Official: CBI News 05/21/2023

[yota691]

Transfer commissions

 

  

May 21, 2023

   

Referring to the approval of the Prime Minister on 4/5/2023 for all licensed banks to reduce commissions for foreign currency transfers, and to publish the percentage of these commissions on their official websites, and the violating bank will bear the necessary fines and penalties, including deprivation of the external transfer process.

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[yota691]

Public bidding for the sale of consumables

 

  

 May 21, 2023

   

Announcement issued by the Central Bank of Iraq

 

The Central Bank of Iraq - Baghdad announces a public auction for the sale of consumables belonging to the Central Bank, according to the attached tables (1-3-4-5-6-7-8-9) according to the Sale and Rent Law No. (21) of 2013. Those wishing to enter By public bidding, come to the Al-Nahda garage site affiliated to the Central Bank in Al-Nahda, next to Al-Nahda showrooms, and the call time will be at ten o’clock in the morning on Wednesday corresponding to 5/31/2023, bringing with them the supporting documents ( original + color copy) and the amount of insurance of (5,000,000) five million Dinars in cash for (20%) of the estimated value, which amounts to (24,350,000) twenty-four million, three hundred and fifty thousand dinars, provided that whoever wins the bid bears the expenses and fees for publishing the advertisement.

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» To view the tables of consumed and surplus materials , click here

[yota691]

The Central Bank issues instructions regarding prepaid cards

 

  

May 21, 2023

   

The Central Bank of Iraq issued instructions and controls regarding prepaid cards addressed to banks and electronic payment service providers, to take into account compliance with the instructions in accordance with approved international best practices, and to preserve the public interest .

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[yota691]

In the document, the Central Bank issues instructions regarding prepaid cards

• Time: 05/21/2023 11:07:41
•  
• Read: 2,704 times

  

{Economic: Al Furat News} The Central Bank of Iraq issued instructions and controls regarding prepaid cards addressed to banks and electronic payment service providers, to take into account compliance with the instructions in accordance with approved international best practices, and to preserve the public interest.

[yota691]

In the document .. instructions regarding prepaid cards issued by the Central Bank of Iraq

PM:12:25:21/05/2023

736 views

 

Today, Sunday, the Central Bank issued new instructions regarding prepaid cards,  pointing to the observance of the principle of “know your customer.”
 

In a statement, NRT Arabia received a copy of it, the bank stated, “In light of the Central Bank’s directives to publish electronic payment gateways and adopt payment systems in financial transactions in order to increase the percentage of financial inclusion and provide local and international financial and banking services to all segments through the use of prepaid cards.” Taking into account the principle of “know your customer” and the rules of compliance with the instructions issued, banks must adhere to the following controls:

 

1- The maximum balance of prepaid cards shall be (10) million Iraqi dinars or its equivalent in other currencies.

2- The monthly recharge limits for prepaid cards are (10) million Iraqi dinars, and it is your responsibility to refuse any recharge operations for the card that exceed the upper limit of the balance mentioned above.

3- Set a maximum daily and monthly card transactions limit as follows:

Determining the value of withdrawals through automated teller machines (ATMs) to be ($300) per day or its equivalent in other currencies, provided that cash withdrawals do not exceed ($3,000) per month.

Determining purchases through points of sale to be ($750) per day or its equivalent in other currencies, provided that it does not exceed the card’s monthly ceiling.

4- Banks and electronic payment service providers licensed by this bank are allowed to issue and recharge (prepaid) cards, and to grant exchange companies of category A and B and their branches exclusively marketing and selling these cards for the benefit of the issuing authority and to recharge them, and all entities not licensed by this bank are prohibited from practicing The above activity as of 7/15/2023.

5- Prohibition of types of transactions according to merchant category codes (MCC) associated with high-risk financial activities, and we include below (MCC) codes that are prohibited to deal with (-6051-6050-6012-5972-5960-5944-5933-5932-5094-4829 -(6211-6300-6513-6532-6533-6534-6536-6537-6538-6540-7012-7995-8398 Details are attached.

