Central Bank denies the low reserves of foreign currency

14/04/2012

BAGHDAD / JD / .. denied the Iraqi Central Bank to inform the decline in reserves of foreign currency in recent times, stressing that these precautions have escalated. He said the Iraqi Central Bank in a statement late on Friday, I got the agency (JD) a copy of it ": that some of the journalist community deliberated analyzes marred by a lot of palaces, which indicated that the reserves of the Iraqi Central Bank foreign currency has fallen in recent months, a few billion of dollars. and the central bank said that these numbers or other is the result of sales of the ordinary from the dollar to its customers of Iraqis and through the daily operations of an auction of foreign currency in the past months or years, knowing that the bank's reserves of foreign currency has not declined but increased during the last period. pointed central to The direct intervention of neighboring countries in this auction is baseless and unfounded, although the regional impacts of current left indirect effects on the movements of foreign exchange in the domestic money market. The Finance Committee of the House of Representatives has warned of the danger of the continuing decline in exchange rate the dinar against the U.S. dollar, which arrived during the last few days of 1300 dinars to the dollar, for the first time in nearly four years. the other hand, reduced the bank adviser appearance of Mohammed Saleh, the risk of devaluation of the Iraqi dinar against the dollar, and said it bubbles forming will disappear gradually. It is noteworthy : The Cabinet had formed a committee to study the fluctuation of the Iraqi dinar exchange rate in recent times, to provide appropriate solutions and to prevent harm to the national economy. / Finished / 22 /

Link

Central Bank of flops due to some political and economic brands

14/04/2012

BAGHDAD / JD / .. revealed the parliamentary finance committee for violations of the policy of the Iraqi Central Bank play a prominent political and some economic brands. A member of the Committee Haitham Jubouri's / JD / "The policy of the Central Bank of wandering and witnessing violations of some brands of economic," in addition to "the involvement of some politicians in this role and advantage of the situation in order to obtain profits at the expense of the Iraqi economy." (To him) and to address Jubouri "We do not accuse the central bank in full, but we draw the charge of some personalities that can be accused of violations taking place in the Central Bank". The Member of the Knesset Finance that "the moment is appropriate to introduce new Iraqi currency in the market for economic reasons several, saying that" making it a must to keep the exchange rate of the market and on the Iraqi dinar volatility. "And states: that the Cabinet had formed a committee to study the fluctuation in the rate Iraqi dinar exchange in recent times, to provide appropriate solutions and to prevent harm to the national economy. denied the Iraqi Central Bank to inform the decline in reserves of foreign currency in recent times, stressing that these precautions have escalated. said the Iraqi Central Bank in a statement late on Friday, I got the agency (JD ) a copy of it ": that some journalistic circles deliberated analyzes marred by a lot of palaces, which indicated that the Iraqi Central Bank's reserves of foreign currency has decreased during the last few months, billions of dollars. The central bank said that these numbers or other sales are the result of the dollar to the regular customers of Iraqis and through the daily operations of the foreign currency auction in the past months or years, knowing that the bank's reserves of foreign currency has not declined but increased during the last period. He noted that central to the direct intervention of neighboring countries in this auction is baseless and unfounded, although the regional impacts of current left indirect effects on the movements of foreign exchange in the domestic money market. / Finished / 11 n

Link

Warn of economic exploition of an auction sale of currency for the porposes of a bad

14/04/2012

BAGHDAD / JD / .. warned the parliamentary economic committee of the exploitation of an auction sale of currency carried out by the Central Bank for evil purposes. Committee Chairman Ahmed al-Alwani's / JD / "The low exchange rate of the Iraqi dinar recently due to several reasons, is the exploitation of an auction sale of currency carried out by the Central Bank for purposes other than noble, in addition to the money laundering operations." Alwani said, "The Central Bank is on volatile Iraqi dinar exchange rate and is responsible for actively secure the line of lines to make the Iraqi dinar and settles back to its position in the market." He said, "The Economic Commission for follow up and monitor the work of the Central Bank would intervene in the timeline and solve problems." And student-Alwani, "the Central Bank of new procedures regarding the identification of those who deal in dollars and reduce the speculative market," calling me. "Mechanism and the conditions make it deals with the dollar are the points of solid and recognized by the state as if they are well-known companies are not the names and fake exploit the current state of things are not in interest of the country. " He pointed out that "monetary and fiscal policy in Iraq need to re-organize the implementation and especially since the country is in transition." The head of the parliamentary economic committee "during the next phase of the dinar exchange rate will return to what it was before when there is an objective study to resolve the crisis." / Ended / 11 n

Link

Member of the parliamentary Finance: Linking the central bank and the violation of constitutional government is serious in the direction of the state

Saturday, April 14 / April 2012

Member of the parliamentary Finance: Linking the central bank and the violation of constitutional government is serious in the direction of the state

[Baghdad - where]

Confirmed member of the parliamentary Finance Committee Najiba Najib that link the Central Bank of the government and stripped of its independence is a breach of a constitutionally significant, indicating that the central bank of independent institutions that are proud of because it controls the state's fiscal policy as well.

