Official source: Importing the dollar is legal according to effective instructions, 11 NOV
2023-11-10 11:08
Official source - Importing the dollar is legal according to effective instructionsShafaq News/ On Thursday, an official source refuted the allegations that there was no legal basis for the process of importing foreign currency by Iraqi banks.
The source told Shafaq News Agency: The decision of the State Shura Council (No. 2/2011) dated 1/10/2011, which says (there is no legal basis for importing currency) is correct. However, the Central Bank of Iraq issued its instructions in July 2011 and published them in the Iraqi Gazette, pointing out that every instruction published in the Iraqi Gazette is considered… A valid legal document.
Wednesday; The Central Bank of Iraq decided to allow Iraqi banks to import foreign currency according to 5 conditions.
It was stated in a letter sent by the Central Bank of Iraq to the licensed banks and obtained by Shafaq News Agency, “Based on the requests received to the bank, and in order to provide the required flexibility for banks operating in Iraq, it was decided to allow you to import foreign currency from outside Iraq while adhering to the following: –
1- The amounts shall be used for the purposes of meeting the requests of your customers from duly registered companies, organizations and bodies, and individuals working for foreign companies or institutions who receive remittances from outside Iraq.
2- Submit a request to the Central Bank of Iraq (Banking Control Department) that includes the quantity required to be entered along with the details of the shipment.
3- Payments must be entered exclusively through air ports.
4- Your commitment to register the serial numbers of these shipments and provide the Banking Control Department with them and the data of their recipients later.
5- Providing the Central Bank with the name of the foreign shipping company along with a copy of the license granted to it in its country.
The Central Bank of Iraq confirmed its continued provision of foreign currency to meet customer requirements and in accordance with instructions and controls in this regard.
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