More than 5 trillion dinars value auctions
More than 5 trillion dinars value auctions
1/13/2015 0:00
BAGHDAD – Mostafa Hashemi
at a time when the Iraqi Central Bank announced its plan to issue Hawwalath of the order of 91 days for this year worth more than 5 trillion dinars, a banking consultant confirmed that the sale of remittances represents one means of monetary policy taken by the bank to deal with the levels of liquidity on a temporary basis, as well as It is a free investment risks making them play an active role in the secondary market.
Dr. Essam Mahouelle “said the central bank keen on the implementation of monetary policy and invest their tools, including the Iraqi economy to serve in general.”
He added Mahouelle told the “morning”: ” The sale of the Central remittances of monetary policy aimed at the cluster of cash outside the banking sector absorption, transformation and directed to the banking system tools for intervention credits granted by banks to serve the country’s economy and contribute actively in the development process. ”
and “The remittances is a bond between the two due for repayment between three months and full year which leaves non-interest bearing, but sold a certain discount to their face value and gives the government the relatively low interest cash compared to the price prevailing on the bank loan interest rates because of the severity of the liquidity of these stemming from the possibility deducted cases before the date of maturity at commercial banks. ”
so Iraqi Central Bank announced its plan to issue Hawwalath of the 91-day auctions held in the bank’s headquarters in the Bank conducted the first auction for the sale of Hawwalath type C of the 91-day and $ 200 billion dinars in the plan to be issued during the current year.
A source at the bank “morning” completed auctions Bank sell 140 billion and 750 million dinars at a price of multi-utility and the highest discount rate (5 percent).
remittances of order
and said: Take part in the auction 5 beneficiaries represented by four banks in addition to the care of minors circle, indicating that the circuit won Basdaria amounts provided by.
He stressed that the central bank announced his plan to issue Hawwalath the 91-day which included a 26 auction rate auctions in every month except March monthly and September, which is scheduled to witness the establishment of three auctions to sell money orders.
He pointed out that the amount of emissivity remittances 200 billion dinars for each auction, indicating that the total amount of Asdaria total 5 trillion and 200 billion dinars.
The sale transfers the central bank to the government departments and banks, one of the monetary policy pursued by central to regulate levels of liquidity and control tools, as well as the achievement of financial benefit to government departments to participate in these auctions through interest and discount those Alhawwalat.kma prices The central bank sold Hawwalath to private banks and the amounts ranging between 100 to 150 billion dinars a week or duration more than that, and the price of a multi-utility highest discount rate of 5 percent for the purpose of controlling the levels of liquidity.
The central bank carried out last year’s 26 auction also the same value mentioned, is also worth noting that the auction remittances C is uniform price auction with a nominal value of 200 billion dinars.
alsabaah.iq
