Post From Dinar Updates
Chat Room Excerpts & Highlights
RCookie & Mr White News Time 8-5-16 Part 1 of 2
Hutch says():OK WE ARE GOING TO DO AS WE DID ON OUR MONDAY NIGHT CALL AND BRING IN THE TOPICS OF WHAT WE WILL BE TALKING ABOUT ON THE CALL. PLEASE HAVE YOUR QUESTIONS READY,.....
WE WILL ALSO COVER SOMETHINGS THAT HAVE BEEN BROUGHT INTO THE ROOM THAT HAVE MISLEAD SOME HERE AND WILL TRY AND HELP THOSE GET CLARITY.... WE HOPE.
Hutch says():OK HERE ARE TONIGHTS TOPICS
Author: Yasser incumbent vv03/08/2016 0:00 Received a seminar « the introduction of the electronic currency trading and cash deal» the economic importance of direct and semantic interest group of business and finance experts and economists and interacted with the event organized by the progress of policy development institute
and as usual in the selection of sensitive topics related to seek the requirements of economic reform efforts by the Central Bank of Iraq on the path of preparation to announce the date of implementation of this advanced program in the world for the daily market transactions where the Governor of the Central Bank announced the date of the implementation of the program during 2017.
Central Bank for its part in full readiness, what the expected challenges facing this ambitious program?
it is useful to note that the success of implementation depends on the arms of the main in Alo'hai banks and financial companies implementation, how many are willing Central subsidy to the success of his ambition?
eight this exact system which envisaged the central bank in dealing with the risks of relying on international companies working advanced international standards, how much time you need beneficiaries of government departments and institutions to respond to and interact with this program should lead to the implementation to the fullest.
as this system has the property of not less important than its predecessors and related leave dealing Balmachi or instruments and carry cash and risks of theft and damage to the large use also allow the citizen Banhaz dealings with all the comfort and pleasure without Reviews and grim Mngsh hustle and the expiration of the time things routine.
This only benefits deserve attention certainly so I said in the vertical Introduction The seminar drew the attention of the elites and specialists, what is required to ensure the success of this program?
Starting to be deepening the culture of dealing electronic currency and the central bank and the ministries the task of civil society organizations of an economic issue, especially the Association of Banks.,
Said the biggest economic task borne by media devices via deepen this culture either pens or Alvdhayah programs and all media outlets believe in the importance of rescuing the economy as well as the lack of adoption of the statements that are trying to put a spoke in the wheel except that there is no possibility of implementation thanks to the efforts of the good.
Read More :http://www.dinarupdates.com/showthread.php?38173-E-Currency-8-3
Hutch says():NUMBER 2
Hutch says():Dinar on raising the money supply in the size of banks
Author: Yasser incumbent 03/08/2016 0:00 BAGHDAD Shokran Fatlawi invited experts and interested in the financial and economic affairs to the need to speed up the issuance of e - dinar and the application of modern systems in the business dealings because of its positive effects on the overall economic life and development of the reality of the banking sector in particular it provides pre - financial sources of the state by increasing the money supply falling in the banking system.
This came during a seminar organized by the progress of the development policies of the Institute and attended the »morning» under the title « the introduction of the electronic currency trading and cash deal: economic importance and implications of direct» presence of the Governor of the Central Bank of Iraq d.
On the Keywords and head of the Iraqi National Business Council David Abdul Zayer and general manager of the Rafidain Bank Khawla al - Asadi and a large number of businessmen and the economy.
Electronic system initiated the seminar with a speech by Director of the Institute d. Mehdi al - Hafez between which the importance of subjecting the currency to the electronic system, because of its great economic goals of serving the country 's economy,
pointing out that the talk about a banking reform exists without reaching concrete results , adding that the country today desperately need to hold the development of the banking sector from either the government or the Ahli according means and mechanisms reform , a subject the currency to the electronic system.
For his part , Governor of the Central Bank of Iraq d. On the Keywords, the importance of the payments system it represents a pillar of the banking and financial sector, indicating that the system consists of the first two phases related to the large total transactions between banks and companies, while the second phase of the payment system consisting retail pointing out that the role of the central bank carry out surveillance and supervision.
