CBI News 01/29/2018

[yota691]

Bank Statement

 

 January 29, 2018

 

To / money transfer companies all / financial investment companies all / electronic payment companies all / companies to broker the sale and purchase of foreign currencies all / bank guarantees companies and companies with a similar activity all / small and medium - sized loan companies and similar activity all ( bank statement )

 

 

 

[yota691]

Auction for selling (counting machines, sorting and currency packages)

 

 

 January 29, 2018

 

The Central Bank of Iraq announces a public auction for the sale of ((counting machines and sorting and currency packs)) under the Law of Sale and Rent No. (21) for the year 2013. Invites those wishing to participate in public bidding to attend the building of the Central Bank of Iraq / Rashid Street on Sunday, 2018 / 2/18 at 10 am according to the following conditions:

1. A certified instrument for the order of the Central Bank of Iraq in the amount of (1.260.000) million and two hundred and sixty thousand Iraqi dinars, which represents 20% of the value of the estimated value of the machines are not allowed to enter the auction without providing insurance.
2. Original and photocopy documents of the baker.
3. The bidder shall bear the fees of publishing the advertisement and the fees of the mark by 2%.

[Flamtap]

Thanks Yota 

[yota691]

Central: Transformation and brokerage companies and financial investment does not keep disclosure of accounts balances with banks

 

Monday, 29 January

 

 

Alsumaria News / Baghdad ,  said the Iraqi Central Bank , on Monday, the transfer and brokering of financial and investment companies do not retain the disclosure of the assets of open accounts at banks.  The bank said in a statement received, Alsumaria News, a copy, it is "no luck through the inspection bodies that the transfer companies, mediation, investment and electronic payment and guarantees and loans and small and medium-sized companies and similar work does not keep the disclosure of account balances open with banks, which can not know the cash balance of the company "He said.     The bank added that "your bank account must be kept open at the time of any deposit or withdrawal, or weekly in the absence of modern movements, to know the cash balance of the company and recorded in your records so that the inspection bodies to do the necessary."  The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

[yota691]

Press release

 

  

 January 29, 2018

 

The Central Bank of Iraq invests in the Chinese yuan currency

The Director of the Information Office of the Central Bank of Iraq, Acer Jabbar that this bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios as well as the geographical distribution of investments of this bank and for this "signed and through the Investment Department in the Central Bank agreement banking arrangements with the People's Bank China ", which will contribute to the development of banking relations with global economies, especially with the Chinese economy.

The investment was made in the currency of the "Chinese yuan" after being included in the IMF's special drawing rights basket by late 2016, which led to the yuan's appreciation of international liquidity.

Government bonds in the Chinese yuan have higher returns than other currencies, including the US dollar.

Baghdad

29 January 2017

[yota691]

The central bank is expanding its basket of currencies to include the Chinese [yuan]

Release Date: 2018/1/29 14:10 • 7 times read

[Ayna-Baghdad] 
The Central Bank of Iraq, announced its investment in the Chinese currency [Yuan].

"The bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios, as well as the geographical distribution of the investments of this bank. For this purpose, and through the Investment Department, the director of the Central Bank Information Office, Acer Jabbar, The central bank has a banking arrangement agreement with the People's Bank of China, which will contribute to the development of banking relations with global economies, especially with the Chinese economy. " 
"The investment was made in the currency of the Chinese yuan after being included in the basket of special drawing rights by the International Monetary Fund in late 2016, which led to raise the currency of the Chinese yuan in international liquidity." 
"Government bonds in the Chinese yuan have higher returns than other currencies, including the US dollar," he said.

[gregp]

Good morning,Yota.

 

The news keeps getting better & better. 

 

Thanks. 

