More than 760 claims on banks to guarantee the rights of customers The central bank defends the currency auction and reveals an agreement to approve the budget

Last Updated 8:06 am

The Central Bank of Iraq, an agreement to approve the draft budget law for the year 2019.


The central bank adviser, Walid Abdul Nabi said that «the budget will be approved because most of the points of disagreement have been agreed upon».



He added: "The bank prevents the exploitation of the account of any customer and the bank is responsible for compensation for any damage." He continued: «As a central bank through the sanctions committee we rely on four rules to reduce these crimes» indicating that «the bank offered to compensate the customer with all losses because he is not a party to the subject».


Abdul Nabi pointed out that «the central bank through the sanctions committee includes specialists in the departments of the bank» pointing out that «the Committee imposed fines amounted to 566 billion Iraqi dinars in respect of the Bank of Baghdad and fines imposed on him for various purposes, including the lack of full documentation and the bank exploited to customers bears All the results and fines imposed on customers ».



He explained that «imports are covered either by a transfer or a document that is an international transaction and the right of all exploiters to account for the bank» revealing: «We have more than 760 cases on banks to guarantee the rights of customers». He stressed that «the Central Bank is not affiliated to the Ministry of Finance and is not bound by the decisions of the Inspector General of the Ministry».



Abdul Nabi defended the "daily auction of the central bank, which sells between 100 to 150 million dollars." He pointed out that «the central bank helped the private sector mediated by this auction».


«The Iraqi economy was meeting the requirements of the ministries of trade, health, industry and agriculture, "The central bank adviser said," I am surprised at how the central bank's documents reach the satellite channels and the media. "He stressed that" the central bank can not be exploited for political purposes because it does not deal with individuals.


"He said that" the bank is an institution established by the struggle of Iraqis And the defamation of it is not true "denied" existence Pressure on the bank ».


About the Prophet that« the Central Bank noted that the proportion of financial coverage of banks is 11% and increased by 100% and became a deal 22% in the settlement of salaries and can be an individual loan easy »noting that« the subject of ironing card for each company aimed at To profit and can be in the first stage is high, but decreases in the rest of the stages ».


The Central Bank of Iraq, for its reluctance to extend letters of guarantee to exchange companies.


The bank said in a statement that "based on what was put forward at the first conference of companies to mediate the sale and purchase of foreign currencies through the desire of some companies to mediate integration decided to wait to extend letters of guarantee to all exchange companies." "The exchange companies will be informed of the amount of the guarantee letter to the company's capital to be determined later," the bank said.



The Central Bank decided on 9 January that the period of letters of guarantee issued by banks for the benefit of companies to mediate the sale and purchase of foreign currency for six months instead of a year.


The letter of guarantee is a pledge issued by the bank at the request of the client undertakes to pay the bank value of the letter to a third party Beneficiary in the case of a claim for payment of the value thereof within a certain period.




https://www.almuraqeb-aliraqi.org/2019/01/24/126400/