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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


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Monetary power and its role in controlling spending

 


02/8/2018 12:00 am 

Baghdad / Emad emirate  
plays a monetary authority, through the control of interest rates and bank credit rate, a role in controlling the spending of economic units and maintain the value of the currency swings that may hit it due to a deficit in the balance of payments, as it adopts monetary policy - according to specialists - a set of goals Independently of each other to have a clear impact on the structure of the 
 economy. Price stability between the academic economist d. "Monetary policy is working to reduce the impact of continuous changes in the level of prices and the attendant fluctuations in the value of money, and its adverse effects on the level of distribution of incomes and wealth and the allocation of economic resources," stressing that "the goal of price stability of monetary priorities of the Authority to maintain the value and size Monetary trading in the economy ". Balance of Payments


"When a balance-of-payments deficit occurs, monetary policy raises the interest rate, leading to a decline in the credit of the economic authority and then its liquidity, which makes it regain its capital abroad and the return of foreign capital to the country following the rise in the local interest rate," he added. To the rise in the size of foreign assets and improve the balance of payments and vice versa occurs in the case of surplus. 
"The monetary authority seeks to influence and revive the investment environment to achieve a continuous and appropriate increase in GDP growth or average real per capita income by influencing the investment by changing interest rates that achieve growth rates in GDP," he said. 
interest rates
For his part, said the academic economist d. Falah Hassan Thwaini "Monetary policy can not achieve two or more goals at the same time, for example, stabilization of prices often collide with the stabilization of interest rates, and the reduction of inflation requires a monetary policy of deflation to raise interest rates, which causes the reduction Investment ". The economic situation explained Thueni "reaching the ultimate goal of monetary policy necessitates a number of measures that require a period of time to choose and start implementation and achieve results, and may be during the period of time shift in the economic situation, so that the procedures are not commensurate with the situations that have arisen and the goals that came To achieve ". 


He stressed that "the state of financial panic can undermine the monetary policy of its target if it occurs, the monetary authority should change its strategy in the event of a state of financial panic to ensure the integrity of the banking system and the flow of credit properly  
." Contractionary policy , said Dr. Thuwainy that "if there was the case of financial panic causes non - cash real reasons or expectations of individuals under a deflationary policy, that would hinder the application of monetary policy , " explaining that "should the monetary authority to follow an expansionary policy to avoid the aggravation of this situation to be "Financial panic can be mitigated by increasing operating or making the central bank's cash reserves readily available through the discount mechanism to provide liquidity to banks to handle withdrawals and then control the financial panic."
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  • yota691 changed the title to Central Bank: the rise in world oil prices and the decline of gold for the first quarter of 2018
 
Thursday 2 August
 
 
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Alsumaria News / Baghdad
, a report prepared by the Central Bank of Iraq on the global financial markets, rising global oil prices and the decline in gold prices in the first quarter of 2018. revealed 

, said the report, seen by Alsumaria News, said : "Oil prices rose in the first quarter of 2018 Where prices reached 74.64 dollars in March, up from 70.53 dollars on January 24, "noting that" the rise comes as part of the ongoing efforts to rebalance the oil markets by the Organization of Petroleum Exporting Countries and non-oil exporting countries. "

 

 


"The spot price of gold rose slightly in January 2018, but fell at the end of March as it recorded 1317.70 an ounce," the report said, noting that "the decline is due to fluctuations in changing the expectations of investors on the path taken by the Federal Reserve on its monetary policy During the current year. " 

The developments in the global financial markets in the first quarter of this year, the decline in the growth rate of GDP in the United States of America and its rise in Japan and China.

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Tamimi reveals the size of the surplus in the budget for the first half of this year

10:59 - 01/08/2018

 
image
 
 

Baghdad Mawazine News: 
A member of the Finance Committee of the former parliamentary Majida Tamimi, Wednesday, a surplus in the financial budget for the first half of this year. 
"The surplus amounts from the general budget for the year 2018 amounted to 7.5 trillion dinars in the past six months," Tamimi said in an interview on Wednesday. 
"Revenues from 2004 amounted to 873 billion dollars, of which 863 billion dollars were spent," she said. 
Tamimi revealed that "the total surplus during the first six months of the year 2018 amounted to 7.444 trillion dinars."
Tamimi pointed out that "the total amount of financing the current and investment budgets amounted to 35.029 trillion dinars, compared to the achievement of oil revenues and non-oil 42.576 trillion dinars, as the monthly rate of total revenue 7.096 trillion dinars, while the oil revenue per unit at a monthly average of 6.393 trillion dinars. 
She pointed out that "the average monthly spending of the budget amounted to 5.848 trillion dinars, thus the surplus monthly revenue achieved 1,247 trillion dinars." 
"Revenues from 2004 amounted to 873 billion dollars, of which 863 billion dollars were disbursed," it said. 
"Al-Tamimi's recent statement was a translation of the demands of the demonstrators," al-Tamimi said. "We have a complete program written by experts and our approach to the blocs comes according to the approach."
"There are no people in the world who demand water and electricity as the main demands of a country rich in wealth," she said, adding that "the current political parties, if they want to continue, change their approach." 
On the decision of the Prime Minister to withdraw the hand of the Minister of Electricity Qassim Fahdawi suspended Tamimi, who questioned the minister in the previous parliament that "in 2015, 86 financial violations against the Minister of Electricity." 
Ended 
m h n

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  • yota691 changed the title to Governor of the Central Bank: Iraq implemented all the recommendations of the International Labor Organization
 
4248.jpg
Governor of the Central Bank Ali Al-Alaq
  

 Banks


Economy News Baghdad:

The Governor of the Central Bank, Ali al-Alak, that Iraq has implemented all the recommendations of the International Financial Action Organization "FATF" of 44 recommendations, which moved from the follow-up area to the regular follow-up area, which is subject to other countries every two years, noting that Iraq ranks fourth Arab as the best Foreign currency reserve.

