KTFA:
Clare: Translated from Arabic by Google
It was decided that the approved cash currency in all ATMs affiliated to the Iraqi Trade Bank shall be in the dinar currency only, and the dollar currency shall be canceled from those devices, as well as the national currency shall be adopted in all electronic financial services, in implementation of the decision of the Council of Ministers and the directives of the Central Bank of Iraq.
Clare: Central Bank: Car showrooms will deal in Iraqi dinars
4/18/2023
The Central Bank confirmed, on Tuesday, that the reform package is a major shift for the organized economy, while noting that dealing in the Iraqi dinar will extend to the private sector.
The bank’s advisor, Ihsan Shamran, told the official news agency, “The government supported the reform package launched by the Central Bank,” noting that “there is great harmony between the financial authority and the government.”
And he considered, “Countries whose legal systems are good have an excellent economy because they do not deal in dollars,” noting that “companies and government institutions responded, including Iraqi Airways, by relying on the strength of the Iraqi dinar, regardless of the exchange rate.”
He pointed out that “the public began to deal with the Iraqi dinar as a national currency,” explaining that “this will extend to the private sector, including car showrooms, and at a close stage, the furniture and electrical dealer will not need the dollar.”
And he went on to say, “This is considered a real step and a big shift for the organized economy,” explaining that “the real value of the dinar that exists now is more than one and a half dinars, because the bank’s reserves are very high and therefore the national currency cover is high.”
And he continued, “Iraq’s economic interface is the central bank, which takes corrective steps, the most important of which is the platform that transformed foreign trade in Iraq into real trade, after the relationship between the dollar that exits the country and the commodities was disconnected between them,” adding: “Through the platform, all These matters were seized, including the dollar that is sold by the central bank to the bank and then to the public, and the public asks the bank to transfer it to the merchant who exports the commodity to Iraq. It has been seized and has become clear.
He added, “Iraq and the Central Bank are in compliance with international concerns, including combating money laundering and terrorist financing, and that we have left the gray area and turned into a respected compliant country, and the Central Bank has now become an internationally recognized institution, as compliance is a feature of the ethical and legal features of work.” LINK
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Claare: Central Bank: Dealing in the Iraqi dinar will extend to the private sector
4/18/2023
The Central Bank confirmed, today, Tuesday, that the reform package is a major shift for the organized economy, while indicating that dealing in the Iraqi dinar will extend to the private sector.
The bank’s advisor, Ihsan Shamran, told the Iraqi News Agency (INA): “The government supported the reform package launched by the Central Bank,” noting that “there is great harmony between the financial authority and the government.”
He added, “Countries whose legal systems are good have an excellent economy because they do not deal in dollars,” noting, “Companies and government institutions responded, including Iraqi Airways, by relying on the strength of the Iraqi dinar, regardless of the exchange rate.”
And he continued, “The public began to deal in the Iraqi dinar as a national currency,” explaining, “This will extend to the private sector, including car showrooms, and at a close stage, the furniture and electrical dealer will not need the dollar.”
He stated, “This is a real step and a major shift for the organized economy,” explaining, ”
And he stated, “Iraq’s economic interface is the central bank, which takes corrective steps, the most important of which is the platform that transformed foreign trade in Iraq into real trade, after the relationship between the dollar that exits the country and the commodities was disconnected between them,” pointing out that “through the platform All these matters have been seized, including the dollar that is sold by the central bank to the bank and then to the public, and the public asks the bank to transfer it to the merchant who exports the commodity to Iraq. It has been seized and has become clear.
He pointed out, “Iraq and the Central Bank are in compliance with international concerns, including combating money laundering and financing terrorism,” explaining that “we have exited the gray area and turned into a respected compliant country, and the Central Bank has now become an internationally recognized institution, as compliance is a feature of the ethical and legal features of work.” . LINK
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