Kaperoni talks about a large CBI bank deposit.

Iraq-Banking-Weakened

Kaperoni Article: “Central Bank: 70 trillion dinar bank deposits” This is a huge article…think about it…if the CBI’s plan was to reduce the money supply they are announcing today that 70 trillion dinar sits in banks. The choice will be..loan it out or reform the currency and raise the value of the dinar. Now is the time with all this dinar out of circulation.

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Bank Story

PassionBee: Chase Bank: I went to a chase bank in Texas today to speak with a wealth manager. They told me that they did not have a wealth manager at that location, but they will have one to come to that location and speak with me.

I told them I am coming into an inheritance and was told to speak to a wealth manager. They wanted to hook me up with a financial advisor but I told them a wealth manager. They ask me how much are we talking about. I told them I didn’t know for sure yet.

I ask the manager whom I was speaking with if she was aware of the foreign currency revaluation and she said yes and their bank is one that will be doing exchanges.

She also said that since they work for the bank that they couldn’t buy any currencies because they know when currencies goes up and down and it is illegal for them to purchase any currencies.

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Iraq to ask world bank for loan.

Tomorrow’s Press / Baghdad: Minister of Finance Agency purity of net debt, Sunday, that Iraq is preparing to offer a program of the World Bank purports it to get a loan to bridge the shortfall in the budget for the current year, while noting that there are talks with the bank to provide financial liquidity for projects in the absence of provided by the government.

Safi said for “tomorrow’s Press,” that “there is a possibility that facing liquidity difficulties as a result of the deficit of significant progress in the current year’s budget will affect the continued operation of the strategic projects carried out in Iraq,” noting that “Iraq will progress during the spring meetings of the IMF and World Bank international meeting held in Washington DC, a program of the World Bank for a loan to fill this deficit. ”

He added that “there are talks with the World Bank for the possibility of providing financial liquidity for projects if they are not provided by the government.”

It is noteworthy that there are differences between the governments in Baghdad and Erbil on some items of the law of the federal budget for the current year related to the export of obsolete oil province of Kurdistan and Iraq have caused these differences to disrupt the law was passed

LINK

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Bank of Japan board March minutes show agreement easy policy working

Investing.com –

Investing.com – Minutes from the March meeting of the Bank of Japan board showed members shared the view that the effects of the aggressive easy policy launched in April 2013 are steadily working, according to text released on Friday.

The nine board members “expressed the view that it was appropriate for the BOJ to continue to steadily pursue quantitative and qualitative monetary easing in accordance with the current guidelines, as Japan’s economic and priced evelopments had been broadly in line with the forecasts presented in October 2013,” the minutes showed.

The March meeting minutes indicated that the policymakers don’t see an imminent need for additional easy policy, although market players are betting on additional monetary easing in the coming month.

There was agreement that that real interest rates are falling on the back of a rise in inflation expectations, the minutes also showed.

But one member questioned the expectations for the policy

“If a rise were to occur in markets’ anticipation that quantitative and qualitative easing would continue for a protracted period or extreme additional measures would be implemented in a situation where it was unlikely that the price stability target would be achieved in about two years, this could lead to economic instability in the medium to long term, such as through a buildup of financial imbalances,” they showed.

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Bank of England holds key rate at 0.50%, QE unchanged at £375B

Investing.com –

Investing.com – The Bank of England kept the benchmark interest rate on hold and announced no change to its asset purchase facility program, it said on Thursday.

The BoE said it was maintaining the benchmark interest rate at 0.50%, in a widely anticipated move. The bank also said it was to maintain the stock of asset purchases financed by the issuance of central bank reserves at 375 billion.

Following the announcement, the pound was little changed close to four-and-a-half year highs against the broadly weaker dollar, with GBP/USD trading at 1.6785.

Meanwhile, European stock markets remained mixed to lower. London’s FTSE 100 was up 0.22%, the DJ Euro Stoxx 50 was down 0.20%, France’s CAC 40 dipped 0.02%, while Germany’s DAX edged up 0.09%.

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Bomb explodes outside Greece’s central bank

A car bomb has gone off outside a Bank of Greece building in central Athens, smashing windows in nearby shops but causing no injuries, police and witnesses say.

The blast on Wednesday struck hours before Greece planned its first foray into the international bond markets since it plunged into a debt crisis four years ago, and a day before a visit by German Chancellor Angela Merkel.

A police officer, spealing on condition of anonymity, told Reuters news agency that someone had anonymously warned a newspaper of the attack about 45 minutes before the explosion just before 6am local time.

The caller said the device contained about 70kg of explosives.

There was no immediate claim of responsibility, but police believed leftist or anarchist groups were behind it, the official said.

Witnessess saw debris strewn across the street in a busy part of the capital lined with banks, shops and a mall.

Makeshift bomb and arson attacks have escalated since Greece adopted unpopular austerity measures in exchange for financial bailouts by the European Union and International Monetary Fund in 2010.

Small-scale attacks against politicians, journalists and businesspeople are frequent in Greece.

179

AL JAZEERA ENGLISH (AJE)

Mysteries and Secrets of the exclusion of al-Maliki to head the central bank

Informed sources revealed the reasons for the exclusion of Iraqi Prime Minister Nuri al-Maliki to head the central bank Abdel Basset Turki.

The sources said that Iraqi politicians in the government of Nouri al-Maliki have significant financial transfers abroad in the recent period, according to the agency “right.”

The sources close to the director of the Central Bank of Abdel Basset Turki said the bank continued to transfers of up to millions of dollars by people close to Prime Minister Nuri al-Maliki.

She explained that the conversion points distributed among the United Kingdom, Scotland, Ireland, the Netherlands, Denmark, Sweden, Canada, and the United States of America, United Arab Emirates.

He has dismissed the director of the Central Bank of Abdel Basset Turki, putting his place “on the Keywords”.

Has raised the dismissal of the President of the Central Bank before the start of the election campaign debate about the secrets of matter.

He sought to keep his job in every way, despite the big differences that are shaking the country after he entered the conflict with al-Maliki in different directions almost.

LINK

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Is Iraq’s Central Bank Buying Gold?

Central banks are still adding gold bullion to their reserves and the smaller countries are getting into the act big-time.

According to the International Monetary Fund (IMF), in the month of March, Iraq’s central bank added 36 tonnes of Gold bullion to its reserves—worth about $ 1.5 billion. This is the first purchase by the central bank since August of 2012, when it bought 23.9 tonnes of gold. (Source: Reuters, March 25, 2014.)

Sure, you could say, “Michael, 36 tonnes of gold bullion is nothing for a central bank.”

I agree. But looking at the bigger picture, it is very significant for a small country like Iraq—a country whose annual gross domestic product (GDP) is smaller than Amazon.com’s sales for 2013—to be getting into gold bullion in a big way. The official announcement from the central bank of Iraq sent the message that it bought the gold bullion to stabilize the country’s currency and add insurance to their reserves.

Since 2009, central banks around the global economy have become net buyers of gold bullion, and I don’t think they will stop anytime soon. The main reason for this is that the central banks see a significant amount of volatility coming to the world of paper currencies—something they hold in their reserves.

Too many major world currencies are in a downtrend. The U.S. dollar has been on a decline since the beginning of 2014. The Canadian dollar is hitting multiyear lows. The Japanese yen has been plummeting.

Where do we go next with gold bullion?

At present, the amount of negativity towards gold bullion is immense. But the fundamentals paint a different picture. Central banks around the world (especially China) continue to be major buyers of gold bullion, as do private individuals. This year, world gold production will decline as gold companies have slashed their exploration budgets and shut down low-grade, cost-ineffective mines.

Looking at the fundamentals, how can I not be bullish on gold bullion?

Irrational, maybe even manipulated, gold prices have resulted in the stocks of many well-managed gold companies selling at prices we have not seen in years. I see the shares of quality gold producers as an opportunity for investors to practice the old adage of “buy low, sell higher later.”