The governor of the Central Bank Ali Al-Alak was named the best central bank governor in the Arab world for 2018 by the Union of Arab Banks at the Arab Banking Summit held in Paris at the end of June. This was the result of his policies which contributed to saving monetary policy and fighting money laundering and terrorism. And inflation.

Al-Aalak said in an interview with "Economy News" that "the recent decision of the International Financial Action Organization to leave Iraq from the follow-up area to the regular follow-up area, which is subject to other countries every two years, has great domestic and international repercussions because it contributes to bridging the relationship between the banking sector And the International Financial Corporation, "noting that" the biggest risk to the banking and financial sector is the subject of money laundering and financing of terrorism and if we do not take international action, this makes global financial institutions cautious and reluctant or reluctant to deal with Iraq, which leads to significant risks to the work of the banking sector ".

He added that "Iraq today completed all the recommendations of the International Labor Organization, which are 44 recommendations and we were able to face all the challenges in the implementation of these recommendations," noting that "Iraq is currently in the stage of follow-up or international scrutiny of the work of the Central Bank and banks and government institutions to identify the strengths and weaknesses in Our work ".

Al-Aalak said that he was "briefed on the World Bank's 2012 report commissioned by the Financial Action Organization and contained 700 points indicating the existence of a flaw in all joints related to the subject of money laundering and the financing of terrorism." Terrorism and was able to move Iraq from the stage of danger to the stage of safety and exit from the black list and save the banking sector from the interruption of the outside world in financial transactions.

He pointed out that "the most important step we have taken is to legislate the AML / CFT law in a new format that takes into account all the developments in the money laundering and terrorist financing file, in accordance with international standards, which gave force to all Iraqi parties to abide by these rules, and does not oppose the laws legislated earlier "" Under the AML / CFT Act, the National Council for Combating Money Laundering and the Financing of Terrorism is a committee to freeze the assets of terrorist funds. "

He pointed out that "the Central Bank has formed several sections in banks, including compliance and risk management, which gives strength to the work of Iraqi banks in the fight against money laundering and financing of terrorism," explaining that "the main success indicator of our work is the diagnosis of cases of money laundering goes directly to the judiciary, The work of the system in general . "

"For the first time in the history of Iraq, there are dozens of cases referred to the judiciary on suspicion of money laundering and financing of terrorism, and there are several decisions issued freezing funds of terrorists and there are some issues for the first time to be included in the United Nations. Last year we had a meeting in the Security Council is the first Of its kind to put Iraq's strategy in the fight against money laundering. "

He pointed out that "the law of the Central Bank does not allow investment reserves existing at the Central Bank only in specific areas, because it stems from the philosophy of not exposing the reserves to any kind of risk on the one hand, on the other hand, the reserve must be always available such as current accounts .

He stressed that "Iraq's reserves are fully insured in accordance with the standards of the International Monetary Fund, and occupies Iraq ranked fourth in the Arab reserves of foreign currency," adding that "Iraq's foreign currency reserves growing day after day."

He pointed out that "there is no discrimination in Iraq between the reserves of the government and the Central Bank, as the government reserves differ from the reserves of the Central Bank, and the lack of distinction caused confusion in the citizen and the official, which reflected negatively on the financial policies," noting that "the biggest challenge facing Iraq is stability And his absence greatly affects investors and sustaining the economy, "he said." When stability is achieved, it will lead to the recovery of the banking sector and the central bank, and will also inspire investors to invest in the country. "


Views 12   Date Added 08/09/2018

 
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  • yota691 changed the title to CBI reveals its reserve of the dollar and gold
Release date: 2018/8/10 12:16 • 765 times read
CBI reveals its reserve of the dollar and gold
{Baghdad: Al-Furat News} The Central Bank of Iraq, Iraq's reserve of the dollar and gold.
"The Iraqi dinar today is supported by 58 billion dollars of hard currency reserves, and more than 89 tons of gold, all elements that strengthen its strength and maintain the stability of its exchange rate," said the director of the bank's press office, Acer Jabbar. 
He stressed that "the central bank - responsible for the organization of monetary and monetary policy in the country - is in the process of maintaining the exchange rate, it seeks to be Iraqi dinar stable and stable despite all the political and economic events in Iraq." 
Jabbar pointed out that "the bank has taken a number of important measures to maintain the exchange rate in the domestic market, the most prominent of which is the development of the work of the sale window of hard currency in the country."
"The window selling the currency is the window sold by the Central Bank of Iraq dollar for government and private banks, which in turn sell it to companies wishing to import hard currency or citizens wishing to travel abroad for the purposes of treatment or study and others. 
He explained that "the most important procedures to develop the work of the window is to follow the method of dealing directly with the documents provided by customers or traders who want to buy the dollar and check your strength and bills of goods to be imported to ensure the arrival of the dollar to the trader directly and eliminates the intermediary rings that were manipulating the exchange rate." 
He pointed out that "the trader was forced in the past to follow several steps to reach the dollar to import his goods, which opened the time for many to carry out bidding operations that lead to an increase in the exchange rate."
"The Bank has also succeeded in reducing money laundering, which is a reason for the fluctuation of the exchange rate as well as other security and economic risks," he said. "The success of Iraq in the fight against money laundering prompted the International Financial Task Force (FETF) Money laundering and terrorist financing to remove Iraq from the list of countries under control. " 
He pointed out that Iraq "has completed all the recommendations of the International Working Group and addressed the requirements of the strategy of combating money laundering and financing of terrorism in addition to enacting a law against money laundering and establishing the Anti-Money Laundering and Terrorism Financing Council".
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Governor of the Central Bank of «Economy News»: Iraq implemented all the recommendations of the International Labor Organization

