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[size=36]Iraqi Trade Bank: Financing small traders in dollars will not be through the Central Bank platform[/size]
political | 10:17 - 07/30/2023
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Baghdad - Mawazine News
The Iraqi Trade Bank TBI confirmed, on Sunday, that the process of financing dollar purchase requests from small merchants (shop owners) will not be through the electronic platform of the Central Bank, but rather through the bank directly, and while clarifying the process of transferring money abroad, it indicated that facilitating The access of this category to the dollar will contribute to a clear decline in the exchange rate.
Aqil al-Shuwaili, a media expert at the Iraqi Trade Bank, said, "According to the bank's recent decision, small merchants can now obtain dollars in an easy way, at the official price of 1,320 dinars, and with a monthly transfer ceiling of up to 100,000 dollars."
And he continued, "The financing process will take place outside the electronic platform of the Central Bank, which requires the presence of a registrar of companies, and financing takes place directly from the Iraqi Trade Bank, and the purpose of this procedure is to facilitate small merchants' access to dollars, especially since they make up 60% of those in the market, and we expect that this will contribute to a significant decline in the exchange rate." Notable because these traders will not have to buy dollars from the market.”
And he pointed out that "the process of receiving small merchants wishing to buy will start tomorrow, and what is meant by small merchants are shop owners and individuals who wish to finance commercial purchases from abroad." Ended 29 / H
The Iraqi Trade Bank TBI confirmed, on Sunday, that the process of financing dollar purchase requests from small merchants (shop owners) will not be through the electronic platform of the Central Bank, but rather through the bank directly, and while clarifying the process of transferring money abroad, it indicated that facilitating The access of this category to the dollar will contribute to a clear decline in the exchange rate.
Aqil al-Shuwaili, a media expert at the Iraqi Trade Bank, said, "According to the bank's recent decision, small merchants can now obtain dollars in an easy way, at the official price of 1,320 dinars, and with a monthly transfer ceiling of up to 100,000 dollars."
And he continued, "The financing process will take place outside the electronic platform of the Central Bank, which requires the presence of a registrar of companies, and financing takes place directly from the Iraqi Trade Bank, and the purpose of this procedure is to facilitate small merchants' access to dollars, especially since they make up 60% of those in the market, and we expect that this will contribute to a significant decline in the exchange rate." Notable because these traders will not have to buy dollars from the market.”
And he pointed out that "the process of receiving small merchants wishing to buy will start tomorrow, and what is meant by small merchants are shop owners and individuals who wish to finance commercial purchases from abroad." Ended 29 / H
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