Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

I know this has been posted earlier but just looks so good had to repeat it......!

Monetary policy to enhance the liquidity of Iraqi banks

(Voice of Iraq) - 07-03-2007
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Baghdad-Adel Mahdi life-07 / 03 / 07 / /

The <Iraqi Central Bank> that the new monetary policy, will enhance the ability of banks to manage liquidity of the short-term.

The statement of the bank <that this policy will be in accordance with a variety of variables and determined, including the amount of growth in the offers of cash, and the ability to manage liquidity and monetary policy instruments Abide by him>. He added that the new mechanism <include working with the currency markets and securities, to find an effective payment system gives banks the confidence to meet payment obligations to it and at a reasonable cost, he said, pointing out that the most costly in the provision of liquidity, is the use of additional precautions such as money in the coffers, The stocks in excess of the legal reserve requirements need>.

The statement pointed out that <margins of the difference between interest rates on deposits and loans, can be reduced by allowing the banks to reduce the acquisition proceeds precautions resulting from the excess does not carry interest> explaining that <depend on the ability of banks to reduce excess reserves, and finding reliable media in the management of liquidity>.

The statement <Central> amid increasing calls on the banking sector, to make way for banks to contribute to the comprehensive economic reform, which features emerged in many of the measures and actions, including important sectors, most notably financial and monetary reforms, which were able to play its role of moving through many aspects in the development of the economy, through savings mobilization, and providing sources of funding.

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Amendment of the rules of procedure of the Ministry of Finance No. (1) of the 1990 Al-Ahram

This is good, we had something similar yesterday. Forex here we come.



(صوت العراق) - 07-03-2007(Voice of Iraq) - 07-03-2007
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بغداد - عادل مهدي الحياة - 07/03/07//Baghdad-Adel Mahdi life-07 / 03 / 07 / /

أكد «البنك المركزي العراقي» ان السياسة النقدية الجديدة، ستعزز قدرة المصارف على إدارة السيولة ذات الآجال القصيرة الأمد.The <Iraqi Central Bank> that the new monetary policy, will enhance the ability of banks to manage liquidity of the short-term.

وأوضح بيان للمصرف «ان هذه السياسة ستوجه وفقاً لمتغيرات وسطية متنوعة، بينها مقدار النمو في العروض النقدية، والقدرة على إدارة السيولة وأدوات السياسة النقدية المتبناة من قبله».The statement of the bank <that this policy will be in accordance with a variety of variables and determined, including the amount of growth in the offers of cash, and the ability to manage liquidity and monetary policy instruments Abide by him>. وأضاف ان الآلية الجديدة «تتضمن العمل مع أسواق النقد والأوراق المالية، لإيجاد نظام تسديد فاعل يمنح المصارف الثقة في تلبية التزامات الدفع لديها وبكلفة معقولة، مشيراً إلى ان الأكثر كلفة في توفير السيولة، هو استخدام احتياطات إضافية كالنقد في الخزائن، والأرصدة الزائدة عن حاجة متطلبات الاحتياط القانوني». He added that the new mechanism <include working with the currency markets and securities, to find an effective payment system gives banks the confidence to meet payment obligations to it and at a reasonable cost, he said, pointing out that the most costly in the provision of liquidity, is the use of additional precautions such as money in the coffers, The stocks in excess of the legal reserve requirements need>.

وأشار البيان إلى ان «هوامش الفرق بين أسعار الفائدة على الودائع والقروض، يمكن ان تُقلص بالسماح للمصارف بتقليل حيازتها عوائد ناجمة عن احتياطات زائدة لا تحمل الفائدة» موضحاً ان «قدرة المصارف تعتمد على خفض الاحتياطات الزائدة، بإيجاد وسائط يُعول عليـها في إدارة الســيولة».The statement pointed out that <margins of the difference between interest rates on deposits and loans, can be reduced by allowing the banks to reduce the acquisition proceeds precautions resulting from the excess does not carry interest> explaining that <depend on the ability of banks to reduce excess reserves, and finding reliable media in the management of liquidity>.

