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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


    The Official Gazette: The exchange rate of the dollar decreased by ten thousand dinars

    rocky
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    • Post n°1

    The Official Gazette: The exchange rate of the dollar decreased by ten thousand dinars Empty The Official Gazette: The exchange rate of the dollar decreased by ten thousand dinars

    Post by rocky Sat 04 Feb 2023, 5:55 am

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    The official newspaper confirmed, on Saturday, a decrease in the exchange rates of the dollar in the country's markets, by a difference of more than 10 thousand dinars.

    Al-Sabah newspaper stated that "the exchange rate of $100 has decreased by more than 10,000 dinars,"

    and indicated that the prices have become as follows:
    Selling 161,250 dinars for every 100 dollars.
    Purchase is 160,250 dinars for every 100 dollars.
    Yesterday evening, Friday, the Central Bank of Iraq issued the first package of facilities to meet the demand for the dollar on both sides of cash and foreign transfers, after a meeting with the US Treasury.
    The procedures stipulated, according to a statement by the Central Bank, as follows:
    [list="color: rgb(51, 51, 51); font-family: Kufi, sans-serif; font-size: 14px; box-sizing: border-box; margin-bottom: 10px; padding-right: 50px;"][*]Increasing the ceiling of cash sales for travel purposes to $7,000 per month, and selling them exclusively to adults (18 years and over).

    [*]The sale of dollars for personal transfers will be through agents of money transfer companies (Western Union and Money Gram) at the official rate (1470) dinars to the dollar, and the Central Bank of Iraq will consolidate the balances of these agents in dollars at the official rate.

    [*]Expanding the scope of transactions allowed to be financed in foreign currency to include:

    [/list]
    • Importing goods and commodities that are legally permitted to be imported.

    • Purchase and supply of legally permitted services, including shipping services.

    • Financing the import part of the contracts of contractors with state departments.

    • Requests received by the Central Bank of Iraq from governmental and public institutions and self-financed entities for their needs for which there is no allocation in dollars within the federal general budget of the state, supported by official documents that support these requests.

    • Enhancing the balances of sub-accounts of banks and electronic payment companies opened with (GB Morgan) Bank, which has a major membership with international card companies (Visa, Master).

    • Enhancing the balances of the sub-accounts of the Iraqi financial institutions opened with Citibank, which has a major membership with international money transfer companies (Western Union, Money Gram) to settle their obligations with those companies after submitting the required statements.

    • Transfers for legal transactions for the purchase of real estate abroad.

    • Treatment abroad, and the transfer is from the account of the customer or one of his relatives of the first or second degree to the account of the hospital abroad after submitting a medical report from the concerned hospital.

    • Payment of tuition fees abroad, and the transfer shall be from the account of the student or one of his relatives of the first or second degree to the account of the university in which he is studying or to the account of the student himself in the country of study after submitting proof of his registration in the study certified by the Iraqi Cultural Attaché in the country of study.

    • Transfers related to foreign investments in Iraq.

    • Transferring the proceeds of the sale of shares distributed inside Iraq to an Iraqi residing abroad or a foreigner (the original value plus its returns, if any) in the event of selling them, provided that support is provided by the Iraqi Stock Exchange.

    • Compensation decided or approved by Iraqi official bodies for foreigners, or for Iraqis residing abroad.

    • Profits of shareholders in companies registered in Iraq duly.

    • Amounts of financial proceeds (sale of real estate or other assets or their returns) in Iraq to an Iraqi residing abroad, provided that the transfer is from his account or his agent’s account inside Iraq to his account or his company’s account abroad exclusively.

    • Due payments related to banking and credit facilities that the customer has with banks outside Iraq.


    [list=4][*]Expanding and facilitating external transfer procedures for the categories below, as a first stage, followed by other categories later, namely:

    [/list]
    • All types of companies registered with the Companies Registration Department at the Federal Ministry of Trade.

    • Projects registered with the General Directorate of Industrial Development at the Federal Ministry of Industry and Minerals.

    • Simple companies duly established by the chambers of commerce (according to an incorporation contract certified by a notary public) not exceeding an amount of (200,000) dollars (two hundred thousand dollars per month).

    • Branches of foreign companies registered with the Companies Registration Department at the Federal Ministry of Trade.

    • Investment projects of all kinds licensed by investment commissions.

    • Agricultural and animal projects licensed by the Animal Resources Department, the Agricultural Investments Department, or the Veterinary Department at the Federal Ministry of Agriculture.

    • Scientific offices duly licensed by the Pharmacists Syndicate.

    • Distributors of international factories are fixed to be appointed from these factories for the purpose of working in Iraq, and agents whose appointment is supported by the distributor to work in the Iraqi market are duly licensed to work in Iraq.

    • Agents of international companies registered in accordance with the commercial agency law in force.

    • All types of companies, factories, laboratories and projects licensed in the Kurdistan Region of Iraq after submitting proof of incorporation or licensing from the relevant sectoral authorities translated into Arabic legal translation


    [list=5][*]The Central Bank is obligated to cover all requests for dollars in cash and external transfers for all legitimate purposes, and thus every sale at a price higher than the official price becomes an act aimed at speculation or to cover illegal activity, and the Central Bank of Iraq is obligated to compensate the beneficiaries (importers) the amount of the difference that is more than the official price decided, This difference will be deducted from our offending bank account.
    [*]Another important package will be issued soon to stabilize the exchange rate and the general level of prices.
    [*]The Central Bank of Iraq is studying various proposals and scenarios related to the official exchange rate.
    [*][You must be registered and logged in to see this link.]

    [/list]
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