MAJEED
This is today article from 2 HOURS ago
The matter is resolved.. Iraq will NOT offer today its precious dollars in the controversial dollar auction,
or what is called the window of selling foreign currency and the electronic platform. 20 years after the start of this measure, Ammar Khalaf, deputy governor of the Central Bank, confirmed in a statement to the network 964 that the dollar platform has become by closing in compliance with the date set by the governor to close it at the end of 2024, and denied behind all rumors about the possibility of extending the work on the platform
, and spoke with great positives, reassuring the market and consumers that the overwhelming majority of traders have already adapted to the new system in which the Central Bank does not provide direct dollar to traders, but what will happen?!
According to the new system after the closure of the window, traders will have to deposit their money in dinars in Iraqi banks that have entered into partnerships with foreign banks “called correspondent banks” and these correspondent banks with American banks are responsible for all verifications and compliance procedures.
The central bank will only be tasked with enhancing dollar balances in the accounts of banks that can pass through all these procedures. Many experts believe that this step removed the central bank from responsibility for any possible invoicing or attempts to smuggle currency, and the central bank has protected itself from any possible US sanctions with the dangerous dimensions it means on the country's economy
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