Al-Sudani urges selling foreign currency at official prices to citizens

INA-  sources


Prime Minister Mohamed Shia Al-Sudani on Tuesday urged the Central Bank of Iraq CBI to activate steps to sell foreign currency at official prices to citizens, stressing the need to take the necessary measures to prevent illegal speculation and everything that harms the local market and leads to high prices.
 
A statement by the Prime Minister's media Office, received by the Iraqi News Agency (INA), said that "Al- Sudani, met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb Mokhif, where he listened to a detailed presentation on the rise in the foreign exchange rate, and the most important measures taken by the bank in this field."
 
Al-Sudani urged "the Central Bank to achieve general stability of prices and the exchange rate, in accordance with the tasks stipulated in Articles (3 and 4) of the Central Bank of Iraq Law, which stipulate that the Central Bank aims to achieve the stability of the local exchange rate, regulate and monitor the work of banks, enhance the safety and efficiency of payment systems and develop the payment system."
 
He stressed "the need for the bank to take the necessary measures to prevent illegal speculation, and everything that harms the local market and leads to higher prices."
 
 
"Al-Sudani also urged activating steps to sell foreign currency at official prices to citizens by purchasing with electronic cards, opening sales outlets for travelers or those dealing outside Iraq, or financing foreign trade, in accordance with fundamentalist contexts and international standards for opening documentary credits," the statement continued.

The Governor of the CBI presented to the Prime Minister the positive position of the financial situation, stressing that "the crisis over foreign currency is an emergency crisis for technical reasons, and coincided with the work of the new electronic platform and the delay due to the Christmas holidays."

CBI Governor praised "Cabinet Resolution No. 352 of 2022 to suspend the work of pre-collection of taxes and customs on goods entering from government ports and prevent double taxation, and to fulfill them in accordance with the approved contexts at border crossings."