CBI: We will not retreat from the application of our instructions, even if stopped selling foreign currency

14/02/2012 12:12

Baghdad, February 14 (Rn) - The Central Bank of Iraq, Tuesday, he did not back down from the application of the new instructions issued by the private and the sale of the difficult process of the Iraqi market, even if it was stopped daily auction, while stressing that the procedures imposed by the came on the back orders are not natural.

The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) that "the Central Bank of Iraq sells foreign currency to the Iraqis only and sales are not intended for non-Iraqis," asserting that "the Central Bank of Iraq will not back down from the application of procedures for the recent sale of foreign currency even if the Bidder daily stop. "

He said Deputy Central Bank of Iraq that "Iraq Yun current account of balance of payments and this commitment to the agreement of the IMF Article VIII, but at the same time editing the account does not mean the market but there are loose controls called market discipline being applied."

"We scrutinize the money of people who deal with the central bank under the law of money laundering and money, crime and terrorism, this law issued in 2003, (...) the market was stable, with sales of between 150-160 million dollars, but we noticed during the past three months, started applications increasing every day, so Iraqi market does not accommodate such requests for goods and services, and arrived in a few days to $ 450 million a phenomenon that is natural and so we did not NLP applications. "

And that "the Central Bank and after checking the requests found that most of the names of strange and incomplete requests for papers to reject the fundamentalist co-operation of those requests and respond to requests that do not blemish it." He said.

And saw the price of the dollar compared to a rise in local currency during the past few days, which officials attributed to a local banking companies, the central bank to stop sales of hard currency.

And picked up local media for widening the sale of hard currency to Iranian businessmen at border crossings, especially in the province of Maysan, unless confirmed by the Central Bank of Iraq.

Link