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[size=36]Al-Sudani's advisor: Auditing foreign transfers enhances dollar stability and strengthens monetary policy[/size]
Economy | 03:32 - 07/22/2024
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Mawazine News - Baghdad
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Monday, that the approval of an auditing company for foreign transfers is an important step to enhance the stability of the dollar and achieve the objectives of monetary policy.
Saleh explained, in a statement to the official agency, that "the accreditation of an auditing company for foreign transfers will provide additional guarantees for the integrity of compliance processes and the speed of functional performance in market transactions, especially foreign transfers."
He added that this will enhance the efficiency of the money market thanks to the clear information it provides, which contributes to the stability of transactions and raises the level of certainty in the market.
Saleh pointed out that this step will achieve two main objectives of monetary policy: first, improving control over local liquidity and controlling money supply growth rates; and second, stabilizing the exchange market by strengthening the role of the official market and outweighing its positive effects on the parallel market.
He added that the two objectives are linked to the role of monetary policy in stabilizing prices and containing inflationary expectations, which ensures stable real flows through the stability of the external value of money and its compatibility with the stability of the velocity of money circulation internally and the general function of the demand for money in the national economy.
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