Shafaq News / Iraqi Prime Minister Mohammed Shia directed Sudani on Thursday to form a permanent committee to address “impediments” in the banking sector.
Earlier on Thursday, a government source revealed to Shafaq News a number of directives taken by Prime Minister Mohammed Shia al-Sudani regarding the work of exchange companies after an “important” meeting.
A statement by the Sudanese office and responded to Shafaq News reported that “Prime Minister Mohammed Shia Al-Sudani directed all concerned institutions to abide by working in accordance with the Central Bank of Iraq Law No. 56 of 2004, which indicated that the Central Bank of Iraq is the only body with the authority to take all measures to regulate and control the work of banks and non-bank financial institutions to ensure their compliance.”
The statement pointed out that “the Association of Exchange Companies took the initiative to pledge to work seven days a week to sell foreign currency to citizens at the approved official rate, in accordance with the controls and instructions of the Central Bank.”
“In order to follow up the work of companies and banks, it was decided to form a permanent committee that includes representatives of; the Central Bank, the Office of the Prime Minister, and the Association of Exchange Companies to address obstacles in the work of this sector,” the statement continued.