He Keywords that the application of electronic transactions requires work to provide the infrastructure required, including the legal and regulatory structure governing the banking services to all the details of the system, noting that the central bank has to conduct a comprehensive review of the laws of banking and regulations in force and drafting an initial required enacted in this area of legislation , let alone complete issuing electronic payment system and controls subscribe to the infrastructure of the payment system retail.
cash trading at the same level between the Keywords that the percentage of beneficiaries and users in the country does not exceed 10 percent and 8 percent of them are simple operations such as receiving salary in what constitutes only 2 percent of those who use smart cards, a percentage low , he said,
pointing out that trends in will help expand financial inclusion through the entry of more citizens to these systems and thus benefit from the monetary mass in their possession, which amounts to 77 percent outside the system , as well as get rid of the cash circulation problems.
paperwork system promised chairman of the board National business Iraqi David Abdul Zayer followed the banking system from the old systems, which work out over 100 years ago , a paper - based system at a time when the world arrived in style Allankadi indicating that the e - dinar trading would provide prior financial sources for the government as it encourages the Aledjarobzlk money chunky turn into dinars electronic enjoying high flexibility in handling or selling.
He pointed to the existence of a rate of 77 percent of the national currency outside the banking system and the presence of 23 percent only, moves within the system of government deposits Mastday need for the introduction of the electronic currency trading bank.
Currency market and called on the central bank to the registration of the Iraqi dinar in the foreign exchange market, although the country It has backed federally giant infrastructure to would block the project handle mail,
calling to the importance of benefiting from the Kuwaiti experience in this area after it was forming a joint stock company for the management of electronic trading and issuing smart cards file, stressing the need for the local currency replace, especially the category of (25) thousand dinars result smuggled out to ensure its return and subdue their dealers to the new standards.
Hutch says():Private banks are working with capitals slim
Author: Yasser incumbent bb03/08/2016 0:00 BAGHDAD - Imad emirate between economic academic d. Awad Fadhil Ismail, said the failure of commercial banks to attract financial surpluses of the private sector explains the preference of savers government depository institutions on those special and this can be given to two reasons : the lack of protection for depositors in private banks in exchange warranty on deposits in state banks.
He stressed in an interview for »Sabah »the need for legislative action to establish a foundation or fund meant to guarantee private deposits at private banks to achieve parity with government - owned banks and equal ability to compete in terms of modern private commercial banks and the lack of public adopt to deal with it.
He said that the predominance of savings deposits with government banks do not reflect excellence the innovative quality of the banking transaction that provided to its customers as much as reflecting a sense of psychological and financial services may not be entirely justified, embodied by the fear of the loss of the money deposited with the Aadaih institutions do not provide a system to hedge against the loss of savings in case the integrity of its financial position to market and operational risks.
He the most prominent reasons for the control of government banks on more than 88 percent of the deposits of the commercial banking system to the restrictions imposed by the government and its ministries and public institutions on their operations with private banks.
He said Ismail said economic activity overall mainly depends on government business fueled by oil resource, the financing of these business leads, through the channel of the state budget, to the accumulation of government funds with its banks,
which means that the change in government revenue is reflected mostly in the central bank 's balance sheet liabilities of First in State - owned banks budget liabilities when the government financed its administrative expenses and operational development, more than from bank deposits
which in turn raises their liquidity, and as long as the cash position of a strong government because of its reliance on huge oil revenues, the effects of internal financing government spending must be hurt in the end are cash deposits to the state of the banking system.
He continued, marked by savings deposits in the structure of the banking mediation devices phenomena first rule of a clear government banks on the overall savings deposits in terms of the total deposits, savings and fixed deposits in state banks amounted to 42 trillion dinars in 2010 at a rate of 88 percent of the total volume of deposits in savings and then rose to 53 percent trillion dinars in 2012 at a rate of 86 percent compared to that share of private commercial banks was only 11 percent of all savings deposits in the commercial banking system in 2010 and 2012 respectively
Parliamentary Finance adopts a new law to organize the work of government banks
Parliamentary Finance Committee unveiled on Thursday a new law to regulate the work of government banks, is done within the Commission. As it pointed out that this law will cancel all previous laws on banks.
The committee member said Ahmed Sarhan, L / balance News /, that "there is a special law the government banks, and that this law is under study and discussion in the Finance Committee."
Ahmed said, "This law will cancel all previous laws on banks, and will have a uniform law of this law."
He continued, "The Committee began the first reading of the law until now has not been completed, being composed of 22 illegal substance was writing several observations around."
He pointed to a committee member, that "We asked the managers of banks to provide their comments on the law," noting that "the Commission is working on a new version out by law and legal texts serve the banking of movement for citizens and the government."
Ahmed stressed that "next week, will also be addressed with this law within the Commission, for the purpose of accelerating done," .anthy