CBI News 06/05/2018

[yota691]

Do not deal with Rayside Online

 

  

 June 05, 2018

 

To all licensed banks, all electronic payment providers, brokerage companies for the sale and purchase of all foreign currencies and all financial transfer companies ( Rayside Online )

 

 

 

[yota691]

Announcement of ICD111 Auction Results (to sell Islamic certificates of deposit)

 

  

 June 05, 2018

 

  Central Bank approved on 4 / 6 / 2018 An auction ICD111 for the sale of certificates of deposit of an Islamic futures ( 14 ) days and $ ( 50 ) billion dinars (fifty billion dinars) were sold certificates amounting to ( 11,500 ) million dinars and a flat rate and the highest rate of return ( 0.70% ) , And the number of participants ( 3 ) banks have won the amounts provided.

[yota691]

National Payments Council

 

  

 June 05, 2018

 

The governor of the Central Bank of Iraq, Ali Mohsen Ismail, the first meeting of the National Payments Council, which includes its membership (the Central Bank of Iraq and government banks and the Association of Iraqi private banks and electronic payment companies and representatives of the security services and the Iraqi market for securities and the media and communication and the Ministry of Finance.

The Iraqi Central Bank confirms in a statement that at the opening the governor stressed the importance of this Council to build a strong relationship between stakeholders with the financial sector and banking, pointing out that the sovereignty did not start only after the availability of the basic rule to build the technical infrastructure and legal systems of payments in Iraq.

The governor said that the council will be the guide to monitor and monitor the payment systems through the participation of visions and proposals by the members of the Council.

Members of the Board of Directors also welcomed the start of its work, expected to contribute to the support of electronic payment projects by drawing up a national strategy for payments and overcoming the obstacles facing the work of the beneficiaries of these systems.

A representative of the World Bank was hosted at the meeting, which indicated that the National Payments Board is an advanced step, especially as 40% of the world's central banks have established payment boards in their countries and expects to contribute to Iraq's payment systems.

 

 

[gregp]

23 minutes ago, yota691 said:

Announcement of ICD111 Auction Results (to sell Islamic certificates of deposit)

 

  

 June 05, 2018

 

  Central Bank approved on 4 / 6 / 2018 An auction ICD111 for the sale of certificates of deposit of an Islamic futures ( 14 ) days and $ ( 50 ) billion dinars (fifty billion dinars) were sold certificates amounting to ( 11,500 ) million dinars and a flat rate and the highest rate of return ( 0.70% ) , And the number of participants ( 3 ) banks have won the amounts provided.

 

Did they just replace the USD with Dinar on the auction?

[Jaygo]

6 minutes ago, gregp said:

 

Did they just replace the USD with Dinar on the auction?

 

That is also what I am wondering... Yota??? Help???

[Rmc10]

[chris2028]

This seems to be something we have been waiting to see. But I am not quite sure. Yota any thoughts??

[yota691]

Auction Islamic certificates of deposit of the Central Bank of Iraq

Announcement of the auction of certificates of Islamic deposit - Central Bank of Iraq: Issue number IQCBIRICD111

The Central Bank of Iraq issued Islamic certificates of deposit and adopted the mechanism of application in the auction of certificates of the Central Bank, which is held periodically and announce the results (after the auction time).

The auction No. ( ICD111 ) Central Bank of Iraq is built on the basis of the common price for the amount of Alasaddarah ( 50 , 000 , 000 , 000 ) dinars and check on 2018 / 6 / 4 .

The total amount of bids received ( 11,500,000 , 000 . 000 ) dinars return Murabaha (highest Murabaha successful tender), which was determined at the auction was the rate of return 0 .70 % .