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Central Bank calls on citizens to “maintain” the cleanliness of banknotes

Called on the Central Bank of Iraq, on Monday, citizens to “maintain banknotes local and not exposing them to write and seals and signatures,” promised that “damaging the general appearance” of the banknote, and as pointed out that “Enter the mechanization of modern and sophisticated” operations counting banknotes, He stressed that these devices require a “clean sheet of cash does not carry any damages.”

He said the Iraqi Central Bank in a press statement received (range Press) a copy of it, “The Central Bank calls on citizens to maintain banknotes local category (two hundred and fifty, five hundred, a thousand, five thousand, ten thousand, twenty five thousand) dinars.”

He called Bank of citizens “not to expose these securities to any damages such as writing or seals or symbols or signatures,” attributing the cause to be “without prejudice to the general appearance of the banknote because of civilization of the Iraqi dinar.”

And between the central bank in its statement that “other reasons which called for the bank to keep the paper local is admitted to the mechanization of modern and sophisticated counting and sorting operations for those banknotes,” explaining that “these devices require the presence of a banknote clean not afford any damage to its promise.”

It is noteworthy that Iraq adopted, after 2003, in his dealings with currency cash has editions in European countries instead of the previous currency, which was in place in the nineties of the last century, which was reprinted at the time of printing presses local because of the sanctions imposed on Iraq, and was characterized by rapidly damage and lack of recognition International them.

There are currently in Iraq six categories of currency is the two hundred and fifty dinars and five hundred thousand dinars and the dinars and five thousand and ten thousand dinars dinars twenty five thousand dinars.

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Central Bank raises for the protection of Iraqi funds abroad

Follow-up / newspaper probity – witness the next date of 5/22/2014 change economically and strategically a lift protection for Iraqi funds deposited in banks in the United States.

Deputy Governor of the Central Bank of the previous appearance of Mohammed Saleh: “It’s (22 May 2014), will raise U.S. protection for Iraqi funds deposited in the” Development Fund for Iraq, “and will receive the responsibility of the Iraqi Central Bank directly, after the withdrawal of Iraq from Chapter VII in (27 June 2013). ”

He stressed that: “Deposits Development Fund for Iraq, which come from oil imports have been deposited in the Reserve Bank and the U.S. is a discount of 5% of Kuwait’s compensation in accordance with Section VII imposed by the United Nations against Iraq.” Ended

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Bank Story

Goddess of Love:  Latest Update from Wells Fargo Bank

Went into my local WF bank to do my car payment today. New to the left of the teller section is a NEW FOREIGN CURRENCY LCD SCREEN that updates foreign currency.

Keep in mind that I posted a story a few months back about the podium in the center of the doorway when you walk into the bank.

I asked the teller when they put it up and he told me they’ve had if for about a month now. He said “We do a lot of currency transactions and it helps our customers see the rates when they come in”.

GOOD ENOUGH FOR ME.

DO NOT ASK WHY I DID NOT TAKE A PICTURE FOR YOU or inquire about any other information. It is what it is. You’re not supposed to take pictures in the bank!

Just know that WE ARE SO FREAKIN CLOSE YOU CAN JUST TELL.

Have a blessed day everyone.

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Investigation looming with the Central Bank concerning the vast difference in the exchange rate of the currency

{Baghdad: Euphrates News} A member of the parliamentary Finance Committee Hassan al-Bayati, said that the continuation of the vast difference in the currency exchange rate between the central bank and private banks or banking companies for more than a year is considered corrupt and makes bank officials under penalty of law, pointing out that there might be an investigation into In the future, with the central bank regarding this matter.
al-Bayati told the News {Euphrates} on Thursday that “the central bank is responsible for the stability of the Iraqi dinar, which from its responsibilities to maintain the value of the national currency against foreign currencies and inflation in the country, these duties and responsibilities of the central bank must therefore be on the central bank to take measures to maintain the value of the Iraqi dinar. ”

He added that “there is a vast difference between the exchange rate of the currency, the central bank and private banks or shops and banking companies, as the exchange rate difference of up to seven or six thousand dinars and this is a big difference too did not exist previously.”
al-Bayati said “mistaken policy of the Central Bank that led to it, it should not be there is such a broad difference, banks and banking companies earn a lot of money and imaginary processes of buying and selling,” he said, adding that “there may be an investigation of the central bank in the future regarding this matter. ”

He explained that “It is possible that this great difference between the exchange rate for months or for years, but continue to nearly two years indicates that the intent in this case exists,” noting that “the continuation of the central bank this deal will make it the responsibility of the governor and others under penalty of law as This deal is corrupt. ”
al-Bayati said that “the House of Representatives responsible for the accounting officers of the Central Bank, the Office of Financial Supervision and integrity, so For Audit Court not to remain indifferent to this dangerous phenomenon.”

Iraq has offices and banking companies widespread, is dominated by uncertainty, as some of these companies have turned to money laundering because of the lack of legal control of them, according to economists.
The traders buy and sell the dollar criticized the way in which the Iraqi Central Bank to sell the dollar and according to the opinion of some specialists in economic affairs, the CBI did not follow the monetary policy and legal , financial and economic foundations right in the process of selling the dollar.

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Parliamentary economy bear the responsibility of the Central Bank of the fluctuation of the Iraqi dinar

Baghdad: Carried by the committee of economy and investment parliamentary responsibility of the Central Bank of the fluctuation of the price of the Iraqi dinar against other currencies.

A member of the Economic Commission Amer winner told the News} {Euphrates on Thursday that the “wiggle political Central Bank weighed heavily on the currency in Iraq,” noting that “the bank is responsible exclusively on monetary policy in the country.” and added that “the instability of the security situation and the continuing differences between the political blocs other factors affected the instability of the Iraqi dinar against foreign currencies. ” and “The stability of the central bank’s policy, and the security situation, in addition to providing a suitable platform for foreign investors, factors that will help the stability of the Iraqi dinar against other currencies”.

Revealed the winner for “resolve all outstanding differences between the center and the region on the Law of the general budget and other problems relating to the export of oil,” likely “to read the budget such as reading a second session next Sunday.”

This accused member of the Committee on the economy and investment representative in earlier Aziz Mayahi influential figures in The government, in coordination with the staff at the Central Bank to control the sale of hard currency, which led to a decline in the exchange rate of the Iraqi dinar against the U.S. dollar.

Said Mayahi that the central bank has vowed to take new measures to stabilize the exchange rate of the dinar against the dollar, but so far is still the exchange rate of the dollar high It seems that the current administration of the bank can not support the value of the Iraqi dinar. ”

It was the Iraqi Central Bank announced that it will take new measures to stabilize the Iraqi dinar exchange rate during the month

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World Bank discusses the financial and banking sectors in Iraq

The Deputy Prime Minister Dr example, has typically Nuri Shaways, the official in his office, in Baghdad, the day Thursday, 03/17/2014, Mary Helen Head of Mission of the World Bank.

During the meeting was to review and revise the most important topics discussed in the meetings with the World Bank held in Washington, chaired by Rep. dissuade delegation financially an investment commercially during the month of March this during his recent visit to the United States.

The parties discussed the subject of financial and banking sector in Iraq and its importance and ways to promote it and develop it for the contribution effective in building and construction, and the rest of the other areas and assistance provided by the World Bank, including the needs of training cadres functional Iraqi middle and upper, this meeting was attended by the Director of the Office of the Deputy Prime Minister.

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Iraq’s Central Bank buys 36 tons of high-purity gold bullion

Said a statement obtained by “obelisk”, a copy of “Alasttratejah as part of the central bank in managing the reserves of the vessels, to achieve an element of safety and safety in order to use the tools of monetary policy to stabilize the exchange rate of the dinar against foreign currencies Iraq.”

The statement noted that “the Bank has purchased large quantities of gold bullion with a very high purity and in accordance with the approved international standards”, noting that “the quantity amounted to almost 36 tons during the month of March to achieve the above objective.”

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Palestinians killed in West Bank clashes

At least three Palestinians have been killed and 14 others injured in an Israeli raid in Jenin refugee camp in the occupied West Bank, Palestinian officials and medics said, with some of the wounded in critical condition.

The son of a former Hamas official was among the dead on Saturday, Al Jazeera has learned.

