Progress of development policies Institute is hosting tomorrow's central bank governor to discuss monetary policy

[yota691]

Progress of development policies Institute is hosting tomorrow's central bank governor to discuss monetary policy

History of edits:: 2015/11/27 14:15 • 374 visits readable

[baghdad-where] 
the progress of development policies Institute hosts on Saturday Governor of the Central Bank for the purpose of discussing monetary policy.

According to a statement of the Institute received by all of Iraq [where] a copy of it "will be hosting the Governor of the Central Bank on the Keywords tomorrow in the Institute building at 10:30 am to talk about monetary policy and the reserve is located, and other files related." 
He added that the symposium which will join the elite of finance and economy experts. finish

 

[Flamtap]

Extremely nice!

[yota691]

Extremely nice!

This was Yesterday News..and GM Flamtap and all of DV...

[Laid Back]

CBI knows that s time to give real value to the dinar. I believe we are moving on that direction.!

Go CBI

Go dinar

Go increase exchange rate

[tlars brother]

IF anyone thinks that the results of this meeting are going to reveal anything other than "its not time, we have this problem and that problem etc. etc" --then I have some oceanfront property in Oklahoma to sell you.

 

There is no way this group of local folks has any say so whatsoever on the monetary policy.  While I think we are extremely close to this being over, this meeting's results will not say anything of value, and most likely will produce the 4th big smoke article of the week...which should tell you something in and of itself.

[davis411]

god i hope so,

[Flamtap]

Thank you Yota and keep up the good work. You are certainly appreciated here.

[sandfly]

THANKS

[yota691]

Central Bank: the law allows the imposition of fines on offending banks to the instructions

 

Saturday November 28, 2015 17:20

 

 

 

         

 

 

 

 

 

Alsumaria News / Baghdad 

The Central Bank of Iraq, Saturday, to impose fines on banks for violation of instructions worth 400 billion dinars, stressing that the Bank Act authorizes the imposition of fines on banks that are contrary to his instructions.

 

The governor of the bank on the Keywords in a symposium on monetary policy in Iraq was held at the Institute of the progress of financial policies in Baghdad, attended by Alsumaria News, "The Bank Act authorizes the imposition of fines on banks that are contrary to his instructions," noting that "the amounts that were imposed on these banks amounted to 400 billion dinars. "

 

 

Keywords He added that "80%, which is estimated at 40 banks out of 50 private banks were having problems in relation to the purchase of foreign currency from the central bank before placing conditions and new instructions in 2012 for the sale and purchase of currencies", noting that "these problems relate to the fact that their documents incomplete or false. "

 

He continued that "certain transactions not only problematic, but the documents related to suspicions of money laundering and has forwarded to eradicate," pointing to "the existence of a cooperation agreement between the Central Bank of Iraq and Jordan in this regard."

 

The Keywords announced in the third of last March that the new regulations set by the Bank is that the auction is no longer a daily window of operations for the sale of currency auctions, pointing out that the new mechanisms developed to sell this currency especially that of its functions to provide currency for foreign trade.

 

[yota691]

Central Bank puts the mechanics of action to ensure the stability of the exchange rate and prevent speculation

Wrote: November 29, 2015

Central Bank of Iraq, announced on Sunday, for his quest to enact legislation to protect the decision-makers of the accusations, stressing continuity in the working mechanisms to ensure exchange rate stability in the markets.

The governor of the bank on the Keywords in a statement on the sidelines of a meeting with a large number of academics and relevant experts on international reserves and window sale of foreign currency at the central bank, that the meeting of the meeting was to face questioning random and the accusations made against the work of the Central Bank by some of the non-professionals, which campaigns It found its way into the media and involved a great deal of inaccuracies and misunderstandings, and may entail negative effects on the stability of the market and investor expectations, which could be extended to damage to the financial and banking transactions at home and abroad.

He added that "the meeting took a series of recommendations, including work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank of the charges and conjectures that are harmful to their reputation and the reputation of their institution ancient and issued by some parties, either because of ignorance, or political self-interest motives ,. and give them legal immunity enjoyed by their counterparts in the world's central banks. "

"The recommendations approved the continuation of the central bank in its direction and working mechanisms to ensure exchange rate stability, and to prevent speculation, and the removal of the big differences from the official price, and the adoption of full transparency in sales by selling the currency window", adding that "Among other recommendations adoption The study submitted by the governor, as a general framework for the work of the Central Bank and the options available to him, and distributed to professionals and the media in order to shed light on the facts, and dispel the image blur on the work of the Central Bank mechanisms. "

 

Read more: http://dinarvets.com/forums/index.php?/topic/212059-central-bank-puts-the-mechanics-of-action-to-ensure-the-stability-of-the-exchange-rate-and-prevent-speculation/#ixzz3ssfqL3oc

 

The central bank seeks to fortify himself against the "ignorant" and "political interests"

Sunday 29-11-2015 | 1:25:23

 

 

 

 

 

 

 

 

XYZ

Twilight News Central Bank of Iraq / announced on Sunday that he was seeking to enact legislation decision-makers at the bank granting legal immunity enjoyed by their counterparts in the world's central banks.

