Mawazine News – Baghdad
The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, confirmed on Monday that the adoption of an audit company for foreign remittances is an important step to enhance the stability of the dollar and achieve monetary policy goals.
Saleh explained, in a statement to the official agency, that “the approval of an audit company for external transfers will provide additional guarantees for the integrity of compliance processes and the speed of functionality in market transactions, especially external transfers.”
He added that this will enhance the efficiency of the cash market thanks to the clear information it provides, which contributes to the stability of transactions and raising the level of certainty in the market.
Saleh pointed out that this step will achieve two main objectives of monetary policy: the first, to improve the control of local liquidity and control the growth rates of the money supply; and the second, to stabilize the exchange market by strengthening the role of the official market and the superiority of its positive effects on the parallel market.
He added that the two goals are related to the role of monetary policy in stabilizing prices and containing inflationary expectations, which ensures stable real flows through the stability of the external value of money and this corresponds to the stability of the speed of circulation of money internally and the general demand for money in the national economy.
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