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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


    Clarification from the Association of Banks to the 964 network regarding imported dollar shipments

    Rocky
    Rocky
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    Clarification from the Association of Banks to the 964 network regarding imported dollar shipments Empty Clarification from the Association of Banks to the 964 network regarding imported dollar shipments

    Post by Rocky Thu 21 Dec 2023, 5:32 am

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    "Money transfer, not purchase"
    Clarification from the Association of Banks to the 964 network regarding imported dollar shipments


     2023-12-20 | 18:35


    964

    Director of the Iraqi Private Banks Association, Ali Tariq, told the 964 Network that Iraqi banks, based on the instructions of the Central Bank, were allowed to import foreign currency in various currencies, for the benefit of their customers who have incoming remittances from outside Iraq, indicating that the process makes it easier for banks to obtain cash and deliver it to its clients.
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    Governmental and private banks imported about $255 million within two weeks - a government source


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    He explained that when an Iraqi customer receives an external transfer, the transfer process is electronic and he needs to withdraw money from his account in Iraqi banks, and because the latter may not have sufficient liquidity in dollars, he resorts to withdrawing money from his accounts abroad and delivering it to his customers.
    The Iraqi Bank plays the role of mediator in the process, as the imported funds belong to it in its accounts outside Iraq, according to Tariq, who noted that importing funds does not mean buying them, but rather transferring cash from abroad to inside for the benefit of bank customers.
    Tariq confirmed that the coming period will witness operations to import money into banks, to meet customers’ demand for dollars.
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