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World Gold Council: Iraq ended 2019 without buying anything from it


yota691
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2018/09/05 13:21
  • Number of readings 20
  • Section: Iraq
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The Central Bank of Iraq announces the strengthening of its reserves of gold by 6.5 tons

 

 

BAGHDAD / 

The Central Bank of Iraq announced on Wednesday, September 5, 2018, the strengthening of reserves of gold by six tons and a half tons, bringing the total balance of gold 96 tonsThis comes within the framework of the Bank's reserve management policy in diversification of investment assets.

"The Central Bank of Iraq has invested in the fall of precious metal prices to carry out the purchase of the additional quantity that was made in cooperation with the French Central Bank."

Follow the obelisk

http://almasalah.com/ar/news/149239/البنك-المركزي-العراقي-يعلن-عن-تعزيز-احتياطاته-من-الذهب-بـ-65-طن

 

 
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The central bank is boosting its reserves of gold to 96 tons
 
9872.jpg

  

 Banks


Economy News _ Baghdad

The Central Bank of Iraq (CBE) announced on Wednesday that it will increase its reserves of gold by 6.5 tons (six tons and a half tons) to a total of 96 tons of gold. 
The central bank said in a statement received by the Economist News, a copy of it, that "the strengthening of our reserve of gold (6.5) tons (six tons and a half tons) to become a total balance of gold 96 tons, as part of the policy of managing the reserves of the bank in diversification Investment assets ". 
He added that he "invested in the fall of precious metal prices to carry out the purchase of the additional quantity that was made in cooperation with the French Central Bank."

 
 

Views 12   Date Added 05/09/2018

http://economy-news.net/content.php?id=13532

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Baghdad Post Wednesday, 05 September 2018 01:55 PM

The Central Bank strengthens its reserves of gold to 96 tons

Dollar and Gold

The Central Bank of Iraq (CBE) announced on Wednesday that it will strengthen its reserves of gold by 6.5 tons, bringing its total gold reserves to 96 tons.

"The strengthening of gold reserves comes within the framework of the Bank's reserve management policy to diversify investment assets," the bank said in a statement . 
He added that "the fall of precious metal prices has been invested to implement the purchase of the additional quantity that was made in cooperation with the French Central Bank ."

Count

https://www.thebaghdadpost.com/ar/Story/120710/البنك-المركزي-يعزز-احتياطاته-من-الذهب-ليصل-إلى-96-طنا

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  • yota691 changed the title to The central bank is boosting its reserves of gold to 96 tons

CBI strengthens its reserves of gold

CBI strengthens its reserves of gold

 

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05/09/2018

Baghdad

The Central Bank of Iraq (CBE) announced on Wednesday that it will boost its reserves of gold by 6.5 tons to become a total of 96 tons of gold.

A source in the Iraqi Central Bank in a statement obtained "trend" a copy of it, the Central Bank of Iraq invested a fall in prices of precious metal to carry out the purchase of the additional quantity, which was carried out in cooperation with the French Central Bank.

This comes within the framework of the Bank's reserve management policy in diversification of investment assets.

ZM

http://aletejahtv.com/archives/251658

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16 minutes ago, Butifldrm said:

CBI strengthens its reserves of gold

CBI strengthens its reserves of gold

 

7 views

05/09/2018

Baghdad

The Central Bank of Iraq (CBE) announced on Wednesday that it will boost its reserves of gold by 6.5 tons to become a total of 96 tons of gold.

A source in the Iraqi Central Bank in a statement obtained "trend" a copy of it, the Central Bank of Iraq invested a fall in prices of precious metal to carry out the purchase of the additional quantity, which was carried out in cooperation with the French Central Bank.

This comes within the framework of the Bank's reserve management policy in diversification of investment assets.

ZM

http://aletejahtv.com/archives/251658

Thanks Butifldrm   

Precious metals are a great buy these days.   Not a bad time to buy.  Although I'm less motivated to dig it up myself its still always a fun day in the desert.

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2 minutes ago, SocalDinar said:

Thanks Butifldrm   

Precious metals are a great buy these days.   Not a bad time to buy.  Although I'm less motivated to dig it up myself its still always a fun day in the desert.

Good point.

 

Gold and silver have been tanking for months...been shorting premium, option contracts are cheap right now.

 

 

 

 

 

 

 

 

 

 

 

 

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6 hours ago, Butifldrm said:
The central bank is boosting its reserves of gold to 96 tons
 
9872.jpg

  

 Banks


Economy News _ Baghdad

The Central Bank of Iraq (CBE) announced on Wednesday that it will increase its reserves of gold by 6.5 tons (six tons and a half tons) to a total of 96 tons of gold. 
The central bank said in a statement received by the Economist News, a copy of it, that "the strengthening of our reserve of gold (6.5) tons (six tons and a half tons) to become a total balance of gold 96 tons, as part of the policy of managing the reserves of the bank in diversification Investment assets ". 
He added that he "invested in the fall of precious metal prices to carry out the purchase of the additional quantity that was made in cooperation with the French Central Bank."

