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CBI News 10/01/2018


yota691
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Economy News Baghdad

The Central Bank of Iraq warned on Monday that electronic payment companies operating in Iraq would be able to broker foreign currency buying and selling transactions, stressing that it would impose fines on them if it applied.

A document issued by the Central Bank of Iraq obtained by "Economy News", that "the Central will impose a fine on electronic payment companies if it is proven that any port or a major agent or secondary exploits the name of the provider of the service to carry out transactions to broker the sale and purchase of foreign currency and remittances Outside the system of the service provider in addition to the legal liability borne by the company. "

The document explained that "the supplier is responsible for its competitors and agents based on Article (16 / I / E) of the electronic payment services of funds No. (3) for the year 2014."


Number of Views 34   Date Added 01/10/2018

 

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Central warns electronic payment companies to carry out buying and selling currencies
 
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Central Bank of Iraq
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Economy News Baghdad

The Central Bank of Iraq warned on Monday that electronic payment companies operating in Iraq would be able to broker foreign currency buying and selling transactions, stressing that it would impose fines on them if it applied.

A document issued by the Central Bank of Iraq obtained by "Economy News", that "the Central will impose a fine on electronic payment companies if it is proven that any port or a major agent or secondary exploits the name of the provider of the service to carry out transactions to broker the sale and purchase of foreign currency and remittances Outside the system of the service provider in addition to the legal liability borne by the company. "

The document explained that "the supplier is responsible for its competitors and agents based on Article (16 / I / E) of the electronic payment services of funds No. (3) for the year 2014."

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01-10-2018 All times are GMT +3
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The Central Bank of Iraq (CBE) on Monday warned e-payment companies from buying and selling currencies. 

The bank said in a statement that it would "impose a fine on electronic payment companies if it is proven that any outlet or agent major or secondary exploits the name of the provider of the service to conduct transactions to sell and buy foreign currencies and remittances outside the system provider. 

He added that 'these companies will also have a legal responsibility borne by the company as the provider is responsible for his competitors and agents based on Article 16/1 e of the system of electronic payment services for funds No. 3 of 2014'.

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Economy

Monday 1 October 2018 12:06 pm
Number of readings: 24

irq_1019878384_1538384788.jpg&max_width=300

BAGHDAD / The Central Bank of Iraq (CBE) warned on Monday that electronic payment companies would not be able to buy and sell currency.

The bank said in a statement that it would "impose a fine on electronic payment companies if it is proven that any outlet or agent major or secondary exploits the name of the provider of the service to carry out transactions to sell and buy foreign currency and remittances outside the system provider.

He added that "these companies will also have a legal responsibility borne by the company as the provider is responsible for its competitors and agents based on Article 16 I / E of the system of electronic payment services for funds No. 3 of 2014."

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Monday, October 1,
 
 
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Alsumaria News / Baghdad
warned the Central Bank of Iraq , Monday, electronic payment from carrying out buying and selling currencies companies. 

The bank said in a statement that it will impose a fine on electronic payment companies if it is proven that any port or agent, major or secondary, exploits the name of the provider of the service to carry out transactions to sell and buy foreign currency and remittances outside the system provider " .

 

 


He added that "these companies will also have a legal responsibility borne by the company because the provider is responsible for its competitors and agents based on Article 16/1 e of the system of electronic payment services of funds No. 3 of 2014." 

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

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CBI warns electronic payment companies from buying and selling currencies

 

CBI warns electronic payment companies from buying and selling currencies
 



 Twilight News    
 2 hours ago

The Central Bank of Iraq warned the electronic payment companies operating in Iraq from conducting transactions mediating the sale and purchase of foreign currency, stressing that he will impose fines on them if applied

A document issued by the Central Bank of Iraq addressed to the electronic payment companies that this bank will impose a fine on electronic payment companies if it is proven that any port or a major agent or secondary exploits the name of the provider of the service to carry out transactions to broker the sale and purchase of foreign currency and remittances outside The system of the service provider in addition to the legal liability borne by the company.

The document explained that the provider is responsible for its competitors and agents based on Article (16 / I / e) of the Electronic Payment Services No. 3 of 2014.

