Cabinet approved the Commission to Study the fluctuation of the exchange rate of the Iraqi dinar
Cabinet approved the recommendations of the Commission to Study the fluctuation of the exchange rate of the Iraqi dinar in coordination between the central bank and the Council of Ministers
Tuesday 16 October 2012
Baghdad – and babysit – Council of Ministers approved, during its regular 45-day Tuesday, the recommendations of the study fluctuation Iraqi dinar exchange rate, which is coordination, consultation and exchange of information between the Central Bank of Iraq and the Council of Ministers on fiscal and monetary policies in accordance with the Constitution.
A statement by the spokesperson Ali al-Dabbagh, received news agency public opinion (and babysit) on Tuesday: The meeting of the Council of Ministers has approved the recommendations of the study fluctuation Iraqi dinar exchange rate is coordination, consultation and exchange of information between the Central Bank of Iraq and the Council of Ministers on fiscal and monetary policies in accordance with the Constitution, with the Central Bank of Iraq to study the methods used currently in the delivery of foreign currency to the domestic market and a greater role for banks and better organization of the process stages all interest other mechanisms possible to regulate the exchange rate so as to prevent the use of funds for purposes other than the declared and build a complete management and integrated office-money laundering and combating Financing of Terrorism “body-money laundering”, and the emphasis on the bill its own with interest in the development unit of money laundering in the Central Bank of Iraq and taking suggestions Bank into consideration on the formation of the anti-money laundering, and the formation of a committee headed by a representative of the Office of Financial Supervision and the membership of representatives of the ministries of interior, finance and trade The Central Bank of Iraq and the General Secretariat of the Council of Ministers shall audit and review processes sell the currency for the purpose of locating bugs if any and the strengths and weaknesses and how to take advantage of the amounts sold and fits in with the quantity of goods and services within and propose actions to reduce leakage rates for a purpose other than the aforementioned.
As well as the formation of a committee headed by a representative of the Iraqi Central Bank and the membership of representatives of the ministries of interior, finance and trade shall exchange information on the movement of currency sold by the CBI and the database configuration for use in the control of the currency movement and provides CBI quarterly report on its supervision on the banking companies approved transfer outside with an emphasis on the oversight role of the BSA in check transactions sell the currency to customers and goods entering result and provides the central bank study to the Committee on Economic Affairs on authorized government and private banks validity opening credits for the purposes of covering trade import the private sector also provides the Central Bank report for the development of banks to do its appropriate and consistent with the financial volume of the Iraqi economy with the necessity of regulating trade and followed up by the government agencies which will reflect the request of the foreign currency and the reference to the general situation, particularly political and economic, investment and stability, and that makes the outcome Iraq a magnet for foreign currency and thus improves the Iraqi dinar price sustainably .
He urged the central bank to study its law and constitutional according to the data, which came after the issuance of the law in force towards enhancing its potential and development work.
The statement added: that the meeting included modified Cabinet decision No. 346 for the year 2011 on the subject of building schools instead of ramshackle different capacities manner turnkey construction الكونكريتي in Anbar and Baghdad / Karkh “First, second and third” and the number 132 school and forwarding the contractor to Al Fao General and the British company “Tak Surf Assets,” according to the participation contract signed between them.
The statement noted: the Cabinet session saw the adoption of the recommendation of the Committee on Economic Affairs on the Ministry of Commerce contracted with pro General Trading UAE as agent authorized to Gulf sugar Emirati exception of paragraph 1 of Council of Ministers Resolution No. 37 of 2011 and approved by the Ministry of Commerce to buy amount of 300 thousand tons + 5% of sugar for a total amount of $ (222.9) million, nine hundred dollars on the basis of (CIF) basis to the Council of Ministers No. 372 for the year 2011 to pay a bank guarantee or a letter of guarantee in the amount of 10% of TBI (TBI ).
