The central bank is required to mediate letter of guarantee 100% of their capital firms
The central bank is required to mediate letter of guarantee 100% of their capital firms
Thursday, November 17, 2016 13:56
BAGHDAD / Baghdadi News / … revealed a document issued by the Central Bank of Iraq, on Thursday, for a resolution that includes an increase for letters of guarantee banking companies to allow them to enter sell the currency window, and noted that the decision included raising the letter of guarantee for banks to 100%, while the It confirmed that the bank’s board is considering a proposal to reduce those percentages after the claims of the companies need to be reduced.
According to a document obtained by / Baghdadi News /, that “there is a decision by the Board of the Central Bank includes an increase for letters of guarantee banking companies to the Central Bank of Iraq in order to enter sell the currency window,” noting that “companies demanded the need to modify that decision.” .
The document, to be “the central bank studied the requests he has received on the amendment of the decision to lift the letter of guarantee for banks to 100%, it has decided to be 25% that the increase be before the (first of January 2017), that increases annually by 25% for a period of four years to be up to 100%. ”
It said the document, said that “those measures aimed at creating motivation for the exchange companies to work according to the requirements of the Central Bank and commit to decide in selling the currency” .anthy 21 / T
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