CBI News 12/31/2023

[DWS112]

CBI News 12/31/2023

The Central Bank of Iraq reveals the mechanism for delivering incoming remittances in the US dollar currency

 

 

In implementation of the monetary policy objectives and to enable banks to meet the foreign currency needs of their customers, the Central Bank of Iraq has determined the entities covered by receiving their foreign transfers in cash in the US dollar, as of January 2, 2024, according to the following:

 

- All diplomatic missions, organizations and international agencies operating in Iraq.

- Non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers, in the event that the foreign donor party stipulates that the amounts of incoming foreign transfers be paid in the dollar currency inside Iraq.

- Government contracts in effect in the US dollar, and ongoing contracts for grants, loans, and foreign agreements.

- 40% of the remittances received by Iraqi exporters resulting from their exports abroad.

Except for what is mentioned above, banks are permitted to deliver to their customers the amounts of their transfers received from abroad in cash, from the bank’s own available resources, and according to the agreement between the bank and the customer.

The Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interests/returns), and that the customer has the right to withdraw deposits and interest/returns deposited in cash. 

The Central Bank of Iraq noted that banks are not allowed to automatically transfer customer funds received from outside Iraq in the US dollar currency to the dinar currency except with the customer’s approval, stressing the decisions of the Council of Ministers to prevent internal transactions in foreign currency and to enhance confidence in the Iraqi dinar.

 
Central Bank of Iraq 
Media Office
December 31, 2023

[6ly410]

12:00 a.m.

Monday, January 1, 2024  (GMT+3) 

Time in Iraq 

 

 

[6ly410]

this article showed up just before 01/01/24? 

[6ly410]

I think so… I looked at the website all day and just noticed this article… not sure lol 

[Half Crazy Runner]

28 minutes ago, 6ly410 said:

12:00 a.m.

Monday, January 1, 2024  (GMT+3) 

Time in Iraq 

 

 

Happy New Year Iraq!!  

[davis411]

Are we rich yet???

 

[Fimum]

See, it's your friends that really make one wealthy...

 

🙂

[6ly410]

[6ly410]

[NoviceInvestor]

19 minutes ago, davis411 said:

Are we rich yet???

 

No not yet.. Don’t give up though as there is always the possibility of an end of Ramadan surprise RV early April. 🤔🙏🙂

[6ly410]

The Central Bank of Iraq determines the entities covered by obtaining its foreign remittances in cash in dollars

Sunday, December 31, 2023 23:43 |EconomyViews: 177

The Central Bank of Iraq determines the entities covered by obtaining its foreign remittances in cash in dollars (ninanews-com.translate.goog)

Baghdad/Nina/ The Central Bank of Iraq has identified the entities covered by obtaining its foreign remittances in cash in dollars starting from January 2, 2024.He explained in a statement that the covered parties are diplomatic missions, international organizations and agencies operating in Iraq, and non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers in the event that the foreign donor requires the payment of foreign remittances received in dollars inside Iraq, as well as government contracts in force in US dollars, and continuous contracts on grants, loans and external agreements.

He added that 40 percent of the incoming remittances to Iraqi exporters resulted from their exports abroad.
He continued: Banks are allowed to hand over to their customers the amounts of their remittances received from abroad in cash and from the bank's own resources and according to the agreement between the bank and the customer.
The Central Bank confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interest / returns), and that the customer has the right to withdraw deposits and interest / returns deposited in cash.

He explained that banks are not allowed to automatically convert customers' funds received from outside Iraq in dollars into dinars without the customer's consent.
He stressed that the bank stresses the decisions of the Council of Ministers to prevent internal transactions in foreign currency and enhance confidence in the Iraqi dinar./Ends9

[6ly410]

1 hour ago, DWS112 said:

The Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interests/returns), and that the customer has the right to withdraw deposits and interest/returns deposited in cash. 

so.. what are they withdrawing? they are not using the dollar in country..

[6ly410]

🤔

[6ly410]

41 minutes ago, davis411 said:

Are we rich yet???

