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Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries


yota691
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  • yota691 changed the title to Governor of the Central Bank: Reserves are re-increasing
 

The governor of the Central Bank of Iraq, Ali Alalak, the rise of Iraq’s foreign currency reserves to 51.5 billion dollars.
Al-Alak said in a meeting with a number of editors of local newspapers and news agencies that “foreign reserves rose this year to 51.5 billion dollars because the central bank did not buy treasury bills,” adding that “the central bank has gone a long way in the management of foreign reserves and began to generate returns Finance by investing gold abroad. ”
He pointed out that “the central bank was able to restore the independence lost since 1980 to the government in addition to controlling inflation, which reached 40% before 2003 and now 4%.”
“The stability of the banking sector is an essential objective to achieve financial stability and curb inflation,” he said.
He continued that “the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly 14 trillion dinars did not face any violations.”

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6 hours ago, Pitcher said:

He continued that “the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly 14 trillion dinars did not face any violations.”

 

SMOKIN'!!! :cigar:   :cigar:   :cigar:

 

Looks like they are primed and ready to go with the real time financial transactions flawlessly!!! :twothumbs:   :twothumbs:   :twothumbs:

 

Go Moola Nova (YEAH, BABY!!!)!!!

:pirateship:

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6891-1-696x522.jpg

Information / Baghdad

The governor of the Central Bank of Iraq, Ali Alalak, on Monday, the rise of Iraq's foreign currency reserves to 51.5 billion dollars.

Al-Alak said in a press statement that "foreign reserves rose during the current year to 51.5 billion dollars because of the failure of the central bank to buy treasury bills," adding that "the central bank has gone a long way in the management of foreign reserves and began to achieve financial returns through investment Gold abroad ".

He pointed out that "the central bank was able to restore the independence lost since 1980 to the government, in addition to controlling inflation, which reached 40% before 2003 and now 4%."

"The stability of the banking sector is an essential objective to achieve financial stability and curb inflation," he said.

He continued that "the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly 14 trillion dinars did not face any violations." End 25 n

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9 hours ago, jb4388 said:

, Al-Alaq said that “the subject of deleting zeros from the currency is ready but needs a suitable environment to be applied to prevent manipulation and fraud by the owners of vulnerable souls,”

 

No mention of political & economic stability. No mention of security. 

 

I think this time they are ready. Really ready. :eat:

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I’m not gonna lie, I’m gettin’ a little 😭 at the thought of this ride coming to an end......

 

I’ve spent so many years being frustrated..... 

so many mornings reading over the Iraqi news.....

so many countless nights checking the CBI website......

 

What am I gonna do with all my free time since I won’t have to go to work anymore either!? 

 

Any Suggestions are welcome :)  

 

Except from Thug..... ;) lol

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asdv2-696x464.jpg?x33059
 Media treasures - economy   

 
The governor of the Central Bank of Iraq, on Monday, the rise of Iraq's foreign currency reserves to 51.5 billion dollars.

"The foreign reserves rose during the current year to 51.5 billion dollars because of the non-purchase of the central bank for remittances of the Treasury," Al-Aalak said in a statement.

"The central bank has gone a long way in managing foreign reserves and we are starting to generate financial returns by investing gold abroad."

"The central bank has been able to regain its independence since 1980, as well as controlling inflation, which reached 40 percent before 2003 and now stands at 4 percent," he said.

He pointed out that "an international company has audited the accounts of Rafidain and Rashid to re-structure and formed a committee headed by the Governor of the Central Bank for the purpose of privatization of the banks."

"The stability of the banking sector is a key goal to achieve financial stability and curb inflation, and the system of payments in the Central Bank is one of the most advanced systems in the world and estimated transactions carried out monthly by 14 trillion dinars without facing any breaches ss 

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4 hours ago, zul said:

 

No mention of political & economic stability. No mention of security. 

