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What are Iraqis waiting for after news of the “sudden suspension” of the dollar selling platform by the Central Bank?
Economy | Yesterday, 12:02 |
Baghdad today - Baghdad
Today, Tuesday (December 24, 2024), the specialist in financial and banking affairs, Alaa Al-Fahd, commented on the impact of stopping the “platform” by the Central Bank on the markets during the next stage. Al-Fahd said, to “Baghdad Today,” that
“the Central Bank of Iraq worked during the previous period with a plan through
an auction to sell the currency in the first stage, then
establishing the electronic platform and
working intensively to find methods of correspondence between local banks and foreign banks with which we have commercial relations and their results in transfers.” “For this reason,
the bank announced some time ago that at the end of the current year, the platform will be stopped and there will be direct correspondent banks.” He stated,
"This is normal.
All central banks in the world's mission is to maintain monetary policy and not sell the currency.
There is no central bank in the world that
sells the currency and
mediates in the buying and selling of the currency.
This work is the jurisdiction and responsibility of the banks and exchange companies.
This matter is correct and it is a major challenge."
So that the relationships are direct commercial and banking, according to supervision by the Central Bank of Iraq.” He added,
"Stopping the platform will not affect the local markets regarding the exchange rate of the dollar, but
there are those who are trying to spread rumors that this step will change the exchange rate, so
selling the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have... Relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and
for this reason the situation is under control and there is no fear of the influence of the markets.”
Yesterday, Monday, the economic expert, Ziad Al-Hashemi, revealed that the
Central Bank of Iraq suddenly stopped the work of the dollar transfer platform, before the specified date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a step that, to say the least, is far from professionalism and transparency.
Al-Hashemi said in a post on the social networking site “Facebook,” followed by “Baghdad Today,” that
“stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear about the results of stopping the platform on the dollar exchange rates, and
not announcing it could It gives the Central Bank an opportunity to disavow and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to significant rates.”
https://baghdadtoday.news/264554-ماذا-ينتظر-العراقيون-بعد-انباء-الإيقاف-المفاجئ-لمنصة-بيع-الدولار-من-قبل-البنك-المركزي؟.html
Economy | Yesterday, 12:02 |
Baghdad today - Baghdad
Today, Tuesday (December 24, 2024), the specialist in financial and banking affairs, Alaa Al-Fahd, commented on the impact of stopping the “platform” by the Central Bank on the markets during the next stage. Al-Fahd said, to “Baghdad Today,” that
“the Central Bank of Iraq worked during the previous period with a plan through
an auction to sell the currency in the first stage, then
establishing the electronic platform and
working intensively to find methods of correspondence between local banks and foreign banks with which we have commercial relations and their results in transfers.” “For this reason,
the bank announced some time ago that at the end of the current year, the platform will be stopped and there will be direct correspondent banks.” He stated,
"This is normal.
All central banks in the world's mission is to maintain monetary policy and not sell the currency.
There is no central bank in the world that
sells the currency and
mediates in the buying and selling of the currency.
This work is the jurisdiction and responsibility of the banks and exchange companies.
This matter is correct and it is a major challenge."
So that the relationships are direct commercial and banking, according to supervision by the Central Bank of Iraq.” He added,
"Stopping the platform will not affect the local markets regarding the exchange rate of the dollar, but
there are those who are trying to spread rumors that this step will change the exchange rate, so
selling the same dollar that the Central Bank of Iraq was selling through the platform will be sold to banks and banks that have... Relations with foreign banks so that the transfer is direct according to electronic transactions and monitoring, and
for this reason the situation is under control and there is no fear of the influence of the markets.”
Yesterday, Monday, the economic expert, Ziad Al-Hashemi, revealed that the
Central Bank of Iraq suddenly stopped the work of the dollar transfer platform, before the specified date, without an official announcement, and without taking into account the interests of Iraqi companies and markets, in a step that, to say the least, is far from professionalism and transparency.
Al-Hashemi said in a post on the social networking site “Facebook,” followed by “Baghdad Today,” that
“stopping the platform without an official announcement by the Central Bank may indicate that there is uncertainty and fear about the results of stopping the platform on the dollar exchange rates, and
not announcing it could It gives the Central Bank an opportunity to disavow and evade the decision to stop the platform and return to operating the platform, even temporarily, in the event that the dollar begins to rise to significant rates.”
https://baghdadtoday.news/264554-ماذا-ينتظر-العراقيون-بعد-انباء-الإيقاف-المفاجئ-لمنصة-بيع-الدولار-من-قبل-البنك-المركزي؟.html
