The central bank decides to allow money transfer companies to buy dollar directly "without center ba

by **Rocky** Sun 01 Jun 2014, 4:44 am

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The central bank decides to allow money transfer companies to buy dollar directly "without center ba

by Rocky Sun 01 Jun 2014, 4:44 am

The central bank decides to allow money transfer companies to buy dollar directly "without center banks"

05/31/2014 16:28

Long-Presse / Baghdad

Decided the Iraqi Central Bank, on Saturday, the "Allow" to money transfer companies to buy the dollar, "directly" from the bank without the need "to center banks," and among the decision will apply "this week", he stressed that this process will help "stabilize the exchange rate Dinar and control of the Iraqi market. "

The central bank said in a statement received (range Press) copy of "The Board of Directors of the Central Bank decided at its meeting held on Saturday, allowing the money transfer companies to buy dollar directly from the bank to cover the money orders and cash in accordance with the mechanisms that were announced without the need to center banks."

The bank said in its statement that "the central bank to try this would help stabilize the exchange rate of the dinar against the dollar as well as control over the circulation of the dollar in the Iraqi market and not to manipulate it through the process of money laundering and smuggling."

Between the bank and that "this process will be among the mechanisms and procedures that will be followed by the bank will be applied during the current week."

The Iraqi Central Bank has decided, in the (April 21, 2014), allowing banking companies financial enter the currency auction "without broker", and stressed that this measure will contribute to the stability of the price of "dinar" and expands the auction of foreign currency, as pointed out that those companies will be "real partner" to support the economy.

The number of owners of banking companies financial, criticized Tuesday (3 December 2013), tough measures pursued by the central bank and the routine which controls procedures, and argued that they can not approach the Office of any employee to ask about the fate of their transactions, as emphasized that the central bank lacks regulations in its dealings, pointed out that what puts Bank of instructions and controls "and the harsh injustice."

The CBI, in (November 24, 2013), seeks to amend the banking laws, including the proportion to the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that going to play a developmental role of the Iraqi economy.

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