IRAQ OPENS ITS DOORS TO INDIA TO SOLVE THE DOLLAR CRISIS.. AND AN EXPERT ASKS A QUESTION TO THE CENTRAL BANK, 13 SEPT

 IRAQ OPENS ITS DOORS TO INDIA TO SOLVE THE DOLLAR CRISIS.. AND AN EXPERT ASKS A QUESTION TO THE CENTRAL BANK

{Economic: Al Furat News} The financial expert, former director of financial control, Salah Nuri, revealed today, Tuesday, a financial agreement with India to facilitate foreign transfers of dollars.

Nuri told Al-Furat News that: “The fears of imposing new sanctions on Iraqi banks are expectations as a result of the changes that took place by the US forces on the Iraqi-Syrian border, but from the official side, the government did not announce the existence of upcoming US sanctions.”

India Agreement

He added, “The Central Bank of Iraq has taken an initiative to facilitate foreign transfers for the purpose of importing the private sector, by concluding a financial agreement with India with the aim of establishing Indian banks as correspondent banks for importing the private sector, which are trusted and sober in the world and the United States of America.”

Nuri promised this step “to expand the network of foreign correspondent banks, and we are awaiting the results of the implementation of this financial agreement.”

Speculators

Nuri explained, “One of the reasons for the rise in dollar prices internally is the speculators.” And he asked a question to the central bank, “From where is the amount of dollars in the parallel market and speculation with it, while the dollar’s offer by the central bank is determined by what it gets from the US federal via the electronic platform?” Nuri added, “This indicates the existence of illegal outlets for obtaining the dollar by speculators.”

Government Decisions

Prime Minister Mohammed Shia Al-Sudani called on the security services concerned with combating and prosecuting economic crimes to work in an integrated and continuous system to pursue speculators, currency smugglers, and evaders from paying customs and taxes.

According to a government statement, Al-Sudani warned during his meeting with officials and representatives of the concerned government and security agencies that “these efforts receive special attention from the government, as they are a pillar of economic reform and the fight against corruption.”

Dollar prices in Baghdad

The price of the dollar against the Iraqi dinar on the main stock exchange in Baghdad, today, Tuesday, was 154,500 Iraqi dinars for sale, while the purchase price was 152,500 dinars for every 100 dollars.

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