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Long-Presse / Baghdad
Revealed Association of private banks, on Tuesday, the Central Bank of Iraq to issue new instructions to regulate the process of selling the dollar to cover the imports of the private sector, while confirming that the directive was intended to maintain the dinar’s exchange rate against the dollar and the fight against money laundering and maintaining foreign currency.
The Association of private banks in a statement received (range Press) copy of it, “the Iraqi Central Bank, has issued new instructions to regulate the sale of dollar transactions for the purposes of coverage of imports by the private sector,” indicating that “instruction regarding the organization of the dollar insurance operations for the purposes of issuing money orders and opening letters of credit trends that will make Iraqi banks, which mediates between the importer and the central bank directly. “
She Association in its statement that “the instruction stresses the need to achieve the main objective of the Central Bank, a knowledge of the ultimate beneficiary and the preservation of hard currency for Iraq through the optimal use in order to serve the national economy and sustainable development,” noting that “the instruction came after the classification of the central bank for banks to build groups the efficiency of the units compliance and anti-money laundering and risk management available in banks and liquidity. “
The Association that “the new regulations flowing toward the central goals of the Central Bank and Gaza Strip Iraqi banking to maintain the dinar’s exchange rate against the dollar and stimulate the banks to work with high transparency and a large commitment to rules and regulations to comply with the law of money laundering and terrorism financing No. 39 of 2015”.
She drew Association to “its commitment to the application of the Central Bank instructions and urges banks to increase their role in achieving economic development and maintain the dollar’s exchange rate would contribute to restoring confidence in the banking sector during the current year and post Daesh,” calling operating banks in Iraq to “continued cooperation with the central bank and the fulfillment of all the requirements set forth in the instructions and to contribute to the success of his future plans that are in the national economy. “