| المستخلص: |
Facing economic policy in general and in particular monetary policy in Iraq , the challenges of building a strategy to achieve stability and promote development in a rapidly and bring about a fundamental improvement in the level of growth , but that the administrative steps the President in the field of monetary policy has been taken to facilitate the task of the monetary authority in the application of vision to guide the financial system, so comes the decision (56) for the year 2004 complement to confer status of independence of the Central Bank of Iraq, what he was doing from the efforts in order to achieve its objectives, in line with Article 26 of the above law , bringing the central bank lending to the government or any public authority owned by the state , either directly or indirectly , except buying government securities in the context of open market operations , so it has become the central bank independent also no longer leverage to finance the budget deficit , which contribute to increased public spending as it hurts the elements of macroeconomic stability and the deterioration of growth and deviation of investment opportunities. The liberalization of the financial sector , especially liberalization of interest rates and the removal of any form of braking financial goal plans credit , which was imposed by the central bank on the allocation of credit resources between sectors is a necessary step to prevent the dispersal of savings and leave the mechanisms of supply and demand operate efficiently, with the open participation of foreign banks in Iraq , either branches or independent companies with competitive playing field for domestic banks in consistent with the prospects and requirements to Completion of the financial system
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