4248.jpg

 

The Governor of the Central Bank, Ali al-Alak, that Iraq has implemented all the recommendations of the International Financial Action Organization "FATF" of 44 recommendations, which moved from the follow-up area to the regular follow-up area, which is subject to other countries every two years, noting that Iraq ranks fourth Arab as the best Foreign currency reserve.
The governor of the Central Bank Ali Al-Alak was named the best central bank governor in the Arab world for 2018 by the Union of Arab Banks at the Arab Banking Summit held in Paris at the end of June. This was the result of his policies which contributed to saving monetary policy and fighting money laundering and terrorism. And inflation.
Al-Aalak said in an interview with "Economy News" that "the recent decision of the International Financial Action Organization to leave Iraq from the follow-up area to the regular follow-up area, which is subject to other countries every two years, has great domestic and international repercussions because it contributes to bridging the relationship between the banking sector And the International Financial Corporation, "noting that" the biggest risk to the banking and financial sector is the subject of money laundering and financing of terrorism and if we do not take international action, this makes global financial institutions cautious and reluctant or reluctant to deal with Iraq, which leads to significant risks to the work of the banking sector ".
He added that "Iraq today completed all the recommendations of the International Labor Organization, which are 44 recommendations and we were able to face all the challenges in the implementation of these recommendations," noting that "Iraq is currently in the stage of follow-up or international scrutiny of the work of the Central Bank and banks and government institutions to identify the strengths and weaknesses in Our work ".
Al-Aalak said that he was "briefed on the World Bank's 2012 report commissioned by the Financial Action Organization and contained 700 points indicating the existence of a flaw in all joints related to the subject of money laundering and the financing of terrorism." Terrorism and was able to move Iraq from the stage of danger to the stage of safety and exit from the black list and save the banking sector from the interruption of the outside world in financial transactions.
He pointed out that "the most important step we have taken is to legislate the AML / CFT law in a new format that takes into account all the developments in the money laundering and terrorist financing file, in accordance with international standards, which gave force to all Iraqi parties to abide by these rules, and does not oppose the laws legislated earlier "" Under the AML / CFT Act, the National Council for Combating Money Laundering and the Financing of Terrorism is a committee to freeze the assets of terrorist funds. "
He pointed out that "the Central Bank has formed several sections in banks, including compliance and risk management, which gives strength to the work of Iraqi banks in the fight against money laundering and financing of terrorism," explaining that "the main success indicator of our work is the diagnosis of cases of money laundering goes directly to the judiciary, The work of the system in general . "
"For the first time in the history of Iraq, there are dozens of cases referred to the judiciary on suspicion of money laundering and financing of terrorism, and there are several decisions issued freezing funds of terrorists and there are some issues for the first time to be included in the United Nations. Last year we had a meeting in the Security Council is the first Of its kind to put Iraq's strategy in the fight against money laundering. "
He pointed out that "the law of the Central Bank does not allow investment reserves existing at the Central Bank only in specific areas, because it stems from the philosophy of not exposing the reserves to any kind of risk on the one hand, on the other hand, the reserve must be always available such as current accounts .
He stressed that "Iraq's reserves are fully insured in accordance with the standards of the International Monetary Fund, and occupies Iraq ranked fourth in the Arab reserves of foreign currency," adding that "Iraq's foreign currency reserves growing day after day."
He pointed out that "there is no discrimination in Iraq between the reserves of the government and the Central Bank, as the government reserves differ from the reserves of the Central Bank, and the lack of distinction caused confusion in the citizen and the official, which reflected negatively on the financial policies," noting that "the biggest challenge facing Iraq is stability And his absence greatly affects investors and sustaining the economy, "he said." When stability is achieved, it will lead to the recovery of the banking sector and the central bank, and will also inspire investors to invest in the country. "

 

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  • yota691 changed the title to Iraqi Dinar stable against US dollar years years of upheavals

