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


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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 determines which entities are eligible to receive their foreign transfers in cash i

    Rocky
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    bank - The Central Bank determines which entities are eligible to receive their foreign transfers in cash i Empty The Central Bank determines which entities are eligible to receive their foreign transfers in cash i

    Post by Rocky Mon 01 Jan 2024, 5:14 am

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    Baghdad - INA
    The Central Bank of Iraq revealed the mechanism for delivering incoming remittances in the US dollar currency.
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    [size]
    A statement from the Central Bank received by the Iraqi News Agency (INA) stated that, “In implementation of the objectives of the monetary policy and to enable banks to meet the needs of their customers for foreign currency, the Central Bank of Iraq has determined the entities covered by obtaining their external transfers in cash in the US dollar, as of January 2, 2024 according to The following:
    - Diplomatic missions, all international organizations and 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 force in the US dollar currency, And ongoing contracts for grants, loans, and foreign agreements.
    - 40% of the remittances received by Iraqi exporters resulting from their exports abroad.
    The statement continued, “With the exception of what is mentioned above, banks are allowed to deliver to their customers the amounts of their remittances received from abroad in cash, and from available internal resources.” For the bank, and according to the agreement between the bank and the customer.”
    According to the statement, the Central Bank of Iraq confirmed that banks will 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.”[/size]
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