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View Full Version : CBI is accepting new deposits BIS "gain" and calls for comprehensive development



Hue Mi
01-06-2014, 10:12 PM
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Iraqi Central Bank Governor Abdel Basset Turki (mjm)

The Central Bank is accepting new deposits BIS "gain" and calls for the development of comprehensive (http://www.almadapress.com/ar/news/23908/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B9%D8%AF-%D9%82%D8%A8%D9%88%D9%84-BIS-%D8%A7%D9%8A%D8%AF%D8%A7%D8%B9%D8%A7%D8%AA-)

Author: ASJ, BS
Editor: BK, BS
2014-01-06 13: 32
Hits: 964
Range/Baghdad

The Iraqi Central Bank, on Monday, the Bank for international settlements announced acceptance of the additional deposit "gain" for the country, and called for investment to achieve comprehensive development in the Government and private banks, and adherence to international standards in order to obtain a credit rating.

The Bank for International Settlements (BIS), the Bank for International Settlements, based in Basel, Switzerland, may feel the Iraqi Central Bank, (29 December 2013 last), his willingness to accept Iraq's financial filings in 2014.

He said the Central Bank Governor, Abdul Basit Turki, told the (term), "the Bank for international settlements, the World Bank of central banks, and international banking regulatory regime for banks, in terms of commitment to Basel, which determine efficient banking systems, access to shares in the Bank, which comprises 60 central banks including the Central Bank of Iraq, by individuals and non-governmental entities, in accordance with the Charter of the United Nations".

He said, "the BIS annual plans for the investment of cash reserves held by central banks of the world", stating that "the World Bank differs from the Fund for the protection of Iraqi funds DFI, established under the UN resolution, to deposit the proceeds of Iraqi oil after 2003

The Governor of the Central Bank of Iraq, "the Central Bank's currency reserves comes from those deposits after its Government into local currency (the dinar), pointing out that" Iraqi funds frozen in the 1990s, was in the Bank for international settlements and not subject to any legal prosecution being protected."

He continued, "the BIS to strengthen financial cooperation and global funding as well as it is not accountable to any Government", he says that "the implementation of this measure will yield better returns to Iraq with funds maintained in safe places, especially the Bank of international settlements is invested in a part of the investment portfolio, the Central Bank, which is part of the cover (cash reserve) and a few risks and significant benefits."

He called the Iraqi Central Bank Governor Agency, to "invest call BIS for all-round development in the Government and private banks to comply with the Basel standards and adoption of governance and modern systems to improve the country's banking and seeking credit rating."

The credit rating credit rating, a credit rating or worthiness in the economy, which is estimated to experience some of the specialized agencies, to assess the validity and eligibility of a person for loans, or trustworthiness of a company, or even the State for loans, and are in that study the financial possibilities of the company or the person or the State, and the extent of its credit and loan repayment, and take into account records for the person or company or the State, and its conduct in the past for its debt.

And the Bank for international settlements BIS established in (17 May 1930), by intergovernmental agreement by Germany, Belgium, France, Great Britain and Northern Ireland, Italy, Japan, the United States and Switzerland, to facilitate compensation imposed on Germany by the Treaty of Versailles after the first world war.

And the Bank's Charter was drafted at a Conference of international bankers in the German city of Baden-Baden in November and adopted its Charter at the second Hague Conference on 20 January 1930.