Move the central bank away from quotas

Move the central bank away from quotas


December 8, 2019 by Zaid Al-Hilli







Perhaps a few vertical lines this week, some of the ardent recipients angry at the brochures at the expense of the nation's success, seeing them boil in the media through their statements for projection purposes, which led to the formation of popular public opinion among the simple, wrapped in peels, away from the pulp, and I mean here, what is exposed It has the Central Bank of Iraq in the current circumstances, attempts at distortion, despite its proven positive roles, especially in maintaining the Iraqi dinar exchange rate against the dollar, an important achievement that many countries have been unable to achieve against their national currencies, which has contributed to the stability of the local market, Then, we guaranteed people an inflationary distancing from the country Presumably, as happened in neighboring countries, who live in conditions similar to us, where the crisis of the Turkish lira worsened, crossing the barrier of 6 pounds against the dollar, at certain periods, and the Syrian pound spent yesterday 900 against the dollar, and the exchange of Lebanese pounds reached 2000 after 1500. The dollar is now worth 42,105.00 Iranian rials, etc.

As for us, and during the intensity of the protests, the bank noted that the dollar moved a little in some governorates, jumping very slightly on the exchange rate of the Iraqi dinar, so it was due to its prudent staff, to curb this jump at an unusual speed, pumping appropriate amounts of the dollar to the markets, through scientific action It was at dawn, so it ended with the sudden rise in the dollar, which lasted a few hours, and the deal is returned because it has been significantly rationalized, but what is remarkable about the issue is the lack of praise or reference to the role of the central bank on the part of any public official or parliament, but we have noticed the opposite, through skeptical clues, forgetting his achievements.

This is the bank represented by the stable exchange of dinars and the "Tamkeen" initiative which have reached out to many classes of society in coordination with the Association of Iraqi Private Banks, and the exit official of the European Union's sanctions list bank, which has enabled global banking institutions to deal with Iraq and has allocated $ 5 billion to support small, medium and large-scale projects for citizens who wish to establish these projects and elect a governor. The bank is vice president of the Board of Governors of the Arab Monetary Fund, so that Iraq has become an influential site on the Arab financial scene, and it is a good site in this board, and the Central Bank of Iraq is the first in the Middle East to apply self-approval to all users of the o Lift network (the network includes 200 countries) and the first banks in the region to recognize and receive a letter of thanks from the company "Swift", global values ​​are at the heart of efforts to secure the environment for foreign money transfers and compliance with all international standards for foreign money transfers .. and many others.


In this context, does the bank not deserve the supervision and the staff, thanks to the State and to society?

 

The future to which the bank aspires, in addition to its great achievements, needs the moral support of those responsible for the legislative and executive powers and of changes in mentalities and concepts, far from negative preconception and far from quotas, in particular those linked to the concept of responsibility and public action, therefore money and society are not an address. They are separated .. Let the bank and its competent executives walk the path of comfort, calm and stability .. Yes, I say it honestly .. If we tear down the financial vision of the bank, deeply rooted .. We will reap remorse, God forbid.



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