Search the Community
Showing results for tags 'new currency'.
-
Have you seen this before? I came across this image of a 10 dinar note while browsing older articles. This image is from a Sept 2018 article about "The Central Bank of Iraq outside the European sanctions". Maybe I just need my evening coffee now. "Presented papers approved by the Central Bank of Iraq" The Central Bank of Iraq outside the European sanctions September 13, 2018 - 13:18 Abu Dhabi time Abu Dhabi - Sky News Arabic Iraq's central bank announced on Thursday that it was officially removed from the list of sanctions imposed by the European Union under Saddam Hussein. The Brussels move, published in the European Union's official newspaper, confirmed the cancellation of sanctions imposed on the bank under the former regime, the bank said in a statement. The European sanctions provide for "the prohibition of dealing with a group of Iraqi financial and non-financial institutions, including the Central Bank of Iraq." The Central Bank of Iraq that this development came, after making significant progress in improving the performance and application of international regulations and standards in the banking field. He added: "Under these recent amendments will allow the international financial banking institutions to deal with the Central Bank of Iraq, according to the new instructions, because it has become a reliable financial institutions to deal with European institutions."
-
15/02/2015 Iraq buys 48 tonnes of gold Leila Ahmed Announced the World Gold Council (WGC) for the purchase of the Central Bank of Iraq's 48 tonnes of gold during 2014, bringing the Iraq reserves of gold material and contribute to the diversification of its reserves. In an interview with Radio Free Iraq, the economic advisor to Prime Wazzramzar Mohammed Saleh importance that Iraq diversify its reserves of gold and the dollar so that the cover of the Iraqi currency, pointing at the same time that the states do not prefer gold much of the difficulty of his investment and the cost of flooring that paid for the country equipped fees. Saleh pointed out that gold typically constitute 6% of central bank reserves of hard currency, noting that "48 tonnes of gold at the moment, a gold in the bank the amount is sufficient and commensurate with the hard currency reserves." It is believed a member of the Parliamentary Finance Committee MP Ahmed Rasheed flesh to buy this amount of gold may be used by the central bank as a cover for the new currency, which purports Bank issued and is also used as a cover for the process of deletion of zeros from the Iraqi currency. Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material. To that count economist Bassem Jamil Antoine purchase this large gold "good gesture to diversify currency amounts and not limited balances at the central bank on the dollar only", pointing out that gold is one of the balances guarantor of the Iraqi economy, which contribute to maintaining the value of the Iraqi dinar . The CBI had announced in 2013, on his quest to find a balanced ratio of gold with hard currency reserves, saying that as the size of the reserve increases less than the contribution of the other ingredients. It is noteworthy that the International Monetary Fund said in 2012 that Iraq had boosted its gold reserves to reach more than 31 tons, explaining that Iraq bought 23.9 tons of gold in the month of August of the same year.