Across Continents (Abr Al-Qarrat) for Money Transfer
A money-transfer company that bought cash dollars directly from the Central Bank of Iraq at the official price from 2015 to 2017, according to the Bank's daily bulletins. This page shows what it bought, the estimated margin on it, what is on record against it, and the document behind each figure.
On record: Licence withdrawn by the Central Bank (April 2014)
What is on record
- 20 April 2014Licence withdrawnTier A
Repeated violations, including of Art. 62 of the CBI Law and Art. 56 of the Banking Law; money-transfer licence cancelled.
شركة عبر القارات للتحويل المالي · letter 118/2/9; Board session 1511 of 2014-04-20
Document, p.1
Year by year
| Year | Purchases | Cash dollars bought | Estimated margin |
|---|---|---|---|
| 2015 | 4 | $0.6 million | $0 million |
| 2016 | 167 | $65.6 million | $4.7 million |
| 2017 | 124 | $102.5 million | $5.5 million |
The margin is the difference between what these dollars were worth at the market price on the day they were bought and what was paid for them at the official price. It went to the company, to its customers or to both, and it is not a finding that the company made that profit.