 
 

Views 12   Date Added 05/09/2018

http://economy-news.net/content.php?id=13532

 

ALRIGHT ! Who’s been taking photos of MY. Closet ! 😎

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https://www.thebaghdadpost.com/en.........................Central reserves amounted to $ 59 billion and 96 tons went gold

 
 

 
9.jpg

09/9/2018 12:00 am 
 
Director General of Investment Department for {morning}: 
Baghdad / Hussein Thugb 
A continuous movement of the Central Bank of Iraq to develop the joints of its work and achieve a package of achievements in the level of expansion of foreign financial investments, and the development of performance by adopting the best systems in the region to prove its ability to manage foreign reserves in full. Director of the Department of Investments in the Central Bank of Iraq d. "The Central Bank has achieved a qualitative shift in performance over the past few years despite the challenges it faced. If we start from foreign reserves, The sale of the currency and our purchases of dollars from the Ministry of Finance, which led to an increase of reserves amounted to (59) billion dollars at the end of August 2018. 


Renewal of deposits 
"There has been a development in the management of these reserves, where our reserves were managed by our correspondents and our role was not directly in the renewal of deposits or the sale of currency and other purchase," adding that "in the past we have adopted self-management of a large part of our investments abroad using global trading platforms Such as Reuters and Bloomberg, "noting that" this has brought us returns 
Additional ". 
"The central bank has made an appropriate diversification of the reserves, the most recent of which was the investment in Chinese bonds issued by the People's Bank of China. The Islamic bonds issued by the Islamic Development Bank were also invested, and our reserves of gold were recently increased by six and a half tons, Gold to 96 tons. " 


Swift Network 
"The Central Bank of Iraq is the first in the Middle East to apply self-recognition to all users of SWIFT network, and the first banks in the region submitted this acknowledgment and received a letter of thanks from SWIFT International and valued the efforts of the Central Bank to secure the environment of foreign remittances and comply with all international standards in remittances "The Central Bank of Iraq works and implements the latest systems and advanced software and surpasses most of the banks in the region a lot of things, and this came with the support of the leadership of the bank and urge the contract with the best international companies that contribute to the development of work mechanisms. 


Banks Correspondence 
On foreign relations between Ahmed, "the existence of directions to the Central Bank to exploit the opportunity to exit Iraq from the control area of the Financial Action Organization in the promotion and establishment of relations with correspondent banks around the world." 
"We are in close contact with the Dutch and French Central Bank. We also have a close relationship with the Arab Monetary Fund and an effective representation in the boards of Arab financial organizations such as the Arab Monetary Fund Arab Trade Financing Program and others. " 
He stressed "the recent contract with Ernst and Young International to follow up the commitment of Iraqi banks to the user security requirements set by the company, and the company follows the commitment of Iraqi banks to the standards, and through which the report is submitted to us to Swift International, to demonstrate compliance by Iraq and reduce indicators "The central bank controls its financial system and complies with international regulations. This helps us to expand the circle of international relations and establish banking partnerships with international financial institutions." 


Financial obligations 
"The Central Bank is working to ensure the payment of the financial obligations of the Iraqi government in cooperation with the Ministry of Finance," noting that "there is a desire and direction of the Central Bank to activate and find channels of work for Islamic banks in Iraq, and the Bank has an important role in strengthening the financial side and capabilities The export of Iraqi oil and in coordination with the oil marketing company (Sumo) explaining that "all regional countries have strategies in the marketing of crude oil and here the central bank has a role in this matter, by facilitating the opening of funds in coordination with the oil marketing company (Sumo) For the bride S in the international oil market, so we have to coordinate with SOMO to enter the Islamic banks to open credits and achieve elements toattract the Iraqi oil market as part of a long - term marketing contracts. " 


HR 
"We have a scholarship program for our staff in the United Kingdom and Canada, from 10 to 15 students a year to study master's degrees in various disciplines 
Finance ". 
"The Central Bank has achieved its role in the economy through its success in stabilizing exchange rates and controlling acceptable levels of inflation, and there is a new direction of the Bank, according to the directives of the senior management represented by the Governor of the Central Bank to take the central bank role and be an adviser For the government, in the presence of expertise in the bank and by virtue of the direct and close relationship with the international community and its organizations more than 
 
