Tishwash: Trade Bank of Iraq announces measures to support exchange rate stability
The Trade Bank of Iraq (TBI) announced today, Wednesday, that it has taken a series of measures to support the stability of the exchange rate and prevent exploitation by speculators.
The Director of the Tahrir Branch at the Iraqi Bank, Yarub Al-Hashemi, told the Iraqi News Agency (INA): “The bank’s management has taken a series of measures to stabilize the exchange rate and prevent manipulation in the market, including increasing working hours in the bank’s branches, which has had an impact on the speed of completing merchants’ transactions, the smoothness of financial transfers, and eliminating the momentum in this regard.”
He added, “There is a series of measures being taken successively that will have a clear impact on controlling the exchange rate, preventing speculators, and limiting the granting of dollars to the beneficiaries exclusively.”
Prime Minister Mohammed Shia Al-Sudani directed “intensifying inspection procedures in financial transfer operations and not being lenient or lenient in pursuing speculators who exploit the crises the region is going through; to achieve personal profits and benefits at the expense of the public interest of the country.” link
Tishwash: Rafidain clarifies the Cabinet’s decision to approve the contract with K2 Integrity
Rafidain Bank clarified, today, Wednesday, the decision of the Council of Ministers regarding approval of contracting with the company (K2 Integrity).
A statement by the bank received by “Al-Eqtisad News” stated that “within the banking reform plan adopted by the government of Prime Minister Mohammed Shia Al-Sudani, and for the purpose of developing a framework for governance, policies and procedures related to combating money laundering and terrorist financing in accordance with the requirements of correspondent banks, the Council of Ministers approved the bank’s contracting with experts specialized in the field of compliance, combating money laundering and risk management.”
The statement added, “This will contribute to strengthening the role of Rafidain Bank in activating international trade and facilitating the procedures for opening accounts with reliable foreign correspondent banks link
