New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price

by **Rocky** Tue 17 Jan 2017, 1:35 am

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Post n°1

New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price

by Rocky Tue 17 Jan 2017, 1:35 am

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[ltr]New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price[/ltr]

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BAGHDAD - Iraq Press - January 17: The Central Bank of Iraq, on Tuesday, new instructions to regulate the sale of the dollar and cover the import of the private sector, to adjust the dinar exchange and anti - money laundering and maintaining foreign currency "

She Bankers Association, in a statement, received / Iraq Press / copy of it, that " the FAQ Aaljdidh regarding the organization of the dollar insurance operations for the purposes of issuing money orders and opening letters of credit trends that make Iraqi banks , which mediates between the importer and the central bank directly and through an emphasis on the need to knowledge of the ultimate beneficiary and the preservation of hard currency for Iraq through the optimal use in order to serve the national economy and sustainable development. "

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It noted the statement, " The instruction came after the classification of the central bank for banks to build on the efficiency of the units compliance and anti - money laundering and risk management available in banks and liquidity groups, including pouring towards the central objectives of the central bank and the banking sector of Iraq to maintain the dinar 's exchange rate against the dollar in addition to the stimulate the banks to work with high transparency and a large commitment to comply with rules and regulations and the law of money laundering and terrorism financing No. 39 of 2015 ". Ended O.h

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by **Rocky** Wed 18 Jan 2017, 1:34 am

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Rocky: Admin Assist; Posts : 269942
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Post n°11

Central Bank announces strict measures to control the sale of the dollar window

by Rocky Wed 18 Jan 2017, 1:34 am

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Central Bank announces strict measures to control the sale of the dollar window

 Baghdad / term

The central bank revealed a series of measures to control the work of the sale of foreign currency to cover imports by the private sector window, as well as control over the exchange rate in the domestic market.

According to data from the Central Bank, seen by the (range), the bank sold since the beginning of this year and until yesterday the amount of $ 1.9 billion by selling the currency held by the window of a day, to 49 banks and money transfer company.
The statements show the central bank for the current year sales rising by 10% compared to sales of the same period last year. Central and sold, in the first half of January 2016, about $ 1.7 billion.
Central and uncles face to all banks operating in Iraq, I got (range) a copy, which he called for banks to provide analytical documents and statements prove conversion processes substitute for customs permits no later than 31 March.
Central uncles claim " to submit lists of the names of transferred customers and end users of the amounts foreign remittances transferred , including through a third party enhanced including evidences the conversion by the beneficiary, and include disclosure of the amount and the purpose and beneficiary country in addition to the bank statement reporter shows the total conversion menus and operations also included enhanced business of those operations and SWIFT message to the beneficiary. "
He noted the central uncles that " the transactions pertaining to the current year include the provision of enhancement requests funds in dollars to the department of financial operations and debt management, and are considered in accordance with the classification criteria set by the central bank, and to provide permits customs import transactions , which bought the bank 's dollar from the central bank to cover them after over three months on the implementation of the transfer , or credit or provide analytical statements during a maximum period of seven working days after the end of each month, "we" when you do not meet the deadlines mentioned in this will stop the bank from participating in the window for the submission of those requirements. "
She stressed the central bank instructions on it "must not exceed the amounts that are stock enhancement by purchase volume provided to the bank requests, and in the case of enhanced amounts exceeded amounts conversion applications submitted to the bank the bank take appropriate action, and where under conversion difference at the bank or discount the difference amounts subsequent booster. "
Central and stressed " the commitment to compliance with anti - money laundering and counter - terrorism and a commitment at a specific price by the central bank, and the bank will be deprived from entering the final window in the event of breach of this."
Central and stressed that " the violation of these regulations will be presented to the perpetrators of sanctions and penalties stipulated in the laws, instructions and regulations in force were also subjected to prosecute the crime of money laundering and terrorist financing."
In the meantime, private banks association considered that " the central bank instructions regarding the organization of the dollar insurance operations for the purposes of issuing money orders and opening letters of credit trends that make Iraqi banks , which mediates between the importer and the central bank directly."
She explained the Association, in a statement received (range) a copy of it, that "instruction stresses the need to achieve the main objective of the Central Bank , a knowledge of the ultimate beneficiary and the preservation of hard currency for Iraq through the optimal use in order to serve the national economy and sustainable development , " noting that " the FAQ rating came after the central bank for banks to build on the efficiency of the units compliance and anti - money laundering and risk management and liquidity available in the banking groups. "
Confirmed Association that " the new regulations flowing toward the central objectives of the central bank and the banking sector of Iraq to maintain the dinar 's exchange rate against the dollar and stimulate the banks to work with high transparency and a large commitment to rules and regulations to comply with the law of money laundering and terrorism financing No. 39 of 2015".
She Association of private banks for "its commitment to the application of the Central Bank instructions and urges banks to increase their role in achieving economic development and maintain the dollar 's exchange rate would contribute to restoring confidence in the banking sector during the current year and post Daesh , " calling operating banks in Iraq to "cooperate continuous with the central bank and the fulfillment of all the requirements set forth in the instructions and to contribute to the success of his future plans that are in the national economy. "
On the other hand, an economist Azim al - Khafaji , told the (range) that " the last step by the Central Bank of sound and bold and must be accompanied by the simplification of procedures to open current accounts for the importer and not to increase some centrifugal conditions."
He called al - Khafaji , the Federation of Chambers of Commerce and the Confederation of Businessmen and the Union of Industries and banks to "urged its members to ensure the success of this step especially since the party mediator in the auction currency the central bank has the possibility to thwart the move."

