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CBI identifies the proportion of foreign currency granted to the banks depending on their capital
02/07/2012 17:00
Baghdad, July 2 (Rn) - The Central Bank of Iraq that he decided that depends on the size of the capital of government and private banks on foreign currency exchange process to develop the auction.
The Iraqi market is volatile in the weeks since the exchange rate of the dinar against the U.S. dollar, which experts attributed to the restrictions imposed by the Bank on the sales of hard currency.
Bank and the imposition of more stringent measures in the auction to sell the dollar after the currency had to go to neighboring countries, especially Syria and Iran, imposed economic sanctions on them.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank will depend on banks for capital allocation of hard currency to ensure that these contribute to the currency in trade support of Iraq."
"The banks will check the documents and business customers to ensure that they leave for neighboring countries in accordance with the Anti-Money Laundering Act 94 of 2004."
He pointed out that "Check the documents were not the prerogative of the Central Bank, which oversees the management of liquidity as it is not possible to check is the treatment of 6 thousand a day."
The main tasks of the central bank in maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul.
From: Jafar Allonan. Open: Abdullah Sabri
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02/07/2012 17:00
Baghdad, July 2 (Rn) - The Central Bank of Iraq that he decided that depends on the size of the capital of government and private banks on foreign currency exchange process to develop the auction.
The Iraqi market is volatile in the weeks since the exchange rate of the dinar against the U.S. dollar, which experts attributed to the restrictions imposed by the Bank on the sales of hard currency.
Bank and the imposition of more stringent measures in the auction to sell the dollar after the currency had to go to neighboring countries, especially Syria and Iran, imposed economic sanctions on them.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the central bank will depend on banks for capital allocation of hard currency to ensure that these contribute to the currency in trade support of Iraq."
"The banks will check the documents and business customers to ensure that they leave for neighboring countries in accordance with the Anti-Money Laundering Act 94 of 2004."
He pointed out that "Check the documents were not the prerogative of the Central Bank, which oversees the management of liquidity as it is not possible to check is the treatment of 6 thousand a day."
The main tasks of the central bank in maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.
The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul.
From: Jafar Allonan. Open: Abdullah Sabri
[You must be registered and logged in to see this link.]
