Follow us! Follow us!

CBI confirms high sales of foreign currency continues

From Reputable News Sources

CBI confirms high sales of foreign currency continues

Unread postby Stillw8n » Tue Feb 14, 2012 10:22 am

CBI confirms high sales of foreign currency continues

The central bank said it did not reduce the sales of hard currency, but the imposition of measures to protect the country’s economy from deteriorating.

The deputy governor of Bank of the appearance of Mohammed, according to (Rn), bank sales fell after the imposition of new measures for transactions of $ 200 million to less than $ 4 million last Thursday, “noting that” sales on the rise and reached about 68 million dollars. “

Saleh added: “The analysis of the bank to refrain from buying the difficult process due to two reasons: first is the existence of a users tried to thwart the new bank procedures and controls, and the other reason is the existence of a culture of fear among Iraqis.”

He said “a lot of Iraqi traders have many transactions and have fear,” noting that “the Bank discovered that some traders do not have a bank account,” and expressed surprise at “the existence of traders do not have a bank account.”

And that “sowed some of the central bank cut its sales of foreign exchange thus leaving an impact in the market led to the rise of the dollar compared to local currency”, describing the rise of “temporary.”

And saw the price of the dollar compared to a rise in local currency during the past few days, which officials attributed to a local banking companies, the central bank to stop sales of hard currency.

At the same time the benefit of the country’s business dealings in Canada is very small and that there is
no role for the Canadian banks in the deposit of Iraqi funds.

Saleh said, according to (Rn) that “Iraq’s dealings with Canada is very weak and does not reach the stage of warning from the deposit of money in Canadian banks.”

He added that “the Canadian judiciary is not fair with Iraq did not interact with the process of political change that took place in Iraq.”

He noted that the central bank with the government has a plan focused on protecting the money from creditors who did not join the ghost to the Paris Club agreement.

This confirmed to the national investment that international companies do not object to the performance of local banks, saying it decided to open the door of investment to build 100 housing units in each of the provinces of Basra and Mosul.

The Economic Commission has called last week to provide banking facilities for foreign investment companies

The head of the Investment Authority, according to Sami al-Araji (Rn) that “the investment companies in Iraq does not have any problem in the work of banks.”

He added that “the investment will be part of a project one million housing units of investment projects in the provinces of Mosul and Basra.”

He pointed out that “the Investment Authority gives priority to the display housing projects and services in coordination and cooperation with all relevant ministries including the Ministry of Construction and Housing, Municipalities and Public Works and provincial councils.”

And watching the World Bank process development and investment in the country by a team of experts headed by the Economic Majid picture.

He called the World Bank, the government enabled the single window system and the formation of a committee of senior staff to facilitate the entry of foreign companies in order to promote investment in the country.

The Commission announced the economy and investment representative, earlier, support for the government directions aimed at an amendment to the Investment Law No. 13 in force for the year 2006, indicating that the problem of land acquisition by the investor is still the problem is most complex.

And Iraq admitted in 2006, Law No. 13 for investment to encourage foreign companies to enter the country and to contribute with the government’s efforts to rebuild the crumbling infrastructure due to war and siege. And the First Amendment, conducted by Iraq to the law in 2009 allowed the foreign investor the right to own land and property belonging to the state allowance determined according to the system particular, also has the right to own land and property belonging to the mixed and private sectors for the purpose of the establishment of housing projects.

http://bit.ly/ykLoEi
~The opinions expressed in the above article do not necessarily reflect the views of the person posting~
User avatar
Stillw8n
Admin
Admin
 
Posts: 4520
Joined: Tue Sep 20, 2011 4:10 pm

Return to Iraqi Dinar News & CBI Info

Who is online

Users browsing this forum: No registered users and 95 guests

cron