Economist: The window for selling currency ends during 2024 and the Central Bank will devote itself to supervision

[6ly410]

Economist: The window for selling currency ends during 2024 and the Central Bank will devote itself to supervision

•  Time : 2024/02/12 20:44:48
•  
•  Reading : 91 times
• Economist: The window for selling currency ends during 2024 and the Central Bank will devote itself to monitoring - Al-Furat News (alforatnews.iq)

  

{Economic: Al-Furat News} The economic expert, Abdul Rahman Al-Sheikhly, confirmed today, Monday, the end of the window for selling currency during 2024 and the Central Bank will devote itself to supervision.

 

 

Al-Sheikhly said {to Al-Furat News} that: "The window for selling currency is coming to an end during 2024 and the cash sale is now few for remittances, and there are more than $ 200 million converted for the purposes of importing goods from abroad according to the method of documentary credits, and this process excludes many problems."
He added, "The Central Bank of Iraq decided to end the process of the currency window and the adoption of correspondent banks instead, and there will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform."
Al-Sheikhly believes that "this mechanism will save a lot of effort and external relations, so the Central Bank will devote itself to the role of control and auditing, not to enhance balances, and will absolve itself of its responsibility from the import process according to its law."
"There will be more than one foreign correspondent bank in different currencies according to the trade that is imported from origin, and thus will eliminate problems, most notably the leakage of money from the central bank and banks to prohibited destinations," he said.

Wafaa Alfatlawi

[screwball]

3 hours ago, 6ly410 said:

there will be a new mechanism to provide currency for transfers without returning to the currency window or the electronic platform."

⏰🙏

[WheresmyRV?]

Thought they said this last year. 

[NWGUY]

Shut it down, and revalue your currency.   Iraq will be in such a great financial situation, they won't be able to spend their wealth.  Like I said before, they will make Dubai look like paupers.

 

[Laid Back]

GREAT NEWS.!!!

State and private banks are going to take care of the dollar demand. The central bank will have a supervisory role

 

Go end of daily auctions 

Go end of exchange control

Go Stronger dinar

[southbeach]

Does this also mean that the CBI auction floor will stop selling IQD to US currency exchanges for resale to you and me?

[southbeach]

2 minutes ago, southbeach said:

Does this also mean that the CBI auction floor will stop selling IQD to US currency exchanges for resale to you and me?

by the end of 2024?

[southbeach]

Just now, southbeach said:

by the end of 2024?

and if so, then a rv in 2025?

[Longtimelurker]

4 hours ago, southbeach said:

Does this also mean that the CBI auction floor will stop selling IQD to US currency exchanges for resale to you and me?

Makes sense to me.

[Longtimelurker]

4 hours ago, southbeach said:

by the end of 2024?

Sometime in 2024, could be sooner.

[Longtimelurker]

This is big. They figured out where the crime was happening and shutdown those banks. Weren't 8 banks just in the news? Those were probably the bad ones and now they're announcing the auction ending in 2024 😳💥

 

 

[screwball]

5 hours ago, Longtimelurker said:

This is big. They figured out where the crime was happening and shutdown those banks. Weren't 8 banks just in the news? Those were probably the bad ones and now they're announcing the auction ending in 2024 😳💥

 

 

Makes sense thanks!