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Dinar Updates Wednesday AM Chat 11-23-16 Part 1 of 3
loop says():Beirut International Arab Conference 2016 .. lobby for better cooperation banker
It began in Beirut this morning acts of the Iraqi banking sector forum titled / restore confidence and avoid withholding money from banks In the presence of Central Bank Governor Dr. Ali Keywords and general secretary of the Union of Arab Banks and Sam Fattouh and head of the Iraqi private banks association Wadih Handal and Vice Chairman of the Central Bank of Lebanon and a number of Iraqi leaders Banking.
He gave Governor of the Central Bank of Iraq, the word at the beginning of the forum reviewed the bank's activities in promoting the work of the Iraqi private banks, which has seen a significant expansion as more units than the 30 private banks as well as 15 branches of Arab and foreign banks, while State-owned banks remained unchanged without expansion, noting that this expansion needs a lot of care and attention by the central bank, especially Maitalq Pthchinha in the face of problems.
Keywords and praised the role of the Central Bank of Iraq in the face of the financial crisis in Iraq and the treatment of farmers and contractors dues Keywords praised the efforts of the Secretary General of the Union of Arab Banks, pointing out that the presence of the Lebanese banks in Iraq was largely the focus of our respect and appreciation, because the Lebanese banking sector has a long history and has faced big problems was able to overcome.
The value of this banking Elhoudoralbannana that preceded the other countries were not present in the framework of the business, but only in the convergence of social Thafik myself between the two countries.
Turning the governor of the Iraqi Central Bank to the Bank's role in the achievement of price stability and the reduction of inflation and achieve the highest degree of financial stability as well as its role in the face of the financial crisis and the requirements of the war with the terrorist organization Daesh.
He also praised the role of the Central Bank in lending to small and medium enterprises to achieve socio-economic growth, declaring that he is now considering expanding this initiative which he described the job.
And Acharmahafez to open the door of the government to deal with private banks through the decision to allow private banks to distribute salaries for civil servants Turning to the Lebanese banks with the problem of the Kurdistan region, noting the central bank to Ptousel initiative with the province to pay cash dues that are paid instruments later.
The Governor emphasized that Iraq fighting a last stage of the confrontation with terrorism expected to witness the next phase of stable growth and recovery and economically significant in the whole of Iraq
For his part, reviewed the secretary general of the Union of Arab Banks and Sam Fattouh in a speech early days Forum Union's role in supporting the banking sector in the Arab countries through the exchange of information and experience particularly in the field of banking work to restore confidence and the development of the banking industry.
He stressed that Iraq is a rich country and there are rewards in large ambitions, calling for Iraqis to strengthen efforts to achieve sustainable development.
He praised the efforts of the Iraqi private banks association and its president, Wadih Handal, stressing that the Union of Arab Banks is seeking to strengthen its role in Iraq because we are dealing with Arabs and Arab country.
This examines the forum which will be held on the sidelines of the annual Arab banking conference for the 2016 session 21 reasons for a lack of confidence of the Iraqi banks and the experience of Lebanese banks in Iraq and the evolution of the banking industry in Iraq and the Arab region and the alternatives.
Read More http://www.dinarupdates.com/showthread.php?44041-Beirut-International-Arab-Conference-2016-lobby-for-better-cooperation-banker
Doug_W says():its HUMP Day
rcookie says():Discuss building a solid banking system challenges
23/11/2016 0:00 NNBAGHDAD / morning regulated in Beirut today Forum Iraqi banking sector , local presence and regional broad and deals with the banking business experiences in Iraq and the work of the central bank in both Iraq and Lebanon in the presence of Governor of the Central Bank of Iraq general secretary of the Union of Arab Banks and the head of the Iraqi private banks association and the collection of money experts and economists in Iraq and the balance of sharing different countries of the world.
Executive Director of the Association of Iraqi private banks Ali Tariq said that the forum is an opportunity to connect with the regional and international environment, with the participation of experts on a high level of banking experience and their work experiences in various countries around the world, and this is beneficial to the Iraqi banking sector, especially as the public and private banks and the Central Bank of respondents placed this.
this forum is organized on a regular basis in order to consolidate the bridges of cooperation with regional and international banks and stand at the latest developments in the global development banks.
The international financial expert d. Sadiq al - Shammari pointed out that the forum deals with the banking reality and the experience of the central bank in both Iraq and Lebanon and the reasons for the weakness of Iraqi confidence in banks and the experience of Lebanese banks in Iraq, as well as the evolution of the banking industry in Iraq and the Arab region and the alternatives.
In turn , an economist Samir Nasiri said he focused during the forum to reconsider amending banking legislation in Iraq, which regulates the banking work for the advancement of reality banking and in particular the Central Bank Law No. (56) of 2004 and the Banking Law No. (94) for the year 2004 and the law of registration of companies No. 21 of 1997 and the law of Iraq Stock Exchange No. 74 of 2004 , and the activation of money laundering and investment law the new law.
as we stand when addressing the technology gap and provide legal and technical requirements for twinning widespread among government banks and private banks on the one hand and between the international banks on the other hand , in order to develop a system payments and banking modernization and regulation of the financial and monetary trading processes according to the latest applied modern electronic banking systems in the world.
loop says():The government responded to international criticism of amending legal and financial management of the Integrity Commission
Business & Finance
Economy News / Continue ...Economic Adviser to the Prime Minister revealed the appearance of Mohammed Saleh, Wednesday, that the amendment of a law of financial management and the Integrity Commission basis in international loan condition, stressing include it in the budget of 2017.
