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Association of Banks: The Central Bank is able to restore stability in the dollar DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

Association of Banks: The Central Bank is able to restore stability in the dollar

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Association of Banks: The Central Bank is able to restore stability in the dollar Empty Association of Banks: The Central Bank is able to restore stability in the dollar

Post by claud39 on Tue Dec 15, 2020 6:50 pm

[size=36][rtl]Association of Banks: The Central Bank is able to restore stability in the dollar[/rtl][/size]




Monday 14th December 2020






Association of Banks: The Central Bank is able to restore stability in the dollar Alsabaah-58427




Baghdad: Conscious 


 
The Association of Private Banks announced, yesterday, Sunday, work on two axes to support various segments of society, while it indicated that negative statements about the depreciation of the Iraqi dinar contributed to the rise in the exchange rate of the dollar.



The executive director of the Association of Private Banks, Ali Tariq, told the Iraqi News Agency (INA): “The association is currently working on two axes, the first is the support provided through the Empowerment of Community Initiatives Fund, which is supervised by the Central Bank and the Association of Banks, and the other axis is related to banking, as The Iraqi Central Bank has greatly facilitated the issue of financing small and medium enterprises through banks, as there are more than 35 banks participating in this
 The initiative".

Regarding the rise in currency exchange rates, the Executive Director explained, "The exchange rates of the dollar are subject to the issue of supply and demand. Very negative statements about reducing the value of the Iraqi dinar in the coming period have pushed merchants and dealers to convert their money into hard currency." He pointed out that «the Central Bank of Iraq has its tools to manage monetary policy». It is expected that "the central bank, during the coming period, will be able to absorb this crisis and restore prices to normal."





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