Sudanese adviser reassures Iraqis: No cash problems, 19 JUNE

Sudanese adviser reassures Iraqis: No cash problems

Baghdad – Mil

Prime Minister’s Advisor Madhar Mohammed Saleh confirmed on Monday that Iraq has ranked a distinguished position with international groups that follow the best banking compliance systems, making it safe from any international financial risks, denying the existence of cash problems.

Saleh said, according to the official agency, and followed by “Mil, that “the mechanisms of cash issuance are one of the exclusive competencies of the Central Bank of Iraq because it is the issuing bank based on its Law No. 56 of 2004,” noting that “what is published here and there about problems in cash liquidity is far from the firm institutional basis of the monetary authority in Iraq, which is one of the most important authorities concerned with the issues of availability of cash and the stability of the payment system, which adds the sustainability of the stability of transactions in the national economy.”

He added, “Managing cash, building the cash foundation and controlling the country’s liquidity levels is subject to the principle of a long-term scheme consistent with the achievement of the operational objectives of monetary policy in order to achieve the intermediate goals of stability, sustainable economic growth and the determination of long-term cash flows.”

Saleh indicated that “Iraq has occupied a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks,” pointing out that “Iraq is an essential pillar in regional and international financial cooperation institutions in the scope of combating money laundering, crime and terrorism funds.”

He pointed out that “Iraq recently received a clear positive praise in its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region held in the Kingdom of Bahrain, a certificate from the international financial community confirming the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations.”

https://miliq.news/political/31667–.html