest of the sectors such as industry, agriculture, investment, tourism and others, stressing the "The bank must take more effective precautionary measures to address the inflation resulting from the devaluation of the dinar against the dollar."
During the meeting, a number of questions were raised by the members of the Finance Committee related to the currency sale window of the Central Bank, the loans of the industrial and housing initiative, the Central Bank’s policies regarding increasing the capital of commercial, Islamic and private banks, custodial banks, letters of guarantee, and the bank’s supervisory role over banks, and to come up with a sentence From the recommendations, and agreeing to hold another meeting soon to answer the questions raised and to provide a full briefing on all topics and details.”
According to the statement, Al-Mandalawi gave the Central Bank a period of one week to answer clearly the questions submitted by the members of the Finance Committee, and to provide the Committee with all documents related to the file of letters of guarantee and the currency sale window.
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This came while he chaired an expanded meeting of the Finance Committee, in the presence of Central Bank Governor Mustafa Ghaleb Mokhief, according to a statement received by Shafak News Agency. Al-Mandalawi said, "The Central Bank is directly responsible for implementing the country's banking policies, and it is concerned with developing the work of banks and monitoring their work in order to protect citizens' deposits and keep pace with the global development in this important sector on which the state depends to develop the rest of the sectors such as industry, agriculture, investment, tourism and others, stressing the "The bank must take more effective precautionary measures to address the inflation resulting from the devaluation of the dinar against the dollar."
During the meeting, a number of questions were raised by the members of the Finance Committee related to the currency sale window of the Central Bank, the loans of the industrial and housing initiative, the Central Bank’s policies regarding increasing the capital of commercial, Islamic and private banks, custodial banks, letters of guarantee, and the bank’s supervisory role over banks, and to come up with a sentence From the recommendations, and agreeing to hold another meeting soon to answer the questions raised and to provide a full briefing on all topics and details.”
According to the statement, Al-Mandalawi gave the Central Bank a period of one week to answer clearly the questions submitted by the members of the Finance Committee, and to provide the Committee with all documents related to the file of letters of guarantee and the currency sale window.
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