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  1. #1
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    Lightbulb Central Bank: monthly intentionally transfers for investment designed to bridge a bud

    Central Bank: monthly intentionally transfers for investment designed to bridge a budget deficit
    18 July 2016 21:47


    The Iraqi Central Bank, said Monday that remittances by the Bank every month for the Treasury to finance the budget deficit in 2016, noting that Treasury remittances purchased by public retirement service and care of minors and two banks worth 400 billion dinars come to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity.

    He said the Central Bank's financial operations manager Mahmoud Dagher in interview for alsumaria news, that "such remittances were part of a program to withdraw liquidity and supplement the public Treasury on a monthly basis," pointing out that

    "this program with 400 billion dinars roof comes to withdraw excess liquidity from banks or entities that have the ability to relinquish liquidity and get back from this investment."


    Dager said, "remittances is a program through the monthly Central Bank system for the Ministry of finance to finance deficits in the State budget for 2016."

    The Central Bank had announced on Monday (18 July 2016), to care for minors and public retirement and two banks bought Treasury remittances worth 400 billion dinars, pointing out that the number of participants in the auction four participants.

  2. #2
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    This looks great! Straight from the the CBI 2016-2020 Strategic plan just issued July 5th.

    From the Stable and steady exchange rate block of the Strat plan...

    Restructure the non banking financial institution particularly those in money transfer and exch
    ange through:
    Withdraw excessive cash in the market and regulate sufficient amount of banknotes.
    Diversify investment tools qualitatively and timely and introduce
    convertible new currencies.

    now on the CBIs main page is a list of companies "cut off" from the sale and purchase of foreign currencies.
    This would seem to fit the "restructure of non banking financial institutions.

    Hope this pace of 2016-2020 Strategic plan execution keeps up.
    $


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