He said Njie told all of Iraq [where] the day, that "the attempt by some to link the Central Bank of the state indicates the existence of tendencies dangerous in government policy," stating that "when the Central Bank shall issue a decision what to state institutions to provide necessary assistance to him in the implementation and if it had been linked to World government will reflect this and therefore would have a negative impact on the Bank's policy. "

She added that "to subject the decisions of the bank or directions or follow a specific destination, even though the government then it will affect the decisions taken."

The Chairman of the House of Representatives Osama Najafi said during a session of the House of Representatives on Saturday about the "message sent by him to Prime Minister Nuri al-Maliki urging him where not to interfere in matters of the Central Bank, and showed the message functions and duties of this bank, which is one of the independent institutions." Ended 2

Link

Expert: the integration of private banks will support strategic projects

Saturday 04/14/2012

Baghdad (news) .. Proposed banking expert Mohsen Ali small private banks merge to become a solid banks with a capital of a large government banks compete in their work.
Ali (of the Agency news) on Saturday: The process of the Federation of small private banks with a capital little among themselves during the current period has become necessary to be prudent banks compete with government banks in support of strategic projects of the country.
He pointed to: that most private banks earn little money and has no actual contributions in the investment process of the country, calling for promoting the integration of private banks to become big benefit of the country in the distribution of loans and advances to citizens and other projects.
The expert banking: the importance of activating the private sector in all fields, especially the private banks to take their role in building and reconstruction of the country through the encouragement and support, and make the Iraqi economy, free market economy depends on the private sector in all economic fields, and free them from the hands of the state. / Finished / 8 . d. Q /

Link

Deputy for the Iraqi bloc free: there are companies that are not known to deal with the central bank to lift and caused the dollar exchange rate

Saturday 04/14/2012

Baghdad (news) .. Called MP / Iraqi bloc of free / Zuhair Araji, the committee formed by the prime minister to investigate the reasons for the high price in front of the dinar.
They said in a press statement: there is information to suggest that companies that used to deal with the Central Bank, which received official approval in this regard are the 21 companies and the Bank only, but what happened later is the entry of 10 companies and banks on the unknown and having to deal with the Central Bank in hard currency, for a total of 31 companies companies.
He added that the companies the last 10 started to deal with the Central Bank after it was officially announced Company of the 21 within the limits announced by the Bank at the time, and these companies today take the amount in dollars up to a top of 1 129 Iraqi dinars and turning these funds to these banks and companies that The re-deposited in other banks, offices, intermediate, leading to a further increase in the price of the dollar, note that the amounts in foreign currency are withdrawn large sums of money compared to viability of the Central Bank and the Iraqi economy.
He explained: that the investigative committee to study these things carefully to check how to enter these ten companies after the completion of the acceptance of dealing with the 21 companies that deal in hard currency according to the controls. / Finished / d. Q /

Link

Deputy central bank bears Yasiri responsibility leave Iraqi funds frozen in international banks

Saturday 04/14/2012

Baghdad (news) .. Download a member of the Finance Committee MP / National Alliance / Abdul-Hussein al-Yasiri Central Bank responsible for not investing the money on deposit in Iraqi banks, despite the fact that the country desperately needed for the implementation of investment projects and services.
Yasiri said (of the Agency news) on Saturday: The central bank bears the greatest responsibility not to invest in Iraqi funds frozen in international banks, amounting to more than (62) billion dollars, stressing that the invested properly to ensure substantial financial resources of the state through use of in the implementation of projects investment and service, as it will solve a lot of the problems suffered by the Iraqi citizen, such as electricity, housing and others.
He added that money should be invested and used to meet the requirements of the country, wondering what the benefit of the freezing of these funds by the Central Bank of Iraq in international banks and investment move without the service of the country.
According to Deputy Yasiri: Central Bank of Iraq to take advantage of the government guidelines in the development of future plans and employment of its monetary policy as it is an executive must be referred to and coordination with them in all matters of state, and calls that do not support it so wrong.
It is noteworthy that the CBI had said earlier about having backed up financially by the foreign exchange is estimated at (65) billion dollars is retained for the conditions of emergency that may occur in the country, in addition to that it is a cover financially the local currency can not be disposed of. / Finished / 8. d. Q /

Link