The governor of the bank on the Keywords in a meeting with a large number of academics and relevant experts on international reserves and window sale of foreign currency at the central bank, said the meeting came to face the random and the accusations made against the work of the Central Bank by some of the non-professionals, which found its way to discredit campaigns media.

He said, according to a statement of the bank responded to Twilight News, that these campaigns involved a great deal of inaccuracies and misunderstandings, and may entail negative effects on the stability of the market and investor expectations, which could be extended to damage to the financial and banking transactions at home and abroad.

He Keywords that "the meeting took a series of recommendations, including work to enact clear legislation that unambiguously to protect the decision-makers and those with the powers of the employees of the Central Bank of the charges and conjectures that are harmful to their reputation and the reputation of their institution ancient and issued by some parties, either because of ignorance or politically motivated and self-interest, and give them legal immunity enjoyed by their counterparts in the world's central banks. "

He Keywords that "the recommendations approved the continuation of the central bank in its direction and working mechanisms to ensure exchange rate stability, and to prevent speculation, and the removal of the big differences from the official price, and the adoption of full transparency in the sell-through window sell the currency."

He noted that "among other adoption of the study presented by the governor of the recommendations, as a general framework for the work of the Central Bank and the options available to him, and distributed to professionals and the media in order to shed light on the facts, and dispel the image blur on the work of the Central Bank mechanisms."

[yota691]

11/29/2015 (00:01 pm)   -   the number of readings: 133   -  number (3514)

 

 

Central announce the imposition of fines for violation banks

Baghdad / term 
 

The Central Bank of Iraq, on Saturday, for the imposition of fines on banks for violation of instructions worth 400 billion dinars, stressing that the Bank Act authorizes the imposition of fines on banks that are contrary to his instructions.

The governor of the bank on the Keywords in a symposium on monetary policy in Iraq was held at the Institute of the progress of financial policies in Baghdad, attended by local media and followed up the "long", "The Bank Act authorizes the imposition of fines on banks that are contrary to his instructions ', noting that' the amounts imposed on these banks amounted to 400 billion dinars. 
"Keywords and added that the '80%, which is estimated at 40 banks out of 50 private banks were having problems in relation to the purchase of foreign currency from the central bank before placing conditions and new instructions in 2012 for the sale and purchase of currencies' noting that 'these problems relate to the fact that the documents incomplete or false. 
"He continued that" certain transactions not only problematic documents related to, but suspicions of money laundering and has forwarded to eliminate', pointing to 'the existence of a cooperation agreement between the Central Bank of Iraq and Jordan in this regard. "

 

[gregp]

It sounds like they are preparing to go international. 

[yota691]

11/28/2015 19:32

Central announce the imposition of fines on offending banks

 

 

 

 

BAGHDAD / Obelisk: The Central Bank of Iraq, Saturday, to impose fines on banks for violation of instructions worth 400 billion dinars, stressing that the Bank Act authorizes the imposition of fines on banks that are contrary to his instructions.

The governor of the bank on the Keywords in a symposium on monetary policy in Iraq was held at the Institute of the progress of financial policies in Baghdad, attended by local media and followed up 'Obelisk', that 'the Bank Act authorizes the imposition of fines on banks that are contrary to his instructions', noting that' the amounts imposed on these banks amounted to 400 billion dinars'.

Keywords He added that the '80%, which is estimated at 40 banks out of 50 private banks were having problems in relation to the purchase of foreign currency from the central bank before placing conditions and new instructions in 2012 for the sale and purchase of currencies ', noting that' these problems relate to the fact that their documents incomplete or false '.

He added that 'some problematic transactions not only documents but suspicions in money laundering and has forwarded to eliminate related', pointing to 'the existence of a cooperation agreement between the Central Bank of Iraq and Jordan in this regard.'

The Keywords announced in the third of last March that the new regulations set by the Bank is that the auction is no longer a daily window of operations for the sale of currency auctions, pointing out that the new mechanisms developed to sell this currency especially that of its functions to provide currency for foreign trade.

