Official: CBI News 02/22/2023

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

Posted 7 seconds ago

البنك المركزي يُعلن عن الحزمة الثانية من التسهيلات للحصول على العملة الأجنبية – وكالة الاولى نيوز (www-awla-news.translate.goog)

News Source /First News Agency

Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency.

The media office of the Central Bank said in a statement received by (Al-Oula News), that “further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following :

1- Financing foreign trade from China directly and in Chinese yuan currency will be regulated through two options:

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.

b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.

2- Facilities for financial transfers to the United States and Europe will be provided by the same mechanism later.

3- The documents required for submission for the aforementioned foreign remittances will be: a commercial list (invoice) only, or letters of credit, provided that the customer later provides the bank with proof of entry of the goods.

4- Detailed instructions will be issued that include the aforementioned.

5- Organizing financial settlements for agents of money transfer companies (Western Union and Money Gram) through Class A exchange companies through an Iraqi bank with one settlement account for all those companies.

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.

7- A table will be published containing the names of authorized agents and their locations, and citizens who wish to transfer personal amounts for various uses (such as family subsidies, or simple commercial uses) will be able to go directly to these agents (banks, exchange companies, or any other entities licensed by the Central Bank or It will be licensed later), for transfer at an exchange rate of (1320) dinars / dollars.

8- New uses will be added for the sale of cash dollars, which contributes to expanding the sale base for citizens to facilitate the payment of their obligations in US dollars, and in a manner that does not contradict our generalizations, and the directives previously issued by the government in this regard.

9- Allowing government and private banks and exchange companies of categories A and B to expand outlets for selling dollar cash in any of their branches, provided that this is exclusively through the FITR platform, while notifying us of the need to increase and diversify the geographical distribution of these outlets.

 

 

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

The Central Bank of Egypt announces the second package of facilities to obtain foreign currency (economy-news.net)

  

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Economy News-Baghdad

Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency.

The media office of the Central Bank said in a statement, "Further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following:

1- Financing foreign trade from China directly and in Chinese yuan will be regulated through two options:

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.

b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.

3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.

4. Detailed instructions will be issued, including the above.

5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.

7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.

8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.

9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets.

10 views

Added 2023/02/22 - 12:10 PM

Update 2023/02/22 - 12:16 PM

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[screwball]

🙏💥😎🎉

[screwball]

Just now, 6ly410 said:

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.

Boom!

 

Just now, 6ly410 said:

5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies

Boom!

 

1 minute ago, 6ly410 said:

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.

Forex….boom

[6ly410]

The Central Bank of Iraq announces the second package of facilities to obtain foreign currency

Wednesday 22 , February 2023 12:01 |EconomicalViews: 89

The Central Bank of Iraq announces the second package of facilities to obtain foreign currency (ninanews-com.translate.goog)

Bagdad (NENA) - The Central Bank of Iraq announced on Wednesday the second package of facilities to obtain foreign currency. A statement by the bank stated that: Further to what was announced in the first package of facilities provided by the Central Bank to achieve the stability of exchange rates, the second package will include the following: 1- Financing foreign trade from China directly and in The Chinese yuan currency will be organized through two options: a) The first option:

strengthening the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.
2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.
4. Detailed instructions will be issued, including the above.5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these Agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollars.
8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is done through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets./End8
 

[6ly410]

The Central Bank of Iraq announces the second package of facilities to obtain foreign currency

Economy | Today, 11:54 | 

The Central Bank of Iraq announces the second package of facilities to obtain foreign currency » Baghdad Today News Agency

 

Baghdad Today - Baghdad

Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency.

The bank's media office said in a statement received by (Baghdad Today), that "in addition to what was announced in the first package of facilities provided by the Central Bank to achieve the stability of exchange rates."

He added that the second package will include the following:

1- Financing foreign trade from China directly and in Chinese yuan will be regulated through two options:

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.

b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.

3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.

4. Detailed instructions will be issued, including the above.

5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.

7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.

8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.

