• Central Bank: The preparation of exchange companies in Iraq is the largest in the region
  • 1/21/2019

BAGHDAD (Reuters) - Iraq's central bank governor Ali al-Alak said on Monday that Iraq has the largest exchange companies in the region and a number of countries in the world, stressing that these companies are not just "small shops".

"The number of exchange companies in Iraq is the largest in the region, but the largest in many companies located in the countries of the world," he said, noting that "this reflects the importance of these companies and their role and the nature of the economic reality in the country."

"The Central Bank is maintaining the stability of the exchange rate, which is a goal to achieve real growth and stability, which is the essence of monetary policy to achieve economic stability in the country and exchange companies are playing an important role in this framework and any imbalance will be reversed," adding that
" Companies and make them close to keep pace with developments in the world. "

Al-Alak pointed out that "the bank asked exchange companies to take steps is to assemble companies from the forces capable of development and keep pace with global development," pointing out that "some companies have forgiven for several reasons."

"The world is currently living in an age where these companies can not be a small shop that opens in a short time and closes at a certain time, but these companies must perform vital work and provide services parallel to financial institutions," he said.