ويأتي بيان «المركزي» وسط تزايد دعوات المعنيين بالقطاع المصرفي، الى فسح المجال أمام المصارف لتساهم في الإصلاح الاقتصادي الشامل، الذي برزت معالمه في العديد من التدابير والإجراءات شملت قطاعات مهمة، أبرزها الإصلاحات المالية والنقدية، التي استطاعت ان تؤدي دورها من خلال تحريك جوانب كثيرة في عجلة الاقتصاد، من خلال تعبئة المدخرات، وتوفير مصادر للتمويل. The statement <Central> amid increasing calls on the banking sector, to make way for banks to contribute to the comprehensive economic reform, which features emerged in many of the measures and actions, including important sectors, most notably financial and monetary reforms, which were able to play its role of moving through many aspects in the development of the economy, through savings mobilization, and providing sources of funding.

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Originally Posted by CharmedPiper

I know this has been posted earlier but just looks so good had to repeat it......!

Monetary policy to enhance the liquidity of Iraqi banks

(Voice of Iraq) - 07-03-2007
This issue was sent to a friend

Baghdad-Adel Mahdi life-07 / 03 / 07 / /

The <Iraqi Central Bank> that the new monetary policy, will enhance the ability of banks to manage liquidity of the short-term.

The statement of the bank <that this policy will be in accordance with a variety of variables and determined, including the amount of growth in the offers of cash, and the ability to manage liquidity and monetary policy instruments Abide by him>. He added that the new mechanism <include working with the currency markets and securities, to find an effective payment system gives banks the confidence to meet payment obligations to it and at a reasonable cost, he said, pointing out that the most costly in the provision of liquidity, is the use of additional precautions such as money in the coffers, The stocks in excess of the legal reserve requirements need>.

The statement pointed out that <margins of the difference between interest rates on deposits and loans, can be reduced by allowing the banks to reduce the acquisition proceeds precautions resulting from the excess does not carry interest> explaining that <depend on the ability of banks to reduce excess reserves, and finding reliable media in the management of liquidity>.

The statement <Central> amid increasing calls on the banking sector, to make way for banks to contribute to the comprehensive economic reform, which features emerged in many of the measures and actions, including important sectors, most notably financial and monetary reforms, which were able to play its role of moving through many aspects in the development of the economy, through savings mobilization, and providing sources of funding.

Apologies, just found it myself. Great news.

Basra governor calls on the Arab Gulf investors for the implementation of a project <port

(Voice of Iraq) - 07-03-2007
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Basra governor calls on the Arab Gulf investors for the implementation of a project <Port of Greater Iraq>
Basra-called life-Aziz, 07 / 03, 07 / / /

The Governor of Basra Muhammad Misbah Alowaeli Arab companies (especially AAA), to provide global design special b <Iraqi port of the great>, to be set up at the mouth of the Shatt al-Arab in the city of Faw, (100 km south of Basra).

The Alowaeli told that <life> <draft port first step in establishing a broad investment Iraqi beginning of Basra, he said. set up in a safe area 100%, located outside the city, and isolated from any political activity or party, which is protected from the Iraqi security forces, which will help investors call for consultation>.

He singled Alowaeli calling investors in the Gulf, Kuwait, the United Arab Emirates and Saudi Arabia, preferring their presentations to foreign bidders, most tied to the families as part of the optical links The ratios with businessmen Khalijin Rumors, as well as a work area in the Arabian Gulf region, and facilitating the transfer of equipment and machinery across common water.

He denied Alowaeli information about the fears of some businessmen from the Gulf, the Iranian influence in Basra, pointing out <that this fears are mere illusions produce some enemies of the city, and political opponents, in order to obstruct the reconstruction projects in the city>.

