The Sudanese is not satisfied with the policy of the Central Bank.. Will he relieve his governor?, 6 NOV

 The Sudanese is not satisfied with the policy of the Central Bank.. Will he relieve his governor?

It has been confirmed by researcher and writer Halim Salman that there will not be a change in the current governor of the Central Bank, Ali Al-Alaq, at this time. However, there are ongoing discussions regarding the reform of banking, financial, and monetary institutions. Salman has advised the government to work with the Central Bank to find a solution by implementing corrective measures, such as relieving failed departments within the bank.

Salman informed Jarida that the media is currently abuzz with news about the possibility of replacing the current governor of the Central Bank, Ali Al-Alaq, with another individual from a list of names that have recently been circulated.

During a recent interview, it was mentioned that there are ongoing discussions about reforming the banking, financial, and monetary institutions in Iraq. The interviewee also stated that there is currently no intention to replace the Central Bank governor, Muhammad al-Sudani.

The Prime Minister formed several teams to oversee financial and banking reforms. This indicates dissatisfaction with the current central bank policy and a belief that measures and reforms, particularly those related to exchange rate stability, are being implemented slowly. He added that these teams are tasked with supervising and following up on these issues.

He highlighted that the ongoing conflict in Gaza might have diverted attention from the urgent need to put an end to the corruption of the parallel currency market, which allows currency traders and dollar speculators to exploit the situation. He also pointed out that some employees in official and private institutions are partners in this illicit activity.

During his speech, he suggested that the government should work with the Central Bank to find a solution. He also stated that there must be corrective measures taken, including relieving some of the departments that failed to operate according to the government’s proposed rescue measures. Specifically, he pointed out the Prime Minister as the person responsible for these measures.