wmawhite ...the CBI indicated that the auctions were going to be restricted to once a week...we are looking for that to change. ...
The auctions are similar to an IV that the Iraqi economy has needed to sustain life because they were unable to function with just the IQD. But now, that is changing. How do we know this?
By just looking at what they are doing and by what the IMF, the World bank and the CBI has told us. Remember, all of these efforts to bring their financial system into the 21 century, the constant training of the employees about international commerce not unnecessary if Iraq was going to keep using the USD "IV".
Also, if Iraq could have enter the economy market while on the USD "IV" why haven't they already done so? The entire world accepts the USD.
The answer is in the statement from June 27, 2013 the day when the UN Security Council lifted the sanctions against Iraq. The Iraqi foreign Minister stated then that the Iraqi Dinar would again be great and powerful.
wmawhite The ISX spent huge $$$$ for the new trading platform that will enable it to trade with 23 other international trading platform from around the globe...they are waiting to activate it.
The ISX, IMO, is the one unspoken indicator that truly shows us that Iraq intends to change the status of the IQD, as well as its value.
SassyD: BUYBACK QUARTERLY -- S&P 500 --
SassyD: A Flood of Cash Is About to Hit Australia's Bond Market http://www.bloomberg.com/news/articles/2016-03-22/-42-billion-seeking-a-home-in-flood-of-aussie-bond-maturities
HArambe: Reuters: U.S. says it's not deterring foreign banks in Iran http://reut.rs/1RkCNka
SassyD: Share Buybacks Turn Toxic --03/21/2016 -- (in part) During the November-January period, 378 of the S&P 500 companies bought back their own shares, according to FactSet. Total buybacks in the quarter rose 5.2% from a year ago, to $136.6 billion. Over the trailing 12 months (TTM), buybacks totaled $568.9 billion. -- http://www.zerohedge.com/news/2016-03-21/share-buybacks-turn-toxic
Tishwash: Tehran, March 23, IRNA – Iran and Iraq inked a memorandum of understanding (MoU) in banking sector in Baghdad on Wednesday.
The MoU was inked in a meeting attended by visiting Governor of the Central Bank of Iran (CBI) Valiollah Seif and his Iraqi counterpart Ali Al Alagh in Baghdad.
During the visit, the two sides discussed ways for fostering banking cooperation.
Seif and Al-Alagh also agreed for establishing 'Iran-Iraq Joint Banking Committee' aimed at monitoring the proper implementation of the mutual banking agreement.
Two weeks ago, Seif said Iran expects economic growth of more than 5 percent in 2016, after lifting of international sanctions over its nuclear program.
The major oil producer's economy is still struggling and growth is close to zero but many investors are betting that restoring Iran's links with the world and attracting foreign capital and technology will trigger a long-term economic boom.
In January, world powers led by the United States and the European Union lifted sanctions on the country.
The subsequent leap in Tehran's stock market in late January and early February gave a hint of the country's investment potential.
Iran, Iraq sign banking cooperation accord
TEHRAN, Mar. 23 (MNA) – Iranian and Iraqi Central Bank governors have signed agreement which will facilitate bilateral cooperation in banking.
Valiollah Seif, Central Bank governor and Mr. Ali Mohsen Ismail signed the accord in Baghdad on Tuesday. They also discussed possible improvements in Tehran-Baghdad central bank ties.
Mr. Seif is visiting Baghdad to discuss several banking issues including local currency accounts in both banks and other types of cooperation to facilitate trade through providing a host of banking services which include but are not limited to Bank guarantees, letters of credit, and other treasury related exchanges. The accord emphasized also upon connection of National Financial Switch (NFS) of both countries to facilitate pilgrims’ use of credit cards in both sides of the borders.
Parties to the accord agreed that a permanent committee, called ‘Iran and Iraq Joint Banking Commission,’ would be established. Currently, two Iranian banks and a single Iraqi bank are active in Baghdad and Tehran, respectively.
Doodlebug: Banking cooperation memorandum was signed between Iran and Iraq
3 Farvardin 1395 (22 March 2016)
Bank memorandum on cooperation between the Central Bank of the Islamic Republic of Iran and the Central Bank of Iraq was signed by the presidents of the two countries.
The Public Relations Department of the Central Bank, Governor of Central Bank of Iran during his visit to Baghdad, Ali al-Allaq during a meeting with his Iraqi counterpart, Bank increased cooperation between Tehran and Baghdad can be examined.