Iraqi Dinar stable against US dollar years years of upheavals 10/08/2018 LOC13: 54 10:54 GMT  By Alaa Al-Huwaijel BAGHDAD, Aug 10 (KUNA) - In spite of all the political, security and economic crises that Iraq endured in the past five years, the Central Bank of Iraq (CBI) has succeeded in maintaining a steady exchange rate for the national currency against the US Dollar. At that period, Iraq lost land to the so-called Islamic State (IS) and what followed operations to liberty occupied territories have drained the treasury of the central bank. To add insult to injury, the recordable regression in oil prices was also a humongous challenge for the country rich in oil resources. Although the situation was bleak, the Iraqi Dinar's exchange rate steadied at 1,190 against one dollar, while prices in the local market ranged between 1,200 and 1,250 Iraqi Dinar for one dollar. The main reason for this stability was the steady production and exportation of Iraqi oil, which kept flowing in the world markets. Oil production even achieved a noticeable increase from approximately 2.5 million barrels per day during 2014 to 3.5 million barrels per day July, according to official data. Speaking on this matter, Iraqi economic counselor Mohammed Mathhar said in a statement to KUNA, that Iraq economy was powered by strong financial flows thatave it a relative overflow, which reflected positively on the dinar.  "The other factor that led to this stability is the increase of the central bank's stocks of the dollar which went up from 41 billion dollars to 58 billion dollars within the last few months only, covering 15 months of import whereas the world criterion determinates 3 months of importation, "he added.  (end) ahh.mk.bb

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24 minutes ago, yota691 said:

Iraqi Dinar stable against US dollar years years of upheavals 10/08/2018 LOC13: 54 10:54 GMT  By Alaa Al-Huwaijel BAGHDAD, Aug 10 (KUNA) - In spite of all the political, security and economic crises that Iraq endured in the past five years, the Central Bank of Iraq (CBI) has succeeded in maintaining a steady exchange rate for the national currency against the US Dollar. At that period, Iraq lost land to the so-called Islamic State (IS) and what followed operations to liberty occupied territories have drained the treasury of the central bank. To add insult to injury, the recordable regression in oil prices was also a humongous challenge for the country rich in oil resources. Although the situation was bleak, the Iraqi Dinar's exchange rate steadied at 1,190 against one dollar, while prices in the local market ranged between 1,200 and 1,250 Iraqi Dinar for one dollar. The main reason for this stability was the steady production and exportation of Iraqi oil, which kept flowing in the world markets. Oil production even achieved a noticeable increase from approximately 2.5 million barrels per day during 2014 to 3.5 million barrels per day July, according to official data. Speaking on this matter, Iraqi economic counselor Mohammed Mathhar said in a statement to KUNA, that Iraq economy was powered by strong financial flows thatave it a relative overflow, which reflected positively on the dinar.  "The other factor that led to this stability is the increase of the central bank's stocks of the dollar which went up from 41 billion dollars to 58 billion dollars within the last few months only, covering 15 months of import whereas the world criterion determinates 3 months of importation, "he added.  (end) ahh.mk.bb

Positive news. 

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4 hours ago, yota691 said:

Iraqi Dinar stable against US dollar years years of upheavals 10/08/2018 LOC13: 54 10:54 GMT  By Alaa Al-Huwaijel BAGHDAD, Aug 10 (KUNA) - In spite of all the political, security and economic crises that Iraq endured in the past five years, the Central Bank of Iraq (CBI) has succeeded in maintaining a steady exchange rate for the national currency against the US Dollar. At that period, Iraq lost land to the so-called Islamic State (IS) and what followed operations to liberty occupied territories have drained the treasury of the central bank. To add insult to injury, the recordable regression in oil prices was also a humongous challenge for the country rich in oil resources. Although the situation was bleak, the Iraqi Dinar's exchange rate steadied at 1,190 against one dollar, while prices in the local market ranged between 1,200 and 1,250 Iraqi Dinar for one dollar. The main reason for this stability was the steady production and exportation of Iraqi oil, which kept flowing in the world markets. Oil production even achieved a noticeable increase from approximately 2.5 million barrels per day during 2014 to 3.5 million barrels per day July, according to official data. Speaking on this matter, Iraqi economic counselor Mohammed Mathhar said in a statement to KUNA, that Iraq economy was powered by strong financial flows thatave it a relative overflow, which reflected positively on the dinar.  "The other factor that led to this stability is the increase of the central bank's stocks of the dollar which went up from 41 billion dollars to 58 billion dollars within the last few months only, covering 15 months of import whereas the world criterion determinates 3 months of importation, "he added.  (end) ahh.mk.bb

Thanks Yota, The CBI has been doing the right thing.

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Saleh: The rise of strategic reserves of foreign currency to 58 billion dollars

Saleh: The rise of strategic reserves of foreign currency to 58 billion dollars
Last updated: 11 August 2018 - 12:54 PM

 BAGHDAD (Reuters) - Prime Minister Mohammed Saleh's appearance on Saturday showed "strong financial flows" supporting the Iraqi economy, pointing to the rise of strategic reserves from hard currency to $ 58 billion.  Saleh said in a press statement that "the other factor that supported the stability of the Iraqi currency is the growing reserves of the Central Bank of foreign currency, which rose in the last ten months only from 41 billion dollars to 58 billion dollars,  which covers 15 months Estrada while the scale does not require Global only three months import only. "  The economic adviser to the Prime Minister, "the policy of the Central Bank of Iraq, which was able to use its reserves of hard currency in defense of the stability of the Iraqi dinar exchange rate in a rational and smart in difficult circumstances." "Although monetary policies are often short-term, the central bank's policy in the foreseeable future is strong, stable, highly transparent and always intervening in the market," he said, expressing confidence in the future of the Iraqi dinar. "The dinar will remain strong. And there will be a balance between the exchange rate and maintain the limits set within the green lines of the reserves of the fundamental Iraqi dinar. 

