The Central Bank launches an electronic platform for foreign trade
The Central Bank launches an electronic platform for foreign trade
1-2-2023
Information / Baghdad..
On Monday, the Central Bank of Iraq announced the launch of the electronic platform for foreign trade, while noting that hard currency reserves amounted to more than $99 billion.
The bank’s deputy governor, Ammar Hamad, said in a statement to the official channel, which I viewed / information /, that “today the central bank witnessed the launch of the work of the electronic platform for foreign trade,” noting that “work on this platform continued for more than a year and a half with the aim of organizing the process of external financial transfer and trade financing.” External”.
He added, “This platform is the way and the only way to finance foreign trade,” noting that “private and government banks have sufficient information about the mechanism for using the platform.”
And he continued, “The documentary credits will be financed at a subsidized exchange rate of 1465 dinars to one dollar,” explaining that “the platform is an opportunity for merchants, investors, and company owners to finance their trade and financial work.”
On the bank’s reserves, Hamad said that “the central bank’s reserves amounted to more than 99 billion dollars,” pointing out that “within a short period, it will reach 100 billion dollars due to the rise in oil prices.”
And he stressed that “the rise in reserves is a positive indicator for the Iraqi government and the central bank for the stability of the exchange rate and the local currency.”
almaalomah.me
