Saturday, October 26, 2024
Integrity hints at the “dominance” of foreign banks on the currency sale window and moves to limit their powers, 26 OCT
Shafaq News / A member of the Parliamentary Integrity Committee, Vian Dakhli, hinted on Thursday at the “dominance” of branches of foreign banks on the window of buying and buying foreign currency in the Central Bank of Iraq.
“The committee is currently discussing the issue of fiscal and monetary policy in the Central Bank, especially after information indicating the dominance of some branches of foreign banks and Iraqi banks over the Iraqi monetary market and the window for buying and selling foreign currency,” Dakhil told Shafaq News.
She explained that “the Parliamentary Integrity Committee is working on legislating a law limiting the validity of foreign banks, their branches and Iraqi banks with foreign capital,” noting that “this limits the lorrous profits obtained by those banks from Iraq.”
An intronsider pointed out that “there are some foreign banks and foreign capital that acquire money transfers in Iraq, and unfortunately all Iraqi money goes to another country.”
Iraqi experts warn of a “currency leak” out of Iraq due to “corruption” in the country’s currency auction.
TIDBIT FROM WALKINGSTICK, 26 OCT
Walkingstick
Sudani is slowly allowing banks to be relicensed again but he's bringing in these currency exchange centers as well.
When he relicenses a bank, he will have full control of that bank.
When he brings in these money exchange centers/banks he will have full control of them also. Sudani and the CBI watch every process of the monetary reform...
They will be giving a percentage to these centers and banks of the volume they will be bringing in. It is a symbiotic relationship where they will both benefit...
Establishment of the “Iraqi Money Changers Syndicate” in Baghdad.. and Al-Taie as its President, 26 OCT
Establishment of the “Iraqi Money Changers Syndicate” in Baghdad.. and Al-Taie as its President
In a move that is the first of its kind in Iraq, the establishment of the “Iraqi Money Changers Syndicate” was announced today, Wednesday, and the election of Diaa Al-Taie as its president, to lift the injustice against the owners of money exchange offices and companies and secure their rights.
The “Jarida” platform attended the founding conference of the union at the “Mansour Melia” Hotel in central Baghdad, which was held by a group of owners of exchange offices and financial companies, and attended by a number of parliamentarians, including the head of the Parliament’s Investment Committee, Hassan Al-Khafaji, and a member of the Finance Committee, Hussein Mounes, in addition to businessmen.
The election of Diaa Al-Taie as the head of the Iraqi Money Changers Syndicate took place in a clear and fair manner in front of those present, in a step that is the first of its kind to bring together most of the companies and money changers in a syndicate to present ideas, communicate with each other, and crystallize their positions with the Iraqi government.
This is what Al-Taie emphasized, that the establishment step had been under study for some time, and today this idea has matured and crystallized with the establishment of the “Iraqi Money Changers Syndicate.”
The attending representatives, most notably Hassan Al-Khafaji and Hussein Mounes, supported the idea of establishing it in a speech they delivered during the conference, indicating that the parliamentary committees support this legal regulatory path, stressing that this step is important for direct communication through legal paths with the Central Bank of Iraq, Iraqi banks, and those concerned from exchange companies to deal with each other regarding the local market.
The representatives promised to communicate and support this idea, which will open broad horizons between the Iraqi government and the private sector, which includes exchange companies represented by the “Iraqi Exchange Union.” link
TIDBITS FROM MNT GOAT, 26 OCT
Mnt Goat
Article: "I WANT TO SPREAD AWARENESS ABOUT ELECTRONIC PAYMENT? READY TO USE IT?”
...we can interpret these electronic debit cards as yet another move by Iraq to open up to the rest of the world...yet another move out of the sanctioned - mode that Iraq has been in just occurred.
Thus they are joining the world stage again but bigger and better this time...
Article: "I WANT TO SPREAD AWARENESS ABOUT ELECTRONIC PAYMENT? READY TO USE IT ?”
...we read from this article that ONLY now are the banks finally issuing these debit cards that can be used globally, such as in the U.S...
Yes, they are finally being released...
Yes, it is time for them now...the rate is determined at the bank, when the transaction goes through at the bank when the card is used...NO rate on the card...The rate is controlled by the currency exchange or the CBI (official rate) whichever one they are linked to.
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...