CBI INFO & IRAQI DINAR NEWS

Banking expert: Iraqi banks operate in a traditional

05/12/2012

Banking expert said: The Iraqi banking sector reflects the economic chaos in the country floating through the exercise of his work has traditionally been far from the technological development of modern banking and most of you are working with global banks .

The expert: the number of Iraqi banks that use electronic devices in the process of payment of salaries or transfer of funds of State very little, indicating that the process of converting the money to Iraqi banks directly is still the process is organized and often carried out through other banks in the region such as Read more…

Iraq’s current cash crisis: bubble or fleeting appearance of a deeper economic crisis?

Posted 12/05/2012 07:11 AM  Mustafa Karim *

Crisis has highlighted the current exchange rate and the need for a short pause to reflect on the conditions of the Iraqi economy. There is no doubt that the monetary crisis is a reflection of explicit crisis experienced by the overall economy memorandum imbalances structural deep. That Altekz to external causes (smuggling hard currency to Iran, Syria and others) is not sufficient in itself to interpretation, although his health partially, and in this regard, we note that the attacks foreign-oriented areas soft porous, otherwise why not go on offense to other markets saturated with hard currency such as markets Gulf? 
As these markets, organization and economies largely stable, the slumbering oriented economy is soft and the market is organized, and in this case the Iraqi market is the target.  Read more…

Deputy Governor of Central Bank: Development Bank of Warka is undecided and waiting for the report of the Central Financial Sgt.

On: Saturday 05/12/2012 12:04

Baghdad (news) .. Most likely the deputy governor of the Central Bank of the appearance of Mohammed Saleh, a report by Sgt financial on the status of the Warka Bank to the Central Bank during the next few days to know the status of the bank financial terms of its assets and financial liabilities of Foreign Affairs, to take legal action in the light of the report. 
Saleh said (of the Agency news) today Saturday: The matter is still undecided about the Warka Bank as a major bank and its operations are complex and evaluation of assets of financial need and a long time, and the central bank is Read more…

Iraq is allocated 122 billion Iraqi dinars for the research and development projects

Iraq is allocated 122 billion Iraqi dinars for the research and development projects

12/05/2012 16:08

Erbil, May 12 / May (Rn) – The Ministry of Higher Education of Iraq, Saturday, 122 billion Iraqi dinars for the research and development projects in configurations different. The Director of Information Department in the Ministry Qassim Mohammed Jabbar said in a statement that “the ministry has allocated within its budget investment for the current year 122 billion Iraqi dinars for projects research and development to allocate an annual rate of 14 billion. ” and that “research and development projects include the processing of scientific laboratories with modern equipment and the financing of the Read more…

Iraq: Allawi does not have the powers to give Kirkuk to the Kurds

Friday, May 11, 2012 15:43

BAGHDAD / Baghdadiya News / .. Denied the Iraqi List, the information you talked about the secret agreement took place between the existing leader Iyad Allawi and President of Kurdistan, the Kurds about Kirkuk and give the rest of the disputed areas, stressing that Allawi does not have the powers to give any part of Iraq for any party whatsoever.

The spokesman for the coalition in Iraq MP Maysoon al l / Baghdadiya News /, that “a comment on the news of a false published in the websites suspicious on Read more…

Project to delete the zeros will be launched in January

Project to delete the zeros will be launched in January

11/05/2012 11:58

Baghdad, May 11 / May (Rn) – The Iraqi Central Bank Governor Friday high reserve bank cash of $ 50 billion to 60 billion dollars, indicating that the process of deleting the zeroes will begin early next year. said Central Bank Governor Sinan Shabibi told the Kurdish news agency (Rn ) that “the reserves of Iraq cash rose to $ 60 billion after it was last year’s $ 50 billion.” He explained that “the central bank seeks through cash reserves to shore up confidence in local currency and increases the stability and regulates financial dealings in Iraq.” Regarding the project to delete the zeros said Shabibi that “the project to delete the zeros will be launched in Read more…

Member of Finance Committee: Procedure for sale of foreign currency the central bank to the interests of the Iraqi dinar Atsb

