An economic specialist..increasing banks' shares of the dollar increases their profits and does not improve the exchange rate

Saturday 12 June 2021 11:23
 
Baghdad / NINA / - An expert in economic affairs criticized the Central Bank's handling of the exchange rate crisis by raising the share of banks and offices from the dollar, describing it as "circulating the solution."

Durgham Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that "the increase of the central bank's share of the licensed banks and offices from the cash sale of dollars is an increase in the profits of these banks and companies, as they monopolize the dollar and cause a crisis in prices."

He added: "The central bank, instead of opening windows for direct selling without intermediaries for the dollar, increases the shares of those involved in corruption to make more illegal profits from selling more dollars on the black market, taking advantage of the exchange rate difference," stressing:

The economic specialist wondered about the goal of establishing more than 75 private banks, without any credit contribution in any development field, criticizing “the complicity of the executive authority with cash to plunge the country into economic problems that are difficult to solve.” / End 8

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