“The biggest deal for Iraq” .. (Baghdad today) publishes documents for the purchase of 30 tons of gold in international banks

Baghdad today – Baghdad

The First Deputy Chairman of the Parliamentary Integrity Committee, Alia Nassif, asked the Governor of the Central Bank, Mustafa Ghaleb Makheeb, about the bank’s purchase of 30 tons of gold.

According to the documents issued on August 29, obtained by (Baghdad Today), Nassif said, “We received information that the bank bought more than (30)) Tons of gold, which is the largest deal in the Central Bank’s purchase. Please answer the questions.”

Nassif added in her question: “Who is the Source of the sale, a government bank, a private mine, a property, and has the gold been examined in internationally recognized refineries, who is the authority in charge of purchasing, and what is the purchase price and is there a discount on the price of the stock exchange in force now? %”.

She also demanded, “By knowing whether the gold was transferred to the central bank’s vaults or remained in the custody of the seller, we have great fears in light of the chaos that is happening in Iraq.”

On the other hand, the central governor replied, according to the documents, that “the Source of selling gold is the international stock exchanges, and that all the gold purchased from international markets is within the specifications.” (London Good Delivery)And with the highest purity available on the market, 999.9″.

Regarding the party in charge of purchasing, the governor replied that it is “the French Central Bank and a bank.” JP-MORGAN“.

As for the purchase price, and is there a discount from the stock exchange price in force now, the discount is 6%, Makheeb explained, “The process of buying gold from global markets is not done at once in such quantities, as it is divided into small quantities and on multiple days to ensure that it does not affect the price of gold. The price of gold, despite this, a rise in the price occurs at or after the demand for purchase quantities.

The Governor of the Central Bank of Iraq indicated, “For this process, it included (19) payments and over a period of (13) working days, according to the best prices,” noting that “all quantities of gold purchased in safes under the name of the Central Bank of Iraq in the international central banks after Two or three working days from the purchase “.

In his answer to MP Alia Nassif’s questions, the governor indicated that “Iraq has advanced in gold reserves holdings 10 ranks globally, ahead of (9 countries, including 7 foreign countries and 2 Arab countries, as well as the Bank for International Settlements), so that Iraq ranks 30th after that. He was ranked 40.”