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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities

    Rocky
    Rocky
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    Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities  Empty Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities

    Post by Rocky Sat 23 Feb 2013, 6:15 am

    Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities



    BAGHDAD (Iba) ..



    Called on the Central Bank of Iraq's political class all the channels and national news agencies that investigate the accuracy and objectivity of the talk about the activities of the bank as these conversations and statements of an impact on economic changes and investors' decisions.
    The bank said in a statement issued in response to statements MP Haider Mulla circulated by the media and some news agencies on Thursday and said the loss of the amount of 509 billion Iraqi dinars through currency auction in addition to changes in the exchange rate and the short sale of foreign currency on a limited number of banks is Iraqi and not to have an auction to sell the currency in addition to the special notes do not fall within the sphere of activity of the bank.

    The bank said that the five largest banks has purchased foreign currency distributed on a monthly basis during the year 2012 are:

    Bank Name
    Critique
    Transfer
    Total
    Exchange rate
    Transfer rate
    Percentage of total

    Bank of the Middle East
    40075 40,075
    3721020 3721020
    3761095 3761095
    1%
    8%
    8%

    North Bank
    49395 49,395
    3511040 3511040
    3560435 3560435
    1%
    8%
    7%

    Bank of Arbil
    74735 74,735
    3064052 3064052
    3138787 3138787
    2%
    7%
    6%

    United Bank
    99215 99,215
    3008502 3008502
    3107717 3107717
    3%
    7%
    6%

    National Bank
    37565 37,565
    2688477 2688477
    2726042 2726042
    1%
    6%
    6%


    He noted that more audits ongoing transactions auction offered several banks to sanctions which including prevent them from entering the auction and certain period of time in addition to undergo transactions to audit exceptionally large size of their transactions first and second because of signs doubt strong transactions and lists provided on its way during the previous phase He notes that the change in the names of banks and Nsphcra of the top five banks of the auction.

    The statement added despite the belief the current administration of the Central Bank should be expanded in the banking relationships for Iraq with the outside world and give better opportunities to invest in Iraq and elements that allow foreign banks sober to open branches in Iraq and on the basis of reciprocity, noting that the current administration did not so far grant any license to any foreign bank to open a branch in Iraq, and that all the banks that have been talked about has been granted leave and allowed her to enter the auction by the previous administration and before 10/15/2012.

    And on the central bank rate to sell the dollar / dinar statement stressed that the sale price for the banks is 1179 dinars / to the dollar, indicating rate prices sale of foreign currency in the domestic market during the months in 2012, which refers to the degree of change during the entire period (amount dinars per dollar).

    Month
    Average price in the market

    January
    1205

    February
    1236

    March
    1240

    April
    1263

    May
    1249

    June
    1240

    July
    1254

    August
    1248

    September
    1228

    October
    1200

    November
    1207

    December
    1222



    The statement said it was expected during the phase change and activate the control exchange rates to rise more, especially as the previous administration had scrapped the upper limit allowed for private banks to sell to citizens, and therefore there is no legal restriction required banks to observe that only advice.

    He explained that he had been held three meetings during the four months past with managers Commissioners for private banks have been telling them advise the central bank that is selling up to no more than add ten units maximum above the selling price and this draws a temporary seeks his bank towards further strengthening the dinar exchange rate and according to the need of balance of the Iraqi economy and its markets.


    He denied indicated that the auction was held during the half-hour under the previous administration, while not hold now never, stressing that is totally incompatible with the truth, and noting that the auction does not announce its results a day only after fulfilling all audit mechanisms preliminary which takes even after one in the afternoon every day.

    He was informed of the banks to submit their applications a week before the date of sale to ensure greater objectivity and auditing and starting on Tuesday, 19/2/2013.

    As for the amounts of corruption referred to in the statement, Mullah pointed out that all the lists being audited as instructed by the previous administration, which was given six months to verify the authenticity and the discovery transactions fictitious or fraudulent are taking action by the Bank and the prosecution of corrupt and companies manipulative Bmstndhath which should be referred turn to the courts.

    And added more oversight has been ruled out requests of questionable origin or health lists or those indicated by previous audits and a clear doubt. Noting that the amounts were excluded from 10/15/2012 more than four billion dollars.


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    Neno
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    Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities  Empty Re: Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities

    Post by Neno Sat 23 Feb 2013, 8:24 am

    Interesting of the amounts lost or said to of been.

    509 billion dinars
    4 billion dollars

    Thats all crazy!
    ron-man
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    Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities  Empty Re: Central Bank responding to remarks Haider Mulla calls for accuracy with respect to its activities

    Post by ron-man Sat 23 Feb 2013, 10:35 am

    Something dosen't feel right here mho

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