***** Accepting deposits in BIS achieve the benefit of Iraq
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***** Accepting deposits in BIS achieve the benefit of Iraq
Admin Wed Dec 25, 2013 4:47 pm
12/26/2013 0:00
One indicator of his return to the focus of attention of the world
BAGHDAD - Mustafa al-Hashemi
The economist said the appearance of Dr. Mohammed Saleh, said that the Bank of International Settlements, accept deposits from Iraq will benefit the country through capital investment projects, financial investments .
Was the Bank for International Settlements (BIS) which is an acronym for the Bank for International Settlements)) may feel the CBI Sunday past , his willingness to accept deposits Iraq for Fiscal Year 2014 .
Saleh added in a statement to the (morning ) that this measure would provide service to the country's economy through the BIS financial investments ongoing interest rate or interest-free and by currency , whether in euro or the dollar or other currencies .
Reserves Investment
He explained that it is under a formal contract signed with the Iraqi government .
Indicating that the BIS is planning to invest an annual cash reserves deposited with him by central banks , pointing out that its membership includes 60 national central banks including the Central Bank of Iraq .
And the benefit is that the BIS Bank global central banks and supervisory represents the global banking system , all banks in terms of commitment to the decisions of the Basel application which determines the efficiency of the banking systems in the world.
He pointed out that in accordance with the Charter of the United Nations , can hold shares in the bank by individuals and non-governmental entities .
BIS and DFI
He stressed that the bank differs from the Fund for the Protection of Iraqi funds DFI , which was established under the UN resolution as the government revenues from oil revenues are placed in this fund after 2003, which belong to the budget , while the cash reserve at the central bank comes to them after the government is turning to currency local ( Dinar ) , explaining that the Iraqi funds that were frozen in the nineties of the last century were in the Bank for International Settlements did not subject to any legal prosecution being protected from prosecution .
Financial Cooperation
The economic expert said BIS contributes to strengthening financial cooperation and financial world as well as he did not accountable to any government , based in Basel, Switzerland , adding that the implementation of this measure will yield better returns for funds Iraq with keeping them in safe places where the BIS invests in part of the investment portfolio at the central bank , which is part of the cover of the currency ( cash reserve ) and the risks are few and great benefits .
A positive step
Promised in favor of the move as positive , especially after the lifting of international sanctions and the withdrawal of Iraq from Chapter VII of the Charter of the United Nations, indicating that the country has returned to focus the world's attention again and he became represents investment environment of financial activity strong because of the wealth and the huge potential possessed by that is natural and human resources .
He said economic expert, said the amount of money frozen in the Bank for International Settlements during the former regime amounted to more than half a billion dollars , indicating that it was protected from the claims of global settled the debt owed by Iraq .
Development banking
He called on Saleh to exploit the BIS call for the development of comprehensive banking in the government and private banks as well as the commitment of the Basel standards and the adoption of corporate governance and banking systems, work to promote the reality of modern banking in the country and to seek credit rating .
Facilitate compensation
The Bank for International Settlements, BIS was established in May 17, 1930 under an intergovernmental agreement by Germany , Belgium , France , Great Britain and Northern Ireland , Italy , Japan , the United States and Switzerland to facilitate reparations imposed on Germany by the Treaty of Versailles after the First World War . the Charter has been drafted for the bank in the international bankers conference in the German city of Baden-Baden in November and adopted its charter in the Hague Conference II in January 20, 1930 .
http://www.alsabaah.iq/ArticleShow.aspx?ID=60739
One indicator of his return to the focus of attention of the world
BAGHDAD - Mustafa al-Hashemi
The economist said the appearance of Dr. Mohammed Saleh, said that the Bank of International Settlements, accept deposits from Iraq will benefit the country through capital investment projects, financial investments .
Was the Bank for International Settlements (BIS) which is an acronym for the Bank for International Settlements)) may feel the CBI Sunday past , his willingness to accept deposits Iraq for Fiscal Year 2014 .
Saleh added in a statement to the (morning ) that this measure would provide service to the country's economy through the BIS financial investments ongoing interest rate or interest-free and by currency , whether in euro or the dollar or other currencies .
Reserves Investment
He explained that it is under a formal contract signed with the Iraqi government .
Indicating that the BIS is planning to invest an annual cash reserves deposited with him by central banks , pointing out that its membership includes 60 national central banks including the Central Bank of Iraq .
And the benefit is that the BIS Bank global central banks and supervisory represents the global banking system , all banks in terms of commitment to the decisions of the Basel application which determines the efficiency of the banking systems in the world.
He pointed out that in accordance with the Charter of the United Nations , can hold shares in the bank by individuals and non-governmental entities .
BIS and DFI
He stressed that the bank differs from the Fund for the Protection of Iraqi funds DFI , which was established under the UN resolution as the government revenues from oil revenues are placed in this fund after 2003, which belong to the budget , while the cash reserve at the central bank comes to them after the government is turning to currency local ( Dinar ) , explaining that the Iraqi funds that were frozen in the nineties of the last century were in the Bank for International Settlements did not subject to any legal prosecution being protected from prosecution .
Financial Cooperation
The economic expert said BIS contributes to strengthening financial cooperation and financial world as well as he did not accountable to any government , based in Basel, Switzerland , adding that the implementation of this measure will yield better returns for funds Iraq with keeping them in safe places where the BIS invests in part of the investment portfolio at the central bank , which is part of the cover of the currency ( cash reserve ) and the risks are few and great benefits .
A positive step
Promised in favor of the move as positive , especially after the lifting of international sanctions and the withdrawal of Iraq from Chapter VII of the Charter of the United Nations, indicating that the country has returned to focus the world's attention again and he became represents investment environment of financial activity strong because of the wealth and the huge potential possessed by that is natural and human resources .
He said economic expert, said the amount of money frozen in the Bank for International Settlements during the former regime amounted to more than half a billion dollars , indicating that it was protected from the claims of global settled the debt owed by Iraq .
Development banking
He called on Saleh to exploit the BIS call for the development of comprehensive banking in the government and private banks as well as the commitment of the Basel standards and the adoption of corporate governance and banking systems, work to promote the reality of modern banking in the country and to seek credit rating .
Facilitate compensation
The Bank for International Settlements, BIS was established in May 17, 1930 under an intergovernmental agreement by Germany , Belgium , France , Great Britain and Northern Ireland , Italy , Japan , the United States and Switzerland to facilitate reparations imposed on Germany by the Treaty of Versailles after the First World War . the Charter has been drafted for the bank in the international bankers conference in the German city of Baden-Baden in November and adopted its charter in the Hague Conference II in January 20, 1930 .
http://www.alsabaah.iq/ArticleShow.aspx?ID=60739
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