Posts Tagged ‘Iraqi Central Bank’

12/26/2013

Still citizens waiting to start implementing the project to delete the zeros of the Iraqi dinar for several reasons, perhaps the most important of which is the security aspect in the interaction between individuals, as many traders dealing in dollars for the lack of size of the money supply, compared to the Iraqi currency. (more…)

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05-12-2013 10:00 AM

Baghdad (news) .. Said economic expert Dargham Muhammad Ali, to the present time appropriate for the application of the project to delete the three zeroes from the Iraqi currency, the fact that the exchange rate of the dinar relatively stable during the current period. (more…)

Editor: NF, RS 12.03.2013 17:41

Criticized a number of owners of companies banking financial, Tuesday, crackdown that followed the central bank and the routine which controls procedures, and argued that they can not approach the office of any employee to ask about the fate of their transactions, and while stressed that the CBI lacks regulations in its dealings, pointed out that what puts the bank of instructions and controls “and the harsh injustice.” (more…)

– NOVEMBER 28, 2013
BAGHDAD – Eastern November 28: The governor of the Iraqi Central Bank acting Abdel Basset Turki he did not commit any violation of the law assuming the agency’s central bank in addition to his duties as president of the Board of Supreme Audit. (more…)

Central Bank denies smuggling 800 million dollars a week to the Swiss bank confirms: This information is source-Hashemi

27/11/2013 12:34
He denied the Iraqi Central Bank, on Wednesday, the existence of smuggling weekly from inside Iraq to the Swiss banks, and confirmed that the statements Relations Committee Chairman European with Iraq on this subject “baseless and taken from the former Vice-President and sentenced to death Tareq al-Hashemi.” (more…)

Central bank: zeros from the currency will not raise the lack of “appropriate circumstance”

Called on the Central Bank of Iraq, on Sunday, to “revisit” the laws of the banks and the Central Bank and the fight against money laundering, and attributed the cause to “address the problematic lack of challenge of the activity of banks and the World Bank in the management of the economy”, and pointed out that the zeros “will not lift from the Iraqi currency now for not suitable circumstance. “

The central bank governor said Abdel Basset Turki said in an interview for a number of media, on the sidelines of a workshop on the proposals to amend the Banking Act and the law of the Iraqi Central Bank and Amla, hosted by the bank in the Palestine Hotel in central Baghdad, said that “the importance of this workshop, which is held for the first time , is to review the laws written in exceptional circumstances and in an exceptional manner for nearly ten years and there are a number of comments made by the banks, “hoping that” all deficiencies are addressed. “

The Turkish that “country always needs to be new legislation and we have to think about legislation lasts for a long time to pay for greater stability and meet the requirements of development,” stressing the need to “rethink the laws of the three not only the laws of the banks, but Bank Law also the law against money laundering,” explaining that “The importance of the problematic address all deficiencies that limit the activity of banks and at the same time its developmental role in addition to the Central Bank’s role in the management of the economy.”

The central bank governor [said] that “the lifting of zeros from the Iraqi currency until now not on the cards because the envelope is not suitable justifications and still continue not to delete the list,” adding, “But when the central bank will decide to announce this matter.”

He continued Turkish “We have decided to exclude banks that have not a capital of 250 billion dinars, the central bank auction,” pointing out that “some banks embarked invite the General Assembly to raise its capital.”

Turki added that “the number of those banks does not exceed 5 banks and these exclusions are not immediate and final decisions,” asserting that “some banks made a pledge to raise its capital to 400 billion.” The CBI said on Sunday, seeking to amend the banking laws, including the proportional and the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that go to play the developmental role of the Iraqi economy. The Iraqi Central Bank revealed, on Sunday, the arrival of the foreign currency reserves of more than 88 billion dollars, indicating that it contributes to the stability of the dinar could be a “source of pride” for the Iraqis.

The Iraqi Central Bank revealed, earlier, his intention version Coins categories of small, indicating that those currencies, which may be issued sometime in the next year, will be written in Arabic and Kurdish, confirming the existence of a proposal for the issuance of Banknotes large value of fifty thousand dinars .

