Home
Banks violate instructions and change citizens' transfers into dinars
Iraq 02/26/2024
[You must be registered and logged in to see this image.]
Baghdad: Huda Al-Azzawi
The Integrity Committee in the House of Representatives received several complaints about the failure of licensed banks to comply with the bank’s instructions regarding handing over to their customers their foreign transfers in cash from the bank’s own sources, “including withdrawing foreign currency from their accounts abroad,” according to the agreement between the bank and the customer.
Committee member, Abdul Amir Al-Mayahi, explained in an interview with Al-Sabah that “banks’ violation of instructions regarding converting customers’ transfers in foreign currency into the Iraqi dinar at a price set by the state at 132 causes severe harm to customers, due to the price difference,” describing it as “a violation.” Despite the directive of the Central Bank dated 12/31/2023, and its confirmation on 1/2/2024, then reaffirming the generalization for a period not exceeding nine days in
11/1/2024 on the necessity of adhering to the instructions of the Central Bank and taking into account the rights of customers.”
Al-Mayahi added, “The Central Bank directed that customers be given their transfers in dollars, not Iraqi dinars, and that the banks should inform the Central Bank of the amounts they need for cash dollars to meet their customers’ requests,” indicating that “the banks, unfortunately, did not respond to the call of the Central Bank, did not implement the instructions, and are still delivering external transfers to customers in dinars.” . He pointed out that "the Integrity Committee will have a major role in relation to these violations, especially since there is talk within the committee to begin hosting the Governor of the Central Bank and the advanced staff in the coming days, in addition to the directors of licensed banks to examine the violations committed by them." Al-Mayahi stated, “Council of Ministers Resolution No. (23.26) of 2023 emphasized taking into account dealing in the Iraqi currency and supplying the dinar, and this does not apply to converting foreign remittances to the dinar,” and said: “This is a clear violation and quick decisions will be taken regarding it by the committee.” In turn, Deputy Governor of the Central Bank, Ammar Hamad, said in an interview with “Al-Sabah” that “the citizen harmed by the company or banks must formally address the Central Bank to verify whether he is covered by the instructions or not.” Hamad added, “Follow-up is one of the duties of the Central Bank to determine the damages that befall the citizen, or those resulting from the banks’ failure to cooperate in accordance with the circular received, and therefore the affected person must submit a complaint and explain the situation for it to be audited, in order to take the necessary measures.”
Edited by: Ali Abdel Khaleq
[You must be registered and logged in to see this link.]
» The Presidency of the Kurdistan Region rejects the forced return of displaced Iraqis
» The Ministry of Electricity in the Kurdistan Region announces the gradual return of energy
» Parliamentary Committee: The amounts of money at the Ministry of Electricity are not commensurate wi
» Professional ethics: theoretical and methodological imperatives and economic transformation
» An “elaborate ambush” befalls a foreign currency speculator in Baghdad
» The Prime Minister confirms that he will continue to address the problems that the outskirts of Bagh
» Iraq Fifth: 10 Arab countries that consume the most electricity
» A country neighboring Iraq launches a geographical survey project to locate renewable energy sources
» “Mystery dominates the project.” Parliamentary Committee: We do not have information about the inves
» It included filling in fish lakes and burying wells... removing 24,000 water encroachments
» Diwaniyah witnesses the launch of the largest package of projects in Iraq
» Iran competes with Iraq to rank as the “worst” country in the world for burning gas
» Iran competes with Iraq to rank as the “worst” country in the world for burning gas
» Iran competes with Iraq to rank as the “worst” country in the world for burning gas
» Iran competes with Iraq to rank as the “worst” country in the world for burning gas
» Karim Hammadi discusses with the Arab States Broadcasting Union the “Baghdad Summit”
» Representative immigration: Weak services hinder voluntary return
» Democratic Party: The Sunni blocs must decide their candidate for the presidency of Parliament
» Iraqi children are outside the list of {armed conflicts}
» The beginning of next July.. Trade launches the construction basket
» "Early elections"... difficulties prevent their holding
» Integrated projects
» Experts: The path to development is the beginning of an economic partnership
» The "short life" of the government puts Baghdad's administrative authority to the test and a proposa
» In preparation for sending it to Baghdad.. The Kurdistan government finalizes the payrolls of its em
» The Ministry of Electricity is a “black box”.. The Baghdad Council knows nothing about the plans and
» Prime Minister: The new residential city of Ali Al-Wardi will be the largest city in the history of
» A representative is dissatisfied with the large number of “holidays” in Iraq: Friday and Saturday mu
» The Minister of Electricity orders the introduction of modern 11 kV feeders in two areas in Baghdad
» Planning announces the completion of one hundred and twenty delayed projects and the continuation of
» Water Resources announces the removal of more than 24,000 encroachments across all governorates
» The cessation of gas supplies causes a power outage in the region
» Hamas reveals the truth about moving its office from Doha to Baghdad
