Baghdad The Association of Iraqi Private Banks confirmed: “The government has taken many steps to limit the rise in the exchange rate of the dollar.”
The Association stated in a statement that it is “monitoring the recent rise in the exchange rate,” stressing that “the rise is a result of modifying the mechanism of the foreign currency sale window in the Central Bank of Iraq and according to the requirements of international transactions.”
It added, “The Iraqi government has taken measures related to the method of collecting tax and customs fees at the border crossings to encourage merchants to work directly with banks and to prevent double taxation.”
It pointed out that “the Central Bank of Iraq has also taken several measures that would limit the rise in the exchange rate,” pointing to “the Association’s support for government efforts and the efforts of the Central Bank of Iraq and the readiness of its banks to sell foreign currency to merchants wishing to open documentary credits at the official price for import purposes and invites merchants to benefit from that”.
It called for “the need for the media to play a positive role in raising awareness, and to stay away from undocumented news that contributes to undermining confidence in the Iraqi currency, financial and monetary policies, and Iraqi banks.”
Source: National Iraqi News Agency