Official: CBI News 05/21/2023

[yota691]

Iraqis abandon “private banks” towards exchange companies!

two hours ago

 

Facebook Twitter LinkedIn Messenger

special|..

Today, Thursday, economic expert Omar Al-Halbousi indicated a large migration from banks to exchange companies by citizens to obtain travellers' dollars.

Al-Halbousi said in an interview with “ Al-Jarida ”, that “exchange companies are witnessing a great demand by citizens to buy dollars at the central bank’s rate for the purpose of travel at a time when citizens’ demand for banks to buy dollars is declining, and the reason for this is the flexibility that exchange companies show more than banks that practice complexity.” In addition to the routine and waiting in the queues that we were witnessing at the doors of the banks, which caused the citizens’ aversion from the banks and their tendency to deal with exchange companies, as they are the fastest in completing the transaction and obtaining the dollar for the purpose of traveling in a timely manner.

He added, “At the same time, there are some banks that received sums in Iraqi dinars from citizens and gave them a date to receive the dollar, and when going to the date they did not receive it on the pretext that the dollar ran out of the bank, which generated a lack of confidence among citizens in banks that led to the trend towards exchange companies for the purpose of obtaining the dollar more quickly.” And this is a positive phenomenon in the event that adherence to this pattern remains without deviating into fraudulent methods that incur losses for the citizen and exhaust him to obtain the dollar.

He continued, “In addition to this, these companies also feared the arrest campaigns that affected a number of money changers, which caused facilitation of obtaining dollars, and the best solution to the dollar crisis remains not through police measures, but rather through monetary policy to address the crisis.”

[Mammaw]

Well this is interesting. Sounds about like the banks all over the world that are going under. I hear many many thanks here in the US are about to be closed down. Many have and many more to come. IMO based on my research, and the world economy and market down turn.  They keep telling us we don't have anything to be concerned about. Talk about false or fake news. Just saying. Time will tell.

[Artitech]

14 minutes ago, Mammaw said:

Well this is interesting. Sounds about like the banks all over the world that are going under. I hear many many thanks here in the US are about to be closed down. Many have and many more to come. IMO based on my research, and the world economy and market down turn.  They keep telling us we don't have anything to be concerned about. Talk about false or fake news. Just saying. Time will tell.

I have heard August 28th is a date about something big happening with the US Dollar! I have heard a lot of scuttle-butt, I learned a long time ago, when I was in the USAF, that you could figure the exact opposite of what the scuttle-was saying! In about 2 weeks it will be September and we will all know if the scuttle-butt was true or not! My plan has been to sink all available funds into gold! JMHO!🤠

[gregp]

7 hours ago, Artitech said:

I have heard August 28th is a date about something big happening with the US Dollar! I have heard a lot of scuttle-butt, I learned a long time ago, when I was in the USAF, that you could figure the exact opposite of what the scuttle-was saying! In about 2 weeks it will be September and we will all know if the scuttle-butt was true or not! My plan has been to sink all available funds into gold! JMHO!🤠

BRICS

[stanleypower]

BRICS summit starts August 22nd

[yota691]

Document: New directives from the Central Bank of Iraq

2023.08.19 - 14:18

 

The Central Bank of Iraq directs all banks to take new controls regarding prepaid cards for the purpose of regulating financial movements that take place inside Iraq.  

 

1- The ceiling for withdrawals for local financial movements (within Iraq) that are made through automated teller machines (ATMs) for prepaid cards is 2,000,000 (two million Iraqi dinars) per day instead of (395,000) Iraqi dinars.  

 

2- Raising the ceiling of the purchase movement through points of sale inside Iraq to be 10,000,000 (ten million Iraqi dinars), with a commitment not to exceed the monthly limit for charging the card, which is (10 million).  

 

3- Reducing the electronic purchase ceiling to be (750) US dollars per day.  

 

4- It is your responsibility to work on expanding your agent network by contracting with entities that are allowed to sell and market this type of card.  

