Al-Nada 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: A ban lifted by the Central Bank (May 2015)
What is on record
- 17 May 2015Ban liftedTier A
After court decisions (Higher Judicial Council / Baghdad Court of Appeal presidency) lifted the attachment (seizure) placed on the two companies, the CBI board approved resuming their activity, subject to raising capital to the required IQD 45 billion.
شركة الندى للتحويل المالي · circular 161/2/9 (follows letter 280/3/9 of 2014-09-30); Board session 1524 of 2015-05-02
Document, p.1
Year by year
| Year | Purchases | Cash dollars bought | Estimated margin |
|---|---|---|---|
| 2015 | 52 | $71 million | $1.7 million |
| 2016 | 206 | $100.7 million | $6.2 million |
| 2017 | 24 | $14.5 million | $1 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.