Expert: Our gold and hard currency reserves are higher than the international standard

by **claud39** Tue Oct 29, 2019 7:26 pm

[size=36][rtl]Expert: Our gold and hard currency reserves are higher than the international standard[/rtl][/size]

Mardi 29 octobre 2019

Expert: Our gold and hard currency reserves are higher than the international standard 980-Alsabbaq

Baghdad / Suha Sheikhly

Gold is an international system and financial cover used as a basis for determining the value of paper currency, and through which to assess the currency of any country, as the countries that adopt this system, convert their currency to gold after relying on buying and selling, gold was selected for several considerations, the first of which is precious metal and stainless steel storage It is difficult to dissolve and is a pillar of crisis time.

Link to Sterling

The expert, the banking adviser and a member of the administrative body of the Association of Private Iraqi Banks Abdul Rahman al-Sheikhly in his interview with the "morning" says: "After July 14, 1958 the new government disengaged the Iraqi dinar from the pound sterling and the dinar has become almost existing and needs to strengthen its position."

“In all the countries of the world, the local currency must be covered with gold or hard currency that can be traded anytime, anywhere. The government then issued a decision to separate the Iraqi currency from English,” he said. Either in hard currencies or gold. ”

Bank Nout

At that time, Iraq tried to enter the world market through its balance of gold and hard currency. The paper, (Bank Note) is a secretariat arrived from the state to the citizen that he has the state as well as the amount.

He explained, “Therefore, this currency will not be valuable unless it has a reserve balance, and the former Iraqi citizen used (Travel Check) when traveling abroad to spend his currency with the money of that country before the monetary developments that have appeared in the world.

Entire".

Sheikhli said that "the Central Bank of Iraq is completely independent of the state and was able to refuse to lend to the state and this is what happened when the Governor of the Central Bank of Iraq Abdul Latif al-Shawaf refused to lend Prime Minister Abdul Karim Qasim amount of money, and the situation continued to the year 2014."

He stresses that "currency reserves created to deal in times of abnormal crises going through the economy, note that our economy is subject to the controls of the International Monetary Fund and the World Bank because we are members, especially after 2003 and the regime changed from totalitarian to a market economy," pointing out that "the government was forced to In 2014, during the war against the Islamic State terrorist gangs, borrowing from the monetary reserves in accordance with the standards of the IMF and the World Bank, and coincided with the decline in oil prices, so Iraq tried to compensate by resorting to the strategic reserve in the central bank of gold and hard currency to pay the government e The amount is closer

time".

"With great efforts, the central bank was able to recover the amounts, and the central bank now has reserves of foreign currencies and gold more than the standard required by the International Monetary Fund and the World Bank, which means that the Iraqi dinar has become a cover and is a difficult currency at present And anywhere from

The globe. ”

Sheikhli pointed out that "gold prices in Iraq are the same world prices, and subject to international controls," stressing that "there is a project adopted by the Central Bank, but the legal processes to prevent its implementation is to raise three zeros from
the currency".

Accessories and safe

Al-Sabah met with goldsmith Abu Ali, owner of a goldsmith shop since 1981 and said: “Many families buy gold not just for decorations but it is a saving for times of need.

And a safe. ”

He pointed out that the price of a single weight of Gulf gold caliber 21 grain is 260 thousand dinars, a kind of desirable much, while the price of weight of 18 carat 215 thousand

Dinar".

It is noteworthy that the gold market in Baghdad is located in the street of the river, along with the cities of Karbala, Najaf, Ramadi and Fallujah, while the seasons of sale will be on holidays and joyous occasions and less in the months of Muharram and zero, as the season is scarce

Selling.

http://alsabaah.iq/15648/%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D8%AD%D8%AA%D9%8A%D8%A7%D8%B7%D9%8A-%D8%A7%D9%84%D8%B0%D9%87%D8%A8-%D9%88%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A7%D8%AA-%D8%A7%D9%84%D8%B5%D8%B9%D8%A8%D8%A9-%D9%84%D8%AF%D9%8A%D9%86%D8%A7-%D8%A3%D8%B9%D9%84%D9%89-%D9%85%D9%86-%D8%A7%D9%84%D9%85%D8%B9%D9%8A%D8%A7%D8%B1-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A

Expert: Our gold and hard currency reserves are higher than the international standard

Expert: Our gold and hard currency reserves are higher than the international standard

Sheikhli pointed out that "gold prices in Iraq are the same world prices, and subject to international controls," stressing that "there is a project adopted by the Central Bank, but the legal processes to prevent its implementation is to raise three zeros from the currency".

Sheikhli pointed out that "gold prices in Iraq are the same world prices, and subject to international controls," stressing that "there is a project adopted by the Central Bank, but the legal processes to prevent its implementation is to raise three zeros from
the currency".