Iraqi Currency … Where Printed And How Much Cost?

Abha channel / follow-up
disclosure of MP Naji Radis Saidi, Sunday, the place where the printing of the Iraqi currency, pointing out that it cost 4 cents per paper.

Saidi said in a statement that "the central bank had previously printed banknotes of the Iraqi currency in Switzerland, but changed the place of printing is currently printed at the British Institute in London and is supposed to be specifications prevent damage.

"The cost of printing one banknote is between 4 and 5 US cents, and then the currency is transferred to Iraq," he said.

The director of the issuance in the Central Bank Ihsan al-Yasiri said that the Central Bank of printing a thousand papers of the category of 25 thousand dinars in Arson international companies at a cost less than $ 60,

adding that the bank will not spend considerable liquidity to print the new monetary categories because they cost little.…%D9%84%D9%81-/

The Central Bank requires commercial banks to comply with the capital adequacy standard

needful Central Bank of Iraq , Sunday, all commercial banks standard minimum capital adequacy limits.

"In order to keep abreast of developments in the global banking system and in order to reach the Basel Committee’s decisions , banks will have to adhere to the minimum capital adequacy criteria, " the bank said in a statement .

"Compliance with the minimum limits will be based on the method of calculation adopted in accordance with the conventional rules," the bank said.

The recent financial crisis of 2008 prompted specialists in 2010 to formulate a set of new standards and regulations called the Basel III Banking Supervision Regulations, which are the extension and development of the banking supervisory standards and rules for Basel II and Basel II,

and the addition of some new standards in an effort to avoid weaknesses And to cover the factors that led to that crisis in order to strengthen and strengthen the global financial system and strengthen the strength of the banking sector by adjusting the components of regulatory capital and capital adequacy ratio.…D9%81%D8%A7/ar

Negotiations to form a government .. "Asron" gets the post of governor of the Central Bank

BAGHDAD / A senior political
source said on Saturday that the post of governor of the Central Bank in the new government formation "resolved" a figure loyal to the leader of the Sadrist movement Moqtada al-Sadr, indicating that the agreement on the post was after talks between the coalition "Ssron" and Fatah.

The source said, "the eye of Iraq News," that "the negotiations and recent talks between the coalition and other Fatah led to an agreement between the parties to resolve the post of governor of the Central Bank of Iraq in the new government formation in favor of a close to Muqtada al-Sadr."

The source, who asked not to be named, said that "Sawson won the post after pressure during his dialogues with the conquest."

Media sources had reported on Friday that Prime Minister Adel Abdul Mahdi had sacked the governor of the Central Bank of Iraq acting Ali al-Alaq, but local media outlets quoted a source close to the links of exile Naveh.

The issue of the inclusion of the Governor of the Central Bank by proxy Ali al-Alaq in the printed from the new aunt for a wide range within the political circles and specialists in this aspect as the Iraqi Council of Representatives held a session dedicated to discuss this matter.

The governor of the Central Bank of Iraq Ali Alaak said that the rains "damaged" about seven billion dinars (about six million dollars) within the Rafidain government.

Al-Alak said in an intervention during his attendance at the parliament session on Monday that the rainwater had entered the coffers of the bank and caused damage to the banknotes stored in those safes.

"In this case, Rafidain Bank requests the replacement of these securities by the Central Bank," he said, adding that the bank keeps documents to prove the validity of the issuance of currencies that have been damaged.

Al-Alaq said that the Central Bank, in accordance with its instructions and regulations, "replaces the currency when exposed to damage due to various accidents such as drowning, burning or anything else."

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Note: ISX will be closed on Tuesday (Nov. 20, 2018) due to a religious holiday (Birth of the Prophet). The next trading session will be on Wednesday (Nov. 21, 2018).

Rabee Securities Iraq Stock Exchange (ISX) market report (week ending: 15th November 2018).

Please click here to download a table of listed companies and their associated ticker codes.

The RSISX index ended the week at IQD664 (+1.6%) / $711 (+1.6%) (weekly change) (-18.1% and -14.9% YTD change, respectively). The number of week traded shares was 49.2 bn and the weekly trading volume was IQD18.3 bn ($15.1 mn).

