Central Bank decides to take the necessary measures to boost liquidity in the banking system and sim

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Sunday January 25, 2015 16:18
 
 

[ltr]"The Council decided to take the necessary measures to boost liquidity in the banking system so as to enable it to perform its duties usual measures, and at the same time, the acquisition of government debt instruments so as to enhance sustainable development and job creation and prosperity."


 He said the bank, that "The Council also decided to simplify the procedures for the sale of foreign currency (bank and cash) in order to facilitate the stability of the market and the exchange rate."


 The Central Bank of Iraq confirmed in (January 18, 2015), that the bank reserves is one of the best reserves in the world, at a time pointed out that covers the currency and a half times, between the financial crisis that has plagued Iraq is resolved structuring the economy and diversify sources.


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Central Bank decides to support the liquidity of banks and finance the budget

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BAGHDAD / Obelisk: CBI agreed to support the liquidity of commercial banks, and finance the state budget loan amount (6) six trillion dinars, and buy back treasury bonds from the secondary market.

A statement by the bank received "obelisk" said, "The bank has taken these steps in line with the central bank's tasks and responsibilities in support of the development process, and to stimulate the Iraqi economy, and in light of the financial challenges faced by the country."

According to the statement, the "Bank decided to support the liquidity of specialized commercial banks in the amount of five (5) trillion dinars, to enable them to provide loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation."

The bank also decided to finance the state budget loan amount (6) six trillion dinars run through 50% of the commercial banks' reserves deposited with the Central Bank of Iraq.

And on the road to support the State Treasury, the Bank re-buy Treasury bonds from the secondary market, where the central bank will, bought about five (5) trillion dinars, the first stage of those bonds.

The bank stressed that "these actions do not affect the Central Bank of Iraq's Special Reserve."

The Central Bank of Iraq announced that he was considering initiatives and actions to promote job development and job creation.

The bank said in a statement that it "teaches important initiatives and actions to promote development and job creation."

The Central Bank of Iraq has decided in an extraordinary session, Sunday, boost liquidity in the banking system and simplify the sale of foreign currency to sustain the stability of the market and exchange rate measures.

In terms of the financial situation, the central bank sales in the auction for the sale of foreign currencies fell, on Tuesday, to $ 69 million after it reached Monday 77 million and US $ 907 000.

According to a statement of the bank, said that "the size of the amount sold by the bank at the auction of the dollar today reached 69 million and 593 000 dollars at the exchange rate in 1166 dinars to the dollar and with the participation of 12 banks."

He pointed out that "the quantity sold in cash amounted to 21 million and 780 thousand dollars, and the quantity sold Khawwalat amounted to 47 million and 813 thousand dollars."

The statement said that "the Iraqi Central Bank to continue buying and selling dollars at 1166 dinars," adding that "the sale of remittances price 1187 JD / dollar, including the commission of the Central Bank of 21 dinars per dollar, with total cash sales price of $ 1190 JD / dollar, including the commission Bank Central of 24 dinars per dollar. "

The central bank is seeking to raise the sales index, which amounted in January 20 0.224 million.

The Bank also seeks to avoid a decline in sales in the light of financial hardship and a lack of liquidity through which Iraq is a result of lower imports due to falling world oil prices and the government's efforts in austerity to meet the shortfall in the budget of 2015's rate of 25 trillion dinars.



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Missed that proven but cool.

The central bank has already stated that they would recapitalize the banks for losses as a result of the delete the zeros implementation. The CBI could better control the process.

Like it too.

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