Palestinian sources said Israeli soldiers entered the camp in the northern West Bank city to arrest Hamza Abu Alheja, 20, a member of the Hamas military wing, the Ezzedine al-Qassam Brigades, with clashes resulting in the death of Mahmud Abu Zena, 19, an Islamic Jihad member.

A civilian named as Yazan Jabarin was also killed in the clashes, as a day of mourning and general strike were announced.

Israeli army spokesman Peter Lerner called Abu Alheja “a ticking bomb” who took part in shooting attacks and was in “advanced stages of the preparation of further attacks”.

Lerner told reporters that security forces shot Abu Alheja after he shot and lightly wounded two Israeli soldiers while trying to escape from the building in which he was holed up.

Meanwhile, “Palestinians began to shoot and throw explosive devices at the troops, and as a result we have two more killed”, Lerner added.

While there is security coordination between Israel and the Palestinian Authority (PA), the Palestinians were not involved in the Jenin operation, he said.

‘End security coordination’

Around 15,000 mourners calling for Palestinian unity and vengeance, as well as an end to Palestinian-Israeli peace talks, attended a joint funeral for the three dead men at noon.

An AFP news agency correspondent said the bodies of Abu Alheja and Abu Zena were wrapped in flags of their Hamas and Jihad movements, while Jabarin was wrapped in the flag of the Al-Aqsa Martyrs Brigades, an armed offshoot of Palestinian leader Mahmud Abbas’s Fatah party.

A rare joint statement by the three movements issued during the funeral vowed revenge and accused the PA which is headed by Abbas of complicity in the killings through its security cooperation with Israel.

PA security forces had arrested Abu Alheja in the past.

Gaza rulers Hamas called on the PA to “end security coordination with the Israeli occupation and leave the resistance to act freely,” in a statement.

Abu Alheja’s father, Jamal Abu Alheja, is a prominent leader of the movement Hamas who was been in Israeli prison since 2002.

An Islamic Jihad statement issued from Gaza said the Jenin killings demonstrated that “resistance continues”.

“The United States and Israel want to force the Palestinians and the entire region to surrender, but Gaza and the West Bank resist this,” senior Islamic Jihad official Nafez Azzam said.

The movement called for a demonstration in the northern Gaza town Beit Lahiya later Saturday to condemn the Jenin killings and “support resistance”.

A spokesman for Abbas condemned the “continuing escalation against the Palestinian people”, for which he blamed Israel.

“We call on the US administration to move quickly to prevent a general collapse in the region,” Nabil Abu Rudeina said.

On Thursday, he said US-sponsored peace talks with Israel have reached an impasse because of Israeli settlement activity.

The talks are on the brink of collapse, with Washington fighting an uphill battle to get the two sides to agree to a framework proposal to extend the negotiations to the year’s end after an April 29 deadline.

The violence in Jenin came as Palestinians in Gaza prepared to mark the 10th anniversary of the killing of Sheikh Ahmed Yassin, spiritual leader of Hamas, in an Israeli air strike.

Saturday’s deaths mark the bloodiest clash in the West Bank since November, when Israel killed three men it claimed were Salafist fighters.

Since the beginning of 2014, Israeli forces have killed nine Palestinians in the West Bank, according to an AFP tally.

629

AL JAZEERA ENGLISH (AJE)

Central Bank of Iraq received formal letter for disbursing February salaries to the Kurdistan employees

On last Monday, the ministry of finance of Iraq said that that it had sent a formal letter to the Central Bank of Iraq (CBI) to send salaries of last February to the staff of Kurdistan Region.
The deputy of the Minister of Finance, Fadel Nabi said, “The office of Prime Minister, Nuri al-Maliki had sent during the past few days a letter to the Ministry of Finance includes approval to send the salaries of February exclusively to Kurdistan.”

Nabi also added that it is true that I announced my resignation, but I am continuing in the work the ministry, indicating that the ministry has sent a letter to the Central Bank of Iraq to pay the amounts allocated to employees’ salaries of February only to the region.

He said that the amount allocated for this purpose will arrive to the region within two days. It is worth mentioning that crisis of voting on the budget of the draft general in Iraq for the current year has overshadowed employees and retirees of the region after differences between Baghdad and Erbil on the issue of oil export led the federal government to cut salaries for the region for the past two months.

LINK

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The central bank seeks to stabilize the Iraqi dinar against the U.S. dollar

BAGHDAD / newspaper rectitude – exposure of the Iraqi economy to economic shocks large affected and fully at the level of the Iraqi dinar and caused slumping and the flight of capital abroad, declined to foreign investors from entering the country, for fear of fluctuations in the exchange rate of the currency, and now seeks the central bank to adopt a new policy to protect the currency Iraqi and ensure its stability against the U.S. dollar.

Where A member of the parliamentary Finance Committee Abdul-Hussein al-Yasiri that the stability of the Iraqi dinar is due to several reasons, including the policy followed by the Central Bank of Iraq auction sale dollar a day.

He added: “This auction is a balance between supply and demand, the Iraqi dinar and the dollar, and was able to since its introduction a few years ago until now to maintain the stability of the Iraqi dinar.”

He Yasiri that the central bank has an important role in the stability of the dinar through daily currency auction, and that other measures also have an important role in supplying the Iraqi economy that serves everyone. ”

Between “the country and the potential Iyad worker and good technical, we want the Investment Authority that work well for the investor comes with the money, that does not come and borrow from the banks.”

He pointed out that “the banking sector progresses through the banking system is good and has a locking system well and keeping deposits of citizens and keeping bank loans and the strategic situation and cash management well,” stressing that “the Central Bank of 80 billion dollars, and must exploit the part of these amounts for development of the economy in Iraq. ”

For its part, revealed the association of private banks – non-governmental organizations – all taken in coordination with the Central Bank of Iraq some monetary policies that will maintain the stability of the exchange rate of the Iraqi dinar against foreign currencies.

He says the managing director of the Association super good: “The private banks now operate to attract traders, who make up one of the main sources for the introduction of foreign currency to Iraq and determine the activity of speculators at the exchange rate of the currency through the revitalization of reliance on bank bonds in banking transactions.”

So stressed economic expert Majid picture on “the need for cooperation with the Ministries of Finance and Commerce, in the application of monetary policy new taken by the central bank in coordination with the private banks,” and warned at the same time that the absence of such cooperation would lead to “the inability of the private banks and the central bank of control the Iraqi dinar exchange rate, even with these policies. ”

“The central bank has worked to identify the sales of foreign currency in the market to create a kind of balance between the price and the bank in the local market.”

For his part, President of the Association of private banks in Iraq, Nouri al-Wadih starting workshop expanded civil and private banks in coordination with the Central Bank to discuss the latest developments change the exchange rate of the Iraqi dinar against the U.S. dollar in the local market.

Nouri said that “the main objective of this workshop is to identify the mechanisms of cooperation in accordance with the new regulations issued by the central and include forcing private banks to deposit their capital with the central bank in the event of its desire to enter the auction of foreign currency held by the central bank every day.”

“The workshop will also discuss the design and planning of a clear policy to maintain the stability of the Iraqi dinar against foreign currencies and its impact on the value of the local currency.”

The decision of the Commission on Economy and Investment parliamentary Mahma Khalil: “The central bank is obliged to maintain the exchange rate of the Iraqi dinar and a balance must be maintained by the sovereign and the feature in the Iraqi economy because it is expected to be the Iraqi dinar economic identity in the region.”

Khalilzad said that “the price is still volatile and that stability is through control of the movement of the dollar and the market may not be a balance of Iraq in 2007, ten billion dollars and the exchange rate in 1200 and today our credit $ 76 billion later this year remains the exchange rate itself.”

For his part, said banking expert and executive director of the Association of private banks in Iraq, Abdul Aziz Hassoun “The arrival of the cash reserve to 80 billion dollars, enhances the value of the Iraqi dinar and ensure traders do and possessors upon trust and power, as it acts as a cover real currency.”

