Omar Al-Halbousi, a researcher in economics, said on Tuesday that forming a union for Iraqi money changers is a significant step toward unifying the efforts of workers in this industry and will result in a positive shift in their work.
“It is known that establishing a union for Iraqi money changers is an advanced step in the field of unifying the efforts of those working in this profession to be an umbrella for them to defend them and organize relations with all parties, as well as defending companies, especially after a period that witnessed incitement operations against solid money exchange companies, the result of which was the restriction of money exchange companies and the arrest of some of them,” Al-Halbousi stated in an interview with dinaropinions.com
He continued, “This step will have a positive impact on exchange companies in organizing their efforts and raising their level of sobriety through exchanging experiences and consultations under this union, in addition to the official defender of exchange companies at a time when we need to return sober exchange companies to work in Kurdistan and other regions to contribute to providing the dollar to the people of these regions and reducing the exchange rate.”
“This step also comes with distinguished efforts from those in charge, which will bring about a positive shift in the field of money changers’ work,” he continued, “I expect to contribute more effectively to the financial field in terms of organization, management, exchange rate stability, and raising the level of money changers’ integrity.”
Diaa Al-Taie was elected president of the “Iraqi Money Changers Syndicate” on Wednesday. This is the first of its kind in Iraq to end the injustice against the owners of money exchange offices and businesses and protect their rights.
A number of parliamentarians, including the head of the Parliament’s Investment Committee, Hassan Al-Khafaji, and a member of the Finance Committee, Hussein Mounes, in addition to businessmen, attended the union’s founding conference at the Mansour Melia Hotel in central Baghdad. The “Jarida” platform was present at the event.
Diaa Al-Taie was elected head of the Iraqi Money Changers Syndicate in front of all present in a transparent and fair manner. This is the first of its kind to bring together the majority of companies and money changers into a syndicate to present ideas, communicate with one another, and clarify their positions with the Iraqi government.
Al-Taie emphasized that the establishment step had been studied for some time, and that with the establishment of the “Iraqi Money Changers Syndicate,” this concept has matured and crystallized.
In a speech they gave at the conference, the attending representatives, most notably Hassan Al-Khafaji and Hussein Mounes, said that the parliamentary committees support this legal regulatory path. They also said that this step is important for direct legal communication with the Central Bank of Iraq, Iraqi banks, and those who are concerned from exchange companies to deal with each other about the local market.
The representatives pledged to support and communicate this concept, which will open up numerous avenues of communication between the Iraqi government and the private sector, which includes exchange companies represented by the “Iraqi Exchange Union.”
