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Iraqi Trade Bank: Financing small traders in dollars will not be through the Central Bank platform
Economy of the day, 22:13
Baghdad – conscious
The Iraqi Trade Bank, TBI, confirmed today, Sunday, that the
process of financing dollar purchase requests from small merchants (shop owners) will not be through the electronic platform of the Central Bank,
but rather through the bank directly, and while explaining the process of transferring money abroad,
it indicated that facilitating the access of this category On the dollar will contribute to the decline in the exchange rate clearly.
"According to the bank's recent decision, small merchants can now obtain dollars in an easy way, at the official price of 1,320 dinars, and with a monthly transfer ceiling of up to 100,000 dollars," said the media expert at the Iraqi Trade Bank, Aqil Al-Shuwaili, to Al-Iraqiya News, and was followed by the Iraqi News Agency (INA). He added,
"The financial transfer for the purpose of foreign trade by small merchants takes place by opening an account in the Iraqi Trade Bank,
from which the money is transferred to a second account outside Iraq, and
no money is spent to the merchant by hand, but rather the
process will be a financial transfer for the purpose of purchase." And he continued,
"The financing process will take place outside the electronic platform of the Central Bank, which requires the presence of a registrar of companies, and
financing takes place directly from the Iraqi Trade Bank, and the
purpose of this procedure is to facilitate small merchants' access to the dollar,
especially since they make up 60% of those in the market, and
we expect that this will contribute to a significant decline in the exchange rate."
Notable because these traders will not have to buy dollars from the market.” He pointed out that
"the process of receiving small merchants wishing to buy will start tomorrow, and
what is meant by small merchants are shop owners and individuals wishing to finance commercial purchases from abroad."
https://www.ina.iq/190553--.html
Economy of the day, 22:13
Baghdad – conscious
The Iraqi Trade Bank, TBI, confirmed today, Sunday, that the
process of financing dollar purchase requests from small merchants (shop owners) will not be through the electronic platform of the Central Bank,
but rather through the bank directly, and while explaining the process of transferring money abroad,
it indicated that facilitating the access of this category On the dollar will contribute to the decline in the exchange rate clearly.
"According to the bank's recent decision, small merchants can now obtain dollars in an easy way, at the official price of 1,320 dinars, and with a monthly transfer ceiling of up to 100,000 dollars," said the media expert at the Iraqi Trade Bank, Aqil Al-Shuwaili, to Al-Iraqiya News, and was followed by the Iraqi News Agency (INA). He added,
"The financial transfer for the purpose of foreign trade by small merchants takes place by opening an account in the Iraqi Trade Bank,
from which the money is transferred to a second account outside Iraq, and
no money is spent to the merchant by hand, but rather the
process will be a financial transfer for the purpose of purchase." And he continued,
"The financing process will take place outside the electronic platform of the Central Bank, which requires the presence of a registrar of companies, and
financing takes place directly from the Iraqi Trade Bank, and the
purpose of this procedure is to facilitate small merchants' access to the dollar,
especially since they make up 60% of those in the market, and
we expect that this will contribute to a significant decline in the exchange rate."
Notable because these traders will not have to buy dollars from the market.” He pointed out that
"the process of receiving small merchants wishing to buy will start tomorrow, and
what is meant by small merchants are shop owners and individuals wishing to finance commercial purchases from abroad."
https://www.ina.iq/190553--.html
