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What are the goals of expanding external transfer channels by the Central Bank of Iraq?
Economy 12-19-2024, 15:01 |
Baghdad today - Baghdad
Today, Thursday (December 19, 2024), economic affairs specialist Alaa Al-Fahd revealed the
goal of the Central Bank of Iraq to expand external transfer channels for local banks.
Al-Fahd said, in an interview with “Baghdad Today,” that
“as part of the Central Bank’s policy and its ongoing attempts to control foreign transfers to finance trade, especially in dollars,
there is a continuous effort to expand the basket of foreign currencies that are used for imports, especially
with the countries that we have.” Import transactions, the transfer is in the currencies of the countries, and
there was an agreement regarding this with the Turkish side, as well as the Emirates, China, and today with Jordan and Saudi Arabia.” He stated,
"This step reduces the demand for the dollar to finance foreign trade.
Most of the demand for the dollar is to finance foreign trade, and
with the expansion of the basket of currencies, the pressure in the parallel (black) market on the dollar decreases, and
this reduces the exchange rate in the local market." He added,
"This step will also allow many banks to deal with many countries according to the currencies of those countries, and
this enhances a major role in developing the work of banks in terms of experience.
Its main goal is to control the dollar exchange rate and work to reduce it."
https://baghdadtoday.news/264256-ما-اهداف-توسيع-قنوات-التحويل-الخارجي-من-قبل-البنك-المركزي-العراقي؟.html
Economy 12-19-2024, 15:01 |
Baghdad today - Baghdad
Today, Thursday (December 19, 2024), economic affairs specialist Alaa Al-Fahd revealed the
goal of the Central Bank of Iraq to expand external transfer channels for local banks.
Al-Fahd said, in an interview with “Baghdad Today,” that
“as part of the Central Bank’s policy and its ongoing attempts to control foreign transfers to finance trade, especially in dollars,
there is a continuous effort to expand the basket of foreign currencies that are used for imports, especially
with the countries that we have.” Import transactions, the transfer is in the currencies of the countries, and
there was an agreement regarding this with the Turkish side, as well as the Emirates, China, and today with Jordan and Saudi Arabia.” He stated,
"This step reduces the demand for the dollar to finance foreign trade.
Most of the demand for the dollar is to finance foreign trade, and
with the expansion of the basket of currencies, the pressure in the parallel (black) market on the dollar decreases, and
this reduces the exchange rate in the local market." He added,
"This step will also allow many banks to deal with many countries according to the currencies of those countries, and
this enhances a major role in developing the work of banks in terms of experience.
Its main goal is to control the dollar exchange rate and work to reduce it."
https://baghdadtoday.news/264256-ما-اهداف-توسيع-قنوات-التحويل-الخارجي-من-قبل-البنك-المركزي-العراقي؟.html
