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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Al-Nusairi: The Central Bank statement is a roadmap to ensure monetary stability

    Rocky
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    • Post n°1

    Al-Nusairi: The Central Bank statement is a roadmap to ensure monetary stability Empty Al-Nusairi: The Central Bank statement is a roadmap to ensure monetary stability

    Post by Rocky Sun 06 Aug 2023, 4:38 am

    Al-Nusairi: The Central Bank statement is a roadmap to ensure monetary stability 

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    Economy News _ Baghdad
    Samir Al-Nusairi, advisor to the Association of Iraqi Private Banks, confirmed that the central bank’s statement clarifying the basic facts related to the exchange rate (US dollar) in the local markets and the role of the central bank in providing foreign currency through its official sources, is the road map for the new phase to achieve stability in the money market, in a way that maintains To stabilize the exchange rate and help recover the Iraqi dinar and reach a point of balance with the announced official price, which is 1,320 dinars per dollar.
    Al-Nusairi indicated, in an interview with "Al-Iqtisad News", that what is called the parallel market is not real, and that what is present in the circulation of foreign currency is a black market that is controlled by speculators by withdrawing the official cash dollar from some non-authorized money changers and outlets for the purpose of covering illegal imports and through illegal border crossings. Official, which was clearly identified in the statement. Because the source of the dollar in Iraq is the Central Bank exclusively, and there is no other source of the dollar that may come from exports to the private sector, the arena, or transfers to residents abroad.
    Al-Nusairi stressed that the system currently adopted to provide the dollar at the official rate is carried out through the electronic platform exclusively for external transfers and documentary credits for merchants and businessmen, and through international money transfer companies (Western Union and MoneyGram) for personal external transfers abroad, such as study and treatment wages, etc., and through banks
     . And metaphorical money changers A, b, and mediator C. Cash dollars are transferred to travelers 
    in accordance with the instructions in force.
    He hinted that the Central Bank follows the market closely in accordance with Law 56 of 2004 through its inspection and oversight teams, and it constantly addresses the obstacles that prevent small traders from entering the electronic platform and works to facilitate them, targeting their gain and securing the necessary flexibility for them to obtain the dollar at the official price and facilitating tax and customs procedures in coordination with government agencies. In order to preserve the safety of money movement and foreign trade, adhere to the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, comply with international standards, and maintain the stability of our financial and banking system and protect it from risks.
    Al-Nusairi concluded his speech by inviting the competent government agencies, the media, merchants, businessmen and citizens to cooperate with the government measures issued by the Prime Minister and work to implement the instructions and regulations of the monetary authority for the purpose of maintaining stability in the exchange rate and the recovery of the Iraqi dinar, especially since it is strong and covered by foreign cash reserves exceeding 113 One billion dollars now, and let our motto always be (Our dinar is our sovereignty).
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