View Full Version : Important CBI Meeting Apr 7 2015

04-08-2015, 12:49 PM
Thanks HG, good find


Tuesday, April 7, 2015 | 01: 33 pm

The parliamentary Finance Committee hosts a Central Bank Governor and senior staff Baghdad:

The parliamentary Finance Committee, hosted Tuesday, headed by Ahmed Chalabi, Deputy Chairman and members of the Committee attending the Central Bank Governor and senior staff to discuss assets and net reserves and net domestic credit in the Bank's balance sheet and cash basis and effect of increasing the oil reserve to reduce cash basis.

The Committee said in a statement it had received "into Iraq News" as discussed by hosting attended consultant and former Deputy Governor of the Central Bank and the Director-General of the Directorate of the Treasury and Director of the Directorate of accounts and banking and credit manager and Director of the Centre for banking studies and Director of the money laundering reporting Office at the Central Bank, assets and net reserves and net domestic credit in the Bank's balance sheet and cash basis and effect of increasing the oil reserve to reduce cash basis, and causes the movement of the exchange rate on the market Monopoly profits gap affecting the official exchange rate, and find the "microprocessors.

The statement said that the Committee had discussed the banking law and the law against money laundering, money transfer companies numbering more than 1,500 companies, as well as the development of investment banking with bank liquidity to liquidity standards and to require banks to allocate credit and review statistics for the monetary and credit investments, total assets and overall systems ".

He noted that the Committee had discussed the project, delete the zeros and the implications of the creation of financial groups facilitate storage and study of new factors and conditions in the market and inflationary effects and ways to maintain currency of fraud prior to implementation. (Interesting that this committee is linking "Delete the Zeros" with "Inflationary Effects")

Senior staff reviewed the oil economy property in Exchange for reserve economy properties and relationship between international reserves and the exchange market and the effect of rate of inflation, which affects the rate of dinar, the deterioration of the competitiveness of the country's industry and Agriculture and the bilateral real exchange rate and changes in it, and demand pressures on the foreign currency.

His proposed Attorney Haitham al-Jabouri, a member of the Finance Committee, according to the statement, the Central Bank to address the Ministry of trade and industry on imports and exports in cooperation with the parliamentary Finance Committee, wondering about the overall management of the Bank in the Rafidain Bank and Rasheed to prevent acquisition (Income and Outcome) and the address of the Office of financial supervision to check volume walmalbgh the need for follow-up and financial management of the Bank on banks by the Central Bank because it is a problem of corruption in the sector, asking about the role of the World Bank regarding The issue of banks losing in Basra and Baghdad that do not have adequate reserves to pay all deposits and money laundering companies and help Islamic customs instruments and tax and surcharges and the implications of this deduction.

For its part indicated mp Magda Tamimi table review funds Iraq since two thousand and three which has burst and frauds and thefts and contradiction to the Finance Committee in numbers through books by stakeholders, requiring the Central Bank to provide the Finance Committee representative data for the (DFI) and clarification about the sovereign fund project boast of foreign development funds and protection of Iraq abroad.

For his part, justified the Central Bank Governor, responding to inquiries from members of the Committee not to project delete zeros because it doesn't decrease the paper size likely benefit larger groups to reduce the export volume in advance explaining about the deposit insurance system in favour of the proposal to the Finance Committee by selecting alasteradt from the Ministry of trade under the import of each platform and the need for Iraq to this article ".

Also put forward solutions to the Rafidain Bank and Rasheed to reconsider the structure of these two banks and transferred to the private sector to improve and advance the parliamentary Finance Committee concerns about takhrhma affecting the private banking sector, stressing the need for the integration of private banks and banking activity in addition to the problems with the banking and the facilities offered by the Bank for Islamic banks to keep pace with the global trend in this area, supporting the weak banks and certification, in addition to the Warka Bank for adequate guarantees for the provision of liquidity, as banks that have experience and advanced In management and funding.