» Al-Sudani chairs a meeting to follow up on the implementation of networking between border crossings
» An American magazine advises Washington and confirms: The invasion of Iraq strengthened Iran’s power
» Official statistics: 85 billion dinars saved from fires in Iraq since the beginning of 2024
» The Kurdistan Region Presidency sets next October 20 as the date for parliamentary elections
» A high-level joint meeting to find a “tax mechanism” for petroleum products
» Scientific American: Homeschooling Parents Need to Undergo Background Checks
» Netanyahu: We are fighting on 7 fronts, including Iraq
» Al-Sudani : Imam Ali's lessons on righteousness, Social Justice, and Equality will guide the governm
» Iraq: Global indicators confirm oil prices to keep growing
» The Cabinet holds the 25th regular session, decisions included
» utube 6/25/24 MM&C Iraq Dinar - Iraq to Rejoin WTO - Cetral Bank Pressing Banks & Money Exhangers
» utube 6/23/24 MM&C Iraq Dinar- IQD Update -Iraq Reap Beneifits Artificial Inteligence-Global Econo
» utube 6/24/24 CBI Begins Second Phase of Reform RE Boom 120 °F and Rate Expectations
» Will health insurance cover all citizens and hospitals? Parliamentary Health answers
» Advanced technologies...Iraq's weapon to control the borders after removing the Iranian opposition a
» Legal: Ambassadors' offensive statements allow the host country to expel them
» Securities warn against trading digital currencies
» A representative points out 7 controversial points that stand before the legislation of the oil and
» A representative reveals the latest details of the proposed legislation of the Marsh Law
» An American convoy arrives at Ain al-Assad base, coming from Dhi Qar
» Kurdistan Regional Government: Failure to implement the Sinjar Agreement threatens international pea
» Basra Council: We are serious about activating the law on Basra, the economic capital of Iraq
» Minister of Interior: We are about to cross the threshold of issuing 39 million national cards
» Parliament Finance recommends that the Ministries of Finance and Planning release instructions for i
» Chinese May Be ‘Probing’ American Military Readiness Through Base Breaches, Lawmaker Says
» “There are many problems.” A parliamentary committee submits a request to the government regarding t
» Canadian oil replaces Iraqi crude on the American West Coast
» A new jump in dollar prices on the Baghdad Stock Exchange
» Health reveals the details of the second phase of health insurance: We have completed contracting pr
» A representative identifies the governorates most affected by water scarcity
» Parliamentary Committee: The amounts of money at the Ministry of Electricity are not commensurate wi
» An international report talks about the electricity crisis in 2024: 7 Arab countries, including Iraq
» A parliamentary committee recommends that the Ministries of Finance and Planning issue instructions
» What are the chances of independents in the upcoming Kurdistan region elections? - Urgent
» “The region’s reputation has been damaged.” A Kurdish acknowledgment of the impact of the absence of
» An expert expects economic growth in Iraq to decline during 2024
» Security expert: The American presence in Iraq will cast a shadow on the political and security scen
» Oil Minister: Iraq will stop importing gas after completing investment projects
» Minister of Electricity: There is a surge in loads and we are working to raise the level of energy p
» The head of the Integrity Commission announces a new strategy to combat corruption
» North Refineries reveals its plans and confirms the imminent addition of 6 refining units
» The Ministerial Council for the Economy approves the national lending strategy
» Justice directed the opening of a sixth registration division in the Real Estate Registration Direct
» Integrity arrests the head of the purchasing committee at the Babel Cement Factory on charges of har
» An American court accepts the appeal of pharmaceutical companies.. What is the relationship with Ira
» The Strategic Planning Committee is preparing to deliver its assessment of the work of ministers and
» Report: Hamas security teams in Baghdad to prepare procedures for the transfer of leaders from Qatar
» The first official comment from Hamas about “plans for moving to Iraq”
» The dollar continues to rise.. Learn about the exchange rates in Iraqi markets
» “The cheapest is $200,000.” Exaggerated prices for apartments in the complexes that ordinary citizen
» Labor launches (Al-Ghadeer Platform).. Find out its details
» Implementation of an arrest warrant against the director of a government bank in Anbar
» Parliamentary recommendation for Finance and Planning to launch instructions for implementing budget
» The Sudanese advisor details the Basra Haditha pipeline project: it has entered the preparation stag
» utube 6/22/24 MM&C IQD Update - Iraq Dinar - Investment Law - Implementation Tripartite Budget - Ra
» Central Bank: Explains the mechanism for imposing fines on private banks and money changers
» Wasted billions and continuous interruptions.. Calls for an investigation into the corruption of the
» Can the Iraqi government maintain neutrality after factional statements about readiness to participa
» Intensive US aircraft flights in the areas of the Iraqi-Syrian border strip
» An economist expects the dollar exchange rate to approach the 140,000 threshold
» The President of the Republic calls for amending laws related to investment
» More than $274 million...Central Bank sales today
» The fact that oil and gas production in Iraq was affected by the peak of the heat wave...an expert e
» The President of the Republic: The necessity of overco ming obstacles facing investors, as well as s
» The President of the Republic stresses the need to continue efforts to preserve public money and com