Press release about the foreign reserves performance report for 2019

[6ly410]

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.
 https://cbi.iq/news/view/1431
The Central Bank of Iraq
information Office
02/20/2020

 

Edited February 20, 2020 by 6ly410

[Laid Back]

Hard currency reserves growing, Gold reserves growing, Investment portfolio growing, low inflation....CBI is moving towards an open market economy 
 

Go CBI 

Go international 

Go open market economy 

Go dinar real value 

[6ly410]

The foreign reserves of the Central Bank of Iraq are growing in 2019
Articles
Samir Al-Nassery
http://economy-news.net/content.php?id=19106

The Central Bank of Iraq issued a press release on the annual report on the performance of foreign reserves for 2019 in line with the strategy and the principle of disclosure and transparency that the Central Bank is working on in international banking transactions. Where the annual report shows that foreign reserves achieved a growth of 5.52% compared to 2018.
At the level of investment portfolios, their value achieved a net growth of 18.4% compared to 2018, accompanied by a growth in returns to investment portfolios by 59%.
The statement pointed out that the gold reserves had achieved 18.8% growth, and Iraq ranked 38 globally and 5 Arabs, with a total balance of 96.3 tons.
The annual report for 2019 also confirmed that the growth rates achieved in foreign reserves were in line with the central bank's plan to enhance returns and build capacity in the field of self-management of reserves. Therefore, during the year 2019, the bank established international banking relations and entered into agreements and memoranda of understanding with international banks classified and institutions Solid finance, the International Bank for Reconstruction and Development, the Arab Monetary Fund and international institutions concerned with investment management.
This has had a great impact on achieving economic resilience and, consequently, the financial victory in complex circumstances that have continued over the past five years.
The follower and the specialist are well aware that access to these rates of foreign reserves is due to the central bank adopting safe investment policies, which strengthened the credit position internationally and restored confidence in the Iraqi economy and its international banking relationships.
In addition, what the Central Bank accomplished in 2019 confirms the integrity and success of its strategy for the years (2016-2020). And achieved from the achievements in the financing activity and activating its initiative to finance small and medium projects and raising the loan ceiling to one billion dinars for each project within the initiative’s goals in stimulating the economic cycle and supporting the implementation of the objectives of the desired economic reform and strengthening the economy and achieving the goal of banks as a development lever.
Therefore, the bank is currently working on direct Islamic financing for government and private banks. In addition to that, the implementation of societal initiatives is expanded from the Fund for Empowering National Effective Experience in integrating the banking sector with society and achieving the goal of social, economic and humanitarian banks.
The clear evidence that can never be covered is the continuation and perpetuation of the stability of the exchange rate over a period of two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank, with its distinguished and national work team, was able to achieve its goals set out in its Law 56 of 2004, which is to build foreign reserves, reduce inflation and maintain The stability of the exchange rate. The Central Bank is currently actively and efficiently achieving the goals of strengthening the economy and banks for development.
Views 134 added date 02/20/2020

Edited February 21, 2020 by 6ly410

[horsesoldier]

Well,  can’t speak to my bank account growing.....hurry up !!!!!

[6ly410]

The Central Bank concludes the e-clearing system course

23rd February, 2020

The Central Bank of Iraq concluded a course entitled (electronic clearing
system C-ACH ) on February 20 , 2020 organized by the Center for Banking
Studies in this bank.

The course aimed to provide bank employees with comprehensive knowledge
about the clearing system approved by the Central Bank of Iraq, and 31 trainees
from government and private banks participated in the course.

The Central Bank of Iraq

information Office

2/23/2020

https://cbi.iq/news/view/1432

 

Edited February 24, 2020 by 6ly410