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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar

    Rocky
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    bank - The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar Empty The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar

    Post by Rocky Sun 31 Dec 2023, 5:27 pm

    The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar currency
     
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    In implementation of the monetary policy objectives and to enable banks to meet the foreign currency needs of their customers, the Central Bank of Iraq has determined the entities covered by receiving their foreign transfers in cash in the US dollar, as of January 2, 2024, according to the following:
     
    - All diplomatic missions, organizations and international agencies operating in Iraq.

    - Non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers, in the event that the foreign donor party stipulates that the amounts of incoming foreign transfers be paid in the dollar currency inside Iraq.

    - Government contracts in effect in the US dollar, and ongoing contracts for grants, loans, and foreign agreements.

    - 40% of the remittances received by Iraqi exporters resulting from their exports abroad.

    Except for what is mentioned above, banks are permitted to deliver to their customers the amounts of their transfers received from abroad in cash, from the bank’s own available resources, and according to the agreement between the bank and the customer.

    The Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interests/returns), and that the customer has the right to withdraw deposits and interest/returns deposited in cash. 

    The Central Bank of Iraq noted that banks are not allowed to automatically transfer customer funds received from outside Iraq in the US dollar currency to the dinar currency except with the customer’s approval, stressing the decisions of the Council of Ministers to prevent internal transactions in foreign currency and to enhance confidence in the Iraqi dinar.
     
    Central Bank of Iraq 
    Media Office
    December 31, 2023
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    Rocky
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    • Post n°2

    bank - The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar Empty The Iraqi Central Bank announces the mechanism for delivering incoming remittances in the dollar cur

    Post by Rocky Mon 01 Jan 2024, 4:29 am

    [size=35][size=35]The Iraqi Central Bank announces the mechanism for delivering incoming remittances in the dollar currency[/size]
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    On Sunday, the Central Bank of Iraq announced the mechanism for delivering incoming remittances in the US dollar currency.


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    The bank said in a statement, “In implementation of the objectives of the monetary policy and to enable banks to meet the needs of their customers for foreign currency, the [url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url] has determined the entities covered by receiving their external transfers in cash in the [You must be registered and logged in to see this link.] dollar, as of January 2, 2024.”


     
    The statement added, "All diplomatic missions, organizations and international agencies operating in [You must be registered and logged in to see this link.], and non-governmental civil society organizations registered in the General Secretariat of the [url=https://www.alsumaria.tv/Entity/1122135457/%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1/ar/]Council of Ministers[/url], in the event that the foreign donor party stipulates that the amounts of incoming foreign transfers be paid in the dollar currency inside [You must be registered and logged in to see this link.]."
     
    The statement continued, "Government contracts in force in the [You must be registered and logged in to see this link.] dollar currency, ongoing contracts for grants, loans, and foreign agreements, and 40% of the remittances received by Iraqi exporters resulting from their exports abroad."
     
    The statement pointed out that “except for what is mentioned above, banks are allowed to deliver to their customers the amounts of their transfers received from abroad in cash, from the bank’s own available resources, and according to the agreement between the bank and the customer.”
     
    The Central Bank confirmed that “banks continue to open bank accounts for customers in foreign currencies in exchange for (interest/returns), and that the customer has the right to withdraw deposits and interest/returns deposited in cash.”
     
    He noted that "banks are not allowed to automatically transfer customer funds received from outside [You must be registered and logged in to see this link.] in the [You must be registered and logged in to see this link.] dollar currency into the dinar currency except with the customer's approval," stressing "the decisions of the [url=https://www.alsumaria.tv/Entity/1122135457/%D9%85%D8%AC%D9%84%D8%B3 %D8%A7%D9%84%D9%88%D8%B2%D8%B1%D8%A7%D8%A1/ar/]Council of Ministers[/url] to prevent internal transactions in foreign currency and to strengthen confidence in the Iraqi dinar."
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