CBI News 05/07/2018

[yota691]

Declaration on opening a window to sell foreign currency for purposes of imports from abroad

 

  

 May 07, 2018

 

 

[yota691]

Subscribing to the subscription window of the sale of foreign currency

 

  

 May 07, 2018

 

To all banks with a capital of less than ( 250 ) billion ( participation in the window selling foreign currency)

 

 

 

[Ricky G.H.]

Thank You Master Yota

 

[DWS112]

41 minutes ago, yota691 said:

Declaration on opening a window to sell foreign currency for purposes of imports from abroad

م/ إعالن لغرض فتح نافذة لبيع العملة األجنبيـة ألغــراض االستيرادات مـن الخارج قرر البنك المركزي العراقي فتح نافذة عبـر مصرف دار السالم لالستثمار )تحست الوصـاية( فعلى الشركات التجاريــة الراغبـــة بتقــديم طلبــات شراء الـدوالر للغرض أعـاله التوجه إلـى المصرف المشار إليه لتقديم طلباتكم وبسعر مخفض مع التقدير

translation:

For the purpose of opening a window for the sale of foreign currency for the purposes of imports from abroad, the Central Bank of Iraq decided to open a window through Dar Al-Salem Investment Bank (trusteeship). Commercial companies wishing to submit orders for the purpose of purchasing the dollar for the purpose above should go to the bank referred to you to submit your applications

 

[DWS112]

42 minutes ago, yota691 said:

Subscribing to the subscription window of the sale of foreign currency

إلى / جميع المصارف التي يقل رأسمالها عن )+ * 12( مليار م / االشتراك في نافذة بيع العملة األجنبية حصلت الموافقــة علـى دخــول مصـارفكم إلـى نافذة بيـع العملة األجنبيــة ألغــراض تعزيـز ارصـدتكم فـي الخارج وفـق اآلليـات والتعليمــات المتبعة بهذا الخصوص وينفذ هذا القرار فورأ مع التقدير

translation:

To all banks whose capital is less than (250 billion) m. Participation in the window of sale of foreign currency The approval of the entry of your banks into the window of sale of foreign currency for the purpose of strengthening your stock abroad in accordance with the mechanisms and instructions followed in this regard.

[DWS112]

To increase the weekly cash quota for banks and exchange companies

 

 

To all licensed banks, all financial transfer companies and all exchange companies ( increase cash quota)

 

 

 

بمناسبة حلــول شــهر رمضـان المبارك تقرر زيادة الحصــة النقديــة األســبوعية للمصـــارف لتكـــون )300,000( دوالر اســـبوعيأ بـــدأل مـــن )270,000( دوالر ولشــركات الصــزافة لتكــون )130,000( دوالر اســبوعيأ بــدأل مــن )100,000( دوالر وكذلك تقرر بيع مبلغ )300,000( اسبوعيا إلى شركات التحويل المالي نقدأ

translation:

On the occasion of the holy month of Ramadan, it was decided to increase the weekly cash quota of banks to be ($ 300,000) per week starting from (270,000) dollars and to the Safad companies to be (130,000) dollars per week starting from (100,000) dollars and also to decide to sell (300,000)

[DWS112]

Early warning report for the banking sector

 

 

Early Warning Report for the Banking Sector (Chapter I - Chapter III) for 2017 ... Click here

 

