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Tag: iraqi banks

50K and 100K New Iraqi Bank Notes Launching Date Announced

50K and 100K New Iraqi Bank Notes Launching Date Announced

On Thursday, a member of the Iraqi Parliamentary Finance Committee Najiba Najib has announced that the 50 thousand dinars category bank notes will be available in the market in this current month. She further said in a statement that the Iraqi Central Bank would also launch the new category of 50 thousand dinars coin in the market in this current month and it can be delayed, but it will be in the market before mid of August 2015 after completing…

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CBI Cancelled its 8% Tax and Customs on Buying U.S Dollars: Central Bank of Iraq

CBI Cancelled its 8% Tax and Customs on Buying U.S Dollars: Central Bank of Iraq

On Saturday, the Iraqi Central Bank has announced that the monetary policy of the CBI would not be able to maintain and stabilize the exchange rate of the U.S dollar against the Iraqi dinar. At the other hand, government of Iraq stressed to control the border and manage the track of money that moves out from the country and to manage the combine moves against financial and economic crimes. The Board member of Iraqi Central Bank, Majid further said in…

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Today CBI Sold $ 258 million in Daily Auction of Foreign Currencies

Today CBI Sold $ 258 million in Daily Auction of Foreign Currencies

On Tuesday; the Sales of Iraqi Central Bank in the daily auction for foreign currencies have been reached at 258 million U.S dollars, which is against the financial budget law 2015. The 2015 budget law restricted the Iraqi Central Bank not to exceed the maximum limit of 75 million U.S dollar in its daily auction. The Central Bank of Iraq is trying to deal with flood of the U.S dollars which reached more than 1400 Iraqi dinars per U.S dollars….

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Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

Iraqi Cash Reserves Approaching at $ 80 Billion: Finance Committee

The Iraqi Finance Committee refused that Iraqi government used the hard cash reserves to manage the budget deficit problems. It is also said that total cash reserves are 80 billion U.S dollars, in which 69 billion U.S dollars cash reserves and 10 trillion Iraqi dinars. The Finance Committee further said that we are surprised to see the sale of hard cash which is exceeding the predefined limit in the Iraqi budget 2015. It is said that maximum limit for daily…

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Inflation Rate is Almost not Present in Iraq: Iraqi Banks Association

Inflation Rate is Almost not Present in Iraq: Iraqi Banks Association

On Saturday, the Iraqi banks association issued a statement that the estimated increase of prices in Iraq is almost not present. It is also indicated in the statement that some unexplained reasons caused fear and tension in the Iraqi domestic market. The head of the Association and the Governor of the Iraqi Central Bank issued a joint statement that the inflation rate in Iraq is amounting at 1.7 percent and they stressed that inflation rate is almost not present in…

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CBI Not to Sell Hard Cash to Private Banks: Al Shammari

CBI Not to Sell Hard Cash to Private Banks: Al Shammari

On Wednesday, a member of the National Coalition in the House of Representative MP Kazem Al Shammari issued a statement that Iraqi Central Bank should stop the hard currency sale to private banks and to turn them into governmental banks. He also warned about the presence of Mafias in picking the U.S dollars from the import bills of fake goods, which caused a burning impact on the market and resulted as the downfall in the Iraqi dinar exchange rate in…

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Iraqi Delegation to Meet With International Banks in Turkey

Iraqi Delegation to Meet With International Banks in Turkey

The Iraqi Finance Ministry has announced about the meeting of the Iraqi Government and its delegation in the Turkish city Istambul regarding finalizing the process of issuance of dominant government bonds in the financial market worldwide. A press statement issued by the Iraqi Finance Ministry, it is said that some key persons included in this delegation are Finance Minister Hoshyar Zebari, Planning Minister Salman Jumaili, Governor of the Iraqi Central Bank and Iraqi Oil Minister Adel Abdul Mahdi. The Economic…

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CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

CBI Approved for Adding 14 Excluded Banks for Foreign Currency Auction

On Thursday, the Iraqi Banks Association issued a press statement that the Iraqi Central Bank has approved to bring in all 14 banks which were left out in cold for currency auction. The statement also indicated that the Central Bank of Iraq has implemented most strict terms and conditions. The Executive Director of the Association Dr. Tariq issued a press statement that the Central Bank of Iraq has taken a decision about few days ago and stopped the 14 Iraqi…

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