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

by **Ponee** Sat Apr 22, 2017 2:49 pm

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

[Oan- Baghdad]
denied the Central Bank of Iraq, there is no discrimination between foreign and Iraqi banks in the sale of currency to enter the window [auction process].

The Information Office of the bank manager, Acer Jabbar received by all of Iraq [where] a copy of it, "foreign banks operating in Iraq branches represent the bank president with all their resources , including capital and claim the Central Bank of Iraq to these branches need to provide [seventy billion dinars] What It is the only operational capital and does not represent the entire share capital of the bank. "
"As the entry of the sale of foreign currency window for banks operating in Iraq in general be approved by the Central Bank of Iraq standards and accounting firms of international solid and are available for all banks to see them and thus when they exceed some branches of foreign banks , these criteria are excluded from entering the window either when matching the criteria as is the case with all Iraqi banks will get the maturity. "

Jabbar denied "the existence of discrimination to deal for the Central Bank of Iraq between banks operating in Iraq , whether foreign or Iraqi , but on the basis of classification because they are part of the Iraqi banking system."

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

http://www.alliraqnews.com/modules/news/article.php?storyid=60980