9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets.

 

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

2023.02.22 - 11:54

The Central Bank announces the second package of facilities to obtain foreign currency (nasnews.com)

 

  

Baghdad - Nas  

The Central Bank of Iraq announced on Wednesday the second package of facilities to obtain foreign currency.  

 

  

  

The media office of the Central Bank said in a statement received by "NAS" a copy of it, (February 22, 2023), that "further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following:  

  

1- Financing foreign trade from China directly and in Chinese yuan will be regulated through two options:  

  

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.  

  

b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.  

  

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.  

  

3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.  

  

4. Detailed instructions will be issued, including the above.  

  

5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.  

  

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.  

  

7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.  

  

8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.  

  

9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets.  

[6ly410]

 

Urgent The Central Bank announces the second package of facilities to obtain the dollar

•  Time : 2023/02/22 11:52:09
•  
• CBE announces the second package of facilities to obtain the dollar - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} The Central Bank of Iraq announced the launch of the second package to stabilize exchange rates.

The second package includes the following: 1- Financing foreign trade from China directly and in the Chinese yuan currency will be organized through two options: a) The first option:

Strengthening the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.
2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.
3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.
4. Detailed instructions will be issued, including the above.
5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.
7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.
8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.
9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets.
 

 

[DanP]

Thanks!!

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

 

 

 Today, 11:52

Baghdad – Waa

Today, Wednesday, the Central Bank of Iraq announced the second package of facilities to obtain foreign currency.

The media office of the Central Bank stated in a statement received by the Iraqi News Agency (INA), that "further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following:

1- Financing foreign trade from China directly and in Chinese yuan will be regulated through two options:

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.

b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.

3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.

4. Detailed instructions will be issued, including the above.

5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.

6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.

7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.

8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.

9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets

[screwball]

Just now, 6ly410 said:

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.

Hmmmm…this we wait 

[6ly410]

 

The Central Bank of Iraq announced a number of new ways

10 minutes ago

Digital Event@Rudawkurdish

• Central Bank of Iraq announced a number of new procedures | Event.Net (rudaw.net)
• 

 

The Central Bank of Iraq, as part of its efforts to control the value of the dinar against the US dollar, announced a new number of procedures on Wednesday, 22-2-2023, which will be the second part of its procedures.

 

In the central bank's procedures, the Central Bank of Iraq said, arranging foreign trade financing with China directly, using chinese currencies. He also pointed out that other facilities for sending money to the UNITED STATES and Europe will then be presented with the same mechanism.

 

The Central Bank of Iraq has also said that documents requested for money to be processed abroad will be on the business list, or bank documents, provided the agent then presents the bank with the necessary documents that have brought the goods into Iraq.

 

Facilities will also be made for agents of money sending companies such as Western Union and Mongram, in one of Iraq's banks.

 

Another point of action is to allow each Iraqi citizen to make an hourly payment of 7500,1320 US dollars a month, the highest amount through remedial companies, at a price of <>,<> dinars per dollar. The Central Bank sells dollars to these companies at that price. For this purpose, the Central Bank will publish a list of trusted agents.

 

The Central Bank of Iraq has also noted that dollar sales are increasing in cities and are trying to exist in most cities.

[screwball]

8 minutes ago, 6ly410 said:

Facilities will also be made for agents of money sending companies such as Western Union and Mongram, in one of Iraq's banks.

Is this Bank of Baghdad? Remember they were launching their online app with Al Karmal to allow people to buy and sell shares in the ISX and make payements in upto 10 currencies.?

[screwball]

10 minutes ago, 6ly410 said:

He also pointed out that other facilities for sending money to the UNITED STATES and Europe will then be presented with the same mechanism.

So still has not been activated..

[6ly410]

 

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

Central Bank of Iraq | The Central Bank announces the second package of facilities to obtain foreign currency (cbi.iq)

 February 22, 2023

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Further to what was announced in the first package of facilities provided by the Central Bank to stabilize exchange rates, the second package will include the following:

1- Financing foreign trade from China directly and in Chinese yuan will be regulated through two options:

a) The first option: to strengthen the balances of Iraqi banks that have accounts with Chinese banks in Chinese yuan.
b) The second option: strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.