 

I think this time they are ready. Really ready. :eat:

Good morning, Zul. I agree with you. When the governor of the CBI says "delete the zeroes is ready" and waiting for vulnerable souls to be taken care of, I take that as an educational program needs to be implemented for the poor and uneducated that will teach them about the what the program is and what their money is now worth so that they are not taken advantage of in the marketplace. If that is true, that is a short time frame to educate folks. IMO wye are looking good.

 

Let's not forget the article a few days back that said foreign security companies were hired to protect banks, important people, and precious goods.

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53 minutes ago, Carrello said:

Good morning, Zul. I agree with you. When the governor of the CBI says "delete the zeroes is ready" and waiting for vulnerable souls to be taken care of, I take that as an educational program needs to be implemented for the poor and uneducated that will teach them about the what the program is and what their money is now worth so that they are not taken advantage of in the marketplace. If that is true, that is a short time frame to educate folks. IMO wye are looking good.

 

Let's not forget the article a few days back that said foreign security companies were hired to protect banks, important people, and precious goods.

If I could give you 10 greenies on this comment, I would 😊😊. The news recently is very very encouraging, can’t help but be excited a bit. 

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2 hours ago, Carrello said:

Good morning, Zul. I agree with you. When the governor of the CBI says "delete the zeroes is ready" and waiting for vulnerable souls to be taken care of, I take that as an educational program needs to be implemented for the poor and uneducated that will teach them about the what the program is and what their money is now worth so that they are not taken advantage of in the marketplace. If that is true, that is a short time frame to educate folks. IMO wye are looking good.

 

Let's not forget the article a few days back that said foreign security companies were hired to protect banks, important people, and precious goods.

 

That's it, Carrello.  Thanks!  I believe you are 100% correct.  "Vulnerable souls" need to be educated so that they don't get taken advantage of.

 

Now, how educated do they have to be?  And how long is it going to take to educate them?  At 1 Dinar to $1.00, they don't need much education.  The people are used to dealing in dollars.

If it's any odd amount other than $1.00, perhaps a lot of education will be necessary.

 

I hope they make it easy on the people.  :)

 

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4 hours ago, Carrello said:

Good morning, Zul. I agree with you. When the governor of the CBI says "delete the zeroes is ready" and waiting for vulnerable souls to be taken care of, I take that as an educational program needs to be implemented for the poor and uneducated that will teach them about the what the program is and what their money is now worth so that they are not taken advantage of in the marketplace. If that is true, that is a short time frame to educate folks. IMO wye are looking good.

 

Let's not forget the article a few days back that said foreign security companies were hired to protect banks, important people, and precious goods.

 

And I agree with you Carrello, totally. 

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Al-Alak said that the bank has also been interested in recent years in the development of public and private banking. He said that he has completed the infrastructure of the smart card system, which is now ready to deal with it even through mobile phones, Government has agreed to pay the salaries of employees through banks through special accounts of staff, noting that some ministries have begun using this system, and stressed that the Bank ‘s plan to modernize the currency in circulation and the deletion of zeros.
Al-Alak pointed out that the bank did not allow him in previous circumstances to play his role in stimulating the national economy, he is now working in this direction, referring to the initiative launched by the bank and the monitoring of 6 trillion and 500 billion dinars to lend to industrial and agricultural projects, including trillion and 500 billion JD for small projects.
The central bank governor said that the bank has also managed to address the situation of most of the troubled private banks and the troubled, noting that the large international banks seeking to work in Iraq and referring to what he called signs of the return of foreign investment to Iraq.
On the external debt, al-Aalak stressed that it is still acceptable, pointing out that the external debt is mostly inherited from the previous regime (41 billion dollars) while foreign debt in this era is 29 billion dollars and internal 42 billion dollars.

 

http://almadapaper.net/Details/209496

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  • yota691 changed the title to Report: Saudi Arabia seizes 48% of foreign currency reserves for Arab countries

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