Established in 2006 as a Community of Reality

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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.

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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


4 posters

    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Neno
    Neno
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by Neno Fri 30 May 2014, 4:50 pm

    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014




    [You must be registered and logged in to see this link.]

    Announcement From CBI 

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    The Republic of Iraq

    The Central Bank of Iraq

    Greetings:

    To all exchange companies and money transfer companies

    Based on the provisions of paragraph 2 of Article 4 of the code of the Central Bank of Iraq, and the decision of the Board of Directors taken at  meeting number 1511 on 4/30/2014, the agreement is as follows:

    1.  All exchange companies are to purchase the dollar directly from the CBI (wire transfer or cash). This is done through submitting an application to the foreign currency exchange window, following the mechanisims and instructions numbered 9/3/21 dated 1/26/2014.

    2. Opening accounts in the Dinar and Dollar for the exchange companies for this bank should be done through the banking system (ICBS) for the purpose of foreign currency purchase. 

    This should be done in the following manner: 
        
    A. Current accounts will be opened in Dinars through the (ICBS) banking system for every company according to the request made by the company. The company is not provided with checkbooks for this account.
        
    B. A code will be given to each account to deposit funds into the account through the (RTGS) system from the accounts of the exchanges.
        
    C. An account will be opened using the Dollar  for each company, and they will be provided checkbooks for the purpose of withdrawing the dollars sold by the bank, provided that this bank provides the names on the authorized withdrawals and copies of their signatures. The checkbooks are to be authorized exclusively for the purpose of withdrawing the dollar for it's purposes.  
        
    D. As for the exchange, the companies will submit a formal letter signed and authorized (2 authorizations) entitled to The Direct General of Exchanges.

    3. The company's quantity sold in cash should not exceed 20% of the company's capital for the purpose of direct sales.

    4. Create units for supervising compliance and money laundering.

    5.  The money transfer companies are to provide us with the monthly balance, checked and signed by another legal accountant. This will show the extent of this company's commitment to instructions number 19 of the year 2014.

    With Respect,
    General Director of the Agency
    Abd Al-Abbas Khalaf Sultan
    slj9999
    slj9999
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    Posts : 137
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    Location : California

    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Re: Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by slj9999 Fri 30 May 2014, 8:07 pm

    So, is something up?   Think this has anything to do with what we have been waiting for all these years?
    Rocky
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Central Bank of Iraq announcement concerning money transfer comp

    Post by Rocky Sat 31 May 2014, 6:13 am

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    « on: Today at 07:05:48 AM »



     



    May 30, 2014
    The Republic of Iraq

    The Central Bank of Iraq

    To all exchange companies and money transfer companies

    Based on the provisions of paragraph 2 of Article 4 of the code of the Central Bank of Iraq, and the decision of the Board of Directors taken at meeting number 1511 on 4/30/2014, the agreement is as follows:

    1. All exchange companies are to purchase the dollar directly from the CBI (wire transfer or cash). This is done through submitting an application to the foriegn currency exchange window, following the mechanisims and instructions numbered 9/3/21 dated 1/26/2014.

    2. Opening accounts in the Dinar and Dollar for the exchange companies for this bank should be done through the banking system (ICBS) for the purpose of foreign currency purchase.

    This should be done in the following manner:

    A. Current accounts will be opened in Dinars through the (ICBS) banking system for every company according to the request made by the company. The company is not provided with checkbooks for this account.

    B. A code will be given to each account to deposit funds into the account through the (RTGS) system from the accounts of the exchanges.

    C. An account will be opened using the Dollar for each company, and they will be provided checkbooks for the purpose of withdrawing the dollars sold by the bank, provided that this bank provides the names on the authorized withdrawals and copies of their signatures. The checkbooks are to be authorized exclusively for the purpose of withdrawing the dollar for it’s purposes.

    D. As for the exchange, the companies will submit a formal letter signed and authorized (2 authorizations) entitled to The Direct General of Exchanges.

    3. The company’s quantity sold in cash should not exceed 20% of the company’s capital for the purpose of direct sales.

    4. Create units for supervising compliance and money laundering.

    5. The money transfer companies are to provide us with the monthly balance, checked and signed by another legal accountant. This will show the extent of this company’s commitment to instructions number 19 of the year 2014.
    With Respect,
    General Director of the Agency
    Abd Al-Abbas Khalaf Sultan 

    Central Bank of Iraq  PDF 
    [You must be registered and logged in to see this link.]
    [You must be registered and logged in to see this image.]
    weslin3
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Re: Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by weslin3 Sat 31 May 2014, 9:03 am

    So this dollar transfer is not for the regular citizen but for like US related business there in Iraq?
    Neno
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Re: Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by Neno Sat 31 May 2014, 11:41 am

    slj9999 wrote:So, is something up?   Think this has anything to do with what we have been waiting for all these years?
    Well the way I think your asking this I would say NO. This is the changes for exchange and transfer companies and probably one of the reasons Dinar Trade has done what they have, as the rules have changed and this way, a mechanism is designed to control money laundering.

    Now will it lead to the YES I think your looking for I would say yes as in the FOREX, you could consider this a step towards that... ;)
    Neno
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Re: Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by Neno Sat 31 May 2014, 11:43 am

    weslin3 wrote:So this dollar transfer is not for the regular citizen but for like US related business there in Iraq?
    Two part question.... Correct on not for the regular citizen and incorrect on the US Business's if you meant only as exchange and transfer companies are all over the world and this would apply to them all...  thumbs
    slj9999
    slj9999
    Understood Investor
    Understood Investor


    Posts : 137
    Join date : 2012-12-19
    Location : California

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    Post by slj9999 Sat 31 May 2014, 1:45 pm

    Thank You Neno  thumbs 
    weslin3
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    Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014  Empty Re: Announcement From CBI - To all exchange companies and money transfer companies - May 29, 2014

    Post by weslin3 Sat 31 May 2014, 11:16 pm

    Yes. Thanks again.

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