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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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    The central bank is required to meet the seven criteria for the purchase of foreign currency by bank

    Rocky
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    • Post n°1

    The central bank is required to meet the seven criteria for the purchase of foreign currency by bank Empty The central bank is required to meet the seven criteria for the purchase of foreign currency by bank

    Post by Rocky Thu 11 Aug 2016, 3:21 am

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    The central bank is required to meet the seven criteria for the purchase of foreign currency by banks


     Baghdad / Ibrahim Ibrahim 

    Select the Iraqi Central Bank, on Wednesday, seven criteria against which to meet the dollar needs of banks and companies remittance, and as he emphasized that the institutions would be classified in accordance with those standards, economists called on the government to hit thehotbeds of corruption from speculators and some influential officials to control the currency market. 


    The the central bank in a document obtained the "long", a copy of which, it is "to facilitate the real beneficiaries for the dollar and prevent irregularities in banks and firms conversion approved to comply with the requirements of compliance and the law against money laundering and financing of terrorism, issues ofprinciples and criteria meet the demand to buy dollars for the benefit of customers of remittances, cash or credit it will rely on the commitment of these banks requirements and international standards compliance and the law against money laundering and terrorist financing controls and instructions issued. " 
    he said the bank" commitment will depend on the outcome of the Iraqi Central Bank assessment of theperformance of compliance officers and officials of the units reported laundering laundering and terrorist financing units and risk management have , "noting that" the assessment will also depend on the extent tocomply with the requirements to disclose the sources of funds of customers and verified and documented, aswell as the extent of the training programs and courses conducted by these banks and companies effectively. " 
    the bank said that" the assessment will also include the extent of the obligation to disclose the real direct beneficiary of the transfers and letters of credit and the sources of their money, in addition to countless dealing banks beneficiary messaging abroad seed from one of the international rating agencies, as well as the commitment of these banks and companies conversion to send matches coupes open its assets accounts with foreign banks. " 
    He noted Bank that " the assessment will also include the proportion of the use of the style of documentary credits to finance foreign trade instead of money orders, in addition to the completion of the contract tasks with an international audit firms known for an evaluation of their financial positions and the quality of their assets operations, as well as the extent of the banks commitment to take quick and effective conservation measures on public deposits and entitlements to be provided upon request and the case to send lists ofnames of beneficiaries of dollar - buying currency for the purposes of foreign trade financing to the Central Bank to secure sent to the General Administration of Customs and the General Authority for taxes in a timely manner. " 
    bank" and stressed institutions from banks and financial transfer would be classified into several categories according to the evaluation results that may be obtained and will meet the demands which category you get the reputation Supreme continuously and at rates higher than the foreign currency , and will be re - evaluating the levels of these institutions in accordance with those standards every three months or when you get variables in performance with reference to the failure to satisfy paragraph results The central bank assessment of the performance of compliance and reporting money laundering operations to the denial of access to the window actually officials. " 
    for his part , the economic expert Uday Abdul Ameer Amer steps the central bank to" late "and fruitless because of the lack of retrieving the billions of dollars that have gone corrupt pockets of speculators and influential . 
    Amer said in an interview for the "long", " the central bank is unable to now for managing the currency market and face mafias speculators and corrupt who control the exchange rate according to their data personal." 
    he added that "should the executive government institutions to stop draining the public treasury money as aresult of the continued sale the process by daily auction , which has provided great opportunities for some influential stealing money under the guise of the central bank law. " 
    He said the " control of the market economy is to control the price of the dollar exchange rate , which is themain pillar in the local balance of the market , which suffers from high contraction in almost two years . " . 
    The Iraqi Central Bank announced on Tuesday (August 9, 2016), announced the launch of a website financial and economic statistics, as he emphasized that the site contains price indices and the Iraqi market for securities, pointed out that the site is available to state institutions, researchers and citizens. 
    The central bank announced on Monday ( June 2016) 27, the withdrawal of two companies leave, attributing the cause of what he called Bmkhafatthma "serious" and the other for "cheating Secretariat", while trade demanded the cancellation of granted them certificate of incorporation. 
    founded CBI independent bank under the law issued on the sixth of March of 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and conduct daily sessions for buying and selling currencies.



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