His Excellency the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received yesterday, Thursday, a number of leaders of the security services and owners of exchange companies and mediating the sale and purchase of foreign currency. His Excellency discussed ways of coordination and procedures between the Central Bank and the concerned agencies, and determining roles and tasks in the light of the directives of the Commander-in-Chief of the Armed Forces.
During the meeting, guidance was made on the following:
1- The Central Bank is the only body responsible for monitoring and inspecting banks, exchange companies and non-bank financial institutions approved by the Central Bank, in accordance with its law.
2- The transfer of cash (in dinars and dollars) and any other currencies, is allowed inside Iraq for all natural and legal persons, including banks, exchange companies, mediating the sale and purchase of foreign currency, and its branches in all governorates.
3- In order to prevent the removal of cash across borders and ports, which exceed what is specified in the instructions of the Central Bank (10,000) ten thousand dollars, the competent security authorities shall follow up and inspect vehicles in the roads and paths leading to the border to prevent smuggling and take legal measures in coordination with the Central Bank, while providing the bank with the amounts of banknotes discovered
4- The amounts sent from banks and companies to their branches shall be accompanied by documents from the sender showing the details of the sender and the consignee, and shall be submitted at the points of external control upon request. In case of suspicion or need to confirm, the Banking Control Department at the Central Bank shall be contacted on the numbers (07809224663 -0785
The governor praised the role of the security authorities in revealing attempts to smuggle the dollar in the past days.
the Central Bank of Iraq
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