المقدمة
لتعزيز مهمة البنك المركزي الع ارقي في الحد من المخاطر النظامية واتخاذ اإلج ارءات  التحوطية و السيما على المستوى الكلي Macroprudential المدعمة بنظم مناسبة  لإلنذار المبكر تتالءم مع التغي ارت في البيئة االقتصادية المحلية، يسر البنك المركزي  العراقي أن يصدر التقرير األول عن مؤشرات إالنذار المبكر الخاصة بالقطاع المالي.  إعداد هذا التقرير استنادا . ً إذ تَّم الى أفضل الممارسات الدولية في هذا المجال  إذ يسعى هذا التقرير ومن طريق المؤشرات الداخلة في التحليل إلى إ عطاء صورة  واضحة عن أداء القطاع المالي وتشخيص االختالالت فيه إن وجدت لمساعدة متخذي  القرار في بناء االستراتجيات المالئمة للقطاع المالي العراقي. ويقسم هذا التقرير على  ثالثة فصول، الفصل األول يتضمن تحليل مؤشرات أزمة العملة، ويتضمن الفصل الثاني  مؤشرات أزمة المصارف، والفصل الثالث يتضمن تحليل مؤشرات أزمة االقتصاد الكلي،  عالية وفقا ألفضل الممارسات ً إ َّن المؤشرات المستخدمة في هذا التقرير تم أختيارها بعناية  الدولية وبما يتالئم مع بيئة االقتصاد العراقي.

 

translation:

 

Introduction
To strengthen the Bank's long-term task of reducing systemic risk and taking precautionary measures, particularly macro-prudential measures supported by appropriate early warning systems adapted to the changing local economic environment, the CBI is pleased to release the first report on early warning indicators for the financial sector . Prepare this report based on. The best international practices in this area are sought. This report, through the indicators used in the analysis, seeks to provide a clear picture of the performance of the financial sector and identify the imbalances in it, if any, to assist decision-makers in building appropriate strategies for the Iraqi financial sector. This chapter is divided into three chapters. The first chapter includes the analysis of the indicators of the currency crisis. Chapter II includes the indicators of the banks crisis. Chapter 3 includes the analysis of indicators of the macroeconomic crisis, according to best practices. The indicators used in this report were carefully selected internationally and in line with Economy of Iraq.

[Butifldrm]

The Central Bank decides to increase the monetary share of banks and financial transfer companies and exchange participating in the sale window of the currency

 

Banks Economy News Baghdad: The Central Bank of Iraq decided to increase the monetary share of banks and financial transfer companies participating in the window selling the currency. The Central Bank of Iraq in a letter addressed to banks and financial transfer companies and exchange companies, and carried the signature of the Deputy Governor Monther Sheikhli, and obtained by the "economy News", "On the occasion of the month of Ramadan decided to increase the weekly cash quota of banks to be 300 thousand dollars a week instead of 270 thousand Dollars and exchange companies $ 130 thousand a week instead of $ 100 thousand dollars and you will decide to sell $ 300 thousand a week to the financial transfer companies in cash.

Views 60   Date Added 07/05/2018

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http://economy-news.net/content.php?id=12221

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[Officiallytook]

Everytime I look at the news here now... I hear...

 

Drake - god's plan lol

[Officiallytook]

https://youtu.be/xpVfcZ0ZcFM

[zul]

2 hours ago, Butifldrm said:

The Central Bank decides to increase the monetary share of banks and financial transfer companies and exchange participating in the sale window of the currency

 

Banks Economy News Baghdad: The Central Bank of Iraq decided to increase the monetary share of banks and financial transfer companies participating in the window selling the currency. The Central Bank of Iraq in a letter addressed to banks and financial transfer companies and exchange companies, and carried the signature of the Deputy Governor Monther Sheikhli, and obtained by the "economy News", "On the occasion of the month of Ramadan decided to increase the weekly cash quota of banks to be 300 thousand dollars a week instead of 270 thousand Dollars and exchange companies $ 130 thousand a week instead of $ 100 thousand dollars and you will decide to sell $ 300 thousand a week to the financial transfer companies in cash.

Views 60   Date Added 07/05/2018

Add rating  

 

http://economy-news.net/content.php?id=12221

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More dollars on the street of Iraq means more dinar in the banks. 

 

 

[boosterbglee]

Not 100% sure what it all means, but any banking news can't be too bad...right?

[King Bean]

2 hours ago, Officiallytook said:

Drake - god's plan lol

 

Almost as funny as 'God's plan -- Luigi's voice'. 

