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McDan: (Reminder) FINAL ARTICLE #124

Issuing a package of decisions related to the entry and exit of funds across the Iraqi borders
28th August, 2019

Ali Mohsen Ismail, chairman of the Council for Combating Money Laundering and Terrorism Financing, has issued a series of decisions concerning the controls on the declaration of funds when they are brought in and taken out across the Iraqi border

Among the new decisions, customs authorities may be allowed to search people and inspect their luggage to verify the authenticity of the information

As for the amounts allowed in or out of the territory of the Republic of Iraq, amounts below (10) thousand US dollars or the equivalent of other currencies are allowed to enter without authorization

Amounts exceeding (10) thousand US dollars to (20) thousand US Dollars are required to be declared with the need to show supporting the purpose of the introduction or removal of these amounts

It is required that the process of inserting and removing funds through financial institutions exclusively if the amount exceeds (20) thousand US dollars

One of the decisions stipulates that the entry and exit of amounts exceeding (1,000,000) (one million Iraqi dinars) is prohibited even if they have been declared, and the amount is withheld and legal proceedings are taken  LINK


John:  I just noticed that the IQD is now a tradable currency at this satilite location. i personally went to the exchange window and asked the teller if they exchange the iqd, his answer was yes! The rate hasn’t changed yet but it’s still a good sign to see them now handling the IQD. 6 months ago the teller told me they dont handle exotic currencies.


Samson:  China excludes 16 kinds of American goods from additional fees
11th September, 2019

China moved on Wednesday to exempt 16 kinds of US products from additional retaliatory tariffs, including animal feed and some lubricants, a Finance Ministry statement said

The exemption is valid from 17 September for a year until 16 September 2020

The ministry said the goods on my list of customs exemptions posted on its website would not be subject to the surcharge imposed by China on US goods     LINK

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