(MENAFN – Gulf Times) Tunisia's central bank governor said yesterday the dinar currency could not be easily supported as international reserves go …

Tunisia's central bank governor said on Monday the dinar currency could not be easily supported as international reserves go below three months of …

The Central Bank is asking banks to inform them of the amounts they bought and not sold
2/25/2019

The Central Bank of Iraq on Monday called on all banks to inform them of the amounts they bought from them and were not sold.

The bank said in a statement read by "Economy News" that "all banks inform us about the cash that was bought through the window selling foreign currency has not been sold so far."

He added that "the purpose of this comes from the principle of transparency and compliance with the instructions of the Central Bank of Iraq and under the undertakings approved by your departments, including the sale of cash to passengers outside Iraq and to prevent the failure to commit violations of instructions to sell cash."

The Central Bank of Iraq was established as an independent bank under its law of March 6, 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.

http://economy-news.net/content.php?id=15516

The biggest robbery in history .. How lost 500 billion dollars of Iraq’s money?


2/24/2019

Equivalent to the sum spent by the Gulf States combined in one year, and building 600 skyscrapers the size and cost of the World Trade Tower WTCin New York City; more than $ 500 billion is the amount of money lost by Iraq from corruption, since the fall of the former regime on April 9, 200 until 2019 , According to statistics and experts in the economy and official data.


For many Iraqis, talk about the extent of government corruption and its "horrendous" figures seems futile.

They absolutely believe that they live in the most corrupt countries in the world. They see it in the media, the street and the institutions, and in the statements and speeches of the officials.


Iraqis were skeptical of these figures and counted them as insufficient to count the successive governments’ misfortunes and wealth to place Iraq in the ranks of the superpowers.


"The financial and administrative corruption in Iraq is not a matter of figures," said former MP and head of the Iraqi Umma Party, Mithal Al-Alusi.

"What Iraq lost is more than a few times what the Integrity Commission and the competent authorities are talking about." He said that "astronomical budgets went into the pockets of the parties by dividing them, It was, how they steal more. "


Al-Alusi asserts that "corruption has left only a door and its methods in all sectors, institutions and files, and left us a huge number of projects and billions of dollars as foreign debts, as well as the destruction of investment and infrastructure and destroy all the potential of the state."


In April 2003, the financial imports of Iraq since the US invasion and the fall of the former regime exceeded $ 1,000 billion, half of which went to the imaginary investment budget, the symbol of "the greatest corruption," according to the Parliamentary Integrity Commission. Iraq has lost,

as the Commission says, more than $ 350 billion through the smuggling of currency and the Central Bank auction, and contracts and projects phantom and slow since 2003 until the moment.


In an earlier statement to Prime Minister Adel Abdul Mahdi, he said that "corruption has lost the country 450 billion dollars with the presence of local wheat to government employees by 6%, that is 20 minutes of work a day," stressing that "Iraq’s budgets since 2003 to the year of 850 Billion dollar".


Abdul-Mahdi announced at the end of last month the formation of a higher council to "fight corruption", which will open all files and hold those responsible accountable, but that the Council "will not work" according to specialists, such as the Integrity Commission and the offices of the inspectors general, Counterterrorism Agency in the fight against corruption.

http://aynaliraqnews.com/index.php?aa=news&id22=114394

Iraq adopts a new currency by dealing with Iran and is close to completing a deal
2/21/2019

Baghdad is close to completing a deal to import energy from Iran by moving away from the dollar and adopting other currencies in trade accounts between the two countries, Prime Minister Abdul Karim Hashim Mustafa’s adviser said on Thursday.


"A large delegation from the Central Bank of Iran has proposed the idea of ​​trading with Iran in European currency, Iraqi dinar or oil," Mustafa said in a recent interview in Moscow on the sidelines of the Valdae International Conference on the Middle East.


"The sanctions against Iran are American and we have the right to protect our national interests; we always tell the Americans: ‘We are friends, but we are not part of your policy in the region.’

https://glgamesh.com/archives/48639

Iraq strengthens its reserves of gold and revealed its quantity

2/19/2019

{International: Euphrates News} World Gold Council data revealed that Iraq Iraq has strengthened its reserve of gold.


The World Gold Council’s latest report showed that central banks around the world bought around 651.5 tonnes of gold in 2018, noting that Russia and Turkey had raised their reserves at the expense of the dollar.

Countries such as Iraq, India, China and Kazakhstan were among the top gold buyers in 2018. According to data, Iraq increased its reserves last year by 6.45 tons, bringing its total gold holdings to 96.3 tons.

He pointed out that the reserves of Iraq reached the end of the third quarter of 2018 about 96.3 tons, which allowed him to progress on Arab economies rich in precious metal reserves.

The geopolitical and trade tensions coupled with Washington’s sanctions policy have shaken confidence in the US dollar in recent years, prompting a number of global central banks to increase their purchases of gold.

http://alforatnews.com/modules/news/…storyid=188983

Iran reveals the volume of its exports to Iraq and promised from Baghda

2/17/2019

{International: Euphrates News} The governor of the Central Bank of Iran, Abdel Nasser Hamati, revealed an Iraqi promise to his country.


"The Islamic Republic has close ties with the Republic of Iraq," Hamati said in a press statement during an economic meeting in the western province of Kurdistan, adding that "Iraqi officials have promised to provide facilities for Iranian exporters."

He stressed that "the need to turn the Iranian province of Kurdistan to an export platform to the Kurdistan region of Iraq, taking into account the advantages, saying that the production units must not face any liquidity problems."

Hamati pointed out that "our exports to Iraq now amounts to about 12 billion dollars, and may increase this figure to 20 billion dollars," adding, "Given the potential of the province of Kurdistan in different parts of them, officials should be planning in the province, to convert to an export platform to Iraq" .

The governor of the Central Bank of Iran, Nasser Hamati, visited Baghdad earlier this month and agreed with his Iraqi counterpart Ali al-Aalak to "determine a mechanism for financial payment between the two countries.

"With respect to Iraq’s debts to Iran’s gas and electricity exports to Iran, we signed after 4 hours of talks an important agreement with the Central Bank of Iraq to address the obstacles of money transfer and debt repayment," Hamati added.

He pointed out that "Based on the consensus, the monetary and banking relations between us and Iraq will be within the framework of the euro and dinar, where the Central Bank of Iran will calculate in Iraq on the basis of the dinar and the euro will be completed banking transactions through Iraqi banks."

"The people of Iraq have suffered from the blockade and are aware of the damage done to the people, and Iraq will not be part of the sanctions regime against Iran and any other people," Prime Minister Adel Abdul Mahdi said in a speech on the sixth of this month.

http://alforatnews.com/modules/news/…storyid=188722