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The inclusion of 10 banks in the Kurdistan region in the black list

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The inclusion of 10 banks in the Kurdistan region in the black list Empty The inclusion of 10 banks in the Kurdistan region in the black list

Post by RamblerNash on Thu May 16, 2019 12:19 am

The inclusion of 10 banks in the Kurdistan region in the black list

The inclusion of 10 banks in the Kurdistan region in the black list Story_img_5cdbedf92ea28

01/15/2019 13:46

(Baghdad: Al-Furat News) According to available data, the Central Bank of Iraq included 10 banks in the Kurdistan region on the blacklist, and subjected to censorship, because of its involvement in illegal operations and violating the instructions of the Central Bank.

"Because of the small number of professional traders in the Kurdistan region and the lack of the required banking culture, they deal by paying money directly to the banks, which in turn pay the money to the companies that deal with it," said Sardar Brabal Sarsby, director of Arbil branch of Al-Mansour Bank.

"Most traders in the Kurdistan region buy goods from unreliable sources, insignificant companies that do not count, and these companies do not deal with banks, so the money is transferred to them hand in hand through companies and offices, which facilitates money laundering."

The data available at Sarsby, that ten banks in the Kurdistan region included by the Central Bank of Iraq on the blacklist and subjected to censorship, because of its involvement in illegal transactions and violation of the instructions of the Central Bank, and even fines of one billion dinars imposed on one of these banks, and that " The management of these banks is now conducted by the staff of the Central Bank and prevents their owners from signing the transaction procedure. "

The director general of the Central Bank of Iraq in Erbil, Abed Saleh Mohammed: "All companies and offices of currency exchange in the Kurdistan region is unofficial, under the instructions of the Central Bank of Iraq, does not recognize the holidays granted to it, so it is not entitled to transfer any funds, Signed pledges not to do this type of dealings. "

He added: "We are solving the problem of these offices and companies, to become all official and win approval by the Central Bank, and some may have the right to transfer funds abroad."

"The improvement in the economic situation in the Kurdistan region and the rapprochement between Erbil and Baghdad have stimulated the work of exchange and transfer companies and companies, for example in Erbil alone," says the authorized director of the Iraqi Dinar group, which has branches in most Iraqi cities and in the UAE and Turkey. About $ 25 million a day abroad, and the total funds transferred to the outside of the entire Kurdistan region about $ 40-45 million.

Although the Central Bank of Iraq prevents the exchange of currency in the Kurdistan region of the transfer of funds, most of these companies still carry out these operations, says Rasul: "The political and financial problems between Iraq and the Kurdistan region, led in the past to the Central Bank officially stop the transfer of funds by These companies have declined to renew their work permits, but companies are still working in other ways to meet the market need. "

Rasul pointed out that some of the remittances are carried out through private banks, and the other through offices, but most remittances are conducted through the central bank to benefit from the banks of the countries of the region that have branches in Iraq.

There are 350 offices and 200 currency exchange companies in the city of Arbil. The director of the Kurdistan Exchange Exchange in the city of Erbil, Seyamand Mouloud: "The movement of currency exchange linked to the improvement of economic conditions and the recovery of trade between the Kurdistan Region and countries, traders sell their goods in Iraqi dinars and to import more of them resort to Buy the dollar and transfer it abroad through companies and banks. "

The monetary and monetary policy falls under the powers of the federal government, under the Constitution, so the central bank for the purpose of price adjustment, selling 200-250 million dollars in the auction daily and at a subsidized rate of banks and exchange companies, but exchange companies in the Kurdistan region are deprived of the benefit of this because it is not He was released from Baghdad, according to Siamond Mouloud.

Merchants transfer money abroad to buy goods in two ways, either by paying money directly to the banks that in turn pay the money to the companies they deal with in the intended country, or by way of Elsie, which is the merchant's pledge of a property or other property for a meeting A balance in the National Bank, and when he wants to import goods what the bank supports, but most traders in the Kurdistan region deal in the first way because of lack of the required banking culture.

http://alforatnews.com/modules/news/article.php?storyid=197984
RamblerNash
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