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The central bank reduces the letter of guarantee and wages of supervision and follow-up

The Central Bank of Iraq announced on Sunday the reduction of the letter of guarantee and wages of supervision and follow-up of companies to mediate the sale and purchase of foreign currencies.

“Based on the decision of the bank’s board of directors, it was decided to reduce the guarantee letter provided by the brokerage companies to buy and sell foreign currencies to become 10% of the company’s capital instead of 50% and the amount of the guarantee 50 million dinars,” the bank said in a statement. Instead of 100 million dinars.“

The bank added that “the fees of supervision and follow-up has also been reduced to 500 thousand dinars instead of one million dinars, and the final audit fees have been reduced to 250 thousand dinars instead of 500 thousand dinars.” Source