To prevent tourism companies from benefiting.. Mesopotamia reduces the sale of dollars to travelers by more than half[You must be registered and logged in to see this link.] |Today, 18:56[You must be registered and logged in to see this image.]
Baghdad today - Baghdad
Al-Rafidain Bank announced the establishment of a new mechanism, starting tomorrow, Wednesday, to sell dollars to travelers at the bank's outlet at Baghdad International Airport, according to which the ceiling for selling hard currency to them was reduced to more than half from the previous one.
And the media office of the bank stated, in a statement received by (Baghdad Today), that: “3000 dollars in cash has been set as a higher ceiling for selling dollars to travelers, instead of 7000 dollars and the official price of the Central Bank of Iraq of 1320 dinars.”
The statement indicated, "The deposit of the Iraqi dinar is through the designated branches and according to previous instructions that were previously announced."
And a Lebanese economic researcher revealed, on March 6, the mechanisms of smuggling dollars from Iraq through what he described as the "imaginary traveler", and the value of what tourism companies get for each traveler.
Ali Noureddine said in an article that I followed (Baghdad Today), that "the price of a travel ticket from Iraq to Beirut does not exceed $100, but this ticket entitles its owner - according to the rules of the Central Bank of Iraq - to buy $7,000 at the low official exchange rate, to spend it on Travel and accommodation needs.
He added that this procedure "opened the door for the abuse of this loophole by businessmen, exchange offices and tourism companies in Iraq, by sending groups of Iraqi youth to Beirut for very short periods, with the aim of benefiting from the (quota) to buy official dollars."
And he pointed out, "As a result of this process, these networks can get approximately $1,470 in net profit for every (fake) tourist sent in this way, as a result of the difference between the official exchange rate and the parallel market rate.