The deletion of the zeros from the Iraqi Dinar to make it look better has always been quite a task and a difficult decision to make for the authorities. Recently a few days ago the Iraqi Central Bank Governor Dr Sinan Shabibi, in a dialogue with the news paper magazine Dinar Dealer said that he feels restructuring of the national currency is of importance.
Question: Experts emphasize the poor performance of Iraqi banks what are your steps to address this imbalance?
Answer: the central bank of Iraq always supports the Iraqi banks. The CBI has it as a priority to help other banks and for the development and the reconstruction and the advancement of the country’s economy.
He also told that if they raised the capital of private banks to 250 billion dinars in next year would help to promote and expand the role played by the Department of banking services. He told that they at the CBI are helping other banks to expand its circle of activity. There are many loans offered and other strategies managed to explore more for the betterment of the Iraqi Dinar.
Question: Are there specific steps to seek to achieve in this area?
Answer: Sinan told that the need to promote the banking culture is necessary for the use of modern systems that facilitate the transactions and the trading processes between banks and their affiliates. The steps are taken to improve the relation with the foreign banks. It sure will be a great thing for the Iraqi Dinar.
Question: Plague the economic and financial circles, sometimes due to fears of price fluctuations of the Iraqi Central sales of the dollar?
Answer: the strength of the Iraqi dinar has made more string the reserves of the CBI the foreign exchange reserves up to 60 billion dollars. This makes the Iraqi Dinar the strongest currency in the region.