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Economics: official source at the Central Bank : the aim of the auction, the daily maintenance of the stability of the value of the Iraqi dinar
:Baghdad : al-Basil
The Iraqi Central Bank to sell the American dollar against the Iraqi dinar through a daily auction exhibit, since this auction is a tool for achieving stability in the value of the Iraqi dinar by defending the exchange rate stable for a long period, which reflected the general level of prices.
According to an official source at the Central Bank of Iraq in response to a question from the representative of the new "morning" The source added : there is no intention at this time to change the Iraqi currency is expected that the issuance of new categories of transactions, and according to the requirements of the Iraqi economy to meet the expenses of the state in the next stage.
Regarding future plans to address the debt Iraqi source said that Iraq signed agreements with the Paris Club countries to address its debts by reducing 80% of the debt.
As for the restoration of Iraq's financial position and economic cooperation between the countries of the world, the legal duration of the source indicated that Iraq started to restore its economic and financial gradually since that depends on the internal stability of the country and this site will be enhanced activation of the investment law, and the evolution of the security situation.
As for the supervision of the domestic banking activity in Iraq by the Central Bank and reform of the source pointed out that the Central Bank is supervising the local banking activity and as stated in Article (40) of the Central Bank Act No. 56 of 2004 as well as through the Banking Act No. 94 of 2004 as e a bank related to the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. On the other hand source said that the Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. This is the beginning of cooperation and openness to the world towards the revitalization of the economy in the country.
Translated version of http://www.newsabah.com/paper.php?name=News&file=article&sid=22813