The Central Bank obligates banks to meet with the contracting authorities contracted for the purposes of regulation
08/23/2017



The central bank on Wednesday ordered banks and remittance companies to meet with their consulting agencies for regulatory purposes.

The bank said in a statement that ‘to improve and achieve transparency in the work of Iraqi banks with the advisory bodies and in order to achieve the interest of the work, when the bank to contract with any consultant outside the bank to provide advisory services to him, the Central Bank is entitled to meet with this external consultant, whether before or after End Process’.

He added that ‘the objective is organizational matters for the purposes of discussion and review and identify the points to be highlighted and to see any priorities or reports requested by the bank’, indicating that ‘this comes in accordance with the provisions of Article 53 of the Law of Iraqi banks No. 94 of 2004’.

http://www.ikhnews.com/index.php?page=article&id=159182

… Iraq (CBI) currency auction on August 23 registered $164,564,938 in sales, a 2.60% volume increase from the US $160,395,885 sold by Iraqi Dinar, …

Rupee trades marginally lower against US dollar

Livemint5 hours ago

Mumbai: The rupee on Wednesday erased all the morning gains and was trading marginally lower against the US dollar, as traders avoided long positions ahead of a meeting of central bankers later this week.
The Association of Banks seeks to link local banks to the universal

08/22/2017

Mobility extended its dimensions to the major economies of the world adopted by the Association of Iraqi private banks through communication with the best international banks in the United States to develop the domestic financial sector and make it more sophisticated and rival banks of the region
And the world.

The Executive Director of the Association of Iraqi Private Banks Ali Tariq said: "Iraq, as all countries of the world have the size of large wealth and a large market for work to expand the global effort is not specified in various sectors of production and service, pointing out that many of the major companies around the world is considering that Iraq has a distinctive location starting For its production, which is marketed to the east and west of the globe.

Fast services said in an interview with «morning» that this great effort Acherth Association is aware that any major efforts need to be developed banking sector offers fast services and can handle large numbers using advanced technology that began to be adopted by our banks gradually and under the supervision of the Central Bank of Iraq , which gives this The joint is particularly important .
Experiences of banks

http://www.alsabaah.iq/ArticleShow.aspx?ID=143112

Half a trillion dinars to fill the temporary budget deficit







21/8/2017

Achieved auctions of treasury transfers until June ,
Baghdad / Mustafa al – Hashemi
auctions of treasury transfers made for the Ministry of Finance ‘s annual order, regulated by the Central Bank, amounts of money to reduce the budget deficit amounted to the first six months of this year , 520 billion and 430 million dinars.

The central bank, as the financial agent of the ministry to manage auctions of remittances based on the Public Debt Law, which authorized the Ministry of Finance to issue treasury transfers guaranteed by the government for the purposes of government funding to meet part of the temporary deficit in the general budget of Iraq.

According to the results of the auctions, which was announced by the Central Bank and followed by "morning" the first auction, within the plan of the Ministry of Finance to issue Treasury transfers for the current year, which was held in February, resulted in the sale of the full amount of 100 billion dinars.

As for the results of the second auction, which was held in March last year, the Central Bank said in a statement that the auction held on 22/3 resulted in the sale of the total amount of 200 billion dinars, while the Central did not announce the results of the third auction on 19/4 .

Iraq relies on fiscal and monetary policy instruments, one of which is the sale of domestic bonds to reduce the budget deficit through the Ministry of Finance’s 364-day annual remittances, supervised by the central bank, with the aim of withdrawing liquidity from outside the banking system to re-employ them in the
financial sector .

The auction of the fourth treasury transfers, which was held on the twenty-fourth of last May, the sale of the full amount of the reserves of 200 billion dinars.

On the 21st of June, the Central Bank organized an auction for the sale of treasury transfers for the 364-day period of 200 billion dinars, during which 120 billion and 430 million dinars were sold.

The Ministry of Finance announced its plan to issue treasury bills for the annual period (364 days) for the year 2017, which includes the establishment of 11 public auctions to sell these remittances to beneficiaries such as banks, social welfare services, retirement and minors.

According to the plan announced by the ministry and seen by "morning" the total amounts of the issuance of two trillions dinars is expected to be sold in full to meet the proportion of temporary deficit in the general budget

http://www.alsabaah.iq/ArticleShow.aspx?ID=142997

Euro to US Dollar: Forecast, News and Events Over Next Five Days

Pound Sterling Live16 hours ago

The Euro to US Dollar exchange rate has been correcting back further after comments from European Central Bank (ECB) officials stated that the strengthening currency might pose a risk to growth.
Euro to US Dollar: Forecast, News and Events Over Next Five Days

Pound Sterling Live5 hours ago

The Euro to US Dollar exchange rate has been correcting back further after comments from European Central Bank (ECB) officials stated that the strengthening currency might pose a risk to growth.