On: Friday 05/11/2012 11:13

Baghdad (news) .. Criticize a member of the Finance Committee in Parliament MP from / National Alliance / Amin Abbas, the measures taken by the Central Bank adopted for the sale of hard currency because it ascertains the balance between the Iraqi dinar and the U.S. dollar, through the presentation of quantities in the local market. 
The central bank took measures are complex and deliberate before in the process of selling the hard currency of the auction, where the condition of submission of import license and bank account and tax accounting for Read more…

CBI acknowledges the existence of an imbalance in the exchange rate and the deterioration of the value of the dinar denies

CBI acknowledges the existence of an imbalance in the exchange rate and the deterioration of the value of the dinar denies

11/05/2012 13:55

Baghdad, May 11 / May (Rn) – approved the Central Bank of Iraq Friday the existence of an imbalance in the Iraqi dinar exchange rate, confirming his quest to unify the exchange rate between him and the local markets, denying at the same time, any deterioration of the value of Iraqi dinar. The central bank was accused last week of four countries the “conspiracy” to hit the financial economy of Iraq to empty its market of its financial strength, indicating that the corridors of free trade in Iraq is becoming the means adopted to hit the economy. saw the price of the dollar relative to local currency increased during the last few days, which he Read more…

Independence of the central bank and international reserves and the general budget in Iraq

Independence of the central bank and international reserves and the general budget in Iraq

On: Tuesday 08/05/2012 19:22

Part III and final
Dr. Ali Mirza Fifth: Accumulated surplus of the general budget

A. I have taken the issue of estimating the balance of the budget surplus accumulated in Iraq stepped grants depends on the evidence from secondary sources or indirect, rather than on the official primary sources. At this time can be had for the Ministry of Finance published official figures on the surplus / deficit annual actual (not just planned in the annual budgets) and the addendum to draw from the balance of the surplus accumulated at the end of each year, the service of transparency, which will allow for those interested in evaluation and Read more…

The central bank provides the Finance Committee moves the currency switch

The central bank provides the Finance Committee moves the currency switch

05/09/2012
BAGHDAD / JD / .. urged the Parliamentary Finance Committee of the Central Bank to coordinate monetary policy with fiscal policy of the government to increase the mass of cash and how to preserve them, as discussed switching the currency and small categories and sizes. A member of the Committee and the National Alliance MP for Haitham al-Jubouri / JD / “The parliamentary Finance discussed with the Central Bank to increase its mass cash and that are maintained through cooperation with the Read more…

Calls for strengthening the independence of the Central Bank

Calls for strengthening the independence of the Central Bank

On: Friday 5/11/2012 6:00

Baghdad / range 
of new House Speaker Osama al call for the need for the independence of the Central Bank, as stipulated in the provisions of the Constitution and the law of the Central Bank, stressing at the same time, the Council rejected any kind of interference in the work of this institution.

And the transfer of a press release for the Presidency of the Council of Representatives received from Najafi as saying during a meeting of the Central Bank Governor Sinan Mohammed Rida Shabibi called to the need for Read more…

The spread of counterfeit currency exchange and the inability of security for risk reduction

The spread of counterfeit currency exchange and the inability of security for risk reduction

On: Friday 5/11/2012 6:19

BAGHDAD / Enas Tariq 
fear specialists in the economic aspect of the continued flow of counterfeit currency with the spread of gangs in the circulation areas of Baghdad for a financial commission which could not prevent the security forces of activities affecting the economic file, but despite these concerns, but that the central bank stressed that counterfeit currency receded significantly, and that the bank did not receive numbers only a few came to him from the government and private banks and the ratios fall within the known world.

