IMPORTANT CLARIFICATION FROM THE CENTRAL BANK OF IRAQ REGARDING THE DOLLAR
(Here we go again…more of the same bullshit from these money changers. Will they force the new government to force the CBI on going along with their plan to devalue the dinar, so they can make millions more on the dollar via the black market?)
The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed on Tuesday that the exchange rate of the dollar is stable and will not change, noting that the Central Bank does not suffer from any problem with gold and foreign currency reserves, and that they are continuing to inject dollars .
Al-Alaq said in a speech during the launch ceremony of the “E-Psule” electronic receipts project, which was followed by the “Al-Saa” network, that “the most important strategic axes in the path of economic and financial reform is the development of the electronic payment system and the transition towards the digital economy in a way that serves Iraq in general and the Kurdistan Region in particular,” noting that “excessive reliance on cash is no longer consistent with the requirements of the modern economy .”
He added that “building a sophisticated financial system requires secure, fast and transparent electronic systems that contribute to enhancing confidence in the banking sector and supporting financial stability .”
He noted that “recent years have witnessed tangible developments in the electronic payment infrastructure through the expansion of the use of bank cards and electronic wallets, the increase in the number of points of sale in government institutions and commercial markets, as well as the launch of electronic money transfer systems that operate around the clock .”
He explained that “these steps have contributed to facilitating the daily transactions of citizens, reducing time and effort, and improving the efficiency of the financial system,” indicating that “the Central Bank of Iraq is playing a pivotal role in this context by leading the transformation through the development of regulatory frameworks and instructions that ensure the integrity of operations, protect users, support financial innovation, as well as encouraging financial technology companies, promoting financial inclusion, and bringing new segments of society into the banking system .”
Al-Alaq added that “the development of electronic payment in Iraq is not complete without coordination and integration with the efforts in the Kurdistan Region, where we are working with the relevant authorities in the region to unify the systems and technical standards and expand governmental and banking digital services,” noting that “dealing in financial integration is a fundamental pillar for sustainable development.”