yota691 Posted November 21, 2021 Report Share mandatory reserve November 21, 2021 In view of the importance of the requirements for maintaining the mandatory reserve imposed on all authorized banks and in accordance with the Central Bank of Iraq Law No. 56 of 2004 amended Article (29) of it, and attached to our repeated circulars on the same subject, the last of which is Circulars No. 1671/3/6 on 6/14/2021 Paragraph (4) From it regarding the imposition of the penalty for the deficit in the account of the mandatory reserve. With regard to the inquiries received by your banks about imposing the fine, we would like to state the following:- The necessity for your banks to reinforce the balances of your current accounts in Iraqi dinars and US dollars with this bank when sending the mandatory reserve reports, provided that the amounts reinforced by you cover the amount of the mandatory reserve appearing in your report sent to this bank in dinars and dollars, in order to avoid imposing a deficit fine on the bank. Your banks should continue to follow up on strengthening your current accounts until the accounting department in this bank performs the procedures for booking the mandatory reserve for your banks, which take place during the first days of the month of holding the mandatory reserve and your balance is not relied on for the last day of the previous month. The process of withdrawing the amounts of the mandatory reserve is done through your current accounts with this bank exclusively, which are (119-129) for local banks and (179-180) for foreign banks in dinar and dollars. The amounts are not withdrawn from the balances of temporary accounts with this bank. We emphasize the necessity of informing this department/compulsory reserve section in case of any obstacles or problems before an appropriate period of time starts from the beginning of the month of holding the mandatory reserve so that this department can take the necessary measures in a timely manner and before imposing the disability fine. In the event of new government deposits with your banks, they are not included in the special deposit form and are confirmed in the government deposit form sent to you previously related to the mandatory reserve reports. We ask you to abide by the above, and we stress the need to adhere to all the instructions of the mandatory reserve and to strengthen the balances of your current accounts in dinars and dollars in order to avoid the imposition of a deficit fine on your banks, while checking the mandatory reserve reports and the schedules attached to them before sending them to this bank, provided that they are signed by two authorized persons and sealed with a live seal For all attachments and otherwise, your banks shall bear the imposition of fines, according to the instructions issued in this regard. 5 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank stresses the need to report suspicious transactions of money laundering November 21, 2021 The Central Bank of Iraq confirms the necessity of reporting suspicious operations that include suspicions of money laundering, based on the Anti-Money Laundering and Terrorist Financing Law of 2015, through the published reporting form. 3 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank of Iraq announces the controls for declaring funds November 21, 2021 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank of Iraq participates in the ceremony of completing the rehabilitation of the Sabean-Mandaean building November 21, 2021 His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Mokhiv, participated in the celebration of the completion of the rehabilitation and restoration of the sect building in Baghdad, with funding from the Community Initiative Fund sponsored by the Central Bank of Iraq, in which banks and non-bank financial institutions participate, and supported by the Association of Iraqi Private Banks. His Excellency the Governor stressed, during his speech at the celebration, which was attended by the Ministers of Culture, Immigration and Displacement, that the Community Initiative Fund exceeded the accepted limits in the banking sector, as it went to financing humanitarian, cultural, environmental and artistic activities and projects, pointing out that the Sabean-Mandaean building is no less important than the rest of the projects funded by the Fund. Because it has a human dimension linked to the importance of our people from this important sect in Iraq. For his part, the head of the Sabean-Mandaean sect in Iraq and the scholar Sheikh Sattar Jabbar Helou described the central bank’s move as a forerunner because it paved the appropriate religious atmosphere for the sect after rehabilitating the building, as well as the spaces that would be available for the sect’s members to practice their rituals. Central Bank of Iraq Media Office November 20, 2021 5 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share Gold bullion and coin prices for Sunday 11/21 until Thursday 25/11/2021 November 21, 2021 ( Citizens can review government and private banks to buy gold bars and coins ) Gold bullion and coin prices for Sunday 11/21 until Thursday 25/11/2021 the weight Price/JD picture/forward Photo/Back minted 15 g 1,447,250 coin 22 g 2,122,250 5 g ingot 454,000 slug 10 g 897,500 slug 15 g 1,349,250 slug 20 g 1,810,000 slug 25 g 2,271,500 3 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share In dollars.. Iraq