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Central Bank withdraws the license of the brokerage companies to buy and sell currencies for violati

rocky
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Post by rocky on Mon 01 Oct 2018, 2:28 am

Central Bank withdraws the license of the brokerage companies to buy and sell currencies for violating instructions

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The Central Bank of Iraq announced on Monday the withdrawal of the license of two companies mediating the sale and purchase of foreign currencies for violating instructions.
The bank said in a statement received by the "Economy News" a copy of it, "In view of the violation of companies Nahla and promoter to broker the sale and purchase of foreign currencies to the provisions of the regulation of the work of brokerage companies decided to withdraw their founding license and the confiscation of the letter of guarantee issued by the Islamic bank of 250 million dinars for the bank Nahla and the confiscation of Taminat also in the company of 100 million dinars. "
The bank called on the Ministry of Commerce to cancel the certificate of establishment granted to them by them, in addition to removing their names from their records and to provide the Central Bank with the certified liquidation letter.

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rocky
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Post by rocky on Mon 01 Oct 2018, 3:05 am

Central Bank: the withdrawal of a license two companies mediate the sale and purchase of foreign currency

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The Central Bank announced on Monday the withdrawal of the license of two companies mediating the sale and purchase of foreign currency for violating instructions.
The bank said in a statement that "in view of the violation of the companies Nahla and promoter to broker the sale and purchase of foreign currencies to the provisions of the instructions to regulate the work of brokerage companies decided to withdraw their establishment license and the confiscation of the letter of guarantee issued by the Islamic bank of 250 million dinars for the bank of Nahla and the confiscation of insurance also in the company Almorog 100 million dinars. "
Bank "Ministry of Commerce and demanded the abolition granted to the two Certificate of Incorporation by it" in addition to the write - off of whose names and records to provide the [url=https://www.thebaghdadpost.com/ar/Story/t/1486/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A]central bank[/url] book liquidation authority. " 


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rocky
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Post by rocky on Mon 01 Oct 2018, 3:12 am

Central Bank withdraws the license of the brokerage companies to buy and sell currencies for violating instructions

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- The Central Bank of Iraq (CBE) announced on Monday the withdrawal of a license to buy and sell foreign currencies for breach of instructions. 

The bank said in a statement received by Alsumaria News, a copy of it, that "in view of the violation of the companies Nahla and promoter to broker the sale and purchase of foreign currencies to the provisions of the regulation of the work of brokerage companies decided to withdraw their founding license and the confiscation of the letter of guarantee issued by the Islamic Bank of the 250 million dinars for the bank Nahla And the confiscation of Taminat also Almorog company of 100 million dinars. "


Bank "and demanded the Ministry of Commerce Cancel Certificate of Incorporation granted to them by it , " in addition to the write - off whose names from the records and provide the central bank book liquidation authority. " 

And established the Central Bank of Iraq is an independent bank under the law issued on the sixth of March 2004, as an independent body, responsible for Maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks, 16 Islamic banks, 19 foreign banks, 6 financial institutions and 31 financial transfer companies.



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rocky
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Post by rocky on Mon 01 Oct 2018, 6:29 am

Central warns electronic payment companies to carry out buying and selling currencies




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The Central Bank of Iraq warned on Monday that electronic payment companies operating in Iraq would be able to broker foreign currency buying and selling transactions, stressing that it would impose fines on them if it applied.
A document issued by the Central Bank of Iraq obtained by "Economy News", that "the Central will impose a fine on electronic payment companies if it is proven that any port or a major agent or secondary exploits the name of the provider of the service to carry out transactions to broker the sale and purchase of foreign currency and remittances Outside the system of the service provider in addition to the legal liability borne by the company. "
The document explained that "the supplier is responsible for its competitors and agents based on Article (16 / I / E) of the electronic payment services of funds No. (3) for the year 2014."

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rocky
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electronic - Central Bank withdraws the license of the brokerage companies to buy and sell currencies for violati Empty The Central Bank warns electronic payment companies to carry out the sale and purchase of currencies

Post by rocky on Mon 01 Oct 2018, 6:37 am

The Central Bank warns electronic payment companies to carry out the sale and purchase of currencies
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BAGHDAD / The Central Bank of Iraq (CBE) warned on Monday that electronic payment companies would not be able to buy and sell currency.
The bank said in a statement that it would "impose a fine on electronic payment companies if it is proven that any outlet or agent major or secondary exploits the name of the provider of the service to carry out transactions to sell and buy foreign currency and remittances outside the system provider.
He added that "these companies will also have a legal responsibility borne by the company as the provider is responsible for its competitors and agents based on Article 16 I / E of the system of electronic payment services for funds No. 3 of 2014."


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weslin3
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Post by weslin3 on Mon 01 Oct 2018, 8:46 am

Is this a step to stop the currency auction or for just certain banks?
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Post by Lobo on Mon 01 Oct 2018, 1:30 pm

Thanks Rocky - these last two posts are interesting. Sure hope it is a sign going in the right direction.
noced71
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Post by noced71 on Mon 01 Oct 2018, 1:40 pm

looks like they are squeezing the exchangers/brokers.
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Post by Wheelman on Mon 01 Oct 2018, 4:54 pm

Lower Denominations Are Coming!
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Post by Diamond on Mon 01 Oct 2018, 5:06 pm

sounds to me like they're getting the corrupt out of auctions by stopping banks from the using 3rd party to by dollars jmo

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