Economy| 12:56 – 01/04/2023
Baghdad – Mawazine News
The Central Bank of Iraq confirmed on Saturday that all financial transfers are monitored from the electronic platform, while noting that opening a window to sell dollars to citizens violates international regulations and norms.
“All financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform and the cash sale platform,” Assistant Director General of the Bank’s Investment Department, Mohammed Younis, told the official news agency.
He added, “These operations come within international standards for combating money laundering and terrorist financing, and are in accordance with all international norms and laws, and do not affect the reputation of Iraq, the Central Bank and financial institutions in the event of any defect in those transfers.”
He pointed out that “acceptable transfers are starting to increase continuously, and we expect the central bank to reach very high levels.”
Regarding the daily transfer rate of foreign currencies, Younis stressed that “the bank publishes daily its cash and remittance sales, which currently range from 100 to 150 million dollars, in addition to the cash sale,” expecting “an increase in transfers in the coming days.”
On the possibility of returning the dollar exchange rate to its previous price, Younis said that “the parallel price has begun to gradually decline on a daily basis during the past days,” pointing out that “the Central Bank is working hard to solve all the problems experienced by banks and traders in the financial transfer process.”
Regarding the possibility of opening a window to sell dollars to citizens at specific numbers monthly, Younis explained that “the dollar cannot be available to any citizen as it is not a national currency of Iraq,” noting that “the dollar must be allocated to deal outside Iraq for the purposes of financing trade, travel, treatment and study.”
“Opening a window to sell dollars to citizens violates all international controls and norms,” Younis continued. It’s over 29/N33
2 thoughts on “Central Bank: Opening a window to sell dollars to citizens violates international controls and norms”
If the Iraqi citizens do not use the US dollar, then they will need to carry a suitcase full of dinars to buy anything! RV now!
No problem. Iraq may start using the Chinese Yuan. The value of the dollar is dropping.