Wed. PM TNT Iraq News Articles 2-22-23



Government confirmation of providing the electronic platform for the dollar

Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the electronic platform for selling the dollar will provide an adequate supply of currency in the markets for the real beneficiary, while he indicated that the adoption of the correct commercial documents by the private banking system will achieve a convergence in the exchange rate and focus on the official price in an accelerated manner. .

Saleh said in a statement to the official agency, followed by (Baghdad Today), that “the monetary policy works through its operational objectives to build coherent mechanisms in imposing stability in the exchange market, through flexible packages in external transfers and through banking channels that follow international compliance rules,” pointing to That “the dollar cash sale platform, which has been in operation since February 20, 2023, will provide an adequate supply of dollars in cash to the real beneficiary with a high degree of international compliance.”

He added, “There has been a complete liberalization of transactions related to the current account of the balance of payments and in accordance with international compliance, whose external transfers were previously faltering due to bureaucratic banking customs, including transfers of services, especially shipping and insurance services, investors’ profits, work returns, and inheritance rights for Iraqis or expatriates outside the country, which were completely liberalized.” “.

He continued, “In addition to a partial liberalization of the financial account in the balance of payments, foremost of which are real estate investments for housing purposes.”

And he pointed out that “with the progress of the mechanisms of the private banking system in adopting the correct commercial documents that are consistent with the rules of financing foreign trade in the matter of compliance, the exchange market will approach each other in price and center around the official price with the passage of time and accelerating,” noting the “positive role that it has taken It is currently performed by government banks in general

And in particular the Trade Bank of Iraq, in promoting external transfer requests for small merchants directly and through international compliance banking whose monthly trades do not exceed $200,000, and whose relative weight dominates in financing foreign trade for the private sector, with rates that may reach 70% of the total. Import trade for the private sector ink


Source: Dinar Recaps


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