Abadi adviser calls for the establishment of a new bank to finance trade and private sector

The news agency Buratha 34 2016-11-27

He called Prime Minister for Economic Affairs Advisor to the appearance of Mohammed Saleh, Sunday, to set up a new bank for trade finance to the private sector, while stressing the need for separation between monetary policy and the financing of foreign trade.

Saleh said in an interview that "the time has come to separate monetary policy and trade financing to the private sector through the proposal to establish a new bank is composed of government and private sector trade finance to the private sector along the lines of the Iraqi Trade Bank, which finances government trade," noting that "the central bank will sell the dollar to the bank for the latter to turn to trade finance for the private sector. "

Saleh added that "whatever credits include breaches are the safest of transfers that are vague with weak Customs", adding that "the credits based on the shipment of goods that are clear and exaggeration in prices documents, it is censored."

Saleh continued that "hard currency source Mtota of oil to dispose of them and must rationally and central location, and therefore, the trade must be regulated by the government, but without restriction," pointing out that "the trader not to trade bills and claims are incorrect result of obtaining the dinar illegally section including the mysterious ".

He stressed that the benefit of "separation between monetary policy and the central bank intervened to preserve the stability of the exchange rate and the trade finance needs to consider the strength and power in light of a difficult situation at the moment."

It escalated accusations over the currency that has cast a shadow on the sale of the dollar in the domestic market prices of smuggling operations, while MPs demanded that the government take the initiative to stop the sale of currency operations in the auctions of the Central Bank, and others stressed that Iraq is losing big money due to smuggled daily out of bounds, under the pretext of foreign trade.

http://burathanews.com/arabic/economic/306200