Parliamentary Finance: Central bank selling of gold bullion part of the investment and achieve profit

History of edits:: 2015/9/7 18:03

[Baghdad-where]
A member of the parliamentary finance committee, said Ahmed al-Jubouri, said on Monday that the central bank to sell gold bullion is part of the investment and achieve profit.

He said al-Jubouri told all of Iraq [where] that "gold bullion is considered part of the sale of an investment, not an encroachment on state reserves to be utilized to provide liquidity," noting that "the rise of gold or coming off linked to oil prices, the landed price of oil falling gold prices and vice versa." .

He added that "the price of gold at the present time high and sell it leads to a profit and provide liquidity," explaining that "the sale of gold does not threaten the country's economy or the dollar."

Jubouri said that "the Iraqi currency needs $ 45 billion to cover the world either above this amount can be invested or otherwise dispose of it which is not an invitation to spend it, because of the duty increase the country's reserves of currency".

The central bank had said last Saturday, that the continued sale of gold bullion to the citizens will support the operations of financial liquidity.

The governor of the Central Bank on the Keywords in a press statement, said that "the Central Bank and for financial liquidity support in the Iraqi state and to encourage citizen of the Optional savings to diversify its means and put forward different options for him, began by asking different alloy weights for the acquisition by citizens, taking into account the bank to the circumstances of the citizen living conditions.


http://www.alliraqnews.com/modules/news/article.php?storyid=14890

Economist: sale of central bank gold reserves does not affect him

History of edits:: 2015/9/7 18:37

Economist confirmed that the Iraqi Central Bank decision to launch gold bars for sale do not affect the reserves of gold.

Said Wadih Handal told all of Iraq [where], that "gold sales never affect the central bank reserves of gold because the quantities offered very little and do not affect the reserve."

He explained that "the purpose of the resolution is the development of citizens' savings by buying gold at the same time reduce the amount of money circulating in the market."

He pointed Handal, chairman of Association of private banks that "the Central Bank of Iraq has reserves of currency and gold in very large quantities, which is in a good position, in terms of foreign currency reserves up to $ 68 billion, the equivalent of twice the amount of Iraqi currency," he said.

The Central Bank of Iraq, announced last Saturday, asking Mbacherth alloy of gold for sale to the citizens "to support financial liquidity."

The governor of the bank on the Keywords in a press statement, that "the central bank, in order to support liquidity in the Iraqi state and to encourage citizen of the Optional savings to diversify its means and put forward different options began by asking him different alloy weights for the acquisition by the citizens."

He Keywords that "the sale of the citizens takes place across the Iraqi private banks after processing by the Central Bank in accordance with the contexts simple and mechanisms to enable any citizen of the purchase of those ingot easily," stressing that "the central bank took into account in the sell bullion to banks and the living conditions of citizens, as it did not put is a simple margin on the price of the alloy does not exceed the 1%, which represents a cost the administrative line with the Bank's policy. "

The central bank said during a statement issued about two months ago that the bank agreed with one of the world's largest coined bullion companies Stamping gold bullion of weights [5.10, 15.20, 25 and 50] g, caliber 24, and put up for sale through banks and through its center in Baghdad for Mozvin.

http://www.alliraqnews.com/modules/news/article.php?storyid=14894