He Saleh interview, said that "the conditions of the International Monetary Fund that was included in 2017 financial management reform in Iraq's budget."
He added that "among those reforms, there must be an international auditing firm, audited all of Iraq's internal and external resources and determine if there was a capacity for religion."
He noted economic adviser, that "the basic conditions also amend the Financial Administration Act in accordance with the modern international foundations, including guarantees of transparency and insufficient resources management, in addition to checking oil imports properly were not being properly scrutinized in previous years."
And between, the "conditions include modifying the Integrity Commission Act in accordance with the United Nations Convention Against Corruption, to give the body an international arm of the prosecution of corrupt money and contraband."
Saleh stressed that "these are not what more are part of the bag of reform to the Prime Minister Haider al-Abadi conditions, and are beneficial to Iraq."
Read More http://www.dinarupdates.com/showthread.php?44042-The-government-responded-to-international-criticism-of-amending-legal-and-financial
rcookie says():I KNOW ITS EARLY......BUT THIS IS BIG DU......AND HAS SOME INSIGHTFUL LEGISLATIVE ACTIONS WE ARE LOOKING FOR.......
rcookie says():SO.....HERE WE HAVE A REPORT FROM YET ANOTHER BANKING FORUM...THIS ONE FROM BEIRUT...ATTENDED BY ALAK...TARIQ & SEC GEN UNION ARAB BANKS....
INT'L FINANCIAL EXPERTS LIKE SHAMMARI & ECONOMISTS LIKE AL NASIRI...ASSEMBLED TO CONNECT & COOPERATE WITH THE REGIONAL & INTERNATIONAL BANKING & FINANCIAL ENVIRONMENT...
DIGIman1 says():gm mr cookie.....never too early.....just sayin....
rcookie says():WORKING TO REVIEW AND ASSESS THE REASONS FOR WEAKNESS OF CONFIDENCE IN IRAQI BANKS...AND LEVERAGE THE EXPERIENCE & SUCCESS IN LEBANESE BANKS IN DEVELOPING IRAQI BANKS IN IRAQ & THE REGION...
rcookie says):ASIRI ONCE AGAIN IDENTIFIES WITH DETAIL THE CRITICAL FINANCIAL & BANKING LAWS IN NEED OF ADDRESSMENT & AMENDING WE SHOULD BE LOOKING FOR OUT OF PARLIAMENT...TOWARD THE END OF ACHIEVING RALITY BANKING IN IRAQ...
rcookie says():1. CENTRAL BANK LAW NO. 56 (2004)
2. FEDERAL BANKING LAW NO. 94 (2004)
3. COMPANIES LAW NO. 21 (1997)
4. IRAQI STOCK EXCHANGE LAW NO. 74 (2004)
rcookie says():THESE IN ADDITION TON INTEGRATING ANTI CORRUPTION AML.CFT LAWS AND SYSTEMS INTO INVESTMENT LAW INTO THE INTERPLAY OF IRAQI STATE & PRIVATE BANKS WITH THE INTERNATIONAL BANKS THROUGHOUT THE WORLD...
IN ORDER TO DEVELOP A SYSTEM OF PAYMENTS & BANKING MODERNIZATION & REGULATION OF THE ELECTRONIC MONETARY TRADING SYSTEMS & TECHNOLOGIES...
rcookie says to DIGIman1():GM DIGI!!...
loop says to rcookie():(y)
loop says):Currency fire arch window!
Author: Yasser incumbent 23/11/2016 0:00
Economics and politics experts and parliamentarians acknowledged the existence of confusion in the concepts and terminology , calling on monetary policy in Iraq led to a chaotic opinion about these concepts.
They demanded of journalists clarify public opinion through the dismantling of interlocking information in this regard.
"This is the findings of the dialogue seminar conducted by the Iraq Center for dialogue on the Central Bank of Iraq , one of the centers to study the economic, political and social phenomena and develop the required resolve the complexities and challenges through a transparent and constructive dialogue policies."
The identified topics seminar or Episode talk shows (call it whatever you want) in three axes very important at the present time "is the foreign currency window - the Iraqi dinar exchange rate against the dollar - development loans launched by the Central Bank of Iraq, its objectives and the reasons for the difficulty of implementation or slow down - and the third axis centered on the final touches of the Central Bank in recent dialogues with the international Monetary Fund and the external aspects of lending.
Spokesman for the governor of the central bank on the Keywords responded to questions directed at him and focused on the sale of foreign currency placed any window " of the dinar exchange rate against the
Keywords from where he managed to put the participants in the symposium real image about the advantages and disadvantages currency window to the extent that everyone is realizing that there is no option to benefit the tight monetary policy without currency window in the face of the difficult challenges faced by the economy of the country because of the severe financial crisis that hit the world at large.
Interviewers have exhausted all Bdjapthm of questions based on statements released through the media of people who are not specialists confused public opinion.
Every jolt permit in the market and the result of these untrue statements, just running on the machine measures will not be needed in such circumstances.
Talk concluded that this fire arc goes in two directions, toward the goal Faihma country from collapse in the economy and the exchange rate remains balanced on the market and inflation in the circle of control or that there is no faulting the goal remains little thing and the result may have dire consequences.
Recommendation fear Allah , O ye declarants knowledge of him , but knowing and leave monetary policy for her family of specialists, experts and kept the value of the dinar from collapse.
Read More http://www.dinarupdates.com/showthread.php?44054-Currency-fire-arch-window!-11-23