He said Hassoun he: “When you are in Iraq so guarantees will be provided external actors to cooperate with this country and invest in it, because it is considered an important indicator, and gives the amount supreme confidence in the Iraqi market for traders with dealers and contractors, and equipped foreigners.”

He said Hassoun that the CBI has issued new instructions to stabilize the exchange rate of the Iraqi dinar against foreign currencies through quotas weekly for banks and money transfer companies will increase and reduce the share exchange for a commitment each of them deliver the amounts they want customers from citizens.

The central bank announced earlier in the rise of the dollar reserves to 80 billion dollars, and 80 tons of gold, this reserve would provide significant support for the economy and the bulwark against the Iraqi currency fluctuations that you may encounter.

It is noteworthy that many of the international banks began to open branches in Iraq, invested great stability in the exchange rates of the dollar against the dinar, in addition to banking facilities good, and that made Iraq one of the favorite destinations for global banks. Ended 9

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World Bank Proposes $3 Billion For Ukraine

The World Bank says it is prepared to offer $ 3 billion to Ukraine this year to help it advance reforms and support crucial development projects.

Bank President Jim Yong Kim said in Washington on July 10, “We are committed to supporting the people of Ukraine in these difficult times and very much hope that the situation in the country stabilizes soon.”

The Bank said the Ukraine economy faces some serious challenges that will require “urgent action in the short term”, as well as sustained reform over the longer term.

It mentioned key priorities of restoring macroeconomic stability, shoring up the country’s banks, reforms to the energy sector and “seriously tackling corruption.”

The $ 3 billion for 2014 would be in addition to an ongoing multiyear Bank investment and guarantee program in Ukraine totaling about $ 3.7 billion that supports development of crucial infrastructure services including water supply, sanitation, power and roads.

Based on reporting by AFP and dpa

Radio Free Europe / Radio Liberty

Economic Commission: We do not need to borrow from the World Bank

Committee warned the economy and investment representative, of the increase due to the financial burden the state to borrow from the World Bank for the implementation of large projects in the country.

The committee member said Jassim Chenkali Agency / JD /: ”
The claim by the Iraqi government to grant loans and from the World Bank for the implementation of the dry canal project will increase the financial burden of the state, because this is one of the big projects that need to monitor him money is difficult for the country repaid.”

He pointed out: that Iraq is still his trust paid off the remaining debt from banks to the global financial system since the former political and until now, when borrowing large sums of money from the World Bank will increase the burden of the state, particularly since these loans entail obligations and benefits increase in value per year.

He added that Iraq does not need these loans to the fact that he has a large financial budget is the largest in its history.

This has been signed by the Iraqi government represented by the Ministry of Construction and Housing contract with the World Bank funding dry canal project in Iraq, attended by the Minister of Construction and Housing Mohammad Darraji and Minister of Finance Agency purity of net debt and the World Bank representative Fred Belhadj.

This comes as part of a major project to develop and establish ways of a new strategy linking Iraq to neighboring countries, particularly the World Bank recognized the site of the Iraqi strategic and important for the development of global trade and passing through Iraq, where Iraq is the link between the East and the West. / End

LINK

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Russian Central Bank Sold $11.3 Billion To Support Ruble

Russia’s central bank on March 5 said it had sold $ 11.3 billion in foreign currency to support the ruble on March 3, when the Russian currency came under unprecedented pressure amid the escalating crisis in Ukraine.

The amount was much higher than what financial experts estimated and is said to be one of Russia’s largest foreign currency interventions on record.

By comparison, the central bank spent $ 57 billion in December 2008 at the height of the financial crisis.

The ruble was relatively steady early March 5 against the dollar and euro, but Russian stocks fell amid investor nervousness about the Ukraine crisis.

In early morning trading, the ruble-denominated MICEX index was down 1 percent, with the dollar-denominated RTS down 1.1 percent.

The Russian market’s downward move on Wednesday was in contrast to positive developments on other global markets.

Based on reporting by AFP, Reuters, and ft.com

Radio Free Europe / Radio Liberty

Israel doubles West Bank outpost construction

The number of Israeli settlements being started in the West Bank more than doubled during 2013, the Israel central bureau of statistics has said.

The bureau said work began on 2,534 new housing units in the settlements in 2013, compared to 1,133 in 2012.

Monday’s announcement comes just hours before Israeli Prime Minister Benjamin Netanyahu is due to meet with President Barack Obama in Washington.

The two have long been at odds over Israel’s settlement policies, with Obama previously saying the continued building of settlements did not “advance the cause of peace.”

“We have seen more aggressive settlement construction over the last couple years than we’ve seen in a very long time,” Obama said in an interview with Bloomberg View columnist Jeffrey Goldberg published on Sunday.

“If Palestinians come to believe that the possibility of a contiguous sovereign Palestinian state is no longer within reach, then our ability to manage the international fallout is going to be limited.”

“It’s official, the Netanyahu government is committed to only one thing: building settlements. It shows the lack of commitment to negotiations,” a Peace Now statement said.

Obama is expected to try to persuade Netanyahu to accept a US framework for final peace talks with the Palestinians, but the Israeli leader has vowed to resist all “pressures.”

Obstacle to peace

Earlier this month, aid agencies highlighted the growing number of Israeli demolitions of Palestinian properties in the West Bank and East Jerusalem, despite renewed US-backed peace negotiations.

The number of demolitions increased by almost half, the displacement of Palestinians by nearly three-quarters, between July 2013, when the talks began, and the end of the year, compared to the same period in 2012, a statement released by 25 aid organisations on February 7 said.

On January 22, Israel announced plans for 382 homes in the occupied West Bank. Earlier in the same month it approved plans for 272 new homes in various illegal West Bank settlements followed by plans for more than 1,877 new units, some in occupied East Jerusalem.

Palestinians consider any settlements built beyond the pre-1967 territorial lines to be illegal and an obstacle to peace, while Netanyahu refuses to recognise the ‘Green line’ as a starting point for negotiations.

378

AL JAZEERA ENGLISH (AJE)

Russian Central Bank Announces Surprise Rate Hike

In an unexpected move, Russia’s central bank has raised its main interest rate to 7 percent from 5.5 percent.

The hike came as concerns mounted over the consequences of intervention in Ukraine for the Russian economy.

The Bank of Russia said the hike would take effect from 0700 GMT/UTC on March 3.

In a statement, it said the decision “is aimed at averting the appearance of risks for inflation and financial stability linked to the increased volatility on financial markets,” without specifically mentioning Ukraine.

Meanwhile, Russian stock markets opened down at least 6 percent and the ruble plunged to historic new lows on March 3.

The ruble was trading at 50 rubles to the euro and 36.85 rubles to the dollar.

Based on reporting by AFP, ITAR-TASS, and Interfax

Radio Free Europe / Radio Liberty

Bank Story

Spikedude19: A Great Bank Story!!!

I have a close friend who is a banker and I shared this investment with him. He was skeptical but bought $ 100.00 worth of dinar. After several months of me saying tomorrow, tomorrow this is happening he asked his bosses if this is legit. They said no it is a scam and it will never happen and to stay away from this.

He sold his currency back. He has been making fun of me that I am still working and this still has not happened. I told him I will prove it wrong, that it is happening.

Today he called me and told me that his bank had a meeting about the Iraq dinar. They were briefing everyone about foreign currencies, that the bank will be dealing with foreign currencies and how to process them.

He told me that they said the dinar was RVing and this was really going to happen globally. So all the banks are being informed. So now he’s a believer. It’s happening soon everyone. Hang in there everyone!

Dinar Daddy’s Tidbits

To resolve cash crisis Iraqi Kurdistan region $85m to bank

2-20-14 Business persons and investors of the Kurdistan region of Iraq have given $ 85m to the Central Bank of Kurdistan to help resolve the region’s cash crisis. It has been stated that the money will be used for paying salaries to the employees.

Teachers, laborers and some other workers have been on strike after weeks of delayed salaries.

According to the Iraqi Kurdish officials, the crisis has taken place when central government of Iraq did not send money to the Kurdish government. Leaders in Baghdad say the money has now been sent. Arbil and Baghdad are still locked in a dispute over Kurdistan’s independent oil exports.

