TRADE BANK OF IRAQ ANNOUNCES MEASURES TO SUPPORT EXCHANGE RATE STABILITY
The Trade Bank of Iraq (TBI) announced today, Wednesday, that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.
The Director of the Tahrir Branch at the Iraqi Bank, Yarub Al-Hashemi, told the Iraqi News Agency (INA): “The bank’s management has taken a series of measures to stabilize the exchange rate and prevent manipulation in the market, including increasing working hours in the bank’s branches, which has had an impact on the speed of completing merchants’ transactions, the smoothness of financial transfers, and eliminating the momentum in this regard.”
He added, “There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively.”
Prime Minister Mohammed Shia Al-Sudani directed “intensifying inspection procedures in financial transfer operations and not being lenient or lenient in pursuing speculators who exploit the crises the region is going through; to achieve personal profits and benefits at the expense of the public interest of the country.”
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