Open branches of the Central Bank in Erbil and Sulaymaniyah, "a breach of the Central Bank Law"

February 15, 2014


Babylon / "special"

The chief economic studies expert Raad Twigg, said the opening of branches of the Central Bank in Arbil and Sulaymaniyah is a violation of the Law of the Central Bank and will reflect negatively on monetary policy in Iraq.

Twigg said in a statement followed the "Babel," "The Law of the Central Bank Act, which is an independent body and constitutes a breach confusion of monetary policy in Iraq, especially if the currency and a single monetary issuance and must be controlled by the central bank."

He Twigg, said that "the development of the central bank is to open a branch in the Middle Euphrates region and not in Erbil and Sulaymaniyah."

The central bank opened in 2013 has two branches in Arbil and Sulaymaniyah without thinking about the allocation of a budget for the financial control of the monetary policy in Iraq.


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