“Recovering the role of commercial banks in financing imports , Controlling the Cash Supply , and Attracting and investing migrants’ remittances “ these are three alternatives solutions in the “Policy Paper on Parallel Market and CBY Monitoring Role “ which was released today Thursday by the studies & Economic Media Center (SEMC) , The policy paper is one of many policies that SEMC works on in order to find solutions for the Economic problems
The parallel market is called the black market or the shadow market, through which currency is traded outside the control of the official authorities, that create a bid and demand is not real, which leads to the deterioration of the price of the currency, and a negative impact on the economy as a whole.
Mohammed Esmail, the executive manager of SEMC , said during the press conference the paper sets a range of solutions and alternatives that need to be taken into consideration by the official authorities in order to reduce the speculation in the parallel market (black market) .
The paper proposes feasible alternatives to deal with the parallel market. These alternatives are aimed to reducing the negative parallel market impact on the economy
Yasser Al-Maktari , an economic researcher , said that the policy paper provides a deep examination of the problem and its roots and offers proposals for practical solutions that will reduce speculation as well as reduce the impact of the parallel market (the black market of the currency), which is not limited to the commercial sector , but also an Inflation in the prices of imported goods and services which leads to the more suffering among citizens. .
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