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Parliamentary Integrity: Procedures against the Central Governor for not attending the hosting
Iraq 01/19/2023
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Baghdad: Rula Wathiq
The Parliamentary Integrity Committee intends to take legal measures against the governor of the Central Bank after he refused to attend hosting it to follow up on the issue of the high dollar exchange rate, which led to major problems in the local markets.
And the Central Bank of Iraq had decided in the year 2020 to raise the selling price of the dollar to banks and exchange companies to 1460 dinars, instead of 1182 dinars per dollar, and attributed the reason for the decision at the time to compensate for the decline in oil revenues resulting from the decline in global crude prices.
Committee member Hadi al-Salami said in a statement to “Al-Sabah”: The committee, after continuous follow-ups of the rise in the exchange rate of the US dollar against the Iraqi dinar, which led to great dissatisfaction because of its great impact on the dealings of merchants and local markets and its direct impact on the daily livelihood of citizens, sent an invitation to host Yesterday, Wednesday, to the governor of the Central Bank to come to the committee and discuss the matter of restoring the exchange rate to its previous one, however
He refused to attend.
Iraq relies on 95% of its income on oil revenues, and the Central Bank had devalued the dinar in December of 2015, when it raised the selling price of the dollar to 1182 dinars, compared to 1166 dinars in the past.
Al-Salami added that the committee is determined to take legal measures against him, especially since he refused the committee’s request to send the details of the daily publication to the banks after sending him an official letter to that effect, stressing that the Integrity Committee has the right to know the fate of foreign currency in the country, and to find out what is currently going on, whether it is monopoly or smuggling. For hard currency, indicating that the committee has a plan and continuous follow-ups regarding the rise in dollar prices because of its direct and significant impact on the lives of citizens and the sustenance of their families.
Edited by: Mostafa Majeed
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