Kurdish officials say Baghdad still owes the region billions of dollars in unpaid expenses. But the central government says Kurdistan has not calculated its expenses accurately. Iraq’s Kurdish deputy finance minister, Fazil Nabi, has resigned from his post due to Baghdad’s delay in paying Kurdistan’s salaries. But Iraq’s central government says the problem is simply because paying in cash is an outdated method.

LINK

Dinar Daddy’s Tidbits

Distributors Of False Kazakh Bank Information Identified

Kazakh authorities say investigators have identified individuals suspected of distributing false information regarding the country’s leading banks.

Hundreds of depositors rushed to branches of the three banks on February 18 to withdraw savings after they received text messages and online warnings that the banks were on the verge of collapse due to the devaluation of the tenge currency.

On February 19, the Kazakh prosecutor-general’s office did not give details of who was responsible for spreading the rumors, but said the investigation was continuing.

A prosecutor’s spokesman added that suspects could be charged with the intentional distribution of false information and could be ordered to pay compensation to Kaspi Bank, Alyans Bank, and Tsentrkredit Bank.

Kazakhstan’s National Bank last week announced a 19 percent devaluation of the tenge, triggering a rise in prices across the country.

Based on reporting by Kazinform and KazTAG

Radio Free Europe / Radio Liberty

Kazakh Bank Run Apparently Latest To Be Fueled By Social Media

It didn’t take much to send hundreds of worried people racing to three banks in Kazakhstan in an effort to withdraw their savings on February 18.

Just a few words on social media were enough, along with the public’s already jittery mood over Kazakhstan’s 20 percent devaluation of its currency, the tenge, on February 11.

An anonymous message circulating early on the morning of February 18 on WhatsApp warned that three of the country’s private banks — Kaspiy Bank, Alians Bank, and Centrcredit Bank — were on the verge of bankruptcy.

Within hours, large crowds had gathered at the Almaty and Astana offices of the banks to reclaim the money in their hard-currency accounts. When the surprised banks refused, fears that the banks were on the verge of collapse spread further.

The panic only subsided after one of the banks put out its own social-media message denying the rumors and offering about $ 500,000 for any information about the perpetrator.

The incident passed quickly but it isn’t likely to be forgotten in banking circles soon. One reason is it showed again what soft targets financial institutions are for rumors and tips on social media.

“Human beings are getting used to the idea that they are able to influence the world through social media and, of course, we are all being influenced because people are on social media trying to pick up information, trying to get ahead of the curve,” says Charlie Beckett, who tracks social media as a professor of journalism at the London School of Economics. “And financial and banking services are particularly vulnerable to very short-term shocks when there is gossip or a rumor.”

Learning Curve

The run on the three Kazakh banks is the latest in a string of such incidents that most famously includes a run on Sweden’s Swedbank in Latvia in 2011. There, 10,000 panicked savers withdrew the equivalent of 14 million euros from ATMs in a single day following rumors on Twitter that the bank was facing liquidity and legal problems in Estonia and Sweden.

Similarly, a message posted on the U.S.-based Craigslist website sent frightened savers scurrying to a California bank in 2009 and a message on a social-media site in Burma caused the mobbing of banks in Yangon in 2012.

The motives for such attacks vary. In some cases rumors have been started by dismissed bank employees seeking revenge. In others, the suspects may be commercial competitors. But in all cases, the rumormongers count on the public’s inability to filter fact from fiction in the constant swirl of abbreviated messages shared by social media users.

According to Beckett, social-media users are still on a learning curve. The fact that messages are often forwarded between friends causes many people to be less critical about checking sources than they might be with more established media like newspapers and television.

“Generally speaking, the advice has to be: don’t make decisions based on small messages — for example, on Twitter or Facebook,” he says. “Always think about what the sources are, whether you have trusted them in the past, and always check. You wouldn’t make a big decision based on an overheard conversation in a bar, so why make a big financial decision based on a short social-media message?”

Another Headache For Astana

Further details about the source of the rumors in Kazakhstan, and whether there is any substance to them, will have to wait until more is learned about the case.

But the incident is almost certain to add to the Kazakh government’s worries about the expanding presence of social media in the country and its ability to bring people onto the street with almost no forewarning.

Until now, the government has mostly been concerned about the use of social media for calling protests, including one on February 15 against the recent devaluation of the tenge. The unsanctioned rally brought some 100 people to the Almaty city hall, where police detained several dozen.

But the run on the three banks appears to have touched a still more sensitive nerve in the Kazakh ruling establishment than that rally.

“When people were calling people to protest…in advance of the Saturday [February 15] protest, they also used WhatsApp,” says RFE/RL’s Kazakh Service correspondent Dina Baidildayeva in Almaty. “But no one was trying to find those people who were calling for the unsanctioned protest. [However] in this case, the banks say they have filed a complaint to the prosecutor’s office to find the people who spread the information about them going bankrupt.”

Both political and financial power in Kazakhstan are tightly concentrated in the hands of loyalists of President Nursultan Nazarbaev. The chairman of Kazakhstan’s Central Bank, Qairat Kelimbetov, held a press conference on February 18 in Astana to reassure the public that all three of the private banks are stable.

Radio Free Europe / Radio Liberty

Reserve Bank of Australia Feb minutes judge rates stable as econ evolves

Investing.com –

Investing.com – The Reserve Bank of Australia board judged it was prudent to leave the cash rate unchanged at the February meeting and keep them that way for some time if the economy evolved as expected, according to minutes released on Tuesday.

The “most prudent course would likely be a period of stability in interest rates,” according to the minutes of the meeting in which the central bank kept the cash rate at a record low 2.5%.

There was no mention of a timeframe in the minutes, but the RBA noted some concern about fourth quarter inflation. that presented “something of a puzzle in interpreting the mix of activity and price data.”

The RBA has a mandate to keep underlying inflation within a band of 2% to 3% and fourth quarter data showed a gain above the mid-point to 2.6%.


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Bank of Japan board votes unanimously to keep monetary base target

Investing.com –

Investing.com – The Bank of Japan board on Tuesday decided at its monthly meeting by a unanimous vote to leave its policy target unchanged, maintaining the pace of large-scale financial asset purchases.

The board also decided unanimously to double the scale of its program to make low-interest loans to financial institutions leading to or investing in growth-oriented sectors and projects. The maximum amount of the loans will be raised to JPY7 trillion from JPY3.5 trillion.

The board also voted to expand another facility aimed at stimulating commercial bank lending that allows institutions to borrow funds from the BOJ up to an amount that is twice as much as the net increase in their lending.

Under the two programs, lenders will be able to borrow funds from the BOJ at a fixed rate of 0.1% per annum for four years, instead of the existing period of one to three years.

“The bank expects that these enhancements will further promote financial institutions’ actions as well as simulate firms’ and households’ demand for credit, with a view to encouraging banks’ lending and strengthening the foundation for economic growth,” the BOJ said.

As for the monetary policy target, the BOJ will continue conducting money market operations so that the monetary base will increase at an annual pace of about Y60 trillion to Y70 trillion. The annual pace of the BOJ’s purchases of Japanese government bond will remain at about JPY50 trillion.

BOJ Governor Haruhiko Kuroda will hold a news conference from 1530 local time (0630 GMT).


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Deputy: procedures for Central Bank requirements to enter the currency market’s banks to stabilize the dinar

Friday, February 14, 2014 11: 02

View National Coalition MP Kazem Al-shammari, the CBI action on setting conditions for banks to enter the currency market “will correct and important for the stability of the currency and the market in the long term.”

Al-shammari said in a statement received all Iraq in “talking about the high price of the dollar against the local currency because of the actions of the Central Bank to require banks to put their reserves at the Central Bank as a condition for entering the currency market is inevitable and will continue being a reaction of speculators and the weak banks to force the Central Bank to reverse its decision.”

“A bank is a true professional and will have significant positive impacts on the economy by ending the influence of speculators and non-discreet banks and reduce their influence that stretched the market and make it hostage to their whims and maintaining the effectiveness of the powerful and credible banks and guarantee, that works to serve the local economy”.

