Establishment of the “Iraqi Money Changers Syndicate” in Baghdad.. and Al-Taie as its President, 24 OCT

Establishment of the “Iraqi Money Changers Syndicate” in Baghdad.. and Al-Taie as its President

The establishment of the “Iraqi Money Changers Syndicate” and the election of Diaa Al-Taie as its president were announced today, Wednesday, in a move that is the first of its kind in Iraq. The purpose of this move was to end the injustice that was perpetrated against the owners of money exchange offices and businesses and protect the rights of those owners.

The “dinaropinions.com” platform attended the union’s founding conference at the “Mansour Melia” Hotel in central Baghdad. The event was attended by a number of parliamentarians, including Hassan Al-Khafaji, head of the Parliament’s Investment Committee, and Hussein Mounes, member of the Finance Committee, in addition to businesspeople.

Diaa Al-Taie was elected head of the Iraqi Money Changers Syndicate in front of all present in a transparent and fair manner. This is the first of its kind to bring together the majority of companies and money changers into a syndicate to present ideas, communicate with one another, and clarify their positions with the Iraqi government.

Al-Taie emphasized that the establishment step had been studied for some time, and that with the establishment of the “Iraqi Money Changers Syndicate,” this concept has matured and crystallized.

In a speech they gave at the conference, the attending representatives, most notably Hassan Al-Khafaji and Hussein Mounes, said that the parliamentary committees support this legal regulatory path. They also said that this step is important for direct legal communication with the Central Bank of Iraq, Iraqi banks, and those who are concerned from exchange companies to deal with each other about the local market.

The representatives pledged to support and communicate this concept, which will open up numerous avenues of communication between the Iraqi government and the private sector, which includes exchange companies represented by the “Iraqi Exchange Union.”