Currency window in more than local banks, foreign service

[Wiljor]

On 5/12/2017 at 3:02 PM, Laid Back said:

The Abu Dhabi Islamic Bank is getting dinar for capitalization purposes.

 

They're getting for an increases of the dinar exchange rate in the near future

 

Go RV

Go 2017

 

Morning brother Laid Back, looks like other want to capitalize on the potential increase of the IQD 

[Laid Back]

50 minutes ago, Wiljor said:

 

Morning brother Laid Back, looks like other want to capitalize on the potential increase of the IQD 

You're correct my brother

[yota691]

05/15/2017 (00:01 pm)   -   Number of readings: 577   -   Issue (3923)

 

 

Currency window in more than local banks, foreign service

 Baghdad / Zahraa Al-Jassem 
 

Data Central Bank of Iraq last week showed, on the results of the work of the sale of foreign currency window ( the dollar), that foreign banks accounted for the largest share, and Abu Dhabi Islamic Bank about four days the amount of $ 58.3 million out of Iraq, which the bankers saw discrimination in the central bank deal in favor of foreign banks on the local account without right, while criticized this proposal , experts asserting that, no ability of any bank to impose its control over the currency window whether foreign or local, but they acknowledge that the performance of foreign banks in Iraq involves problems in terms of providing credit and loan Od local businesses and even citizens, others believe that the Iraqi banking law does not include provisions held accountable for foreign banks, which allows them to catch a morsel that saturated better, including the sale of the currency window. 
The beginning of an economic source, who asked not to be named, says in an interview (range): foreign banks dominate today sell the currency in the central bank 's window, after it was controlled by the Iraqi banks auction, pointing out that, Abu Dhabi Islamic Bank transfer in four days the amount of $ 58.3 million out of Iraq, this means that the bank is being daily transfers worth 14-17 million dollars through the auction, and every one dollar it won 10 dinars, although foreign banks including Abu Dhabi Bank does not provide loans to citizens. 
A number of bankers have called earlier to develop more transparent standards limiting the acquisition of foreign banks to the larger quotas, at a time announced Transparency Association in Iraq, in a report, he said that "there is a discourse distinct unlawfully, given to the branches of foreign banks operating in Iraq 's facilities in the auction currency market at the national bank account. 
criticizes the economic expert Ahmed Bureihi talking about that foreign banks impose its control over the currency window of the Central Bank, saying that: talk is not true, there is no bank , whether foreign or locally can impose control on the currency auction never, and that the Central does not distinguish between banks in dealing with the currency window, and the process is done according to the instructions that include all banks, and therefore it did not distinguish between banks as some say. He adds: either the one hand , the performance of foreign banks in Iraq on the one hand to provide credits and loans to local businesses and even citizens and others , this is the problem , which is unfortunate, and it needs to be detailed treatments the fact that it relates to the business environment in Iraq and is another issue. 
regarding the fear of the possibility of financing terrorism at home through these banks Bureihi says: We are following inflows of Iraq, not money emerging from it, and who made available W about the need for a transparent and that there is discrimination in dealing in favor of foreign banks to talk about the criteria put forward, wondering: Why do not speak openly about their proposals in this regard and whether they are familiar with the central bank instructions on the currency window and they have to understand it.? Because they have to first understand the central instructions in this regard to talk later about the criteria they deem appropriate, the fact that public speech does not work, but even published in the newspapers about the central bank is a data taken from its lack of transparency , how accuse? If I have to criticize other criteria that must be put forward by specific words understood by the employee in the existing central bank accountant to legal to employee transfers and foreign banking works in electronics, because it is the result until the administrator will turn the proposals to these staff members to study and evaluate. 
Continues Bureihi said that branches of foreign banks do not get recognition from the central bank never, even in the case of determining the capital, and here when we talk about the branch he does not have the capital, but the central bank deposit required to the amount of branches of foreign banks only to hedge, while branch usually do not have the capital, because the capital is the banking company and not the branch, if the branch capital how we call it a label branch is not a bank, and does have a branch open bank Iraqi overseas capital is certainly the answer would be both. 
The expert says the name of Antoine, said that foreign banks have the right to get all the privileges obtained by local banks and, of course, the foreign banks exercise activities that achieve its profitability, and other activities do not fall out Kkhtabat security, guarantees and other things, as there is no law forcing these banks to exercise all activities, Valmsrv is a commercial enterprise considering profit oriented activities that achieve a profit, and the central bank can give signals to those banks need to exercise all activities like national banks but he can not force it . 
Continues to Antoine in an interview (range), the central bank 's policy is to seek to attract funds and foreign banks to operate in Iraq 's capital, where the Lebanese banks took the largest share, and here there must be follow - up and accounting and to treat foreign bank treats as Iraqi bank according to one law is the banks with everything the law of both capital and investments, loans and letters of guarantee, but which seems to be the law has no paragraphs hold them accountable on these activities, therefore they prey on the fat morsel that Chbahm better, stressing in the context of his speech: when we compare the market external parallel with the price of The Bank is the AK Thayer from 60 to 70 dinars per dollar This is a large sum, and although our comments on the sale of currency that should monitor and codifies, which is that the dollar sell directly to importers real industrialists and others, even the dollar for the goods and the goods are not Astbah, as there must be a platform What determines the import of goods which converts them and the amount that does not prevent her, firmly believe that the loss of import platform makes the currency auction is an effective tool to import goods and goods prices is unknown and may be used to finance terrorism from some banking offices.

[fnbplanet]

10 minutes ago, yota691 said:

"which allows them to catch a morsel that saturated better"

 

I'm going to try to use that phrase in normal conversation today.

 

Seriously, why can't they just take 25 cents USD from every barrel of oil that they sell (write it into the HCL) and stop bleeding USD through the auctions?  Put the quarters in the reserves and stop selling dollars to terrorists.