The Association of Banks regarding the new measures package of the Central Bank: It will contribute to the stability of the exchange rate
The Association of Banks regarding the new measures package of the Central Bank: It will contribute to the stability of the exchange rate
2023-02-04 00:40
Shafaq News / The Iraqi Private Banks Association confirmed, on Saturday, its support for government efforts and the new package of measures issued by the Central Bank to facilitate international trade financing, which contributes to raising the value of the Iraqi dinar against the dollar, directly and gradually, and with the provision of materials and goods in the local market.
The Association said in a press statement today, that the new package of measures issued by the Central Bank of Iraq, to facilitate the financing of international trade, and organize its work in accordance with international requirements, will contribute to the stability of the exchange rate, and reduce the parallel market and illegal transfers.
She added that private banks are ready to implement all the instructions of the Central Bank, because they have the necessary infrastructure, and in compliance with the instructions by opening accounts and providing official documents for importing goods, by various categories, including companies and simple companies registered in the chambers of commerce, owners of laboratories, factories, agricultural and investment projects, in addition to offices. Scientific and companies in the Kurdistan Region.
The Association of Banks also called on the business sector and merchants to deal with banks directly by opening accounts, bank credits, and fundamental transfers, and benefiting from the advantages and official exchange rates, without a mediator or a third party, or using unlicensed channels and exchange, as the transfer process will take place after verifying the fundamental requirements and verifying Lists of bans and penalties.
She added that the banking sector is determined to implement this package of decisions in a smooth and easy way, simplify procedures within the controls and expand the network of dealing with merchants, especially through all branches in the governorates, in addition to intensifying awareness campaigns for the public on the mechanisms of opening the account and the controls of external transfer.
Yesterday, Friday, the Central Bank of Iraq announced that the US Treasury had expressed its readiness for the necessary flexibility to achieve “common goals,” and the agreement to continue coordination and cooperation during the meetings to be held in Washington, DC, before the middle of this month, after the conclusion of the Central Bank Governor Ali Mohsen Ismail and his accompanying delegation in Turkey. His meetings with US Treasury Assistant Secretary Brian Nelson and his accompanying delegation.
Yesterday, Friday, the Central Bank of Iraq issued the second package of facilities to meet the demand for the dollar, on both sides of cash and foreign transfers.
The price of the dollar against the dinar rose in an unprecedented way recently due to the measures imposed by the United States of America to limit currency smuggling from Iraq.
The Central Bank of Iraq announced, on Monday, January 19, the first package of decisions that would return the foreign currency market to its normal position after the rise that occurred in it.
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