[yota691]

The central bank announced its investment in the Chinese yuan to diversify its foreign reserves

 

Monday 29 January

 

 

Alsumaria News / Baghdad ,  said the Iraqi Central Bank, on Monday, for his investment in the currency of the Chinese yuan, indicating that associated with this currency government bonds characterized by high returns.  The bank said in a statement that it signed a banking arrangements agreement with the People's Bank of China through its Investment Department, noting that the agreement will contribute to the development of banking relations with global economies, especially with the Chinese economy.     The bank added that it "invested in the Chinese yuan currency after being included in the basket of special drawing rights by the International Monetary Fund in late 2016, which led to raising the currency of the Chinese yuan in international liquidity," noting that "the investment comes to diversify its reserves Foreign exchange and diversification of currency basket in investment portfolios, as well as the importance of geographical distribution of investments of this bank.  "Government bonds linked to the Chinese yuan have higher returns than other currencies, including the US dollar," the bank said.  The yuan is the official Chinese currency which is used in the People's Republic of China. It is divided into the following categories: one yuan, 2 yuan, 5 yuan, 10 yuan, 20 yuan, 50 yuan, 100 yuan. The Chinese yuan is one of the most widely traded currencies in the world. For decades, China has been keen to keep the yuan low, giving it a distinct advantage against other currencies and the ability to boost China's export earnings.

[yota691]

The Central Bank of Iraq invests in the Chinese yuan currency

 

Banks Economy News _ Baghdad The Central Bank of Iraq announced on Monday its investment in the currency of the "Chinese yuan" to diversify its foreign reserves.  "The bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios as well as the importance of the geographical distribution of investments. In order to do so, and through the Investment Department of the Central Bank signed a banking arrangements agreement with the People's Bank Chinese ".  "The agreement will contribute to the development of banking relations with global economies, especially with the Chinese economy," he said.  "The investment was made in the currency of the Chinese yuan after being included in the basket of special drawing rights by the International Monetary Fund in late 2016, which led to raising the currency of the Chinese yuan in international liquidity," the statement said. Government bonds in the Chinese yuan have higher returns than other currencies, including the US dollar.   Views 14   Date Added 29/01/2018

[fnbplanet]

So, what are they buying the Yuan with?  New funds (adding to the reserve) or current CBI funds (neutral to the reserves)?  Dinars or dollars? 

[justchecking123]

Interesting.

 

[Butifldrm]

Iraqi Oil Ministry: Iraq plans to build oil refinery in Fao with Chinese investments

By Dhwani Mehta

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Reuters reports the latest headlines released by the Iraqi Oil Ministry, citing that Iraq plans to build an oil refinery in Fao with Chinese investments and also plans for two other refineries.

No further details have been mentioned on the same.

https://www.fxstreet.com/news/iraqi-oil-ministry-iraq-plans-to-build-oil-refinery-in-fao-with-chinese-investments-201801290646

[Butifldrm]

8 hours ago, fnbplanet said:

So, what are they buying the Yuan with?  New funds (adding to the reserve) or current CBI funds (neutral to the reserves)?  Dinars or dollars? 

 

Hopefully IQD, Yuan Currency Swap! 

[boosterbglee]

I knew I should have invested in Yuan! 

[yota691]

