Central Bank announces its ability to meet the demand for foreign currency in full

Central Bank announced its ability to meet the demand for foreign currency in full, including not intersect with the anti-money laundering law, crime and the financing of terrorism.

The bank decided in a statement modify instructions foreign currency auction in his quest to move to the system free and open exchange, including the abolition of ceilings amounts of foreign currency sold to banks daily to foreign exchange.

It also decided to double the foreign currency ceilings sold in cash to banks on a weekly basis. The banks have the right to determine the sale price of foreign currency to their customers, purchase and cancellation of previous selections, as foreign exchange sold by the banks to customers up to five thousand dollars to the customer in exchange for highlighting civic identity only canceled the conditions and other details. He explained that he would continue to cooperate with the concerned authorities in the fight against money laundering and money, crime and terrorism, and any illegal dealings, calling for adherence to the anti-terrorism law.

The bank issued strict instructions governing the sale of currency by banks, including requiring those concerned in the activity of the Iraqi private, traders, industrialists and segments other productive who import goods and services and production requirements and equipment development, when applying to private banks to participate in an auction of foreign currency to finance Mistordathm cross conversion or open letters of credit, the obligation at an exchange rate of $ 1189 dollars for dinars, after having documents that prove importation in accordance with standard international norms of documentary credits and remittances and instructions.