Central Bank: No distinction between foreign banks and Iraqi currency auction

21/04/2017 12:46 | Number of readings:

Trend Press / Baghdad

The Central Bank of Iraq denied the existence of a distinction between foreign and Iraqi banks in entering the window selling the currency "auction process".

The director of the information office of the bank, Acer Jabbar got "Trend Press" a copy of it, "The branches of foreign banks operating in Iraq represents the main bank with all its capabilities, including capital and the Iraqi Central Bank's demand for those branches need to provide" seventy billion dinars "What is Except operating capital and does not represent the entire capital of the Bank. "

He added: "The entry into the window of selling foreign currency for banks operating in Iraq in general is on the criteria approved by the Central Bank of Iraq and international accounting companies are solid and available to all banks to see and therefore when some branches of foreign banks exceed these standards are excluded from entering the window either When matching the standards as is the case with all Iraqi banks will get their entitlement. "

Jabbar denied "the existence of discrimination in dealing with the Central Bank of Iraq between banks operating in Iraq, whether foreign or Iraqi only on the basis of classification because they form part of the banking system of Iraq."

He pointed out that "a number of Arab and foreign banks do not enter the window selling foreign currency in the first or intervention in limited quantities and the share of Iraqi banks still represent the largest proportion of sales of the dollar.