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Association of Banks: Government measures will contribute to reducing the dollar in the parallel market
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Economy News - Baghdad
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Added 11/21/2023 - 11:43 AM
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President of the Iraqi Private Banks Association, Wadih Al-Handal
President of the Iraqi Private Banks Association, Wadih Al-Handal
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Economy News - Baghdad
The Iraqi Private Banks Association announced today, Tuesday, its support for government efforts that contribute to reducing the exchange rate of the dollar in the parallel market, while indicating that Prime Minister Muhammad Shia Al-Sudani’s great support for the private sector is the beginning of reforming the Iraqi economy.
The head of the association, Wadih Al-Handal, told the Iraqi News Agency “INA”, followed by “Al-Eqtisad News”, that “the recent measures of the Central Bank of Iraq and the government, with regard to facilitating trade financing using new currencies, represented by the euro, dirham, Chinese yuan, and Indian rupee, is a step that contributes to reducing the dollar exchange rate.” in the parallel market,” noting that “the regulation of trade financing carried out by the government and the central bank through the entry of other goods into the platform will lead to an increase in trade financing.”
He stressed that "private banks are taking great steps in expanding international relations with international banks, which facilitates the financing of Iraqi trade with countries around the world," explaining that the Prime Minister's great support for the private sector is considered the beginning of reforming the Iraqi economy, especially since the private sector is an important partner for the government. “In providing services, jobs, and reducing poverty.”
He stressed that "private banks are taking great steps in expanding international relations with international banks, which facilitates the financing of Iraqi trade with countries around the world," explaining that the Prime Minister's great support for the private sector is considered the beginning of reforming the Iraqi economy, especially since the private sector is an important partner for the government. “In providing services, jobs, and reducing poverty.”
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Added 11/21/2023 - 11:43 AM
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