Government to avoid withdrawal of Foreign Cash Reserves at CBI: Al-Jubouri

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The Speaker of Iraqi Parliament Salim Al-Jubouri stressed that Iraqi government should not pullout foreign currency reserves of the Iraqi Central Bank and the magnitude of the financial regulation and Financial Court Law in the fight against financial corruption.

Al-Jubouri delivered these words during the launch of Strategic Plan of the Iraqi Central Bank for the time period of 2016 to 2020. He further added that it is the time for the approval of the Financial Court Act, so it should be forwarded to the Iraqi Parliament for approval and its implementation. It is considered the most important element to disciplinary surplus that would take over the law for the Financial Action Task Force in order to decrease or eliminate all types of financial corruption.

Al-Jubouri stressed that Iraqi government not to withdraw foreign currency reserves at the Iraqi Central Bank to cover the deficit of Iraqi Budget 2016 and other essential payments. He further added that Iraq has more natural wealth and we have the capability to move our economy in much better direction. he said that Iraqi Dinar Investment or investment in other productive sectors can contribute for the betterment such as Industry, Agriculture, Health, Education and Banking Sectors. He added that reform process focused on the real challenges in order to create visions and find perfect solutions. He said that we are in the favor of any kind of effort that is in the best interest of Iraqi citizens.

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