Association of Exchange Companies in Iraq aspirations and challenges

[size=52]Association of Exchange Companies in Iraq aspirations and challenges[/size]

[size=45]Hadi Glow Meri[/size]
[size=45]Iraqis are looking for a more flexible economy based on openness to the world's economies, refusing to mortgage money, trade and investment in a country or a particular system. With the increasing confidence of international banks in the Central Bank of Iraq and the lifting of restrictions and barriers created as a result of conflict conditions. In particular, and with it taking the work of banking companies expand and mature, established the Association of Exchange Companies, headed by businessman and businessman Nasir al-Musawi, which we discussed with him through the dialogue of the reasons for establishment, working conditions, and the future ambition.[/size]
[size=45]- Mr. Al-Moussawi: Do we have a brief brief about the motives of the establishment and the objectives envisaged?[/size]
[size=45]The goal is to unite and unite all exchange companies under one tent, and represent them to government agencies to solve problems and enhance cooperation to serve economic stability.[/size]
[size=45]- How many companies are members of the association, and the number of shareholders?[/size]
[size=45]Is the first official entity to exist for money exchange and transfer companies and the money in Iraq, including membership of all the exchange companies from the north of Iraq to the south, runs this organization specialists in the Iraqi Stock Exchange and those with experience and certificates.[/size]
[size=45]After completing the fundamental approvals from the General Secretariat of the Council of Ministers and the relevant departments.[/size]
[size=45]The number of companies that have been granted official work permits in all governorates of Iraq is 2000 companies except for the Kurdistan Region which contains a large number. The Central Bank also takes legal measures for the purpose of subjecting them to the same laws as other companies. Accountant and other employees according to the nature of the company's work). According to the law of NGOs, which allows the organization to deal with the relevant government departments. The Association of Exchange Companies has sought to overcome all the difficulties facing the security, administrative and technical exchange companies with various departments Mieh to ensure the smooth flow of work of these companies and remove all obstacles and resolve all the dilemmas note that the sector, which oversees the work of exchange companies are the Central Bank of Iraq.[/size]
[size=45]- Can you describe the role of exchange companies in the local economy and do you have external transactions?[/size]
[size=45]Civil society organizations have played a big role in representing the segments of society and defending their rights. We hope to transfer this culture to our dear country and benefit from the role of NGOs in the private sector to make it the strong arm to support government work and integration in the public interest of the country. Requires the support of a large state in Iraq for the purpose of helping these organizations to play an effective role to serve the segment represented by the government sector as well as the need to cooperate and work together to achieve the desired goals, lead exchange companies in Iraq a very important role where to Devoid of any city there is a company that has direct contact with the public exchange company, it holds the performance of services the customer needs it, such as selling foreign currencies and internal conversion to all provinces and issuing cards to pay employees' salaries and will expand its role in the future for the implementation of foreign remittances.[/size]
[size=45]- With whom financial institutions deal directly and what is your indirect dealings with others?[/size]
[size=45]Through contracting with international companies such as (Western Union, MoneyGram) and to do the work of a mini bank by providing all the services allowed by the law to provide to customers and finally hopes this large and important segment, which is estimated in the thousands of more care and attention by the State because it has the largest role In the daily movement of the mass of cash and activating the private sector and the operation of labor in addition to the large services provided to traders and importers.[/size]


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Thanks Rocky, sound very encouraging - especially the last paragraph -

"Through contracting with international companies such as (Western Union, MoneyGram) and to do the work of a mini bank by providing all the services allowed by the law to provide to customers and finally hopes this large and important segment, which is estimated in the thousands of more care and attention by the State because it has the largest role In the daily movement of the mass of cash and activating the private sector and the operation of labor in addition to the large services provided to traders and importers."

Lobo, Many thanks to you for being so positive. I have faith that the dinar will RV...[been in this for a little over 13 years]...but reading your positive posts are really great and help keep 'hope' alive. Thanks again!