Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed Monday, that Iraq ranked distinguished among international groups that follow the best banking compliance systems, which makes it safe from any international financial risks, noting that the international community also praised the solidity of the financial and banking system.
Saleh said in an interview followed by the “Al-Ma’louma” Agency, that “cash issuance mechanisms are one of the exclusive powers of the Central Bank of Iraq as it is the issuing bank based on its Law No. 56 of 2004,” indicating that “what is published here and there about problems with cash liquidity is far from base.” “The well-established institutional structure of the monetary authority in Iraq, which is one of the most important authorities concerned with the issues of the availability of cash liquidity and the stability of the payments system, which contributes to the sustainability of the stability of transactions in the national economy.”
He added, “Managing cash liquidity, building the monetary foundation, and controlling liquidity levels in the country are subject to the principle of a long-term plan that is consistent with achieving the operational objectives of monetary policy in order to achieve the intermediate goals of stability and sustainable economic growth and determine the stability of long-term cash flows.”
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