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View Full Version : Work remittances system is designed to control the amount of money sent abroad



BatmaninIraq
02-27-2015, 07:53 PM
Parliamentary Finance for: Work remittances system is designed to control the amount of money sent abroad

27/02/2015

Parliamentary Finance Committee revealed that the work of the Iraqi Central Bank remittance system and sell the currency is designed to control the amount of money sent abroad.

Said committee member Najiba Najib said in an interview for "direction Press" that the system preclude any party from exploiting the situation the current security of the country and to control the exchange rate a way that would support the budget and cover the deficit indicating that the system is a way to curb money laundering.

It is said that the Iraqi Central Bank announced an auction system to stop working and start currency remittance system. Indicating that the move contribute to the stability of the Iraqi dinar exchange rate against foreign currency through the optimal use of foreign exchange resources to meet the needs of all and not the central occupancy of functions which are at the heart of the work of the banking system, while adhering to the requirements of anti-money laundering and the financing of terrorism and smuggling of currency law, and the governor Iraqi Central Bank on the Keywords announced that it is not true that the central bank remains preoccupied with selling the currency.