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FRANK26: "THE NEW EXCHANGE RATE SAYS KEEP YOUR EYES ON ME IRAQI CITIZENS."......F26
Parliamentary Finance: Salaries are secured and there are no concerns about them
2/18/2025
A statement from his office, a copy of which was received by {Euphrates News}, stated that: “This came during the hosting by the Finance Committee, headed by Atwan Al-Atwani and in the presence of its members, today, Tuesday, of the Governor of the Central Bank, Ali Al-Alaq, and the senior staff in the bank, and the directors of Rafidain Bank and the Trade Bank of Iraq.”
He added, "The meeting discussed the country's financial and monetary policy, to identify the successes and failures during the past three years, and to review what has been achieved in this sector. The meeting also reviewed the most prominent challenges facing the financial sector and the banking system, including the dollar exchange rate, and ways to address them so that local banks can play their main role in achieving sustainable development."
The statement continued, “The meeting also discussed the file of foreign transfers and import invoices, and the importance of having an interconnection with customs and taxes, in order to end the gap between the amount of dollars spent on imports and the customs and tax revenues achieved.”
He added, "The file of external sanctions targeting our local banks and their impact on the Iraqi economy was also discussed, as well as monitoring the foreign trade process after the platform was cancelled. Discussions were also held regarding decisions related to obligating citizens to buy and sell real estate through banks, in addition to raising fees for electronic payment cards, and other executive actions that affect citizens."
Al-Atwani stressed that: “The meeting was held to review the financial and monetary policy to diagnose the defect and develop solutions,” noting that “talking about the difficulty of the financial situation does not mean the inability to secure salaries, but rather relates to the government fulfilling its contractual obligations by providing allocations for new and ongoing projects and financing the governorates.”
He said, “The Finance Committee may hold a special session in the House of Representatives to discuss developments in the financial situation,” stressing that “there are no new external sanctions against any Iraqi banks, contrary to what is being circulated in the media.”
Al-Atwani said, “The official’s job is to confront and address the problem, not to complain to the media,” noting that “dollar sales are large and are supposed to generate customs and tax revenues that constitute an essential part of supporting the budget.”
He pointed out that "the Governor of the Central Bank is currently coordinating with the Ministry of Finance regarding the liquidity shortfall and expressed his support for addressing any imbalance and urged executive taking measures to maximize local revenue."
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