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cbi iraq

Release time:2018-01-07

After World War I, Iraq's monetary system was administered by the British Mandate of Mesopotamiauntil 1931, when the Iraq Currency Board was established in Londonto issue the new Iraqi dinarand maintain its reserves. The Iraq Currency Board pursued a "conservative monetary policy, maintaining very high reserves behind the dinar", which was "further strengthened by its link to the British pound".[1] In 1949, the currency board was replaced by the National Bank of Iraq, which had been founded two years before on November 16, 1947. The National Bank of Iraq became the Central Bank of Iraq in 1956.[2]Since switching over to its own central bank, the Iraqi monetary system was "replete with mismanagement, coercive stop-gap measures, and the production of an unstable, unreliable currency which ha[d] not been tradable on the international market for [many] years". Saddam Hussein wielded monetary and the dinar as "a powerful instrument of repression".[3] In March 2003, on several occasions beginning on March 18, the day before United Statesforces entered Baghdad, nearly US$1 billion was stolen from the Central Bank of Iraq. This was considered the largest bank heist in history until 2011.[4]That month, a handwritten note signed by Saddam Husseinsurfaced, ordering $920 million to be withdrawn and given to his son Qusay Hussein. Bank officials state that Qusay and another unidentified man oversaw the cash, boxes of $100 bills secured with stamped seal known as security money, being loaded into trucks and trailers during a five-hour operation.[5]Qusay Hussein was later killed by the U.S. military in a battle.[6] After the 2003 invasion of Iraqand Saddam Hussein's downfall, the Central Bank of Iraq was established as Iraq's independent central bankby the Central Bank of Iraq Law 2004, with authorised capital of 100 billion dinars.[7]According to the law, 100% of the bank's capital stock would be held by the State and would not be transferable.[8]


cbi.iq - Central Bank of Iraq
Includes information about banking laws and monetary policies, statistics, publications, and exchange rates.


Home Page [www.cbiraq.org]
The Central Bank of Iraq Law was issued March 6, 2004. Its objectives are achieving domestic price stability, and promoting a competitive stable ...


CBI, the latest Central Bank of Iraq news
CBI, the latest Central Bank of Iraq news analysis by IraqiNews.com.


Central Bank of Iraq - Wikipedia
The Central Bank of Iraq (CBI) (Arabic: البنك المركزي العراقي ‎) is the central bank of Iraq


Central Bank of Iraq (CBI) | Iraq Business News
Iraq Business News brings you the latest news from the Central Bank of Iraq (CBI). Subscribe for regular CBI Iraq updates, including Iraqi Dinar Revaluation and


CBI | Iraq Business News
The latest news on CBI (Central Bank Iraq) – banking, capital, government and more – brought to you by Iraq Business News


IQD - Iraqi Dinar rates, news, and tools - XE.com
The Iraqi Dinar is the currency of Iraq. ... In 2010, the Central Bank of Iraq announced their plans to redenominate the Iraqi Dinar to ease cash transactions.


Central Bank of Iraq
The primary objectives of the Central Bank of Iraq (CBI) is to ensure domestic price stability and foster a stable competitive market based financial system.


Home Exchange Rates - Central Bank of Iraq
Home Exchange Rates - Central Bank of Iraq


CameraIraq.com - Iraqi Dinar News and Central Bank of Iraq ...
Iraq Currency News and Revaluation Updates CBI Iraq
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