It is noteworthy that the Iraqi Central Bank was established as a bank independent under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies. Finished / 3
Updated: 25/11/2013 16:00

bit.ly/1i9rEWR

11/24/2013 17:00

Called on the Central Bank of Iraq, on Sunday, to “revisit” the laws of the banks and the Central Bank and the fight against money laundering, and attributed the cause to “address the problematic lack of challenge of the activity of banks and the Bank in the management of the economy,” and pointed out that the zeros “will not raise for the Iraqi currency now for not suitable circumstance. ” (more…)

11/24/2013 11:40

The Central Bank of Iraq, on Sunday, seeking to amend the banking laws, including the proportion to the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that going to play a developmental role of the Iraqi economy. (more…)

13/11/01
Iraqi Central Bank, said Sunday that the timing of the restructuring of the currency and delete zeros which does not arise in the present.

The Bank said Payne received “tomorrow”, “the timing of the restructuring of the Iraqi currency and delete zeros does not arise, because such a project through coordination with the Iraqi Government and related institutions,” dismissing “the draft restructuring of the currency next year and delete the three zeros.” (more…)

09/11/2013 14:43
Tomorrow Press / BAGHDAD: Iraqi Central Bank, on Saturday, has signed a contract with bpc British company to set up and update the retail payment systems and the development of the infrastructure of the Iraqi banking system.

The governor of the Central Bank and Abdul Basit Turki agency’s “Tomorrow’s Press,” that “the contract includes the implementation of a project payment and introduced in the retail banking business in the Iraqi public and private sector.”
(more…)

Central Bank’s decision to stop dealing with “Western Younine” cause upheaval in the currency market

BAGHDAD – Iraq Press – November 6 / November: Stop the Iraqi Central Bank to deal with the company “Western Younine” It is a global company through which they can transfer money to all over the world, and is working to provide commercial services safe and fast way to convert cash and owns about 270 thousand agent worldwide in more than 200 countries and the headquarters of several, and the size of the company’s revenues nearly $ 3 billion annually. (more…)

03/11/2013 17:52
Tomorrow Press / Baghdad: The member of the parliamentary Finance Committee Hassan al-Bayati, Sunday, the Iraqi Central Bank to maintain the value of the dinar against foreign currency, considering that this is of the duties of the bank.

Bayati said for “tomorrow’s Press,” “The duties of the Iraqi Central Bank to maintain a balance of the Iraqi currency with foreign currency global for the protection of the citizen and the state for inflation in the currency,” calling on the Bank to “develop a mechanism to balance the process of local with global currencies in Iraq” . (more…)

09/19/2013
stressed the Iraqi Central Bank, on Thursday, the need to use modern technologies in Iraqi banks, indicating that these technologies will be the main base for work in banks.

bank governor said Abdul Basit Turki said in a statement released today, on the sidelines of a meeting with the post affaires new The Japanese Embassy in Baghdad Kanwski ناغاوكا, and received “Alsumaria News”, a copy of it on “The banking sector must be developed with the use of modern technologies in the work of Iraqi banks.” (more…)

12 Sep 2013
On this Monday, the Iraqi Central Bank (CBI) has taken some measures to revitalize the 19 foreign banks operating in Iraq. This action is supposed to rejuvenate the overall banking sector of the country. Also, it has to be noted that this will encourage the emerging foreign banks in Iraq in near future.

Bank Governor Abdel Basset Turki stated that the banking sector of the country requires more attention in order to increase the chances or hopes for foreign investments. The bank is keen to deal with the foreign companies or banking corporate. However, he also mentioned that CBI is not losing focus from the state-regulated banks and it is important that these state-regulated banking sector should do well in present scenario so that overall banking sector’s can be lifted up for clinching the trust of the common masses of the country. (more…)

25 Aug 2013
The parliamentary economic committee has described the effort of the Iraqi Central Bank for maintaining the value of Iraqi dinar as ‘failed’. It has to be noted that recently the Central bank of Iraq has promised the nation that the organization will take care of the Iraqi dinar and will take significant steps to make it stable so that sustainable economic ambience prevail throughout the nation.

