Posts Tagged ‘bank’

CBI Gov Turkey: Central Bank is the sole body responsible for monetary policy in Iraq

Posted: May 23, 2013 in Iraqi Dinar/Politics
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Baghdad / Baghdadi news / .. declared the Iraqi Central Bank, on Thursday, continuing to support the banking activity in accordance with the stated policy and what qualifies these banks and serious contribution in building the economy of Iraq.

He said Iraqi Central Bank Governor agency Abdul Basit Turki said in a statement transfer press office and received / Baghdadi News / copy of it, and during a meeting with a number of managers of Commissioners and officials of private banks that “the sole and reference in the administration and the announcement of the monetary policy in Iraq,” (more…)

CBI achieves the highest reserves of hard currency in its history at $74 Billion

Posted: May 11, 2013 in Iraqi Dinar/Politics
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11/05/2013 – 15:35

revealed a banking source early on Saturday that the volume of reserves Iraqi Central Bank foreign currency amounted to $ 74 billion, noting that it is the highest reserves achieved by the bank in the country’s history.

source said in an interview for “Alsumaria News”, ” the size of central bank reserves of foreign currency amounted to $ 74 billion, “noting that” it represents the highest rate up to the bank of the currency in the history of Iraq. ” (more…)

Islamic Bank Commissioner: Actions taken by the CBI stood powerless to maintain USD/IQD exchange rate

Posted: May 4, 2013 in Iraqi Dinar/Politics
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Iraq.. The dollar “Tair” Accelerator cannot hold a Central Bank
04-05-2013 09:55 AM

Baghdad (News)/report/… Actions taken by the Central Bank stood powerless to maintain the exchange rate of the dollar to dinar, with the panting citizens daily to buy the dollar, which could be economic and political implications, (News Agency) discussed the phenomenon with experts in this field.

The Director says the country’s Islamic Bank Commissioner Hana Al-Khafaji: surprised by every morning with his lines of citizens who want to buy the dollar, and the strange thing is that all citizens want dollar for the purpose of trade or travel, noting that arguments are not convincing. (more…)

Dollar rises to 1280; Currency traders criticize the policy of the Central Bank

Posted: April 26, 2013 in Iraqi Dinar/Politics
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26-04-2013

The price of U.S. dollar in the domestic market rose sharply during the past few days, if the price of one dollar towards the 1280 Iraqi dinars, after it had been during the past month varies in the range of 1200.

Traders said foreign currency in Baghdad, in conversations with “Alsumaria News”, the exchange rate of the U.S. dollar, has been a remarkable rise since the beginning of this month, but this increase reached its peak on Wednesday, after he scored the exchange rate of one U.S. dollar 1285 dinars.

Neighboring countries and internal reasons behind the rise of the dollar in the markets (more…)

Doubts still surround the CBI auction for USD

Posted: April 24, 2013 in Iraqi Dinar/Politics
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Created on Wednesday, 24 April / April 2013 10:05 | |

BAGHDAD / Omar Shaher
Opened trade linked ERA sale of hard currency, which is managed by the Central Bank of Iraq, a power on the management of monetary policy in the country, the door to constitute financial groups, contributing members of the boards of a number of Iraqi private banks, according to experts.

And assesses the Iraqi Central Bank, since 2004, an auction day, selling through banks, companies and traders what they need of hard currency, compared to certificates of import receipts conversion, in order to prevent speculative market and control of the Iraqi dinar exchange rate against the dollar. The central bank sells one U.S. dollar to 1118 Iraqi dinars.But he does not sell directly to individuals. (more…)

Three zeros to be cancelled from Iraqi currency, says MP

Posted: April 17, 2013 in Iraqi Dinar/Politics
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1 USD = 1163.00 IQD

16 Apr 2013
Parliamentary Finance Commission MP stated that the Central Bank of Iraq will soon cancel the zeros from the Iraqi currency. MP Abdul Hussein al-Yassiri revealed that it will happen by this as the Central Bank of Iraq is taking all necessary steps to convert this plan into reality. (more…)

Economist are skeptical that massive CBI reserves will not work without exploitation of wise and independent

Posted: April 17, 2013 in Iraqi Dinar/Politics
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17-04-2013 12:32 PM

Baghdad (newsletter). There is no doubt that the national economy is surrounded by many potential challenges as declining oil sales or security tensions, but experts in finance and economy dissipated such fears two documents that the Central Bank has a large reserve of hard currency and gold being able to confront the mightiest economic shocks anticipated and curb inflation.