And spread guerrilla promotion of counterfeit currency in particular in the Read more…

Criticized the work .. banking expert: Iraqi banks reflect the economic chaos prevailing in the country

Criticized the work .. banking expert: Iraqi banks reflect the economic chaos prevailing in the country

Date: Thursday, 10.05.2012 8:35

Baghdad (news) .. criticized the banking expert Mohsen Ali, the policy work of Iraqi banks in terms of the use of technology, modern banking, saying it reflects the economic chaos prevailing in the country. 
Ali (of the Agency news): The Iraqi banking sector reflects the economic chaos floating in the country through the exercise of his classic run on the development of technological modern banking and in which they operate most international banks. He explained: that the number of Iraqi banks that use electronic devices Read more…

CBI governor calls for financial representative to the non-interference in his work

09 May, 2012 07:12:24 Huda – Baghdad

Qald Vice Chairman of the Finance Committee MP Ahmed Hassan Faizullah that the committee held a meeting today Rabaa in the presence of the Governor of the Central Bank.

He touched on several topics of interest to the national economy and the Iraqi dinar, most notably preserve the value of the dinar against the dollar and how to work a project delete three zeros from the currency, indicating failure to reach any conclusion about those topics. Read more…

Economic parliamentary calls for reducing the dollar smuggling to neighboring countries

05/09/2012

David Muhannad. Asked a member of the parliamentary economic committee to form a joint committee between the Iraqi Foreign Ministry and the Central Bank and Finance Committees and the Parliamentary Economic addition to the Ministry of Finance to reduce the smuggling of foreign currency abscess Iraq. Dani said: the Iraqi economy in need of this Committee in order to have a commitment and a plan of action limit the dollar smuggling to neighboring countries in the region of Iraq. ” She added that

Read more…

Finance Committee calls for the central bank initiative to send a draft of its plan to delete the zeros from the currency to study

Tuesday May 8, 2012

Hosted by the Finance Committee under the chairmanship of Deputy Chairman of the Committee Haider Abadi, on Sunday, 6/5/2012 Dr. Shabibi Central Bank Governor and the delegation accompanying him in the presence of members of the committee and its advisers.

During the meeting, discuss the issues contained in the agenda and the most important measures the central bank to keep the Iraqi dinar exchange rate and currency Read more…

CBI, Finance Committee discuss fluctuation in IQD and dropping of zeros; CBI rejects tapping reserves or GOI intervention

Vice Chairman of the Committee of Finance: the dinar will not regain its natural road to the lack of a robust economy, On: Wednesday 09/05/2012 12:46

Baghdad (news) .. The Deputy Chairman of the Finance Committee MP / Kurdish coalition blocs / Ahmed Hassan overflow of God, that his committee proposed to the Governor of the Central Bank to act cash reserve is located from the dollar to maintain the value of Iraqi dinar, stressing that the Central rejected the proposal and the intervention of any point in his work. Read more…

CBI Deputy Governor: Resolve the contradiction between the country’s economy and the dominance of the free market?

09/05/2012 0:00

Lost in the equation of the Iraqi economy D. The appearance of Mohammed *

Not to the phenomenon of deterioration in the terms of the Iraqi dinar exchange rate in recent months after the end of spring stability experienced by the country over the past years is cut off from the causes, nature and methodology of the economic system in Iraq .. Valtrkibh current and even use the near and far that this economy strong rentier is working on two contradictory: first, an economy dominated by the 80 percent of gross domestic product, or the generation of national income not to mention his direct responsibility in the supply of 99 percent of inflows to the country’s foreign exchange which is linked to release cash to the Iraqi Central Bank and cash basis is directly related to the movement of these flows. Read more…

CBI raises interest rate to 16%

May 8 2012 11:18

Detect the Iraqi Central Bank for the high rates of inflation in the month of October increased by 2.7% from the previous month, pointing to the adoption of hard-line policy in the interest rates and submit them to the 16% to pay for commercial banks to make substantial modifications in the interest rates various bank to deal with this inflation. Read more…

New conditions for banking companies working in Basra

05/08/2012
 BASRA / JD / .. put the provincial council in Basra working conditions for companies and banking offices, including the approval of the Central Bank, and select mid-month deadline for receipt of papers and official approvals for companies which will be permitted to exercise banking business. The Chairman of the Development Committee in the province of Basra, Mahmoud Almksusi Agency / JD /, “The Council and the aim of providing protection and control of the economic activity of the province set conditions must be met in the banking companies operating in the province include the provision of Read more…