##### Procedures to maintain the value of the dinar

Monday, May 13 / May 2013 - 04:02

Chairman of the parliamentary Finance Committee Haider Abadi

Baghdad: Alaa al-Tai (morning) - proceeded to the CBI measures Links to reduce the fluctuation of the currency, and the province of the dinar on its value against the dollar. Coincides these measures with the reassurance of the Finance Committee parliamentary citizens about Iraq's possession of up cash great deal of hard currency Ihsnh from any repercussions of a surprise.

The chairman of the parliamentary Finance Committee Haider al-Abadi told For "Center Brief for the Iraqi Media Network," on Sunday, for the development of "procedures for citizens to obtain the currency from private banks and the government, including the conversion to be up to traveling or treatment, as it can obtain the required currency conversion official."

He also noted the President of the parliamentary Finance Committee to receive reassuring messages from officials at the central bank to control the issue of volatility in the exchange rate, as well as their emphasis on the lack of seriousness on the dinar and the presence of a mass of large cash.

He pointed out that bank officials "have expressed great confidence in the power of the central bank, what attributes of the cash reserves of hard currency is estimated at $ 74 billion," pointing out that "the problem is limited to the difference between supply and demand in the Iraqi market for the dollar."

He noted the action proper Adopted by the Central Bank of the adoption of increased remittances instead of cash or bank guarantees and encouragement to grant transfers with no restrictions or limits to the banks, because traders often need to remittances and banking guarantees and do not need to cash, "stressing at the same time that" this measure documenting currency trading is the safest.

"For his part, briefed Governor of the Central Bank of the committee members at a meeting held yesterday in Parliament in the presence of First Deputy Speaker of Parliament Qusay al-Suhail, on the actions carried out by the bank and the instructions issued during the last term, and that everything is under control.

The central bank governor said he is not worried of this volatility at the present time, believing it "very temporarily" as a result of some action taken by the Bank, including owns the supervisory role of private banks and government.


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