 Director General of the Department of Financial Operations and Debt Management  

Details

Securities Offered	Islamic certificates of deposit
Item Name	Aluminum
Amount of Issuances	50,000,000,000,000
Total offers made	11,500,000,000,000
Pricing	unified
Extend the certificate	14
Settlement Date	2018/6/5
due date	2018/6/19
Number of bidders for competitive bidding	3
Number of bidders for successful competitive bidding	3
Total accepted competitive bids	11,500,000,000,000
Total Successful Competitive Bidding	11,500,000,000,000
The extent of returns (Murabaha return) for accepted competitive bids	(0.70% - 0.70%)
Price (%)	0.70%
Average price of pieces for competitive bidding	0.70
The amount of offers offered as% of the amount offered	23.00

 

Auction details   

Islamic Deposit Certificate Scheme for ( 14 ) days

 

Note   : The above dates are in Day-Month-Year format

[bostonangler]

It is odd that all the figures seem to be in Dinar and not Dollars...

 

B/A

[NEPatriotsFan1]

Interesting! It did used to be listed in dollars

[skeetdog]

Thanks Yota...Looks like the bankers are lining up to do what bankers do...This could be the foundation of the private-sector's open-economy...jmho

[yota691]

6 minutes ago, yota691 said:

Auction details

From the Link they started 01/15/2018 this type of auction is #11 or name IQCBIRICD111

[bostonangler]

Just now, yota691 said:

From the Link they started 01/15/2018 this type of auction is #11 or name 111

 

Have they always been in Dinar only?

 

B/A

[Synopsis]

25 minutes ago, yota691 said:

The Central Bank of Iraq issued Islamic certificates of deposit and adopted the mechanism of application in the auction of certificates of the Central Bank, which is held periodically and announce the results (after the auction time).

 

I wonder if the "certificates of deposit" and "auction of certificates" is used now or will be used as a basis for issuing "Letters Of Credit" for companies wanting to do business internationally to establish a basis of capital viability for companies wanting to conduct business internationally. As noted by NEPatriotsFan1, these certificates are issued in Iraqi Dinar not US Dollars. So, if what I noted here is of any substance, why would these certificates be issued on a program rate non international currency for international business later for international company capital authentication to conduct international business?

 

Interesting.........................................

 

In The Mean Time............................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, LET 'ER BUCK!!!)!!!

   

[6ly410]

 

Edited June 5, 2018 by 6ly410

[Floridian]

This number is 50 TRILLION dinars worth of CDs:

 

Amount of Issuances

50,000,000,000,000

[NEPatriotsFan1]

Sovereign, thanks for pointing that out @Aryoseno! 

 

Stable and International would be cool too! 

 

Go 1:1

Go 3:1 

Go Former Glory

Go Pee on my boss’s Desk! 

 

Lol

Edited June 5, 2018 by NEPatriotsFan1

[6ly410]

Everywhere u look.... it’s all about the dinar now.

Edited June 5, 2018 by 6ly410

[CSM (R) Thack]

20 minutes ago, NEPatriotsFan1 said:

 Sovereign, thanks for pointing that out @Aryoseno! 

 

Stable and International would be cool too! 

 

Go 1:1

Go 3:1 

Go Former Glory

Go Pee on my boss’s Desk! 

 

Lol

“Go Pee on my boss’s Desk”!...Classic!!🤣😂🤣😂 

[navira]

No auction today for the dollar just the islamic certificates...let us see if stopping the auction immediately for the dollar n moving to real banking hold water this week

[6ly410]

10 minutes ago, navira said:

real banking hold water this week

It’s all lining up for sure haha 

Edited June 5, 2018 by 6ly410

[miquel]

Just now, 6ly410 said:

It’s all lining up for sure haha 

Lining up.... oh I get it - hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha!!!!!!!!!

 

That was a good one.

[NEPatriotsFan1]

9 minutes ago, 6ly410 said:

It’s all lining up for sure haha 

🤞🏻🤞🏻🤞🏻

[Texstorm]

2 minutes ago, miquel said:

Lining up.... oh I get it - hahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha!!!!!!!!!

 

That was a good one.

Double down on that on ! I don't have a clue either......wish I did.....wish it was already over one way or the other.....until then we wait. Go DV ! Go RV !

[6ly410]

Wow I never thought I would be that famous getting reds on every post.. wow haha anyway back to the subject...the dinar is looking pretty good 

Edited June 5, 2018 by 6ly410