CBI requires all banks to deposit funds at Central Bank as a condition for auction participation; Economists object

Posted: February 14, 2014 in Iraqi Dinar/Politics

2014/02/12 09: 31 Member of the Economic Committee accuses Central Bank actions intended to hit the local currency

The Central Bank’s decision to compel banks to deposit all their money at the Central Bank as a condition for its entry in the auction Exchange, has led to the rise of the dollar is suspicious ”

Member of parliamentary Committee for economy and investment Deputy Aziz Sharif al-mayahi, said Wednesday the Central Bank actions intended for the demolition of the domestic economy, warning of the East Bowl Mayor Abdel Basset Turki to Parliament if that policy.

Mayahi said in a statement “the Obelisk”, “decision of the Central Bank to require banks to deposit all their money at the Central Bank as a condition for its entry in the auction Exchange, the results clearly reflect the high price of the dollar raises suspicion,” adding that “we warned earlier of the seriousness of the present resolution.”

He said that “the Central Bank did not provide any logical justification for this decision as the damage the Iraqi dinar against the dollar and this is reflected in the local market, merchants and banks alike will be overshadowed if that policy in the near term on food”.

Lacey said that the “decision of the Central Bank either ill-advised or aims to hit the local currency market to service beneficiaries lanarfha all this in its entirety from section destroyed the economy”, stating that “the insistence on the Vandal will propel us to wire every legal means to stop it, including a request to the Presidency of the Parliament in order to call the Governor of the Central Bank to provide his pushes and his excuses for what happens.”

The Central Bank had decided earlier not to allow banks to enter the currency market only on condition that put their money in the Bank.

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