Iraq central bank governor says compliance is vital but hard balancing act – The National

Iraq central bank governor says compliance is vital but hard balancing act – The National

The Central Bank of Iraq faces a complicated mission to achieve balance between maintaining a favourable exchange rate for Iraqis and compliance with international standards to stop money laundering, Governor Ali Al Alaq said on Thursday.

He said that the bank also had to limit the flow of hard currency abroad.

Since early December, the Iraqi dinar has fluctuated sharply after a tightening of procedures for international transfers.