6- All issuers have the right to issue one active prepaid card to the same customer after submitting the identification documents (card holder identity / passport), taking into account that the customer’s name is affixed to the card. It is not allowed to issue and recharge cards to unknown persons without providing the supporting documents.

7- Due diligence measures are taken when issuing and reloading by the card issuers according to the controls issued by this bank and the applicable anti-money laundering and terrorist financing law and the instructions and controls issued pursuant thereto, and any suspicious activity is reported to the competent authorities (Anti-Money Laundering and Terrorism Financing Office) For the purpose of helping to detect and contain illegal activity early.

8- It is your responsibility to conduct regular reviews of prepaid card transactions and take additional actions regarding customers who frequently use their prepaid cards for purchases and cash withdrawals or carry out improper transactions according to the scenarios specified by the Anti-Money Laundering and Terrorism Financing Office.

9- Providing awareness programs to your customers about the risks associated with prepaid cards and how to use them safely.

10- Cards linked to mobile phone wallets shall be treated as prepaid cards and shall be subject to the same terms and conditions mentioned in this circular.

11- Cards issued before the date of issuance of this circular and do not bear a name are effective until the date of 8/1/2023 or the exhaustion of their balance or whichever is earlier, and they are not reloaded and the limits referred to above and the aforementioned merchant category symbols are applied to them, and banks and companies must take the necessary measures to replace them By virtue of this circular.

[yota691]

Document .. The Central Bank of Iraq issues instructions regarding prepaid cards

2023-05-21 04:00

 

 

Shafaq News/ Today, Sunday, the Central Bank of Iraq issued instructions and controls regarding prepaid cards addressed to banks and electronic payment service providers, to take into account compliance with the instructions in accordance with approved international best practices, and to preserve the public interest.

 

 

 

 

 

[Fimum]

Anyone familiar with these "prohibited" transaction codes? Are these international transaction identification codes? Thanks in advance!

[yota691]

The Central Bank issues instructions regarding prepaid cards

2023.05.21 - 11:23

 

Baghdad - people  

On Sunday, the Central Bank of Iraq issued instructions and controls regarding prepaid cards, directing banks and electronic payment service providers, to take into account compliance with the instructions in accordance with approved international best practices.  

  

 

  

  

[6ly410]

With documents. The Central Bank issues instructions on prepaid cards

Sunday 21, May 2023 11:22 |EconomyViews: 428

With documents. The Central Bank issues instructions on prepaid cards (ninanews-com.translate.goog)

Baghdad /Nina/ The Central Bank of Iraq issued instructions and controls on prepaid cards addressed to banks and electronic payment service providers, to take into account compliance with the instructions in accordance with the best international practices adopted, and to preserve the public interest. /

 

[Laid Back]

2 hours ago, Fimum said:

Anyone familiar with these "prohibited" transaction codes? Are these international transaction identification codes? Thanks in advance!

https://stripe.com/guides/merchant-category-codes#why-are-mccs-important
 

[Officiallytook]

🔥

[6ly410]

The Central Bank of Iraq issued new decisions on dollars and dinars The Central Bank of Iraq has updated some decisions and guidelines regarding the use and withdrawal of money from bank cards in ATM machines، saying that no card should contain more than 10 million dinars and that putting money on any number of cards should not exceed 10 million Iraqi dinars per month.

[6ly410]

The Central Bank clarifies the objectives of the instructions issued on prepaid cards

Economic News Agency - The Central Bank clarifies the objectives of the instructions issued on prepaid cards (economy-news.net)

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Economy News-Baghdad

The central bank clarified on Sunday the objectives of the instructions issued on prepaid cards, while pointing to punitive measures against banks that issued cards outside the controls.

