♦♦ CBI Remmtence Auction and Auction of Islamic Certificates ♦♦

♦ CBI Auctions

The Central Bank of Iraq has issued its own transfers and determined a system for this auction, which is held periodically according to the announced plan. Acceptance of bids will stop at one-thirty in the evening and its results will be announced at two-thirty in the evening or at the beginning of the next day’s work..For more Click here

♦ MOF Auctions

The Ministry of Finance is authorized under the "Public Debt Law" to issue obligations guaranteed by the government of Iraq.the Central Bank of Iraq,as fiscal agent of the Ministry of Finance is authorized to conduct auctions for government debt securities on behalf of the Ministry of Finance.

The Ministry of Finance issues government debt securities to finance the government of Iraq, subject to the limits of the "Annual Budget Law".To achieve this financing objective, the Ministry of Finance determined a system and mechanism for government debt securities auctions that will be held periodically, with the results announced at 11 am in the morning after the close of the auction at 10 am..For more Click here

♦ Auction of Islamic Certificates of Deposit CBI

The Central Bank of Iraq issued CBI (ICD) and adopted a mechanism to be applied on CBI (ICD) auction that will be held periodically, and the results will be announced after the closing time of the auction..For more Click here

♦♦ The Banking Systems used by the Central Bank of Iraq ♦♦

1- BANKING SUPERVISION AND REPORTING SYSTEM (BSRS)

Is a system that enables the banking, financial and debt management directorates to create an advanced technology infrastructure that supports the process of monitoring and auditing the work of banks and financial institutions and standardizing supervisory reporting processes using international standards by providing supervised banking and non-banking institutions with a single reporting interface for their financial budgets. Which accelerate the process of submission and feedback, increase data quality using advanced calculation methods, formulas and mechanisms of verification, and support transparency and validity of reports for control, reporting, risk control, resolution, policy formulation and decision-making.
 

2- CREDIT BANKING SYSTEM (CBS)

Is a system that provides a complete and updated central database of the credit data granted by banks to their customers on a continuous basis that corresponds to the Iraqi banking environment according to the best international practices, which allows the government and private banks to inquire and exchange credit information in a direct, fast, smooth and reliable in a short time, while providing a high level of security and confidentiality with Maintaining the role of the Central Bank in supervising, monitoring, developing and modernizing the system.

 

This system helps banks to obtain a credit rating for the customer, summarize the credit report and help the beneficiaries to predict the customer's ability to pay the new debt resulting from the credit he intends to obtain and assess the credit risk resulting from the decision-making.

♦ Conditions of publication in the Journal of Monetary and Financial Studies

♦ Journal of Monetary and Financial Studies

♦ Citizens can head to governmental and private banks to purchase gold bullion and coins

Weight/gm

Price/IQD

Pic./Front

Coin 22 gm

2,201,000

Ingot 5 gm

474,750

Ingot 10 gm

940,250

Ingot 15 gm

1,413,000

Ingot 20 gm

1,893,500

Ingot 25 gm

2,375,500