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Economic: The Central Bank does not have the upper hand over the banking system amid financial and institutional corruption
The economist, Ahmed Saddam, confirmed today, Friday, that the Central Bank does not have the upper hand over the banking system, and that the Central Bank has become a prisoner of the US Federal Reserve, so the issue of changing the person of the bank's governor will not lead to changing the current situation in light of the existence of troubled financial policies, a fragile economy and financial and institutional corruption, especially those banks associated with political and partisan parties.
Saddam said to Jazida, “The problem does not lie in the person of the Governor of the Central Bank or in the procedures followed by the Central Bank, but rather the monetary policies of the Central Bank cannot be activated in light of the existence of faltering financial policies, a fragile economy and financial and institutional corruption, especially those banks linked to political and partisan parties.”
Saddam saw, "The Central Bank has become a victim because of these corrupt banks and dollar banks, in addition to the fact that the Central Bank has become like a prisoner of the US Federal Reserve, and therefore even if the person of the bank's governor changes, it cannot move still towards the banking situation in Iraq, due to the fact that the Central Bank does not have the upper hand over the banking system for the aforementioned reasons."
He continued, “And if we assume the controversy of Trump’s return to the White House, then the pressure will be greater on the Iraqi banking system, and therefore the dollar remains swinging more depending on political positions than economic changes.
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With this economists invoking a presidential election that may or may not be an outcome is telling. Those bankers that have political ties that seem to be a binding the arms of the central bank now are exposed to who they are affiliated with. It is not new to us, but, now without saying directly, we know the person he mentions has been firmer on Iraqs neighbor than that one of today. Imo.. ~ MM
Economic: The Central Bank does not have the upper hand over the banking system amid financial and institutional corruption
The economist, Ahmed Saddam, confirmed today, Friday, that the Central Bank does not have the upper hand over the banking system, and that the Central Bank has become a prisoner of the US Federal Reserve, so the issue of changing the person of the bank's governor will not lead to changing the current situation in light of the existence of troubled financial policies, a fragile economy and financial and institutional corruption, especially those banks associated with political and partisan parties.
Saddam said to Jazida, “The problem does not lie in the person of the Governor of the Central Bank or in the procedures followed by the Central Bank, but rather the monetary policies of the Central Bank cannot be activated in light of the existence of faltering financial policies, a fragile economy and financial and institutional corruption, especially those banks linked to political and partisan parties.”
Saddam saw, "The Central Bank has become a victim because of these corrupt banks and dollar banks, in addition to the fact that the Central Bank has become like a prisoner of the US Federal Reserve, and therefore even if the person of the bank's governor changes, it cannot move still towards the banking situation in Iraq, due to the fact that the Central Bank does not have the upper hand over the banking system for the aforementioned reasons."
He continued, “And if we assume the controversy of Trump’s return to the White House, then the pressure will be greater on the Iraqi banking system, and therefore the dollar remains swinging more depending on political positions than economic changes.
—————————————————
With this economists invoking a presidential election that may or may not be an outcome is telling. Those bankers that have political ties that seem to be a binding the arms of the central bank now are exposed to who they are affiliated with. It is not new to us, but, now without saying directly, we know the person he mentions has been firmer on Iraqs neighbor than that one of today. Imo.. ~ MM
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