Shammari said “the need to support the actions of the Central Bank to prevent the return of currency traders benefiting from pulse market prices and those who make their living on entering the local market in successive crises from time to time to serve the powers have, built on the shoulders of the poor.” over

LINK

Dinar Daddy’s Tidbits

Tony says we should have been at the bank by now.

2-14-2014 Intel Guru TNT Tony We should have been in bank line right now. That was the intention for today. Today is Friday and their banks were open earlier exchanging to lower denoms, no USD can be used except for US bases. Things were in motion last night but they were stopped…it was serious to make sure it was taken care of and has been resolved. This time it was not the US that stopped it. This one thing held us up but they set a new time table and I’m expecting it this weekend. Call centers & exchange centers are there. The rates changed again yesterday. They went up higher than discussed before. It was made better for you yesterday.

Dinar Daddy’s Tidbits

Saleh: Central Bank intervention in the market to keep the exchange rate of the dinar

Deputy former central bank governor, on Wednesday, said the central bank intervention in the market to maintain the stability of the Iraqi dinar and maintain purchasing power.

He said the appearance of Mohammed Saleh told the “time”, that “the Iraqi dinar is protected range is strong, and the cover of foreign currency is very high unless they are used for the purposes of reserves dedicated to the support of the Iraqi dinar.”

“The currency’s rise and descent depends on the actions of monetary policy, and there is nothing looming on the depreciation of the dinar against the dollar,” explaining that “the central bank intervenes in the market to maintain the stability of the Iraqi dinar and maintain the purchasing power of the Iraqi dinar and this is called the value of foreign money “.

He believed that “the financial market is stable, and the stability of the indicators of whether or not to clear the relationship between the price of the Iraqi dinar against the dollar,” adding that “the greatest threat to the dinar is the external conditions such as the price of oil and Iraq’s revenues.”

He was a member of the Committee on the economy and investment representative, accused the Central Bank, to take action intended to demolish the domestic economy, returned its decision without deliberate and aimed to hit the local currency market.

LINK

Dinar Daddy’s Tidbits

Bank of England updates forward guidance on interest rates

Investing.com –

Investing.com – The Bank of England updated its forward guidance on interest rates on Wednesday, saying that it will not raise rates until the spare capacity in the U.K. economy has been fully absorbed.

The BoE indicated that it will keep interest rates on hold at record lows of 0.5% for at least another year, despite upgrading its U.K. economic growth forecast for 2014 to 3.4% from 2.8%.

Speaking after the bank published its latest quarterly inflation report, BoE Governor Mark Carney said the U.K. unemployment rate has fallen much faster than the bank anticipated, and will hit the initial 7% threshold “in the spring”.

In the six months since forward guidance was implemented the U.K. unemployment rate has fallen to 7.1% from 7.8%.

“Despite the sharp fall in unemployment, there remains scope to absorb spare capacity further before raising the Bank Rate,” the bank said.

The bank outlined new forward guidance, saying that it will not raise rates until the spare capacity in the U.K. economy has been fully absorbed, which it does not see happening until 2015.

The bank said it would consider a broader range of indicators, including the unemployment rate, wages and productivity and business surveys when deciding to raise rates, and added that when rates rise they will do so only gradually.

Ongoing increases would then be “gradual and small”, in order keep inflation close to the bank’s target of 2%.

“The actual path of bank rate over the next few years, will, however, depend on economic developments,” the bank said.

“Even when the economy has returned to normal levels of capacity and inflation is close to the target, the appropriate level of bank rate is likely to be materially below the 5% level set on average by the committee prior to the financial crisis.”

Governor Carney also said the U.K. economic recovery had “gained momentum”, but warned that it was “neither balanced nor sustainable”.


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Kazakh Currency Plummets; National Bank Eases Support

Kazakhstan’s central bank said it has decided not to intervene aggressively to reverse a sudden decline in the value of the national currency, the tenge, due to market volatility.

The slide halted currency-exchange businesses’ dollar-based transactions and shuttered many shops across the country, where many retailers pay hard currency for goods abroad.

In a statement, the bank said it would ease its support for the tenge, which has fallen sharply in the past 24 hours, and limit its interventions in the domestic currency market.

It added that the gradual decrease of the U.S. Federal Reserve’s stimulus program had led to a capital outflow from emerging economies to developed ones, putting pressure on emerging-market currencies.

The rate was 186 tenges for $ 1 at the opening of Kazakhstan’s Joint Stock Exchange on February 11, while the rate was $ 1 to 156 tenges the day before, a drop of 19 percent.

The chairman of the National Bank of Kazakhstan, Qairat Kelimbetov, told journalists that his institution would be able to stabilize the rate at 185 tenges for $ 1.

Kelimbetov also said the devaluation was necessary for the country’s industrial facilities to maintain their operations, adding that everything will be done to keep the annual inflation rate at the 6-8 percent level.

In one of his recent public statements, Kelimbetov had called on citizens to keep their savings in tenges.

In addition to many other retail closures, leading car dealers in Kazakhstan — including Merkur Avto, AllurAuto, and Bipek Avto — announced on February 11 that they have suspended operations until the tenge’s official rate is stabilized.

RFE/RL correspondents in Kazakhstan report that almost all currency exchange points across Kazakhstan have either stopped selling dollars and euros or have completely closed. In Almaty, however, one of the country’s leading banks, BTA, is selling $ 1 for 190 tenges, while Alyans Bank offers $ 1 for 215 tenges. Also in Almaty, one private exchange point is offering $ 1 for 205 tenges.

In the capital of the Almaty region, Taldy-Qorghan, it is possible to buy $ 1 for 220 tenges in some places. In the northwestern city of Aqtobe, some banks are offering $ 1 for 189 tenges.

The situation has sparked fierce reactions on the Internet and social media sites. Many say it is unlikely that their salaries will be recalculated by taking the new rate into account, while prices in stores and marketplaces will no doubt rise dramatically, since Kazakhstan mainly imports its goods from abroad.

Some labor migrants from Kyrgyzstan, Uzbekistan, and Tajikistan are concerned, as well. Thousands of labor migrants in Kazakhstan are paid in tenge, which they usually exchange for dollars, sending the hard currency back to their families in their home countries.

The last abrupt devaluation of the tenge was in 2009, when Kazakhstan’s central bank decreased its value from 117-123 tenges for $ 1 to 150 tenges for $ 1.

Based on reporting by KazTAG, Kazinform, Reuters, Bloomberg, AFP, and Interfax

Radio Free Europe / Radio Liberty

Reserve Bank of Australia adopts stable posture on interest rates

Investing.com –

Investing.com – The Reserve Bank of Australia kept its cash rate at a record low 2.5% as expected following a board meeting on Tuesday and signalled that a prudent course looking forward would be “a period of stability in interest rates.”

“In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates,” said Governor Glenn Stevens in a statement.

The central bank said slightly firmer consumer demand foreshadows a solid expansion in housing construction that along with improved business conditions and confidence are positives, but that waning resources investment and weak labor demand and wages offset those factors, setting the stage for a period of rate stability.

“Looking ahead, the Bank expects growth to remain below trend for a time yet and unemployment to rise further before it peaks,” Stevens said.

“Beyond the short term, growth is expected to strengthen, helped by continued low interest rates and the lower exchange rate. Inflation is expected to be somewhat higher than forecast three months ago, but still consistent with the 2% to 3% target over the next two years.”


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Specialists: the central bank will control the gold market

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 support the Iraqi economy, and as pointed out that the increase in demand for buying gold, “indicating a recovery the living conditions of the citizens “, they stressed that the Iraqi market imports about” 5 tons of gold per month which is the largest amount in the history of Iraq. ”

The deputy governor of the Central Bank of the previous appearance of Mohammed Saleh 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 for gold and money as to help support various sectors of the Iraqi economy, “he said, adding that” banks, mortgage foreclosures Almkhclat accept gold for the money you 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 situation of people 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 guaranteed and the origins of the world and the best that items imported traders at the moment and therefore this measure will enhance the chances of including increased credit will reflect positively on improving the situation of citizens living and the national economy in general. ”

He pointed out that the benefit “of the former regime was in control of the gold trade in Iraq passed through strict instructions imposed on traders to get what they need through the purchase of the Iraqi Central Bank, who 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 “has never been absorbed markets Baghdad and the provinces amounts exceed 50 tons per year. ”

He Wa’ili that “the central bank a clear imprint on the gold market, where he had previously inspection teams and control periodically 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 vary according to the quantity and quality desired by merchants Some of them imported from the United Arab Emirates, Kuwait, India, Italy, Iran or Turkey.”

