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Al-Sudani directs institutions to abide by the Central Bank Law and the Association of Banking Companies
- Time: 08/03/2023 13:06:17
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{Politics: Al-Furat News} Today, Thursday, the Prime Minister, Muhammad Shia Al-Sudani, directed to adhere to work in accordance with what was stated in the Central Bank of Iraq law.
A statement by his media office, received by {Euphrates News}, stated: "In confirmation of the government's approach to continuing reform of the financial and banking sector, and to complement the efforts made by the regulatory agencies and financial institutions concerned with controlling transparency and integrity in this vital sector, Prime Minister Muhammad Shia'a al-Sudani directed the institutions All concerned, to adhere to work in accordance with what was stated in the Central Bank of Iraq Law No. 56 of 2004, which indicated that the Central Bank of Iraq is the only authority that has the authority to take all measures to regulate and monitor the work of banks and non-banking financial institutions to ensure their compliance.
He added, "The Association of Exchange Companies took the initiative to pledge to work seven days a week to sell foreign currency to citizens at the official approved rate, according to the regulations and instructions of the Central Bank."
And the statement continued, “In order to follow up the work of companies and banks, it was decided to form a permanent committee that includes representatives of the Central Bank, the Prime Minister’s Office, and the Association of Exchange Companies, to address the obstacles in the work of this sector.”
[You must be registered and logged in to see this link.]
{Politics: Al-Furat News} Today, Thursday, the Prime Minister, Muhammad Shia Al-Sudani, directed to adhere to work in accordance with what was stated in the Central Bank of Iraq law.
A statement by his media office, received by {Euphrates News}, stated: "In confirmation of the government's approach to continuing reform of the financial and banking sector, and to complement the efforts made by the regulatory agencies and financial institutions concerned with controlling transparency and integrity in this vital sector, Prime Minister Muhammad Shia'a al-Sudani directed the institutions All concerned, to adhere to work in accordance with what was stated in the Central Bank of Iraq Law No. 56 of 2004, which indicated that the Central Bank of Iraq is the only authority that has the authority to take all measures to regulate and monitor the work of banks and non-banking financial institutions to ensure their compliance.
He added, "The Association of Exchange Companies took the initiative to pledge to work seven days a week to sell foreign currency to citizens at the official approved rate, according to the regulations and instructions of the Central Bank."
And the statement continued, “In order to follow up the work of companies and banks, it was decided to form a permanent committee that includes representatives of the Central Bank, the Prime Minister’s Office, and the Association of Exchange Companies, to address the obstacles in the work of this sector.”
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