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Central Bank required banks to disclose their
customers to get the foreign currency
02/02/2012 - 13:15
Economics and Business | Source:
13 View
Sumerian News / Baghdad
committed Central Bank of Iraq, Thursday, all Iraqi banks participating in the auction to disclose its customers to obtain foreign currency, attributing the cause of the lack of sales of the currency during the past two days to the lack of definition of the buyer himself. Deputy Governor of the Bank Mazhar Mohammad Saleh in an interview for "Alsumaria News", "part of the duties of the central bank regulatory and supervisory and in accordance with the principles of the Basel Convention International that Iraq is a member is to know the customer who buys currency from the bank through banks to prevent any breaches that may affect the security of the state." Saleh added that "the Bank obliged all banks participating in the auction to disclose its customers through their access to the currency, "adding that" the Bank stipulated that the customer's current account in the bank and free certified check and Ervgah with the transaction when you buy the currency. " Saleh continued that "the lack of sales of the currency during the past two days to the lack of definition of the buyer himself, "pointing out that" there are a lot of purchases in violation of the rules of the legal and banking as are the names and interfaces are not known. " Saleh pointed out that "some Iraqi banks do not encourage the process of opening current accounts where," asserting that "the Bank has large reserves of currency as possible to cover the market for twenty times. " The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that fund the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash , or in the form of money orders sold out for a commission of certain. accused member of the Iraqi Taha Lahibi, January 28 last, Iran enter the Iraqi currency counterfeit for the purchase of hard currency from the market, to assist its customers in Iraq, in what was considered the Iraqi Central Bank, in the January 29 the past, that the rate of currency Iraqi counterfeit normal compared to the rest of the States, with pointed out that those currencies are entering the market from three sources. The Deputy Governor of Central Bank of Iraq appearance of Mohammed in the ninth month of January, in an interview for "Alsumaria News", that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, as well as higher sales of the Iraqi Central Bank of foreign currency due to the financing of trade of neighboring countries by the Iraqi traders. The Central Bank of Iraq under the law issued on the sixth of March of 2004, an independent body, where is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector to promote a competitive financial system, independent.
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customers to get the foreign currency
02/02/2012 - 13:15
Economics and Business | Source:
13 View
Sumerian News / Baghdad
committed Central Bank of Iraq, Thursday, all Iraqi banks participating in the auction to disclose its customers to obtain foreign currency, attributing the cause of the lack of sales of the currency during the past two days to the lack of definition of the buyer himself. Deputy Governor of the Bank Mazhar Mohammad Saleh in an interview for "Alsumaria News", "part of the duties of the central bank regulatory and supervisory and in accordance with the principles of the Basel Convention International that Iraq is a member is to know the customer who buys currency from the bank through banks to prevent any breaches that may affect the security of the state." Saleh added that "the Bank obliged all banks participating in the auction to disclose its customers through their access to the currency, "adding that" the Bank stipulated that the customer's current account in the bank and free certified check and Ervgah with the transaction when you buy the currency. " Saleh continued that "the lack of sales of the currency during the past two days to the lack of definition of the buyer himself, "pointing out that" there are a lot of purchases in violation of the rules of the legal and banking as are the names and interfaces are not known. " Saleh pointed out that "some Iraqi banks do not encourage the process of opening current accounts where," asserting that "the Bank has large reserves of currency as possible to cover the market for twenty times. " The central bank held the Iraqi daily sessions for buying and selling foreign currencies with Iraqi banks that fund the traders from the private sector, excluding public holidays on which depends the World Bank for these auctions, and the sales either in cash , or in the form of money orders sold out for a commission of certain. accused member of the Iraqi Taha Lahibi, January 28 last, Iran enter the Iraqi currency counterfeit for the purchase of hard currency from the market, to assist its customers in Iraq, in what was considered the Iraqi Central Bank, in the January 29 the past, that the rate of currency Iraqi counterfeit normal compared to the rest of the States, with pointed out that those currencies are entering the market from three sources. The Deputy Governor of Central Bank of Iraq appearance of Mohammed in the ninth month of January, in an interview for "Alsumaria News", that the high exchange rate of the dollar against the Iraqi dinar in the Iraqi market, as well as higher sales of the Iraqi Central Bank of foreign currency due to the financing of trade of neighboring countries by the Iraqi traders. The Central Bank of Iraq under the law issued on the sixth of March of 2004, an independent body, where is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector to promote a competitive financial system, independent.
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