The Iraqi Central Bank has decided, in (January 23, 2014), “SEC assortment of gold bullion” to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that “this action represents one of the tools of monetary policy to the Bank.”

In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

The Iraqi Central Bank 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.

The International Monetary Fund, it was announced, 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 “revenue oil unexpected. ”

Financial experts confirmed that Iraq’s stockpiles of reserve funds have covered liquidity 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.

LINK

Dinar Daddy’s Tidbits

CBI Governor: Bank Restructuring to be Complete by end of 2014

1-27-14 CBI has received many applications, by many banks, but so far has not been approved, but the licenses of two foreign banks to operate in the country.

The newspaper quoted the “National” American Abdel Basset Turki, Governor of the Central Bank of Iraq, saying, “We’re going to give approval of the two banks in the region, but not the Gulf and will be scrutinized Bouksosma.”

The speculation in the Iraq conference in Dubai, the financial lenders to two Lebanese banks, some of them already in the Kurdistan region.

And the country is looking to open its doors for foreigners to work by modernizing infrastructure, and increase services and strengthen the banking sector, which includes mostly private banks.

And imposed on the capital increase for the lenders of the private sector in an attempt to improve risk management and enhance corporate governance and shareholders’ equity separate from the bank’s management. The private banks raised the increase to 250 billion Iraqi dinars last June.

Turki said that “five of the lenders are expected to face the problems now, in addition to the Warka Bank, which was considered a dominating by Standard Chartered Bank a few years ago,” noting that “the Bank of Basra was being liquidated.”

Two of the banks, the government suspended their operations since the 2003 war as a result of their inability to repay government debt dating back to the Saddam Hussein regime. It is scheduled to be completed restructuring efforts by the end of this year.

According to Turkish “We moved in late to do the restructuring., And I think we should have been doing it before, but I think that by the end of 2014 will be all about. Has been solving the problems of financial and accounting in a good way, and the only problem remaining is administrative.”

According to Standard Chartered, the percentage of Iraq’s debt to GDP in 2003, about 800 per cent. After many debt relief programs, write off about 80 per cent of the debt in the Paris Club, the debt has declined in the country, so it should be external debt is about 25 per cent of GDP by the end of 2013.

Said Andrew McCartney, a specialist in global banking International Finance Corporation, “The banking sector in Iraq is evolving and diversified its economy away from oil, the main challenge in the banking industry is how to engage in the profitability and sustainability.”

LINK

Dinar Daddy’s Tidbits

Bank of Japan Dec board minutes say easing policy showing results

Investing.com –

Investing.com – Bank of Japan board members largely agreed that an aggressive easy policy started in April 2013 has shown a cummulative effect on economic prospects and there is not an imminent need for additional steps, according to minutes from the Dec. 19 to 20 policy-setting meeting released on Monday.

“Members shared the recognition that these continued to firmly take hold, and financial conditions were easing steadily to underpin firms’ and households’ spending,” the minutes said, though one board member expressed concern about a prolonged easy policy.


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My girlfriend visited a Wells Fargo bank today..

1-24-14 Treeman: My girlfriend visited a Wells Fargo bank today and was told the contract rate exists and we are not included. Then he said the party line of no dealings in iqd till traded internationally. He showed interest in the vnd she has and confirmed her branch would exchange her currency.

I was amazed he admitted knowledge of the contract rate. This fellow was a new employee and Chinese. My girlfriend has dealt with them for thirty yrs and is a pushy gal when needed. She had to do a little bullying to get this info. Just another little bit of confirmation we are finally seeing.

Dinar Daddy’s Tidbits

Central Bank decides “SEC gold bullion” to sell investors and segments of society

1-23-14 Long-Presse / Baghdad: Decided to CBI, on Thursday, “coined a variety of gold bullion” to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that “this action represents one of the tools of monetary policy to the Bank.”

According to a statement to the CBI received (range Press) a copy of it, he was “for the purpose of diversification means savings to the public and to provide large quantities of gold from Mnashye sober sold to dealers in gold, investors and society Bdinaralaraca, decided the bank’s board in consultation with the Committee on Economic Affairs seeks a variety of gold bullion ranging between the weights (5 g and 1000 g). ”

The statement added that “the Bank began contracting procedures for gold bullion imported and then sold through the banking system,” noting that “this action represents a monetary policy tools of the central bank.”
In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

The Iraqi Central Bank revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, the reserve is expected to increase over the coming months.

The International Monetary Fund, it was announced, 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 “revenue oil unexpected. ”

Financial experts confirmed that Iraq’s stockpiles of reserve funds have covered liquidity 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.

LINK

Dinar Daddy’s Tidbits

Confusion, Chaos, Mayhem and Bad Bank Ethics

1-16-14 Bluwolf: People who deceive good people turn them into unwanting liars, but if it fits there purposes or agendas they just don’t care who they hurt.

They by their disinformation have created confusion, chaos, mayhem and bad bank sportsmanship. They have aroused the masses making them do uncalculated and some what stupid intents or reaction to this bunch of lies making it so that even the providers are confused and this was the soul purpose.

I see no changes whatsoever on any category that pertains to this international release, I notice a lot of folks going silent ( nda ) and this is a good sign.

The official UST elected clearance house ( bank ) is awaiting patiently for there Go, my group its leader and all the rest of us are doing the same. So that is where we seriously are at.

Be in peace knowing that nothing has changed, you just cannot say that I didn’t warn you about the greedys malintended and deceiving expressions both by the greedys in bank and dirty politics.

Please be wise and analysis everything said and if it doesn’t smell good then don’t eat it.

There are many lawyers who are dinarians and they are just waiting to see the intentions of how this thing is coloured, if the the exchange is different ln rate like some are saying preference for the elite and a low rate for us you can bet that there will be the cause for the biggest class action lawsuit ever given on a currency exchange.

Word to the wise is even illegal to even dare mentioning it on these sites so providers be on alert for what you have mentioned is unreal and unjust to all and honestly I do not think that bank or political party involve will dare to have 28 million dinarians sticking a class action lawsuit down your throats so be advised.

This is the way I am seeing this at this time I just hope that these folks desist from feeding out this malintended misinformation for it is stupid of you to even think that we are like you STUPID.

Be wise and get it done and we want all the correct 800#, it is about that time that you show us respect, I or we do not expect any less. Are we clear?

Dinar Daddy’s Tidbits

Central Bank calls for Australian banks to open branches in Iraq

1-13-14 Alsumaria News / Baghdad: The Central Bank of Iraq, Sunday, the possibility of providing immunity for his money in Australian banks, calling for the Australian banks discreet to open branches in Iraq.

The statement said the bank has received “Alsumaria News” copy of “The Governor of the Bank and the Agency Abdel Basset Turki discussed with the Australian Ambassador to Iraq, the possibility of providing immunity for central bank money to the Reserve Bank of Australia.”

The statement added that “the talks also included to encourage Australian banks to open branches in discreet inside Iraq to carry out banking activities different.”

The Australian states that good relations with Iraq, which has a joint cooperation in the agricultural and commercial sectors, as Ed is the states that receive Iraqi refugees.

LINK

Dinar Daddy’s Tidbits

Finance Minister discusses with World Bank representative ways of assistance

BAGHDAD / Nina / R & D Finance Minister. Zia net debt with the World Bank representative in Baghdad, Mr. Emmanuel aid mechanism which intends World Bank submitted to the Ministry of Finance.

