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From the CBI today/To / banks authorized to exercise all banking

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Rocky


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From the CBI today/To / banks authorized to exercise all banking




To / banks authorized to exercise all banking - Financial companies approved the conversion of all (sale and purchase of foreign currency Regulation (26/3/9) for the year 2015) The adoption of the model


http://www.cbi.iq/documents/Announcemen15-3-2015.pdf

------------------------------------------------------------------------------------------
> No.
> 26/3/9 2015
>
>
> A. The
> Central Bank of Iraq to strengthen banks balances wishing
> remarks when
> correspondents abroad to finance legally permitted banking
> operations are
> described in detail in the attached list, according to the
> appropriate
> indicators to ensure the stability of the exchange rate and
> trade finance and
> other operations.
>
>
> B – the
> banks
> wishing to strengthen their balances dollar deposit the
> equivalent in Iraqi
> dinars in their accounts of the type 216 before fifteen days
> from the date of
> submission to ensure coverage amounts equal to their
> requests, that at least
> the amount required for a certain extent decided by the
> central bank.
>
>
> C – the
> bank
> submit a written application to the Directorate General
> Investments which
> enhance the tally required to have correspondents in
> overseas facilities with a
> copy of the entry to strengthen the balance of his account
> in Iraqi dinars from
> type 216, equivalent to the amount to be converted, to be
> submitted with the
> request and subsequent reinforcement disclosure shows the
> details of the
> amounts used, which was converted to its
> customers.
>
>
> D – the
> bank
> applies the principle of know-your-customer for the purpose
> of legal and
> banking safety procedures for a buyer to ensure Agencies and
> sales of foreign
> Various applications currency, and the Monitor compliance
> department of
> internal control and the unity of money laundering at the
> bank to play its role
> in this area and to report any suspicious transaction
> by.
>
>
> E – The
> Bank
> maintains its accounts with correspondents disclose it shows
> the movement of
> the account and uses of funds transferred by the central
> bank.
>
>
> F – the
> bank
> statements sent details of the amounts transferred in
> foreign currency by the
> Central Bank of Iraq
> and their use to the Directorate General of banking and
> credit control.
>
>
> G – be
> selling the dollar to strengthen the balance abroad for the
> purposes of all of
> (1187) dinars (one thousand one hundred and eighty-seven
> dinars) per dollar,
> while cash sales price shall be (1190) dinars (one thousand
> one hundred and
> ninety of dinars) per dollar.
>
>
> H – Work
> continues Ptalimatna Alopecia cash sale through the
> Department of buying and
> selling foreign currency window, and is not required to
> provide lists of the
> names of the dollar cash buyer, and reserves the vendors
> (banks and companies)
> disclosures detailed the names of buyers and documents
> enhanced it and
> regulated by the Central Bank of the
> field.
>
>
> I – The
> General Directorate of banking and credit control banks
> follow up the
> implementation of the instructions, and if there are any
> irregularities exposed
> the bank to the sanctions set forth in applicable laws and
> regulations.
>
>
> J – the
> central
> bank and the banks develop a plan to build capacity and
> create possibilities
> for expansion in the letters of credit in the banking
> practice of foreign trade.
>
>
> K – all
> previous instructions that are inconsistent with these
> instructions are
> canceled.
>
>
> These
> regulations implemented from the date of 02/22/2015.

tlm724

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[tlm724] I am going to email this to Shredd right now


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Shredd

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CO-ADMINISTRATOR
CO-ADMINISTRATOR
This originally was posted March 1st and is in regards to the type 216 accounts. The repost has the exact same language as the earlier. Again, protections for accounts and foreign exchange transactions.

Bottom line, the cbi is continuing comms regarding foreign exchange and the related protections. This is confirming that the project to delete the zeros is underway and the framework for the gradual appreciation of the dinar is adopted and in place.


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"Do not wear yourself out to get rich" - Proverbs 23:4

Reflection


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"In coming days" lol!

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