An economic expert details the cash conversion cycle of the Iraqi dinar
An economic expert details the cash conversion cycle of the Iraqi dinar
The economist, Salah Nouri, detailed the monetary conversion cycle of the Iraqi dinar.
Nouri said {to Al-Furat News} that: “The monetary cycle {the Iraqi dinar} exists between the Central Bank, as the monetary authority and the only authorized one to issue the national currency, and the Ministry of Finance, as the financial authority authorized to implement the federal budget in terms of spending and collection.”
He added, "The third party is the public, the financial institutions {governmental and private banks} and the trade, agriculture and industry sectors, meaning that the cash that is offered to the public when implementing the budget returns to the Central Bank and then to the Ministry of Finance."