FRANK26: "BLACK MARKET IS DEAD... SUDANI PREPARES THE NEXT STEP OF THE MONETARY REFORM", 11 JAN

 KTFA

FRANK26: "BLACK MARKET IS DEAD... SUDANI PREPARES THE NEXT STEP OF THE MONETARY REFORM"..........F26

Central Bank Governor: There is no financial problem threatening employees’ salaries

1/8/2025

 Baghdad
 

The Governor of the Central Bank, Ali Al-Alaq, confirmed today, Wednesday, that there is no financial problem threatening employees’ salaries, while he indicated that dollar smuggling operations have been reduced.

Al-Alaq said in an interview with the Iraqi News Agency, followed by "Al-Eqtisad News", that "there is no financial problem threatening employees' salaries, and we have great capabilities and resources," noting that "the Central Bank's reserves are high and capable of covering the demand for the dollar." He
added that "the Federal Bank praised Iraq's measures regarding foreign transfers," indicating that "the mechanism
of granting the dollar to the traveler ensured that it reaches the beneficiary exclusively."

He continued: "The parallel exchange rate is no longer an indicative price, and our reserves are fortified and the Central Bank enjoys
independence," stressing that "electronic payment is witnessing development and we have the best global systems of infrastructure."
He pointed out that "we launched a project to establish a national company for electronic payment and it has reached advanced stages," adding that "the commissions at the outlets are not licensed by the Central Bank and we are working to close them and transfer them to exchange companies."

He added that "incoming transfers are subject to the decision to limit dealing in dinars, and we allowed banks to import dollars and we were able to limit smuggling operations."

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