On Wednesday, Rasheed Bank announced that the launching of imports identifies individuals and companies dealing in foreign currency service. The General Director of Rasheed Bank Abdel Wahab Abdul said in his press statement that this major step has been taken to provide support for our economy by managing the commercial activities of the traders. The Rasheed bank is looking to pay the value of imported goods from foreign countries and their currencies.
Rasheed bank’s General Director Abdel Wahab further added that the importer can enhance their request through Rasheed bank or money transfer companies that are approved by the Iraqi Central Bank. Point to be noted that the Rasheed bank announced earlier about the completion of their procedures in order to sale of the U.S dollar for visitors and travelers through their branch at the Baghdad International Airport. There are more than 40 branches in Baghdad but only Rasheed bank’s branch at the Baghdad International Airport is dealing these activities. There are many other banks and banking companies that are using the same mechanisms adopted by the Rasheed bank. most of the experts say that this step will allow Iraq to empower its banking system and its economy.