Central Bank demanding Government return to Central if not absorb market economy
The Central Bank demanding the Government return to the Central if not absorb the market economy
Alsumaria news -09/08/2012-8: 23 pm | Hits: 224
The Central Bank of Iraq, called on Thursday, Iraqi Government to return to the central system in the absence of its potential to absorb the market economy, noting that he was able to finance the Iraqi private sector trade over the past years.
Deputy Central Bank Governor Mohammad Saleh appearance in an interview for "alsumaria news", that "there is no political or economic philosophy can find out Iraqi economy in terms of the system, amrksi or free", demanding the Government to "return to the central system in the absence of absorption of market economy philosophy."
Saleh said "the State must choose between returning to the central system of foreign trade finance for the private sector, through the federal budget by State banks with Shea of economic freedom or belief in the economic liberalism of the Bank Act after 2003, law on banks and companies and freedom of conversion".
Saleh said that "the Bank could trade financing for the private sector through the auction by the Bank daily successfully", "questioning the ability of Iraqi budgets that increased until 2012 from 470 billion dollars for any economic development".
Member of the Finance Committee, accused the House of Haytham Al-Juburi Wednesday (8 July the present), influential political figures of the Central Bank with smuggling 10 million dollars daily to finance terrorism, noting that about 220 billion dollars smuggled out of Iraq since 2003.
The Iraqi Central Bank holds daily meetings for the sale and purchase of foreign currencies with the participation of Iraqi banks, with the exception of holidays which the Bank stops on these auctions, sales are either critically or in the form of money orders sold to abroad for a certain fee.
Iraq's seven state-owned banks and private banks, eight Islamic banks, as a Central Bank, the banking sector is dominated by the Rafidain and Rashid banks and Government are currently restructuring to pay debts accumulated after years of war and sanctions.
"we aspire in the near future to the return of Iraqi dinar to what it was in the seventies and the beginning eighties against the dollar" - Dr. Shabibi
ďI just did my job...You either get them out alive or you die trying. If you donít die trying, you didnít try hard enough." - Marine Sergeant Dakota Meyer, Medal of Honor recipient