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The central bank clarifies its goal of establishing a sovereign fund
Monday, July 18, 2022 6:12 PM
National News Center/ Baghdad
Today, Monday, the Central Bank of Iraq clarified the purpose of its call to establish a sovereign fund, while noting that
the currency sale window was found to facilitate the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, in a statement to the National News Center, that
“the bank’s management called for the necessity of allocating a sovereign fund to benefit from the financial abundance of the state,” explaining that
“the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of Finance in the main.” Khalaf added,
"The Central Bank contributes to the management of this fund."
Concerning the currency sale window, the deputy governor confirmed that
“the currency sale window was found to facilitate the financing of foreign trade in the main.” He stressed,
"Exports of currency are an economy that depends primarily on imports, and
it is a channel for providing foreign currency in order to provide goods and services,
in addition to selling currency to citizens through banks and exchange companies."
The central bank clarifies its goal of establishing a sovereign fund
Monday, July 18, 2022 6:12 PM
National News Center/ Baghdad
Today, Monday, the Central Bank of Iraq clarified the purpose of its call to establish a sovereign fund, while noting that
the currency sale window was found to facilitate the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, in a statement to the National News Center, that
“the bank’s management called for the necessity of allocating a sovereign fund to benefit from the financial abundance of the state,” explaining that
“the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of Finance in the main.” Khalaf added,
"The Central Bank contributes to the management of this fund."
Concerning the currency sale window, the deputy governor confirmed that
“the currency sale window was found to facilitate the financing of foreign trade in the main.” He stressed,
"Exports of currency are an economy that depends primarily on imports, and
it is a channel for providing foreign currency in order to provide goods and services,
in addition to selling currency to citizens through banks and exchange companies."