Keywords: 

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3 hours ago, yota691 said:

To all electronic payment companies ( uncles )

نود اعالمكم بأن هذا البنك سيقوم بفرض غرامة مالية على شركتكم ان ثبت بأن أي منفذ أو وكيل رئيسي او ثانوي يقوم
بأستغالل أسم الشركة المزودة للخدمة للقيام بعمليات التوسط ببيع وشراء العمالت األجنبية والتحويالت المالية خارج نظام
مزود الخدمة باإلضافة إلى المسؤولية القانونية التي تتحملها الشركة كون أن المزود هو المسؤول عن منافذ ووكالنه استتادأ
إلى المادة ) 1/أوأل/هـ( من نظام خدمات الدفع االلكتروني لالموال رقم )( لسنة 1
مع التقدير.,

 

translation:

We would like to inform you that this bank will impose a fine on your company if it is proven that any primary or secondary agent or agent is using the name of the service provider to carry out brokerage transactions for the sale and purchase of foreign currencies and remittances outside the service provider's system, (1) / (e) of the e-Payment Services System (No. 1) for the year 1 with appreciation.

 

Soooo....this means... NO DOLLARS for you?

 

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I think this is BIG. CBI saying they will be getting out of the auction business

and telling the banks.....don't do as i do (corrupt auction ) or you will be fined

big time.  That way the CBI will still be making money because most of the banks

are owned by crooks and will keep stealing but CBI is in compliance with all the 

authorities.

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The Central Bank warns electronic payment companies to carry out the sale and purchase of currencies

Readers

 

 

8
The Central Bank warns electronic payment companies to carry out the sale and purchase of currencies

 

01-10-2018 03:18 PM

 

The Euphrates -

 


The Central Bank of Iraq warned the electronic payment companies operating in Iraq to carry out transactions that mediate the sale and purchase of foreign currency, stressing that he will impose fines on them if applied.

A document issued by the Central Bank of Iraq addressed to the electronic payment companies that this bank will impose a fine on electronic payment companies if it is proven that any port or a major agent or secondary exploits the name of the provider of the service to carry out transactions to broker the sale and purchase of foreign currency and remittances outside The system of the service provider in addition to the legal liability borne by the company.

The document explained that the provider is responsible for its competitors and agents based on Article (16 / I / e) of the Electronic Payment Services No. 3 of 2014.

 

image.php?token=f956567402c71cae8bdf9afe

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7 hours ago, DWS112 said:

Could this mean they want to freeze electronic transactions of the dollar because an exchange rate change is about to occur?

:D lets go IQD ...when it comes to the CBI ..we got lots going on.... time for smaller notes!

Edited by 6ly410
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12 hours ago, gregp said:

I think they’re serious.

 

10 hours ago, DWS112 said:

نود اعالمكم بأن هذا البنك سيقوم بفرض غرامة مالية على شركتكم ان ثبت بأن أي منفذ أو وكيل رئيسي او ثانوي يقوم
بأستغالل أسم الشركة المزودة للخدمة للقيام بعمليات التوسط ببيع وشراء العمالت األجنبية والتحويالت المالية خارج نظام
مزود الخدمة باإلضافة إلى المسؤولية القانونية التي تتحملها الشركة كون أن المزود هو المسؤول عن منافذ ووكالنه استتادأ
إلى المادة ) 1/أوأل/هـ( من نظام خدمات الدفع االلكتروني لالموال رقم )( لسنة 1
مع التقدير.,

 

translation:

We would like to inform you that this bank will impose a fine on your company if it is proven that any primary or secondary agent or agent is using the name of the service provider to carry out brokerage transactions for the sale and purchase of foreign currencies and remittances outside the service provider's system, (1) / (e) of the e-Payment Services System (No. 1) for the year 1 with appreciation.

 

Soooo....this means... NO DOLLARS for you?

 

Sure does sound like someone means business.

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Last week the CBI told the banks to start lending money to small and medium enterprises to make profits....They can't profit from the currency window anymore. This week the CBI warned the electronic payment companies.

 

The foreign currency auction are coming to an end.

 

Go CBI

Go end of MCP

Go new Monetary policy 

Go RV

Go $1:1

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6 hours ago, 10 YEARS LATER said:

Just hope at some point they STOP talking and get to the Doing stage.

 

☝☝☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️☝️

At some point, like RIGHT NOW please!!!

 

Edited by Half Crazy Runner
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21 minutes ago, Laid Back said:

Last week the CBI told the banks to start lending money to small and medium enterprises to make profits....They can't profit from the currency window anymore. This week the CBI warned the electronic payment companies.

 

The foreign currency auction are coming to an end.

 

Go CBI

Go end of MCP

Go new Monetary policy 

Go RV

Go $1:1

:twothumbs:

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