Mahma Khalil stated, “The central bank demands to maintain the exchange rate of the Iraqi dinar, and determine a fixed price against the foreign currencies, as it is unreasonable that there is a balance of a sovereign Iraqi exceed seventy billion dollars, and it remains the Iraqi dinar rate over 1200mm dinars to the dollar, and sometimes brings about this price on the black market. “ (more…)

Baghdad-Iraq-12 August: the CBI acknowledged the existence of counterfeit banknotes in the commercial market, and the banks are all uncles take necessary. (more…)

Iraqi Central Bank announces the continuation of currency auction on Thursday

Central Bank of Iraq, Wednesday, for the continuation of the bank auction for the sale of foreign currency on Thursday has nothing to do with the holiday granted by the Council of Ministers of the government departments and institutions. (more…)

Banking sources: expectations down the dinar against the dollar in the coming days

Parliamentary sources confirmed the economic, Tuesday, that the price of the Iraqi dinar will rise against the dollar’s decline in the coming days in the light of the steps taken by the Central Bank of Iraq. (more…)

International Monetary Fund

recommended report issued by the International Monetary Fund for Iraq pace of structural reform to boost growth and job creation in the private sector, and the need to continue the good governance of foreign reserves at the Central Bank of Iraq and the Development Fund for Iraq.

The report recommended that display the Resident Representative of the International Monetary Fund for Iraq Ghazi الشبيكات during a press conference held at the Iraqi Business Council in Amman to “accelerate the pace of structural reform to boost growth and job creation in the private sector and the intensification of work for the Liberation of the foreign exchange market and the creation of a stable exchange rate and simplify the instructions of foreign currency . ” (more…)

10-07-2013 05:29 AM

Baghdad (newsletter). Banking expert and Director of the Association of private banks a. Finch, that Iraq is free from money-laundering operations, to financial abundance by a foreign country.

In a statement, “said Hassoun (News Agency): according to the information available, the indicators set for money laundering control in Iraq, operation, stating: the prevention and control of money-laundering in the Iraqi Central Bank, did not indicate the existence of money laundering. (more…)

08/07/2013 12:00 AM

said banking expert Wadih Alhantal the importance of working on the development of the banking sector and access its services to the global products that must be provided to the public beneficiaries, pointing out that the ways of development of the financial sector has become more affordable than before after the entry into force of the country from the provisions of Chapter VII.
(more…)

Screen Shot 2012-09-26 at 7.46.35 AM2 translations

Financial: dinar improvement after Iraq emerge from Chapter 7

05/07/2013

Banks began international circulation of Iraqi currency in the first signs of the withdrawal of Iraq from Chapter VII, in conjunction with the announcement of the Iraqi Central Bank high volume of reserves of Iraq from foreign currency to $ 76 billion in addition to the 30 tons of gold bullion.

says advisor to the Ministry of Finance Hilal Taan that “This reserve will help to raise the value of the Iraqi currency compared to foreign currencies and thus will contribute to reduce the prices of goods and commodities.”

and supports the currency reserves in the Central Bank of the Iraqi currency inside and outside Iraq, and that the increase in oil imports may directly contribute to increase the reserve and thus give more support of the Iraqi currency.

says economic expert Majid picture that “investing the surplus reserve as if he found must harnesses according to the policy of economic thought” and called on the House of Representatives to enact economic and development that will provide greater support for the Iraqi currency.

For his part, criticized a member of the Finance Committee parliamentary Ahmed electrodes laws and banking systems followed in Iraq, uncertain that the House of Representatives is determined to enact laws regulating the banking business in the future.

central bank had said earlier that Iraq is in control of his money and treasury of gold in the international banks also drew the bank to be out of Iraq from Chapter VII will give him freedom the largest to act and attract foreign investment.

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Financial: improved after Iraq Dinar from Chapter 7

05.07.2013

International banks began trading at the first signs of Iraqi currency to exit Iraq from Chapter VII, in conjunction with the Declaration of the Iraqi Central Bank, the high volume of foreign exchange reserves in Iraq to 76 billion dollars in addition to 30 tons of gold bullion.

And says Treasury Adviser Helal altaian “this reserve will help raise the value of the Iraqi currency, compared with foreign exchange and thus contribute to the reduction of prices of goods and commodities.”

And supports the Central Bank’s currency reserves, the Iraqi currency into and out of Iraq, and increased oil imports might contribute directly to increasing the reserve and give more support to the Iraqi currency.

Economist Mohammed Souri “the investment of surplus reserve if found to be used as a deliberate economic policy”, calling on the House to enact economic and development that will provide greater support to the Iraqi currency.

