This piece has 5 or more different articles into 1 !!!

Central: a proposed sale of gold coins meant to soak up liquidity and curb inflation


09/01/2012 12:00 am

He stressed that a good reserve of banks, individuals and successful cash alternative

BAGHDAD - Haider al-Rubaie Flaih

Seeks CBI to strengthen financial wealth through expansion deal to include gold bullion as well as the dollar, while finished completing the feasibility study the technical and economic project credit card, which will enable customers to access their account anywhere, anytime, announced the central he is committed to accountability in front of the legislature According to the authorized limits of validity, stressing that every issue final decisions are enforceable by the Bank.

The deputy governor of the Central Bank of the appearance of Dr. Mohammed Saleh during a statement he made to the Center Brief for the Iraqi Media Network: The «Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation, a committed and implemented anything issued by the Council».

«We as an institution we have to prepare for accountability and defense mandated according to the possibilities and in accordance with the Constitution», indicating that «our answers will be authorized within the limits of our mandate.( Oh this is telling me they can not say much, what do you think?)

The interview comes in favor of following the decision of the fact-finding committee formed by the House of Representatives headed by First Deputy President of the Council Qusay al-Suhail and the membership committee chairmen of Finance and Economy and Chairman of the Board of Supreme Audit, which demanded to host central bank officials, including governor, Sinan al-Shabibi.

He was a member of the Finance Committee parliamentary Haitham al-Jubouri threatened to resort to collecting signatures to interrogate Iraqi Central Bank Governor Sinan al-Shabibi The unmet Presidency of the Council of Representatives asked the formation of an investigative committee on measures central bank followed in his dealings, as revealed from its inception Collect 50 signatures to demand the formation of an investigative committee dealings Bank Central.

And on the obligations of interrogation between Saleh during his speech (morning) and having two said they stand behind the request the House of Representatives questioning based on the work of the central bank, pointing out that the first reason for information about the existence of corruption (individually) in some joints Bank, which is stated that most State departments suffer not only confined to the central, noting that the second reason for questioning the nature of the work of the Central Bank in general, and particularly currency auction.

Did not seem to favor surprise at the question of interrogation, which he said was normal and in accordance with the law, which indicated Article 103 Second to the possibility of questioning based on the bank by the legislative authorities to establish the functioning of the monetary policy, which directly supervised by the central bank.( he was not suprised, wonder why?)

And on the possibility of enhancing the work of the Central Bank, and broaden the base of absorbing liquidity undertaken by the currency auction at the moment in order to counter inflation and reduction, proposed for the possibility of absorbing liquidity through the sale of gold, saying that it was metal is able to constitute reserves good for banks and individuals, as well as Being a cash alternative desirable at all times and in various parts of the ground.

Saleh said that the central financial instruments Kmzadeh daily, and another kind could affect together in absorbing liquidity and reduce inflation rates in Iraq, something that could be played sell gold as a second come along selling the dollar, is that Saleh stressed the survival of the sale of gold by the Central as a proposal will be studied in the future, denying initiate so in the short term

Saleh had revealed earlier to center Bri Iraqi Media Network that the central seeks to build future plans aimed at moving from the adoption of the citizens on the dollar for the purposes of maintaining wealth to other alternatives if the coins or gold bonds worth dollar, Mohammed said that «there are plans and ideas futuristic seeks Central Bank to apply a transition from reliance on the dollar for the purposes of storage and retention of wealth to adopt other ways to save as gold coins or version dollar bond banks can sell to citizens.

Saleh announced the completion of the study the technical and economic feasibility of the project credit card, stressing that he is waiting for the completion of the evaluation of the U.S. Agency for International Development so they can be awarded the tender to specialized companies.

The deputy governor of the Central Bank's (Brief Center for the Iraqi Media Network): The «project of the National chunked it must on every bank that puts points withdraw deposit Eartat to facilitate the handling of cash.

He added that «this Mbdhul effort of the U.S. Agency for International Development, which funded part of the assistance provided to Iraq and the project is currently have.

He emphasized that this project «the establishment of infrastructure for the payments system and will go to an international company evaluate the bids. Said« This project needs to a company with an electronic system to manage multiple banks points in the country.

The credit card system combines points banks in the country to enable customers to access their account at any time and place.

This project is known also develop retail electronic payments system.


http://www.alsabaah.com/ArticleShow.aspx?ID=34060

Central Bank: We are committed to accountability before the legislative authority and according to our mandate
The time on Saturday, 01 September / September 2012 08:05 | Print | E-mail


Baghdad / Orr News

CBI said he is committed to accountability in front of the legislature (parliament) and in accordance with the authorized limits of validity, and the last issue of the decisions are enforceable by the Bank.

The deputy governor of the Bank the appearance of Mohammed "The Constitution committed the central bank accountable to the House of Representatives and there is no response by the bank without any hesitation is committed to implement anything issued by the Council."

"We as an institution we have to prepare for accountability and defense in accordance with the possibilities charged by the central bank and in accordance with the Constitution," noting that "our answers will be authorized within the limits of our mandate."

And decided to fact-finding committee formed by the Council under the chairmanship of First Deputy Chairman of the House of Representatives Qusay al-Suhail and the membership committee chairmen of Finance and Economy and Chairman of the Board of Supreme Audit and hosting its first meeting officials at the Central Bank, including governor Sinan al-Shabibi.

He was a member of the Finance Committee parliamentary Haitham al-Jubouri threatened to resort to collecting signatures to interrogate Iraqi Central Bank Governor Sinan al-Shabibi The unmet Presidency of the Council of Representatives asked the formation of an investigative committee on measures central bank followed in his dealings, as revealed yesterday inception Collect 50 signatures to demand the formation of an investigative committee transactions Central Bank

Jubouri had revealed earlier this month about the involvement of influential political figures (undisclosed) the phenomenon of smuggling (5-10) million dollars a day through an auction sale of currency, and stressed that the money part of it goes to support "terrorism."

And asked the CBI to investigate "immediately" to "allegations" the involvement of influential politicians phenomenon of money laundering, calling to talk about the involvement of politicians to "risk."

The main tasks of the Iraqi Central Bank to maintain price stability, and the implementation of monetary policy, including exchange rate policies, and management of reserves of foreign currency, and the issuance of currency management, as well as to regulate the banking sector.


http://www.uragency.net/2012-03-11-16-31-52/2012-03-11-16-33-57/8605-2012-09-01-08-05-09.html