Sunday, 01 February 2015
Twilight news/Iraqi Central Bank announced Sunday it has adopted resolutions in support of the development of the Iraqi economy, including agreeing to cover overseas banks accounts in US dollars for imports.
altThe Bank said in a statement for "twilight news that" in line with the functions of the Central Bank and its responsibility in supporting development and stimulate the Iraqi economy, the World Bank has taken a number of decisions, including approval of the appointment of a representative of the private banks on the Board of the Central Bank. "
The Bank added that its approval by the Central Bank to cover overseas banks accounts in US dollars to cover imports customers and other purposes without having to pass by the window of sell the currency at the Central Bank of Iraq ".
The Bank said that "the control of these operations within a simplified and transparent mechanism with a plan to create capacities and possibilities to activate the credit instead of the current method and coordinate with banks in this regard."
The Bank stressed the "urgency of legislation guaranteeing deposits, and to recommend to the Government to accept the State institutions for instruments issued by private banks as well as the receipt of taxes and fees for Government."
The Bank said "the formation of a Committee to review the structure of the benefits widen the provision of credit and liquidity".
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