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Traders are pulling hard currency of the country
Date: Mon 01/30/2012 9:13
Baghdad / follow-up range
Called specialists in economic affairs to the country out of Chapter VII imposed by the United Nations, to give the trader the freedom to deal with international banks sober and well-known in the process of transfer of funds (money orders) when the importation of goods from abroad, for fear of exposure of the dinar to money laundering
Or embezzlement by shell banks and informal in most countries of the world, calling the talk of the Agency (news) to move toward the United Nations to lift the seventh item in the same time, central bank possesses large reserves of hard currency to meet the said member of the Economic Council Representatives Nora Salem: The well-known international banks do not deal with the Iraqi traders they deal in huge amounts, and Iraq still implies under Chapter VII, they are afraid of dealing with countries subject to this item.
The Salem, according to the Agency (news) there is a bold decision issued by the Economic Committee of the Council of Ministers established the Bank shareholder participation by local and international banks in order to facilitate the work of traders and investors in the process of transferring large sums of money to and from Iraq, calling for the necessity of applying for the protection of the funds loss of local government and called Salem, and House of Representatives to move towards the lifting of what it called "the injustice of the seventh item" on Iraq, the fact that there are many things Iraq has stalled because of this separation imposed by the United Nations.
It continued that the Iraqi trader has a big role in the laundering of funds Iraqi since it deals with the banks is not an official because of Chapter VII imposed on Iraq has dismissed a member of the Economic Commission Vice Qusay Fri incidence of money laundering Iraq during the current period, particularly in Baghdad, the fact that there is tight control of by the central bank the money to leave and enter the country, but fear the exposure of funds to the embezzlement of the Iraqi trader. Juma said, according to the Agency (news): expanded meeting was held between the Economic Commission representative and the Department of money laundering of the central bank, and notified us of a central bank with adequate information and the development of treatments sufficient for the emergence of any cases of money laundering or the like. Makdaadm the phenomenon of the process of bleaching money, but there are operations to drain the difficult process of Iraq, the Iranians and the two walls as merchants as a result of the deterioration of their currency because of political turmoil in which they live, stating: There are traders from Iran and Syria to withdraw their dollars from Iraqi banks and local markets, which led to the depletion of foreign currency in Iraq. While the economic expert called on behalf of the beautiful to the need to deal with the Iraqi trader staid banking world, known in its financial transactions in order to obtaining the financial guarantees in light of the smuggling and money laundering, as a result of the deteriorating political situation in the region, especially in Syria and Iran.
Jameel said, according to the Agency (news): Iraq still under Chapter VII, making the dealer restricted from dealing with international banks in the process of turning his money through the import of commodities and goods from abroad, despite the fact that international banks provide guarantees to enter the goods match the specifications and they refused to deal amounts of imports of goods shipped by the poor, calling for the need to lift the seventh item on Iraq to facilitate financial transactions with international banks.
The Anton: that bank credit is a form of systems to ensure the trader and exporter of handing the funds against the shipment of goods according to the specifications, noting that the Iraqi trader is now paying a portion of exaggeration or all of the processed and shipped his goods without the presence of safeguards and controls on the type of imported goods to the interior, especially with Iran which lead to money laundering operations and other operations outside the law.
For his part, Chairman of the Economy Bank Husam Obeid on the importance of raising Iraq's Chapter VII as a grant to the Iraqi banks to deal with the international banks.
The Prime Minister said, according to the Agency (news): Iraq is still bound to item VII of the UN, thus affecting the work of Iraqi banks being given a bad reputation in its external and international, which led to the refusal of international banks to deal with Iraqi banks and merchant Iraqi import of goods from abroad. Calling for the need to remove Iraq from Chapter VII being granted the freedom to deal with international banks, particularly the States represented the UN Security Council, calling the move towards the lift for the advancement of the Iraqi economy and Ttaiwiraml Iraqi banks.
To that, the central bank possesses large reserves of hard currency to cope with the phenomenon of demand, indicating that there are internal and external factors behind this phenomenon.
The bank said in a statement issued yesterday that he "has foreign reserves of the large, high-capacity in the face of any potential caused by the growing phenomenon of demand for foreign currency based on the monetary policy instruments available to control the levels of liquidity and cash flows in order to achieve the desired economic stability.
The bank said that "the phenomenon of high demand for foreign currency in the window of the Iraqi Central Bank for the sale and purchase of the dollar in recent weeks, linked to the increasing public expenditure and its impacts on the behavior of individual demand in the market for foreign currency, which is a standalone application locally on goods and services and external benefits."
He said the bank that "the situation and the complexities in some regional countries surrounding Iraq and exposed to the problems in international economic relations has cast Bdilalha are other currents in the formation of additional non-directly in the demand for foreign currency through the overlapping regional trade and the various ways of funding." The central bank has revealed on the sixth of January 2012, a rise in foreign currency reserves to $ 60 billion for the first time in the history of Iraq, after it had been in 2010 had reached $ 58 billion. The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, on the ninth of January 2012, that the high exchange rate of the dollar against the dinar in the local markets in addition to the high central bank sales of foreign exchange, trade finance due to the neighboring countries of Iraq by the merchants.
The central bank held daily sessions for the sale and purchase of foreign currencies with local banks, which finances the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, the sales, either in cash or in the form of money orders sold abroad in return for a commission of certain.
