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Showing results for tags 'facilities to obtain foreign currency'.
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The Central Bank announces the second package of facilities to obtain foreign currency Posted 7 seconds ago البنك المركزي يُعلن عن الحزمة الثانية من التسهيلات للحصول على العملة الأجنبية – وكالة الاولى نيوز (www-awla-news.translate.goog) News Source /First News Agency Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency. The media office of the Central Bank said in a statement received by (Al-Oula News), that “further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following : 1- Financing foreign trade from China directly and in Chinese yuan currency will be regulated through two options: a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan. b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore. 2- Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later. 3- The documents required for submission for the aforementioned foreign remittances will be: a commercial list (invoice) only, or letters of credit, provided that the customer later provides the bank with proof of entry of the goods. 4- Detailed instructions will be issued that include the aforementioned. 5- Organizing financial settlements for agents of money transfer companies (Western Union and Money Gram) through Class A exchange companies through an Iraqi bank with one settlement account for all those companies. 6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency. 7- A table will be published containing the names of authorized agents and their locations, and citizens who wish to transfer personal amounts for various uses (such as family subsidies, or simple commercial uses) will be able to go directly to these agents (banks, exchange companies, or any other entities licensed by the Central Bank or It will be licensed later), for transfer at an exchange rate of (1320) dinars / dollars. 8- New uses will be added for the sale of cash dollars, which contributes to expanding the sale base for citizens to facilitate the payment of their obligations in US dollars, and in a manner that does not contradict our generalizations, and the directives previously issued by the government in this regard. 9- Allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches, provided that this is exclusively through the FITR platform, while notifying us of the need to increase and diversify the geographical distribution of these outlets.