It sounds like they are preparing to go international. 

 400 Billion Dinars Fine..add some value to the Dinar...that be a real hefty fine...

[yota691]

Keywords: Central option to ensure a balance in the domestic market

 

 

         

11/30/2015 0:00 

 BAGHDAD - Hussein al-Tamimi Shokran Fatlawi 

discussed the progress of the Institute of Development Studies in the specialized seminar on the status of monetary policy in Iraq, which represents the tasks of the Iraqi Central Bank and the consequent action in the presence of a number of economists interested in economic affairs. 

President of the institute d. Mehdi al-Hafez questioned at the beginning of his speech about the extent of truth of what is being said on the Central Bank in various media about the imbalance in monetary policy and urged the central bank governor to give a realistic picture of the details of this matter. 

In turn put d. On the Keywords Governor of the Central Bank of Iraq clarifications on dollar selling window during the past years and said: It is when we received the responsibility of the central bank and found a lot of files relating to irregularities sell the dollar port diagnosed in 2012 after the central bank instructed in this regard where these instructions were not present before year 2012, which identified the conditions of sale, and these conditions promote the procurement documents pertaining to imports and Altsrihh customs tax and settling accounts and some other requirements. 

He Keywords saying: The instructions developed according to the vision of the Central Bank to control the sale of the dollar, which is legally and practically an order, as the central bank law provides that the central selling the currency in a simple, unconditional and this is reinforced by the guidelines of the International Monetary Fund, which is committed by the Member States, including Iraq, and the role of the central bank is to make sure the money sources that enter the process and legitimacy. 

He noted the importance that the banks based on the principle Know Your Customer It has a database of who opens the account and the central role of watching over the bank's commitment to this principle, either on the practical side, the real, the character of unilateral Iraqi economy, makes it imperative for the central save a certain percentage of cash inside Iraq and in the dysfunctional to inflation or vibration exchange rate, and to the Central lead This task must be continuously looks for his handling of the liquidity level in the market, noting that the tools that the central has to determine this liquidity is limited and that the general budget are determined by the liquidity ratios and central deal with this phenomenon through the available mechanism, noting that the Ministry of Finance resources dollar does not need to this amount of dollars, which paid to sell surplus a need for the central bank which is based Bembadlth Dinars. 

Keywords noted that the central front of two ways to get cash either err on the currency printing or sell the dollar through auction, cash and logic avoids printed currency because it raises levels Liquidity in the market so that the central option to sell the dollar tends to ensure a balance in the domestic market between the dollar and the local currency. 

returned d. Mehdi al-Hafez for referring to the difficult economic situation in Iraq, which resulted from the fall in oil prices, which led to a state of economic instability, adding that this is reflected in the central bank for being an essential part of the economic system in the country. 

With regard to the International Monetary Fund and the World Bank between Hafiz they refused to pay any aid unless re-examined several items in public spending, including the ration card allocations and the level of salaries and fuel subsidies in Iraq. 

He noted that the amount proposed in the International Monetary Fund is more than one billion dollars, while the World Bank amounts to his loan assumed about $ two billion in total Internal debt securities more than six billion dollars, pointing out that the interest rate by the rate of 7 percent and this raises concern among citizens because of the height of remarkable. 

He noted that reliable sources confirm that the two international institutions insisting on imposing censorship on the economic and financial performance of the government, pointing out that these negative estimates make the proposed deficit impractical and far from reality and can not cover the target (deficit). 

[yota691]

Jubouri criticizes central to his quest to pass a law protecting him from criticism and asserts: We're going after the corrupt

 

Monday November 30 2015 10:12

 

 

 

 

Alsumaria News / Baghdad 
He criticized the Parliamentary Finance Committee member Haitham al-Jubouri, on Monday, the central bank sought to pass a law protecting him from criticism, and at the time who pointed out that the prosecution will be spoilers, confirmed that he will be held accountable those who want to stop the monitoring process to sell the dollar window. 

Jubouri said in a statement received Alsumaria News, "surprised frequently charges the central bank to some critics for his work Baksourih jurisdiction and interference in his work, and his quest to issue a law to prevent the House of Representatives and observers from criticism of his work and its workers," calling on the bank to "abide by the constitution and the law and recognize the right of the House of Representatives to monitor, assess and evaluate the Bank's work, in addition to holding accountable those who prove collusion or deliberate breach of the system and the loss of public money. "

 

 

He Jubouri that "the House of Representatives will continue to expose the corrupt and manipulators Bakot people," and expressed surprise at the "Mnaqdhat Central Bank who defend private banks launch and then return to announce punish banks for 400 billion dinars." 

