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3 trillion dinars returned in banking sector
15/8/2015 12:00 am
Baghdad-Mostafa Hashemi
One of the tools of monetary policy, with remittances, auction by the Central Bank to redirect some $ 3 trillion dinars on track planned by withdrawing cash from non-banking sectors and forwarded to banks for the purpose of launching the loans and advances as well as other banking business.
The aim of selling money orders to block absorption of cash outside the banking sector and transformed and routed to the banking system for credit granted by banks to serve the country's economy and contribute effectively in the development process and the service economy of Iraq.
In this context economic researcher said no just: Central Bank regulates good auctions to sell his drafts for term 19 days $ 200 & billion dinars for the purpose of withdrawing the money supply from non-bank entities to return it to the banking sector to support financing of different projects and investments of a number of companies or citizens, cash circulating in the market of 35 trillion dinars, this amount is very large by Economist Dr. Hilal altaian.
According to the statistics for "morning", the total bank auction sellers his drafts of approximately 2 trillion and 749 billion and 74 million until 4 August within the plan prescribed for the sale of more than 5 trillion dinars by establishing 26 an auction transfers this year completed sixteen of them held an auction so far and 2 auction sales in each month except the months of March and September next scheduled to attends three auctions to sell money orders.
Economic researcher noted that the purchase money orders by governmental authorities as retirement services and minors, social security is an excellent investment and risk-free pay them to play an active role in the secondary market.
She said the sale transfers section Nick Central Government departments and banks, one monetary policy tools that excite her Yen to deal with central planning and control liquidity levels rates p bent, c tweaked financial gains for government departments in this shared pain responded through interest rates and discount on those drafts.
As the Central Bank sold his drafts to private banks by amounts ranging from 100 to 150 billion dinars per week or more than that in a multiple interest rate the highest discount rate has reached 5 percent months ago for the purpose of controlling liquidity levels.
Banking expert was Dr Issam almhaoili said earlier in an interview for "morning": that transfers a duration of bonds due for repayment between three months and one year, and are not charged interest but are sold at a discount to face value and the Government gives them a cash benefit is relatively low compared to the prevailing interest rate on bank loans due to high liquidity of these cases stemming from the possibility of withholding advance due to the commercial banks.
Central Bank implemented last year 26 an auction also and with the same value listed, it should also be noted that the auction C e f a uniform auction price nominal value of 200 billion dinars.
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15/8/2015 12:00 am
Baghdad-Mostafa Hashemi
One of the tools of monetary policy, with remittances, auction by the Central Bank to redirect some $ 3 trillion dinars on track planned by withdrawing cash from non-banking sectors and forwarded to banks for the purpose of launching the loans and advances as well as other banking business.
The aim of selling money orders to block absorption of cash outside the banking sector and transformed and routed to the banking system for credit granted by banks to serve the country's economy and contribute effectively in the development process and the service economy of Iraq.
In this context economic researcher said no just: Central Bank regulates good auctions to sell his drafts for term 19 days $ 200 & billion dinars for the purpose of withdrawing the money supply from non-bank entities to return it to the banking sector to support financing of different projects and investments of a number of companies or citizens, cash circulating in the market of 35 trillion dinars, this amount is very large by Economist Dr. Hilal altaian.
According to the statistics for "morning", the total bank auction sellers his drafts of approximately 2 trillion and 749 billion and 74 million until 4 August within the plan prescribed for the sale of more than 5 trillion dinars by establishing 26 an auction transfers this year completed sixteen of them held an auction so far and 2 auction sales in each month except the months of March and September next scheduled to attends three auctions to sell money orders.
Economic researcher noted that the purchase money orders by governmental authorities as retirement services and minors, social security is an excellent investment and risk-free pay them to play an active role in the secondary market.
She said the sale transfers section Nick Central Government departments and banks, one monetary policy tools that excite her Yen to deal with central planning and control liquidity levels rates p bent, c tweaked financial gains for government departments in this shared pain responded through interest rates and discount on those drafts.
As the Central Bank sold his drafts to private banks by amounts ranging from 100 to 150 billion dinars per week or more than that in a multiple interest rate the highest discount rate has reached 5 percent months ago for the purpose of controlling liquidity levels.
Banking expert was Dr Issam almhaoili said earlier in an interview for "morning": that transfers a duration of bonds due for repayment between three months and one year, and are not charged interest but are sold at a discount to face value and the Government gives them a cash benefit is relatively low compared to the prevailing interest rate on bank loans due to high liquidity of these cases stemming from the possibility of withholding advance due to the commercial banks.
Central Bank implemented last year 26 an auction also and with the same value listed, it should also be noted that the auction C e f a uniform auction price nominal value of 200 billion dinars.
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