24 private banks to sell the dollar at a lower price from the advertiser

24 private banks to sell the dollar at a lower price from the advertiser 
 


15-06-2013

 


The Association of private banks revealed on 24 Bank parents initiative to sell the dollar at a lower price from the advertiser in order to support the dinar and the dollar easily to citizens, the cost of this initiative, the Central Bank said its foreign exchange reserves will exceed 80 billion dollars at the end of July.
 

 

 

 

The dollar has risen gradually in the past days to 1,300 dinars after the exchange rate settled on 1180-1,200 dinars to the dollar for more than a year.
 

 

 

 

 

Executive Director of the private banks Abdul Aziz Hassoun, "there are 24 private banks to sell the dollar at a lower price than advertised, up to 1183 dinars to the dollar instead of cash, and 1,189 1,190 dinars to the dollar instead of 1184 for documentary credits".
 

 

 

 

 

Finch said in a statement, aimed at "private banks from this step to reduce the difference between the price of the dollar on the Central Bank and its price in the domestic market where the difference exceeds 10%, while in all countries of the world do not exceed the 2%".
 

 

 

 

 

The goldfinch "private banks waived some profits to contribute to lowering the dollar in local markets, because both the financial community and citizens feel great concern from the fluctuation in the exchange rate of the dollar.
 

 

 

 

 

He noted that most banks that contributed to this initiative (the Bank of Baghdad, Al-Huda, Assyria, Babylon, Middle East, Islamic Bank, National Bank of Abu Dhabi, Lebanese French Bank, the Bank of the Tigris and Euphrates, Mosul, Iraqi National Union), pointing out the existence of other banks on the way to lower the price.
In turn, the Central Bank welcomed the move as a natural behavior the most banks in the country. "
 

 

 

 

 

He said in a statement obtained by Central range that "came in support of the Iraqi dinar exchange rate and foreign exchange is accessible to citizens", praising "this initiative, which is the normal behavior of most banks in the country."
 

 

 

Meanwhile the Governor of the Central Bank said Abdel Basset Turki, the Reserve Bank would exceed $ 80 billion at the end of July next year, noting that there is a review of the mechanisms for the use of the Reserve Bank regardless of whether the current Government for specific purposes.
Turki said in the televised "Central Bank reserves now money and gold exceeded $ 75 billion" Reserve Bank would exceed $ 80 billion by the end of next month. "
 

 

 

 

 

He said "the Turkish Bank reserves by the end of the year 2013 will exceed this number", pointing out that "Iraq's gold reserve is managed by the Bank for international settlements in Switzerland.
The Governor of the Central Bank said that "under the current law the Bank can't contribute $ 1 to support the Government," Noting that "there is a review of the mechanisms for the use of the Reserve Bank regardless of whether the current Government for specific purposes.
 

 

 

 

 

Bank sources earlier revealed (11 may 2013), that the Iraqi Central Bank reserves of foreign currencies reached 74 billion dollars, noting that this was the highest achieved by the Reserve Bank in the country's history.
The Central Bank Adviser Mohammad Saleh appearance confirmed in May 2009 that Iraq's stock of reserve cash covered over the past years, walked out of the Government's financial power. Calling for the adoption of alternative ways to plug, including recourse to secondary market policies which have been agreed with the Government.
 

 

 

 

And last week, the Central Bank announced the cancellation of leave for an international company to buy and sell foreign exchange, attributed the cause to a "criminal" for one of the owners, with the Commerce Ministry called "take necessary action against the company.
 

 

 

 

 

The Director General said the Central Bank's Agency, Abdul Al-Abbas Khalaf said in a press release that "the Governing Council of the ECB decided at the 1499th meeting, held on the 15 of may last, the Cancel leave Contoso international mediation the buying and selling of foreign currencies," the Bloc's reason to "a criminal against one shareholder is maytham Moses."
 

 

 

 

 

He called behind the corporate registration Chamber of the Ministry of Commerce to "take cram as much your circle is concerned with providing us with a copy of the books of the company meeting minutes and authenticated by you", requiring "verify information provided by banks and companies about the absence of a criminal being the shareholders".



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