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Source: Al-Sabah - 05/02/2012
Central banks need to disclose its customers to obtain the foreign currency
Central Bank of Iraq committed all Iraqi banks participating in the auction to disclose its customers to obtain foreign currency, attributing the cause of the lack of sales of the currency during the past two days to the lack of definition of the buyer himself. The deputy governor of the Bank Mazhar Mohammad Saleh in an interview for "Alsumaria News", "part of the duties of the central bank regulatory and supervisory and in accordance with the principles of the Basel Convention International that Iraq is a member is to know the customer who buys currency from the bank through banks to prevent any breaches that may affect the security of the state. "
Saleh added that "the Bank has committed all banks participating in the auction to disclose its customers through their access to the currency," adding that "the Bank on condition that the customer's current account in the bank and free certified check and Ervgah with the transaction when you buy the currency." Saleh continued that "the lack of sales of the currency during the past two days to the lack of definition of the buyer himself, "pointing out that" there are a lot of purchases in violation of the rules of the legal and banking as are the names and interfaces are not known. "Saleh pointed out that" some Iraqi banks do not encourage the process of opening current accounts where ", asserting that "the bank has large reserves of currency as possible to cover the market for twenty times." The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that financed traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash, or in the form of money orders sold out for a commission of certain. The Central Bank of Iraq, it was revealed, 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 Central Bank of Iraq appearance of Mohammed in the ninth of January last, in an interview for "Alsumaria News", that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, as well as higher sales of the Iraqi Central Bank of foreign currency due to funding trade in the neighboring countries of Iraq by the merchants.
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Central banks need to disclose its customers to obtain the foreign currency
Central Bank of Iraq committed all Iraqi banks participating in the auction to disclose its customers to obtain foreign currency, attributing the cause of the lack of sales of the currency during the past two days to the lack of definition of the buyer himself. The deputy governor of the Bank Mazhar Mohammad Saleh in an interview for "Alsumaria News", "part of the duties of the central bank regulatory and supervisory and in accordance with the principles of the Basel Convention International that Iraq is a member is to know the customer who buys currency from the bank through banks to prevent any breaches that may affect the security of the state. "
Saleh added that "the Bank has committed all banks participating in the auction to disclose its customers through their access to the currency," adding that "the Bank on condition that the customer's current account in the bank and free certified check and Ervgah with the transaction when you buy the currency." Saleh continued that "the lack of sales of the currency during the past two days to the lack of definition of the buyer himself, "pointing out that" there are a lot of purchases in violation of the rules of the legal and banking as are the names and interfaces are not known. "Saleh pointed out that" some Iraqi banks do not encourage the process of opening current accounts where ", asserting that "the bank has large reserves of currency as possible to cover the market for twenty times." The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that financed traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash, or in the form of money orders sold out for a commission of certain. The Central Bank of Iraq, it was revealed, 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 Central Bank of Iraq appearance of Mohammed in the ninth of January last, in an interview for "Alsumaria News", that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, as well as higher sales of the Iraqi Central Bank of foreign currency due to funding trade in the neighboring countries of Iraq by the merchants.
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