Flotation bank solution to the crisis of Iraqi funds

[dinareffic]

Flotation bank solution to the crisis of Iraqi funds

Written by Economic news editor Date: May 17, 2017

Reports issued by some of the financial and monetary institutions locally and internationally discreet signals that the hard currency reserves in Iraq fell to $ 40 billion only !! In the first quarter of 2017 after it was at the beginning of 2014 more than $ 88 billion.
This indicator needs to pause a serious and deep research to diagnose the defect and find quick solutions before entering the Iraqi economy in the arena of a new monetary crisis , knowing that the government 's secretive on this economic news.
In this regard I suggest money experts and economists to form a crisis cell to discuss solutions
and there are a number of solutions for the depletion of hard currency , including: -
1 floating currency which is a very difficult choice to apply in Iraq now.
2. cancel the auction currency (major disaster).
3. The re - activation of control over the financial transfer circuit.
4. border control and prevent the smuggling organization through the activation of the customs tariff law.
5. Adoption of documentary credits in import operations instead of selling the currency traders.
6. The restructuring of loss - making companies in the industrial sector and privatization. And take advantage of the hard currency resulting from the privatization.
7. attempt to decode the progressive link between the Iraqi dinar and the dollar and linked to the national currency to a basket of currencies , and this procedure needs to be a political decision and the will of the national
and other solutions and plans but you need to correct a serious and work through the formation of a crisis cell to discuss the matter diagnosis.
The appearance of Mohammed Saleh Financial Advisor to the Prime Minister has proposed the establishment of a bank to finance the private sector trade contribution of all commercial banks (government and private) and specializes in the function of opening letters of credit syndicated bank to finance the foreign trade of the private sector along the lines of the Iraqi Trade Bank , which is financed by government imports through the opening credits documentary.
He pointed out that the Central Bank of Iraq supports the proposal as well as the Ministry of Commerce and the Ministry of Planning, to impose a state of Anzbat in the disposition of foreign operations / wholesale currency, with the availability of a strategic partner in the management and a global bank credit rating high level,
adding , "forming the bank leave from the Central Bank and the Ministry of Commerce as a contribution to international banking practice and in accordance with the high foundations of governance , the separation of management from ownership and management of an independent board. Hoping that work on the formation of this international banking regulatory high - level entity.

http://neniraq.com/econews-141/

[DinarDavo]

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[jeepguy]

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As soon as I find number 8 

[Officiallytook]

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[10 YEARS LATER]

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