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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


    The Central Bank confirms the safety and accuracy of external transfer operations on the electronic

    Rocky
    Rocky
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    The Central Bank confirms the safety and accuracy of external transfer operations on the electronic  Empty The Central Bank confirms the safety and accuracy of external transfer operations on the electronic

    Post by Rocky Sat Jul 22, 2023 8:33 am

    The Central Bank confirms the safety and accuracy of external transfer operations on the electronic platform in 2023

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    Against the backdrop of media news that some banks were denied dealing in US dollars due to their violation of international standards for foreign transfers in 2022.
    The Central Bank confirmed that the implementation of its instructions issued in 2023 for external transfers using the electronic platform will ensure the safety and accuracy of external transfers and achieve benefit for its dealers from dealing at the official fixed price, which is 1320 dinars. The important thing is that dealing by entering the electronic platform will protect our banks and financial institutions from penalties later.
    And that the US Federal Reserve and the US Treasury, while praising and supporting the central bank’s commitment to using the platform, had previously warned last year that it was conducting an audit of banks’ dealings with foreign transfers of the US dollar, and news came out at the time from US media sources confirming this, and indeed it turned out that the news was correct and the fourteen banks were actually included not to deal in their national currency, which is of wide international use.
    Although the restricted banks from dealing constitute only 8% of their dealings, this will not affect the dealings of our other banks, and the manipulation of speculators in the black market in manipulating the exchange rate of the Iraqi dinar will not continue and will stop soon due to the central bank’s call to the government to the necessity of monitoring, auditing, and establishing a mechanism to link the imports entering Iraq and what proves the existence of a fundamental and sound external transfer corresponding to its value in order to prevent the use of the black market to obtain cash dollars, which is the only source in which manipulation of the exchange rate occurs after using the electronic platform because remittances Foreign affairs and the opening of documentary credits and cash dollars through them are at the official rate.
    Therefore, I call on our banks, all exchange and money transfer companies, all financial institutions and related parties to encourage and motivate their customers, especially merchants and businessmen, to enter the electronic platform in order to ensure that they are not later deprived of dealing in US dollars because the recent sanctions of banks confirm the soundness of the Central Bank’s procedures to preserve the Iraqi banking system. In addition to the subjection of dealers to obtain dollars from the black market under Iraqi law.



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    Added 07/22/2023 - 2:49 PM


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