He said financial expert Samir Al-nasiri (News Agency): the Central Bank can maintain the stability of the national economy through its financial reserve, noting that the Central Bank’s reserves record over the past year 2012 top the Bank on Iraq and is 67 billion dollars, so there is no doubt the Central Bank’s capacity to deal with any economic fluctuations. (more…)

Central Bank strongly criticizes those targeting the CBI; Emphasizes follow-up to the legal and economic effects

Posted: April 10, 2013 in Iraqi Dinar/Politics
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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…)

Iraqi civil banks accuse CBI of not meeting the needs of the Iraqi market; Needs nearly $300 million in market every day to fill needs of the currency

Posted: April 7, 2013 in Iraqi Dinar/Politics
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4/7/2013 12:13

Accused the Public Authority for the North Bank for Finance and Investment, on Sunday, the CBI not to meet the needs of the Iraqi market of hard currency over the past five months and refer that the responsibility of private banks, while confirming that Iraq needs to pump nearly $ 300 million in the market every day to fill needs of the currency in the currency when he criticized the central bank remarks promised they attack him and “stems from ignorance and lack of knowledge of monetary policy.”

The head of the Board of Directors of the North Bank and Investment and Finance Nawzad David Dry in an interview to the (long-Presse), “The CBI did not meet the needs of the Iraqi market of hard currency for more than five months,” noting that “more than optimal needs met by local banks as makes a big upheaval between merchants and banks. ” (more…)

CBI denies lending GIO incorrect information; Consider’s abuse to his reputation and stagger to the Iraqi market

Posted: April 7, 2013 in Iraqi Dinar/Politics
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Published on Sunday, 07 April / April 2013 17:17

BAGHDAD / obelisk: The Central Bank of Iraq, Sunday, incorrect information, which says that it lends to the government, noting that this information designed to confuse the Iraqi market and harms the reputation of the central bank.

According to a statement of the Central Bank got “obelisk”, a copy of that, “a newspaper quoted statements to former central bank governor Sinan al-Shabibi that the central bank has independence for agreeing to lend to the government.” (more…)

CBI launches retail project payment through Mobile

Posted: April 3, 2013 in Iraqi Dinar/Politics
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04/02/2013 – Updated 04/02/2013
Fired central bank draft payment retail through the establishment of divided national platform and reciprocity to pay Palmobail.

bank said that “the project comes in the framework of developing the banking industry in the country and add new tools and advanced in the field of electronic payments.”

and called the bank “more than 30 international companies specialized in this field to participate in the bidding for the implementation of this national project. ” (more…)

Debate: Should Iraq take 10% of bank reserves to pay for investment projects

Posted: March 16, 2013 in Iraqi Dinar/Politics
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The problem is not in the proposal to invest money (10%) of bank reserves for investment projects
Date: Saturday 03/16/2013 07:45 pm

While I suggest the member of the parliamentary Finance Committee invest a fraction of the central bank reserves of hard currency and (10%) for investment projects serve the country, member of the Economic Commission representative that the country اتعاني of financial problem, but suffer from random in the investment of capital. (more…)

CBI Vice Governor Saleh to retire after his term

Posted: March 13, 2013 in Iraqi Dinar/Politics
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Refer the Deputy Governor of the Central Bank of the appearance of Mohammed Saleh to retire after the cancellation of the extension service
Published on Wednesday, March 13 / March 2013 12:55

A source in the Iraqi Central Bank, Wednesday, that Prime Minister Nuri al-Maliki referred the Deputy Governor of the Bank the appearance of Mohammed Saleh to retirement.

The source told “obelisk”, that “at the request of the Iraqi Central Bank got the approval of Prime Minister Nuri al-Maliki to cancel the extension service Deputy Governor appearance of Dr. Mohammed Saleh and his retirement.” (more…)

World Bank calls on Iraq to redouble their efforts for the development of the banking sector and attract foreign investment

Posted: March 12, 2013 in Iraqi Dinar/Politics
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The World Development Report 2011

Posted on Monday, March 11 / March 2013 17:48
BAGHDAD / obelisk: World Bank called for the Iraqi government, on Monday, to redouble their efforts for the development of the banking sector and regulations in the financial trading of Iraq, as a prelude to mobilize all sectors of the economy and investment.

