Download the Central Bank of Iraq, Sunday, bank management responsibility for damaged currency trading in the markets, warning of fines for non-cooperative banks amounting to stop, as he emphasized that what is being replaced by currency damaged in the bank does not exceed 30% of the actual damaged.
The adviser said the Iraqi Central Bank Governor appearance of Mohammed in an interview for “Alsumaria News”, “the failure and mismanagement of some banks, especially the big ones are often re-currency damaged to citizens without converting them to the Iraqi Central Bank to replace them,” noting that “the cooperation of banks with Central Bank in this area is weak in spite of the numerous correspondence addressed to the bank to
the government and private banks to replace damaged currency. “
Saleh added that “the duties and work of the Central Bank of Iraq since 1947, which is the monetary authority for the issuance of the interface sovereign and under the law replace the money bad,” warning “by the imposition of fines of up to stop the work of banks that do not cooperate in this area,” he says.
The benefit of that “nearly 90% of the currency be in the hands of citizens, not the banks, only 10% of them,” pointing out that “what is being replaced by currency damaged by the Central Bank is currently only 30% of the currency damaged the actual on the market.”
The Advisor to the Governor of the Central Bank that “the Bank is working to replace damaged currency through its existing inventories or by printing a new currency,” pointing out that “the damaged currency are burned after downloading it from the version number of the cash.”
Regulated by the central bank meetings auction day, except Fridays and official holidays, and with the participation of Iraqi banks, and within which the sale and purchase of foreign currencies, the Central Bank of the process of converting currencies sold abroad, for some companies and citizens for a certain commission.