2- Facilities for financial transfers to the United States and Europe will be provided through the same mechanism later.
3- The documents required to apply for the aforementioned foreign financial transfers will be: a commercial list (invoice) only, or the priorities of the documentary credit, provided that the customer submits to the bank later proof of the entry of the goods.
4. Detailed instructions will be issued, including the above.
5- Organizing financial settlements for agents of money transfer companies (Western Union and MoneyGram) through category A exchange companies through an Iraqi bank with one settlement account for all those companies.
6- Citizens can transfer the amounts allowed to be transferred up to a maximum of (7500) dollars per month through the agents of the money transfer companies (Western Union, MoneyGram) at the official rate of (1320) dinars / dollar, and the Central Bank strengthens the accounts of these agents through the window of selling and buying foreign currency.
7- A table will be published that includes the names of the authorized agents and their locations, and citizens who wish to transfer personal amounts for different uses (such as family subsidies, or simple commercial uses), will be able to go directly to these agents (banks, exchange companies or any other entities licensed by the Central Bank or will be licensed later), to transfer at an exchange rate of (1320) dinars/dollar.
8- New uses will be added to the sale of cash dollars, which will contribute to expanding the base of sales to citizens to facilitate the payment of their obligations in US dollars, in a manner that does not conflict with our circulars, and the directives previously issued by the government in this regard.
9- Allowing government and private banks and exchange companies of categories A and B to expand the outlets for selling cash dollars in any of their branches, provided that this is through the FITR platform exclusively, while notifying us of the need to increase and diversify the geographical distribution of these outlets.

 

Central Bank of Iraq

Media Office

2023/2/22

[6ly410]

Iraq adopts the yuan in its foreign trade with China

Today 12:01

 

Iraq adopts yuan in its foreign trade with China | Information (almaalomah-me.translate.goog)

The central bank adopts the yuan in its foreign trade with China

Information/Baghdad ...The Central Bank of Iraq announced on Wednesday the second package of facilities to obtain foreign currency, including a reliance on the yuan currency to regulate foreign trade financing from China.
The media office of the Central Bank said in a statement received by the agency / Information / , that "further to what was announced in the first package of facilities provided by the Central Bank to achieve the stability of exchange rates."He added, “The second package includes organizing the financing of foreign trade from China directly and in the Chinese yuan currency through two options: a) The first option: strengthening the balances
of Iraqi banks that have accounts with Chinese banks in the Chinese yuan.b) Option II: Strengthening the balances of Iraqi banks through the accounts of the Central Bank to the ultimate beneficiary in the Chinese yuan currency through our accounts with JPMorgan and the Development Bank of Singapore.End/25

[6ly410]

A parliamentary committee hosts the governor of the Central Bank to discuss procedures for dealing with the exchange rate of the dollar

A parliamentary committee hosts the Governor of the Central Bank to discuss measures to address the dollar exchange rate (ninanews-com.translate.goog)

Baghdad / NINA /- Today, Wednesday, the Parliamentary Economy, Trade and Development Committee hosted the Governor of the Central Bank, Ali Al-Alaq, and bank management officials, to discuss procedures for dealing with the dollar exchange rate, revenues from the daily currency auction, and monetary policy.

[Retiredofficer]

Coming out of left field…what is the name of the machine banks use to validate currency?  2nd question…Thinking we can add JP Morgan to the list of banking/investing institutions that will exchange our dinar.

 

Edited February 22, 2023 by Retiredofficer

[Woldopep]

Even with my Dinar goggles, the 2nd package just shows more hurdles to jump over to exchange dinars for other currencies. I’m not being negative. I’m just not seeing what we all wait for. Looks like December for another swing at bat. I’m sure the Iraqis want their independence from America but America doesn’t want to let go. Once they let go, they lose control.