ISX Company Announcements

  • ISX will suspend trading of Asiacell (TASC) starting Nov. 20, 2018 due the AGM* which will be held on Nov. 26, 2018 to discuss and approve 2017 annual financial results.
  • The national bonds owned by Al-Kindi of Veterinary Vaccines Drugs (IKLV) will start trading on the ISX on Nov. 18, 2018. The total number of the bonds that will start trading is 350 and each of them are from IQD5,000,000 category (ISX ticker: CBI25). Opening price for each bond will be IQD5,252,945 (IQD5,000,000 (price of the bond) + IQD252,945 (interest)) with +/-5% price change limit, and thus, the total value of the bonds that will start trading be IQD1,838,530,750 (350 X IQD5,252,945). Annual interest of the bond is 8% and the bond maturity date is Apr. 2, 2019.
  • Original shares of Dar Al-Salam for Insurance (NDSA) will resume trading on Nov. 18, 2018 after deciding to increase the capital from IQD5.0 bn to IQD7.0 bn through 40% rights issue. The opening price will be IQD0.64 with +/-50% price change limit for the first session and after that, price will be able to change with +/-20% limit per day.
  • Palastine Hotel (HPAL) will resume trading on Nov. 18  due to disclosing 2017 annual financial results.
  • The National Bank of Iraq (BNOI) signed a trade finance agreement on Tuesday with the International Finance Corporation (IFC), a member of the World Bank Group, to help the bank’s client businesses access global markets, boosting trade and spurring economic growth. In addition, a Memorandum of Understating (MOU) was also signed between the two parties whereby the IFC will provide NBI with support related to the field of Corporate Governance. (BNOI Website)
  • Baghdad Hotel (HBAG) resumed trading Nov. 13, 2018 after discussing and approving 2017 annual financial results and deciding to distribute 44% cash dividend (0.44% dividend per share, 4.9% dividend yield).
  • Cross Transactions: 44.6 bn shares of Zain Al-Iraq Islamic Bank (BZII) on Nov. 14, 2018, which represents 17.8% of BZII capital.
A bank source reveals the amount of fines imposed by the central bank on some banks

A bank source revealed on Friday that fines imposed by the central bank on some banks amount to 360 billion dinars within two years.

The source said in an interview with Alsumaria News, "The size of fines imposed by the Central Bank on some banks amounted to 360 billion dinars (during the last two years) and the limit of 100 billion dinars as miscellaneous fines."

The source, who asked not to be named, that "a large part of those fines related to fraudulent customs statements and irregularities related to the work of banks and the mechanism of application controls,"

pointing out that "these banks have been transferred files (more than 600 cases and a case) to the judicial organs for decision With reference to the withdrawal of licenses of some companies and financial institutions for violating the laws of banking operations. "

"These fines and penalties may be an important reason for the attacks currently facing the monetary authority of some of those affected," the source said .…D9%84%D9%85/ar

For the first time .. Demonstrations in front of the central bank in central Baghdad

BAGHDAD – Hundreds of civilians demonstrated in the Iraqi capital Baghdad on Friday, demanding the removal of the governor of the Central Bank Ali Alalak, after the damage of 7 billion Iraqi dinars were in the bank, because of "rainwater."

A security source in Baghdad that "the demonstrators raised slogans condemning the existence of relations in the post of governor of the Central Bank and chanted against him," noting that "other slogans included the demand of Prime Minister Adel Abdul Mahdi to hold the accounts and submit to the judiciary."

For his part, the protester Ammar al-Baghdadi, "We turned our demonstration today from Tahrir Square to the Central Bank to pressure the government and the judiciary to hold accountable for the links and all those who caused damage to citizens’ funds."

"Our demonstrations will be renewed before the central bank unless there is accountability for those who waste money from Iraqis," he said.

The Supreme Judicial Council in Iraq announced on Thursday that it is investigating the sinking of 7 billion Iraqi dinars due to the torrential rains that entered the bank.

The governor of the Central Bank of Iraq, Ali Alalak, earlier that 7 billion Iraqi dinars (about 6 million dollars) was damaged by rainwater in 2013, which sparked political and popular anger in the country.

Central Bank confirms that the process of replacing damaged funds "legal and according to the controls"

revealed the Iraqi Central Bank, on Thursday, for the reasons that prompted him to replace banknotes damaged in 2013, confirming that all procedures relating to the replacement of those securities "took place in accordance with the instructions and rules of law."

"The cash exchange process is a daily function, and if we assume that the central bank did not receive the banknotes (the damaged banknotes in 2013) or the last receipt, the banknotes will cause more problems of rot," said Ihsan al-Yasiri, director general of the central bank,

And will constitute damage to the treasury of Rafidain Bank, and will pass the loss to the owner of the bank, which is the Ministry of Finance so the central bank received and conducted the process of replacement.

For his part, the Director General of the Legal Department in the bank that "Article 33 and Article 34 of the Iraqi Central Bank No. 56 of 2004 was clear on the replacement of currency and cash damaged, which is considered the core duties and functions of the Central Bank of Iraq based on the law.

He added that "this process is carried out by the mechanism and controls and instructions issued by the issuance department and the treasury in the bank, which has implemented instructions on the subject in question," noting that "all procedures related to the replacement of currency in a timely manner in 2013 took place in accordance with the law and instructions and controls."…D9%84%D9%81/ar

Central: Some financial and banking services companies do not have a certificate

said the Iraqi Central Bank on Thursday that some companies offering financial and banking services do not enjoy Palmsadeghih.

The bank said in a statement received by Alsumaria News, a copy of it that "the banks authorized all, the scrutiny of some companies, offices and entities and offers such as financial services, banking, finance and training and other areas," noting that "some of them are not credible and may cause risks.

The bank welcomed "cooperation and advice in the investigation of those entities before entering into with them in transactions, contracts or agreements in order to protect the banking sector from fraud and fraud or waste of money and time with non-qualified."

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy.

It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.…D8%AA%D9%85/ar