Iraqi Parliament to summon CBI Governor over USD rates, liquidity crunch
Shafaq News– Baghdad
Iraq’s parliament will summon Central Bank (CBI) Governor Ali al-Allaq next week to discuss the rising US dollar exchange rate and a liquidity crisis that has delayed salary payments for public employees and retirees, a source told Shafaq News on Tuesday.
The session will also include senior officials from state-owned lenders Rafidain Bank and Rasheed Bank, focusing on cash shortages, declining bank reserves, questions over the handling of funds and allocations, and the absence of a clear credit policy, the source said.
Among the issues to be examined are allegations that Rafidain Bank granted special approvals for large loans and advances based on favoritism, as well as reported major administrative violations within the bank.
Lawmakers are also expected to question the establishment of Rafidain One, citing a lack of disclosure over its structure and mechanisms, and whether it signals the start of privatizing Rafidain Bank or opening it to private investors. Contracts signed by the bank and the legality of those agreements will also be reviewed.
The US dollar exchange rate could rise to 150,000 Iraqi dinars per $100, the spokesperson for Al-Sulaimaniyah currency exchange market, Jabbar Koran, forecasted yesterday, citing increased demand for foreign currency and insufficient dollar injections by the CBI.
Earlier, Parliament Speaker Haibet al-Halbousi said the legislature will host several officials next week, including representatives from the Federal Board of Supreme Audit, the Integrity Commission (CoI), the Federal Public Service Council, and provincial councils, as well as the CBI Governor, the head of the Martyrs Foundation, and the head of the National Pension Authority, as part of parliament’s oversight role.
