The central bank re-based documentary work after two decades of stop

Monday 28 May 2012

Central Bank of Iraq said that “next week will see the return address instead of relying C C conversion.”

The deputy governor said the appearance of Mohammed Saleh, said that “work to open letters of credit rather than transfer of credit for hard currency is a system that was in effect before the imposition of the embargo on Iraq in 1990,” noting that “this action will guarantee to make sure that the hard currency that are sold to traders not be paid unless There is a hyphen goods to the country. ”

He explained that “this measure will enable the central bank to ensure that foreign exchange traders sold the goods against which comes to Iraq.”Adding that “the bank’s move is part of a traditional trade assets is added to the measures recently taken by the Bank to protect the hard currency.”