The Baghdad Chamber of Commerce announces a proposal to get rid of the “parallel market”
The Baghdad Chamber of Commerce announced a proposal to get rid of the “parallel market.”
Firas Al-Hamdani, head of the chamber, said: For the program {Free Speech} broadcast by the Al-Furat satellite channel this evening, it said: “If we turn to the work policy of the Central Bank of Iraq, the Chamber of Commerce is a sponsor of the Baghdad sector of companies and merchants; but we were surprised by the decision to import the US dollar in agreement with some accredited banks.”
He wondered, “Who will organize this process, how can American currency be imported from other countries, and the possibility of benefiting from and working on organizing such an important file?”
Al-Hamdani added, "Imported talk that may be misconceived leads to a fallacy, and we must have a true vision of this concept. The Iraqi dinar does not exist in the Arab or international currency market to buy the dollar, and Iraq does not have a number or name on the list of Arab and foreign currencies."
He pointed out that “it is not possible to import the dollar and secure it in the local market without registering the dinar in the basket of Arab and international currencies.”
Al-Hamdani suggested, "The Prime Minister should direct the Central Bank of Iraq to formulate an economic policy and open documentary credits to all merchants of all categories according to a policy drawn up by the Central Bank in agreement with the Federal Bank to get rid of the parallel price."
Al-Hamdani stressed, “Iraq enjoys a strong economy and the political tremors do not affect its economy, but the Central Bank witnessed a demonstration by affected people who deposited their sums without result, and confidence today is lost.”
He stressed, "the need for the Central Bank and the security authorities to monitor and hold accountable those who trade in the unofficial exchange market, and the government must provide all service means to facilitate the transfer of amounts."
Al-Hamdani added, "The state holds accountable and imprisons traders for a few hundred dollars and leaves the adults. The government must take care to provide services to the Iraqi merchant, who is a strategic partner of the state."
He concluded by saying, "The Central Bank law gives it the authority to provide paper and metal currencies, and the Iraqi merchant needs the dollar in light of the large disparity in prices. It is illogical for him to wait several months to obtain the currency."
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