 
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Central reserves amounted to $ 59 billion and 96 tons went gold

   
 

 
9.jpg


09/9/2018 12:00 am 

Director General of Investment Department for {morning}:

Baghdad / Hussein Thugb
A continuous movement of the Central Bank of Iraq to develop the joints of its work and achieve a package of achievements in the level of expansion of foreign financial investments, and the development of performance by adopting the best systems in the region to prove its ability to manage foreign reserves in full. Director of the Department of Investments in the Central Bank of Iraq d. "The Central Bank has achieved a qualitative shift in performance over the past few years despite the challenges it faced. If we start from foreign reserves, The sale of the currency and our purchases of dollars from the Ministry of Finance, which led to an increase of reserves amounted to (59) billion dollars at the end of August 2018.



Renewal of deposits 
added : "Evolution in the management of these reserves has occurred, where the reserves are managed by our correspondents was not a direct role in the renewal of deposits or sell currency and buy another," pointing out that "in the last period we have adopted self - management for a large part of our investments abroad by using platforms Global electronic trading such as Reuters and Bloomberg, "noting that" this has brought us 
 additional revenue . " 
"The central bank has made an appropriate diversification of the reserves, the most recent of which was the investment in Chinese bonds issued by the People's Bank of China. The Islamic bonds issued by the Islamic Development Bank were also invested, and our reserves of gold were recently increased by six and a half tons, Gold to 96 tons. " Swift Network



"The Central Bank of Iraq is the first in the Middle East to apply self-recognition to all users of SWIFT network, and the first banks in the region submitted this acknowledgment and received a letter of thanks from SWIFT International and valued the efforts of the Central Bank to secure the environment of foreign remittances and comply with all international standards in remittances "The Central Bank of Iraq works and implements the latest systems and advanced software and surpasses most of the banks in the region a lot of things, and this came with the support of the leadership of the bank and urge the contract with the best international companies that contribute to the development of work mechanisms.  Banks correspondent  on foreign relations between Ahmed "the existence of directions to the Central Bank to exploit the opportunity to exit Iraq from the control area of the Financial Action Organization in the promotion and establishment of relations with correspondent banks around the world."




"We are in close contact with the Dutch and French Central Bank. We also have a close relationship with the Arab Monetary Fund and an effective representation in the boards of Arab financial organizations such as the Arab Monetary Fund Arab Trade Financing Program and others. " 
He stressed "the recent contract with Ernst and Young International to follow up the commitment of Iraqi banks to the user security requirements set by the company, and the company follows the commitment of Iraqi banks to the standards, and through which the report is submitted to us to Swift International, to demonstrate compliance by Iraq and reduce indicators "The central bank controls its financial system and complies with international regulations. This helps us to expand the circle of international relations and establish banking partnerships with international financial institutions."


Financial commitments  
between Ahmed "The Central Bank is working to ensure payment of the financial obligations of the Iraqi government in cooperation with the Ministry of Finance," noting that "there is a desire and guidance to the Central Bank to activate and find channels of work for Islamic banks in Iraq, and the Bank has an important role in strengthening the side "All regional countries have strategies in the marketing of crude oil. Here, the central bank has a role in this matter, by facilitating the opening of funds in coordination with the oil marketing company (SOMO) in a manner that achieves It signed well for Iraq in the international oil market, so we have to coordinate with SOMO to enter the Islamic banks to open credits and achieve elements to attract the Iraqi oil market as part of a long - term marketing contracts. " Human Resources



"We have a scholarship program for our employees in the UK and Canada, where 10 to 15 students are sent each year to study master's degrees in various 
 financial disciplines ," Ahmed said . 
"The Central Bank has achieved its role in the economy through its success in stabilizing exchange rates and controlling acceptable levels of inflation, and there is a new direction of the Bank, according to the directives of the senior management represented by the Governor of the Central Bank to take the central bank role and be an adviser For the government, in the presence of expertise in the bank and the rule of direct and close relationship with the international community and its organizations more than 
 others. "

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On 9/9/2018 at 6:39 PM, yota691 said:

Renewal of deposits 
added : "Evolution in the management of these reserves has occurred, where the reserves are managed by our correspondents was not a direct role in the renewal of deposits or sell currency and buy another," pointing out that "in the last period we have adopted self - management for a large part of our investments abroad by using platforms Global electronic trading such as Reuters and Bloomberg, "noting that" this has brought us 
 additional revenue . " 
"The central bank has made an appropriate diversification of the reserves, the most recent of which was the investment in Chinese bonds issued by the People's Bank of China. The Islamic bonds issued by the Islamic Development Bank were also invested, and our reserves of gold were recently increased by six and a half tons, Gold to 96 tons. " Swift Network

