CBI sets alternatives to letter of guarantee for exchange companies

CBI sets alternatives to letter of guarantee for exchange companies

28 January 2018 03:56 PM

CBI sets alternatives to letter of guarantee for exchange companiesMubasher : The Central Bank of Iraq set two options for exchange companies instead of the letter of guarantee.

The Central Bank said in a statement on Sunday that the first alternative includes providing a letter of guarantee of 50% of the company’s capital issued by a bank authorized by the Central Bank.

He continued that the second option, deposit exchange companies 100 million dinars in their accounts with the bank , by depositing in a bank authorized by the Central Bank.

The “Central Iraqi”, that the decision of the Board of Directors, to allow companies to mediate between the two conditions; to not abuse the licenses granted to them.

mubasher.info