He Jubouri that "there are specialists in the House of Representatives lawmakers and state commissions have the right to question the evaluation and investigation of any suspicion arises, or any piece of information up and no one is above the law, no institution is not personal," stressing that "The Council strongly wants to stop monitoring and calculation process will be held accountable and will deal with each violations and on head of fraud in the sale of dollar window and financial reserve decrease significantly. " 

The Central Bank of Iraq, on Sunday (November 30, 2015), about his quest to enact legislation to protect the decision-makers of the accusations, stressing continuity in the working mechanisms to ensure exchange rate stability in the markets. 

He criticized a number of specialists fiscal policy and mechanisms of action of the Central Bank on the sale of the dollar and low reserves of hard currency from Iraq window. 

The Governor of the Central Bank on the Keywords announced in the third from last March that the new regulations set by the Bank is that the auction is no longer a daily window of operations for the sale of currency auctions, noting that the new mechanisms developed to sell this currency, especially that of its functions to provide currency for foreign trade.

 

[yota691]

Parliamentary Integrity: Nationality Almzodugh an obstacle "in the arrest of corrupt

November 30, 2015

 

 

 

 

Our economy / Baghdad

The Commission on Parliamentary Integrity, Monday, Interpol, the international non-cooperation with Iraq because of the weakness of the government's performance and the presence of dual nationalities of the wanted men.

He said the Commission's decision MP Juma Bahadli that the presence of dual nationals in a number of former officials accused of corruption and terrorism is a fundamental obstacle to the work of the concerned authorities in the arrest of criminals and hand them over to justice.

Bahadli that poor government performance in the consolidation of external relations as well as the weakness of governments that followed the fall of the tyrant reduced the states to respect Iraqi sovereignty.

He noted that the foreign ministers of the current (Ibrahim al-Jaafari) and former (Hoshyar Zebari) did not close at the level of ambition in the consolidation of foreign relations with other countries because of their policy prosthetic and vulnerable and that do not rise to the level of ambition to meet the demands of the Iraqis.

Bahadli announced the existence of the movements with the President of the Republic to arrest the people involved in the theft of money and blood. He is calling for the need to be a real policy of the State Department in pursuing criminals and contributing to the consolidation of relations to throw at them.

[yota691]

Nassif legislation calls for dual citizenship law to put an end to the mischief

Political

 Since 11.30.2015 at 12:56 (GMT Baghdad)

BAGHDAD - scales News

Asked Deputy High Nassif, Monday, legislative and executive branches to expedite the proceeds dual nationality law to put an end to many of the corrupt and thieves of public money who are sheltering their nationality other.

Nassif said in a statement received / scales News / copy of it, that "one of the main reasons for the spread of financial and administrative corruption suffered by the Iraqi state is to shelter many of the corrupt and thieves of public money nationalities other, allowing them the opportunity to persistence in corruption because they feel safe from punishment. "

He added that "some of those involved what is more dangerous than financial corruption, such as treason, employment and conspiracy to Iraq and its people, And when that opportunity to flee abroad and sheltering States that granted them citizenship."

She stressed Nassif on "the need for the prime minister Haider al-Abadi exclusion of people with dual nationalities from important positions and special grades in the Iraqi state, starting from the top of the pyramid unless they give up their other nationality, Iraqi citizenship, it is honored by all Iraqis, and not has the honor of belonging to his country he is human being dishonest ", indicating that" legislation to speed up the dual nationality law will be of great importance in the elimination of a large part of the rampant corruption in Iraq, ".anthy 29 / W 23 

[yota691]

Criticism of the bill protects the "central" of corruption charges

Writings

Wednesday, December 02 the first 0.2015

 

 

 

