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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 issues recommendations to merchants and banks regarding exchange rates

    Rocky
    Rocky
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    • Post n°1

    The Central Bank issues recommendations to merchants and banks regarding exchange rates Empty The Central Bank issues recommendations to merchants and banks regarding exchange rates

    Post by Rocky Tue Dec 27, 2022 8:02 am

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    Today, Tuesday, the Central Bank of Iraq issued recommendations to merchants and banks about exchange rates .
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    [size]
    The media office of the bank stated, in a statement received by the Iraqi News Agency (INA), that "the board of directors of the Central Bank of Iraq held a meeting and discussed the repercussions and indicators of the rise in exchange rates in the local markets and what the foreign currency exchange rate has been exposed to for days, from temporary pressures resulting from internal and external factors.” .
    He added, “Given the adoption of mechanisms to protect the banking sector, customers and the financial system, as all foreign trade requirements (for the purposes of documentary credits or transfers) are fully covered by the official price (1465) dinars to the dollar for documentary credits and (1470) dinars to the dollar for transfers.”
    The Central Bank called on “merchants to review banks directly and not resort to brokers and speculators to avoid charging their imports with undue commissions and expenses, referring in this regard to what was issued by the Council of Ministers in its decision No. (351) for the year 2022 regarding non-payment of customs duties and amounts of tax secretariats in advance. This will reduce redundant loops, ease procedures, and remove costs resulting from pre-demarcation problems.”
    The Central Bank stressed, "Banks must shoulder their responsibilities in facilitating established and expiring procedures for their customers to ensure their access to financing with the best banking practices and with the least amount of loops, taking into account the legal requirements."[/size]
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