Governor of the Iraq Central Bank: We are on alert to control the exchange rate of the dinar

Governor of the Iraq Central Bank: We are on alert to control the exchange rate of the dinar

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Today, Thursday, the governor of the Central Bank, Ali Al-Alaq, stressed the government's commitment to not reaching the dollar's exchange rate to countries with which the United States prohibits dealing in the American currency, pointing out that Iraq is on alert to control the dinar's exchange rate. Al-Alaq said in a press statement on the sidelines of the meetings of the World Bank and the Monetary Fund in Washington, reported by "Bloomberg" and viewed by NRT Arabia, that "the American requirements for controlling transfers do not classify them as restrictions, but rather all that is required is the application of the money laundering and combating terrorism law." He added, "We are on alert in the central bank to control the exchange rate of the dinar," explaining that "this problem is not related to an internal financial crisis, but rather related to pre-audit procedures for external transfers of hard currency." Al-Alaq explained that "external transfers through the platform" multiplied very quickly, which created a balance in supply and demand for the dollar, "disclosed," the US treasury agrees with us on the need to expand external transfer channels. He stressed, "The new system does not aim to restrict responding to legitimate requests, as much as it aims to provide protection for the banking and financial system from illegal or suspicious operations, and supports the implementation of the Anti-Money Laundering and Terrorist Financing Law and the instructions related to it."