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Banking: conflict of decisions government is an obstacle to the development of the work of private banks - Gourmet: The Central Bank controls the phenomenon of withdrawal of foreign currency
2/7/2012 4:54:25 PM
BAGHDAD - The Constitution
Likely financial expert Ismail Abdul-Hussein high exchange rate of U.S. dollar against the dinar slightly in the coming period due to reduced selling the dollar at an auction the central bank and the increased demand for purchase by dealers of neighboring countries. Said Abdul-Hussein said the central bank is controlled entirely on the phenomenon of withdrawal of the dollar through monetary policy the current support of the dinar and based on a solid base of the cash reserves of hard currency, especially since all banks operate under the control of the Central. He added that the dinar if left without control to connect the exchange rate to the (1500) dinars to the U.S. dollar each. Revealed: the existence of a plan New with the Central Bank to stop the attrition constant of hard currency in the coming period. noteworthy that the Iraqi dinar exchange rate against the U.S. dollar remains stable between (1200) to JD (1210) to the dollar, despite the increased demand for purchase of Iraqi banks .. so criticized the director of the Association of private banks Abdul Aziz al-Hassoun, the decision of the Ministry of Finance, which provides for the prevention of dealing with private banks, as it would hurt the economic process, as he put it. said Hassoun that the most important obstacles that stand in front of the work of Iraqi banks is the inconsistency of decisions and instructions issued by the Central Bank and Ministry of Finance , through the issuance of a decision by the Ministry of Finance not to deal with private banks because they are not disciplined, while the Central Bank underlines the need to deal with it. He added if there were some private banks in violation of the laws and regulations, this does not mean that all private banks, amounting to more than ( 40) as the bank is disciplined and have issued contrary to the law, and urged not to generalize from the Ministry of Finance to all the private banks not to deal with it. He noted that there are some administrative boards of the domestic banks abused the work of Iraqi banks through non-compliance with laws bank established by the Ministry of Finance and the Central Bank, and there are other banks bound by the regulations and banking regulations imposed on it, so you must specify the banks off in order not to deal with it in order to serve the country and the Iraqi economy. It is noteworthy that the Ministry of Finance issued a decision to prevent its departments dealing with private banks, which was the subject of some surprising economic circles.
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2/7/2012 4:54:25 PM
BAGHDAD - The Constitution
Likely financial expert Ismail Abdul-Hussein high exchange rate of U.S. dollar against the dinar slightly in the coming period due to reduced selling the dollar at an auction the central bank and the increased demand for purchase by dealers of neighboring countries. Said Abdul-Hussein said the central bank is controlled entirely on the phenomenon of withdrawal of the dollar through monetary policy the current support of the dinar and based on a solid base of the cash reserves of hard currency, especially since all banks operate under the control of the Central. He added that the dinar if left without control to connect the exchange rate to the (1500) dinars to the U.S. dollar each. Revealed: the existence of a plan New with the Central Bank to stop the attrition constant of hard currency in the coming period. noteworthy that the Iraqi dinar exchange rate against the U.S. dollar remains stable between (1200) to JD (1210) to the dollar, despite the increased demand for purchase of Iraqi banks .. so criticized the director of the Association of private banks Abdul Aziz al-Hassoun, the decision of the Ministry of Finance, which provides for the prevention of dealing with private banks, as it would hurt the economic process, as he put it. said Hassoun that the most important obstacles that stand in front of the work of Iraqi banks is the inconsistency of decisions and instructions issued by the Central Bank and Ministry of Finance , through the issuance of a decision by the Ministry of Finance not to deal with private banks because they are not disciplined, while the Central Bank underlines the need to deal with it. He added if there were some private banks in violation of the laws and regulations, this does not mean that all private banks, amounting to more than ( 40) as the bank is disciplined and have issued contrary to the law, and urged not to generalize from the Ministry of Finance to all the private banks not to deal with it. He noted that there are some administrative boards of the domestic banks abused the work of Iraqi banks through non-compliance with laws bank established by the Ministry of Finance and the Central Bank, and there are other banks bound by the regulations and banking regulations imposed on it, so you must specify the banks off in order not to deal with it in order to serve the country and the Iraqi economy. It is noteworthy that the Ministry of Finance issued a decision to prevent its departments dealing with private banks, which was the subject of some surprising economic circles.
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