Al-Alaq: There is no intention to reconsider the dollar exchange rates

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[size=52]Al-Alaq: There is no intention to reconsider the dollar exchange rates[/size]

[size=45]The Governor of the Central Bank of Iraq, Ali Al-Alaq, settled the controversy over reconsidering the dollar exchange rates.[/size]
[size=45]Al-Alaq said, in an interview with the official agency, that “there is no intention to reconsider the dollar exchange rates,” noting that “the Central Bank sells more than 250 million dollars daily at the official price.”[/size]
[size=45]He pointed out that "the bank covers the requirements of foreign trade and some do not want fundamentalist methods," noting that "the view that the dollar price has risen or fallen is not a correct indicator."[/size]
[size=45]He stressed "the success of the Central Bank in controlling inflation compared to other countries," adding, "We will reach 100 percent of foreign transfers without going through the US Federal Reserve by the end of this year."[/size]
[size=45]He stressed that "the financial situation in Iraq is still proceeding within what is planned in the state's general budget," indicating that "for the first time, by virtue of the new budget and financial management law, the allocations of the governorates and ministries are being rotated."[/size]
[size=45]Al-Alaq said, “The Central Bank is undergoing a major transformation process by reorganizing foreign trade, and our procedures in foreign trade are being carried out for the first time with the participation of international institutions.”[/size]
[size=45]He added, "There are small traders outside the system who are putting pressure on the market, and a mechanism to regulate their trade is about to be launched. We are focusing on getting everyone involved in the proper, fundamental channels."[/size]
[size=45]He revealed that “the Central Bank has opened channels for the Chinese, Turkish, Indian and Emirati currencies,” announcing “the imminent launch of a new audit mechanism for trade in foreign currencies.”[/size]
[size=45]He stressed that “all commercial foreign transfer operations are subject to review by the specialized international company,” revealing that “meetings will be held in New York at the end of August to discuss lifting sanctions on banks and reviewing transfer operations.”[/size]
[size=45]Al-Alaq explained, “The dollar is not given to the traveler until the departure stamp is stamped,” indicating that “the new mechanism guarantees that the dollar reaches the traveler 100 percent, and we started with it in Baghdad, then Najaf, Basra, Erbil, Sulaymaniyah, and Kirkuk.”[/size]
[size=45]He added, "There is a government trend to increase capital support for the Real Estate Bank and the Housing Fund in the budget," noting that "the bank's initiatives play an exceptional role in trying to bridge the housing deficit."[/size]
[size=45]The Governor of the Central Bank announced that “the paragraph on increasing the capital of the Real Estate Bank and the Housing Fund in the budget has not been implemented yet, and we do not want the bank’s financing to be a substitute for the investor’s obligations,” noting that “the Real Estate Bank has been directed to finance complexes with completion rates of 80 to 90 percent.”[/size]
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