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Securities: the openness of the government to the private banks will strengthen its place in the market
Saturday 07 February 2015 | 10:30
Central Bank government has recently recommended that the state departments accept the instruments of private banks as well as other posts have implied in the Iraqi market, investment, bonds and other
Qurtas News / Baghdad
The president of the board of the securities Abdul-Razzaq al-Saadi, Saturday, that the recommendation of the central bank to the government to accept the instruments of private banks will strengthen their place in Iraq will Securities, noting that the high dollar exchange rate of the dinar against the impact on trading in the market.
Saadi said in a statement to "Qurtas News" that "the central bank recently recommended the government to accept the state departments instruments of private banks as well as other posts have implied in the Iraqi market, investment, bonds and other".
He said that "the Bank's recommendation, will enhance the status of private banks in the stock market because most traded companies in the market are private banks and this certainly will reflect positively on the economy of the country."
He added that "the recent rise of the dollar exchange rate against the dinar, which was one of the reasons to restrict the central bank sold $ 75 million per day in the auction currency had a negative impact on the stock market, because the market supply and demand, and in the case of reducing the amount of dollar sold will increase the need for him, raising its price ".
He continued that "the rise of the dollar has reduced the volume of trading in securities, because most traded companies dealing in dollars and in the case of variability there will be either stopped or withdrawal."
It is noteworthy that year's budget law in 2015, committed the central bank, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim to participate in the auction banks providing goods enter documents and statements of tax settling accounts Savings and Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.
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Saturday 07 February 2015 | 10:30
Central Bank government has recently recommended that the state departments accept the instruments of private banks as well as other posts have implied in the Iraqi market, investment, bonds and other
Qurtas News / Baghdad
The president of the board of the securities Abdul-Razzaq al-Saadi, Saturday, that the recommendation of the central bank to the government to accept the instruments of private banks will strengthen their place in Iraq will Securities, noting that the high dollar exchange rate of the dinar against the impact on trading in the market.
Saadi said in a statement to "Qurtas News" that "the central bank recently recommended the government to accept the state departments instruments of private banks as well as other posts have implied in the Iraqi market, investment, bonds and other".
He said that "the Bank's recommendation, will enhance the status of private banks in the stock market because most traded companies in the market are private banks and this certainly will reflect positively on the economy of the country."
He added that "the recent rise of the dollar exchange rate against the dinar, which was one of the reasons to restrict the central bank sold $ 75 million per day in the auction currency had a negative impact on the stock market, because the market supply and demand, and in the case of reducing the amount of dollar sold will increase the need for him, raising its price ".
He continued that "the rise of the dollar has reduced the volume of trading in securities, because most traded companies dealing in dollars and in the case of variability there will be either stopped or withdrawal."
It is noteworthy that year's budget law in 2015, committed the central bank, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, with the exercise of justice in the sale, and claim to participate in the auction banks providing goods enter documents and statements of tax settling accounts Savings and Alkmarki within 30 days from the date of purchase of the amount, and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.
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