CBI News 05/19/2020

[yota691]

Clarification related to foreign companies instructing in the matter of local letters of guarantee

 

  

 May 19, 2020

To all approved banks ( letters of guarantee )

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Number: 9/153

Date: 17/5/2020

 

Subsequently, the controls numbered (9/3/58) on 2/26/2015 and 9/20/1510 on 12/30/2019 and its annexed circular number 9/3/9 on 1/3/2020. With regard to foreign companies commanding the subject of domestic letters of guarantee, we would like to clarify the following : -

 

1. For companies that are not registered in Iraq, a corresponding foreign guarantee letter or insurance (100%) will be collected in cash from the amount of the issued letter, according to the above controls.
2. Companies registered in Iraq according to official documents and have actual presence and employment cadres, your banks can treat these companies with the treatment of Iraqi companies, provided you fully comply with obtaining guarantees of not less than (100%), including cash guarantees not less than (15%) of the total amount of the issued letter and according to the controls Above.
3. The aforementioned represents the minimum requirements regarding this type of facility, and in the event that the bank’s policy includes more precautionary procedures and requirements, this will reduce the severity of the risks surrounding your institutions to a large extent and in the public interest of all parties, and the extent of your commitment to the above controls will be followed up through Desk analysis of the data sent by you and the results of field visits.

[wc41]

We want them regulated only to the extent of daily function minus the chaos!!..... no bureaucratic juggernaut that needs

"De-regulating" 😮😮

[yota691]

A statement from the Central Bank of Iraq on unlicensed electronic payment cards

Economie

2020-05-19 | 06:31

 

 

 

 

 

1,292 views

 

 

The Central Bank of Iraq called on all citizens to take due care and follow instructions when using electronic payment cards.

In a statement, Alsumaria News received, a copy of it, calling on the bank not to deal with cards issued by companies not authorized by this bank, warning that it may expose them to fraud risks and the accompanying financial or legal risks.

 

 

He explained that citizens can benefit from the services of banks and licensed companies whose names are listed on the official website of the Central Bank of Iraq (www.cbi.iq).

[yota691]

The Central calls on citizens to take due care and follow the instructions when using electronic payment cards

 

Banks Economy News _ Baghdad On Tuesday, the Central Bank of Iraq called on all citizens to take due care and follow instructions when using electronic payment cards. The bank said in a statement received by "Al-Iqtisad News", calling on all citizens to take due care and follow the instructions when using electronic payment cards and urges them not to deal with cards issued by companies not authorized by this bank that may expose them to fraud risks and the accompanying financial or legal risks. He added that citizens can benefit from the services of banks and licensed companies whose names are listed on the official website of the Central Bank of Iraq (www.cbi.iq).

Number of views 35   Date added 05/19/2020

[yota691]

The central bank warns of payment card fraud

2020.05.19 - 13:34

 

Baghdad - people   

The Central Bank of Iraq warned, on Tuesday, of "fraud" that may affect users of electronic payment cards.  

The bank said in a statement that "people" received a copy of it, (May 19, 2020), "We call on all citizens to take due care and follow the instructions when using electronic payment cards, and calls on them not to deal with cards issued by companies not authorized by this bank, which may expose them to risks Fraud and the associated financial or legal risks.  

He continued, "Citizens can benefit from the services of banks and licensed companies whose names are listed on the official website of the Central Bank of Iraq (www.cbi.iq)."  

[yota691]

19-05-2020 01:24 PM

The central bank warns against dealing with cards issued by unlicensed companies

 

 

Baghdad / news

Today, Tuesday, the Iraqi Central Bank warned against dealing with cards issued by unlicensed companies.

In a statement, the bank called a copy of it, the bank called on all citizens to take due care and follow the instructions when using electronic payment cards.

He called on citizens "not to deal with cards issued by companies that are not licensed by this bank, which may expose them to fraud risks and the accompanying financial or legal risks."

He added: "Citizens can benefit from the services of banks and licensed companies whose names are listed on the official website of the Central Bank of Iraq ( www.cbi.iq) ."