[ChuckFinley]

5 hours ago, zul said:

 

More dollars on the street of Iraq means more dinar in the banks. 

 

 

With as many years that they have been selling dollars we should be pretty good as to what is out there. This is for sure good for us.  

[idplzr]

7 hours ago, ChuckFinley said:

With as many years that they have been selling dollars we should be pretty good as to what is out there. This is for sure good for us.  

Chuck, I think they’re holding out for ours. Lol

[yota691]

The Central Bank allows banks with a capital of less than 250 billion dinars to participate in the currency auction

 

Banks Economy News _ Baghdad The Central Bank of Iraq announced on Tuesday that banks with capital of less than 250 billion dinars will be allowed to participate in the currency auction. "The approval of banks with a capital of less than 250 billion dinars to enter the window of sale and purchase of foreign currencies for the purpose of strengthening their assets abroad," the bank said in a statement received by the economy. "The participation will be in accordance with the mechanisms and instructions followed in this regard and implement this decision immediately." Views 165   Date Added 08/05/2018

[yota691]

The Central Bank decides to open a window to sell foreign currency in Dar es Salaam Bank

 

Logo of the Central Bank of Iraq

Banks Economy News Baghdad: The Central Bank of Iraq decided to open a window in Dar es Salaam Investment Bank to sell foreign currency for purposes of imports from abroad. The central bank said in a statement to the public site by Deputy Governor Munther Sheikli and briefed by "Economy News", "For the purpose of opening a window to sell foreign currency for purposes of imports from abroad, the Central Bank decided to open a window through the Dar es Salaam Investment Bank (under trusteeship) To submit applications for the purchase of the dollar for the above purpose to go to the bank referred to submit your requests at a reduced rate. Views 394   Date Added 08/05/2018

[yota691]

The central bank decides to increase the bank's cash quota to $ 300,000 per week

 

Tuesday 8 May

 

 

Alsumaria News / Baghdad The Central Bank of Iraq , on Tuesday, the increase in the cash share of banks to 300 thousand dollars per week.  The bank said in a statement received by Alsumaria News, a copy of it, "On the occasion of the holy month of Ramadan decided to increase the monetary share of banks to 300 thousand dollars a week instead of 270 thousand dollars."  He added that "the exchange companies were increased to 130 thousand dollars a week instead of 100 thousand dollars," noting that "it was also decided to sell $ 300 thousand dollars a week to the transfer companies in cash."     The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

[yota691]

08-05-2018 02:42 PM

The Central Bank allows banks with a capital of less than 250 billion dinars to participate in the currency auction

 

 

 

The Central Bank of Iraq announced on Tuesday that banks with capital of less than 250 billion dinars are allowed to participate in the currency auction. 

The bank said it had obtained approval for banks with a capital of less than 250 billion dinars to enter the window of sale and purchase of foreign currency for the purpose of strengthening their assets abroad. 

"The participation will be in accordance with the mechanisms and instructions followed in this regard and implement this decision immediately."

[NEPatriotsFan1]

11 minutes ago, yota691 said:

08-05-2018 02:42 PM

The Central Bank allows banks with a capital of less than 250 billion dinars to participate in the currency auction

 

 

 

The Central Bank of Iraq announced on Tuesday that banks with capital of less than 250 billion dinars are allowed to participate in the currency auction. 

The bank said it had obtained approval for banks with a capital of less than 250 billion dinars to enter the window of sale and purchase of foreign currency for the purpose of strengthening their assets abroad. 

"The participation will be in accordance with the mechanisms and instructions followed in this regard and implement this decision immediately."