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by **Rocky** Wed 18 Jan 2017, 2:07 am

Rocky

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Post n°12

The central bank seeks to control the sale of the dollar and rely on another beneficiary got it

by Rocky Wed 18 Jan 2017, 2:07 am

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Central Bank building one independent bodies in accordance with the Iraqi constitution .. Photographed by Mahmoud Raouf
The central bank seeks to control the sale of the dollar and rely on another beneficiary got it

Author: AR, ASJ, AT
Editor: AR, the AT
18.01.2017 09:39
Number of Views: 339

Long-Presse / Baghdad

A source at the Central Bank of Iraq, on Wednesday, that the bank will depend on the other beneficiaries in the process of selling the dollar, unlike in the present time, as explained that the instructions issued regarding currency aim sale "to control the sale of the dollar window and find out the source of exchange," he noted The new regulations require private banks to provide documentation showing where its sales of dollars and names Almtslim.

The source said, in an interview with (long-Presse), that "the instructions issued by the Central Bank regarding the sale of the currency objective window to control the sale of the dollar as well as knowledge of the source of the dollar," stressing that "it is for that relied on documents provided by private banks which show sales dollar and Almtslim. "

The source explained that "previously relied window sell the currency on the bills dealers offered to banks, who in turn submit them to the Central Bank of Iromon be obtained on the dollar, which, according to the Central Bank of the mostly not true," adding that "the bank wants the banks to prove who is the Last beneficiary received on the dollar until the central bank can contact him at random and making sure picking on the currency. "

Revealed Association of private banks, on Tuesday, the (17 January 2017), by the Central Bank of Iraq to issue new instructions to regulate the sale of dollar operation to cover the imports of the private sector, while confirming that the directive was intended to maintain the dinar's exchange rate against the dollar and the fight against money laundering and the province for foreign currency.

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by **Rocky** Wed 18 Jan 2017, 4:08 am

Rocky

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Post n°13

The central bank seeks to control the sale of the dollar and the reliance on the latest beneficiary

by Rocky Wed 18 Jan 2017, 4:08 am

[You must be registered and logged in to see this image.] The central bank seeks to control the sale of the dollar and the reliance on the latest beneficiary got it

Economy News / Baghdad ...[You must be registered and logged in to see this image.]

A source at the Central Bank of Iraq, on Wednesday, that the bank will depend on the other beneficiaries in the process of selling the dollar, unlike in the present time, as explained that the instructions issued regarding currency aim sale "to control the sale of the dollar window and find out the source of exchange," he noted The new regulations require private banks to provide documentation showing where its sales of dollars and names of recipients.
The source said that "the instructions issued by the central bank about the currency goal of selling control of dollar selling window as well as knowledge of the source of the dollar," stressing that "it is for that relied on documents provided by private banks which show sales of the dollar and the recipients."
The source explained that "previously relied window sell the currency on the bills dealers offered to banks, who in turn submit them to the Central Bank of Iromon be obtained on the dollar, which, according to the Central Bank of the mostly not true," adding that "the bank wants the banks to prove who is the another beneficiary received on the dollar until the central bank can contact him at random and making sure picking on the currency. "

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New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price

New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price

[ltr]New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price[/ltr]

Central Bank announces strict measures to control the sale of the dollar window

The central bank seeks to control the sale of the dollar and rely on another beneficiary got it

The central bank seeks to control the sale of the dollar and the reliance on the latest beneficiary

Re: New instructions of the Central Bank to keep the dinar exchange and anti-money laundering price

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