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April 05, 2022
The Central Bank of Iraq confirms the success of the electronic platform for letters of guarantee

 

 

 


The Central Bank of Iraq confirms the success of the electronic platform for letters of guarantee
 
Today, Tuesday, the Central Bank of Iraq called on state institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the financial solvency and correctness of the issuance of any letter issued by banks operating in Iraq.
The Central confirmed that the mechanism of issuing letters of guarantee through the electronic platform contributed to increasing the seriousness of contractors and contractors in implementing projects and protecting government institutions from contracting with fictitious companies and limiting their ability to access the projects to be implemented.
The Letters of Guarantee platform has completed issuing more than (30) thousand letters worth more than (9) trillion dinars during 2021, which confirms the success of the strategy of the Central Bank of Iraq in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to the control and inspection of the Bank. Iraqi Central.
It is noteworthy that the establishment of the electronic platform for registering letters of guarantee issued by licensed banks for the benefit of the governmental and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and reducing fraud operations. and counterfeiting.
 
Central Bank of Iraq 
information Office 
5- April - 2022
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The Central Bank of Iraq: The mechanism for issuing guarantees has become easier through the electronic platform
 

  

Baghdad - people   

Today, Tuesday, the Central Bank of Iraq called on state institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the financial solvency, and the validity of any letter issued by banks operating in Iraq.  

 

  


And the central bank confirmed, in a statement that “NAS” received a copy of it (April 5, 2022): “The mechanism of issuing letters of guarantee via the electronic platform contributed to increasing the seriousness of contractors and contractors in implementing projects and protecting government institutions from contracting with fictitious companies and limiting their ability to access the desired projects. implement it.”  

He added, "The Letters of Guarantee platform has issued more than (30) thousand letters worth more than (9) trillion dinars during the year 2021, which confirms the success of the strategy of the Central Bank of Iraq in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to oversight. and inspection of the Central Bank of Iraq.  


And he continued, "The establishment of the electronic platform for recording letters of guarantee issued by licensed banks for the benefit of government and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, organize the mechanism for issuing and renew letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and limiting the operations of fraud and forgery.  

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The Central Bank announces the success of the electronic platform for letters of guarantee
  
{Economic: Al Furat News} The Central Bank of Iraq announced, on Tuesday, the success of the electronic platform for letters of guarantee.

And the bank stated in a statement that {Euphrates News} received a copy of it, that “the mechanism for issuing letters of guarantee via the electronic platform contributed to a serious increase for contractors and contractors in the implementation of projects and the protection of government institutions from contracting with fictitious companies and limiting their ability to access the projects to be implemented,” calling on "State institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the solvency and correctness of the issuance of any letter issued by banks operating in Iraq."

He added that "the platform for letters of guarantee completed the issuance of more than (30) thousand letters worth more than (9) trillion dinars during the year 2021", stressing "the success of the strategy of the Central Bank in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to oversight and inspection of the Central Bank of Iraq.

And he added, "The creation of the electronic platform for recording letters of guarantee issued by licensed banks for the benefit of government and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and reducing fraud operations. and counterfeiting.”

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Today, Tuesday, the Central Bank of Iraq announced the success of the electronic platform for letters of guarantee.
 

The bank stated in a statement received by Alsumaria News, that "the mechanism for issuing letters of guarantee through the electronic platform contributed to a serious increase for contractors and contractors in implementing projects and protecting government institutions from contracting with phantom companies and limiting their ability to access projects to be implemented," calling on "state institutions and the private sector." To continue to follow the platform for letters of guarantee to ensure the financial solvency and correctness of the issuance of any letter issued by banks operating in Iraq.
 
 

He added that "the platform for letters of guarantee completed the issuance of more than (30) thousand letters worth more than (9) trillion dinars during the year 2021", stressing "the success of the strategy of the Central Bank in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to oversight and inspection of the Central Bank of Iraq.

And he added, "The creation of the electronic platform for recording letters of guarantee issued by licensed banks for the benefit of government and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and reducing fraud operations. and counterfeiting.”
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 money and business


Economy News - Baghdad

The Central Bank of Iraq announced, on Tuesday, the success of its strategy in organizing the issuance of letters of guarantee, calling on state institutions and the private sector to continue to follow the platform for letters of guarantee to ensure the solvency and correctness of the issuance of any letter issued by banks operating in Iraq.

 

The Central Bank stated, in a statement received by "Al-Iqtisad News", that "the mechanism for issuing letters of guarantee through the electronic platform contributed to increasing the seriousness of contractors and contractors in implementing projects and protecting government institutions from contracting with fictitious companies and limiting their ability to access the projects to be implemented."

 

He added, "The platform for letters of guarantee completed the issuance of more than 30 thousand letters worth more than 9 trillion dinars during the year 2021, which confirms the success of the strategy of the Central Bank of Iraq in organizing the issuance of letters of guarantee and increasing the confidence of the beneficiaries of letters issued by banks that are subject to the control and inspection of the Central Bank of Iraq. ".

 

He pointed out that "the establishment of the electronic platform for recording letters of guarantee issued by licensed banks for the benefit of the governmental and private sectors, comes within the efforts of the Central Bank of Iraq to develop banking work, and organize the mechanism for issuing and renewing letters of guarantee based on guarantees provided by individuals and companies and the credit rating of exporting banks, and limiting the operations of fraud and forgery.

 
 
Views 104   Date Added 05/04/2022
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Letters of guarantee ,guarantee the value of a currency basically. There could be no rv/ri without this insurance . The premium must be huge . Regarding the belief that Iraq can't rv/ri because there are too many dinars out there , I question this . The new dinar , printed at the expense of the U.S. in Switzerland , was very costly . and would suggest that there is not an endless supply out there. Also , the lower notes have not been available for purchase via internet for a long time . 

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