Aug 3 13:15
Information / Baghdad..
Today, Thursday, Prime Minister Muhammad Shia al-Sudani directed all concerned institutions to adhere to work in accordance with what was stated in the Central Bank of Iraq Law No. 56 of 2004.
A statement by the Prime Minister's Media Office, received by Al-Maalouma Agency, stated,
"In confirmation of the government's approach to continuing reform of the financial and banking sector, and
as a continuation of the efforts made by the regulatory agencies and financial institutions concerned with controlling transparency and integrity in this vital sector, Prime Minister Muhammad directed Shiaa Al-Sudani, all concerned institutions, to adhere to work in accordance with what was stated in the Central Bank of Iraq Law No. 56 of 2004. He added,
"The aforementioned law shows that the Central Bank of Iraq is the only body that has the authority to take all measures to regulate and monitor the work of banks and non-banking financial institutions to ensure their compliance." He pointed out,
"The Association of Exchange Companies took the initiative and pledged to work throughout the week to sell foreign currency to citizens at the approved official rate, according to the regulations and instructions of the Central Bank."
In order to follow up the work of companies and banks, the statement confirmed,
"It was decided to form a permanent committee that includes representatives of the Central Bank, the Prime Minister's Office, and the Association of Exchange Companies, to address the obstacles in the work of this sector." End/25