The Central Bank of Iraq cancels leave for an international company to sell currencie
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Thread: The Central Bank of Iraq cancels leave for an international company to sell currencie

  1. #1

    The Central Bank of Iraq cancels leave for an international company to sell currencie

    The Central Bank of Iraq cancels leave for an international company to sell currencies because "criminal" against one of the owners

    Editor: HH, NK
    2013/06/11 13: 35

    The Iraqi Central Bank, announced Tuesday the cancellation of leave for an international company to buy and sell foreign exchange, attributed the cause to a "criminal" for one of the owners, with the Commerce Ministry called "take necessary action against the company.

    The Agency said the Central Bank in a statement, Abdul Abbas Khalaf received (range), a copy of it, that "the Governing Council of the ECB decided at the 1499th meeting, held on the 15 of may last, the Cancel leave Contoso international mediation the buying and selling of foreign currencies," the Bloc's reason to "a criminal against one shareholder is maytham Moses."

    He called behind the corporate registration Chamber of the Ministry of Commerce to "take cram as much your circle is concerned with providing us with a copy of the books of the company meeting minutes and authenticated by you", requiring "verify information provided by banks and companies about the absence of a criminal being the shareholders".

    The CBI had earlier announced, the abolition of non-banking companies registered with regardless of their leave from the Ministry of Commerce, the banking companies registered and approved before 2003 were 300 companies, with the companies over thousands and are a mixture of companies operating in accordance with the terms and regulations of the Bank and got leave from the Ministry of Commerce while other companies without obtaining any authorization.

    The Central Bank announced the beginning of the year 2013, closed 190 offices in Baghdad and other provinces for violating the legal requirements imposed by the Bank.

    The truth in Iraq revealed the fund development matches, 8 April 2013, the Central Bank sold over the past six years the process of auctions around 207 billion dollars, equivalent to 56 percent of Iraq's oil revenue in those years, and stressed that such sales were more times than the domestic market, it was revealed that more than half of those sales went to specific banks poured their purchases from the Bank in the Gulf and Jordan., politicians and lawmakers accused the economists of the CBI over The past months burning "an average four billion dollars a month in hard currency auction for ten banks mostly Gulf capital, buy a day most posed by Central Bank currency and obscene profit up to 6% to control Iraqi economy."

    The authority accused the North Bank for finance and investment, on the 7th of April 2013, the CBI not to meet the needs of the Iraqi market of foreign currency over the past five months and the private banks, stressed that Iraq needed to pump nearly $ 300 million on the market daily needs while currency currency Central Bank criticized the remarks as offensive and promised "stemming from ignorance and lack of knowledge of monetary policy".

    The Iraqi Cabinet decided on (16 October 2012), head of the Office of financial supervision Abdel Basset Turki as the Governor of the Central Bank agency rather than the previous Bank Governor Sinan Al-Shabibi on the background of the charges of financial and administrative corruption in World Bank especially in the auction, but that nothing has changed on the work of the Bank and auction currency while the dinar has witnessed a big drop against the greenback as it jumped out of 1170 dinars per dollar in fall 2012 to 1,270 dinars to the dollar In April 2013.

    The IMF said in a report released in (21/3/2013), following consultations held in Oman between a delegation from the Fund and an Iraqi delegation led by ware planning to El shukrijumah, informed (range) "an improvement in the financial sector", but stressed that it still needs greater efforts by the Central Bank on monetary policy tools revision and strengthening of banking supervision, and to accelerate the restructuring of the banking system. "

    The IMF called on the Central Bank to "gradual liberalization measures introduced foreign exchange through auctions held by the Bank so that repeated disturbances suffered by last year's financial market."

    The Fund stressed that establishing a national banking system requires abandoning the current form, which is dominated by the weak State-owned banks that enjoy preferential treatment to distinguish it from private banks ", calling on Iraq to strengthen its public finances to ensure efficiency and transparency in the use of oil revenues.شر

  2. #2
    Kuwaiti Prime Minister in Baghdad tomorrow

    Khandan - Soran Karim

    Scheduled to arrive Prime Minister of Kuwait to Baghdad on Wednesday, on an unannounced visit, meeting with Prime Minister Nuri al-Maliki to discuss the outstanding issues between the two countries.

    An informed source said in a statement to "Khandan", said Prime Minister Sheikh Jaber Mubarak Al-Hamad Al-Sabah will visit Baghdad tomorrow and will meet with Iraqi Prime Minister Nuri al-Maliki to discuss the outstanding issues and bilateral relations between the two countries.

    According to the source, the Kuwaiti Prime Minister will arrive in Baghdad at ten o'clock in the morning at the head of a government delegation, where he is scheduled to be greeted by Prime Minister Nuri al-Maliki and a number of ministers and Iraqi officials.

    "Al-Khandan", sources said the Kuwaiti delegation's visit was scheduled today, but it was postponed until tomorrow Wednesday.

    The source pointed out that the agenda of the visit of Prime Minister of Kuwait has not yet announced, but it is scheduled to be discussed at the outstanding issues and that has been the formation of a joint committee Boukosa.

  3. #3

    Kuwaiti Prime Minister to visit Iraq tomorrow to sign a number of agreements

    Euphrates channel reported that the Kuwaiti Prime Minister Jaber Mubarak Al-Hamad Al-Sabah will visit Baghdad on Wednesday to sign a number of agreements between the two countries.

    A diplomatic source said that the channel Kuwaiti delegation visited Baghdad today to prepare for the visit of Prime Minister of Kuwait tomorrow

    He added that the Kuwaiti prime minister, who will visit Baghdad at the head of the delegation of high-level ministerial and will sign a number of agreements between the two countries.

    The Hoshyar Zebari, the Iraqi foreign minister visited Kuwait last May 28 at the head of a high-level delegation to discuss bilateral files between the two countries, and the latest developments in the Arab and regional arenas.

    The State of Kuwait and the Republic of Iraq on the memoranda of understanding on the arrangements for the maintenance of the physical process of the border and finance the construction of a residential complex in the area of Umm Qasr {}.

    The Iraqi Foreign Minister Hoshyar Zebari signed late last month with Martin Kobler Special Representative of the Secretary-General of the United Nations in Iraq, the Convention on the delivery of the amount of damages assessed by the Security Council to compensate Iraqi farmers, as part of the process of maintaining marks the border between Iraq and Kuwait.

    The Foreign Ministry said that "the minister, signed the agreement to hand over the amount of damages assessed by the Security Council in its resolution No. {899 in 1994}, to compensate Iraqi farmers, who have been affected farms result of the demarcation of the border between Iraq and Kuwait, during the period 1991-1994.

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