It met with the efforts of the Iraqi Central Bank pass a law protecting him from accountability in corruption cases, and widespread criticism from members of parliament. 
The parliamentary source, a number of members of parliament associated with previous governments supporting the proposed bill, said the source, who declined to be named, that the parliamentarians justified provide project as an attempt to keep the central bank from political pressures and attempts to blackmail carried out by the political parties. 
The central, it announced last Sunday, on his quest to enact legislation that protects decision-makers in which accusations of corruption. 
For his part, rejected member of the Finance Committee in the Iraqi Parliament, Haitham Jubouri, seeking to obtain a law protecting the Central Bank of the criticism, pointing out, in a press statement, that his committee will continue its work in the prosecution of corrupt. He said 'we were surprised by accusations of the central bank for some critics of interfering in his work', and stressed the need to abide by the constitution and laws, and the recognition of the right of Parliament to monitor and evaluate the work of the bank, and to hold accountable those involved the loss of public money. 
The Jubouri continue to parliament his work in exposing the corrupt and manipulators Bakot people, expressing surprise from the defense of the bank for a number of private banks, before returning to criticize and Agrmha amounts reached 400 billion Iraqi dinars ($ 330 million). 
and noted a member of the Parliamentary Finance Committee to the presence of parliamentarians and members of the committees have the right to question and investigate any suspicion or information reach them, stressing that no one is above the law, and will be all those responsible for violations accountable, without exception, especially fraud and decrease the financial and window Reserve sell the dollar. 
 He said parliamentarians, the former prime minister, Nuri al-Maliki, was appointed one of his close associates Abdel Basset Turki governor of the Central Bank, before being changed The current prime minister, Haydar al-Abadi, and set on the Keywords, who belongs to the Dawa Party (Abadi) suite instead. 
In a related context, denied the Trade Bank of Iraq, the reports about his involvement operations 'money laundering', explaining in a statement that it did not exceed the laws and customs of banking . The bank confirmed that the accusations lacked vision and legal objectivity. 
And published local media, earlier, and documents indicating referral director of the Trade Bank of Iraq Hamdiya dry, to the investigation, in accordance with Article 16 of the Iraqi-money laundering law.  
 

[yota691]

Central bank: the reserves of foreign currency than the local currency Exporting

He wrote in: December 13, 2015

Form the subject of foreign currency reserves at the Central Bank of Iraq the focus of a panel discussion organized by the "Institute of progress" of development policies, which expressed concern over the worsening of the problems taking place in the economy and the financial and productive sectors experts.

The Governor of the Central Bank of Iraq on the Keywords during the seminar that "the reserve of foreign currency than the local currency issued by comfortable," pointing out that "the global standard for calculating as an indicator of adequacy."

And he declared that "the bank adds a day more than $ 500 million refers to the lack of concern in this aspect," explaining that "the IMF said in a study two weeks ago that this reserve will rise again in 2016 to reach $ 91 billion by 2020"

He stressed Keywords that "the source of this reserve is not the central bank, as the decline does not mean there is a problem, since the reserve is the dollar, which comes from the Ministry of Finance and the decline in revenue resulting from the oil dollar sub-par this reserve with the central bank," saying it was "a matter of natural ".

He stated that "the role of this reserve is to achieve a balance in the balance of payments, that is, between the need for the dollar and contained him by pumping quantities that kept the exchange rate, if the role of reservists to fill the need to keep a balance exists, and otherwise will increase the exchange rate and created the parallel market and the black", so He stressed that the central bank "does not control Balaanaat for not originally responsibility for revenue, and you must understand this problem at the national level."

Keywords and said that "demand for the dollar analysis reveals the lack of a production base," pointing to "the existence of monetary policy, the dollar is pumped constantly puts pressure on the dinar required to provide to cover the expenses of fiscal policy."

"The ideal situation in any country is that the local revenues and operating expenses cover to make the required balance, but this can not be achieved."

He explained that "the Ministry of Finance spent about 54 trillion dinars in the first ten months of the year, while non-oil revenues amounted to 4 trillion, while the other does not exceed the real revenues include taxes and other trillion dinars."

He revealed the Iraqi central bank governor during the seminar that "80 percent of banks experiencing problems and are unable to provide financial liquidity required", declaring that "the Central decided fined for violating the instructions, and was a big fines built on as profits from these operations to exceed 400 billion dinars."

It did not lose sight of the reference to "the existence of suspicions in some banking transactions related to money laundering," stressing that "This case dealt with according to the law."

He explained that "Iraq today is suffering from the problem of vibration global banks, which is now dealing with caution and with a limited number of Iraqi banks confidence", stressing that "what is needed is to maintain international confidence."

Keywords He said that "restrictions on the sale of currency means parallel events and market speculation and fraud and blackmail, so you should not do so on the central".

He announced "activate the work of anti-money laundering and banking supervision office and give them financial and administrative independence," pointing to "make great efforts to prepare a law to combat money laundering, which was approved, which is in line with international frameworks and the Organization of FATF, as Iraq was about to enter the blacklist if it did not approve ".

He described the former Planning Minister Mehdi al-Hafez economic situation in Iraq as "very difficult", as a result of falling oil prices. He believed that this "is reflected in the central bank as a basis part of the economic system."

Read more: http://dinarvets.com/forums/index.php?/topic/212753-central-bank-the-reserves-of-foreign-currency-than-the-local-currency-exporting/#ixzz3uCcpP9aD