sets the controls for declaring the money entering and leaving it 2021-11-21 00:36 Shafaq News/ On Sunday, the Central Bank issued controls related to a permit for funds entering and leaving the country, in order to "limit the entry and exit of funds across the Iraqi borders, and the exploitation of this in money laundering or terrorist financing operations." According to a statement issued by the Central Bank today, the controls are as follows: 2 3 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank announces the controls for declaring funds Time: 11/21/2021 08:35:07 Reading: 2002 times {Economic: Al Furat News} The Central Bank of Iraq announced controls for declaring funds in order to reduce the risks of entering and taking money across the Iraqi borders and exploiting it in money laundering or terrorist financing operations. 5 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank sets the controls for declaring funds.. "Infographic" Economie| 08:35 - 21/11/2021 Baghdad - Mawazine News The Central Bank sets the controls for declaring funds.. "Infographic" 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share The Central Bank publishes the controls for declaring funds Expenditures Economy News - Baghdad Today, Sunday, the Central Bank of Iraq published the controls for the declaration of funds. The Central Bank stated in a statement received by "Al-Iqtisad News", that this came "in order to reduce the risks of entering and taking money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, and the provisions of Regulations No. 1 of 2019 (amended to Regulations No. 1 of 2017). The Central Bank decided to allow the entry and exit of sums less than 10 thousand US dollars or its equivalent in other currencies without declaring them. As well as allowing the entry and exit of amounts exceeding 10 thousand US dollars to 20 thousand US dollars, provided that they are declared with the need to show what supports the purpose of entering and removing these amounts, and in the event that the supporting documents are not available, the traveler submits an undertaking to bring those documents within 30 days from the date of declaration. The Central Bank decided to prevent the entry and exit of amounts exceeding 20 thousand dollars or its equivalent in other currencies. The process of entering or taking out these amounts is through the financial institutions exclusively. It also prevented the entry and exit of sums of more than one million Iraqi dinars, even if it was declared, and the amount is seized and legal measures are taken against him. In the case of gemstones and precious metals, they must be declared if their value exceeds 10,000 dollars, according to the statement. The statement stressed the procedure for "declaring the bearer's negotiable financial instruments or transferring them inside or outside Iraq through a person, mail service, shipping service or any other means, whose value exceeds 10 thousand dollars." Views 165 Date Added 11/21/2021 3 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted November 21, 2021 Author Report Share Learn about the rules for transferring money while traveling Baghdad International Airport banks Economy News - Baghdad Today, Sunday, the Central Bank of Iraq published the controls for the declaration of funds. The Central Bank stated in a statement received by "Al-Iqtisad News", that this came "in order to reduce the risks of entering and taking money across the Iraqi borders and exploiting this in money laundering or terrorist financing operations, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, and the provisions of Regulations No. 1 of 2019 (amended to Regulations No. 1 of 2017). The Central Bank decided to allow the entry and exit of sums less than 10 thousand US dollars or its equivalent in other currencies without declaring them. As well as allowing the entry and exit of amounts exceeding 10 thousand US dollars to 20 thousand US dollars, provided that they are declared with the need to show what supports the purpose of entering and removing these amounts, and in the event that the supporting documents are not available, the traveler submits an undertaking to bring those documents within 30 days from the date of declaration. The Central Bank decided to prevent the entry and exit of amounts exceeding 20 thousand dollars or its equivalent in other currencies. The process of entering or taking out these amounts is through the financial institutions exclusively. It also prevented the entry and exit of sums of more than one million Iraqi dinars, even if it was declared, and the amount is seized and legal measures are taken against him. In the case of gemstones and precious metals, they must be declared if their value exceeds 10,000 dollars, according to the statement. The statement stressed the procedure for "declaring the bearer's negotiable financial instruments or transferring them inside or outside Iraq through a person, mail service, shipping service or any other means, whose value exceeds 10 thousand dollars." Views 43 Date added 11/21/2021 6 1 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted November 21, 2021 Report Share 19 minutes ago, yota691 said: It also prevented the entry and exit of sums of more than one million Iraqi dinars, even if it was declared, and the amount is seized and legal measures are taken against him. 6 1 1 Quote Link to comment Share on other sites More sharing options...
