Central Bank: We seek to amend the banking laws and go to play a developmental role for the economy
Author: ASJ, HH, NF Editor: HH, NF 11/24/2013 11:40 a.m. Long-Presse / Baghdad
The Central Bank of Iraq, on Sunday, seeking to amend the banking laws, including the proportion to the current situation, and pointed out that the money laundering law the most prominent laws that seek to modify it, while stressing that going to play a developmental role of the Iraqi economy.
The governor of the Central Bank and the Agency Abdel Basset Turki said in his speech during the first sessions of the workshop organized by the bank to modify the legal environment of banking in the Palestine Hotel, the center of Baghdad, and was attended by (long-Presse),
Read More Link On Right
"Since we receive the responsibility of the central bank discussed with the competent legal possibility of amending laws banking, which came after the occupation, according to the exceptional circumstances in order to develop and make it fit with the current banking business. "
Member Reflection wrote: Is this article from the CBI?
I like this little part, seems like they are trying to do it.
He Turkish that "the International Monetary Fund and in the last meeting in Geneva face of central banks to play a developmental role and not only stay on the organization of the financial policy of their countries," stressing that "the central bank actually taking this guidance, which is preparing a plan of economic development that will promote the reality Economic Iraq. "
[tlm724] yeppers reflection right from the turk himself "The governor of the Central Bank and the Agency Abdel Basset Turki said in his speech" and yes the Central Bank is taking their guidance from the IMF considering the IMF makes rules, when they comply they fly baby !! its amazing to watch this unfold ... winks
((editorial))..Infrastructure Author: Muhammad Abdul Jabbar Carp 11/24/2013 0:00
Old ours. This fact believe everyone! Old historical sense, any tradition. We are talking about the old country more than six thousand years, Bhoudarth and peoples and achievements.
It is enough to remember the obelisk of Hammurabi or the Epic of Gilgamesh or the other to know the extent of the long history of foot or Iraq, or Mesopotamia, Mesopotamia.
, and this sense of the word Old source of pride for us. One day I met a number of young Americans. When they knew I was from Iraq expressed Adarkhm the difference between Iraq and the United States. You said of the ancient country with ancient history, as we talk of the country has no history. It was they were saying, "Blessed are you!"
[tlm724] this is an interesting read ^^^ to summarize Iraq needs a process of comprehensive modernization in all things, and in all areas of life, and must combine all the efforts and resources and energies in order to achieve it.
The world ahead of much of the steps, as well as countries in the region. Unless pick up the pace we will not have to follow them. if you believe you can achieve it Iraq !
Hafiz occupation of Iraq confirms the possibility of a privileged position in the course of economic
Editing resources of the state of the dominance of the oil sector, the most prominent factored
Baghdad - Shkran Fatlawi
recommended a seminar hosted by the Institute of the progress of policy development in collaboration with the Federation of Businessmen and the Association of private banks need to identify the obstacles to achieving economic progress in the country Kanhsar state resources in the oil sector and stimulate the work of the private sector,
which is by having a public sector influential in economic activity, paving the way for private activity to be coordination between the two sectors to achieve the goal to be achieved.
[tlm724] and added we are going to strive to create a platform capable of creating a new tomorrow that supports these ideas and contribute to solving the problems of fiscal and monetary policy
and provides the climate for the prosperity of banks to ensure the support of national development and economic renewal destruction.
[tlm724] provides the climate for the prosperity of banks
[tlm724] so in association with private banks, they are formulating their plan in conjunction with the CBI plan imo , this whole thing is amazing !its unfolding right in front of our eyes
Central bank: hard currency reserves have exceeded 88 billion dollars
Author: ASJ Editor: BK, BS 24/11/2013 14:08 Long-Presse / Baghdad
Revealed the CBI, on Sunday, the arrival of foreign currency reserves of more than 88 billion dollars, indicating that it contributes to the stability of the dinar could be a "source of pride" for the Iraqis.
[tlm724] Holy sh.. where did they get 5 billion dollars in 8 days , just askin....Cool
Nov 16, 2013 central bank had announced an increase in monetary reserves of hard currency to (83) billion dollars after it was 76 billion dollars.
Amend banking laws 11/24/2013 0:00 Yasser incumbent
assesses the CBI today's workshop on the preparation and discussion of proposals to amend laws (banks, the Central Bank and money laundering.)
[tlm724] that it comes in the wake of the challenges faced this sector over ten years ago to respond to the requirements of the next stage
[tlm724] next stage
[tlm724] so its taken ten years to reach this point ! Now they are doing what is nessecary to come up to par with world economics as well as their own economic plan ! No more waiting this is the action we NEEDED to see !! *hallelujah*
Moves to strengthen the Iraqi trade balance 11/24/2013 0:00 BAGHDAD - Farah pumice
within the moves to strengthen the balance of trade to Iraq through coordination and support of all sectors of the local economy, signed a one Iraqi banks agreement on the framework of cooperation with the Arab Trade Financing Program adoption as one of the agency's national program in Iraq.
[tlm724] Under this agreement will provide a line of credit to the bank Iraqi National for use in the Arab Trade Financing so that it could contribute to the growth of exports and imports of industrial and service sectors in Iraq
[tlm724] and expressed hope that the increase resulting in Foreign Trade positive effect in promoting trade balance for Iraq and supports all sectors of the local economy.
and the source of the Arab and support the economies of the Arab countries and encourage trade in order to enhance the march of Arab economic integration.
[tlm724] noted that national agencies in Iraq and of (6) and benefiting from the Arab Trade Financing Program plays an important role in the development of the local economy through services provided by the program
[tlm724] would be interesting to know how much this loan was for,maybe we will find out if I can find the time but none the less this is great to see the more we see them facilitating trade the better !
Senior Economist: Raising the zeroes corrective action to facilitate the transfer and account currency
Ali Aldhargam - 11/24/2013 AD - 13:37 | Described an economic expert, Akram Abdel Aziz, a step central bank to raise zeros from the local currency, "the procedure for the reform aspects of the calculation."
She told all of Iraq [where]: "The deletion of zeros is to re-structure of the financial and banking sector and to reconsider the monetary policies."
"the procedure for the reform aspects of the calculation."
"The deletion of zeros is to re-structure of the financial and banking sector and to reconsider the monetary policies."
[tlm724] this is saying that the project to delete the zero's is part of the "new" monetary policy and will facilitate ease of transactions (calculation)
that it does not believe that "the lifting of the zeroes stating things in the last especially with regard to raising the value of the exchange rate or inflation
[tlm724] basically saying that this project will not correct inflation, that the Iraqi economy, if boosted by implementing the correct policies (activate the other sectors besides oil, free market etc..) , will curb inflation and add value
that the CBI has been teaching for more than two years, the issue of lifting the zeros from the Iraqi currency, but so far has not taken a firm decision in this regard.
[tlm724] this just shows us the people have been educated so lets roll this puppy out Turki !!