How will foreign trade be financed after the online platform is canceled? The Iraqi Central Bank answers, 20 FEB

How will foreign trade be financed after the online platform is canceled? The Iraqi Central Bank answers

Economy News – Baghdad

The Central Bank of Iraq revealed, on Tuesday, the mechanism of financing foreign trade after the cancellation of the electronic platform and the currency auction that the Central Bank intends to implement soon.

Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in an interview followed by “Economy News”, that “the Central Bank of Iraq is heading to cancel the work of the electronic platform.”

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

Khalaf indicated that the American correspondent banks will take care of financing the requests of these banks among them after reviewing the special documents, and the non-entry of the Central Bank of Iraq as a party to this issue

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