 

5- Excluding local financial movements on prepaid cards with the commitment contained in Paragraph (5) of the above circulars related to Merchant Category Codes (MCC), provided that they are within the legitimate purposes of purchase and payment.  

[yota691]

The Central Bank issues new controls for banks to regulate financial movement inside Iraq

• Time: 08/19/2023 14:10:12
•  
• Read: 806 times

  

{Economic: Al Furat News} The Central Bank of Iraq launched a new package of measures to regulate the movement of internal funds.

[yota691]

The Central Bank issues new controls to regulate financial movements inside Iraq

Economy

2023-08-19 | 07:02

 

969 views

Alsumaria News - Economy

Today, Saturday, August 19, 2023, the Central Bank of Iraq issued directives to all banks to take new controls regarding prepaid cards for the purpose of regulating financial movements that take place inside Iraq.

According to a document issued by the bank obtained by Alsumaria News, the directives included, “The ceiling for withdrawals for local financial movements (inside Iraq) that are made through automated teller machines (ATMs) for prepaid cards shall be 2,000,000 (two million Iraqi dinars) per day instead of (395,000). Iraqi Dinar".

It also included raising the ceiling of the purchase movement through points of sale inside Iraq to be 10,000,000 (ten million Iraqi dinars), with a commitment not to exceed the monthly limit for charging the card, which amounts to (10 million). Reducing the ceiling of electronic purchase to be (750) US dollars per day, according to the document. .

The bank stressed that banks should work "to expand your agent network by contracting with entities that are allowed to sell and market this type of card," according to the document.

The bank confirmed the exception of local financial movements on prepaid cards with the commitment contained in Paragraph (5) of the above circulars related to Merchant Category Codes (MCC), provided that they are within the legitimate purposes of purchase and payment, according to the document.

 

Document below: 

 

[yota691]

New directives from the Iraqi Central Bank to regulate the movement of funds inside the country.. Document

2023-08-19 07:03

Shafaq News/ The Central Bank of Iraq issued, on Saturday, directives to all banks to take new controls regarding prepaid cards for the purpose of regulating financial movements that take place inside Iraq.  

 

A document obtained by Shafaq News Agency showed that the directives included, "The ceiling for withdrawals for local financial movements (inside Iraq) that are made through ATMs for prepaid cards shall be 2,000,000 (two million Iraqi dinars) per day instead of (395,000) Iraqi dinars." ".

 

The Central also recommended, “raising the ceiling of the purchase movement through points of sale inside Iraq to be 10,000,000 (ten million Iraqi dinars) with a commitment not to exceed the monthly limit for charging the card, which amounts to (10 million),” with “reducing the ceiling of electronic purchase to be (750). US dollars per day.

 

He stressed that banks should work "to expand your agent network by contracting with entities that are allowed to sell and market this type of card."

 

He stressed, "The local financial movements on prepaid cards are excluded with the commitment contained in Paragraph (5) of the above circulars related to merchant category codes (MCC), provided that they are within the legitimate purposes of purchase and payment."

 

[yota691]

A government bank puts pilgrims in a {dilemma}

• Time: 08/25/2023 17:29:35
•  
• Read: 5,772 times

  

{Local: Al-Furat News} Iraqi pilgrims were surprised by the closure of the government-run Al-Rashid Bank and its branches on Friday, when they went to receive $3,000 at a price subsidized by the Central Bank of Iraq.

 

Some of them told {Euphrates News} agency that they "fell into a dilemma after they visited today some branches of Al-Rashid Bank to buy 3 thousand dollars allocated to each traveler at the official price set by the Central Bank at {1320 dinars} to find it closed."

They added, "They cut off their travel tickets to the Holy Land in Saudi Arabia, and they have to leave today, Friday, in order to waste money from the Al-Rasheed branches designated for selling dollars to travelers, despite the bank's announcement in advance that it is open seven days a week, including holidays."

It is noteworthy that the Rasheed Bank directed its branches last July to sell the dollar to travelers at 3 thousand dollars instead of 2000 dollars for the traveler and all days of the week.