He criticized the parliamentary Financial Committee member Ahmed tracks laws and banking regulations followed in Iraq, confirmed that the House was determined to enact laws regulating banking in the future.

The Central Bank said earlier that Iraq controlling its money and gold in the Bank also drew global banks to exit Iraq from Chapter VII would allow him greater freedom to act and attract foreign investment.

http://www.iraqhurr.org/content/article/25037867.html

Saturday, June 22 / June 2013 07:15 | |

A number of citizens expressed their resentment and complained of mistreatment by private banks them, especially the Bank of Dar es Salaam Investment, مبينين that these banks turned out to be (shops) for the sale of securities to speculators from small traders. Citizens said that large queues of speculators and black market traders stand at the doors of these banks to get large amounts of hard currency at the government through price of passports in order to sell them in the local market to make profits because of the large difference in the discharge process. (more…)

20-06-2013 11:00 AM

Initiated most of the Iraqi private banks cut dollar exchange rates of 1189 dinars to 1183 dinars to the citizens and the 1178 documentary credits, in a move aimed at supporting the actions of the Iraqi Central Bank to stabilize the foreign exchange rate.

The «Central» Iraq announced in a statement, received a letter from the Association of Iraqi private banks which emphasizes «previously announced commitment to the initiative of three banks to sell the dollar eligibility to citizens at the lowest price. He said that the initiative «represent normal behavior show by Iraqi banks to stand with the trends of monetary policy, and the keenness of the Central Bank of Iraq with these banks to support the
(more…)

CBI is suing one of the members of the House of Representatives
Sunday, 02 June / June 2013 11:14

The Iraqi Central Bank, on Sunday, he would sue one of the members of the House of Representatives for insulting the bank, reiterated his claim politicians or wishing wading in such subjects standing on the health issues that they have, especially since some are real and illogical. (more…)

Published on Tuesday, 28 May 2013 17:57

BAGHDAD / obelisk: decreased sales of the Iraqi Central Bank of the dollar significantly in the session, on Tuesday, on the sale and purchase of foreign currency to U.S. $ 152 404 000 million, compared with 252 843 000 Million, recorded in a session on Monday, a stable exchange rate at 1166 dinars per dollar. (more…)

Sales of the Iraqi Central Bank on Tuesday declined significantly to reach 152 000 404 thousand dollars, have been covered by the bank at an exchange rate basis was 1166 dinars to the dollar, compared to yesterday Monday, as bank sales amounted to 252 000 843 thousand dollars. (more…)

23/05/2013 – 12:57

said the Iraqi Central Bank, on Thursday, continuing to support the banking activity in accordance with the policy stated, as called for all relevant parties to avoid irresponsible remarks that do not conform with the facts which it operates. ,

the bank said in a statement issued today, and received “Alsumaria News”, a copy of “The Governor of the Bank and the Agency Abdul Basit Turki Saeed held, today, a meeting with a number of managers of Commissioners and officials of private banks,” noting that “the governor said during the meeting to the bank continued to support the banking activity in accordance with the policy stated, Since qualifies these banks to perform its national role and contributing Avenue in building the economy of Iraq. ” (more…)

17/04/2013 12:17:00
BAGHDAD / NINA / The acting governor of the Central Bank of Iraq, Abdul Basit Turki discussed with the U.S. Federal Bank the issue of the protection of Iraq’s money.

A statement of the Central Bank of Iraq cited that the issue of the Iraqi Central Bank reserves and the Development Fund for Iraq and other technical issues were discussed during the meeting, which came on the sidelines of the spring meetings currently being held in Washington.”

http://bit.ly/11hF3Q9

Published on Wednesday, April 10 / April 2013 16:59

Criticized the central bank, Wednesday, “systematic attack” on policies to correct the Financial Action Task Force, while he stressed that he would pursue legal and economic implications of such targeting, he stressed that the banking institution should remain independent.

The bank said in a statement obtained by “obelisk”, a copy of which he “since been a change in the management of the Iraqi Central Bank, was expected to face action for change and try to re-Central Bank to its natural role and effective in building the country and its economy and combat opportunities for corruption and destruction institutional and was expected resistance and disrupt this trend. ” (more…)