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The central bank explains dollar sale mechanism and confirms the prosecution of money laundering
Date: 29/08/2016 11:22
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Information / Baghdad ..
The Central Bank, on Monday, issued a statement explaining the sale of hard currency mechanism, including the dollar, while the prosecution said the money laundering operations and the work of private banks.
According to a statement issued by the bank and received by the agency / information / copy of it, that "the Bank wishes to state that the sale of the currency window is the way to ensure the stability of the dinar exchange rate over the meeting of the Iraqi economy requirements by providing foreign currency to cover imports of the private sector goods and services, in addition to the needs of citizens for the purposes of travel, medical treatment, study outside Iraq. "
The statement added that "all this offers, despite the absence of any allocations in the budget since 2003 and so far for this purpose," noting that "the bank has worked to develop its procedures in this regard by encouraging banks to adopt the mechanism of opening letters of credit for the purposes of import instead of remittances style ".
And between the central bank, according to the statement, that "the proportion of sales in a manner credits amounted to more than 70% of foreign currency sales," stressing that "the development of a fundamental criterion for the implementation of dollar selling operations to banks include the extent of its commitment to the rules of the fight against money laundering and terrorist financing, as well as preparation and the application of standards for the electronic system for window sale and purchase of foreign currency (remittance). "
He pointed to the bank's statement that he "gave the government a greater role for the buying and selling of the dollar and the development and verification sources of funds used for the purposes of buying dollars to banks from the sale of foreign currency" .anthy / 25 t window
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[url][/url]Information / Baghdad ..
The Central Bank, on Monday, issued a statement explaining the sale of hard currency mechanism, including the dollar, while the prosecution said the money laundering operations and the work of private banks.
According to a statement issued by the bank and received by the agency / information / copy of it, that "the Bank wishes to state that the sale of the currency window is the way to ensure the stability of the dinar exchange rate over the meeting of the Iraqi economy requirements by providing foreign currency to cover imports of the private sector goods and services, in addition to the needs of citizens for the purposes of travel, medical treatment, study outside Iraq. "
The statement added that "all this offers, despite the absence of any allocations in the budget since 2003 and so far for this purpose," noting that "the bank has worked to develop its procedures in this regard by encouraging banks to adopt the mechanism of opening letters of credit for the purposes of import instead of remittances style ".
And between the central bank, according to the statement, that "the proportion of sales in a manner credits amounted to more than 70% of foreign currency sales," stressing that "the development of a fundamental criterion for the implementation of dollar selling operations to banks include the extent of its commitment to the rules of the fight against money laundering and terrorist financing, as well as preparation and the application of standards for the electronic system for window sale and purchase of foreign currency (remittance). "
He pointed to the bank's statement that he "gave the government a greater role for the buying and selling of the dollar and the development and verification sources of funds used for the purposes of buying dollars to banks from the sale of foreign currency" .anthy / 25 t window
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