Alnasiri: distinct role of the Central Bank of Iraq in supporting the national economy

2016/09/20 | 18:01


Date: September 20, 2016



Said banking expert and member of the World Union of Arab Bankers Samir Alnasiri "from time to time appear in some of the media and economic is competent invitations to discredit and slander and criticism of the procedures and working mechanisms and policies adopted by the Central Bank in the implementation of monetary policy that calls us the economic and banking jurisdiction to respond to these criticisms quietly and scientific and specialist, as follows: -

The central bank is solid sovereign financial institution independent of its functions specified by law - 56 of 2004, specialists are well aware of the great efforts made since 2004 to the present time in the reduction of inflation and control on a balanced price to the price of the Iraqi dinar exchange and build foreign cash reserve.

Despite the severe economic and financial crisis suffered by Iraq because of falling oil prices and the costs of the war on terror, the central bank managed and procedures for economic and financial calculated and daring to offer continued support two years ago for the Iraqi economy and contributed significantly to securing and retired employees' salaries and reimburse contractors and farmers, in addition to initiative to activate the economic cycle and customize six trillion Okhmsmaih billion dinars for the financing and operation of small and medium enterprises in the housing, agriculture and industry and to support the banks and achieve economic goals and social sectors, as well as take other measures important recalculates the legal reserve for banks to provide liquidity to the banks and the establishment of a deposit insurance corporation for the purpose of restoring confidence in the banking sector and increase savings ratio of monetary mass in the banks at the expense of the proportion of compactness, so emphasize the invitation of the Central Bank of the masters of the members of the House of Representatives to visit and see the reality of the efforts in serving the national economy which also call for economic notification to be a notification that a national supporter of Economics and analysts and stomatitis in a scientific and accurate to the problems and obstacles to work in financial and monetary policies without prior intent and propose possible alternatives because it does not work without the lapses and errors.

* Samir Alnasiri / member of the World Union of Arab Bankers


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