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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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    The storm of the high price of the dollar is blowing in the face of the governor of the Central Bank

    Rocky
    Rocky
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    Join date : 2012-12-21

    The storm of the high price of the dollar is blowing in the face of the governor of the Central Bank Empty The storm of the high price of the dollar is blowing in the face of the governor of the Central Bank

    Post by Rocky Thu 29 Dec 2022, 6:38 am

    [size=38]The storm of the high price of the dollar is blowing in the face of the governor of the Central Bank of Iraq[/size]


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    December 29, 2022[You must be registered and logged in to see this link.]
    Baghdad / Obelisk: After the level of criticism of the performance of the Central Bank of Iraq rose, in the face of the rise in the exchange rate of the dollar, which occurs from time to time, calls are escalating for the dismissal of the bank's governor, Mustafa Makhaif.
    The head of the awareness movement, Salah al-Arabawi, said that the central bank governor had failed to control the dollar and the government should dismiss him and appoint a competent person capable of managing the crisis.
    Representative Majid Shankali explained that the reason for the dollar's rise is the central bank's failure to draw up monetary policy, to stop illegal foreign transfers, and to combat money laundering and laundering of some facades of blocs and parties, who were falsely named businessmen.
    He wondered: Where is the central bank that did not make any statement on the subject, especially the governor who has nothing to do with money and the economy, but this is our case in which a legal person can assume the highest banking position in the state!
    A member of the European Institute of Corporate Governance (ECG), Wadah Taha @waltaha, said that the Central Bank must exercise its role in accordance with the law in applying all means to achieve the national economic interest of Iraq and impose strict control on banks and transfers instead of imposing sanctions from abroad, which we are indispensable.
    In an examination of the causes of the crisis, the advisor to the Prime Minister, Mazhar Muhammad Salih, explained, on Thursday, regarding fluctuations in the exchange rate of the dollar in the Iraqi market, that the external transfer platform meets 90% of the market demand for foreign currency.
    On Thursday, the judge and politician, Wael Abdel Latif, spoke about the fact that political parties and armed factions have a major role in raising the price of the dollar recently in the Iraqi market.
    Abdul Latif confirmed in a televised statement, followed by (Baghdad Today), that “there are three opinions regarding the rise of the dollar, including those who say that the Federal Bank has begun to audit private banks and 4 banks have been suspended from work, indicating that “these banks belong to political parties and figures.”
    He added, “The second aspect is represented by the opinion that $4 billion was paid to Iran, represented by gas and electricity debts, but it was paid in Iraqi dinars, so Iran has lowered these amounts to the Iraqi market to buy dollars at any possible price, which caused the withdrawal of large quantities of dollars and an increase in its prices.”
    He explained that "the opinion and the third scenario, it lies in the existence of a lot of money in the Iraqi dinars with the political parties and some factions get them, and they do not deposit money in banks, so they put it in the market to convert it into dollars."

    Professor of Economics at the University of Basra, Nabil Al-Marsoumi, pointed out that the central bank is unable, until now, to use cash reserves to support the dollar, despite the insane rise in Iraq.
    Coinciding with the wave of criticism, calls for the dismissal of the central bank governor, Mustafa Makhaif, rose, due to his failure to perform his duties after the current crisis.
    And the former member of the Parliamentary Finance Committee, Abdul Hadi Al-Saadawi, called for changing the governor of the Central Bank, indicating that the current governor is not qualified to manage the Central Bank.
    A member of the Finance Committee in the former parliament, Rahim al-Darraji, said that the central bank is the cause of all the problems in Iraq, revealing the reason for canceling a frightening interrogation.
    Al-Darraji made it clear that many personalities called and intervened to cancel Al-Darraji's interrogation, and indeed that happened.
    Representative Kazem Al-Sayyadi called for the dismissal of Makhaif and for not defending him from political forces.
    Social studies teacher Hatem Al-Ajibi said that the failure of the governor of the central bank to maintain the stability of the exchange rate of the dollar necessitates that the Sudanese dismiss him for failing in his duties.
    Representative Basem Khashan said that the governor of the Central Bank is legal and has no experience in managing banks, funds, accounting, or any specialization close to banking.
    He added that Mustafa Makhaif reached this position through a political party and influential bank owners, while he remains in his position and expands in the government of Muhammad Shia, surprisingly: we do not know the reason for his survival or the reasons for his expansion!
     
    Prepared by Sajjad Al-Khafaji
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