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BatmaninIraq
06-12-2015, 06:52 AM
The central bank approves the return 14 banks were excluded from the currency auction

The Iraqi Association of Banks, on Thursday, the Central Bank of Iraq agreed to the return of fourteen banks that were excluded from the auction currency, indicating that the bank decided traceable terms. The executive director of the Association Tariq for “tomorrow Press,”

that “the Bank CBI issued a few days before the decision to deport 14 regional banks from participating in the auction currency, as well as to stop the strengthening of their assets abroad because of its failure to pay all amounts due Bzmtha all deductions and tax secretariats and customs and transferred to the account of the General Authority for taxes and the General Authority for Customs. ” He added that ” Association moved into their work tasks to the Central Bank explained the position of those banks and the consequences of the impact of the resolution on the market and the dollar exchange rate, “noting that” the central bank took into consideration those actions and decided to return these banks are all to currency auction. ”

He stressed that “the central bank decided to gives to those banks 10 days to arrange and put files on deductions for tax and customs, and to the contrary to be excluded once and for all. ” He said Tariq that “private banks seeking to market development and support of the Iraqi dinar at the same time through plans and projects.” She had issued the Central Bank of Iraq Monday’s decision to exclude 14 of the Bank to engage in currency auction and Khrmanh from buying the dollar, causing a rise the dollar’s exchange rate against the dinar.

BatmaninIraq
06-12-2015, 06:53 AM
Private banks: the central bank to determine the price lower than the market to convert the dollar caused great overwhelm.

The member of the Association of private banks Ali Tariq, Thursday, to determine central bank rate 1200 dinars to convert the next dollar from abroad led to a major disruption because of him the difference and the market price, and between that it is currently working with the central bank to postpone the implementation of this resolution until the stability of the dollar exchange rate, said Tariq in an interview that “the Central Bank issued, on 25 May last, instructions for banks to be deposited in cash in dollars in the central bank can pull the dollar but overpriced next foreign remittances in dollars, the central bank converts the Iraqi dinar at a price of 1200 dinars and pass it to private banks,” He pointed out that “private banks are obliged to fulfill its obligations to its customers in Iraqi dinars and at this price.” He said Tariq that “the problem lies in the price of 1200 and the market price because the market is different from the largely price and this is what led to a significant disruption,” noting, “We are currently working with the central bank to postpone the implementation of this resolution until the stability of the dollar in the market and the bank rate.” He continued by Association of private banks that “private banks implemented a decision from the date of issue and this has led to problems, especially exchange for foreign companies being involved in dollars to pay their dues and salaries of their employees,” noting, “

We were expecting a significant decline in the market which is what happened but suddenly the dollar rose main reason is Display process and demand in the market because there is a great demand for the dollar because of the massive imports imported by the private sector as well as the decline in the price of oil. ” The Iraqi Association of Banks announced that, in (23 May 2015),

an initiative to reduce the cash sales to the dollar for the citizens and businesses of banking, and showed it will be sold for 1193 dinars to the dollar. The dollar price in the local markets for the Iraqi dinar gradually to reach during the last period to 1335 dinars to the dollar, compared to 1200 dinars to the dollar through the end of last year 2014.