Deputy Governor of the Central Bank Ammar Hamad Khalaf said in a statement to state television that "the current government is interested in the issue of electronic payment," noting that "the aim of issuing instructions for electronic payment cards is to prevent misuse of cards."
He added that "the bank's instructions set the maximum amount in the prepaid card, which is 10 million dinars, rechargeable once, with a ceiling not exceeding this amount, in addition to conditions for banks that issue these cards, which must include printing the citizen's name on them, taking all information through official documents when issuing the card," noting that "the company or banking entity is responsible for citizen information."
"Attempts were thwarted to smuggle a number of cards issued by banks and electronic payment companies licensed by the Central Bank, which did not include any name, with the aim of using them outside Iraq," he said, noting that "the Central Bank took measures with those banks in coordination with security authorities and border crossings that were able to seize those cards."
He stressed that "the decision of the Central Bank, which concerns electronic payment cards, stressed the need for this card issued to be registered in the name of a person with the company issuing it," pointing to "the possibility of using these cards outside Iraq by withdrawing cash equivalent to $ 300 per day, provided that it does not exceed $ 3000,<> during one month."
He pointed out that "the use of this card inside Iraq is in Iraqi dinars," pointing out that "the citizen will not pay any fees for the process of using these cards inside Iraq."

Views 3

Added 2023/05/21 - 9:42 PM

[6ly410]

Central Bank: Punitive measures against banks that issued payment cards outside the controls

 local 

•  Today, 21:22

Baghdad - The Central Bank
clarified on Sunday the objectives of the instructions issued on prepaid cards, while pointing to punitive measures against banks that issued cards outside the controls.

Deputy Governor of the Central Bank Ammar Hamad Khalaf said in a statement to Al-Iraqiya News Agency (INA), that "the current government is interested in the issue of electronic payment," noting that "the goal of issuing instructions for electronic payment cards is to prevent misuse of cards."
He added that "the bank's instructions set the maximum amount in the prepaid card, which is 10 million dinars, rechargeable once, with a ceiling not exceeding this amount, in addition to conditions for banks that issue these cards, which must include printing the citizen's name on them, taking all information through official documents when issuing the card," noting that "the company or banking entity is responsible for citizen information."
"Attempts were thwarted to smuggle a number of cards issued by banks and electronic payment companies licensed by the Central Bank, which did not include any name, with the aim of using them outside Iraq," he said, noting that "the Central Bank took measures with those banks in coordination with security authorities and border crossings that were able to seize those cards."
He stressed that "the decision of the Central Bank, which concerns electronic payment cards, stressed the need for this card issued to be registered in the name of a person with the company issuing it," pointing to "the possibility of using these cards outside Iraq by withdrawing cash equivalent to $ 300 per day, provided that it does not exceed $ 3000,<> during one month."
He pointed out that "the use of this card inside Iraq is in Iraqi dinars," pointing out that "the citizen will not pay any fees for the process of using these cards inside Iraq."

[6ly410]

Central Bank: We have not issued any decision to stop electronic payment cards

Economic News Agency - Central Bank: We have not issued any decision to stop electronic payment cards (economy-news.net)

 

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Economy News - Baghdad

The Central Bank of Iraq confirmed on Monday that no decision has been issued on stopping electronic payment cards, while pointing to the trend to prepare a strategy to deal with international organizations to enhance financial inclusion.

Deputy Governor of the Central Bank Ammar Khalaf said, "The Central Bank has not issued any decision to stop electronic payment cards, but rather encourages their use inside and outside Iraq instead of the citizen taking dollars outside Iraq can use the card for purchases."

He pointed out that "there are many challenges facing the Central Bank, including the development of the financial sector, the exchange rate and its stability, electronic payment and increasing financial inclusion, all of which are major challenges and objectives," noting that "this needs the efforts of the private sector to achieve stability for the Central Bank."

Khalaf said in an interview with the official news agency and followed by "Economy News", that "the Central Bank alone, unable to achieve all its goals in light of the structural imbalance in the Iraqi economy."

He pointed out that "there are continuous efforts made by the Central Bank, through monetary policy procedures and meeting traders' requests for foreign currency according to legal contexts, and therefore the Central Bank uses various monetary policy tools, including the open market currency, the policy rate and others, to achieve stability."