The expert said the oldest in the affairs of private sector development at the World Bank Stephen ريمير, who is visiting Iraq at the head of a delegation from the Bank experts, for “obelisk”, “The World Bank provided advice and assistance and advice to Iraqi banks and working on plans developed and are waiting to reach officials from that to real serious steps, “noting that” the World Bank touching a genuine desire on the Iraqi side to develop its accounting and banking systems”. (more…)

Parliamentary Finance: We do not know anything about dollar smuggling to Iran

Posted: March 12, 2013 in Iraqi Dinar/Politics
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The time on Tuesday, March 12 / March 2013 09:19 | |

Baghdad / Orr News

Said Dler Abdul Qader, a member of the Finance Committee in Parliament that “the Finance Committee in the House of Representatives to have an ad hoc committee to follow up exchange rates, and everything related to the subject of foreign currency at the Central Bank

, But unfortunately, since the formation of this committee have not received a single report in this regard, and did not hear a single sentence on the tasks assigned to it, “noting that” the problems that were experienced by the central bank, and the situation that led to reached by Bank Governor Sinan al-Shabibi is itself is still ongoing and we suspect that the Iraqi funds be today in good hands, and we after approving the budget, we will diligently to follow up the case of high prices in the currency, because it is an issue involving the daily economic life of all the people. ” (more…)

Banking Expert: Iraq banking sector has great potential to compete with global banks; But still faces challenges ahead

Posted: March 11, 2013 in Iraqi Dinar/Politics
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Banker: the banking sector has the potential to qualify to compete with global banks
Date: Sunday 03/10/2013 06:21 pm

Likely banking expert Mohsen Ali, the development of the banking sector and promotion in the coming years and make it a global competitor, what possessed of great potential, calling “to creating a solid legislative environment to support this important sector. (more…)

Absence of a new law is the most prominent obstacle toward development of private banks

Posted: March 10, 2013 in Iraqi Dinar/Politics
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10/03/2013 13:29:00
BAGHDAD / NINA / The economic expert, Salam Smeisim said, “What is hindering the advancing of the private banks in Iraq is the absence of a new law regulating their work.” (more…)

Banking Adviser: The linking of Iraqi banks with contribute to the elimination of money laundering in bank sector

Posted: March 3, 2013 in Iraqi Dinar/Politics
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Banker: National chunked project will contribute to the elimination of the money laundering process
Published in: 3:50 pm, March 3, 2013 by ipa 2 Views: 67

BAGHDAD (Iba) .. adviser said the North Bank for Finance and Investment wholesome Elias Abou, that linking the Iraqi banks divided national project will contribute to the elimination of the root to the process of money laundering in the banking sector.

He explained Abbou told the independent press (Iba) “The project divided the national will connect Iraqi banks banks world through a network of financial transfers are supervision full of banks worldwide within the framework of foreign remittances, stressing: that this network will ensure convert all amounts to the state to be out without She went to terrorist acts and money laundering. ” (more…)

Economist Opinion: Directors of CBI must be efficient to avoid currency war

Posted: March 3, 2013 in Iraqi Dinar/Politics
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Expert: Directors of the Central Bank is efficient will avoid Iraq danger of a global currency war
Published in: 1:39 pm, March 3, 2013

BAGHDAD (Iba) .. called economic expert peace Sumaisem, Directors of the Central Bank to submit its foreign currency reserves and gold tables considerations of the international economy and to communicate with global stock markets to avoid the risk of a global currency war. (more…)

Report reveals the involvement of Parliament and politicians in the financial corruption of the CBI

Posted: March 2, 2013 in Iraqi Dinar/Politics
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02-03-2013

The Sri report revealed by the Office of financial supervision of the involvement of Parliament and politicians in financial corruption at the Central Bank, a parliamentary investigative Committee stressed on the issue that the Court of Auditors provided the impartiality and Justice report which reveals the actors involved in the sale and purchase of the dollar in the Central Bank auction. (more…)

Ahmed Faizullah: the need to draw on the expertise of international banks to support the banking sector

Posted: March 1, 2013 in Iraqi Dinar/Politics
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28-02-2013

Deputy Chairman of the Finance Committee of the Kurdistan blocs Coalition MP Ahmad Faizullah, the Central Bank talks with international banks to operate in Iraq as it would facilitate the process of foreign currency transfers and develop the banking sector.

He said Faizullah (News Agency): global banks have sophisticated banking experience upon entering the Iraqi banking sector will support the environment through the use of technological expertise, in addition to those banks also benefit from Iraq which have mutual interests. (more…)

Finance Committee Vice Chair praises CBI for working with international banks; Helps facilitate banking transactions and foreign currency transfers

Posted: February 28, 2013 in Iraqi Dinar/Politics
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Thursday, February 28, 2013
Parliamentary Finance: the need to take advantage of the expertise of international banks to support the banking sector

Praised Vice-Chairman of the Finance Committee MP Ahmed Faizullah, Bembagesat central bank with international banks to work in Iraq because it will facilitate the process of foreign currency remittances and develop the banking sector. (more…)

GOI is discussing with the U.S. Treasury delegation about reforming the financial and banking situation

Posted: February 27, 2013 in Iraqi Dinar/Politics
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How Your Personal Savings Rate Compares

Examined the General Secretariat of the Council of Ministers with a delegation and U.S. Treasury reform the financial and banking situation in Iraq, while The Deputy U.S. Treasury Secretary his country’s support for the international transfer of expertise relating to the conduct oversight and control over the movement of funds and the fight against money laundering.

