The governor of the central bank of Iraq was given the power to cut the sell price of USD by the board of directors of central bank. This will increase the value of IQD in the market.
An official of the central bank said that the bank council will increase the share of the auction which takes place weakly and will be given to the exchange companies. They will increase the shares of who increase their capital according to the requirement of the bank.
He also said that the exchange companies will get the increased share auction and only those companies will be benefitted which increase their capital according to the need of the central bank of Iraq. The money transfer companies which have a total fund of 150 thousand dollars increase their capital according to the need of central bank and there are many money transfer companies which increase their Amolha with respect to the requirement of the bank.
The central bank decided to include banks like Mansour and Baghdad in the first place and then they will approach other banks to increase their capital according to the requirement of the central bank.
Source: [Al Raryy]