Central: We will launch currency bonds by March

Central: We will launch currency bonds by March

02/27/2016 18:08

Central - We will launch currency bonds by MarchBAGHDAD / obelisk: detecting the central bank on Saturday announced the launch of the sale of government bonds through next March, while calling for the integration of private banks to reduce their number to match the actual need for stressing the importance of an auction sale of foreign currency to maintain the stability of the dinar exchange rate.

This came during a speech the central bank governor on the Keywords in a seminar hosted by the Strategic Policy Institute, in Baghdad, attended by local media and I followed “obelisk”

The governor of the central bank, said that “the central bank’s strategy for the years 2016- 2020 will witness a qualitative leap,” noting that “the percentage of Iraqis who use the banking system as it is ambitious amounting to only ten percent.”

He pointed Keywords, for “launch the first government bonds traded through next March,” returned to “the auction of foreign currency is not a waste of public money or smuggled to him.”

He warned the Keywords, of “restrictions on the sale of the foreign operation,” noting that it “will lead to the lifting of the dollar’s exchange rate against the dinar.”

He said, that “the presence of more than fifty banks in Iraq, a significant number,” calling for “the integration of the private banks to reduce their number in proportion to the actual need.”

And between, that “the banks that granted the license recently will not enter sell the currency effect only after years and the investigation of the practice and commercial banking, real,” pointing out that “the central bank obliged to grant Muaqath to open new banks as long as it achieved the necessary conditions and guarantees.”

Keywords acknowledged, as “there are many problems in banks when retrieving loans of citizens,” noting that “the loan guarantees are given real estate, and when delayed or beneficiary refuses to repay the resort to book estates come up against the intervention of the clans that prevent it.”

He pledged that “the bank restores all amounts deposited by citizens in the Rafidain and Rasheed bank branches and seized by the terrorist organization Daash in Nineveh province after its liberation.”

The Governor of the Central Bank and the agency, said in the 15th of February 2016 for the current Bank to sell bonds to the public torque worth seven trillion dinars during the current year.