CENTRAL BANK GOVERNOR: OPENING EXTERNAL CHANNELS WITH FOREIGN CURRENCIES ELIMINATES THE BLACK MARKET
Central Bank Governor Ali Al-Alaq confirmed on Thursday that opening channels in foreign and Arab currencies achieves stability in the exchange rate and gradually eliminates the black market.
The media advisor of the Trade Bank of Iraq (TBI), Aqeel Al-Shuwaili, said in a statement, which was reviewed by “Al-Eqtisad News”, that “the governor of the Central Bank visited the Trade Bank of Iraq and appreciated the bank’s efforts to expand its customer base of importing merchants and the procedures to facilitate their transactions in a way that contributes to achieving stability in the exchange market
.”
According to the statement, the governor of the Central Bank stressed “the need to make efforts to achieve fluidity and provide the best banking services to the bank’s customers.”
The governor pointed out that “the Central Bank’s continued opening of multiple external channels in foreign and Arab currencies achieves continuous stability in the exchange rate and gradually eliminates the black market.”