Gem: With the Anti-Money Laundry Law being passed (post #211 by Walkingstick), the CBI set to sell Bonds the middle of the month (3/15/16 next week also post #193 by Walkingstick) and Iran New Year set on the 20th of this month and our CC notes the dominoes are starting to fall for us to see the real Iraqi rate and the rest of the line to move this month!!!
SteveP99: I Just heard Frank say…TA DA FREAKEN DA!!
Don961: Iran and Iraq ……following international guidance to get back into the world economic machine
Walkingstick: CBI News and announcements
( Declaration ) of the Central Bank of Iraq will launch national bonds ( nominal ) on behalf of the Ministry of Finance nominal terms on 2016 /3 / 15 and ending in 2016 / 4 / 15 Bosaddarah of five categories
03/09/2016 http://www.cbi.iq/?pid=Home&lang=ar
The central bank plans to launch a national bonds in five categories of the middle of this month
Wednesday 9 March 2016 11:50
said the Iraqi Central Bank, on Wednesday, his intention to launch a national bonds in five categories of the middle of this month, indicating that the Annual her interest amounting to 6%, among it can be used as collateral to obtain financial facilities loans. The bank said in a statement received Sumerian News , a copy of which he “will launch national bonds (nominal) on behalf of the Ministry of Finance in nominal terms and as of the middle of this month , March 15 and ends on 15 April next year,” adding that “Asdarih will offer five categories include (100,000 and 250,000, and 500, 000 and 1,000,000 and 5,000,000). ”
The bank said that ” the value of these funds to be raised will reach 1.5 trillion dinars ,” noting that ” the sale will be at a discount and will be 6% interest per annum and is payable by the Ministry of Finance in March , 142,018.” He said the bank “can citizens and banks all make requests purchase to the Central Bank directly , “pointing out that” he can use those bonds as collateral for loans and facilities or any transactions require collateral, as well as can be traded in a market in Iraq Securities buying and selling and are deductible to the public and private banks.
” Iraq is seeking to issue bonds internal and national in order to finance the deficit in the public budget for Iraq as aresult of the drop in oil prices to below $ 30 per barrel. founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which isresponsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily buying and selling of foreign currencies , except for public holidays on which depends the Bank for these auctions
http://www.alsumaria.tv/news/1…..5%D8%B3/ar
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Walkingstick: Wednesday, March 9, 2016 – 02:00
Mohammad Affianian Anti-Money Laundering Law Passed
Iran took a meaningful stride toward upgrading its banking and financial laws closer to international standards with the Guardians Council ratifying a long-pending bill to counter money laundering and financing of terrorism.
The bill–drafted by the government in 2010—had underwent a tortuous path, as it was passed by the parliament in 2011 but was rejected by the Guardians Council. It was sent for revision to the judiciary and was once again tabled in the parliament where lawmakers ratified it as a law in the current Iranian year (ending March 19).
The revised bill was finally approved by the Guardians Council and became a law on March 3.
The Guardians Council, made up of six Muslim clerics appointed by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei and six lawyers elected by the parliament, is charged with ensuring draft laws comply with Islamic laws and Iran’s Constitution.
On Par With Int’l Laws
Hamid Tehranfar, Central Bank of Iran’s deputy for supervision affairs, welcomed the new development on Tuesday, saying he was “very satisfied” that the anti-terrorism bill now had a statutory status, adding that the Iranian law is on par with international anti-money laundering laws and regulations.
“Although we had a set of anti-money laundering and anti-terrorism measures in place, they were not in the form of a comprehensive and clear-cut law, which opened us to criticism by foreign banks and international regulatory bodies,” Tehranfar said in a news conference at CBI’s headquarters in Tehran.
“The measure is in line with our efforts to reform our banking laws and upgrade them to the level of global standards and this is why we voluntarily asked the International Monetary Fund to review our anti-money laundering regulations so other countries’ banks feel reassured. The IMF will announce its assessment in 2018.”
Tehranfar explained that the law addresses various aspects, including a “definition of terrorism” as per international norms, outlining methods of financing terrorism as well as punitive and deterrent measures to prosecute criminals.
In January, world powers led by the United States and the European Union lifted most sanctions on Iran in return for temporary curbs on its nuclear program.
As part of sanctions relief, most Iranian banks were reconnected to the SWIFT international payment network last month, allowing them to resume cross-border transactions with foreign banks. But because of foreign institutions’ legal fears, operations were limited.
Asked by Financial Tribune how the passage of anti-money laundering law would ease foreign banks’ fears in dealing with Iran, Tehranfar said it would be “very effective.”
“I believe this law will be very helpful in sending a message of goodwill to financial bodies across the world and would also be effective in allaying their fears in doing business with our banks,” he said.
According to the official, the text of the law will soon be translated into English and other languages so that foreigners will become familiar with its contents.
Rating Improvement
Tehranfar hoped that the new measure would help improve Iran’s rating in different areas, including the risk of doing business in the country.
“It would herald other reforms to restructure Iran’s banking system, which is beset by outdated laws and regulations after years of sanctions isolated it from global interactions,” he said.
“For the coming year, we will continue to promote reforms of the banking industry, including the adoption of Basel II and Basel III principles.”
Tehranfar welcomed the entry of international rating agencies like Moody’s and Fitch into the Iranian market, but said CBI has not been contacted by any agency, except KPMG.
Short Url : http://financialtribune.com/ar…..law-passed
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Walkingstick: Advisor to the infallible: the bank will launch a billion dollars a month to secure the salaries of state employees
Economy since 03.09.2016 at 16:40 (Baghdad time)
Special – balances News
Economic Adviser to the President of the Republic Khalifa al-Zubaidi announced on Wednesday that the central bank will begin regardless billion dollars from the bank to the government reserves starting next month to secure the salaries of state employees.
The government revealed, earlier announced their intention to launch bonds worth two billion dollars during the coming period and the benefits of rewarding.
Zubaidi said L / balance News / “The Iraqi Central Bank reserves at present amounts to about $ 58 billion.”
He added that “between the government and the central bank was agreed to exchange the bank about one billion dollars a month from the reserve as early as next month to provide salaries for state employees.”
Zubaidi said, “The government will use oil revenues after it saw a slight increase in recent financial bonds to be launched by the bank for the conduct of the affairs of state and displaced persons and the expenses of the war on terror Daash.”
This confirmed al-Zubaidi’s / balances News /, earlier, the government’s inability to secure the employees’ salaries without international loans and hypotheses of the central bank, noting that the loans will provide salaries for six months, “.anthy 29
From: Mohamed supporter
http://www.mawazin.net/%D9%85%…..9%84%D8%A9
