ADDITION TO THE CBI WEBSITE

from Enorrste…
I went to this new site and looked through it.  In the Financial Sector under currency I found that 90% of the currency issued by the CBI is located outside of banks.  The banks only have 4 trillion dinar out of a total money supply of 40 trillion dinars.  No wonder there is a liquidity crisis within the country.  Hopefully the issuance of larger notes and gold coins will flush out most of this money and get the ball rolling toward a free floating currency.

From Kap…
It is very clear, the CBI had created the website to document the statistics needed for international banking and guidelines.  Once it was done, tested, it was integrated into the main CBI site as of today.

There is some real significance to this site.  First the site was sorta (underground) for a period of time as they prepared and published the information.  To connect it with the main site (cbi.iq) today, tells the world about this site.  Second, this kinda reporting is a requirement for international commence.  The IMF has talked in the past about reporting systems, etc in Iraq and the need to improve.  I think we can safely say that this new information is a real step forward towards compliance with the global banking system.  It seems like another piece of the puzzle and a clear step towards the end goal.  This was posted in the IMF SMP...

Key Financial Indicators

Weekly preliminary monetary and financial aggregates as in “ Key Financial Indicators” including exchange rate data (daily), currency in circulation, transferable and other deposits held at commercial banks, balances on government accounts at the CBI, interest rates on loans and on deposits at commercial banks, holdings of government securities, and credit outstanding to the public and private sectors. The data, excluding exchange rates, should be reported no longer than three weeks after the end of the reference period.

So we can see that improving the reporting system in the CBI was something identifed.