Abdul Hussein al-Yasiri: high exchange rate of the dinar by the presence of Central Bank reserves

 Thursday, 14/06/2012

Baghdad (news) .. Ills member of the Finance Committee MP / National Alliance / Abdul-Hussein al-Yasiri, the high exchange rate of the Iraqi dinar against the U.S. dollar to the presence of central bank reserves.
Yasiri said (of the Agency news) on Thursday: The improvement of the strength of the Iraqi economy and central bank reserves and the existence of the private sector from private banks contributed to raise the exchange rate dinar and the presence of the balance of payments positive, which shows some of the exports of foreign goods more than its imports all of these factors lead to revaluation of the dinar against the U.S. dollar.

The Yasiri to: the existence of "critical theory" which states the general acceptance of the currency and the strength of attraction in all countries such as the dollar, which has a acceptability all over the world, while the Iraqi dinar deal it only in Iraq, and continued: Demand If you find a dynamic price tag is determined by dynamically If there is supply and demand by the rising price of these flow rates lead to increased bad was local or foreign.

He added that directed the Central Bank of the year (2003 -2004) to buy a paper currency of Iraq to reduce what is displayed in the Iraqi market and increase demand and push the dollar in the auction, the central bank and buy dollars in Iraqi local and even determine the exchange rate a thousand and six hundred dinars, and then a thousand and five hundred to the dollar and continued Bank to sell the dollar in foreign currency to raise the Iraqi dinar demand and the lack of quality in the market and the price level declines against the dollar content more than the Iraqi dinar.

And Yasiri: that Iraq has oil revenues in dollars of foreign Fbasttaath to make a thousand dinars dollar and can be withdrawn by the Iraqi currency and pumped the largest amount of dollars and reduce the width of the Iraqi currency will become more valued and all these factors lead to high exchange rate of Iraq against the U.S. dollar. Finished / 21. for. m /

 

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Central Bank: slow computational procedures to the observer behind the non-return of the Warka Bank to work

 Thursday, 06.14.2012

Baghdad (news) .. The Central Bank of the slow action of the observer in charge of the arithmetic and control of inventory of assets of the Warka Bank for the lack of return to work at the moment.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh in a statement (of the Agency news): The Warka Bank is one of the private banks which are exposed to a problem with the liquidity and wealth Alrismalah of the bank have fallen so and under the Banking Act No. 94 of 2004 and the Central Bank Law, it shall be the Central Bank of custody The bank in this case.

He added that guardianship means the creation of an interim administration until the evaluation of the bank and find out and put it Alrismala.

Saleh pointed to: that the lifting of guardianship or continuation depends on what is available from the assets in the banks so head the central bank, according to the law (64) of the Banking Act to ask for a loan from the government in its financial position and this depends on the decision of the Controller of account, which costs from both parties from the central bank and the government.

And the favor: he is supposed to observer arithmetic to raise a report to the trustee within weeks of any central bank, and then the central bank raises the report to the government and confirming that the Warka Bank is subject to the lives and assets are good, but subject to minor problems and to preserve the stability of the financial system can be saved and return to his situation.

He said: The bank is expected that the external auditor's report of its proceedings, but the fact that there is a slow and buildings assets held by issue is taking a long time Palmsph him.

The Executive Director of the Association of Iraqi private banks Abdul Aziz Hassoun announced a number of media in August 2011 that the Warka Bank needs to be about 100 billion Iraqi dinars (90 million) to boost its liquidity while confirming the Iraqi market for securities that the Board of Governors in the Iraqi Stock Exchange decided to write off the inclusion of Al Warka Bank from the market in accordance with paragraph IX of Article V of the instruction number three amended for the year 2011, which provides for the write-off company from the listing if the stoppage of circulation for six months without taking appropriate action to appeal pointing out that the Warka Bank is turned off from trading since the eighth of February 2010
The Warka Bank for Investment and Finance which was established in 1999.130 branches and (350) ATMs in all parts of Iraq.

The central bank set a three-stage plan to raise banks' capital to 213 million by June 2013 to stimulate lending at a time when Iraq is recovering from the sanctions and the U.S. invasion in 2003.

It is noteworthy that Iraq has seven banks owned by the state and (23) private banks, eight Islamic banks particularly according to the website the central bank as dominated by the banking sector, banks, Rafidain and Rasheed Aovernmaan and are under way to restructure in order to pay off the debts that have accumulated after years of war and sanctions / Finished / 3 . n. r /

 

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Deputy: compel traders to deal with solid banks to prevent money laundering

 Wednesday 13/06/2012

Baghdad (news) .. The Deputy Chairman of the Finance Committee MP / Kurdish coalition blocs / Ahmed Hassan Faizullah, to compel the Iraqi trader to dealing with international banks in the sober foreign money transfers set aside the national economy, money laundering and the smuggling of currency.
The flood of God (the Agency news) on Wednesday: The money laundering and the smuggling of foreign currency that have appeared recently came through the deal the Iraqi traders with banks is internationally known and sober what led to the transfer large sums of money abroad without the receipt of goods.

