by Rocky Mon 16 Oct 2023, 5:31 am
[size=52]Parliamentary Finance stresses the importance of keeping the dollar at home by activating the local industry[/size]
Information / Baghdad...On Sunday, the Parliamentary Finance Committee stressed the importance of activating the local industry to ensure that the dollar remains circulated internally.The Media Department of the House of Representatives stated, in a statement received by “Al-Ma’louma”, that “the Parliamentary Finance Committee, headed by Atwan Al-Atwani and in the presence of its members, held an important meeting to review the report of the subcommittee responsible for monitoring the work of government banks and the Central Bank of Iraq,” noting that “during the meeting, a discussion took place.” The reasons and repercussions of the rise in the dollar exchange rate, and ways to address this sensitive file, as well as other files related to the work of banks.”Al-Atwani said, “His committee, after reviewing the subcommittee’s report, will hold an important meeting with the Prime Minister in the coming days, and a series of other meetings with the Ministers of Industry and Foreign Affairs and the Governor of the Central Bank to find out the reasons for the continued rise in dollar exchange rates and the measures taken to address them.” He added, "The Finance Committee will also sponsor seminars and workshops for the private sector and businessmen in this regard, in order to listen to their opinions and ideas regarding finding effective alternatives and solutions at the current and future levels." Al-Atwani stressed "the necessity of concerted efforts to restore stability to the market, ensure the continued strength of the Iraqi dinar against foreign currencies, preserve the country's hard currency reserves, and strike with an iron fist the heads of speculators who are making a living from this crisis."He warned of “the danger of continuing to deplete the dollar through the expansion of foreign imports, and the importance of limiting trade exchange to essential goods and materials.”He stressed "the importance of activating the local industry and operating Iraqi factories in a way that ensures the circulation of the dollar internally and prevents its smuggling abroad."As for the external reasons indicated in the subcommittee’s report, Al-Atwani stressed “the necessity of integration between the Central Bank of Iraq and the Ministry of Foreign Affairs to address the issue of the decline in US Federal Reserve transfers to Iraq,” pointing out that “this measure needs continuous dialogue and communication with the US Treasury to find out the reasons.” "And address it technically and diplomatically in a way that ensures that the country's need for hard currency is met." The statement added, "The meeting discussed a number of other files, including loans and advances granted by government banks to citizens, as the recent efforts of the Parliamentary Finance Committee, after communicating with the Real Estate Bank, resulted in extending the housing initiative loan repayment period from 15 to 20 years, and canceling the interest." As is the case in the procedures for the first meal that benefits from this initiative.”He continued, "Al-Atwani affirmed his full support for the work of all subcommittees in the Finance Committee to perform their oversight role to the fullest extent, praising the efforts made within the framework of integration between the legislative and executive institutions to serve the nation and the citizen." Ended 25 n[You must be registered and logged in to see this link.] 
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