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Iraq Banks Lift Transaction Restrictions For It's Citizens.


Luigi1
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from Guru BLC...

 

 

BLC CHAT:  The Iraqi government lifted the roof 04/23/2015

The Iraqi government lifted the roof of banking transactions for citizens

http://www.newsaliraq.com/inews.php?NewsID=315376

[tlm724] The Iraqi government lifted the roof of banking transactions for citizens, thats nice !

[tlm724] yeppers the Iraqi government lifted the roof on withdraws by an increase of $ 63,388 per transaction for large purchases like real estate etc...

[tlm724] the government's attempts to control the phenomenon of the adoption of the dollar in the Iraqi market through large daily transaction    

[RCS1947]  Very Happy   
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[tlm724] to control the phenomenon of the adoption of the dollar

[tlm724] to control the phenomenon of the adoption of the dollar

[tlm724] because of the scarcity of local currency

[tlm724] we better look at the whole article

[tlm724] The General Secretariat of the Council of Ministers directed to raise the ceiling certified instruments issued by private banks from 25 million dinars to 100 million dinars maximum procedural transaction

[tlm724] which is by citizens with government departments

[tlm724] we are working on the establishment of the Ministry of Finance to compel government departments to accept certified instruments issued by private banks, and coordination between the Finance and the Central Bank of Iraq and the Association of private banks to put controls and mechanisms are clear and specific to deposit employees and pensioners in private banks

[tlm724] to put controls and mechanisms are clear and specific to deposit employees and pensioners in private bank

[tlm724] so deposit their salraies in the private banks which will increase the banks liquidity and  include a guarantee the rights of depositors !!!

[tlm724] in addition to the establishment of the Iraqi Central Bank and government to study the possibility of banks lending to private banks to finance small and medium enterprises. "

[tlm724] so the state banks will provide funds for the private banks so as to increase the wheel of commerce

[tlm724] "The Committee decided that the Trade Bank of Iraq to open lines of credit to the private banks, under the supervision of the Central Bank of Iraq

[RCS1947] ease of banking for small business and individuals

[tlm724] yes RCS !

 

 


Luigi says...Pay very close attention to this one sentance...

 

[tlm724] The General Secretariat of the Council of Ministers directed to raise the ceiling certified instruments issued by private banks from 25 million dinars to 100 million dinars maximum procedural transaction


 
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