During the meeting the net with a representative of the World Bank to discuss technical assistance that intends to World Bank submitted to the Ministry of Finance in the areas pertaining to the work of the ministry.

presented net thanks the efforts made ​​by the World Bank team in Iraq. , and the World Bank is one of the specialized agencies of the United Nations in dealing with development.

Has started its activities to assist in the reconstruction of Europe after World War II and to provide assistance to developing countries, Arab and European

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Israel raids on West Bank homes condemned

Human rights groups have reported a rise in Israeli military training exercises being held in Palestinian towns and villages.

Israel was condemned by the groups on Thursday, after reports of soldiers taking up positions in Palestinians homes during mock raids in the occupied West Bank and Palestinians being detained for hours without explanation.

The criticism came as US Secretary of State John Kerry was due to arrive in the Middle East on Thursday, hoping to seal a long-elusive peace deal between Israel and Palestinians.

Kerry left on Wednesday for his 10th tour to Israel and the West Bank aiming to hammer out a framework to guide the talks.

After getting the two sides back to the negotiating table in 2013 following a three-year hiatus, Kerry was starting the new year with a special effort to try to move the Israeli-Palestinian negotiations forward,a senior State Department official said.

The peace guide would provide a basis to negotiate the final peace treaty.

Deadline looms

“The guidelines for what the final deal would look like would be agreed upon, and then you would work intensively to fill out the details,” the official said.

Both sides have held about 20 rounds of direct talks since they resumed negotiations in July, agreeing to keep talking until the end of April.

But the deadline is looming, and despite Israel’s release on Tuesday of a third tranche of Palestinian prisoners, there have been little signs of progress amid growing pessimism Kerry’s push will just join the long litany of failed US peace efforts.

Human rights groups including Breaking The Silence said the Israeli military’s exercises in the West Bank broke the law and endangered civilians.

“I’m not sure as an Israeli would agree that somebody would do it in my street, to raid my house as part of a training,” Breaking The Silence’s Shai Davidovitch told Al Jazeera.

“That’s why I think it’s wrong.”

US officials cautioned they were not expecting any breakthroughs in the peace talks on Kerry’s latest trip, which comes just as Abbas threatened to take legal and diplomatic action to halt Israeli settlement building. 

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AL JAZEERA ENGLISH (AJE)

Central Bank monetary policy threatens to collapse

Warned parliamentary sources familiar with the collapse of the Iraqi monetary policy in light of the continued dollar selling in the auction of the Central Bank, and revealed a blueprint for the continuation of the process of money laundering agreement with American officials through non-recognition of the Iraqi dinar in international transactions.

The sources said that “the financial policy of Iraq at a critical juncture in the light of the growing phenomenon of selling the dollar at the central bank auction to sell the currency,” indicating that “the government is not aware of this risk and is oblivious also on the level of collapse concealer suffered monetary policy in light of the marginalization of the presence of the Iraqi dinar, which What still is not recognized in international business dealings despite the passage of 11 years since the change of the former regime and the lifting of international sanctions on Iraq. ”

The sources pointed out that “the failure to adopt the Iraqi dinar in business dealings and international economic serves as the execution of the Iraqi economy, arbitrary and intentional,” pointing out that “this phenomenon, according to foreign experts within the biggest corruption in the history, the agreement between senior American and international companies leading the laundering operations and money laundering. ”

Previously, specialists in economic affairs that strongly criticized the policy of the central bank in control of the Iraqi dinar exchange rate and demanded reconsideration of the auction sale of the dollar, but the latter insisted on continuing to sell foreign currency and Usaha to include all government and private banks.

The bank said in a statement issued in the month of April, “The process of cash sales for the dollar continues through the central bank auction conducted by the sale of foreign currency,” adding that “sales operations include all government and private banks, according to quotas and timings of time so special” .

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Central Bank of Iraq’s Dinar auction sale exceeds $171 million USD on 26 December 2013

12-28-13 Baghdad (IraqiNews.com) The Central Bank of Iraq reported in statement received by IraqiNews.com “During Thursday auction session, the CBI sold USD $ 171,988,000 at price of 1166 Iraqi Dinars with the participation of 19 banks.”

”The price of bank transfers sales reached 1179 Iraqi Dinars per $ 1 USD including the commission deducted by the CBI while the price of US dollar cash reached 1171 Iraqi Dinars,” the statement added.”

The CBI will continue selling US dollar in return of 1166 Iraqi dinar within the same commission,” the statement pointed out.

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A committee to study the objection of Warka Bank

12-26-13 BAGHDAD / JD / .. The General Secretariat of the Council of Ministers for the formation of a committee to study the objection Warka Bank, as revealed that the membership of this committee will be of Finance and the Central Bank and integrity.

The Secretariat said in a statement received / JD / copy of it: a committee was formed to study the objection Warka Bank for Investment and Finance and find ways to help him and the advancement of its present financial position.

The statement said: that the Committee will be chaired by Director General of credit control and the Ministry of Finance and its membership includes all of the director of the legal department at the Central Bank, the Director General of the

Department of Finance and Administrative Authority Integrity, and Associate Director of the Office of experts in the Ministry of Finance.

It is noted that the CBI did not raise guardianship for Warka Bank, despite the court’s decision, it is compatible with the reports of the committees set up by the Prime Minister, in addition to the company (kpmg) U.S., specialized accounts and internal reports of the Central Bank of Iraq, which unanimously agreed on the possibility of rehabilitation of the bank with an appropriate solution for it.

The body was discriminatory in Baghdad to resume the presidency – Rusafa Supreme Judicial Council has decided to cancel the tutelage of the Central Bank of the Warka Bank after a hearing held under the chairmanship of President Jaafar Hassan Ali and his two deputies membership gesture Hamel Ojaili and Najim Abdullah Mohsen.

The authority said it is discriminatory in its resolution “on 29 – 2-2012 board decided to put the CBI custody of the Warka Bank for Investment and Finance ..

After auditing body in the central bank’s decision has decided to accept the appeal against the decision of the guardianship having found that the ruling is incorrect and contrary to law because the central bank when he decided to put guardianship did not take into account the provisions of the law or foundations, which calls for taking as he did not take the necessary measures to provide liquidity for the bank, although it from his duties. ”

She said the discriminatory in its decision that “the Ministry of Finance may have contributed to its proceedings of the withdrawal of government deposits from private banks in a crisis in the financial situation of the Warka Bank because it was the mainstay of its liquidity cash .. also that the central bank did not take the necessary measures to improve the situation of the bank, although this is of his responsibilities as did not give him the required loans to get out of its financial crisis and called for the commissions set up by the Bank to address the financial situation of the Warka Bank. “/ End

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Turkish Police Arrest Sons Of Ministers, Bank Manager

Turkish police have arrested 16 people, including the sons of two cabinet ministers and the general manager of the state-owned Halkbank, in a corruption investigation.

The formal arrest and charging of the sons of the interior and economy ministers on December 21 comes as the government calls the investigation a politically motivated effort to undermine public confidence in it ahead of local and presidential elections next year.

Turkish Prime Minister Recep Tayyip Erdogan has hit back by removing heads of police units from their post, including 14 in Ankara on December 20, and by sacking the head of Istanbul’s police on December 19.

The investigation centers on bribery and fraud allegations in connection with Turkish state payments for Iranian energy being secretly converted from cash into gold and delivered to Tehran via Dubai, despite international sanctions on exporting precious metals to Iran.

Based on reporting by Reuters and AFP

Radio Free Europe / Radio Liberty

World Bank grants Iraq $ 355 million loan

Baghdad (NINA) – The World Bank’s Board of Governors agreed to grant Iraq USD 355 million loan to finance its transportation system.

In a statement to the press on Friday, Dec. 20, The Bank said that the project aims to limit road accidents by 25% by two side roads with Iraq’s northern western and southern neighbors.

It added that the project aims to improve the roads’ quality and safety, as well encourage citizens in public life, in addition to consolidate national unity and regional trade integration.

The statement pointed out that the project will be executed with the cooperation of Iraqi government who will contribute USD 384 million and the Islamic Bank for Development with USD 217, as a first stage. / End.

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