Al-Kazemi’s advisor: The new Central Bank’s instructions regarding the sale of the dollar came to combat money laundering
Shafaq News / The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed on Thursday that the new instructions of the Central Bank regarding the sale of foreign currency come within the framework of combating money laundering.
Saleh said in an interview with Shafak News Agency; “The new instructions of the Central Bank regarding the sale of foreign currency come within the framework of combating money laundering, by increasing the procedures for checking and disposing of foreign currency,” noting that “there is a lot of talk being said about the currency auction and the money that comes out of it.”
Saleh added that “the Central Bank is keen on the foreign currency to go to the beneficiary that benefits the Iraqi economy through high governance and transparency, which is a global international context, not just Iraqi,” noting that “not to fear these instructions as long as the transactions are sound and clean.”
And he indicated that “the existing foreign currency in terms of reserves is high and large, and there is no problem in meeting the demand through the auction,” noting that “these procedures in checking the currency’s disposal is a measure to address illegal operations and is part of national security.”
Saleh stressed that “there is no fear of the Central Bank’s measures as long as this currency is going in the right way,” noting that “the prior fear of that is unnecessary as long as the transactions presented for the purpose of buying the currency are clean.”
A number of exchange offices expressed their fear of a rise in the dollar exchange rate after the new strict instructions of the Central Bank to sell foreign currency through its daily auction, which will be implemented on the 17th of October.
It is noteworthy that the Central Bank issued on September 26, new instructions for the sale and purchase of foreign currency for authorized banks and mediation companies, which will be applied as of October 17, indicating that the goal behind this is to maintain the stability of currency exchange rates and adhere to the requirements of the Anti-Money Laundering and Terrorist Financing Law.