CBI identifies the proportion of foreign currency granted to the banks depending on

CBI identifies the proportion of foreign currency granted to the banks depending on their capital

02/07/2012 17:00

Baghdad, July 2 (Rn) – The Central Bank of Iraq that he decided that depends on the size of the capital of government and private banks on the process of exchange of hard currency to develop the auction.   and see the market in weeks fluctuation in the exchange rate of the Iraqi dinar against the U.S. dollar, which cited experts to the restrictions imposed by the Bank on sales of hard currency. and the imposition of bank procedures more stringent in the auction to sell the dollar after it said that the currency you go to the neighboring countries, especially Syria and Iran imposed upon economic sanctions. Deputy Governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn ) that “the central bank will depend on the capital of banks to allocate foreign currency to ensure that contribute to the currency in trade support of Iraq.” “The banks will check the documents, customers and business to ensure that they leave for neighboring countries, according to the law against money laundering 94 of 2004.” The to “review the documents is not for the central bank, which oversees the management of liquidity as it is not possible to be audited 6 thousand transactions per day.” The main tasks of the central bank in maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of reserves of foreign currency and the organization of the banking sector. the Iraqi Central Bank and four branches in Basra and Sulaymaniyah, Erbil and Mosul.From: Jafar Allonan. Open: Abdullah Sabri

Source: aknews