The Central adds {Chinese Yuan} to the basket of currencies

31/1/2018 12:00 am  With the aim of diversifying its foreign reserves in investment portfolios   Baghdad / Mustafa al-Hashemi  Iraq seeks to strengthen its financial resources by investing abroad in assets and bonds to achieve financial returns with good benefits that strengthen the reserve foreign exchange.  In this regard, said the academic economist d. Essam Mahawili: This step will push the Iraqi economy towards stability in the field of foreign investment and international assets and bonds and diversification.  Mahaweli Bin said in an interview with Al-Sabah, the importance of "economic openness to the world in the field of investment in guaranteed bonds to countries that have credit ratings to advanced degrees because it enhances Iraq's foreign exchange money." On the other hand, Al-Mahawili encouraged "local investors and banks to acquire treasury bonds launched by the Ministry of Finance and remittances of the Central Bank because it contributes to the re-employment of funds mobilized by the public by the banking system to serve the development process."  "The Central Bank is keen to diversify its foreign reserves and diversify the basket of currencies in the investment portfolios, as well as the importance of geographical distribution of investments of this bank."  "To this end, the central bank's investment department signed a banking arrangements agreement with the People's Bank of China, which will contribute to the development of banking relations with global economies, especially with the Chinese economy," the bank said in a statement. "The investment was made in the currency of the Chinese yuan after being included in the Special Drawing Rights (SDR) basket of currencies by the International Monetary Fund (IMF) in late 2016, which led to raising the yuan's currency in international liquidity," Jabbar said.  Government bonds in the Chinese yuan have higher returns than other currencies, including the US dollar.  Meanwhile, the People's Bank of China (PBOC) abandoned open market operations on Tuesday to maintain liquidity in the banking system.  The bank said on its website that the suspension had been made to offset the impact of factors such as emergency reserve arrangement, financial expenditure and reverse repurchase agreements due.  Yesterday's reverse repurchase agreements amounted to 240 billion yuan (37.9 billion US dollars). Reverse repurchase agreements are a process through which the central bank purchases securities from commercial banks through tenders, with an agreement to resell them in the future.  The central bank is increasingly relying on open market operations to manage liquidity rather than lowering interest rates or mandatory reserve rates for banks.  China will maintain a prudent and neutral monetary policy in 2018 as the world's second-largest economy strives to balance growth with risk prevention.

[Pitcher]

After I felt like I had plenty of Dinar and Dongs I started buying Chinese currency. There are over 300 millennials in China.  The sleeping giant has awoken. Their currency will slowly climb higher imo.  

[jmartin1145]

2 minutes ago, Pitcher said:

After I felt like I had plenty of Dinar and Dongs I started buying Chinese currency. There are over 300 millennials in China.  The sleeping giant has awoken. Their currency will slowly climb higher imo.  

Hopefully for you, you are correct Pitcher. Love to see a winner.

[Pitcher]

I’m mostly a US market stock trader and investor but I have a budget for what I call long shot gambles.  17 years ago I bought 500  shares of a little company called Google. Still own 100 shares.  I also bought a few dot coms that dot went broke.  

[Calijim]

  Seems to me China’s economy relies on manufacturing.  Periodic devaluation of their currency is paramount to keeping export prices low, thus keeping the factory production going and their growing population employed. Same with Vietnam ,however Iraq’s economy is based on oil and soon mining. These are commodities that are fair traded on world markets. Iraq has everything to gain by revaluation of their currency. I think they are holding the RV as an “ace in the hole” in case the price of oil drops “and it will with mass US production coming on line”. Iraq will be able to create instant wealth to fund the government and keep their economy moving forward. The CBI is  just Hedging their position by diversifying their basket of currencies. I am confident the RV will happen, just don’t let it dictate how to make your daily life choices. GO RV!!! 

[Bama Girl]

On 1/30/2018 at 7:15 PM, Pitcher said:

I’m mostly a US market stock trader and investor but I have a budget for what I call long shot gambles.  17 years ago I bought 500  shares of a little company called Google. Still own 100 shares.  I also bought a few dot coms that dot went broke.  

Sweet! 💸💸💸💸 regarding Google. The profit you made there makes way up on your loses.😊

Edited February 1, 2018 by Bama Girl

[murd11]

On ‎1‎/‎30‎/‎2018 at 4:55 PM, Pitcher said:

After I felt like I had plenty of Dinar and Dongs I started buying Chinese currency. There are over 300 millennials in China.  The sleeping giant has awoken. Their currency will slowly climb higher imo.  

Trouble with the yuen is that it is  artificially kept with the value down in order to keep their exporting at a very high level. They won't raise the value. That is why the U.S. is having trouble with their exporting.

[Pitcher]

They also block our products from entering the country. Just ask any farmer and numerous Tech companies. 

[murd11]

That negerator is loose. Right little boy? I thought you blocked me

[MyLadiesDaddy]

Sounds like China just bought a of dinar