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http://alforatnews.com/modules/news/article.php?storyid=17199

(Not sure if its posted already..if yes please delete thanks)

 


{Baghdad: Al-Furat News} The Central Bank of Iraq, Iraq's reserve of the dollar and gold.
"The Iraqi dinar today is supported by 58 billion dollars of hard currency reserves, and more than 89 tons of gold, all elements that strengthen its strength and maintain the stability of its exchange rate," said the director of the bank's press office, Acer Jabbar.
He stressed that "the central bank - responsible for the organization of monetary and monetary policy in the country - is in the process of maintaining the exchange rate, it seeks to be Iraqi dinar stable and stable despite all the political and economic events in Iraq."
Jabbar pointed out that "the bank has taken a number of important measures to maintain the exchange rate in the domestic market, the most prominent of which is the development of the work of the sale window of hard currency in the country.""The window selling the currency is the window sold by the Central Bank of Iraq dollar for government and private banks, which in turn sell it to companies wishing to import hard currency or citizens wishing to travel abroad for the purposes of treatment or study and others.
He explained that "the most important procedures to develop the work of the window is to follow the method of dealing directly with the documents provided by customers or traders who want to buy the dollar and check your strength and bills of goods to be imported to ensure the arrival of the dollar to the trader directly and eliminates the intermediary rings that were manipulating the exchange rate."
He pointed out that "the trader was forced in the past to follow several steps to reach the dollar to import his goods, which opened the time for many to carry out bidding operations that lead to an increase in the exchange rate." The Bank has also succeeded in reducing money laundering, which is a reason for the fluctuation of the exchange rate as well as other security and economic risks," he said. "The success of Iraq in the fight against money laundering prompted the International Financial Task Force (FETF) Money laundering and terrorist financing to remove Iraq from the list of countries under control. "
He pointed out that Iraq "has completed all the recommendations of the International Working Group and addressed the requirements of the strategy of combating money laundering and financing of terrorism in addition to enacting a law against money laundering and establishing the Anti-Money Laundering Council


 

story_img_5b6d57fd0ffd8.jpg

Edited by 6ly410
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  • yota691 changed the title to Iraq's reserves and protection

Iraq's reserves and protection

   
 

 
 

Author: Dr. The appearance of Mohammed Saleh

19/8/2018 12:00 am

The protection and stability of Iraq's foreign reserves and diversification and ensure its liquidity at the same time is one of the main objectives in managing the risk of central bank portfolios within the criteria of adequacy of  
reserves. 
The low yield and high liquidity of assets or assets that can be converted into cash immediately without loss as short-term treasury bonds and other sovereign financial instruments are preferred rather than investing in high-yielding assets with low liquidity and high risk to ensure the effectiveness of monetary policy in addressing the liquidity risk of the economy. And provide the stability of the national currency against volatile balance of payments and sudden external shocks.
 One of the reasons for the Southeast Asian crisis of the 1990s was that Asian central banks invested in US-style financial options and hard-to-liquid derivatives in futures markets, making foreign currency liquidity more difficult to meet the risk of current account volatility for their balance of payments at 
that time  . 
While its governor showed the availability of efficient and liquid assets (in terms of formality only). In fact, the assets of its portfolios were weak due to high risks in the pursuit of return and great risks in its liquidity. Therefore, the IMF adopted a sound and safe investment evidence method to guide its central banks in Manage its reserves of foreign currency easily and efficiently and avoid high liquidity risks.
Thus, part of the reserves of the Iraqi Central Bank and part of the tributaries of the general budget of oil revenues are invested safely under the revised investment guide and agreed on its principles with the International Monetary Fund more than twelve years ago within the policy of diversification of the portfolio to obtain appropriate returns, With the highest AAA credit rating.
As far as Iraq's financial history is concerned since 2003, it should be noted that Security Council Resolution 1483 of May 2003 obliged Iraq to open an OPRA deposit account at the US Federal Reserve or Federal Reserve in New York, a central mechanism for deducting compensation for the Kuwait war, Even today, as it is still practiced against Iraq, unfortunately, the measures of Chapter VII of the Charter of the United Nations, even if shy or non-apparent until the extinguished compensation Kuwait's full war, which left less than less than 4.5 billion  
dollars. 
I find myself in this arbitrary and unmatched against the interests of the Iraqi people wounded, either the reserves of the Central Bank of Iraq deposited or invested in the Federal Bank and the subject of protection from the procedures of judicial arrest or freezing., It is useful to mention but not limited to one of the  judicial facts 
:
The federal court in New York State has dismissed a lawsuit against money belonging to the Argentine Central Bank years ago because the money is non-commercial and performs the function of stability and belongs to a central bank whose law refers to  
independence. 
The same situation is supposed to apply in applying its legal standards to the funds of the Central Bank of Iraq as long as the country's money is deposited in a banking institution that also performs the function of the central bank and carries the same stability objectives. Nevertheless, we must avoid the political risks with the host country 
 .
The risk of collisions in the United States (from my personal point of view) bears a harsh and bitter historical experience in Iraq's financial history. Former US President Bush and then President Oboma until 2013 were precisely giving the CBI accounts (including Iraqi government deposits implicitly in his name) and for a decade Immunity is an executive order issued annually based on 
 US emergency laws . 
However, everything may be necessary to avoid legal risks under the application of alternative ego and expose the reserves of the Central Bank to the risk of freezing acting on behalf of the Republic, God forbid.
In the 1990s, Iraq was subjected to such harmful legal practices adopted by the courts in the Jurisdiction areas of Europe and elsewhere. It was very damaging to the Iraqi people. Therefore, I find wisdom and reason to avoid conflict or engage in the risk of colliding with the interests of the United States. And able to do something harmful and then it is easy to put the problems on the shoulders of the Iraqi people and the poor masses, the wounds of the siege of the nineties has not yet healed and accompanied by four consecutive decades of economic and social development  
lost.
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$ 58.7 billion of Iraq's hard currency reserves and 89 tons of gold

