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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    News of American approval to enhance the advance balance of 5 Iraqi banks in dollars

    Rocky
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    banks - News of American approval to enhance the advance balance of 5 Iraqi banks in dollars Empty News of American approval to enhance the advance balance of 5 Iraqi banks in dollars

    Post by Rocky Sat 11 Nov 2023, 6:47 am

    [size=38]News of American approval to enhance the advance balance of 5 Iraqi banks in dollars[/size]


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    November 11, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: A government source revealed, on Saturday, the agreement of the Central Bank of Iraq with the American side to enhance the advance balance of five Iraqi banks in dollars.
    The source told media outlets followed by Al-Masala, “In the past few days, intensive meetings took place in Abu Dhabi between a delegation from the Central Bank of Iraq and the American side responsible for foreign transfer operations to cover imports, and the negotiations culminated in a number of decisions and mechanisms that contribute to facilitating Procedures for external transfers related to imports through the foreign currency sales window.”
    He added, “It was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via (JP Morgan),” noting that “the problems related to the rejected transfers were resolved, and it was agreed that the rejection of transfers should be based on strong reasons.”
    He continued: “There were also other meetings that brought together one of the Emirati banks, the Central Bank of Iraq, and the American side, to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks (UAE Dirham pilot),” indicating that “things are going well in this aspect, as all the technical details related to it have been resolved.” In this regard, it is expected that the mechanism for enhancing balances in the UAE dirham will begin within the next few days.”
    He stressed that “there are serious negotiations that have reached their final stages to enhance the balances of some Iraqi banks in euros with UBAF Bank to finance trade with the European Union,” pointing to “an increase in the number of banks whose balances in Chinese yuan are being enhanced through the Singapore Development Bank.”
    He added: “Accounts have been opened for 6 Iraqi banks in this bank, and during the coming period 7 more banks will be added to finance Iraqi trade and imports from China, as these imports are estimated at about 12 billion dollars annually.”
    The source concluded, saying: “Bank accounts have also begun to be opened in the Indian rupee for a number of Iraqi banks at the same correspondent, the Singapore Development Bank (New Delhi branch), and operations to enhance the balance of two Iraqi banks have actually been completed as a first stage, and it is expected that this mechanism will contribute to financing Iraq’s imports from India.” Especially medicines and foodstuffs, which are estimated at about $3 billion.”
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