The central bank back on its earlier decision to deny an auction of 14 banks currency terms

BAGHDAD - Iraq Press - June 11: There is no doubt that the high price of the dollar disproportionate directly proportional to the decline in gold and oil prices as well as currency smuggling and the large demand for the dollar because of the deteriorating security conditions in the country are put pressure on the Central Bank and its decisions is crucial that took accelerating pace looks It is well thought out. After that issued the Central Bank of Iraq, last Monday, a decision to exclude 14 banks from engaging in currency auction and deprive it of the purchase of the dollar, causing up the dollar's exchange rate against the dinar returned the central bank, on Thursday, to give those banks 10 days of the order placed files about deductions for tax and customs, and otherwise will be eliminated once and for all. "

Announced that the Association of Iraqi banks, Thursday, that "the Central Bank of Iraq agreed to the return of fourteen banks that were excluded from the currency auction, the terms".

He said the Executive Director of the Association, Ali Tariq, said that "the Central Bank of Iraq issued a few days before a decision to deport 14 regional banks from participating in the auction currency, as well as to stop the strengthening of their assets abroad because of its failure to pay all amounts due Bzmtha all deductions and tax secretariats and customs and turn them into account General Authority for taxes and the General Authority for Customs ".

And he added that "the Association moved into their work tasks to the Central Bank explained that the banks position and the consequences of the impact of the resolution on the market and the dollar exchange rate", pointing out that "the central bank took into consideration those actions and decided to return these banks are all to currency auction."


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