He explained that "the Central Bank has an integrated infrastructure, and it encourages banks to work with advanced technology, especially electronic payment tools and reduce the use of cash," pointing out that "the Central Bank is working on a special strategy in dealing with international organizations to promote financial inclusion as a primary goal of its goals."

 

Views 130

Added 2023/05/22 - 1:06 PM

[6ly410]

Central Bank. New directives to all licensed banks

2023.05.22 - 11:59

Central Bank. New directives to all licensed banks (nasnews.com)

 

  

Baghdad - NAS  

On Monday, the Central Bank of Iraq issued new directives to all licensed banks.  

\  

  

The directives, which were seen by NAS (May 22, 2023), included "reducing foreign currency conversion commissions, and publishing the rates of these commissions on the official websites of banks."  

  

  

 

[6ly410]

 

The Central Bank of Iraq directs banks to reduce foreign currency conversion commissions (document)

Economy | Today, 11:58 | 

    The Central Bank of Iraq directs banks to reduce foreign currency conversion commissions (document) » Baghdad News Agency Today (baghdadtoday.news)

 

Baghdad Today – Baghdad

On Monday, the Central Bank of Iraq directed banks to reduce the fees of foreign currency conversion commissions.

According to a document obtained by Baghdad Today, "the Central Bank of Iraq directs all banks to reduce foreign currency transfer commissions, and to publish the rates of these commissions on the official websites of banks."

The document explained that "the transfer commission means the FX exchange commission that is charged when paying or paying in a currency other than the currency of the account or card."

 

 

 

[6ly410]

Central Bank: We have not issued any decision regarding the suspension of electronic payment cards

 economy 

•  Today, 13:01

 

Baghdad – Waa – Mohammed Talbi

 

The Central Bank of Iraq confirmed on Monday that no decision has been issued on stopping electronic payment cards, while pointing to the trend to prepare a strategy to deal with international organizations to enhance financial inclusion.

Deputy Governor of the Central Bank Ammar Khalaf told the Iraqi News Agency (INA): "The Central Bank has not issued any decision to stop electronic payment cards, but rather encourages their use inside and outside Iraq instead of the citizen taking dollars outside Iraq can use the card for purchases."

He pointed out that "there are many challenges facing the Central Bank, including the development of the financial sector, the exchange rate and its stability, electronic payment and increasing financial inclusion, all of which are major challenges and objectives," noting that "this needs the efforts of the private sector to achieve stability for the Central Bank."

He continued, "The Central Bank alone, unable to achieve all its goals in light of the structural imbalance in the Iraqi economy."

He pointed out that "there are continuous efforts made by the Central Bank, through monetary policy procedures and meeting traders' requests for foreign currency according to legal contexts, and therefore the Central Bank uses various monetary policy tools, including the open market currency, the policy rate and others, to achieve stability."

He explained that "the Central Bank has an integrated infrastructure, and it encourages banks to work with advanced technology, especially electronic payment tools and reduce the use of cash," pointing out that "the Central Bank is working on a special strategy in dealing with international organizations to promote financial inclusion as a primary goal of its goals."

On Sunday, the central bank issued new instructions regarding prepaid cards.

"In light of the Central Bank's directions to deploy electronic payment tools and adopt payment systems in financial transactions in order to increase the percentage of financial inclusion and provide local and international financial and banking services to all segments through the use of prepaid cards, taking into account the principle of "know your customer" and the rules of compliance with instructions issued in accordance with international best practices as part of this bank's role to enhance the security and safety of prepaid card operations while ensuring their accessibility and usefulness to users, Banks comply with the following controls:

1- The maximum balance of prepaid cards shall be (10) million Iraqi dinars or its equivalent in other currencies.

2- The monthly recharge limits for prepaid cards shall be (10) million Iraqi dinars and it is your responsibility to refuse any recharges for the card that exceed the maximum balance mentioned above.

3- Setting a maximum limit for daily and monthly transactions for the card as follows:

- Determining the value of withdrawals through ATMs to be ($ 300) per day or its equivalent in other currencies, provided that cash withdrawals do not exceed ($ 3000) per month.

