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Dinar Updates Thursday Late AM Chat 11-10-16 Part 3 of 3
1bobby says():Courtesy of RCookie:
Central contracts with international companies to "evaluate"the work of banks and show his commitment to the application of international standards
Long-Presse / Baghdad - Revealed the central bank governor on the Keywords, Thursday, for the contracted bank with international companies to evaluate the work of banks, as he emphasized that dealing with the banks will be in accordance with those assessments, as he pointed to the keenness of the bank on the application of international standards on the subject of control, compliance and risk management.
Keywords and said in an interview with (long-Presse), "The banking sector in Iraq is a modern training sector and modern existence, grew up in unfavorable conditions and in an environment of a lot of challenges, but at the same time contain a lot of opportunities," noting that " ensure growth and stimulate the banking sector depend on the application of best practices globally agreed and made thanks to which countries in the banking sector. "
He added Keywords, that "the central bank's focus, today, on these criteria is very large and is trying to apply the best standards on the subject of control, compliance and risk management," revealing that "the bank has a big program on the subject began to evaluate the work of banks, through a contract with international companies , it gave indicators and figures for banks operating in Iraq. "
Keywords noted, that "the bank is employing these observations and used to correct these banks where it will be dealt in accordance with those standards, which will be issued against them in all banking activities of the Bank."
It consists of the banking system in Iraq (54) banks as well as the Central Bank and distributed by ownership between 7 state banks and 23 private banks, including commercial (9) Islamic banks in addition to the 15 branches of foreign banks.
Read More : http://www.dinarupdates.com/showthread.php?43533-Central-contracts-with-international-companies-to-quot-evaluate-quot-work-of-banks-RCookie
1bobby says to NWBeauty():Semper Fi
1bobby says():We should rename the Forums at DU.....The Banking Sector Forum. The news is crazy good
Doug_W says():ewww forum...scarrrry place 4 me I get lost
1bobby says to Doug_W():We have special guides lol
1bobby says():Tariq Ali: structured finance provided by private banks for phrase beneficiaries reduce poverty levels
Date 10/11/2016 - 18:16 Economy News / Baghdad ...Said Executive Director of the Association of Iraqi private banks Ali Tariq, he was discussing the creation of the Development Fund is financed by the government and international monetary institutions that fund is aimed at all segments of society and focus on the poor by creating jobs for them makes them able to enter the labor market.
Tariq said in an interview for "Economy News" that "financial inclusion is very important in this important aspect and helps to deliver banking services to a broader segment of society to achieve the goals of development will lead to the achievement of development in all sectors."
He added that the structured finance provided by private banks for phrase beneficiaries in all segments of society, raising the family's economy and reduce poverty levels.
Reminds the Committee of Experts in the Prime Minister and the Association of Iraqi private banks examined the proposal during a round the Cabinet table creation of the Development Fund is financed by the government and monetary institutions Atahriash Minister and the Association of Iraqi private banks and the Ministry of Planning.
Read More : http://www.dinarupdates.com/showthread.php?43534-Tariq-Ali-structured-finance-provided-by-private-banks-for-phrase-beneficiaries-redu
1bobby says():That goes along with what Loop brought in about the Development Fund being established :)
1bobby says():you could also tie those into what Holly1 brought in. Love this puzzle!
bronclee says():Between election results and all the banking news this week...how can you not get a little bit excited? :)
1bobby says(): The Central bank refuses to bury the money and calls on citizens to acquire government bonds
Alsumaria News / Baghdad - Rejected the central bank, on Wednesday, "bury" the money underground, while calling on citizens to purchase government bonds.
The bank said in a statement received Alsumaria News , a copy of which was "noted the increasing incidence of the audience to revisit replace buried currency very large amounts . " noting that "this process is a negative indicator of the lack of interest in the national currency.
" the bank , "he said the national currency was buried lead to harm deliberately national currency and carries extra Colva," adding that "currency is a symbol of national sovereignty and symbols."
The bank called for "citizens ' interest in the national currency and not to bury it in the ground and go back to keep them at the government and private banks," urging them to " the acquisition of government bonds alternative to hoarding as a means of saving."
Founded CBI independent bank under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies. Alsumaria News
Courtesy RCookie :
1bobby says():Magda Tamimi: Rethinking the fiscal policy has become inevitable
BAGHDAD /tomorrow Press - Confirmed the parliamentary finance committee member Majda al-Tamimi, said Tuesday that re-examine the fiscal policy in the country has become inevitable, stressing that it is necessary to diversify the revenue until the economy not be subject to fluctuations in world oil prices and policy affecting the oil market.
She said Tamimi in an interview for "tomorrow's Press," that "the general budget still depends largely on the oil revenues, which amounted to about 86%not to mention the absence of other sectors and have yet to find those considering or actual steps of the previous governments and the current to change this approach, it is imperative to restore public finance policy and provide what is more worthy to work with and this is it inevitable to provide subject for discussion".
She said Tamimi, "it is necessary to diversify its revenue so it is not the economy subject to fluctuations in world oil prices and policy affecting the oil market," indicating that "it is by stimulating the export subsidy policy and the trend towards investment in the real sector and the importance of opening the door for foreign direct investment as playing a significant role to reduce production costs and improve quality".
