CBI decides to allow Iraqi banks to open letters of credit and financing
Central Bank has decided to encourage Iraqi banks approved to open letters of credit and financing by the Bank in accordance with the mechanism designed for this purpose and continuity in the entry window selling foreign currency.
The bank said that “the banks covered are Bank of Baghdad, credit and Mansur as a first stage and later include banks approved all.”
The bank said it decided to “increase the share of the weekly auction and given to the exchange companies, conversion and by $ 100 thousand for money transfer companies who increased their capital and according to the requirements of the Bank to 500 million dinars. “
He said he also decided to “increase the share of weekly auction by $ 150 thousand for money transfer companies who increased their funds before the date required by the central bank to 15 billion dinars. “
And he decided to “increase the share of the auction to $ 125 thousand for money transfer companies who increased their capital according to the requirements of the Central Bank to 10 billion dinars. “
He pointed out that also decided to “authorize the governor of the Iraqi Central Bank the power to reduce the sale price of the dollar and of the present 1179 dinars to the dollar,” noting that “the objective of this is to enhance the value of the Iraqi dinar and the requirements of the market. “