"The Central Bank of Iraq is the first in the Middle East to apply self-recognition to all users of SWIFT network, and the first banks in the region submitted this acknowledgment and received a letter of thanks from SWIFT International and valued the efforts of the Central Bank to secure the environment of foreign remittances and comply with all international standards in remittances "The Central Bank of Iraq works and implements the latest systems and advanced software and surpasses most of the banks in the region a lot of things, and this came with the support of the leadership of the bank and urge the contract with the best international companies that contribute to the development of work mechanisms.  Banks correspondent  on foreign relations between Ahmed "the existence of directions to the Central Bank to exploit the opportunity to exit Iraq from the control area of the Financial Action Organization in the promotion and establishment of relations with correspondent banks around the world."

"We are in close contact with the Dutch and French Central Bank. We also have a close relationship with the Arab Monetary Fund and an effective representation in the boards of Arab financial organizations such as the Arab Monetary Fund Arab Trade Financing Program and others. " 
He stressed "the recent contract with Ernst and Young International to follow up the commitment of Iraqi banks to the user security requirements set by the company, and the company follows the commitment of Iraqi banks to the standards, and through which the report is submitted to us to Swift International, to demonstrate compliance by Iraq and reduce indicators "The central bank controls its financial system and complies with international regulations. This helps us to expand the circle of international relations and establish banking partnerships with international financial institutions."

 

:backflip:       :backflip:       :backflip:

 

If You don't mind me saying:

 

HOLY SMOKES, FOLKS!!!

 

And all this from, "Director General of Investment Department"!!!

 

Maybe just me but this news appears to be beyond phenomenal and a solid, solid indicator of where things are headed!!!

 

The question I ask is, "Why???!!!"???!!!

 

"The Central Bank of Iraq works and implements the latest systems and advanced software and surpasses most of the banks in the region a lot of things"

 

SAY WHAT???!!!

 

Opinions, please.

 

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

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

:rodeo:   :pirateship:

 

 

 

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34 minutes ago, ChuckFinley said:

I think that this is really a big deal and part of a larger picture of security and strength that the dinar will have, regardless of oil and other natural wealth the country may have. 

 

I agree, ChuckFinley, AND The Best Of Your Weekend To You!!! :tiphat:

 

Hopefully Flo won't hit You too hard where You are at!!!

 

All The Best!!! :twothumbs:

 

Go Moola Nova!

:pirateship:

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Country buy gold to stanby for small denom to issue . Iraq get so much inflation. their need rise taxes for good and services and rise money supplier to let gdp growth. people dont put their money in the bank .Gov are forcing to stannby with reserves gold . IMO . i hope will get revalue in end september so i can buy gold 

Edited by normala rashid
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On 9/2/2018 at 8:39 AM, ErichK said:

So the big question is , how does it drop 150/oz if the market is aware of the stockpiling? Logically speaking, the price should be going up. Can anyone provide insight to this.

 

Economy collapse at 2018 and many country get much calculations in their country . No demand for fiat . The gold price depand the higher demand money supply. We economy is boosting and gold will much better rise up . I dont saving gold fiscally for investment. Just to prepare for any war . I think the world is so much black power controlling behind gov . We will be the victim. So better prepared to ourself. 

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i dont want talk advanced about economic in public . Is dangerous. Because people are controlled  by someone have planned for along time ago . People cant know the secret .  By the way , We are invest the right currency . I’m lucky that iraq just going to the top and buy more gold means their country improves a lot and already going to global 💕

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  • 1 month later...

Central banks are moving to record the first increase in gold holdings in five years

Central banks are moving to record the first increase in gold holdings in five years

 24 October 2018 07:03 PM
Direct: Central banks are going to increase their purchases of gold in 2018 for the first time in five years, as the countries of Eastern Europe and Asia to diversify their reserves.

Net gold purchases by central banks are expected to rise to 450 tonnes this year from 375 tonnes in 2017, according to data from consulting firm MetalFox on Wednesday.

It will be the first increase since 2013 when central banks boosted their yellow metal holdings by 646 tonnes.

"Central bank purchases are likely to remain high as a result of ongoing efforts to diversify reserves among emerging countries," said Junlo Liang, a company analyst in a weekly note.

"Despite the acquisitions made by a number of central banks in emerging countries in recent years, the share of total reserves represented by their holdings of gold is still low, especially when compared to those in Western countries," Liang said.

Poland and Hungary have surprised the markets with gold purchases for the first time in years, while Russia has continued to lead global central banks in metal purchases this year, with the central bank adding an average of about 20 tonnes per month.

 
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  • yota691 changed the title to World Gold Council: Iraq ended 2019 without buying anything from it

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