The Central Bank calls for the establishment of a sovereign fund "after the financial abundance"

[yota691]

 

The Central Bank calls for the establishment of a sovereign fund "after the financial abundance"

 

 2022-07-12 05:53

 

Shafaq News/ The Central Bank of Iraq called for the establishment of a sovereign fund, after the financial abundance, while it was considered that the currency auction is a channel to provide hard currency for the imports of foreign traders.

The Deputy Governor of the Bank, Ammar Khalaf, said in an interview with Shafak News Agency, "We call for the necessity of establishing a sovereign fund, especially to benefit from the financial abundance of the state."

He added that "the decision to establish such a fund remains affiliated with the Iraqi government and the Ministry of Finance in the first place," noting that "it is possible for the central bank to contribute to the management of this fund."

On the other hand, Khalaf considered that "the currency auction is a channel for providing foreign currency for traders to cover their imports of foreign goods, in addition to covering travelers' expenses through banks and exchange companies."

 

Iraq is one of the countries that benefited most from the rise in oil prices globally during the past months, and the reason is that most of Iraq's financial resources come from oil.

Iraq's oil revenues amounted to 11.4 billion dollars last May, and last June 11.5 billion dollars.

[6ly410]

The Central Bank calls for the establishment of a sovereign fund to benefit from the financial abundance

https://economy-news.net/content.php?id=28885

money and business
   

The Central Bank of Iraq called for the establishment of a sovereign fund, after the financial abundance, while it was considered that the currency auction is a channel to provide hard currency for the imports of foreign traders .

The Deputy Governor of the Bank, Ammar Khalaf, said in an interview with Shafak News Agency, "We call for the necessity of establishing a sovereign fund, especially to benefit from the financial abundance of the state ."

He added, "The decision to establish such a fund remains affiliated with the Iraqi government and the Ministry of Finance in the first place," noting that "it is possible for the central bank to contribute to the management of this fund ."

On the other hand, Khalaf considered that "the currency auction is a channel for providing foreign currency for traders to cover their imports of foreign goods, in addition to covering travelers' expenses through banks and exchange companies ."

Iraq is one of the countries that has benefited most from the rise in global oil prices during the past months, and the reason is that most of Iraq's financial resources come from oil .

Iraq's oil revenues amounted to 11.4 billion dollars last May, and last June 11.5 billion dollars .

 

 

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146 . views

Added 07/12/2022 - 4:40 PM

Update 07/13/2022 - 4:30 PM

 

[horsesoldier]

A " legitimate "slush fund...how clever.

[Laid Back]

Attn: Central Bank of Iraq 🇮🇶 
 

 My name is Laid Back, please include me in the sovereign fund for

financial abundance.

 

Greetings, LB  

 

[DoD]

Picture this if you will:

Al-Maliki becomes PM, then he replaces the CBI governor with one of his own crooks which then he has control of all the oil money. 
I don’t think Al-Sadr would ever let it get that far but you never know, this is Iraq….

[screwball]

al malaka will not be PM....they have one.

[screwball]

financial abundance with a worthless currency....not for long..

[screwball]

so Zimbawe moves to gold backed and Iraq???

[yota691]

economic news 

Aware / The Central Bank calls for the establishment of a sovereign fund after the financial abundance

 July 12, 2022 25 Views

conscious / follow

The Central Bank of Iraq called for the establishment of a sovereign fund, after the financial abundance, while it was considered that the currency auction is a channel to provide hard currency for the imports of foreign traders.

The deputy governor of the bank, Ammar Khalaf, said in an interview that was followed by (the Iraqi Media News Agency / INA), "We call for the need to establish a sovereign fund, especially to benefit from the financial abundance of the state."

He added that "the decision to establish such a fund remains affiliated with the Iraqi government and the Ministry of Finance in the first place," noting that "it is possible for the central bank to contribute to the management of this fund."

On the other hand, Khalaf considered that “the currency auction is a channel for providing foreign currency for traders to cover their imports of foreign goods, in addition to covering travelers’ expenses through banks and exchange companies.”

Iraq is one of the countries that benefited most from the rise in oil prices globally during the past months, and the reason is that most of Iraq's financial resources come from oil.

Iraq's oil revenues amounted to 11.4 billion dollars last May, and last June 11.5 billion dollars.

[mally2]

11 hours ago, screwball said:

so Zimbawe moves to gold backed and Iraq???

Zimbawe announced they will sell gold coins, 1 troy ounce. Thats not backing their currency with gold and certainly no one is going to be using 1 ounce gold coins for anything other than saving. 

[screwball]

14 hours ago, mally2 said:

Zimbawe announced they will sell gold coins, 1 troy ounce. Thats not backing their currency with gold and certainly no one is going to be using 1 ounce gold coins for anything other than saving. 

they will as will all countries...watch and learn we will be back on gold standard by September, October possibly the latest!

[screwball]

everyone knows that USD treasury bills are no long accepted by foreign exporting countries in trade....stopped in late 2021 according to my sources....

[screwball]

how many countries have soveriegn wealth funds????

[screwball]

I know the biggest is China I think?

[6ly410]

Central Bank sets goal of call for sovereign fund

Economic Agency News - Central Bank sets the goal of its call for a sovereign fund (economy-news.net)

 

Economy News - Baghdad
The Central Bank of Iraq on Monday clarified the purpose of its call for a sovereign fund.

"The bank's management has called for the allocation of a sovereign fund to take advantage of the state's financial abundance," said Deputy Governor Ammar Khalaf, adding that "the sovereign fund's decision belongs primarily to the Iraqi government and the Ministry of Finance."

"The central bank is contributing to the management of this fund," Khalaf told the official news agency.