 

🤔

[6ly410]

The Central Bank identifies the entities covered by obtaining its foreign remittances in cash in dollars

 economy

 

 yesterday, 23:24

+A - A-A.

Baghdad - The Central Bank of Iraq
revealed the mechanism for delivering incoming remittances in US dollars.

A statement by the Central Bank received by the Iraqi News Agency (INA) stated that "in implementation of the objectives of monetary policy and to enable banks to meet the needs of their customers of foreign currency, the Central Bank of Iraq has identified the parties covered by obtaining their foreign remittances in cash in US dollars, as of January 2, 2024 as follows:
- All diplomatic missions, organizations and international agencies operating in Iraq.
- Non-governmental civil society organizations registered with the General Secretariat of the Council of Ministers, in the event that the foreign donor stipulates the payment of foreign remittances received in dollars inside Iraq.
- Government contracts in force in US dollars, and continuing contracts on grants, loans and foreign agreements.
- 40% of the incoming remittances to Iraqi exporters resulting from their exports abroad.
"Except for the above, banks are allowed to hand over to their customers the amounts of their remittances received from abroad in cash, from the bank's own resources, and according to the agreement between the bank and the customer," the statement continued.
According to the statement, the Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interest / returns), and that the customer has the right to withdraw deposits and interest / returns deposited in cash.
The Central Bank of Iraq noted that "banks are not allowed to automatically convert customers' funds received from outside Iraq in the US dollar currency to the dinar currency except with the consent of the customer, stressing the decisions of the Council of Ministers to prevent internal transactions in foreign currency and enhance confidence in the Iraqi dinar."

[horsesoldier]

50 minutes ago, Fimum said:

See, it's your friends that really make one wealthy...

 

🙂

Most certainly but it also helps if they buy your Whiskey.

Trotting out the comedy to manage the stress and excitement this investment brings.

All the Best

[6ly410]

done deal 

[6ly410]

The Central Bank determines the entities covered by obtaining its foreign remittances in cash in dollars starting from the year 2024

The Central Bank identifies the entities covered by obtaining its foreign remittances in cash in dollars » Iraqi News Agency (ina.iq

)

 

 

 - 31-12-2

The Central Bank of Iraq revealed on Sunday the mechanism for delivering incoming remittances in the US dollar.

The Central Bank stated in a statement that "in implementation of the objectives of monetary policy and to enable banks to meet the needs of their customers of foreign currency, the Central Bank of Iraq has identified the entities covered by obtaining their foreign remittances in cash in US dollars, as of January 2, 2024 as follows:

- All diplomatic missions and international organizations and agencies operating in Iraq.
- Non-governmental civil society organizations registered with the General Secretariat of the Council of Ministers, in the event that the foreign donor stipulates the payment of foreign remittances received in dollars inside Iraq.
- Government contracts in force in US dollars, and continuing contracts on grants, loans and foreign agreements.
- 40% of the incoming remittances to Iraqi exporters resulting from their exports abroad.
"Except for the above, banks are allowed to hand over to their customers the amounts of their remittances received from abroad in cash, from the bank's own resources, and according to the agreement between the bank and the customer," the statement continued.
According to the statement, the Central Bank of Iraq confirmed that banks continue to open bank accounts for customers in foreign currencies in exchange for (interest / returns), and that the customer has the right to withdraw deposits and interest / returns deposited in cash.
The Central Bank of Iraq noted that "banks are not allowed to automatically convert customers' funds received from outside Iraq in the US dollar currency to the dinar currency except with the consent of the customer, stressing the decisions of the Council of Ministers to prevent internal transactions in foreign currency and enhance confidence in the Iraqi dinar."

023 11:33 PM - Views: 4642

 

 

[6ly410]

52 minutes ago, NoviceInvestor said:

No not yet.. Don’t give up though as there is always the possibility of an end of Ramadan surprise RV early April. 🤔🙏🙂

[6ly410]

budget spending needs a new rate…

[6ly410]

and that’s happening now… 

[6ly410]

 - no more dollars …starting today…

[6ly410]

…

[6ly410]

they will not spend the budget that is retroactive 01/01/23 at 1310…

[6ly410]

this is about to blow - imo