Hussein added: “We invest in the United States as it is a safe haven and the only country that granted Iraq immunity, and the risks of investing in other countries are great.”
He explained that “the monetary mass exported in Iraq amounts to 81.7 billion dollars (107 trillion dinars), and what is circulating in the markets is close to 30.5 billion dollars (40 trillion dinars), and that changing the currency is within the powers of the Central Bank, and deleting the zeros needs legislation in the Iraqi parliament,” according to the German news agency “DBA.”
Hussein continued: “There are no sanctions from international bodies on the Iraqi banking sector after today, and we are continuing the reform process in coordination with Oliver Wyman. International confidence in the Central Bank of Iraq is very great, and the seven banks that were allowed to deal in non-dollar currencies may begin work soon.”
He explained, “The majority of depositors’ funds in the Iraqi Islamic Spectrum Bank are guaranteed, and if a deficit occurs, the Central Bank of Iraq will intervene, and the current government is managed with the idea of the private sector, and the role of the media is important in improving Iraq’s image internationally.”
