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Achievements of the Department of Foreign Investments and Remittances in the Central Bank of Iraq
164 views•Mar 5, 2021
Press release about the foreign reserves performance report for 2019
The data of the annual report of foreign reserves showed a positive performance in 2019 compared to 2018, as these reserves grew by 5.52% in 2019 from what they were in 2018, as a result of the increase witnessed by the central bank purchases from the US dollar from the Ministry of Finance compared to its sales through a sale window Currency, in addition to the profits accrued from the returns of the investment portfolio in its various classes.
On the level of investment portfolios, the value of these portfolios achieved net growth in 2019 by 18.4% compared to 2018, accompanied by a growth in returns on these portfolios in 2019 by 59% compared to 2018, and the proportion of these returns to investment portfolios in 2018 was approximately Almost 1.7%, while the rate of returns to investment portfolios increased in 2019, to approximately 2.3%.
As for the gold segment, it grew in 2019 by 18.8% compared to 2018, despite the fact that this bank has not increased its investment in this asset during this year, but the increase in the value of these holdings came as a result of the significant increase in the price of gold globally. Iraq is ranked 38th in the world with its gold holdings, and 5th in the Arab world, with a total of 96.3 tons.
As part of this bank’s plan to enhance returns on reserves and build capacity in the field of reserves self-management, this bank established during the year 2019 many international banking relationships and entered into agreements and memoranda of understanding with a number of international banks and major financial institutions, such as the International Bank for Reconstruction and Development and the Arab Monetary Fund, As well as international institutions concerned with investment management.
The Central Bank of Iraq
The central bank announces a rise in currency sales to 29 million dollars
02:05 - 12/08/2018
BAGHDAD (Reuters) -
The Central Bank of Iraq (CBE) announced on Sunday that its currency sales rose to 166.83 million dollars, compared with 137.98 million dollars last Thursday, a 28.85 million dollar increase.
"The exchange rate reached 1190 dinars per dollar, in the auction held with the participation of 35 banks, and one company only for financial transfer," the central bank said in a statement.
The bank said that "these sales are the results of the auction on Monday," explaining that "total sales totaled $ 200.43 million."
Amounts sold to strengthen bank balances abroad amounted to $ 165.33 million, while total cash sold was estimated at $ 35.1 million.
The Central Bank, "the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the sale of cash will be at the same price." Ended 29 / a 43
The Central Bank is finalizing a document related to auditing and IT governance at banks
Economy News _ Baghdad
The Central Bank of Iraq (CBE) governor Ali Al-Aalak said the Central Bank is about to issue a detailed document on auditing and IT governance at banks.
"The document is currently in the final review stage and is being discussed with banks and will be binding on the relevant parties," Al-Aalak said at the inaugural ceremony of the ISACA branch for auditing and monitoring information systems in Iraq.
He added that "the work of the ISACA is very important and we will interact with him and support him with all that is needed, because we recognize the importance of work in this aspect and the seriousness of the delay in its application." He pointed out that the financial institutions have opened in their financial transactions remarkably, "Until recently, On the service of those inside the institution, but today many of these systems are open to the outside world, "stressing the need to meet this development with the development of risk management resulting from these systems.
Al-Alaq stressed that "the Central Bank, as a result of its supervision and control, has evolved from the traditional control to the control that takes advantage of and employs modern technology in its operations," pointing out that there is a shift in the central bank towards electronic auditing.
The head of the Association of Iraqi Private Banks, Wadih al-Hanalal, said in his speech on his behalf, the economic adviser, Samir Nusairi, that "Iraq is making great strides in the way of development and openness to the outside world in all fields, to take the historical and global prestige and knowledge it deserves, This world-class institution, which is present in more than 200 countries around the world, is only a vivid example of the openness of the world to Iraq and the openness of Iraq to the world. "
He pointed out that "the importance of the existence of such an international institution in Iraq, being one of the major references in the world in the establishment of the foundations of auditing on information systems and security and preservation," noting that "the world has become a small village, thanks to the tremendous development in the field of information systems, data processing and circulation, And the development of countries is measured by the development of electronic and information systems. "
He stressed that the role of the Iraqi Central Bank in the development of the banking sector in Iraq is a leading situation in Iraq as a whole, as the Iraqi Central Bank is actively pursuing the development and modernization of this sector, "pointing out that" the development of electronic technologies and information systems in banks is The best way to upgrade Iraqi banks to global. "
He stressed that "the Association of Iraqi private banks is following closely and as a strategic partner of the Central Bank of Iraq and work to improve the banking sector in all fields, so this event came in cooperation with the Association of Banks to the importance of the role played in this vital area."
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