Iraqi Dinar 123 News:– On Friday, an authentic source from the Iraqi Central Bank informed that the Central Bank of Iraq has planned to launch a large amount of gold bars as investment purpose to Iraqi citizens through private banks. He stressed that this decision has been taken after a heavy demand by Iraqi public as they bought gold bars earlier when bank sold smaller weights gold bars. The source also added in an interview that Central Bank of Iraq previously introduced gold bars at the amount between ‘5-50’ and 24 grams standard to private banks in order to sell those gold bars to Iraqi citizens.
The unnamed source also said that ingredients which were introduced earlier got popularity among the Iraqi citizens and made a handsome sale compared to the offered quantities. Point to be noted that the Iraqi Central Bank has now decided to put forward a high amount of ingredients. It is also said that suggested weight that will be forwarded to the private banks are 100, 250, 500 and 1000 grams with 24 standards. The methods to put forward these gold bars would be similar as CBI adopted methods previously for sale and these ingredients will be sold to Iraqi private banks in order to sell these gold bars to Iraqi citizens by implementing simple methods in order to provide an ease to Iraqi citizens. The margin price of these ingredients should not be exceeded from 1 percent, it is also considered as the CBI’s policy of cost of administrative line. The Iraqi Central Bank also issued a statement two months ago that CBI has signed an agreement with one of the biggest SEC companies for gold bars stamping for the weight of 5, 10, 15, 20, 25 and 50 grams of 24 standards and will be forwarded to private banks to sell them through their control centers in Baghdad for employees.