 

 

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Views 18

Add 2022/07/18 - 6:16 PM

Updated 2022/07/18 - 6:52 PM

[6ly410]

The Central Bank of Iraq sets the goal of the currency sale window

 

 

news source /Mawazine News

The Central Bank of Iraq sets the goal of the currency sale window - Iraq News (iraqakhbar-com.translate.goog)
|  06:08 – 18/07/2022
Baghdad - Mawazine News
The Central Bank of Iraq clarified, today, Monday,
the purpose of its call to establish a sovereign fund, while noting that the currency sale window was found to facilitate
the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf,
said, "The bank's management called for the necessity of allocating a sovereign fund to take advantage of the financial abundance of the
state," explaining that "the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of
Finance, in the first place."
Khalaf added, "The Central Bank contributes
to the management of this fund."
Concerning the currency sale window, the deputy governor confirmed
that “the currency sale window was found to facilitate the financing of foreign trade in the main.”
He stressed, "Exports of currency are an economy
It mainly depends on import, which is a channel for providing foreign currency in order to provide
goods and services, in addition to selling currency to citizens through banks and exchange companies.” finished 29/h

[horsesoldier]

The financial abundance...with ALL the advertisement of financial abundance in Oil revenue, Lots O Gold & Foreign currency, NUMEROUS natural resources UNTAPPED mind you and begging to be TAPPED, etc. etc. etc.... they're still pushing ( possibly ) no change to the IQD until 2025 ??? { the White Papers-looks more like Charmin }.

Then there's the other play of throwing out all this cryptic dollars/IQD change " soon " must do it now " ... If they're out to confuse & confound they're doing a bang up job to that end.

...and now back to baseball ⚾.

[yota691]

The Central Bank clarifies the mechanism for establishing the Sovereignty Fund and talks about the “currency auction”

2022.07.18 - 18:23

 

Baghdad - people  

Today, Monday, the Central Bank said that the window for selling the currency was found to facilitate the financing of foreign trade in the main, explaining the mechanism for establishing the Sovereignty Fund.   

  

  

The Deputy Governor of the Central Bank, Ammar Khalaf, said, in a statement to the official agency, and followed by “Nas” (July 18, 2022): “The bank’s management called for the necessity of allocating a sovereign fund to benefit from the financial abundance of the state,” explaining that “the decision of the sovereign fund is affiliated with the Iraqi government.” and the Ministry of Finance, primarily.  

Khalaf added, "The Central Bank contributes to the management of this fund."   

On the currency sale window, the deputy governor confirmed that "the currency sale window was found to facilitate the financing of foreign trade in the basic degree."  

  

He stressed, "Exports of currency are an economy that depends primarily on imports, and it is a channel for providing foreign currency in order to provide goods and services, in addition to selling currency to citizens through banks and exchange companies."  

[yota691]

The Central Bank of Iraq: The call for the establishment of a sovereign fund aims to benefit from the financial abundance

Central Bank of Iraq

 July 19, 2022 11:40 AM

Mubasher: The Deputy Governor of the Central Bank of Iraq, Ammar Khalaf, said that the aim of the call for the establishment of a sovereign fund came to benefit from the financial abundance of the state, while noting that the currency sale window was found to facilitate the financing of foreign trade in the main.

Khalaf added in a statement to the Iraqi News Agency (INA), that "the decision of the Sovereign Fund is dependent on the Iraqi government and the Ministry of Finance, to the main degree," noting that "the Central Bank contributes to the management of this fund." 

He stressed, "Exports of currency are an economy that depends on imports, and it is a channel for providing foreign currency in order to provide goods and services, in addition to selling currency to citizens through banks and exchange companies."

[yota691]

The Central Bank of Iraq sets the goal of the currency sale window

Economie| 06:08 - 07/18/2022

 

 

 

 

Baghdad - Mawazine News
The Central Bank of Iraq clarified, today, Monday, the purpose of its call to establish a sovereign fund, while noting that the currency sale window was found to facilitate the financing of foreign trade in the main.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, "The bank's management called for the necessity of allocating a sovereign fund to take advantage of the financial abundance of the state," explaining that "the decision of the sovereign fund is dependent on the Iraqi government and the Ministry of Finance in the basic degree."
Khalaf added, "The Central Bank contributes to the management of this fund."
On the currency sale window, the deputy governor confirmed that "the currency sale window was found to facilitate the financing of foreign trade in the basic degree."
He stressed, "Exports of currency are an economy that depends primarily on imports, and it is a channel for providing foreign currency in order to provide goods and services, in addition to selling currency to citizens through banks and exchange companies." finished 29/h

[DoD]

I’m not sure if Iraq is at that stage yet of creating a sovereign wealth fund. There is still too much corruption in the so-called government to have that kind of money available. Being the state owns the fund and you have a Maliki or one of his cronies running the government, there goes your wealth fund. 
Most of the countries surrounding Iraq has a sovereign wealth fund, even Iran so that tells you how far behind that country really is…

[boosterbglee]

Maybe they should have done this 10 years ago!

[horsesoldier]

Their maniacal desire for wealth & power blinds them to all else. There's no real plan for the future of Iraq with these psychopaths. 

Something very dramatic must happen and soon, if Iraq has any chance of joining the the global market place in any other terms than that of a bankrupt nation with outstretched begging hands.

[screwball]

Rate will change in September, yep I am calling it when the system worldwide resets back to gold standard Iraq rate will change 

[Floridian]

11 minutes ago, screwball said:

Rate will change in September, yep I am calling it when the system worldwide resets back to gold standard Iraq rate will change 

 

How do you know they will reset back to the gold standard in September?  

Did you read it somewhere?  If so, where?  I'd love to see it for myself.

Hope it's true because our money is just worthless paper now.