Parliamentary economy warns central bank manipulation of reserve

06/11/2014 13:14



BAGHDAD / obelisk: enslaved committee of economy and investment parliamentary Central Bank reserves to invest in hard currency and gold investment projects in the country, warned against tampering with cash reserves being considered to cover the current Iraqi currency.

A member of the Committee MP Ali Mohammed said he "can not be the central bank to take even the direction of investment reserves of money and gold assets, the fact that the cash reserves of hard currency is considered a safe haven for the Iraqi currency, and as a cover them," he said, adding that "the committee will oppose this proposal, if any, because it will affect the Iraqi dinar exchange rate. "

He added: "The CBI has a select group of financial professionals and experts in monetary affairs can not take even him that this was an important step," pointing out that "the central reserves will invest those funds to the loss from operations and increases corruption."

The parliamentary Finance Committee has announced that the size of the central bank's reserves of hard currency has reached more than 74 billion dollars.

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