Central Bank Governor: Atgierjohra to the process of selling the dollar, and the reserve bank of Atarmtmin, but it Atathirlnavzh Currency

The governor of the Iraqi Central Bank on the Keywords, lack of Tgierjohra on sale Atarboasith window coin, except for some regulatory controls, describing the Central Bank of currency reserves that are hard to (reassuring), denying the existence of any Tathirlmzad currency reserves, calling on the boards of directors of private banks not to Balamuraltnive involve themselves, so do not put themselves under penalty of perjury.

Keywords and said, who was speaking to delegates, "Economy News" on the sidelines of the third Iraqi banking forum, which was held in Beirut for the period from 11-13 of January, he said that "Iraq's reserves Atarmtmin, within our calculations in the light of a review of the International Monetary Fund minute for the coming years."

"The Reserve Aigas number absolute but within Almaaarata to be Bakdrahjm local currency traded Awaktrmenha, bringing the reserve dollar still Bmekdarmenasp of efficiency and size," adding that "the size of the reserve Itagariomia according Maystlmh Central Bank of Dolarmen the Ministry of Finance, and Maaabieh of Dolarmen through currency window, saying he does not have an exact figure because Mngergirthapt reserve. "

Responding to a question about accusations that some directed by the Central Bank Btafrath reserve Iraq of currencies that are hard, the governor said: "This speech reflects the lack of briefing and understanding of the process of selling Ataralta is normal in all countries of the world, where the swap trillions of dollars held annually in buying and selling operations in markets, pointing out that the situation in Iraq Aktherodouha from those countries because of the necessities to sell Atarmen by the central bank because Msdratar one is government by the central bank through the process of selling it to get Aldenarabraghi of the market. "

And he saw the governor that the alternative to selling window Atarmen by the central bank, saying the central bank stopped Auahjammeh for selling the dollar, will lead to Anhiarraldenaralaraca, the higher dollar exchange tremendously price, pointing out that there are central banks in the countries of the world to Ateljo to sell Atarbesbb owning these countries revenues from Atarforeig as part of their governments, making these banks and the market in general that feed themselves themselves through exports, investments and transfers of Foreign Affairs.

Responding to a question regarding the changes that have taken place or those will occur in the future to sell the currency window stressed Keywords, the absence of any material changes with the exception of a review process from time to time and the other banks involved in the window to determine the share of each bank according Amaaillertalq the extent of its commitment to the rules and procedures of trust operations and their validity.

And about the central bank's position on the contrast and the contradiction between the laws and regulations that the private banking business control in Iraq, said the governor that the central bank promising evidence dubbed (Governance Manual) to act as a mentor for the banks determine the exact functions and responsibilities of each of the boards of directors of banks and executive departments, noting that this handbook, subjected to an extensive study by a specialist consultant, promising an office in the light of the experiences of other countries, is now in press and will be distributed to all banks shortly.

He gave the governor the blame on some of the boards of directors of private banks due to involve themselves in the implementation functions, giving the impression of a different nature of its functions, which ranks them responsibilities, stressing the importance of the separation of departments of banks and between owners.

Turning the central bank governor to Alavcarelta raised during the side events held Iraqi private banks on the sidelines of the third Iraqi banking forum in Beirut, describing this Alavcarpalasasah explaining that the central bank pays for the contribution of the banks that have the opportunities and great potential in the areas of economic development in the country, he said " we have ideas for loans shared a common, financing Aoacamh investment fund, banks contribute to it, and is allocated to finance public utility investment projects, such as the establishment of railway lines serve multiple purposes and have a significant role in the economic development process. in response to a question on Altdaperalta taken by the Central Bank to re-deposits private banks retained by the Kurdistan region, between the governor that the central bank held intensive contacts with the provincial government to find solutions to this issue, which he said are creating huge interest by the central bank, and the relay Bastmrarma the provincial government to find certain solutions in the coming period, noting that the Central Bank Avkarhol perceptions and find a solution to this issue Nntzerrd province it. "


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