%D9%85%D8%AD%D9%85%D9%88%D8%AF-%D9%85%D8%AD%D9%85%D8%AF-%D8%AF%D8%A7%D8%BA%D8%B1.jpg

 


Director General of the financial operations of the Central Bank's "New Morning": 
Baghdad - Sami Hassan 
announced general manager of financial operations and debt management , Dr. Mahmoud Mohamed Dagher that Iraq 's reserves of hard currency amounted to $ 58.7 billion, indicating that the "net central bank reserves of 48.3 billion "The bank reserves of 48.3 billion dollars distributed to eight countries to preserve the risks and comes in the forefront of the United States, Switzerland, France and Britain, and distributed these reserves on several types, including cash, bonds and gold" , He said Z "Iraq has 89 tons of gold deposited in London." Dagher said in an interview with him yesterday morning that "it is natural that all countries of the world retain financial assets, bonds and remittances, especially the US because it is high rating reliable and easy compared to other assets"

 

"In the royal country, the orders issued by changing their class are executed. We may have a dollar bond and can be changed to bonds in GBP, Euro, or Japanese Yen," the general manager said in response to a question asked by the editor of the newspaper, "We have US deposits in dollars. All these items are ours." Dr. Dagher explained that the citizen has the right to replace the local currency (dinar) in the US dollar (dollar) through the window of the currency, which was called (currency auction) To finance the process To import this thing in place in all countries of the world, because the government alone has the dollar from oil exports, and in return is pulled dinar to pay salaries and project finance in the reconstruction and construction, agriculture and industry sectors.

 

He pointed out that the Iraqi citizen can now travel for treatment or rest and recreation or even the acquisition of housing .. All this through the replacement of the national currency in foreign currency in the case of any citizen in any country in the world, while this was prohibited in the time of the former regime. The Director General pointed out that we have funded the projects through banks, and here was the inability of contractors to pay the loans granted to them, because the government originally did not meet their obligations to them and did not pay the amount of the value of these projects and thus the deficit appeared, but the government caught it and began to pay what Its capacity for contractors in 2017.

 

And the deletion of the three zeros of the Iraqi currency, Dr. Dagher replied that this issue, purely technical and has nothing to do with the rise or fall of prices, and we are in the form of coins in our future projects, although it is high cost, but it is longer in circulation, The central bank will inject 250 to 500 dinars of paper money into the local market in quantities that eliminate the existing health to be available to the citizen to trade.

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  • yota691 changed the title to $ 58.7 billion of Iraq's hard currency reserves and 89 tons of gold

Thanks DWS112, great article!  I'm pondering over this statement:

 

And the deletion of the three zeros of the Iraqi currency, Dr. Dagher replied that this issue, purely technical and has nothing to do with the rise or fall of prices, and we are in the form of coins in our future projects, although it is high cost, but it is longer in circulation,

 

They are definitely going to have to add value to move to coins.  It's the prices that have me wondering!

 

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Iraq's reserves and protection ...!

8/19/2018 9:40:34 AM

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1982018939200_Dr.-Mudher-2.png

Appearance of Mohammed Saleh

 

 


The protection and stability of Iraq's foreign reserves and diversification and ensure its liquidity at the same time is one of the main objectives in managing the risk of central bank portfolios within the criteria of adequacy of reserves. The low yield and high liquidity of assets or assets that can be converted into cash immediately without loss as short-term treasury bonds and other sovereign financial instruments are preferred rather than investing in high-yielding assets with low liquidity and high risk to ensure the effectiveness of monetary policy in addressing the liquidity risk of the economy. And provide the stability of the national currency against volatile balance of payments and sudden external shocks. One of the causes of the Southeast Asian crisis of the 1990s was the establishment of a state
Asian central banks have invested in US-style financial options and derivatives in the futures markets, making it harder to provide foreign currency liquidity immediately to counter the risk of current account volatility for their balance of payments at the time. While its governor showed the availability of efficient and liquid assets (in terms of formality only). In fact, the assets of its portfolios were weak due to high risks in the pursuit of return and great risks in its liquidity. Therefore, the IMF adopted a sound and safe investment evidence method to guide its central banks in Manage its reserves of foreign currency easily and efficiently and avoid high liquidity risks.

