In support of market stability
initiated the Iraqi private banks association and through a number of affiliated banks under its banner to reduce selling the dollar for the citizens and businesses of banking rate to 1193 dinars to the dollar and the price of 1192 dinars to the remittances and starting on Sunday.
Executive Director of the Association of Ali Tariq said, will be announced later from other banks, which will join these banks expected rise in the number of private banks that adopt this initiative to up to 40 banks.
He pointed out that this initiative will have a role in the local business market stability and will take over banks follow their customers from banking companies to commit to this initiative and open windows to the public and selling prices new.
The Managing Director of the Bank of Assyria international Adnan Chalabi has said that the initiative is in support of monetary policy of the Central Bank of Iraq in order to stabilize the dollar exchange rate service the Iraqi economy, pointing out that the private banks that have adopted this initiative represented both banks of Assyria, the Middle East, across Iraq, home of Islamic, Union, Gulf, Dar es Salaam, the country's Islamic, as well as Islamic Iraqi banks and the United investment, the province trading, Bank of Arbil, Iraqi Credit Bank of Mosul and the Bank of Ceyhan.
The Chairman of the Board Middle East Bank Administration Seif Youssef Ghulam said: The initiative comes in light of the current situation experienced by the country, hoping to adopt all banks this initiative to maintain acceptable rates of the dollar against the Iraqi dinar, pointing out that the initiative will follow the mechanism of selling down to the last beneficiary.
He returned Executive Director of the Association confirms that bent Association to follow up this issue seriously in order to stabilize the domestic market, pointing out that the local markets are closely linked to the sale of the dollar, noting that the Association is following all the challenges facing the work of private banks and overcome them in cooperation with the relevant authorities.
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