How Did The Central Bank’s Strategic Plan Control The Dollar Price?
Banks Economy News – Baghdad The Prime Minister’s financial advisor, Mazhar Mohammed Saleh, confirmed on Sunday that the strategic plan adopted by the Central Bank, in cooperation with banks, focused on controlling the buying and selling of dollars outside official channels.
This was achieved by accommodating foreign trade requirements and meeting demand through open and correspondent accounts. This contributed to a decline in demand for dollars in the parallel market.
Saleh explained that “the narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy.”
He added, “This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law.”
He noted that “these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities.”
Regarding the operational aspect of the Central Bank’s strategy, Saleh noted that “supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards.”
He emphasized that “the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness.”
Regarding monetary policy and enhancing confidence in the banking system, he stated that “the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels.
This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar.”
He continued, “These measures are pivotal within the Central Bank’s strategy to reform the financial and banking system,” stressing that “the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system.” https://economy-news.net/content.php?id=55350
After The Dollar’s Decline Against The Dinar, The Government Announces The Central Bank’s Success In Establishing An Electronic Monitoring System To Track Transfers
Buratha News Agency1372025-05-11 The Prime Minister’s financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar’s decline against the dinar in Iraqi markets.
“The narrowing gap between the official exchange rate and the parallel (black) market exchange rate is one of the most prominent indicators of the success of the strategic approach to controlling the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy,” Saleh told the official agency.
He added, “This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in improving the business environment and attracting local and foreign investments, particularly those operating under the Investment Law.”
He noted that “these measures also contribute to strengthening financial and banking governance by supporting transparency and restricting cash transactions to official channels, which helps combat money laundering, terrorist financing, and illegal financial activities.”
Regarding the operational aspect of the Central Bank’s strategy, Saleh noted that “supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards.”
He emphasized that “the Central Bank has succeeded in establishing an electronic monitoring system to track transfers and banking operations in foreign currency. This system has passed multiple testing stages and proven its effectiveness.”
Regarding monetary policy and enhancing confidence in the banking system, he stated that “the strategy adopted has contributed to reducing annual inflation rates by limiting exchange rate fluctuations in the parallel market and providing foreign currency through official channels. This has helped boost confidence in banks and reduce reliance on the informal market, thus gradually supporting the value of the dinar.”
He continued, “These measures are pivotal within the Central Bank’s strategy to reform the financial and banking system,” stressing that “the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to strengthening governance and compliance to ensure transparency, integrity, and effectiveness in the financial system.” https://burathanews.com/arabic/economic/459997
A Government Advisor Reveals The Reason For The Dollar’s Decline Against The Dinar.
Economy 2025-05-11 | 08:49 5,764 views The Prime Minister‘s financial advisor, Mazhar Mohammed Salih, revealed on Sunday the reason for the dollar‘s decline against the dinar in Iraqi markets.
official exchange rate and the exchange rate in the
“The shrinking gap between the parallel (black) market is one of the most prominent indicators of the success of the strategic directions to control the currency market outside official channels, which has had a positive impact on economic stability and the interconnectedness of the Iraqi economy,”
Saleh said in an interview with the official agency, followed by Sumaria News.
He added, “This approach has contributed significantly to enhancing the stability of the monetary market, which benefits the strength of the Iraqi dinar and represents a key factor in
improving the business environment and
attracting local and foreign investments,
particularly those operating under the Investment Law.”
He noted that “these measures also contribute to strengthening financial and banking governance
by supporting transparency and restricting cash transactions to official channels,
which helps combat money laundering, terrorist financing, and illegal financial activities.”
Regarding the operational aspect of the Central Bank‘s strategy, Saleh noted that supporting commercial and investment banks and linking them to the SWIFT system and international correspondents represents a fundamental step towards enhancing compliance with international standards.”
He emphasized that “the Central Bank has succeeded in establishing an electronic monitoring system
to track transfers and banking operations in foreign currency.
This system has passed multiple testing stages and proven its effectiveness.”
Regarding monetary policy and enhancing confidence in the banking system, he stated that
“the strategy adopted has contributed to reducing annual inflation rates by
limiting exchange rate fluctuations in the parallel market and
providing foreign currency through official channels.
This has helped boost confidence in banks and reduce reliance on the informal market, thus
gradually supporting the value of the dinar.”
He continued, “These measures are pivotal within the Central Bank‘s strategy to reform the financial and banking system,” stressing that “the continued success of this process requires sustained cooperation and commitment between the Central Bank and national banks, particularly with regard to
strengthening governance and compliance to
ensure transparency, integrity, and effectiveness in the financial system.”
https://www.alsumaria.tv/news/economy/525851/مستشار-حكومي-يكشف-سبب-تراجع-الدولار-أمام-الدينار
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