The Secretary General of the Council of Ministers on the Keywords in a press statement on the sidelines of a meeting with Deputy U.S. Treasury Secretary David Cohen and his entourage, and received “Alsumaria News” copy of it, he “discussed with the delegation reform financial situation and banking in Iraq,” noting that “the meeting dealt with support financial and banking system in Iraq and the review of Iraq’s efforts in the anti-money laundering activity. “

(more…)

US Treasury Department delegation showed readiness to support Iraq’s efforts to strengthen the financial and banking system

Posted: February 25, 2013 in Iraqi Dinar/Politics
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Date: 2013-02-25 19: 07: 50 Monday

Baghdad (newsletter).Search Cabinet Secretary Ali Mohsen Ismail on Monday with a delegation from the US Treasury Department, headed by Deputy Minister Mr. David Cohen and his entourage, ways to support the financial and banking system in Iraq and review Iraq’s efforts in combating money-laundering.

(more…)

Mohsen Ali: the need to introduce modern systems work of local banks to be linked to global banks

Posted: February 23, 2013 in Iraqi Dinar/Politics
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23/02/2013

Baghdad (news) confirmed banking expert Mohsen Ali, the importance of introducing banking systems modern work of local banks private and government to keep pace with the evolution in the banking field and linked banks world.

said Ali (of the Agency news): The banking sector a major role in supporting and developing the investment process and the economy In general, must be provided a suitable ground for the support and promotion. (more…)

Economist: must watch sales dollar at the Central Bank for banking companies to prevent money laundering

Posted: February 22, 2013 in Iraqi Dinar/Politics
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Date: 2013-02-22 12: 46: 33 Friday

Baghdad (newsletter). The Economist stressed on behalf of the beautiful, the importance of activating the SAIS and the Directorate against money laundering to monitor foreign currency sold by auction of Central Bank to banking companies to curb money laundering.

A beautifully (News Agency): Central Bank cannot meet all the needs of businesses and individuals hard currency to the detriment of the national economy and citizens, to the dollar when sold from auction the Bank does anyone know where to distract you for development projects or to import consumer goods. (more…)

Deputy: Permit banks to grant credit will facilitate the operations of foreign exchange for the funds to citizens and merchants

Posted: February 22, 2013 in Iraqi Dinar/Politics
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On: Tuesday 19/02/2013 06:51 pm

According to Vice Chairman of the Finance Committee MP / coalition of Kurdish Blocs / Ahmed Faizullah that the decision to give the local authority to give banks credit will facilitate the process of foreign exchange for the funds for the citizens and merchants, calling for process control to reduce money laundering. (more…)

CBI gives companies sell currencies 4 months to submit their final accounts

Posted: February 21, 2013 in Iraqi Dinar/Politics
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02/21/2013

BAGHDAD / JD / .. Central Bank of Iraq has given companies broker for the sale of foreign currency four months to submit their final accounts.

The bank said in a statement received / JD / copy: Based on the decision of Board of Directors of the bank ‘numbered 1493, and held on 11.12.2012, it was decided that mediate companies to sell foreign currencies submission of final accounts no later than 30/6 of the year following the year of activity . (more…)

Specialists: Iraqi banking environment needed for sophisticated international banks to create a competitive atmosphere and the transfer of expertise and technology

Posted: February 19, 2013 in Iraqi Dinar/Politics
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Date: Monday 18/02/2013 06:31 pm

He attributed the number of deputies and specialists in banking reason behind the Iraqi banking sector for Global to legislation old still followed the local banking system. Calling during their talk to the need to encourage international banks to open branches in Iraq to create an atmosphere competitive between local and foreign banks and to benefit from the transfer of expertise and developments in the banking field. (more…)

Bank Expert: Iraq needs a well-developed banking system

Posted: February 13, 2013 in Iraqi Dinar/Politics
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Posted on 13/02/13 03: 18 AM

optimized banking expert blamed the declining investment in the country’s underdeveloped banking system and lack of security stability, stressing the need for a sophisticated banking system to attract foreign investors and to facilitate financial transactions for investors.

He said: the promotion of investment process in the country requires a well-developed banking system works according to the modern technology to facilitate the work of foreign investors who intend to invest in Iraq. (more…)

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