The statement said: that Almjbs agreed to allocate an area of 100 acres of land in sequence “1/17 m 21 Kamirh / Baghdad” to the Ministry of Youth and Sports for the purpose of construction of a sports stadium by capacity 30 000 spectators and change their use of FA agricultural to OS courts.
The statement continued: As has been approved by the Ministry of Finance to pay the salaries of staff in the Office of the League of Arab States in Baghdad and $ (25) thousand dollars per month from the emergency reserve allocations for fiscal year 2012.
And between the statement: The Council of Ministers agreed to open a trade office in Istanbul is its association بالملحقية Iraqi trade in Ankara because it is important in providing services to merchants and businessmen and facilitate ratification commercial transactions and based on the provisions of Article 26 of the Foreign Service Act No. 45 of 2008 with the Ministry of providing financial allocations needed to open the above-mentioned office.
The statement noted: that the meeting saw the adoption of the recommendations contained in the minutes of the meeting expanded on the mechanism of receipt dates, storage, processing and marketing in 2012 commissioned Ministry of Agriculture receipt dates in 2012 and purchased from producers “peasants and farmers,” according to the following prices Dates First Class “450” thousand dinars and Dates Class The second “350” thousand dinars for each ton with the establishment of a delivery period of this year from 10/01/2012 to 31/12/2012 and begin selling in 10/01/2013 with the allocation of the necessary funds for the purchase of dates from farmers and the Ministry of Agriculture after the completion of delivery on time of the aforementioned sale of dates stored in the warehouses of the Iraqi company for manufacturing and marketing of dates for her exclusively in accordance with the rates following dates first class “350” thousand dinars and Dates second-class “250” thousand dinars and that for every ton with the formation of a supervisory committee shared between the Ministry of Agriculture and branches Office Inspector General in the provinces with the Iraqi company for manufacturing and marketing of dates takes care of the coordination, management and supervision of the process of receiving dates and direct the operations of storage dates in warehouses of the Ministry of Agriculture and the Iraqi company for manufacturing and marketing of dates and names manufacturers and marketers and exporters with providing their papers during the receipt dates in order to limit the sale to registered with the Ministry of Agriculture with the Ministry of Commerce to establish a system export scheduled pumping date exports to ensure maintaining prices export outside Iraq with Note make way for Iraqi dates for entering global markets flow to be determined demand as the Ministry of Agriculture to sell dates stored has to manufacturers, marketers and exporters, without bidding According to the powers granted to the Minister in accordance with the law No. 32 of 1986 with the note that the dates of perishable materials and delay competitive loses its value.
The statement added: The Council of Ministers approved the axis of agriculture, service and production, and includes support producers and provide agricultural inputs to palm groves in order to achieve the province to grow palm trees and raise their numbers cultivated and improve the productivity of dates and launch a strategic plan to re-classification and order of the classes, dates and support items that have an economic feasibility and launch awareness campaign guidance for the cultivation of varieties desired in global markets and an extension programs of education and training in the field of agriculture and service palm production and marketing of dates and assistance in finding formulas cooperative occasion of the founding of organizations associations specialized producers and marketers of dates and encourage investment in the field of agriculture and service palm as well as the axis of prices and marketing operations in the orchards and Allawi and centers delivery It includes improving and strengthening procedures support prices, dates and advertised early and appropriate for producers to encourage them to care for palm trees and date production and access to remunerative prices relatively as in years 2008 – 2011 and to address the problems and obstacles facing the process of harvesting and collection and cleaning, packaging, storage, and processing of dates within orchards small producing and processing problems and obstacles facing the process of storing dates in centers marketing and also focus manufacturing and CBS dates and includes re-advancement of the manufacturing dates, and investment of this national wealth and activate the reality of the CBS dates and marketing operations to help associated and directing attention to the activities of packaging dates and their importance in raising the value-added of the dates involved and the suitability of the taste of human and in accordance with the requirements of the domestic and global markets and keep pace with progress in packaging materials and place and the necessary equipment.