Thus, part of the reserves of the Iraqi Central Bank and part of the tributaries of the general budget of oil revenues are invested in a safe form under the amended investment guide and agreed on its principles with the IMF more than twelve years ago within the policy of diversification of the portfolio to obtain appropriate returns, It is important to note that Security Council Resolution 1483 of May 2003 obligates Iraq to open an account of oil deposits called OPRA in the Reserve Bank or the Federal Bank of Iraq In New York, a central mechanism for deducting compensation for the war in Kuwait, which is the mechanism that has been in place until today, as it is still practiced against Iraq, unfortunately, the procedures of Chapter VII of the Charter of the United Nations, even shy or non-apparent until the extinguishment of compensation of the full war of Kuwait, Less than $ 4.5 billion.
The Federal Court in New York State has rejected a lawsuit against the Argentine central bank years ago because the money is non-commercial and performs the function of stability and belongs to a central bank whose law refers to independence. The same case is supposed to apply in the application of legal standards on funds The Central Bank of Iraq as long as the country's money deposited in a banking institution also exercises the function of the Central Bank and bear the same objectives of stability. Nevertheless, we should avoid political risks with the host country. The risk of collisions with the United States (in my own view) bears a bitter and bitter historical experience in Iraq's financial history. Former US President Bush and then President Oboma until 2013 were specifically granting the CBI accounts (including Iraqi government deposits open in his name implicitly) and over a decade of immunity under an executive order issued annually on the basis of US emergency laws. All that is permissible is that it is necessary to avoid the possibility of legal risk under the application of the alternative self-alter ego and expose the reserves of the Central Bank to the risks of freezing acting on the Republic, not God's mercy. Before Iraq to be exposed in the nineties to such harmful legal practices adopted by Km in the jurisdiction areas of jurisdiction and other European and was severe damage to the Iraqi people.

 

http://www.nrttv.com/AR/birura-details.aspx?authorid=125&Articleid=261

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20 minutes ago, DWS112 said:

The central bank will inject 250 to 500 dinars of paper money into the local market in quantities that eliminate the existing health to be available to the citizen to trade.

 

IMO  I think here we have the answer to what is the launch of the small categories they were clamoring about the other day in the articles , injecting more of the current small notes ....  the 58 billion cbi reservers is getting to the level shabibi would maintain the bank at before maliki starting his corruption campaign / plan ... cheers 

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The Central Bank of Iraq as long as the country's money deposited in a banking institution also exercises the function of the Central Bank and bear the same objectives of stability. Nevertheless, we should avoid political risks with the host country. The risk of collisions with the United States (in my own view) bears a bitter and bitter historical experience in Iraq's financial history. Former US President Bush and then President Oboma until 2013 were specifically granting the CBI accounts (including Iraqi government deposits open in his name implicitly) and over a decade of immunity under an executive order issued annually on the basis of US emergency laws. All that is permissible is that it is necessary to avoid the possibility of legal risk under the application of the alternative self-alter ego and expose the reserves of the Central Bank to the risks of freezing acting on the Republic, not God's mercy. Before Iraq to be exposed in the nineties to such harmful legal practices adopted by Km in the jurisdiction areas of jurisdiction and other European and was severe damage to the Iraqi people.

 

 

 

 

STATEMENTS & RELEASES

Presidential Message to the Congress of the United States

 FOREIGN POLICY

 

 Issued on: May 18, 2018

SHARE:

 

 

ALL NEWS

Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, within 90 days before the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date.  In accordance with this provision, I have sent to the Federal Register for publication the enclosed notice stating that the national emergency with respect to the stabilization of Iraq that was declared in Executive Order 13303 of May 22, 2003, is to continue in effect beyond May 22, 2018.

Obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.  Therefore, I have determined that it is necessary to continue the national emergency with respect to the stabilization of Iraq.

 

DONALD J. TRUMP

https://www.whitehouse.gov/briefings-statements/presidential-message-congress-united-states-11/

 

Y'all just letting you know I just realized the connection between 13303 and the reason Iraq does not move from IMF article XIV to article VIII.  Iraq still enjoys the protection of it's reserves from international liability.  Even if Iraq does increase the value of their currency unless it becomes ingternationally traded we will not profit.

Edited by Butifldrm
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10 hours ago, yota691 said:

Thus, part of the reserves of the Iraqi Central Bank and part of the tributaries of the general budget of oil revenues are invested safely under the revised investment guide and agreed on its principles with the International Monetary Fund more than twelve years ago within the policy of diversification of the portfolio to obtain appropriate returns, With the highest AAA credit rating.

 

The AAA rating appears to be an IMF rating of the Iraqi Central Bank and may not be related in any way to a Fitch, Moody's, or Standard and Poors International Credit Rating but may suggest a level of fiscal responsibility albeit under the guidance of the US Treasury and Federal Reserve.

 

I do think this is good news, though!!!

 

Go Moola Nova!

:pirateship:

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I had to translate in Bing to make sure I was right. 

 

Iraq's reserves and protection...!

 

8/19/2018 9:40:34 AM 13742

1982018939200_Dr.-Mudher-2.png

 

Watch Mohamed Saleh's appearance

 

 

The protection and stability of Iraq's foreign reserves, its diversification and the simultaneous safeguarding of its liquidity are one of the main objectives in managing the risks of the central bank governor within the standards of adequacy of reserves. The low returns and high liquidity of assets or asset that can be converted into cash immediately are preferred without loss, such as short-term Treasury bonds and other sovereign financial investment instruments, rather than investing in high-yielding, low-liquidity assets with high risks to ensure the effective functioning Monetary policy to address the risks of liquidity of the economy and to provide stability of the national currency against volatile balance of payments and sudden external shocks. One of the reasons for the south-East Asian crisis of the 1990s was the fact that
Asian Central Banks invest in American-style financial options and hard-to-operate derivatives in futures markets, making it even more difficult to provide foreign currency liquidity immediately to meet the risk of the current account fluctuation of their balance of payments at that time. While its portfolios have demonstrated the availability of efficient assets (in formal terms only) but in fact their portfolios have been poorly liquify because of their high risk in the search for the return and significant risks in their liquidity, and the IMF has therefore adopted a sober and secure investment guides approach to Its central banks are guided by their foreign exchange reserves with great ease and efficiency and avoid liquidity risk.

