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MP Al-Darraji calls for the Central Bank to adopt a real rate of the Iraqi dinar

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  MP Al-Darraji calls for the Central Bank to adopt a real rate of the Iraqi dinar Empty MP Al-Darraji calls for the Central Bank to adopt a real rate of the Iraqi dinar

Post by Ponee Sun Nov 29, 2020 9:38 pm

 MP Al-Darraji calls for the Central Bank to adopt a real rate of the Iraqi dinar

2020-11-25


MP Al-Darraji calls for the Central Bank to adopt a real rate of the Iraqi dinarRepresentative Muhammad Sahib Al-Darraji called on the Central Bank to adopt the real price of the Iraqi dinar, away from the prices offered in the currency auction.


Al-Darraji said in a tweet on his Twitter page, “The central bank must adopt a real price for the dinar, away from violations of the infamous currency selling window.”
He also called for “disclosing bills and documentary credits provided by banks in exchange for transferring hard currency abroad and checking its credibility.”
Al-Darraji stressed that the bank’s failure to do so is that it “is considered an accomplice in the crime and we will have to resort to legal methods to remedy this defect.”


The window of selling the currency in the central bank faces many criticisms, while leaks stated that a number of banks acquire the amounts that are being traded in the currency auction for the purpose of increasing their profits.




burathanews.com



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BIS is the Bank of International Settlement. They’re the central bank of all central banks. It is the lead bank in the world. Their responsibility is to distribute the currency rates around the world to all the central banks…they work very tightly with the IMF and the World Bank. They are also involved in investing. I hope you all caught that article from Thursday or Friday highlighting their interest in Iraq. The big question one has to ask is – Why would the BIS be interested in investing in Iraq that is currency under Article 14 because they have not change their currency rate?

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