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Central Bank Governor: latghiirgohri on sale the dollar, and Bank reserves aldolarmtamaen, welatathirlnavzah actual currency

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Central Bank Governor: latghiirgohri on sale the dollar, and Bank reserves aldolarmtamaen, welatathirlnavzah actual currency

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News/private economy Beirut Ghassan judge.

Iraqi Central Bank Governor stressed the relationship, having no shift key on sale aldolarboasth currency window, except for some disciplines, describing the Central Bank's reserves of hard currency b (reassuring), denying the existence of any reserve currency tatherlmsad, calling on the boards of private banks not to involve themselves balamoraltnvizeih, so put themselves culpable.

He said the relationship was speaking to delegates on the sidelines of the "news" Iraqi banking Forum III, held in Beirut from 11 to 13 January now, "Iraq's reserves of aldolarmtamaen, within our accounts in light of the revision of the International Monetary Fund for the coming years."

"Don't compare reserve absolute number but within almaiaraldoli that the local currency in circulation bkdrhagm awakthrmnha, thus the dollar reserve still bemkdarmnasb enough and size",
noting that

"the size of the reserve with the Central Bank of the Federal generals make ytghiriomia worth of Ministry of finance, wemaibiah of the worth of the currency window, saying it does not have a specific figure for the mtghirghirthabet reserve.

In response to accusations by some of the Central Bank in him neglecting Iraq's foreign exchange reserves, "the Governor said this speech betrays the lack of briefing and understanding the dollar which is sold in all countries of the world, where annual swap trillions of dollars in buying and selling in the markets, saying that the situation in Iraq akthrodoha of those countries because of the necessities of the dollar by selling by the Central Bank of the msadraldolar one is the Government, through the Central Bank selling process for The Iraqi dinar from the market."

The conservative view that persevering to the dollar by selling window before the Central Bank, saying the Central Bank halted dollar sales awahagamh, will anhiaraldinaralaraki, and the dollar rise dramatically, pointing out that there are central banks in countries around the world not enter to sell the dollar by insulting owning these States aldolarkharg revenue within their Governments, making these banks and the market generally the same breed themselves through exports and foreign investment and remittances.

In response to a question concerning changes in objects will occur in the future to sell window confirmed the relationship, no substantive changes except for a review every once in a while for banks participating in the window to determine the share of each bank in accordance with standards concerning the extent of its commitment to the rules and procedures for operational confidence and validity.

On the position of the Central Bank of contrast and contradiction between the laws and regulations governing the private banking business in Iraq, the Governor said that the Central Bank has prepared a guide called (corporate governance Guide) to act as a mentor for banks sets out precisely the functions and responsibilities of each of the boards of banks and executive departments, noting that this evidence which was subjected to a thorough examination by a consulting Office, and in the light of the experience of other countries is now in print and will be distributed to all banks soon.

The Governor threw the blame on some boards of private banks due to involve themselves in operational tasks, which gave a different impression of the nature of the tasks which confers responsibilities, stressing the importance of the separation of banks and administrations between owners.

Central Bank Governor spoke to the ideas that were raised during the side events held on the sidelines of the ist banks Iraqi banking Forum III in Beirut, describing the alavkarbalasasih explaining that the Central Bank pays for the contribution of the banks that possess great potential and opportunities in the areas of economic development in the country, said

"we have ideas for joint loans uttmoil to establish a joint investment fund, contributing to its banks , Is devoted to the financing of investment projects of public interest, such as the establishment of railway lines serve multiple purposes and have a significant role in the economic development process.

In response to a question on the measures that the Central Bank has taken to return the deposits of private banks seized by the Kurdistan region, between the conservative Central Bank actively liaised with the territorial Government to find solutions to this issue, which was a large concern by the Central Bank, and follows the bastmararma of the territorial Government for certain solutions from coming, noting that perceptions of Central Bank wavkarhol resolve this issue nntzerrd territory".

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