Diaa Al-Taie, a representative of exchange companies, said today, Friday, that the Central Bank of Iraq’s choice of a foreign company to audit transfers shows that the administration hasn’t done its job of supervision and oversight.
“The failure of the Central Bank’s management to exercise its supervisory and oversight role and entrust it to a foreign company is evidence of the failure of the Central Bank’s management to exercise its supervisory and oversight role,” Al-Taie stated. “The presence of the foreign company is evidence of the loss of confidence of international institutions in the Central Bank and its current management,” the responsible source who spoke about selecting the company said. Instead, they used an unspecified word, “which is soon.”
Al-Taie made the observation that “the Central Bank’s management has clearly surrendered to the gap between the official and parallel rates and has begun to look for a slight reduction in the gap, forgetting that the official rate is 1320 and that any increase exceeding 1-2 percent is a continuation of the state of failure.” Al-Taie was referring to the fact that “the gap between the official and parallel rates” exists.
According to an informed government source, the “Jarida” platform learned on Wednesday that a company was selected to audit transfers for foreign currencies other than the dollar.
“The exchange rate situation is improving and becoming stable, especially after choosing a company to audit transfers for foreign currencies other than the dollar, and work on transfers of those currencies will resume very soon, in addition to organizing and controlling the sale of cash dollars exclusively through airports,” stated the source, who refused to reveal his name to “Al Jarida.”