She stressed that "there are ideas and proposals submitted to the Committee and will be discussed in turn after the completion of the vote on the 2017 budget being busy, and will be discussed by effectively to put an end to this file, which repeats its mistakes every year without change". Alghadpress.com
GM GUYS.. HERE IS TAMIMI PROVIDING SOME EXCITING INSIGHT AS TO IRAQ'S 2017 OIL RELIANCE DOWN TO 86%....BIG MOVE FROM THE 95% FROM PAST AND IMF EMPHASIS ON WANING OIL RELIANCE...
ALSO SHE OUTLINES THAT FOREIGN DIRECT INVESTMENT (FDI) AND RESTORATION OF SOUND PUBLIC FINANCE POLICY AS MEANS OF DRIVING IRAQ'S EXPORT CAPABILITIES THROUGH IMPROVING IRAQI MADE GOODS PRODUCTION COSTS AND QUALITY WITH APPLICATION OF THIS FDI...
WHICH SHE POINTS OUT HAS BEEN TALKED ABOUT IN THE PAST BUT NOT ACTED ON.....
SORT OF PLAYS INTO SALEH STATEMENT ABOUT "IT BEING TIME FOR DEEDS AND NOT WORDS" IN THE STRATEGIES TO REPAIR IRAQ'S ECONOMY...
1bobby says():Thanks Mr. Rcookie!
1bobby says():Central banks will lend banks and civil trillion dinars to revive economy
Economic Adviser to the Prime Minister Haider al-Abadi revealed that the Iraqi Central Bank will lend banks and civil banks trillion dinars.
He said the appearance of Mohammed in a press statement that 'the CBI will be distributed loans worth trillion dinars on private banks estimated fair, under the controls and the ability to manage it.'
Saleh added that 'the loans will include small and medium enterprises that are active capital and the economic cycle in Iraq', noting that 'some of the complaints which may be raised by the private banks, but the central bank is able to solve it', denying 'presence Marqlat on loan or delay in distribution' .
He said the move 'in order to develop the local economy and resolve the economic problems of the citizens and the support to the initiative of loans launched by the Central Bank of Iraq. "
The Governor of the Central Bank and the Agency on the Keywords held this week a series of visits included a number of private banks to determine the main obstacles and challenges faced by banks in order to reach one goal, a financial and economic stability.
Courtesy RCookie :
1bobby says():Looks like a stimulus package to me
1bobby says():Keywords: announcement of the classification of banks committed to the central bank standards
Date 11/10/2016 - 18:24 Economy News / Baghdad ...Revealed the central bank governor on the Keywords, for the technical committee at the central bank completed Tsneev and evaluate banks and will announce the names of committed banks, the central bank standards, it came in his answers through questions directed at him in a seminar hosted by the Two Rivers Center for dialogue on monetary policy in Iraq .
Keywords and said that the banks that will get the Commission's assessments will be concluded to increase its stake in the window of the currency as committed in the instructions mechanism and selling at list prices.
He added that the options can not be implemented without the continuation of the currency window to secure the necessary liquidity.
The central bank has adopted standards for banks to enter the auction has been reviewed by an international office.
The participants came up with conviction that no other option at the moment after the window briefed on the advantages and disadvantages.
The symposium recommended the need for stakeholders commitment to media statements insulting the reputation of the country and its economy after the presentation of facts to the participants in the intervention of the President of the Association of Banks, Mr. Wadih Handal said the national currency exists and clean but this does not mean lack of corruption, and we as an organization Mdnielalimkn community to address that but the competent authorities.
The Two Rivers Center for Dialogue and chaired by Mr. Zaid Tlghani one discreet centers.
1bobby says :Tired of the banking news yet? :)
jetset says to 1bobby():this is excellent
1bobby says to jetset():Yeah I'm having a hard time containing myself!
1bobby says():Ok my times almost up, so 1 more from Rcookie and the CBI
1bobby says():Central publishes a schedule prices, gold bullion and coins, and confirms that the latest unavailable
The deployment of the Iraqi Central Bank, on Wednesday, a schedule prices gold bullion and coins for the current week, as he pointed out that the coins are currently unavailable.
Bank and publish a schedule of prices of gold bullion and coins for the current week Alsumaria News received a copy of it, and the table that the specie 15 g and which normally retails for 751 thousand dinars unavailable while the price minted reached 22 carat g 1.099 million dinars and referred to it is currently unavailable.
Table and he explained that alloy 5 g price stood at 260,000 dinars, while the price of alloy 50 g amounted to 2.606 million dinars.
Courtesy of RCookie
HMMM... GOLD COINS NOT CURRENTLY AVAILABLE.....
Read More http://www.dinarupdates.com/showthread.php?43537-Central-publishes-a-schedule-prices-gold-bullion-and-coins-RCookie
jetset says():things that make you go hmmmmmm!
1bobby says to jetset():Gets one to thinking for sure :)
Read More :http://www.dinarupdates.com/showthread.php?43506-Thursday-November-10-2016