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After depriving about 200 commercial companies of the dollar... Will some goods “disappear” from the market?
Economy 2024-06-08 | 03:24
4,496 views
Alsumaria News-Economy
Today, Saturday, the Baghdad Chamber of Commerce outlined the expected effects of the Central Bank of Iraq’s recent decision to deprive 197 general trading companies from the currency auction, due to violations, while indicating the possibility of these companies returning to the auction.
Baghdad Chamber of Commerce spokesman, Rashid Al-Saadi, told Al-Sumaria News,
“The suspension of 197 companies and deprivation of obtaining the dollar at the official rate from the Central Bank of Iraq came after violations were flagged and the provision of unreal and exaggerated information about their trade and imports,” noting that“
some of their transactions The information you provided is fictitious, and
in light of these violations, this penalty was imposed and they were removed from the list for obtaining dollars.”
Regarding whether depriving these companies will have expected effects on the market or the possibility of the “disappearance” of some types of goods and merchandise, especially since these companies are all general trade and cigarette import companies, Al-Saadi said,
“This number does not represent anything, as there are thousands of companies entering the currency auction for the purpose of obtaining dollars.”
Therefore, the increase in these companies will not have a significant impact on the market, whether in terms of goods or in terms of the rise in the price of the dollar.” He explained that
"the number of companies and merchants who enter through the currency platform is large and increasing day after day, after the facilities of the Central Bank and the increased experience of bank employees, as
previously merchants were facing problems and did not accept to buy dollars from the Central Bank due to the difficulty of dealing. However, employees...
"The banks have entered into training courses and the process has become easier."
Regarding the future of these companies and whether they will stop their work or go to buy the dollar from the parallel market, he stressed that
“these companies can adjust their legal status and submit a request to the Central Bank to reconsider the decision after these companies apply the required standards,” noting that “this matter
This happened earlier with 5 major and well-known companies in Iraq, where they were deprived of the dollar after a penalty was imposed on one of the banks,
but these companies submitted a request to the Central Bank, met the required standards, and returned to the currency auction easily.”
https://www.alsumaria.tv/news/economy/490639/بعد-حرمان-نحو-200-شركة-تجارية-من-الدولار-هل-تختفي-بعض-السلع-من-السوق؟
Economy 2024-06-08 | 03:24
4,496 views
Alsumaria News-Economy
Today, Saturday, the Baghdad Chamber of Commerce outlined the expected effects of the Central Bank of Iraq’s recent decision to deprive 197 general trading companies from the currency auction, due to violations, while indicating the possibility of these companies returning to the auction.
Baghdad Chamber of Commerce spokesman, Rashid Al-Saadi, told Al-Sumaria News,
“The suspension of 197 companies and deprivation of obtaining the dollar at the official rate from the Central Bank of Iraq came after violations were flagged and the provision of unreal and exaggerated information about their trade and imports,” noting that“
some of their transactions The information you provided is fictitious, and
in light of these violations, this penalty was imposed and they were removed from the list for obtaining dollars.”
Regarding whether depriving these companies will have expected effects on the market or the possibility of the “disappearance” of some types of goods and merchandise, especially since these companies are all general trade and cigarette import companies, Al-Saadi said,
“This number does not represent anything, as there are thousands of companies entering the currency auction for the purpose of obtaining dollars.”
Therefore, the increase in these companies will not have a significant impact on the market, whether in terms of goods or in terms of the rise in the price of the dollar.” He explained that
"the number of companies and merchants who enter through the currency platform is large and increasing day after day, after the facilities of the Central Bank and the increased experience of bank employees, as
previously merchants were facing problems and did not accept to buy dollars from the Central Bank due to the difficulty of dealing. However, employees...
"The banks have entered into training courses and the process has become easier."
Regarding the future of these companies and whether they will stop their work or go to buy the dollar from the parallel market, he stressed that
“these companies can adjust their legal status and submit a request to the Central Bank to reconsider the decision after these companies apply the required standards,” noting that “this matter
This happened earlier with 5 major and well-known companies in Iraq, where they were deprived of the dollar after a penalty was imposed on one of the banks,
but these companies submitted a request to the Central Bank, met the required standards, and returned to the currency auction easily.”
https://www.alsumaria.tv/news/economy/490639/بعد-حرمان-نحو-200-شركة-تجارية-من-الدولار-هل-تختفي-بعض-السلع-من-السوق؟
