Central Bank announces its ability to meet the demand for foreign currency in full

| On 2012-10-07 | Author Faisal Hawai

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09:40 AM
BAGHDAD - electronic integrity

Central
Bank announced its ability to meet the demand for foreign currency in
full, including not intersect with the anti-money laundering law, crime
and the financing of terrorism.
The
bank decided in a statement modify instructions foreign currency
auction in his quest to move to the system free and open exchange,
including the abolition of ceilings amounts of foreign currency sold to
banks daily to foreign exchange.
It also decided to double the foreign currency ceilings sold in cash to banks on a weekly basis.

The
banks have the right to determine the sale price of foreign currency to
their customers, purchase and cancellation of previous selections, as
foreign exchange sold by the banks to customers up to five thousand
dollars to the customer in exchange for highlighting civic identity only
canceled the conditions and other details.
He
explained that he would continue to cooperate with the concerned
authorities in the fight against money laundering and money, crime and
terrorism, and any illegal dealings, calling for adherence to the
anti-terrorism law.
The
bank issued strict instructions governing the sale of currency by
banks, including requiring those concerned in the activity of the Iraqi
private, traders, industrialists and segments other productive who
import goods and services and production requirements and equipment
development, when applying to private banks to participate in an auction
of foreign currency to finance Mistordathm cross conversion or open
letters of credit, the obligation at an exchange rate of $ 1189 dollars
for dinars, after having documents that prove importation in accordance
with standard international norms of documentary credits and remittances
and instructions.




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