Legal settles the debate over the possibility of filing a lawsuit against the Central Bank to restore the exchange rate
Page 1 of 1
Legal settles the debate over the possibility of filing a lawsuit against the Central Bank to restore the exchange rate
Admin Sat Feb 13, 2021 5:00 pm
LINK
Legal settles the debate over the possibility of filing a lawsuit against the Central Bank to restore the exchange rate
08:34 - 13/02/2021
The head of the Jurists Union in Diyala, Hussein Al-Taie, resolved, on Saturday, the controversy over the possibility of filing a lawsuit against the Central Bank to restore the dollar’s exchange rate to what it was.
Al-Taie said in a statement to "the information", that “determining the value of the exchange rate for the dollar against the dinar is one of the exclusive powers of the Central Bank of Iraq, as it is responsible for the monetary policy in the country and the law according to its various contents allows it to regulate and determine the exchange rate for economic requirements, whether its decision is correct or wrong, as it is He is the one who bears responsibility and is entitled to be questioned by Parliament, as it is the highest legislative body in the country and has the right to monitor all state institutions, including the financial ones.
Al-Taie added, "It is not possible to file a lawsuit against the Central Bank to return the exchange rate of the dollar to what it was, because determining the price is an exclusive right of the bank, such as the exercise of a ministry or a specialized sector body concerned with its powers, meaning that the matter is related to the exclusive powers and it is the right of the central bank."
He pointed out that “the Iraqi judiciary intervenes through the existence of a case, and the last one must have a legal basis if it does not exist and is missing in the main. How will the judge rule,” noting that “even if it is lifted, the response of the Central Bank or its representative will have exercised its exclusive powers according to the law. He did not violate its provisions.
And the Central Bank had suddenly raised the exchange rate of the US dollar against the Iraqi dinar, without prior warning about a month ago from now, which led to confusion in the markets.
Legal settles the debate over the possibility of filing a lawsuit against the Central Bank to restore the exchange rate
08:34 - 13/02/2021The head of the Jurists Union in Diyala, Hussein Al-Taie, resolved, on Saturday, the controversy over the possibility of filing a lawsuit against the Central Bank to restore the dollar’s exchange rate to what it was.
Al-Taie said in a statement to "the information", that “determining the value of the exchange rate for the dollar against the dinar is one of the exclusive powers of the Central Bank of Iraq, as it is responsible for the monetary policy in the country and the law according to its various contents allows it to regulate and determine the exchange rate for economic requirements, whether its decision is correct or wrong, as it is He is the one who bears responsibility and is entitled to be questioned by Parliament, as it is the highest legislative body in the country and has the right to monitor all state institutions, including the financial ones.
Al-Taie added, "It is not possible to file a lawsuit against the Central Bank to return the exchange rate of the dollar to what it was, because determining the price is an exclusive right of the bank, such as the exercise of a ministry or a specialized sector body concerned with its powers, meaning that the matter is related to the exclusive powers and it is the right of the central bank."
He pointed out that “the Iraqi judiciary intervenes through the existence of a case, and the last one must have a legal basis if it does not exist and is missing in the main. How will the judge rule,” noting that “even if it is lifted, the response of the Central Bank or its representative will have exercised its exclusive powers according to the law. He did not violate its provisions.
And the Central Bank had suddenly raised the exchange rate of the US dollar against the Iraqi dinar, without prior warning about a month ago from now, which led to confusion in the markets.
Admin- Admin
- Posts : 29357
Join date : 2012-04-30
Location : Arizona -
Similar topics» Expert: raise the quota of the dollar exchange rate in the banks means the success of central bank policy and exchange rate stability
» Central eliminates amounts of foreign currency ceilings for the purposes of conversion
» Legal: the possibility of amending the Central Bank Law and borrow from it to cover the deficit
» Relationship: Exchange rate stability is a central objective of the central bank
» Central Bank confirms that the policy reduced the difference between the exchange rate within and outside the Bank
» Central eliminates amounts of foreign currency ceilings for the purposes of conversion
» Legal: the possibility of amending the Central Bank Law and borrow from it to cover the deficit
» Relationship: Exchange rate stability is a central objective of the central bank
» Central Bank confirms that the policy reduced the difference between the exchange rate within and outside the Bank
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|