So instead of stopping the auctions, they’re letting every Tom, ****, and Harry with small banks come play in the auctions...... sounds about right.... par for the course I guess...... I’m getting so sick of this country! I keep seeing the goal posts move every time we get close to scoring the touchdown 🤦‍♂️     

 

 

 

[Wiljor]

1 hour ago, NEPatriotsFan1 said:

So instead of stopping the auctions, they’re letting every Tom, ****, and Harry with small banks come play in the auctions...... sounds about right.... par for the course I guess...... I’m getting so sick of this country! I keep seeing the goal posts move every time we get close to scoring the touchdown 🤦‍♂️     

 

 

 

 

NEPatriotsFan1, good morning and a super day out to you. 

Perhpas, look at this from a different perspective, we can only speculate the actual number of Dinar in circulation today. Regardless of the number, we know that they must continue to have currency auctions, and, continue to dollarize the country in order to reduce the IQD floating around¡ and stored under all those mattresses. Also, the local banks are on a huge promotional crusade as well to attract Iraqis to deposit their IQD in the banks by giving them attractive deposit rates etc.... 

in my humble opinion, this is a good thing, allowing these banks to sell dollars, meaning, they wish to,  accelerate the process of bringing in the CHUNKY MONEY quicker then the current process. When we look at the big picture, Iraq has one of the most modern banking systems around, WHY? The infrastructure for a war torn country is basically back on line rather quickly, WHY. The world is on board to bring back Iraq to its former glory, WHY  and, on and on.....

Hang tight my friend, this journey was not meant to be easy, Iraq is on target to re value it’s currency, and with a little more patience, we will see this to the end. 

Edited May 8, 2018 by Wiljor

[Officiallytook]

23 minutes ago, Wiljor said:

 

NEPatriotsFan1, good morning and a super day out to you. 

Perhpas, look at this from a different perspective, we can only speculate the actual number of Dinar in circulation today. Regardless of the number, we know that they must continue to have currency auctions, and, continue to dollarize the country in order to reduce the IQD floating around¡ and stored under all those mattresses. Also, the local banks are on a huge promotional crusade as well to attract Iraqis to deposit their IQD in the banks by giving them attractive deposit rates etc.... 

in my humble opinion, this is a good thing, allowing these banks to sell dollars, meaning, they wish to,  accelerate the process of bringing in the CHUNKY MONEY quicker then the current process. When we look at the big picture, Iraq has one of the most modern banking systems around, WHY? The infrastructure for a war torn country is basically back on line rather quickly, WHY. The world is on board to bring back Iraq to its former glory, WHY  and, on and on.....

Hang tight my friend, this journey was not meant to be easy, Iraq is on target to re value it’s currency, and with a little more patience, we will see this to the end. 

Good eyes wiljor

[Officiallytook]

Basically, allowing all banks and people all over Iraq trade dollars not only with the CBS and those banks associated...much like here in the states we can trade up practically anywhere...so this can only be a good thing...I was thinking stopping the actions all together but this would have to be in place before that could happen huh

[3n1]

another tool in the cbi toolbox ... lets go 

[NEPatriotsFan1]

2 hours ago, Wiljor said:

 

NEPatriotsFan1, good morning and a super day out to you. 

Perhpas, look at this from a different perspective, we can only speculate the actual number of Dinar in circulation today. Regardless of the number, we know that they must continue to have currency auctions, and, continue to dollarize the country in order to reduce the IQD floating around¡ and stored under all those mattresses. Also, the local banks are on a huge promotional crusade as well to attract Iraqis to deposit their IQD in the banks by giving them attractive deposit rates etc.... 

in my humble opinion, this is a good thing, allowing these banks to sell dollars, meaning, they wish to,  accelerate the process of bringing in the CHUNKY MONEY quicker then the current process. When we look at the big picture, Iraq has one of the most modern banking systems around, WHY? The infrastructure for a war torn country is basically back on line rather quickly, WHY. The world is on board to bring back Iraq to its former glory, WHY  and, on and on.....

Hang tight my friend, this journey was not meant to be easy, Iraq is on target to re value it’s currency, and with a little more patience, we will see this to the end. 

Thanks for screwing my head on straight! You make a very estute observation! Have a great day my Dinarian brother! 😀