Thus, an aspect of the central Bank of Iraq's reserves and part of the general budget streams of oil revenues is being invested securely under the amended Investment Guide and its principles agreed with the International Monetary Fund (IMF) more than a dozen years ago within the portfolio diversification policy to obtain returns Occasion such as sovereign American bonds with a high credit rating of AAA. The financial history of Iraq has been estimated since 2003 and it must be noted that Security Council resolution 1483 of May 2003 obliged Iraq to open an oil receipts account called Opra in the Reserve Bank or The American federal in New York is a central mechanism for the deduction of Kuwait's war reparations and it is the mechanism that has been in place to date, as the actions of Chapter VII of the Charter of the United Nations, albeit in a timid or non-ostensible manner, continue to be practised against Iraq, regrettably, until the full-fledged Kuwait war reparations are extinguished Only less than 4.5 billion dollars. I personally find this an unparalleled arbitrariness against the interests of the wounded Iraqi people. The reserves of the central Bank of Iraq which are deposited or invested in the federal bank and are protected from the procedure of judicial arrest or freezing., it is useful to mention but not limited to one of the judicial facts :
The Federal Court of the State of New York had previously dismissed a lawsuit against funds belonging to the Central Bank of Argentina years earlier, since those funds were non-commercial and performed the stabilizing function and belonged to a central bank whose law referred to independence. The same situation is supposed to apply in the calibration application The funds of the Central Bank of Iraq as long as the country's funds are held in a banking institution which also exercises the central bank function and carries the same stability objectives. Nevertheless, we must not forget and avoid political risks with the host State. The risk of collision in the United States (from my personal point of view) carries a harsh and bitter historical experience in Iraq's financial history. Former United States President Bush, followed by President Oboao to 2013, had specifically given the accounts of the Central Bank of Iraq (including the deposits of the Government of Iraq open on his behalf) and over a decade, legal immunity immunity by Executive Order issued annually on the basis To the laws of the United States. However, it is permissible to avoid legal risks under the application of the alternative self-rule of alter ego and to expose the central bank's reserves to the risks of freezing on behalf of the Republic. Iraq has been exposed to such practices during the 1990s Harmful legal decisions adopted by the courts in the jurisdiction and other areas of the European and other jurisdictions were extremely damaging to the Iraqi people. So I find it wise and mind to avoid conflict or enter into a collision risk with the interests of the United States as a large country occupied Iraq and dropped the former regime and able To do something hurtful. It would therefore be easier for them to aim at the problems of the Iraqi people and their impoverished masses. The wounds of the 1990s have not yet been heal and have been accompanied by four successive decades of lost economic and social development.

http://www.nrttv.com/AR/birura-details.aspx?authorid=125&Articleid=261

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24 minutes ago, Butifldrm said:

The Central Bank of Iraq as long as the country's money deposited in a banking institution also exercises the function of the Central Bank and bear the same objectives of stability. Nevertheless, we should avoid political risks with the host country. The risk of collisions with the United States (in my own view) bears a bitter and bitter historical experience in Iraq's financial history. Former US President Bush and then President Oboma until 2013 were specifically granting the CBI accounts (including Iraqi government deposits open in his name implicitly) and over a decade of immunity under an executive order issued annually on the basis of US emergency laws. All that is permissible is that it is necessary to avoid the possibility of legal risk under the application of the alternative self-alter ego and expose the reserves of the Central Bank to the risks of freezing acting on the Republic, not God's mercy. Before Iraq to be exposed in the nineties to such harmful legal practices adopted by Km in the jurisdiction areas of jurisdiction and other European and was severe damage to the Iraqi people.

 

 

 

 

STATEMENTS & RELEASES

Presidential Message to the Congress of the United States

 FOREIGN POLICY

 

 Issued on: May 18, 2018

SHARE:

 

 

ALL NEWS

Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, within 90 days before the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date.  In accordance with this provision, I have sent to the Federal Register for publication the enclosed notice stating that the national emergency with respect to the stabilization of Iraq that was declared in Executive Order 13303 of May 22, 2003, is to continue in effect beyond May 22, 2018.

Obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States.  Therefore, I have determined that it is necessary to continue the national emergency with respect to the stabilization of Iraq.

 

DONALD J. TRUMP

https://www.whitehouse.gov/briefings-statements/presidential-message-congress-united-states-11/

 

Y'all just letting you know I just realized the connection between 13303 and the reason Iraq does not move from IMF article XIV to article VIII.  Iraq still enjoys the protection of it's reserves from international liability.  Even if Iraq does increase the value of their currency unless it becomes ingternationally traded we will not profit.

 

You are amazing Butifldrm     :twothumbs:   :woot:  

 

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1 hour ago, Butifldrm said:

And the deletion of the three zeros of the Iraqi currency, Dr. Dagher replied that this issue, purely technical and has nothing to do with the rise or fall of prices, and we are in the form of coins in our future projects, although it is high cost, but it is longer in circulation,

 

 Not sure why the "technical" term, but glad to see they are talking about COINS! 💰

Edited by DWS112
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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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