Central Bank announces the rise of foreign exchange reserves to 62 billion dollars

by **claud39** on Tue Apr 16, 2019 6:33 am

Central Bank announces the rise of foreign exchange reserves to 62 billion dollars

Economy News _ Baghdad

The Central Bank of Payments (CBE) Director-General Doha Abdel-Karim announced on Tuesday that foreign exchange reserves rose from US $ 40 billion to US $ 62 billion, while confirming the bank's success in controlling inflation.

"The central bank has managed to control the level of inflation, maintain prices, maintain the purchasing power of the national currency, adjust the exchange rate and close the gap between the official price and the market price," Abdul Karim said in an interview with the official newspaper Al-Sabah.

"Foreign currency reserves have increased from US $ 40 billion to US $ 62 billion and diversification of the currency basket to support the balance of payments and to cope with economic crises," she said.

It also coordinated with the Ministry of Finance in the management of public debt to support the budget and funding the deficit during the financial crisis experienced by Iraq because of low oil prices, the issuance of national bonds in the international financial market worth $ 2 billion, as well as the provision of new products to invest liquidity of commercial and investment banks And support their profitability. "

http://economy-news.net/content.php?id=16286

by **claud39** on Tue Apr 16, 2019 7:39 am

[size=36][rtl]Central control of the level of inflation and supports electronic collection[/rtl][/size]

Monday, 15 April 2019

Central Bank announces the rise of foreign exchange reserves to 62 billion dollars Alsabaah-10358

Central Bank announces the rise of foreign exchange reserves to 62 billion dollars Alsabaah-10358

Baghdad / Hussein Thugb

"The Central Bank has succeeded in controlling the level of inflation, maintaining prices, maintaining the purchasing power of the national currency, controlling the exchange rate and closing the gap,
Between the official price and the market price.

"Foreign exchange reserves rose from US $ 40 billion to US $ 62 billion and diversification of the currency basket to support balance of payments and crisis response

Economic development.

The coordination with the Ministry of Finance in the management of public debt to support the budget and funding the deficit during the financial crisis experienced by Iraq because of the drop in oil prices, the issuance of national bonds in the international financial market worth $ 2 billion, as well as the provision of new products to invest liquidity of commercial banks and investment and support

Profitability ".

Issuance of bonds

She pointed out that "the last period saw the issuance of bonds for the receivables of contractors after being audited by the Ministry of Planning and the Federal Financial Control Bureau, as well as the issuance of bonds to farmers on behalf of the Ministry of Finance and this move reflects a shift in a broader vision for the management of government public debt by the financial authority and monetary authority "He said.

Financial Inclusion

"We have supported the electronic collection of government fees, the facilitation of payments to citizens, the signing of a memorandum of understanding with Visa International, MasterCard International and Yunin-B International International to support the strategy of financial inclusion and the provision of electronic payment cards to citizens to urge them to work with the unified international bank account, Through bank accounts internally

And externally. "

Electronic payment

"The standardization of the sukuk security standards to increase confidence in exchange and encourage traders to deal with electronic payments instead of cash, electronic payment companies in order to support electronic operations and the issuance of license cards payment to banks, as well as linking banks and sites of the Central Bank of Iraq with data centers bank by cable To enhance the infrastructure of the banking sector and to increase the security of information and networks on the speed of data transmission Sizes

Big ".

Financial operations

On the developments witnessed by the Central in the payments sector confirmed "the establishment of the National Bank to settle payments between banks and increase electronic financial operations between banks, companies and citizens, support electronic collections of government departments and facilitate

Ways of payment to citizens ".

Memorandum of Understanding

"We have signed a memorandum of understanding with Visa International, MasterCard International and Yunin-B International International to support the strategy of financial inclusion and the provision of electronic payment cards to citizens. , As well as linking the banks and the Central Bank of Iraq with the bank data centers by optical cable Aziz infrastructure for the banking sector, increasing the information and network security, as well as high-volume data transfer speed. "

Localization of salaries

The launch of the localization of salaries for all public sector employees through the transfer of salaries to employees' bank accounts, as well as the easy receipt and withdrawal of salaries through the available payment channels, bank branches, ATMs, Points of sale, and enjoy the many advantages of bank accounts. "

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