Saturday, March 9, 2013
NEW TREASURY REGULATIONS
Please note new regulations on exchanging Iraqi Dinar:
1. Ledger to Ledger transfers / Internal transfers will not be allowed due to US Treasury Department restrictions.
2. Per US Treasury Department directives, wires can only be sent to the individual exchanging the dinar and the account must be in that person’s name.
3. Per US Treasury Department directives, wires can only be sent internationally if the individual making the exchange is a citizen of that country and the account is in the customer’s name.
4. Exchanges to trusts must be initiated by the beneficiary of the trust.
5. Per US Treasury Department directives, dinar exchanges must convert to US dollars in the customer’s name prior to any purchase of precious metals or other commodities.
Posted by John MacHaffie at 7:24 AM