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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


    Trade with China in its currency.. The Central Bank issues the second package of dollar facilities

    Rocky
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    Trade with China in its currency.. The Central Bank issues the second package of dollar facilities Empty Trade with China in its currency.. The Central Bank issues the second package of dollar facilities

    Post by Rocky Thu 23 Feb 2023, 2:12 pm

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    22-February-2023
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    [ltr]THE SECOND PACKAGE OF CENTRAL BANK MEASURES (FACEBOOK)[/ltr]


    On Wednesday, February 22, 2023, the Central Bank of Iraq issued the second package of what it called "facilitations" to obtain foreign currency.
    The Iraqi Bank announced the financing of foreign trade with China in the yuan currency
    At the beginning of this month, the Central Bank issued the first package of facilities to meet the demand for dollars in foreign transfers in cash.
    And the bank stated in a statement, which was seen by “Ultra Iraq”, that the second package will include the following:
    • Foreign trade financing will be regulated directly from China and in Chinese Yuan 

    • Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later

    • The documents required for submission for the aforementioned foreign remittances will be: a commercial list (invoice) only, or initial documentary credit, provided that the customer later provides the bank with proof of entry of the goods.


    The bank also said in its statement that "detailed instructions, including the aforementioned, will be issued later."
    He stated that "organizing financial settlements for agents of money transfer companies (Western Union and Money Gram) through Class A exchange companies through an Iraqi bank with one settlement account for all those companies."
    According to the statement, citizens can transfer the amounts allowed to be transferred up to a maximum of (7,500) dollars per month through “agents of money transfer companies (Western Union and Money Gram) at the official rate (1,320) dinars per dollar, while the Central Bank reinforces” the accounts of these agents. Through the window of buying and selling foreign currency.
    And the bank stated that it “will publish a table of the names of authorized agents and their locations,” so that citizens will go to banks, exchange companies, and others to “transfer personal sums for various uses” and at the official rate.
    With the aim of "expanding the base of selling to citizens to facilitate the fulfillment of their obligations in dollars, the Central Bank announced that it" will add new uses for selling cash dollars in a way that does not contradict our circulars and previous directives.
    And through the “FITR platform exclusively,” the bank announced, “allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches.”
    Earlier, the Central Bank issued [You must be registered and logged in to see this link.] , the most prominent of which was increasing the ceiling for cash sales for travel purposes to 7 thousand dollars per month, selling dollars through (Western Union, MoneyGram) for personal transfers, and expanding the range of transactions allowed to be financed in foreign currency.
    The second package also includes procedures to "expand and facilitate foreign transfer procedures" for some categories, and talks about covering requests for dollars and considering selling them at a price higher than the official "an act aimed at speculation or to cover illegal activity."
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