Reassuring citizens.. Central Bank of / Nina /: We have a large cash liquidity
Baghdad / Nina / The Central Bank of Iraq reassured the banking and community communities to ensure the availability of cash liquidity to cover all local transactions in Iraqi dinars.
The Governor of the Central Bank, Ali Al-Alak, said in a statement to the Iraqi National News Agency / Nina / that “the Central Bank is the last entity that can be without cash liquidity in Iraq.”
He explained that “the central bank has a wide scope in providing the local currency by the extent that this currency covers foreign reserves, which currently exceed the level of local efficiency, and more than we can finance.”
He added, “There is a frequent confusion between the status of the Central Bank, a case completely different from the financial situation related to the financial policy in the country or the Ministry of Finance,” noting that “the revenues of the Ministry of Finance depend in dollars through Iraqi oil sales in the world market.”
Al-Alak stressed that “the Central Bank deals with the Iraqi dinar for all the amounts it receives in dollars, and this is available very much under any circumstances,” calling for distinguishing and separating the financial situation at the level of the government and the Ministry of Finance, and the availability of cash at the Central Bank of Iraq. /Finished5
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