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Date: Mon 01/30/2012 9:13
Baghdad / follow-up range
Called specialists in economic affairs to the country out of Chapter VII imposed by the United Nations, to give the trader the freedom to deal with international banks sober and well-known in the process of transfer of funds (money orders) when the importation of goods from abroad, for fear of exposure of the dinar to money laundering
Or embezzlement by shell banks and informal in most countries of the world, calling the talk of the Agency (news) to move toward the United Nations to lift the seventh item in the same time, central bank possesses large reserves of hard currency to meet the said member of the Economic Council Representatives Nora Salem: The well-known international banks do not deal with the Iraqi traders they deal in huge amounts, and Iraq still implies under Chapter VII, they are afraid of dealing with countries subject to this item.
The Salem, according to the Agency (news) there is a bold decision issued by the Economic Committee of the Council of Ministers established the Bank shareholder participation by local and international banks in order to facilitate the work of traders and investors in the process of transferring large sums of money to and from Iraq, calling for the necessity of applying for the protection of the funds loss of local government and called Salem, and House of Representatives to move towards the lifting of what it called "the injustice of the seventh item" on Iraq, the fact that there are many things Iraq has stalled because of this separation imposed by the United Nations.
It continued that the Iraqi trader has a big role in the laundering of funds Iraqi since it deals with the banks is not an official because of Chapter VII imposed on Iraq has dismissed a member of the Economic Commission Vice Qusay Fri incidence of money laundering Iraq during the current period, particularly in Baghdad, the fact that there is tight control of by the central bank the money to leave and enter the country, but fear the exposure of funds to the embezzlement of the Iraqi trader. Juma said, according to the Agency (news): expanded meeting was held between the Economic Commission representative and the Department of money laundering of the central bank, and notified us of a central bank with adequate information and the development of treatments sufficient for the emergence of any cases of money laundering or the like. Makdaadm the phenomenon of the process of bleaching money, but there are operations to drain the difficult process of Iraq, the Iranians and the two walls as merchants as a result of the deterioration of their currency because of political turmoil in which they live, stating: There are traders from Iran and Syria to withdraw their dollars from Iraqi banks and local markets, which led to the depletion of foreign currency in Iraq. While the economic expert called on behalf of the beautiful to the need to deal with the Iraqi trader staid banking world, known in its financial transactions in order to obtaining the financial guarantees in light of the smuggling and money laundering, as a result of the deteriorating political situation in the region, especially in Syria and Iran.
Jameel said, according to the Agency (news): Iraq still under Chapter VII, making the dealer restricted from dealing with international banks in the process of turning his money through the import of commodities and goods from abroad, despite the fact that international banks provide guarantees to enter the goods match the specifications and they refused to deal amounts of imports of goods shipped by the poor, calling for the need to lift the seventh item on Iraq to facilitate financial transactions with international banks.
The Anton: that bank credit is a form of systems to ensure the trader and exporter of handing the funds against the shipment of goods according to the specifications, noting that the Iraqi trader is now paying a portion of exaggeration or all of the processed and shipped his goods without the presence of safeguards and controls on the type of imported goods to the interior, especially with Iran which lead to money laundering operations and other operations outside the law.
For his part, Chairman of the Economy Bank Husam Obeid on the importance of raising Iraq's Chapter VII as a grant to the Iraqi banks to deal with the international banks.
The Prime Minister said, according to the Agency (news): Iraq is still bound to item VII of the UN, thus affecting the work of Iraqi banks being given a bad reputation in its external and international, which led to the refusal of international banks to deal with Iraqi banks and merchant Iraqi import of goods from abroad. Calling for the need to remove Iraq from Chapter VII being granted the freedom to deal with international banks, particularly the States represented the UN Security Council, calling the move towards the lift for the advancement of the Iraqi economy and Ttaiwiraml Iraqi banks.
To that, the central bank possesses large reserves of hard currency to cope with the phenomenon of demand, indicating that there are internal and external factors behind this phenomenon.
The bank said in a statement issued yesterday that he "has foreign reserves of the large, high-capacity in the face of any potential caused by the growing phenomenon of demand for foreign currency based on the monetary policy instruments available to control the levels of liquidity and cash flows in order to achieve the desired economic stability.
The bank said that "the phenomenon of high demand for foreign currency in the window of the Iraqi Central Bank for the sale and purchase of the dollar in recent weeks, linked to the increasing public expenditure and its impacts on the behavior of individual demand in the market for foreign currency, which is a standalone application locally on goods and services and external benefits."
He said the bank that "the situation and the complexities in some regional countries surrounding Iraq and exposed to the problems in international economic relations has cast Bdilalha are other currents in the formation of additional non-directly in the demand for foreign currency through the overlapping regional trade and the various ways of funding." The central bank has revealed on the sixth of January 2012, a rise in foreign currency reserves to $ 60 billion for the first time in the history of Iraq, after it had been in 2010 had reached $ 58 billion. The Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, on the ninth of January 2012, that the high exchange rate of the dollar against the dinar in the local markets in addition to the high central bank sales of foreign exchange, trade finance due to the neighboring countries of Iraq by the merchants.
The central bank held daily sessions for the sale and purchase of foreign currencies with local banks, which finances the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, the sales, either in cash or in the form of money orders sold abroad in return for a commission of certain.
[You must be registered and logged in to see this link.]
