Exchange rate stability and real banking work

Samir Nusairi

A new decision was issued by the Central Bank of Iraq to allow banks with capital of less than 250 billion dinars to participate in the window selling the currency and increase the weekly share of the dollar to banks, which will contribute to increase the supply of the dollar in the circulation of foreign currency in order to maintain the stability of the exchange rate and overcome and meet some pessimistic expectations Which is speculated by speculators that the dollar exchange rate will rise during the elections or cause the circumstances of the US escalation against Iran and for the purpose of assigning the decisions of the Central Bank requires Iraqi banks and branches of foreign banks to go to banking right The project aims to support the development of the banking sector in accordance with the directives of the last governor at the meeting.

 The last monthly league of banking leaders and meeting with banks participating in the recent banking conference in Istanbul and stressing the sovereignty of the stability of the exchange rate and recovery of the Iraqi dinar and this goal will remain one of the most P central bank core, which requires banks sooner or later leave the total dependence on the sale of foreign currency window and it's time to move to the practice of real banking business, which is to provide modern banking products to the public and provide better services to customers and to increase by now ratio of financial inclusion.

 And that the banking sector has a key role and important in the development and revitalization of the economic cycle and pointed out that the stability of the exchange rate should not make banks fear for their future in the banking market.

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