He added that the only solution to maintain the value of Iraqi dinar against the dollar is forcing the Iraqi trader to dealing with international banks sober to avoid a currency smuggling and money laundering of Iraq, through the issuance of instructions by the central bank adhere to them.

He stressed: that the seventh item does not prevent Iraq from dealing with international banks in the conversion processes of Foreign Affairs, noting that international banks are looking for profit and not considering that the country you are dealing with is subject to Chapter VII internationalist or not. / Finished / 8. D. Q /

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Member of Finance Committee: Allow for (40) waged a bank to sell the dollar right decision will save the value of the dinar

 Wednesday 13/06/2012

Baghdad (news) .. Praised the Finance Committee MP / National Alliance / Haitham Ramadan Jubouri, the decision granting (40) Musrvat civil strife leave to sell the dollar, calling it a good decision will reduce the price of the dollar against the Iraqi dinar and facilitate the sale.
Jubouri said (of the Agency news) said on Wednesday: The decision to grant the Parliamentary Committee (40) civil strife vacation bank to sell the dollar will increase the dollar amounts involved, which leads to lower its price in front of the dinar, noting that the multiplicity of private banks would stimulate the private sector.

He added that the increased marketing outlets is an important step to support the private sector and preserve the value of Iraqi dinar volatility.
He explained: that the presentation of the dollar in the bank in a large quantity supplied will equal those required, which contributes to the stability of its exchange rate against the Iraqi dinar.

It is noteworthy that the Finance Committee in the House of Representatives agreed to the traps (40) banks, civil strife, to break the monopoly of the government banks to sell the dollar and increase the display to control the rate of exchange against the dinar. / End / 21. D. Q /

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Deputy for Iraq: Iran, Talabani pressure on the practice of non-confidence motion .. And to hand over power peacefully Maliki

 Wednesday 13/06/2012

Baghdad (news) .. Confirmed the MP / coalition in Iraq / Alabtan faith, the continued efforts of withdrawal of confidence, noting that Iraq and its allies demanding Maliki Pfsh space for someone else to be traded peacefully to power.
Alabtan said in a statement (of the Agency news) on Wednesday: The Iraqi List and the allies of the Sadrist movement and the Kurdistan Alliance project are continuing to withdraw confidence from the Prime Minister Nuri al-Maliki, according to the Constitution, indicating that Iran is exerting pressure to keep Maliki in power.

And she said that President Jalal Talabani, according to his constitutional powers can apply to withdraw confidence from the Council to implement this option, saying that her coalition Egypt to withdraw its confidence as stipulated by the Constitution to be a rotation of power peacefully.

She explained: that her coalition has no contrast with al-Maliki personally, but disagreement about the approach used in the management of the state, where the masses gathered in Erbil agree that any person nominated by the National Alliance, rather than al-Maliki.

Said: There are practices and pressure on the Iranian President Jalal Talabani made it away from its obligations towards the protection of constitutional democracy and the protection of the Constitution. / End / 12. D. Q /

 

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Bank: Central Bank to impose new restrictions to reduce the leakage of currency outside

 Tuesday 06/12/2012

Baghdad (news) .. The adviser North Bank for Finance and Investment wholesome Elias Abou, the central bank issued new instructions for the banks limit the smuggling of currency out of Iraq.
He said Abbou (of the Agency news) on Tuesday: The Central Bank issued new instructions for the banks include restricting transfer hard currency out of Iraq and the imposition of import license, excluding, transfers are made for the purpose of treatment where the right of the citizen to convert (10) thousand dollars to the price announced by the Central Bank yet to submit a medical report and procedures for travel for treatment.

Abbou said: You will be importing goods under import license which is evidence of the arrival of the goods and to identify the Mnashiha, reducing the leakage of currency outside of Iraq.

The Abbou to: that these measures will reduce by a few of the leak due to the presence of currency exchange offices and the offices of the currency conversion of the citizen that buys what he wants of foreign exchange and turn them out. Finished / 21. D. Q /

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Jawad Hasnawi: the countdown began for the withdrawal of confidence because the country is moving towards dictatorship

 Tuesday 12/6/2012

Baghdad (news) .. The member of the Liberal block of the Sadrist MP / National Alliance / Hasnawi Jawad, a number of signatures required to withdraw confidence from the Prime Minister Nuri al-Maliki, adding that the members of his bloc would not withdraw their signatures.
Hasnawi said in a statement (of the Agency news): The three political blocs (the coalition in Iraq and the Kurdistan Alliance and the Liberal bloc) will resort to a conference soon to trade at some point after the withdrawal of confidence from the Prime Minister Maliki.

He added that the meeting will be held during the next two days in the presence of the three political parties, to promote the circulation of the steps by the country after the withdrawal of confidence, explaining that the three blocs will resort to the House of Representatives to withdraw confidence.

He said: I have not drawn any member of the Liberal bloc signed and that the required number is present, attempts to withdraw confidence going, it is a democratic mechanism exercised by all States with parliamentary system.

He pointed out: that the countdown to the withdrawal of confidence from the Maliki has begun, and that the coalition has no objection to the performance of the government, but our objection to the policy pursued by al-Maliki, which is moving the country towards one-party dictatorship and a single person. / End / 12. D. Q /

 

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