[6ly410]

The Central Bank of Iraq announced a second package to lower the dollarx?number=161834&babet=2&relat=1024

[6ly410]

The Central Bank announces the second package of facilities to obtain foreign currency

[6ly410]

Parliamentary Economy hosts the Governor of the Central Bank to discuss the dollar exchange rate

Posted 20 seconds ago

 

Parliamentary Economy hosts the Governor of the Central Bank to discuss the dollar exchange rate - Iraq News (iraqakhbar-com.translate.goog)

 

News Source /Iraqi News Agency (INA)

Baghdad - Waa - Wissam Al-Mulla

On Wednesday, the Parliamentary Economy, Industry and Investment Committee hosted Central Bank Governor Ali Al-Alaq to discuss the dollar exchange rate.

Committee member Kazem al-Shammari told the Iraqi News Agency (INA) that "the committee hosted the governor of the Central Bank Ali Al-Alaq to discuss the dollar exchange rate and market stability."

He added that "the committee also discussed the results of the visit of the Iraqi delegation to Washington, in addition to a number of other files."

[6ly410]

Trade with China in its currency. CBE issues the second package of dollar facilities

economy

Ultra Iraq

22-Feb-2023

THE SECOND PACKAGE OF CENTRAL BANK MEASURES (FACEBOOK)

 

On Wednesday, February 22, 2023, the Central Bank of Iraq issued the second package of so-called "facilities" to obtain foreign currency.

The Bank of Iraq announced the financing of foreign trade with China in yuan

Earlier this month, the CBE issued the first package of facilities to meet the demand for dollars in foreign transfers in cash.

The bank said in a statement seen by "Ultra Iraq", that the second package will include the following:

• Foreign trade financing from China will be regulated directly and in Chinese yuan
• Facilities for remittances to the United States and Europe will be provided through the same mechanism later
• The documents required to apply for the aforementioned foreign money transfers will be: a commercial list (invoice) only, or the priority of the documentary credit, provided that the customer submits to the bank later proof of entry of the goods.

The bank also said in its statement that "detailed instructions, including the above, will be issued later."

"Financial settlements for agents of money transfer companies (Western Union and MoneyGram) are regulated by category A exchange companies through an Iraqi bank with one settlement account for all these companies," he said.

According to the statement, citizens can transfer the amounts allowed to be transferred up to a maximum of (7500,1320) dollars per month through "agents of money transfer companies (Western Union, MoneyGram) at the official rate of (<>,<>) dinars per dollar, while the Central Bank enhances "the accounts of these agents through the window of buying and selling foreign currency."

The bank said it would "publish a table of the names and locations of the authorized agents", so that citizens will go to banks, exchange companies and others to "transfer personal amounts for different uses" at the official rate.

With the aim of "expanding the base of sales to citizens to facilitate the fulfillment of their obligations in dollars, the Central Bank announced that it will "add new uses to sell cash dollars in a manner that does not contradict our circulars and previous directives."

Through the "FITR platform exclusively", the bank announced that "government and private banks and exchange companies of categories A and B will be allowed to expand the outlets for selling cash dollars in any of their branches."

Earlier, the central bank issued the first package, the most prominent of which was increasing the ceiling of selling money for travel purposes to $ 7,<> per month, selling dollars through (Western Union, MoneyGram) for personal transfer purposes, and expanding the range of transactions allowed to be financed in foreign currency.

The second package also included measures to "expand and facilitate foreign transfer procedures" for some categories, and talk of covering demands for dollars and considering selling them at a higher price than the official "an act aimed at speculation or to cover illegal activity."

[screwball]

58 minutes ago, Retiredofficer said:

Coming out of left field…what is the name of the machine banks use to validate currency?  2nd question…Thinking we can add JP Morgan to the list of banking/investing institutions that will exchange our dinar.

 

Not sure mate all I know is jp is the major clearing bank for all USD. No USD comes into the country and goes out without going through JP Chase..yes they could exchnage your dinar..