Shabibi/dinar: a slight decline in demand for the dollar

[alan_coaks_3]

5 - 12 - 2012

Baghdad/JD/...The Iraqi Central Bank revealed a slight decline in the demand for hard currency. Bank Governor Sinan Al-Shabibi l/JD/"demand to buy hard currency dropped slightly after taking new measures to reduce the volatility of the dollar against the Iraqi dinar". Shabibi said "the Bank launched the currency freely available to dealers as controls." Central Bank Governor said that "the new procedures through which the Bank tries to prevent money laundering." The parliamentary Finance Committee had earlier confirmed that the Central Bank put restrictions on the sale of hard currency and require that the buyer has to dollar bank account and leave the import and trade lists in addition to the tax accounting. She is a member of the Committee and MP for the Liberal block for/JD Majida Al-Tamimi said "a meeting today of the Finance Committee with the Governor of the Central Bank and some representatives from the World Bank at the causes of the high rate of the dollar against the Iraqi dinar". Tamimi said "that the Central Bank under tight controls on the sale of hard currency in the Iraqi banks is that have submitted on purchase quantity of dollars leave import and bank account as trade lists and subject to tax account", stating "because of limitations on dollar buyers to control currency exchange rate of the Iraqi dinar in the market." Tamimi blamed the Central Bank for such asylum restrictions due to the instability of the dollar against the dinar, which had a negative impact on the work of the Bank. According to the parliamentary Finance Committee member and MP for the Liberal block "that the Central Bank put these restrictions to reduce width for the dollar,".

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