Central Bank discusses Increasing the Value of the Iraqi Dinar

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Central Bank discusses Increasing the Value of the Iraqi Dinar

On Thursday, Iraq’s Finance Committee, led by Atwan Al-Atwani, met with its members and the Governor of the Central Bank of Iraq (CBI), Ali Al-Alaq, to discuss monetary policy, the banking system, and strategies for increasing the value of the Iraqi dinar.

Al-Atwani emphasized the significance of monitoring the economic situation and monetary policy using oversight principles. He emphasized the need of finding acceptable answers to the challenges affecting the Central Bank’s operations.

The Committee stated a willingness to work with the Central Bank to increase the value of the Iraqi dinar, stabilize the market, reduce the burden on residents, and resolve deficits.

The Central Bank Governor examined economic and monetary issues, highlighting the need for fundamental laws to oversee transfers and assess cash transactions. He praised the Finance Committee’s efforts to monitor the country’s financial and economic developments.

The Committee discussed with the Central Bank Governor the adopted international standards, future plans to improve banking institutions, opportunities for expanding relations with international banks, restructuring the banking sector, transitioning to electronic payments, and the possibility of amending the Central Bank law.