But Saif Ullah on a visit to Baghdad about building relationships and opening bank accounts in local currencies and international interaction between the central banks of the two countries and mutual cooperation as well as paving the way for trade banks with the aim of facilitating offer a variety of banking services the such as letters of credit, bank guarantees and treasury operations and at the end of talks with his Iraqi counterpart, banking cooperation document was signed.
Drsnd mentioned on the national connecting the switch to the use of bank cards had been stressed by pilgrims and travelers. As well as to monitor and ensure the proper execution of the Agreement, the parties agreed to a permanent committee under the title "Bank of Iran-Iraq Joint Committee" be formed.
It is now two Iranian banks and a joint bank operating in Iraq.
LoveThisFamily: Ban Ki-moon and Director of the International Monetary Fund and attend the parliament session on Saturday
He wrote in: March 22, 2016
He said the House of Representatives decision of Imad Youkhana, Tuesday, that the Secretary-General of the United Nations Ban Ki-moon and the head of the International Monetary Fund, Christine Lagarde, will attend the Council session to be held on Saturday, describing the visit as "historic."
Said Youkhana in a press statement that "the House of Representatives hearing that will be held next Saturday will witness the presence of the Secretary General of the United Nations Ban Ki-moon and the head of the International Monetary Fund Christine Lagarde," explaining that "the aim of the visit and to attend the meeting is to discuss political, security and economic situation in Iraq and the region
He added that "it is possible that Iraq Asthsal good amounts during the visit, from the fund to support the Iraqi economy, as well as displaced people and the reconstruction of areas affected by terrorism", calling at the same time the visit as "historic."
Don961: Currency swaps hey .......
“Other countries that did not even face our problems benefited from these agreements and thereby freed themselves from the tentacles of the dollar. Since foreign currencies are expected to gain against the rial in future, we ought to increase our leverage when it comes to money transactions.”.....
Apparently they think these currencies will increase in value internationally ..... some time in the future ....hint hint
Sheila: The date says July 5th of 2015 is that interesting that Iraq signed agreement last year.
Walkingstick: IRAN: SNIPPET..B/R Sunday, July 5, 2015
Call for Undertaking Currency Swap Deals
Former governor of the Central Bank of Iran, Ebrahim Sheibani, has urged government officials to switch to transactions in national currencies by signing currency swap agreements with other nations.
Local currency trade can end the nation’s dependence on US dollar for commodity exchange and eliminate trade barriers were imposed on Iran by the United States and United Nations.
In January, Iran’s central bank said it had suspended the use of US dollar in foreign transactions and was working on bilateral currency swap deals. This was followed by Moscow and Tehran’s announcement that they were going to set up a joint bank account for transactions in national currencies, such as in food trade.
Sheibani complained also about Iran’s foray into currency swap deals and said, “Other countries that did not even face our problems benefited from these agreements and thereby freed themselves from the tentacles of the dollar. Since foreign currencies are expected to gain against the rial in future, we ought to increase our leverage when it comes to money transactions.”
The official pointed to the recent move by CBI to sign agreements with Turkey, Russia and Iraq, saying the bank should aim to establish similar agreements with other nations.
Short Url : http://financialtribune.com/ar.....swap-deals
Walkingstick: Oil Minister Kurdish officials are calling for a return to Baghdad, Erbil agreement «with some changes»
Government reforms include passing the oil and gas law in parliament
Oil Minister Kurdish officials are calling for a return to Baghdad, Erbil «agreement «with some changes Government reforms include passing the oil and gas law in parliament
Baghdad , Mohammed Hadi in the daily column , which is published in the "world", highlighted Oil Minister Adel Abdul Mahdi, the light on the oil agreement between Baghdad and Erbil, suggesting one of two options , "either back to the agreement of the race, and freeing it from the gaps that punctuated in 2015, and this is a quick fix .
