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KTFA
Clare » January 2nd, 2025
Instructions and standards for the circulation and exchange of banknotes and the mechanisms for counting and sorting
December 29, 2024
In continuation of our circular No. (34/4/9) dated 1/15/2024, regarding the unification and updating of controls and instructions for the standards for the circulation and replacement of banknotes, we attach the principles, standards and instructions that will be adopted in the counting, sorting, receipt and delivery of banknotes operations . For more , click here.
Foreign remittance service
January 02, 2025
We would like to inform all licensed banks and all licensed non-banking financial institutions that Global Odeme Hizmetleri is allowed to provide foreign remittance services within a credit agreement concluded with this bank in addition to Western Union and MoneyGram . For more information, click here . LINK
Al-Saadi: Closing the dollar selling platform will not affect its prices
1/2/2025 Information / Anbar..
Economic expert Rashid Al-Saadi confirmed today, Thursday, that stopping the work of the electronic platform for selling the dollar does not affect the rise in the price of the US currency, noting that the decision came as a result of pressure from the US Federal Reserve and internal parties.
Al-Saadi said in a statement to the Al-Maalouma Agency, “The platform was a form of control imposed by the US Federal Reserve, and its cancellation allows Iraq to return to the banking system that was in effect before 2003, where the merchant relied on the correspondent bank without the need for this system imposed by America.”
He added that “the Central Bank of Iraq has started a plan to deal with a basket of foreign currencies to compensate for the dollar and open up to foreign banks, with the aim of reducing dependence on the US dollar,” stressing that “closing the platform did not significantly affect the rise in the dollar price as some media outlets promoted.”
He pointed out that “the Central Bank allowed 36 banks to deal with other foreign currencies, including those covered by US sanctions, to mitigate the damage caused by reliance on the dollar.” LINK
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Source: Dinar Recaps
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