Distinct role: Al Nassiri Iraqi Central Bank in supporting the national economy
Written by Economic news editor
Date: September 20, 2016
He said banking expert and member of the International Union of Arab bankers Samir Al Nassiri "from time to time appear in some competent economic media calls for questioning and criticism of the procedures and mechanisms and policies adopted by the Central Bank in applying monetary policy therefore calls us economic and banking jurisdiction to respond to the criticism calmly and scientific and specialized as follows: –
• The Central Bank is a financial institution specific functions independent sovereign sober law – 2004 56 specialists know well the considerable efforts made since 2004 till present time in reducing inflation, controlling a balanced price Iraqi dinar exchange rate and foreign cash reserve building.
• Despite severe financial and economic crisis suffered by Iraq because of falling oil prices and the costs of the war on terror, the Central Bank managed in economic and financial measures calculated and daring of continued support for two years for the Iraqi economy and contributed significantly to secure salaries for employees and retirees and reimburse contractors and farmers,
in addition to his initiative to revitalize the economic cycle and to allocate six tWokhmsmaeh rilion billion dinars for the financing and operation of small and medium-sized enterprises in the sectors of housing, agriculture, industry and banking and support economic and social objectives as well as other important actions to recalculate the legal reserve for banks to provide liquidity to banks and deposit insurance corporation for the purpose of restoring confidence in the banking sector and increase the proportion of cash in banks mass savings on the expense ratio of compactness,
so emphasize inviting the Central Bank for members of the House of representatives to visit him and see the fact that efforts in the national economy and are also invited to economic information to be National flags in support of the economy and analysts and a thorough scientific and diagnostic problems and constraints to work in fiscal and monetary policy without prior intent and suggest possible alternatives because there are no jobs without omissions and errors.
* Samir Al Nassiri, Member of the International Union of Arab bankers