DWS112 Posted November 21, 2021 Report Share (edited) Google translation: Terms of declaring money In order to reduce the risks of entering and taking money across the Iraqi border and exploiting it in money laundering or terrorist financing operations. Based on the anti-laundering law Money and Terrorism Dependence No. 8 of 2018; and the enforcement of controls No. 1 for the year 2019 (amended to Regulation No. 1 for the year 2019?: The following should be adhered to: 1. It is allowed to enter or take out amounts less than (10,000) dollars (ten thousand US dollars). Or its equivalent in other currencies without declaring it. 2 It is allowed to enter or take out amounts exceeding (10,000) dollars (ten thousand dollars American) to (20,000) dollars (twenty thousand US dollars), provided that it is declared With the need to show what supports the purpose of entering or taking out these notifications; In the case of Unavailability of supporting documents, the traveler submits an undertaking to bring these Documents after one (1) day from the date of the permit. 3. It is prohibited to bring in or take out amounts exceeding (20,000) dollars (twenty thousand US dollars). Or its equivalent in other currencies. The process of entering or removing these amounts from exclusively through financial institutions. 4. It is prohibited to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars). Even if it has been declared, the amount is withheld, and legal action is taken against it. 5. Declaration of gemstones and precious metals if their value exceeds (10,000) Ten thousand dollars 6. Declaring the bearer negotiable financial instruments or transferring them inside Iraq or Outside it through a person, postal service, shipping service, or any other means Its value exceeds 10,000 US dollars? Edited November 21, 2021 by DWS112 10 2 2 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted November 21, 2021 Report Share 56 minutes ago, DWS112 said: 4. It is prohibited to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) That’s only $685. 1 2 2 4 Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 21, 2021 Report Share 3 hours ago, DWS112 said: It also prevented the entry and exit of sums of more than one million Iraqi dinars, even if it was declared, and the amount is seized and legal measures are taken against him. Does this mean each Dinar will be worth 2 cents? 1,000,000 x 2 cents = $20,000 That wouldn't be so great. 🤔 1 2 Quote Link to comment Share on other sites More sharing options...
Popular Post Laid Back Posted November 21, 2021 Popular Post Report Share “The Central Bank issued controls related to a permit for funds entering and leaving the country, in order to "limit the entry and exit of funds across the Iraqi borders, and the exploitation of this in money laundering or terrorist financing operations” This process is called Sterilization. The Central Bank seeks to limit the effects of inflows and outflows of capital on the money supply. It is designed to offset the effect of foreign exchange intervention. Fasten your seatbelt. Go CBI Go new monetary policy Go increase dinar exchange rate 5 2 4 11 Quote Link to comment Share on other sites More sharing options...
Carrello Posted November 21, 2021 Report Share Oh, boy!!! 3 6 Quote Link to comment Share on other sites More sharing options...
dinarham Posted November 21, 2021 Report Share 21 minutes ago, Laid Back said: “The Central Bank issued controls related to a permit for funds entering and leaving the country, in order to "limit the entry and exit of funds across the Iraqi borders, and the exploitation of this in money laundering or terrorist financing operations” This process is called Sterilization. The Central Bank seeks to limit the effects of inflows and outflows of capital on the money supply. It is designed to offset the effect of foreign exchange intervention. Fasten your seatbelt. Go CBI Go new monetary policy Go increase dinar exchange rate What circumstantially good news that this" sterilization " process has begun ! Travelling to Mexico from the US , you are allowed $10k USD . OK , put that in your pipe and smoke it. Quote Link to comment Share on other sites More sharing options...
davis411 Posted November 21, 2021 Report Share 5 hours ago, Floridian said: Does this mean each Dinar will be worth 2 cents? 1,000,000 x 2 cents = $20,000 That wouldn't be so great. Better then nothing 2 2 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted November 22, 2021 Report Share The question you should ask yourself is why $10,000 that is equivalent to 14,600.000 dinars is allowed.. And only 1,000,000 dinars that is equivalent to $684 is allowed. Only few people see this. Go CBI Go new monetary policy Go new exchange rate 1 2 4 5 Quote Link to comment Share on other sites More sharing options...
Carrello Posted November 22, 2021 Report Share LaidBack, Oh, boy!!! 2 1 Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 22, 2021 Report Share 1 hour ago, davis411 said: Better then nothing I guess so. Thanks Davis. Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 22, 2021 Report Share 17 minutes ago, Carrello said: LaidBack, Oh, boy!!! Carrello, you understand what Laid Back is saying. I guess I'm too dumb to get it. What kind of price is he talking about for the dinar? Quote Link to comment Share on other sites More sharing options...
HowieC Posted November 22, 2021 Report Share 3 minutes ago, Floridian said: Carrello, you understand what Laid Back is saying. I guess I'm too dumb to get it. What kind of price is he talking about for the dinar? Don't feel bad....maybe it's a Florida thing...my mind is gone 😄 3 Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 22, 2021 Report Share 2 minutes ago, HowieC said: Don't feel bad....maybe it's a Florida thing...my mind is gone 😄 Maybe so! 😂 I'm trying to figure all kinds of math. It's not $14.60 per dinar, is it? That would be totally insane. Nobody's currency is worth that much. Quote Link to comment Share on other sites More sharing options...
Carrello Posted November 22, 2021 Report Share 6 minutes ago, Floridian said: Carrello, you understand what Laid Back is saying. I guess I'm too dumb to get it. What kind of price is he talking about for the dinar? Floridian, a while back you said I was "stupid." Why would you be asking me? 3 1 Quote Link to comment Share on other sites More sharing options...
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