DELTA: The crisis and central procedures
Over the past six years, the Central Bank has registered great achievements for Arab organizations and institutions
And internationalism, despite the importance of all the accomplishments that have been achieved, we can mention in this article the most prominent of them.
It has made it in the field of combating money laundering and terrorist financing, and leading monetary policy in light of the crisis in which oil prices have decreased in previous years and its initiative to support development,
By launching the Five Trillion Initiative for government banks, in addition to one trillion for private banks to support and encourage industrial, agricultural and small housing projects
Both large and large, and worked to maximize the bank’s reserves
Iraq from gold and hard currency.
The race has always been to launch reassurance messages to the market and the country in general, to overcome and extrapolate crises before they occur, and we have the statement made by the Governor of the Central Bank in 2016 regarding insurance of employee salaries when oil prices drop
What we heard recently and on the same topic this year, is evidence of the great care and wise vision that it follows to maintain the country’s financial stability.
Today, we are looking forward to the actions that the bank will take
The Iraqi Central and tools, which it will use in order to maintain the stability of the financial and economic situation in Iraq, and we are in light of a global crisis represented by a microscopic organism stopping the activities and areas of different life in all parts of the world and expectations of an acute crisis that will afflict the economies of many countries, we monitor and follow the steps and proactive measures , Taken by the central banks of the neighboring countries and the central banks in many countries of the world.
The country, before the crisis of the Corona virus, faces a severe political and social crisis since October of 2019, which was represented by the massive demonstrations that rocked the country
And the repercussions, which accompanied it on the financial and economic fields and affected business in general and the banking sector
Especially when it ends after this virus has reached the country and disrupts various life activities, which will
The result leads to additional pressure on the banks
In general, and private banks in particular
This requires the intervention of the Central Bank of Iraq with proactive, rapid measures that stabilize the market and exchange rates.
MilitiaMan: The data above and from earlier post today. ~ MM
In the context of the corona crisis and its associated cash crisis, a new currency-foreign exchange mechanism or tool should be adopted to support the banking and banking sector, as the central bank of Iraq has stopped selling the dollar in cash to the exchange companies through Banks,This mechanism is done by giving companies a foreign exchange by providing a statement of beneficiaries and the need for travel tickets, and then they make payments according to the customer’s desire, either in cash or in the account balances of electronic cards to the public.
MilitiaMan: This sure looks like the MEETING went well today. They are talking about the NEW CURRENCY! A MECHANISM to support the Banking Sector that will be facilitated by use for electronic cards.. Wow, things are moving along now very nicely!!! imo ~ MM
Walkingstick: It did …. more, from this meeting.. and others, coming…..Regards….. ~ WS
MilitiaMan: Note the proactive tools they will use.. Oh ya! imo ~ MM
Frank26: 4-6-20 TOLD YOU SO: VIDEO LINK
This video is in Frank’s Opinions.