" he said , adding that the other option is "going to a new agreement , " but he noted that " the situation is ".sensitive and needs to be resolved and efforts seriously According to the oil and energy Committee, said the differences between the parties "can not be solved only through the approval of the oil law," likely resubmit from the .government to the parliament under the new reform package but the powers Union believes that the financial crisis , "impede the law 's passage in the House of Representatives , " and called for "the mediation of an external third party to ".resolve disputes between Baghdad and Erbil according to the oil minister, the "Baghdad is the closest to the " .interests of Kurdistan forces Union,
says that" the region is still thinking about independence, and that makes a deal with the federal " .government difficult in the opinion of experts in the oil issue, to reach a consensus on a specific draft law of oil and gas" in light of falling prices, it is almost "impossible "he said , adding that hinders another concerning" interference by politicians oil and energy sector. "
the Baghdad government has agreed with the province on the extradition of at least 250 thousand barrels of oil per day to Baghdad,
for the purpose of export, in addition to 300,000 barrels of Kirkuk oilfields to become the quantity exported across the North 550,000 barrels a day, after reaching the Kurdish delegation headed by Nechirvan Barzani with the Iraqi government, in September 2014, an agreement on the region 's share in the budget and export of oil, but that the .agreement did not last long the province stopped in June 2015 for delivery oil to the national marketing company SOMO, and began exporting oil away from the center, via the Ceyhan, after it was Kurdistan .received center amounts without agreed he called on the oil minister Adel Abdul Mahdi, yesterday, in the daily column , which is published in the "world", to " restore the previous agreement with the province or make another new agreement on oil draft budget , "attributing the collapse to a decline in global oil prices. He added that "oil relationship between the federal government and the province is relatively impassable for the first half of 2015 and is impassable for the rest of the year."
Abdul Mahdi , and pointed out that " the budget agreement includes delivery Sumo 550,000 barrels per day at Ceyhan in exchange for the ".payment of the government 's share of 17% He explained that "prices had remained high rates of 2014, or even at rates of $ 60 a barrel for the past agreement forward, despite the differences, but price collapse to make money in Baghdad are very scarce, and the need of the province of funds fatal necessity , "noting that" the region appeared to reduce the amount of oil that delivers them to Baghdad, and dropped the 17% of the money received by Baghdad to Arbil, to cut off ." completely the two in September 2015 He said Abdul Mahdi, " the parliament 's vote, including the Kurdish bloc on the oil deal was thought to begin Sumo receipt of the prescribed quantities, and that Baghdad would begin to pay 17% of the interview, but he did not get none of that, not been serious negotiations , "
pointing out that " the pumping stopped due to sabotage , the ministry has taken a public decision to stop the North oil company delivered any additional amounts are not conducted an interview " .compromises said Abdul Mahdi said" sensitive and complicated situation and threatens to negative developments and the need to find solutions and endeavors seriously, and we have two choices : Go to the agreement the oil budget and strive to improve it in the light of the gaps that punctuated in 2015 , a rapid and direct solution is agreed upon, or go for a new agreement in " .
accordance with the Constitution and the law He noted that" everything that arises from the differences and calls for partial independence or total, the province emphasizes different Pityarath more than ever that Baghdad is closer to achieving his interests and he took an extraordinary effort in the fight against "Daash" in sheltering millions of displaced people, and he is facing a severe financial crisis , "explaining that" it is our duty as officials and citizens to make every effort to achieve the highest level of the interests of " .all Iraqis the oil minister said earlier "
the absence of an oil law has caused a big gap is not on the federal government and the Kurdistan region level, but with all the provinces , " stressing that "there is a need to enact the oil and gas law, which does not know when it will pass." He said Abdul Mahdi, that "each party interprets Article 111 of the Constitution , ".according to his vision and the benefits that can Asthsalha In this context, he said the Commission on oil and energy parliamentary member Tariq friend told the "world", that " the federal government had withdrawn a draft law oil and gas from the parliament, and that draft still ranged from the government , "he said , adding that his committee is waiting to send the law" under the new reforms to the Prime Minister " .
package revealed a friend about" the movements between the political blocs to speed up the passage of the law , "pointing out that the sponsor to end the " differences between Baghdad and Erbil, and contribute to solving part of the economic problem " .experienced by the center and the region and see a friend that the oil and energy sector also needs to be legislation , " national oil Company Act tours licenses and a lot of things to facilitate the sector 's issues. " And Hisham warns in an interview for " the world" that " the region 's oil policy is quite different from the policy of the center , " he said , " the intervention of politicians oil and energy sector, negatively affect the negotiations between Baghdad and Erbil."
He notes Hisham oil agreement between the parties, calling for activating it again until the approval of the oil law, adding that " the lack of consensus in the field of oil increases the loss of the country, and hampering the development plans in the fields and in particular in the disputed areas." Furthermore, says Member of Parliament Ahmed al Jarba in an interview for " The World", on Tuesday, said the financial crisis threatens the law was passed. He points out that "decoding node between Baghdad and Erbil in the oil field, you need an agreement between the heads of political Altkl, and the intervention by the three international Kalmnzmat , " pointing out that " the province independence of thinking makes it ".difficult to reach an agreement with Baghdad