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Neno's Place Established in 2006 as a Community of Reality


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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


    Iraqi Central Bank Announces New Measures to Address Dinar Devaluation

    Rocky
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    Iraqi Central Bank Announces New Measures to Address Dinar Devaluation Empty Iraqi Central Bank Announces New Measures to Address Dinar Devaluation

    Post by Rocky Sun 05 Feb 2023, 2:25 pm

    Iraqi Central Bank Announces New Measures to Address Dinar Devaluation



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    ERBIL — The Central Bank of Iraq (CBI) announced on Sunday new measures aimed at protecting the country's banking and financial system from "unfair and suspicious" transactions.
    The announcement was made by CBI governor Ali Alaq, who held a meeting with the directors and chairmen of the boards of directors of public and private banks in Iraq.
    The Iraqi official noted that the central bank is "fully capable" of meeting all legitimate demands for the sale of dollars and that the new measures are the second phase in a plan to strengthen the country's financial system.
    He also emphasized that there are no internal or external restrictions on the sale and transfer of dollars in cash, and that the new measures are intended to protect the banking and financial system from "suspicious" processes.
    The CBI governor also ordered that requests for foreign remittances and cash purchases in Baghdad should not be restricted and that immediate measures should be taken to facilitate these transactions in bank branches across the country.
    The new measures are expected to be announced in the middle of this month and are seen as a positive step towards a more robust and secure financial system in Iraq.
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    Rocky
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    Iraqi Central Bank Announces New Measures to Address Dinar Devaluation Empty The central bank governor announces new measures to control the exchange rate of the dollar

    Post by Rocky Mon 06 Feb 2023, 4:41 am

    [size=36]The central bank governor announces new measures to control the exchange rate of the dollar[/size]

    Economie| 08:46 - 05/02/2023

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    Baghdad - Mawazine News
    The Governor of the Central Bank, Ali Al-Alaq, announced today, Sunday, that a second package will be issued in the middle of this month to control the exchange rate, while stressing that there are no internal or external restrictions on external transfer or cash sale of dollars.
    The media office of the Central Bank said in a statement, of which Mawazine News received a copy, that "the Governor of the Central Bank, Ali Mohsen Al-Alaq, met today with the heads of boards, general managers, and delegates of government and private banks, to put the necessary arrangements for the first package of measures to control the exchange rate into effect, and to clarify the procedures." And simplify it to achieve smoothness and speed in executing dollar purchase requests.
    Al-Alaq stressed, "the Central Bank's ability to meet all legitimate requests," noting that "a second important package will be issued in the middle of this month."
    He pointed out that "there are no restrictions, internal or external, on the external transfer or cash sale of the dollar, in compliance with the International Monetary Fund agreement that was ratified by the House of Representatives in 2018," noting that "the new system does not aim to restrict response to legitimate requests, as much as it aims to provide Protection of the banking and financial system from illegal or suspicious operations, support the application of the Anti-Money Laundering and Terrorist Financing Law and instructions related to it, and also promote the openness of the banking sector abroad, which it has been denied for decades.
    He stated that "the exchange rate is related to the lives of citizens and their purchasing capabilities, which should give its stability at the targeted levels a high priority, and that the efforts of the relevant concerned parties join forces to prevent harm to citizens," directing "
    And that "the Central Bank has begun to open new external channels and outlets to facilitate the conduct of external transfers and avoid the role of unqualified intermediaries to do so," warning "against exploiting the current circumstance to carry out unauthorized actions or activities that make the situation more difficult."
    He emphasized that "the Central Bank will take strict punitive measures against violators authorized by it," praising "the role of some banks in adhering to everything that achieves the desired goals."
    The Governor of the Central Bank, according to the statement, listened to the remarks and proposals of the meeting, and directed the Central Bank departments to "take the necessary measures regarding them," as it was decided to form a joint operations room between the Central Bank and banks, to follow up on the implementation of the first package of procedures, monitor phenomena, results and obstacles, and make appropriate recommendations in this regard. .
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