CBI introduced a way to follow up the disbursement of funds abroad and prevent smuggl
CBI introduced a way to follow up the disbursement of funds abroad and prevent smuggling : Date: Thursday, 05-07-2012 10: 47 am
Baghdad (News) … Deputy Central Bank Governor Mohammad Saleh appearance, granting banks licensed to sell hard currency is responsible for auditing foreign currency transferred abroad for travel or treatment or trade, to reduce smuggling hard currency.
He said Saleh (News Agency news) on Thursday that the Central Bank cannot control all the money out of the country, has developed a way to track how funds abroad by giving banks approved to sell hard currency through the audit function and divide by scoring banks capital.
Said: banks are divided into four forms, depending on their capital to compete among themselves and see how much currency pumped to a week of Central Bank, each bank to sell a limited amount of currencies, which is capital of more than (150) billion dinars, and banks with capital (150) billion dinars, the other without (150) billion dinars, as well as Arabic and foreign banks, each of which commit the merchant or Bank traveller to open adoption, or convert a document in Bank clients with him to transfer money Him abroad.
It was: as well as require customers two weeks after the conversion brought a special foreign bank revealed that the currency has been converted to a certain specified documentary in the transform file for the Bank’s knowledge of its currency abroad and to curb smuggling of currency or money laundering.
The Central Bank granted permission for (25) private banks to sell the dollar price determined in accordance with the process under certain conditions and controls, and gives to every bank weekly million and 250 thousand dollars, and the price to sell the dollar by central banks (1179), while it sells to the citizens at a price (1189) on the profit ratio for banks (10)