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FRANK: "I TOLD YOU SO!!!"..............F26
Iraq.. Expectations of a decline in the dollar difference and a return to the official rate
3/2/2024
The economic expert, Safwan Qusay, expected today, Saturday, a decline in the dollar difference in Iraq and a return to the official rate after a series of financial and economic measures taken by the government of Muhammad Shiaa Al-Sudani .
Safwan said {to Al-Furat News} that: “The mechanisms of the Central Bank previously did not know who was requesting the dollar from the informal market, and after the legalization of the financial transfer process, the demand for the dollar in the informal market began to enter the electronic platform.”
He added, "Gradually, with the control of border crossings and the facilitation of ordering, I believe that the difference will recede and return to the official price."
Qusay added, “The Central Bank is now investing in spreading financial inclusion and investment by Iraqi banks and spreading (POS) at the sector and private levels,” stressing that “all government units are currently required to issue credit cards and that purchasing committees purchase from economic units that have (POS).”
He explained, "Controlling the movement of the dinar and knowing where it comes from and where it moves will help in commercial regulation and enhance the level of international investor confidence in financial procedures. We also have the file of money laundering and terrorist financing, and currently with the expansion of the circle of financial inclusion, we will be able to know where the dinar goes."
He concluded by saying, "There are 70 trillion Iraqi dinars outside the banking system, and when they enter this system, it will turn into a productive dinar, which is what the Sudanese government is seeking to achieve."
According to its sales schedule, the Central Bank of Iraq set the cash selling price (1305) dinars per dollar.
Wafaa Al-Fatlawi
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