Central: Our sales to banks during the year 2016 amounted to more than $ 33 billion

by **Rocky** Sun 01 Jan 2017, 6:32 am

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Post n°1

Central: Our sales to banks during the year 2016 amounted to more than $ 33 billion

by Rocky Sun 01 Jan 2017, 6:32 am

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Sunday January 1, 2017 13:24

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Alsumaria News / Baghdad
, said the Iraqi Central Bank , on Sunday that his sales to banks during the year 2016 amounted to more than $ 33 billion until 31 December of the past.

The bank said in a statement Alsumaria News received a copy of " The sales of the dollar banks reached since the beginning of the year 2016 and up to 31 of December 33 billion and 523 710 000 and $ 489."

The bank said that "this amount is reduced from what it was on the same date last year in 2015 in which sales reached 44 billion and 147 223 000 and $ 185."

He said the bank "sale amounts transferred to accounts in banks abroad , the price rose three thousand dinars to equal that cash sales price of $ 1190 dinars per dollar Dmtha commission of the Central Bank."

Said Governor of the Central Bank on the Keywords on the third of March 2015, said the new guidelines set by the bank is that the auction is no longer a daily window for operations for the sale of currency auctions, noting that the new mechanisms developed to sell this currency, especially that of its functions to provide currency for foreign trade.

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by **Rocky** Mon 02 Jan 2017, 9:43 am

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Rocky: Admin Assist; Posts : 282968
Join date : 2012-12-21

Post n°2

Central imposes «new standards» on the banks before entering the auction currency and 2016 saw the s

by Rocky Mon 02 Jan 2017, 9:43 am

Central imposes «new standards» on the banks before entering the auction currency and 2016 saw the sale of $ 33 billion

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BAGHDAD world
in the time it announced the sale of more than $ 33 billion during the year 2016, the Central Bank revealed requiring private banks to form units "risk management and anti - money laundering", as a first step towards a "new standards" to enter the private banking sector to auction currency, in order to organize the sales process according to special rules show how banks vocabulary commitment.
As announced US Treasury representative at the US Embassy in Baghdad , John Sullivan, that Iraq has made over the past four years , extraordinary progress in the financial sector, calling for the disclosure in the media about the achievements made since the international community is watching the reality of money in Iraq and wants to learn more about his accomplishments .
He noted Sullivan during the Forum of compliance and anti - money laundering and terrorist financing , which was held in Baghdad, it noted that this meeting is important for coordination between the members of the banks to develop new banking systems, such as anti - money laundering and terrorist financing, development and to international standards and to discuss their work mechanisms, especially after receiving a number of competencies Iraqi international level training in this area, what is a good investment of banking institutions.
He explained that Iraq 's richest oil dependence must activate the investment environment, and this event shows the flow of money in Iraq and other related laws.
He stressed the central bank governor on the Keywords, on the need to improve banking institutions to work on the creation of an effective banking sector does not allow the operations of money laundering and financing terrorism, pointing out that "work is continuing to upgrade the work of the Central Bank through the strategy put forward by the aim of turning it into an enterprise engaged in the framework of banks advanced central. "
He pointed out that the central, shifting from achieving conventional goals of the development goals achieved financial stability, and perhaps the lending initiative that is carried out via specialized and private banks, bearing evidence of this trend to move the sectors of the economy, pointing out that the Central is looking forward to working mail through programs being expanded to Bank of the level of the private banking sector.
Keywords pointed out, obliging banks to form units of risk management and anti - money laundering, as the central contribute to the preparation of competencies This has attached great importance, emphasizing the development of new standards for the entry of the private banking sector to the currency auction, organize the sales process in accordance with the special rules show how banks vocabulary commitment.
The central bank in a statement received by " the world", a copy of which, yesterday, said that " the dollar sales to banks, reached since the beginning of the year 2016 and up to 31 of December 33 billion and 523 million and 710 000 and $ 489."
The bank said that "this amount is reduced from what it was on the same date last year in 2015 in which sales reached 44 billion and 147 million and 223 thousand and $ 185."
The statement continued , " The sale amounts transferred to accounts in banks abroad , the price rose three thousand dinars to equal that cash sales price of $ 1190 dinars per dollar Dmtha commission of the Central Bank."
He said that coordination with specialized international bodies in the area of capacity - building, in a move that enabled Iraq to move from white to gray area.
The President of the Iraqi private banks association, Wadih Handal, the importance of the role of the association and private banks operating in the implementation of these tasks and the training of specialized competencies to manage activity and organizational structures for compliance units and ways to address the challenges facing the Iraqi banks with correspondent banks.
He added, "The Central Bank of Iraq a prominent role in legislation against money laundering and terrorism financing law, which included basic materials for the protection of Iraqi funds and combating the financing of terrorism and to maintain the structural pillars of the Iraqi economy."
In addition to the procedures, policies and mechanisms detailed action would avoid the dangers of banking reputation affected, especially in our banks relationships with correspondent banks and ensure the continuation of sound relations based on mutual trust and belief in the inevitability of the Iraqi economy overcome the current crisis, an effective contribution from the Iraqi banking sector as the first episode 's main Lease and investment activity for the building and economic reform.
He commended the consultant in quality management and institutional development in the Central Bank, Sebastian Talat, on the role of global and specialized international organizations and friendly countries to provide aid in this area, as it made a lot in training and infrastructure of the financial system.
He said the work began to evaluate compliance with the central bank and the banking sector, and here it was necessary to restructure the central bank in order to keep abreast of developments in the world 's central banks.
He pointed out that compliance with the requirements include a set of national laws and international requirements must be adhered to by the bank, and that "it is necessary to have a staff with higher authority to oversee all operations and reporting References", stressing that "the existence of an effective training programs that enhance capacity, as well as having channels open between the central departments distinctive and supervisory procedures with the help of a specialized international company in this regard. "
And sale of foreign currency mechanisms, he stressed that the existence of joint work between the CBI and the Fed team to monitor the sale of currency mechanisms, to make sure the money trends for the commercial sector and to achieve sales goals.

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Central: Our sales to banks during the year 2016 amounted to more than $ 33 billion

Central: Our sales to banks during the year 2016 amounted to more than $ 33 billion

Central imposes «new standards» on the banks before entering the auction currency and 2016 saw the s

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