He explained that the project includes the construction of a port to accommodate the anticipated requirements of reconstruction, and the mechanism will work on several stages, comprising building docks, warehouses, railway, linking Iraq's ancient Silk Road, connecting Europe to Iraq, in addition to the construction of housing units and chalets The parks and recreational projects, will be given by the central law, stressing the desire European banks to fund the project.

Iraqi Dinar stable; Dollar demand high says Iraq Central Bank

Iraqi Dinar stable; Dollar demand high says Iraq Central Bank - Stop Islamic Fundamentalism



Stop Fundamentalism, February 27 - Iraqi Dinar closed just below 1288 Dinars per Dollar today at Iraq’s Central Bank Auction. This is unchanged from last Tuesday, says the ICB.

"Since the introduction of new Iraqi Dinar, this currency has demonstrated a great potential in gaining value against Dollar. Just last November and December Dinar was sold for prices above 1400 per Dollar.

Reports indicate a high volume of trade at Iraq’s Central Bank through its network of 14 participating Banks throughout Iraq.

Economist Abdul-Razzaq Sadeq al-Abaiji told the independent news agency “Voices of Iraq” (VOI) that, "The exchange rate was stable for more than a week now leading traders to offer selling dollars in today's auction."

"The offers to sell dollar encouraged the Central Bank to cover all bids for dollar during Tuesday's session.” Abaiji added.

Azaman reported on Monday that the Central Bank had failed to cover bids made in its daily auction for dollar resulting in a decline in the demand ceiling to less than $34 million.

Some analysts anticipated last year that the Iraqi government plans to push Iraq’s Dinar value high to be fixed at 1000 per Dollar. Iraq’s Central Bank later on denied such initiative. Whether that is true or not the prediction seems to be coming to reality after all."

Originally Posted by Pippyman

Some analysts anticipated last year that the Iraqi government plans to push Iraq’s Dinar value high to be fixed at 1000 per Dollar. Iraq’s Central Bank later on denied such initiative. Whether that is true or not the prediction seems to be coming to reality after all."

Interesting - they've used this same quote before when talking about the daily auctions. Either some writer is lazy or.... no, probably a lazy writer.

Planning expects improvement in the economic situation in the coming months
بغداد- عمر عبد اللطيفBAGHDAD - Omar Abdel-Latif
توقعت وزارة التخطيط والتعاون الانمائي ان تشهد الاشهر المقبلة تحسنا في الوضع الاقتصادي نتيجة وصول القروض التي خصصت للبلاد من البنك وصندوق النقد الدوليين. According to the Ministry of Planning and Development Cooperation coming months to see an improvement in the economic situation because of the arrival of the loans allocated to the country of Bank and the IMF.


وقال مصدر مسؤول في الوزارة في تصريح صحفي: ان التخطيط تسعى لتنفيذ جميع المشاريع التي تهدف لاعادة اعمار البلاد مع انطلاق خطة امن بغداد مشيرا الى انه ستكون هنالك مشاريع استثمارية عاجلة لتوفير فرص العمل خلال المدة المقبلة.An official source in the ministry in a press statement : planning seeks to implement all the projects that are aimed at reconstructing the country, with the launch of Baghdad security plan, he said, will be there is an urgent investment projects to provide employment opportunities during the next term.
واكد ان نسب البطالة التي بلغت مؤشرا كبيرا بحسب آخر المسوحات الاقتصادية دفعت بالهيئة الاستراتيجية لاعادة الاعمار الى التركيز على المشاريع الاستثمارية لدعم الاقتصاد وتوفير فرص العمل في القطاعين الخاص والعام. The unemployment rates, which amounted to a major indicator, according to the latest surveys, economic department paid for the reconstruction strategy to focus on investment projects to support the economy and provide employment opportunities in the private and public sectors.

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Updated chart CBI currency auctions.....

Originally Posted by Pippyman

Updated chart CBI currency auctions.....

Pippyman,
Is there anyway to get a link to this chart. Would love to read it, but it is too small for me to see it here. Thanks!