Governor of the Central Bank of Iraq: the opening of branches of banks of U.S., French and Lebanese in Baghdad
Posted by Iraq News Journal on May 16, 2014
Our boy Turki has the banks lined up, the legislation lined up and project lined up...SWEET !! Great to see this in print again with further details !
revealed the governor of the Iraqi Central Abdel Basset Turki from near the opening of branches of U.S. banks and the French and Lebanese in Iraq.
He said the Central Bank of Iraq has a bill to regulate the work of banks and anti-money laundering as well as the draft of the new law of the Iraqi Central Bank.
And the project to delete the zeros of the central bank governor said that the new measures will be there by the middle of this year, the bank raised about the new currency and the deletion of zeros, indicating that the bank has a very large mass of cash.
Iraq during the next term for the nomination of the first tranche developed for these banks to exercise receive deposits from the government of Iraq and the provision of services to the government, adding that he will then move on to all the Iraqi banking system
[tlm724] I was just thinking further about the banking laws and
[tlm724] I would think it would be prudent to have those laws in place PRIOR to the US, French and Lebanese Banks opening
[rsp1] Yes, it certainly would be.
[tlm724] Turki said in a special statement (the statement), it will soon be opening branches of U.S. banks, including Pocket Morkn and Citibank, noting that the investment opportunities that would be granted to these banks will not be available in the same way for other banks in Baghdad.
[Shredd] Pocket Morkn = JP Morgan me thinks
[tlm724] so Turki has formulated a different operating system for them so to speak
[tlm724] Shredd yes I agree JP Morgan
[Shredd] timmy, question...
[tlm724] Shredd yes sir
[Shredd] do we know what the banking laws are about, like what the laws are, I'd love to go read up on them
[tlm724] not specifically Shredd, the current laws are posted on the CBi but the new ones I haven't seen yet
[Shredd] i tell ya....I'm waiting to exhale regarding this project and I'm really hopeful they are gonna kick it off
[Shredd] we will learn so much so fast about our investment once that first move happens
[Shredd] we continue to see that the old and new notes will coexist, so we are awesome there.....plus, we KNOW a lop/redenom ain't happening either
[Shredd] so not an IF but a WHEN like we've been sayin for a long time now, just nice to see those biggies confirmed
[tlm724] exactly which is the next best thing before the project begins, no LOP !
[Shredd] but, man, when this 000 project starts, we will be able to learn so much and what's nice is we will be able to wait as long as we want to exchange our dinar based on our own objectives
[tlm724] I think we are learning a lot right now, he is showing his hand little by little
[Shredd] agreed timmy
More than a billion dollars of Iraqi dues owed by several countries
[tlm724] Iraq is settling all debts both ways, what they owe and what they are owed
Minister of Finance: a delegation to Brazil to resolve the issue of outstanding debt
By Adminsa eight twenty-seven 19/5/2014
Brother - Baghdad
The Ministry of Finance has confirmed that it will send the next few days and technical delegation to Brazil to resolve the subject of debt owed on the Iraqi government in accordance with the Paris Club agreement
[tlm724] stressed the importance of coordination between fiscal policy and monetary policy on the grounds that the equilibrium model general economic in the country will not be achieved without the order of these two policies as requirements of the current stage
[tlm724] so get them lined up and get the tax program running
Law provides the infrastructure million jobs
[tlm724] experts to bring life to the law of infrastructure by pushing its endorsement, especially that it includes the implementation of large-scale projects at a cost in excess of 40 billion dollars
[tlm724] push baby push get that law activated !
[rsp1] large scale projects..... I likey
"this law projects include huge investment, the country needs her, especially as the payment of money is on credit until the year 2028." and called for "the adoption of the Law infrastructure, even if the parliamentary session next to the country's need for these projects, which will provide about one million jobs and operates dozens of laboratories and factories, and the movement of wheel construction and reconstruction in Iraq. " counting Economists frequently on passing a law
[rsp1] There's those jobs I was talkin' about
[tlm724] yep sure is rsp1
[tlm724] which would establish strategic projects large in Iraq , and is working on turning the wheel of investment, arguing that the process of payment on credit most prominent advantages of the law, which can save cluster of large cash to the state, and works to reduce investment expenditure in public budgets.
[tlm724] maybe this will encourage them " can save cluster of large cash to the state"
[rsp1] There's that #1 you talked about the other day with the WTO requirements (credit cards)
[tlm724] well sorta but not quite, this is using credit to fund large projects, building, labs etc..
Conference on investment in the stock market calls for international financial institutions to cooperate with the Iraqi banks
[tlm724]conference in the Iraqi market for securities held in Dubai, financial institutions and international banking to cooperate with the Iraqi banks to start services custodian in the Iraqi market for securities
[tlm724] FYI: A custodian bank is a financial institution that is responsible for holding and keeping safe the various assets of an investment company. The assets can include any type of security, including stocks or bonds, as well as assets like jewelry or other valuables. Banks of this type provide services to investors, as well as angel investor groups, and even individual investors.
[tlm724] 'It also recommended the amendment and change any instructions that would hinder the movement of the stock market