- Limit purchases through points of sale to be ($ 750) per day or its equivalent in other currencies and not exceeding the monthly card limit.

4- Banks and electronic payment service providers licensed by this bank are allowed to issue and recharge cards (prepaid) and to grant exchange companies of category A andB and their branches exclusively a marketing agency and sell these cards for the benefit of the issuer and refill them, and all entities not licensed by this bank are prohibited from practicing the above activity starting from 2023/7/15.

5- Prohibition of transaction types according to Merchant Class Codes (MCC) associated with high-risk financial activities, and we list below the MCC codes that are prohibited from dealing with (-6051-6050-6012-5972-5960-5944-5933-5932-5094-4829-(6211-6300-6513-6532-6533-6534-6536-6537-6538-6540-7012-7995-8398 with linked details.

6- All issuers have the right to issue one active prepaid card to the same customer after submitting the identification documents (cardholder's identity / passport), taking into account the affixation of the customer's name on the card, and it is not allowed to issue and recharge cards to unknown without submitting identification documents.

7- Due diligence measures are taken upon issuance and recharge by card issuers in accordance with the controls issued by this bank and the Anti-Money Laundering and Combating the Financing of Terrorism Law in force and the instructions and controls issued thereunder, and to report any suspicious activity to the competent authorities (Anti-Money Laundering and Terrorism Financing Office) for the purpose of assisting in the early detection and containment of illegal activity.

8- It is your responsibility to conduct regular reviews of prepaid card transactions and take additional action regarding customers who frequently use their prepaid cards for purchases and cash withdrawals or carry out improper pattern transactions according to the scenarios specified by the Anti-Money Laundering and Terrorism Financing Office.

9- Providing awareness programs to your customers about the risks associated with prepaid cards and how to use them safely.

10- Cards linked to mobile wallets shall be treated as prepaid cards and shall be subject to the same terms and conditions contained in these circulars.

11- Cards issued before the date of issuance of this circular and do not bear a name; they shall be effective until 2023/8/1 or the expiry of their balance, or whichever is earlier, and they shall not be recharged and the limits referred to above and the aforementioned merchant category codes shall be applied to them, and banks and companies shall take the

necessary action to replace them under this circular.

[yota691]

Clarification from the Central Bank about prepaid cards and a warning to banks

2023.05.21 - 23:02

 

Baghdad - people  

On Sunday, the Central Bank clarified the objectives of the instructions issued regarding prepaid cards, while indicating that punitive measures were taken towards banks that issued cards outside the controls.  

  

  

  

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in a statement to the official channel, followed by “NAS” (May 21, 2023), that “the current government is interested in the issue of electronic payment,” noting that “the aim of issuing instructions for electronic payment cards is to prevent misuse of cards.”  

  

He added, "The bank's instructions set the upper limit for the amounts in the prepaid card, which is 10 million dinars, which can be charged once, with a ceiling that does not exceed this amount, in addition to conditions for banks that issue these cards, which must include printing the citizen's name on them, while taking all information through documents." official when issuing the card,” noting that “the company or the banking entity is responsible for the citizen’s information.”  

  

And he continued, "Attempts to smuggle a number of cards issued by banks and electronic payment companies licensed by the Central Bank, which did not include any name, were thwarted, with the aim of using them outside Iraq," noting that "the Central Bank took measures with those banks in coordination with security agencies and border crossings." I caught those cards."  

  

He emphasized that "the Central Bank's decision regarding electronic payment cards stressed the need for this issued card to be registered in the name of a person with the company issuing it," pointing to "the possibility of using these cards outside Iraq by withdrawing cash equivalent to $300 per day, provided that it does not exceed $3,000." within one month.”  

  

And that "the use of this card inside Iraq is in Iraqi dinars," pointing out that "the citizen will not pay any fees for the process of using these cards inside Iraq."  

[yota691]

The Central Bank.. New directives to all licensed banks

2023.05.22 - 11:59

 

Baghdad - people  

On Monday, the Central Bank of Iraq issued new directives to all licensed banks.  

