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A financial expert for Iraq Observer: Western Union set a ceiling on its financial transfers from Iraq and did not stop them completely.
July 12, 2024
Baghdad/Iraq Observer
The expert in financial and banking affairs, Mustafa Hantoush, suggested that the Western Union Banking Transfer Company had set a ceiling for sending money transfers from Iraq and had not suspended them at all. Hantoush told the Iraq Observer,
“Western Union has reduced the size of its financial transfers. For example, instead of transferring an amount of one thousand dollars, it will become $500.” He added,
“The Central Bank did not issue any official statement regarding the arrest of Western Union for money transfers from Iraq,” pointing out that
this information must be verified from its main source, which is the Central Bank.
Local news agencies reported that the largest remittance company in the world, Western Union, had stopped its remittances from Iraq without mentioning further details at a time when the dollar was witnessing a continuous rise, while
a prominent financial source who preferred to remain anonymous told Iraq Observer that the matter was related to setting a ceiling for remittances. Finance issued by Western Union from Iraq, ruling out stopping it permanently.
The financial markets in Iraq are witnessing a state of instability in the exchange rate of the dollar against the Iraqi dinar, as it has been approaching 150,000 days ago in light of the anticipation of the visit of the Governor of the Central Bank of Iraq to the United States of America.
Economic researcher Ziad Al-Hashemi said in a tweet on the He added:
The reasons for the problem remaining unresolved, and the
presence of strong parties hovering around the Central Bank and searching for the dollar, without accountability, neutralization, or internal Iraqi restrictions, will make all the pledges that Al-Alaq will make of little real value, as the same person has previously made the same pledges throughout the decade. Over the past years, the same problem continues without a solution, according to him.
https://observeriraq.net/خبير-مالي-لعراق-أوبزيرفر-ويسترن-يونين/
July 12, 2024
Baghdad/Iraq Observer
The expert in financial and banking affairs, Mustafa Hantoush, suggested that the Western Union Banking Transfer Company had set a ceiling for sending money transfers from Iraq and had not suspended them at all. Hantoush told the Iraq Observer,
“Western Union has reduced the size of its financial transfers. For example, instead of transferring an amount of one thousand dollars, it will become $500.” He added,
“The Central Bank did not issue any official statement regarding the arrest of Western Union for money transfers from Iraq,” pointing out that
this information must be verified from its main source, which is the Central Bank.
Local news agencies reported that the largest remittance company in the world, Western Union, had stopped its remittances from Iraq without mentioning further details at a time when the dollar was witnessing a continuous rise, while
a prominent financial source who preferred to remain anonymous told Iraq Observer that the matter was related to setting a ceiling for remittances. Finance issued by Western Union from Iraq, ruling out stopping it permanently.
The financial markets in Iraq are witnessing a state of instability in the exchange rate of the dollar against the Iraqi dinar, as it has been approaching 150,000 days ago in light of the anticipation of the visit of the Governor of the Central Bank of Iraq to the United States of America.
Economic researcher Ziad Al-Hashemi said in a tweet on the He added:
The reasons for the problem remaining unresolved, and the
presence of strong parties hovering around the Central Bank and searching for the dollar, without accountability, neutralization, or internal Iraqi restrictions, will make all the pledges that Al-Alaq will make of little real value, as the same person has previously made the same pledges throughout the decade. Over the past years, the same problem continues without a solution, according to him.
https://observeriraq.net/خبير-مالي-لعراق-أوبزيرفر-ويسترن-يونين/
