Twilight News / Suha Al-Kafaei, Acting Director of the International Islamic Bank, announced on Tuesday that the Central Bank of Iraq will soon approve the merchant’s deposit in dinars and receive the dollar according to the bank address in the country from which it imported.
The Islamic Bank said in a statement that the Chairman of the Board of Directors and the Plenipotentiary Director of the International Islamic Bank attended the meeting with the Deputy Governor of the Central Bank and the advisor in the presence of the general managers and other invited banks.
According to the statement, the instructions to be issued soon on the ceilings of remittances and the mechanism of credits were consulted, simplifying the procedures in order to facilitate international trade services for traders of all its types (individuals and companies), and the launch of credits and remittances according to specific ceilings to regulate the new banking work for the
A source familiar with the matter told Shafaq News on Monday that the Central Bank of Iraq will hold an “important meeting” on Tuesday on the crisis of the rise in the dollar exchange rate in the local market.
Meanwhile, the Chairman of the Finance Committee, Atwan Al-Atwani, met in the presence of members of the Committee, on Tuesday, the Governor of the Central Bank Ali Mohsen Al-Alaq at the committee’s headquarters.
According to a statement issued by the Information Office of the House of Representatives, during the meeting, they discussed the issue of fluctuating the rise in the exchange rates of the Iraqi dinar against the dollar, and the possibility of controlling it to preserve the market, as well as discussing its repercussions on citizens and the steps of the Central Bank and the procedures followed by it.
The dollar against the dinar has risen unprecedentedly recently due to measures imposed by the United States of America to curb currency smuggling from Iraq.
On Monday, January 19, the Central Bank of Iraq announced a package of decisions that would return the foreign currency market to normal after the rise in it.
The resolutions included the following paragraphs:
1- Allowing banks participating in the foreign currency buying and selling window to buy any amounts in foreign currency and deposit them with this bank in accounts used for external transfer purposes, and paying interest/returns for those balances as determined by this bank.
2- Facilitating the financing of private sector trade through Iraqi banks and meeting the request for external transfers by enhancing the balances of banks in their correspondents in other currencies as well as the currency of the US dollar (Chinese Yuan, Euro, UAE Dirham, Jordanian Dinar and others).
3- Opening outlets for the sale of foreign currency in government banks to the public for travel purposes (treatment, Hajj Umrah, study, etc.) in accordance with the controls of selling and selling foreign currency, as well as meeting the requests of customers of those banks for the purposes of financing foreign trade.
4- Reducing the sale price of the dollar to the beneficiary (cardholder) he uses while traveling or paying his purchases online to be (1465) dinars to the dollar instead of (1470) dinars to the dollar. The dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar.