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Central Bank faces second storm .. A major demonstration of exchange companies looming

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Central Bank faces second storm .. A major demonstration of exchange companies looming

Post by claud39 on Tue Jan 08, 2019 8:08 pm


Central Bank faces second storm .. A major demonstration of exchange companies looming

08-01-2019 12:18 PM 

Agency of the orbit -
BAGHDAD (Reuters) - 

Hundreds of exchange-rate owners and employees are set to launch a major demonstration on Thursday (January 24) to demand a change in the central bank's policies that they see as unfair and weaken their role in the local economy. 

The owners of these companies attributed the reasons for their exit at the main gate of the Central Bank of Iraq to several things, including: 

- Adopting a systematic policy of hostility against the private sector represented by exchange companies rather than sponsoring and supporting it, as is the case in other countries of the world. 

- Dealing with disrespect and retaliation instead of practicing correction and reform. This has been reflected in the behavior of the staff of the committees in dealing with the owners of exchange companies by police methods and inspecting mobile phones, underwear, bags, etc.

- The imposition of wages and illegal fees on companies that did not exist in the past punish the company in case of non-payment. 

- Replacement of experienced, competent and former staff with no experience, and are only able to execute orders from their position in these positions. 

- The imposition of severe penalties such as the cancellation of companies, the withdrawal of leave or suspension for a long time, or the imposition of fines without a right, or to give a weak chance of defense so that the opponent is the referee. 

- Reduce the share allocated to exchange companies gradually from $ 300 thousand to $ 70 thousand. 

- Failure to implement promises and procrastination in the issuance of any decision to improve difficult situations, or to address them.

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