Tuesday, February 20, 2024

After canceling the electronic platform…the Central Bank reveals the mechanism for financing foreign trade, 21 FEB

After canceling the electronic platform…the Central Bank reveals the mechanism for financing foreign trade

Al-Sumaria News – Economy
The Central Bank of Iraq revealed, today, Tuesday, the mechanism for financing foreign trade after canceling the electronic platform and the currency auction, which the Central Bank intends to implement soon.
The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview with Al-Sumaria, “The Central Bank of Iraq is heading to cancel the work of the electronic platform and the currency auction soon.”

He explained that “the banks will be responsible for financing foreign trade directly through the dollars they own, and they will be fully responsible.” About auditing invoices and transfers, which is the practice globally.”

With this step, the Central Bank of Iraq intends to “withdraw itself” from the process of financing foreign trade and make the process limited to banks inside Iraq, and to American correspondent banks, which will undertake to finance the requests of these banks among themselves after reviewing the private documents, and for the Central Bank of Iraq not to enter as a party in this matter. the case.

alsumaria.tv

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