Fri Jan 31 2014 9:55 p.m. | (Voice of Iraq) - long-Presse / Baghdad counting economists and specialists, on Friday, said the central bank's move to sell gold coins to investors and segments of society is the step "a good leader", stressing that it would work to control the gold market and help with the support of the Iraqi economy, and as pointed out that the increase in demand for buying gold, "indicating a recovery mode of living of the citizens," stressed that the Iraqi market imports about "5 tons of gold per month which is the largest amount in the history of Iraq." said the deputy governor of the Central Bank of the previous appearance of Mohammed Saleh said in an interview (to the extent Press), "The central bank's move to sell gold coins to investors and the rest of the segments of Iraqi society, good leader," explaining that "would move to work on the control of the gold market in accordance with the activation of banks mortgages of gold and money, thereby helping to support the economy Iraqi various sectors, "he said, adding that" banks mortgages accept mortgages Almkhclat gold for money, which borrow citizen to walk affairs of buying houses or cars or other. " Saleh added that "the increase in demand for buying gold in Iraq is a good indicator on the recovery of the living conditions of the citizens who started with savings for fear of aftershocks possible in the price of the Iraqi dinar, or the U.S. dollar, "noting that" the import of central bank gold will enhance the confidence of citizens in gold imported by being assured and the origins of global best of the items imported traders at the moment and therefore this measure will enhance the chances of increase credit including reflect positively on improving the situation of citizens living and the national economy in general. " Saleh indicated that "the former regime was in control of the gold trade in Iraq through the approval strict instructions imposed on traders to get what they need through the purchase of the Iraqi Central Bank, which was forced to practice trade does not fall within its competence. " On his part, said Mohammed al-Waeli remnants, one gold traders in the market for a river in central Baghdad, in an interview with the (long-Presse), "The imported quantities of gold over the past years is almost the largest in the history of Iraq, "explaining that he" had never absorbed the markets of Baghdad and the provinces amounts exceed 50 tons per year. " added Wa'ili that "the central bank a clear imprint on the gold market, where he had previously inspection teams and surveillance patrol on all workshops and stores of gold scattered across the country , "adding," but after 2003 there was a discrepancy in the price and quality of the gold pure importer and available in the market. " He Wa'ili that "the rates of import is now available in the Iraqi market for gold up to about 5 tons a month," noting that "import sources are varied According to the quantity and quality desired by merchants Some of them imported from the United Arab Emirates, Kuwait, India, Italy, Iran or Turkey. " It was the Iraqi Central Bank decided, in (January 23, 2014), "SEC assortment of gold bullion" to sell to the dealers in gold, investors and sliced Iraqi society, as he emphasized that "this action represents one of the tools of monetary policy to the Bank." and the view of economists that the entry of the World Gold to Iraq is a positive case in order to activate the market dealing gold in Iraq, especially since the gold market of Iraq was not affected by the entry of gold the United Arab Emirates and Turkey. was CBI revealed, in (September 22, 2013), the arrival of the reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, is expected to increase the reserve in the coming months. was the International Monetary Fund, declared, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank's hard currency to $ 70 billion, attributing the increase to the "oil revenues unexpected." experts say Financial stocks that Iraq reserves of money has covered the cash over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government.
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