  

  

The directives, which "NAS" reviewed (May 22, 2023), included "reducing commissions for foreign currency transfers, and publishing the percentages of these commissions on the official websites of banks."  

  

[yota691]

The Iraqi Central Bank denied issuing any decision regarding stopping electronic payment cards

Central Bank of Iraq
 May 22, 2023 03:48 PM
Mubasher: The Central Bank of Iraq confirmed, today, Monday, that no decision has been issued regarding stopping electronic payment cards, while indicating the tendency to prepare a strategy for dealing with international organizations to enhance financial inclusion.

The Deputy Governor of the Central Bank, Ammar Khalaf, told the Iraqi News Agency, "INA": "The Central Bank has not issued any decision to stop electronic payment cards, rather it encourages their use inside and outside Iraq instead of the citizen taking the dollar outside Iraq. He can use the card for purchases." ".   

He pointed out that "there are many challenges facing the Central Bank, including the development of the financial sector, the exchange rate and its stability, electronic payment and increasing financial inclusion, all of which are major challenges and goals," noting that "this needs the efforts of the private sector to achieve stability for the Central Bank."

He continued, "The Central Bank alone is unable to achieve all its goals in light of the structural imbalance in the Iraqi economy."
He pointed out that "there are continuous efforts made by the Central Bank, through monetary policy measures and meeting merchants' requests to obtain foreign currency in accordance with legal contexts, and therefore the Central Bank uses various monetary policy tools, including the open market currency, the policy rate, and others, to achieve stability." 

He explained that "the Central Bank has integrated infrastructure, and it encourages banks to work with advanced technology, especially electronic payment tools and reduce the use of cash," pointing out that "the Central Bank is working on a special strategy in dealing with international organizations to enhance financial inclusion as a goal." essential to its objectives.

Yesterday, Sunday, the Central Bank issued new instructions regarding prepaid cards.

[yota691]

Central: We did not stop issuing electronic payment cards

Economical  2023/05/23

 

 

 Baghdad: morning

 

Yesterday, Monday, the Central Bank of Iraq denied the issuance of any decision regarding stopping electronic payment cards, pointing to the tendency to prepare a strategy for dealing with international organizations to enhance financial inclusion.

The deputy governor of the bank, Ammar Khalaf, said: "The Central Bank has not issued any decision to stop electronic payment cards, but rather it encourages their use inside and outside Iraq instead of the citizen taking the dollar outside Iraq, so he can use the card for purchases."

Khalaf added, "There are many challenges facing the Central Bank, including the development of the financial sector, the exchange rate and its stability, electronic payment and increasing financial inclusion, all of which are major challenges and goals," noting that "this needs the efforts of the private sector to achieve stability for the Central Bank." He continued, "The central bank alone is unable to achieve all its goals in light of the structural imbalance in the Iraqi economy." Khalaf pointed out, "There are continuous efforts made by the Central Bank, through monetary policy measures and meeting merchants' requests to obtain foreign currency in accordance with legal contexts. Therefore, the Central Bank uses various monetary policy tools, including the open market currency, the policy rate, and others, to achieve stability." 

He explained, "The Central Bank has integrated infrastructure, and it encourages banks to work with advanced technology, especially electronic payment tools and reduce the use of cash," noting that "the Central Bank is working on a special strategy in dealing with international organizations to enhance financial inclusion as a goal." essential to its objectives.

 

[coorslite21]

 

 

 Tuesday, May 23, 2023

41°C

 

 

 

CBI sets new regulations on prepaid cards

• Amr Salem
•  May 21, 2023
•  3252
•  3 min

The Central Bank of Iraq. Photo: Iraqi News Agency

Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced on Sunday that Iraqi banks must adhere to new regulations on prepaid cards, where their credit limit is not more than 10 million Iraqi dinars (nearly 764 dollars) or its equivalent in other currencies, according to a statement cited by the Iraqi News Agency (INA).

 

The CBI confirmed that the limits for the monthly recharge of prepaid cards will not exceed 10 million dinars, indicating that it is not responsible for rejecting any recharge operation for cards exceeding the limit of the balance mentioned in the statement, INA reported.

