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CBI intends to issue bonds loan of $ 3 billion dinars
Branch of the Central Bank of Iraq in Basra (Archive)
Ahmed Al-Zubaidi 15/11/2013
Iraqi Central Bank intends, as part of its plans to reduce the level of inflation, to issue a bond loan in Iraqi dinars, and for the first time since 2003.
The general manager said the fight against money laundering and terrorism financing in the bank Khaled Hamid Cltag,, The issuance of these bonds will allow the withdrawal of a critical mass of market estimated at three billion dinars.
Moreover economists expressed their satisfaction with the move, which they described as good, and said it will contribute to reducing inflation, calling for the central bank to the need to educate citizens on the importance of these bonds and financial benefits ahead of its launch.
He said economic expert appearance of Mohammed Saleh need to take a lot of measures such as the launch of these bonds, fearing the control of the banks it instead of citizens, stressing the need to adopt modern methods: including the launch of bonds electronic, not paper, as well as making interest rate by a competitor of interest offered by banks on deposits citizens.
The process of issuing a loan bonds monetary policy options that are used to withdraw cash blocs of citizens, including reducing inflation serves in Iraq.
And upheld the Finance Committee in the House of Representatives this step, stressing that the central bank will be the guarantor of these bonds no fear of buying them.
Committee member confirmed Najiba Najib said the move is good despite the fact that the actual value of these bonds close to three billion dinars, which is a small percentage compared to the current monetary bloc, calling on citizens to buy them.
The experts estimate Iraq's economy the size of the compacta monetary bloc among the citizens as well as the market traded in the amount of three trillion Iraqi dinars, which some have described as representing a significant financial inflation.
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Branch of the Central Bank of Iraq in Basra (Archive)
Ahmed Al-Zubaidi 15/11/2013
Iraqi Central Bank intends, as part of its plans to reduce the level of inflation, to issue a bond loan in Iraqi dinars, and for the first time since 2003.
The general manager said the fight against money laundering and terrorism financing in the bank Khaled Hamid Cltag,, The issuance of these bonds will allow the withdrawal of a critical mass of market estimated at three billion dinars.
Moreover economists expressed their satisfaction with the move, which they described as good, and said it will contribute to reducing inflation, calling for the central bank to the need to educate citizens on the importance of these bonds and financial benefits ahead of its launch.
He said economic expert appearance of Mohammed Saleh need to take a lot of measures such as the launch of these bonds, fearing the control of the banks it instead of citizens, stressing the need to adopt modern methods: including the launch of bonds electronic, not paper, as well as making interest rate by a competitor of interest offered by banks on deposits citizens.
The process of issuing a loan bonds monetary policy options that are used to withdraw cash blocs of citizens, including reducing inflation serves in Iraq.
And upheld the Finance Committee in the House of Representatives this step, stressing that the central bank will be the guarantor of these bonds no fear of buying them.
Committee member confirmed Najiba Najib said the move is good despite the fact that the actual value of these bonds close to three billion dinars, which is a small percentage compared to the current monetary bloc, calling on citizens to buy them.
The experts estimate Iraq's economy the size of the compacta monetary bloc among the citizens as well as the market traded in the amount of three trillion Iraqi dinars, which some have described as representing a significant financial inflation.
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