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Iraqi Finance emphasizes the solution of most problems with the Central Bank

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Iraqi Finance emphasizes the solution of most problems with the Central Bank

Post  Shilo on Thu Sep 16, 2010 7:58 pm

Iraqi Finance emphasizes the solution of most problems with the Central Bank
September 16, 2010

Baghdad, 16 September (Akaniwz)
- The Iraqi Finance Ministry today, Thursday, for removing most of the problems with the Central Bank of Iraq, especially after he baptized the latter to reduce the fiscal surplus reserve of 20 per cent and 15 per cent.
The adviser said the ministry Zia Alckheon told Kurdistan News (Akaniwz) “The relations between Ministry of Finance and Central Bank of Iraq is much better for the last period due to the reduction of the financial reserve from 20% to 15%, which was advocated by the ministry for a long time.”
He explained that “the ministry following the financial circulation of the Central Bank of Iraq during the past period and felt a positive change in his work greatly,” noting that “his ministry is seeking to unify the Financial Action Task Force between them and the Central Bank of Iraq, especially in trading foreign financial and deal with international banks.”
Alckheon stressed that “there are special efforts to overcome the obstacles facing the development of financial work in the country.”
Established by the CBI, which is located its headquarters in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, a bank under the law of an independent Iraqi Central Bank of Iraq issued on the sixth of March 2004.
And the World Bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.

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