The statement elaborated that prepaid cards issued before the issuance of these new regulations, and do not bear a name, remain valid until August 1, 2023, or until their balance is consumed, or whichever is earlier, but they will not be reused.

 

Withdrawals through ATMs are set to 300 USD per day or its equivalent in other currencies where cash withdrawals do not exceed $3,000 per month, the statement explained.

 

The new rules set purchases at $750 per day or its equivalent in other currencies and should not exceed the card’s monthly limit, the statement clarified.

The new regulations are issued three months after the CBI announced applying a new exchange rate of the US dollar against the Iraq dinar.

 

Before the new exchange rate announcement, the previous official exchange rate was 1450 dinars to one US dollar and was being exchanged in the black market at a rate of 1550 dinars.

The new exchange rate ranges between 1300 and 1320 dinars per US dollar.

 

In January, the exchange rate of the US dollar against the local currency reached 1610 dinars, while the official exchange rate remained at 1459 dinars per dollar, with a gap between the two exchange rates of more than 10 percent.

 

In late January, demonstrations took place in front of the CBI’s headquarters in the capital, Baghdad, to protest against the rising exchange rate of the US dollar.

 

The protesters demanded the Iraqi government urgently limit the rise in the exchange rate against the US.

 

MIDDLE EAST

[yota691]

Economic: The Central Bank's permission for exchange companies to enter the currency window has been somewhat successful

two hours ago

 

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private|. .

Economic advisor, Muhammad Fakhri, said, on Thursday, that the Central Bank of Iraq's permission for exchange companies to enter the window for buying and selling currency has achieved some success.

Fakhri explained in an interview with “ Al-Jarida ” that “the response of exchange companies to the demand for the dollar by Iraqi travelers and selling it at the price set by the Central Bank of Iraq, which is (1320) Iraqi dinars per dollar, is mainly due to the success of the Central Bank of Iraq to some extent in strengthening the side of The supply of dollars by allowing exchange companies of category (A, to enter the window of buying and selling foreign currency and thus increasing cash sales of dollars to these companies to meet the demand for dollars by Iraqi travelers as well as strengthening the Central Bank of its supervisory and supervisory role by issuing it before Days of strict directives to exchange companies for the purpose of controlling cash sales of dollars to travelers via the electronic platform (FITR) and commitment to carrying out cash sales of dollars in accordance with the instructions and controls in force.

[yota691]

A newspaper.. that explores the opinions of citizens regarding the sale of dollars to travelers through exchange companies

7 minutes ago

 

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Newsroom |..

Despite the fluctuation of the exchange rate and the discrepancy between the official and parallel rates, the purchase of hard currency from exchange companies takes place smoothly and at the official rate, especially for traveling citizens.

“ Jarida ” surveyed the opinions of citizens about the exchange process in Baghdad and the provinces, and their responses were similar. Zuhair Mahmoud (52 years) from Baghdad confirmed that the procedure in exchange is smooth and that the procedures are routine and require nothing but the presentation of documents related to the citizen’s information and travel data in order to sell the dollar in accordance with the instructions of the Central Bank. .

As for Ali Qusay from Baghdad (33 years), he added that the owner of the money exchange is restricted to a specific amount that he cannot exceed in selling to the citizen, and this limits the market’s ability to move and limits the ability of the traveling citizen and forces him to bear the costs of money transfers from abroad, calling for an increase in the amount allowed to the citizen The traveler, because this has nothing to do with the crisis of the rise in the dollar.

Duha Najat (38 years old) mentioned that Nasiriyah does not differ from the rest of Iraq in the ease of exchange, its transparency and the legality of its procedures, indicating that she traveled more than once during the crisis and that the procedures for exchange at the official rate from exchange companies are very normal.

And at a time when the Association of Iraqi money changers calls on the central bank to abide by the agreement concluded with the prime minister, the citizens have expressed support for the demands of the money changers because their sector represents an important service for the economic life in Iraq.