Central Bank decides "SEC gold bullion" to sell investors and segments of society

Admin Thu Jan 23, 2014 7:25 am

23/01/2014 14:18

Long-Presse / Baghdad
Decided to CBI, on Thursday, "coined a variety of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that "this action represents Tools monetary policy of the Bank."

According to a statement to the CBI received (range Press) a copy of it, he was "for the purpose of diversification means savings to the public and to provide large quantities of gold from Mnashye sober sold to dealers in gold, investors and society Bdinaralaraca decided the bank's board in consultation with the Committee on Economic Affairs seeks a variety of gold bullion ranging weights between (5 g and 1000 g). "

The statement added that "the Bank began contracting procedures for gold bullion imported and then sold through the banking system," noting that "this action represents a monetary policy tools of the central bank."

In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

The Iraqi Central Bank revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, the reserve is expected to increase over the coming months.

The International Monetary Fund, it was announced, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank's hard currency to $ 70 billion, attributing the increase to the "revenue oil unexpected. "

Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government.

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