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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

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    An Iraqi-American agreement to enhance bank balances to finance Iraq’s imports of medicines and food

    Rocky
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    • Post n°1

    An Iraqi-American agreement to enhance bank balances to finance Iraq’s imports of medicines and food Empty An Iraqi-American agreement to enhance bank balances to finance Iraq’s imports of medicines and food

    Post by Rocky Sat 11 Nov 2023, 9:02 am

    [size=38]An Iraqi-American agreement to enhance bank balances to finance Iraq’s imports of medicines and foodstuffs[/size]


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    November 11, 2023[You must be registered and logged in to see this link.]
    Baghdad/Al-Masala Al-Hadath: Government sources revealed an Iraqi-American agreement to enhance bank balances to finance Iraq’s imports of medicines and foodstuffs.
    The sources stated that intensive meetings took place in Abu Dhabi in the past few days between a delegation from the Central Bank of Iraq and the American side responsible for foreign transfer operations to cover imports.
    The negotiations culminated in a number of decisions and mechanisms that contribute to facilitating procedures for foreign transfers related to imports through the foreign currency sales window.
    According to the sources, it was agreed to enhance the advance balance of five Iraqi banks in their dollar accounts with Jordanian banks and transfers via (JP Morgan).
    The problems related to rejected transfers were also resolved, and it was agreed that the rejection of transfers should be based on strong reasons.
    The sources indicated that other meetings took place that brought together an Emirati bank, the Central Bank of Iraq, and the American side to implement the mechanism for enhancing balances in the Emirati dirham for Iraqi banks (UAE Dirham pilot).
    She added that all the technical details have been resolved and it is expected that the mechanism for enhancing balances in UAE dirhams will begin within the next few days, while the sources confirmed the existence of serious negotiations that have reached their final stages to enhance the balances of some Iraqi banks in euros with UBAF Bank to finance trade with the European Union.
    She indicated that the number of banks whose balances in Chinese yuan are being strengthened has been increased through the Singapore Development Bank, and accounts have been opened for six Iraqi banks in this bank, and during the coming period 7 other banks will be added to finance Iraqi trade and imports from China, as these imports are estimated at about 12 billion dollars annually.
    It is expected that this mechanism will contribute to financing Iraq's imports from India, especially medicines and foodstuffs, which are estimated at about 3 billion dollars.
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