00:06 - 2023-02-25
The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, issued 5 new directives to stabilize the exchange rate.
And a statement by the Central Bank of Iraq stated, “The Governor of the Central Bank of Iraq, Ali Mohsen Ismail, received a number of leaders of the security services and owners of exchange companies and mediate in the sale and purchase of foreign currency. He discussed ways of coordination and procedures between the Central Bank and the concerned agencies, and defining roles and tasks in light of the directives of the Commander-in-Chief. for the Armed Forces.
He added, "During the meeting, the following was directed:
1- The Central Bank is the only entity responsible for monitoring and inspecting banks, exchange companies, and non-banking financial institutions licensed by the Central Bank, based on its law.
2- The transfer of cash (in dinars and dollars) and any other currencies is permitted inside Iraq for all natural and legal persons, including banks, exchange companies and mediation companies in the sale and purchase of foreign currency, and their branches in all governorates.
3- With the aim of preventing the exit of cash funds across borders and ports, which exceed what is specified in the instructions of the Central Bank (10,000) ten thousand dollars, the competent security authorities follow up and inspect vehicles on the roads and paths leading to the borders to prevent smuggling and take legal measures in coordination with the Central Bank, with Providing the bank with the amounts of the discovered banknotes and their serial numbers.
4- The sums sent from banks and companies to their branches are accompanied by documents from the sending party showing the details of the sender and the recipient, and they are presented at the external control points upon request, and in the event of a suspicion or a need for confirmation, a contact is made with the Banking Control Department at the Central Bank on the numbers (07809224663 - 07853330555). - 07721111418 )
5- Banks and companies shall notify the Central Bank in the event that they are subjected to procedures or inspection visits, or interference in their business by non-employees.
The governor praised, according to the statement, the role of the security authorities in detecting attempts to smuggle dollars in the past days.
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