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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


    Strict Iraqi measures to prevent currency smuggling and to monitor banking work

    Rocky
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    • Post n°1

    Strict Iraqi measures to prevent currency smuggling and to monitor banking work Empty Strict Iraqi measures to prevent currency smuggling and to monitor banking work

    Post by Rocky Sat 25 Feb 2023, 9:57 am

    [size=47]Strict Iraqi measures to prevent currency smuggling and to monitor banking work[/size]

    Safaa Al-Kubaisi


    February 25, 2023
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    Efforts to control the monetary crisis (Getty)
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    [You must be registered and logged in to see this link.] issued  strict new directives to prevent currency smuggling and monitor banking work, which has recently affected the value of the Iraqi dinar, blaming the security services for a large part of the responsibility for holding violators accountable.
    This is taking place after dialogues and understandings concluded by the Iraqi banking delegation more than two weeks ago, with the US Federal Bank and the US Treasury Department in Washington, to limit the [You must be registered and logged in to see this link.] into Iran and the Syrian regime. To continue working together to modernize the financial system in Iraq, and to support Iraq's efforts to protect [You must be registered and logged in to see this link.]

    According to a statement issued by the Central Bank of Iraq on Friday evening, "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 brokers in buying and selling foreign currency.
    He discussed ways of coordination and procedures between the Central Bank and the concerned agencies, and defining roles and tasks in the light of the Prime Minister’s directives, stressing that the directive was to prevent the exit of cash across borders and outlets that exceed what is specified in the instructions of the Central Bank (10,000) ten thousand dollars, and that The security authorities concerned with following up vehicles and inspecting them on the roads and paths leading to the border to prevent smuggling and take legal measures in coordination with the Central Bank, while providing the bank with the amounts of banknotes discovered and their serial numbers.
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    [size=12]Arab economy
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    He added, “The sums sent by banks and companies to their branches are accompanied by documents from the sending party showing the details of the sender and the addressee, and they are presented at the points of external security barriers upon request.” Its business is done by non-affiliates, and that the Central Bank is the only entity responsible for monitoring banks, exchange companies, and non-banking financial institutions licensed by it.
    And he stressed that "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, brokers in buying and selling foreign currency, and their branches in all governorates."
    The Iraqi security services had recently monitored organized currency smuggling between the governorates, which prompted the ministry to take measures to reduce them. At the end of last month, the security authorities installed sonar devices on the external roads, in a step that comes to monitor cases of hard currency smuggling.
    Last month, the Federal Reserve Board (the Central Bank of America) imposed measures on foreign money transfers from Iraq, to ​​ensure that they do not reach Tehran and Damascus.
    Iraq seeks to abide by the implementation of the understandings it recently concluded with Washington, in order to revive the Iraqi dinar again, whose rapid decline in recent days put the country's economy on the abyss, and caused an unprecedented wave of high prices in the Iraqi market.
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