INA discusses 4 files with CBI, including the money exchange window

 
Baghdad-INA
 
The Central Bank of Iraq-CBI confirmed on Saturday, that all the financial transfers are monitored from the electronic platform while indicating that opening a money exchange window to citizens violates international controls and norms.
 
The assistant director general of the investment department in CBI , Muhammad Yunus, told the Iraqi News Agency (INA): "All financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform, and the cash sale platform (f i t r)."
 
He added, "These operations come within the international standards for combating money laundering and terrorist financing, and are compatible with all international norms and laws, affirming that “The reputation of Iraq, the Central Bank and financial institutions will not be prejudiced in the event of any imbalance in such transfers. "
Concerning the daily conversion rate of foreign currencies, Yunus confirmed that "The bank publishes on a daily basis its cash sales and transfers, which currently range from 100 to 150 million dollars, in addition to cash sales,” expecting an increase in transfers during the coming days.
Regarding the possibility of a return of the dollar exchange rate to its previous rate, Yunus pointed out that "the parallel rate has been gradually falling on a daily basis over the past days", pointing out that "the central bank is working hard to solve all the problems experienced by banks and traders in the process the financial transfer ".
 
Yunus explained that "the dollar cannot be available to any citizen, given that it is not a national currency for Iraq," noting that "the dollar must be allocated for dealing outside Iraq for the purposes of financing trade, travel, treatment and study."
 
He continued, "Opening a window to sell dollars to citizens violates all international regulations and norms."