3 trillion dinars was re-employed in the banking sector
3 trillion dinars was re-employed in the banking sector
8/15/2015 0:00
BAGHDAD – Mostafa Hashemi
achieved implementation of a monetary policy tools, represented by auction remittances, by the Central Bank to redirect the amount of about 3 trillion dinars in the track planned by withdrawing liquidity from non-banking sectors and redirected to the banks for the purpose of the launch of the loans and the granting of advances as well as Banking other. The aim of selling the Central remittances to the money supply outside the banking sector absorption, transformation and direct them to the banking system for the intervention in credits granted by banks to serve the country’s economy and contribute actively in the development process and service Iraq’s economy. In this context, economic researcher verse just said: The central bank regulates well auctions to sell Hawwalath the 91-day amount emissivity 200 billion dinars for the purpose of withdrawing the money supply of non-bank to return to the banking sector in order to support the financing of different projects and investments carried out by a number of companies or citizens, as total cash in circulation in the market 35 cash trillion dinars, and this amount is too large, according to economist d. Hilal Taan. According to statistics, the “morning”, the total it sold Bank in an auction Hawwalath amounted to about two billion and 749 billion and 74 million dinars, up to August 4 within his plan assessments for the sale of more than 5 trillion dinars through the establishment of 26 auction remittances this year as completed, including sixteen auction so far, and at a rate of auctions in each month except last March monthly and September next, which is scheduled to witness the establishment of three auctions to sell money orders. She economic researcher that buy money orders by the relevant government circles retirement and minors and Social Security is an excellent investment and risk-free drives out to play an active role in the secondary market. It said, is the sale of remittances central bank to government departments and banks, one of the monetary policy pursued by central to regulate the levels of liquidity and control, as well as financial gain for government departments participate in these auctions through interest rates Tools and discount on those transfers. As the central bank to sell Hawwalath to private banks and be in amounts ranging from 100 to 150 billion dinars a week or duration more than that, and the price of a multi-utility highest discount rate reached a few months ago 5 percent for the purpose of controlling the levels of liquidity. The banking expert Dr. Essam Mahouelle said in an interview earlier “morning”: that of remittances is a bond between the two due for repayment between three months and full year which leaves do not bear interest, but are sold a certain discount to their face value and give the government the relatively low interest cash compared to the prevailing rate of interest on bank loans because of the severity of the liquidity of these stemming from the possibility deducted cases before the date of maturity at commercial banks. ” The central bank carried out last year’s 26 auction also the same value mentioned, is also worth mentioning that the auction remittances C is the auction of a uniform price with a nominal value of 200 billion dinars.
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