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Despite of militant insurgents, governor of Central Bank of Iraq assured support for Iraqi Dinar

Despite of militant insurgents, governor of Central Bank of Iraq assured support for Iraqi Dinar
Abdel Basset Turki, Governor of the Central Bank of Iraq has clarified that despite of the turmoil within the country due to the insuring terror activities as well as violence, carried out by terrorist groups, it is still important to think about Iraqi currency reform.
During his participation and chaired by the FATF for the Middle East and North Africa to combat money laundering and terrorism financing in the capital of Bahrain, in a statement, Mr. Turki added that the cash reserve supporter of the Iraqi dinar is 70 billion dollars and Central Bank of Iraq has been able to support the exchange rate of Iraqi dinar which is 1200 dinars to the dollar. However, he mentioned that the central bank did not rule affected exchange rate yet.
He assured powered reserves of Iraqi dinar. Dinar is tied in other currency and cash reserves, as he assured Iraqis that those large reserves of state funds of the central bank is not in Iraq but in the states and other banks in Europe and other countries.
Considering the latest violence in Iraq, carried out by armed militants, he mentioned that there is absolutely no doubt that the insuring militant attacks will hit the country financially.
And money laundering in Iraq and in the region by virtue chaired this group said: " Iraq and the GCC in particular and the Arab countries and Middle Eastern generally need to work doubly to stop the process of money laundering and financing of terrorism because there are a lot of gaps must be bridged for not world class and this is what we need now."
And influenced by the currency and the economy because of the military attack militant groups He pointed out that Iraq has strong relationships and direct in this context, with the Central Bank of Abu Dhabi and medical relations with the Abu Dhabi National Bank and obese readiness for cooperation and coordination with the GCC countries in this area, especially in the technical field.
Updated 02 Jul 2014 | Soruce: CNN | By S.Seal
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