Al-Atwani: Exchange rate stability is a central issue for the state, 6 AUGUST

 The head of the Finance Committee in the House of Representatives, Atwan Al-Atwani, confirmed on Sunday that the stability of the exchange rate is a central issue for the state, while he pointed out that the housing initiative achieved positive results.

The media office of the head of the Finance Committee in the House of Representatives stated in a statement, which was reviewed by "Al-Eqtisad News", that "Al-Atwani chaired the committee meeting that hosted the Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, to ​​discuss the monetary policy file in the country."

He added that "the meeting reviewed a number of issues, most notably the issue of the electronic platform and the procedures related to it in order to facilitate work and economic stability, in addition to the issue of banks and the mechanism for developing the money transfer process."

He continued that "the meeting witnessed important interventions by committee members on banks' initiatives to provide real estate and housing loans, and ways to facilitate procedures and ease conditions for citizens in the process of applying for housing units in complexes."

Al-Atwani stressed, according to the statement, that "the widening gap between the official price of selling the dollar and the parallel market price creates a state of economic and financial instability," stressing that "the stability of the exchange rate is a central issue for the state."

The head of the Finance Commi ttee noted that "there is a duality in the issue of imposing US sanctions between Iraqi banks and correspondent banks, which requires the Central Bank of Iraq to move effectively and address this crisis, in addition to tightening control over the work of private banks, in a way that ensures the integrity of all their procedures and work."

Al-Atwani added that "the housing initiative has achieved positive results, and therefore we are pushing towards supporting and continuing it in order to expand the list of those covered by housing loans, and contribute to resolving this crisis."

He continued that "the stability of the monetary market has a direct impact on the general financial situation," adding that "the labor market is unstable in terms of selling currency, which casts a shadow over the general monetary situation."  link