The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

by **claud39** Mon Nov 02, 2020 8:41 am

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

11/02/2020

Economy News _ Baghdad

The Central Bank of Iraq announced, on Monday, the opening of an account with the "Euroclear" Foundation to develop the performance of foreign reserves, indicating that it is the most important institution for keeping securities.

In a statement received by Al-Iqtisad News, he said that after unremitting efforts by his administration in developing the management of foreign reserves, he was able to open an account with EuroClear, noting that it is "the most important custodian institution that provides securities custody services, as well as services." Others, including the ease of conducting investment operations without the need to conclude agreements with the source of the securities, the low costs of maintaining securities and the ease of following them up.

The bank indicated that soon, the process was carried out by central banks and correspondent banks, which impose an additional commission on keeping these papers, as well as the limited investment due to the multiplicity and complexity of procedures in the presence of the mediator.

He added that this step is important in the work of the Central Bank of Iraq, as it simulates international practices in the process of investing foreign reserves, and is an important achievement that this bank adds to its set of achievements in managing reserves and international transactions.

https://economy-news.net/content.php?id=22503

by **claud39** Mon Nov 02, 2020 9:18 am

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

November 02, 2020

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves News-160430096476902

With unremitting efforts by the administration of the Central Bank of Iraq in developing the management of foreign reserves, this bank opened an account with (EuroClear Foundation), which is the most important custodian institution that provides securities custody services as well as other services, including the ease of conducting investment operations without the need for a contract Agreements with issuer of securities, low cost of custody and ease of tracking.

This bank indicates that soon, the process was carried out by central banks and correspondent banks, which impose an additional commission on keeping these papers, as well as the limited investment due to the multiplicity of procedures and their complexity in the presence of the intermediary.

This step is important in the work of the Central Bank of Iraq, as it simulates international practices in the process of investing foreign reserves, and is an important achievement that this bank adds to its set of achievements in managing reserves and international transactions.

The Central Bank of Iraq, the
second of November 2020

https://cbi.iq/news/view/1593

by **GirlBye** Mon Nov 02, 2020 9:45 am

claud39 wrote:The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

11/02/2020

Economy News _ Baghdad

The Central Bank of Iraq announced, on Monday, the opening of an account with the "Euroclear" Foundation to develop the performance of foreign reserves, indicating that it is the most important institution for keeping securities.
In a statement received by Al-Iqtisad News, he said that after unremitting efforts by his administration in developing the management of foreign reserves, he was able to open an account with EuroClear, noting that it is "the most important custodian institution that provides securities custody services, as well as services." Others, including the ease of conducting investment operations without the need to conclude agreements with the source of the securities, the low costs of maintaining securities and the ease of following them up.
The bank indicated that soon, the process was carried out by central banks and correspondent banks, which impose an additional commission on keeping these papers, as well as the limited investment due to the multiplicity and complexity of procedures in the presence of the mediator.
He added that this step is important in the work of the Central Bank of Iraq, as it simulates international practices in the process of investing foreign reserves, and is an important achievement that this bank adds to its set of achievements in managing reserves and international transactions.

https://economy-news.net/content.php?id=22503

Love the fact they are starting to implement some oversight.

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

The Central Bank opens an account with Euroclear to develop the performance of foreign reserves

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