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RE: Delta And Franks Posts Link
Clare: POSTING BR...FOR ANGEL-1
Frank and Delta, I am extremely pleased with what was released today.
IMO it was not an education piece but an implementation piece. A new system, a new department and a new day is upON Iraq today.
I hope the family clearly understands what was released publicly. If not then I hope they walk away with at least this takeaway.... today we went from education to implementation.
MilitiaMan: These three articles should have everyone smiling large.. Samson, Delta and all News Hounds con grats! Fine Job! ~ imo ~ MM
The main focus for me is the system is in place and ready to go at a moments notice now.
Al Rahsid has been in an all "check mode"! Ready and in place. The Iraqi Trade Bank opening a Branch in Saudi Arabia today say they will begin banking operations shortly. All in Check Mode.. imo
Both are high tech and in compliance with international standards. They have all the advanced electronic equipment and software with the speed they need to do trading.
Tomorrow is the 19th. We all read back on March 08, 2019 at the closing bell of the NASDAQ, they show cased the ISX. International Women's Day!
Well the NASDAQ, has a 10 year anniversary tomorrow. Banks are open, however, markets are closed for Good Friday..
Why do I bring that up? Because they show cased in on a Friday, and did it in a fashion that is noted in trading arenas, as being under cover. Tell people what your doing with as little attention as possible. Closing bell, everyone is off getting a cab or a cold beer.. lol
Today was also a day that is where the Citizens were told on 04/08/2019 that they were to get paid electronically thorough the 18th of April.. Yep.. Today.
Same day the ribbon cutting was done in SA at the ITB with The Prime Minister of Iraq, the Finance Minister and the CBI Governor. Why?
They did it for to show everyone they are ready to go. Then same day we get the totality of it. They are telling us they have record amount of deposits from the Association of Private Banks.. They have photos of stacks of money with people smiling, imo.
Then they go on to show they have 250, 500, 1,000s... Why? We already know that?
Well they say they have all groups. All groups means to me that they literally have all cash from ALL GROUPS and that includes the new smalls as change for the larger notes, imo. Just like the FA #81 #93 describes imo.. They are easy to trade and acceptable, thus, the record deposits.. ~ Oh ya.. This is looking so good.. ~ imo.
Now don't forget that Parliaments are comming to town Saturday.. Sunday has been called as a Holiday.. Stock markets open next week.. So lets see what happens.
I wouldn't be surprised with them telling us they have all groups, we see the smalls in the coming days or sooner.. jmtc.. ! ~ MM
Al Rashid announces the implementation of the comprehensive banking system in its branches
18th April, 2019
Al-Rasheed Bank announced on Thursday the implementation of the comprehensive banking system in its branches, indicating that the system is in place in international banks.
"The bank has signed a special contract for the comprehensive banking system, which will be applied in its branches," the bank's information office said in a statement received by Alsumaria News.
He added that "the implementation of this system will achieve speed and ease and away from routine," noting that "this system is in place in international banks and will depend on the use of modern technology in banking."
And the comprehensive banking system is the use of advanced electronic equipment and software and use in all transactions of the bank and provide various banking services to its customers. LINK
The Iraqi Trade Bank opens its first branch in Saudi Arabia
18th April, 2019
The Deputy Prime Minister and Minister of Finance, Fuad Hussein, opened Thursday the first branch of the Iraqi Bank for Trade in the Kingdom of Saudi Arabia in the presence of the Governor of the Saudi Monetary Agency Ahmad Al-Khulaifi.
The move comes in line with the Bank's plan to expand its business both regionally and globally.
The opening of the bank's first branch outside Iraq is part of the activation and revitalization of the movement and banking and commercial activity at the regional and international levels. The new branch will take the Saudi capital Riyadh, the statement said.
The move supports the Bank's efforts towards further growth and expansion and underscores the Bank's commitment to the implementation of international compliance standards.
The new branch will begin banking and financial operations later within a short period after completion of the proceedings.
The expansion of the Iraqi Trade Bank's business will provide an opportunity to expand business and investment and contribute to building a network of banking relationships with major institutions in the financial and banking sectors in Saudi Arabia.
The Iraqi government is working on several projects in the Kingdom of Saudi Arabia, including a wide range of fields, aimed at developing and strengthening relations between the two countries.
"The opening of the bank's first branch outside Iraq is a major step forward in strengthening our relationship with the Saudi government," said Fouad Hussein, Deputy Prime Minister and Minister of Finance of Iraq.
The BTI opened a representative office in Abu Dhabi, the capital of the UAE at the end of 2017, and has successfully made significant strides in achieving its strategic objectives. The Bank of Iraq operates in accordance with its long-term strategic plan for the year 2021, and plays a fundamental and highly influential role in the process of reconstruction and sustained growth of the economy in Iraq 2021. LINK
Central Bank Basra branch introduces a window to provide small cash categories
The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars.
The head of the Central Bank of Iraq Branch of Basra in a press statement briefed by the "Covenant News", said that in view of the small groups of the Iraqi currency traded in the markets, the Iraqi Central Bank branch in Basra sought to provide these quantities for the purpose of facilitating the deal between a single trader And the citizen. He stressed that the provision of cash from all groups will facilitate the sale and purchase between citizens and owners of shops.
Al-Fahd added that the distribution of small categories through bank withdrawals, which are delivered to citizens through personal accounts and salaries will revive the local market and will be in the interest of the national economy and turnover of the wheel of monetary movement.
It is noteworthy that small groups have been implemented from the market significantly recently, and this gesture re-ease of dealing between citizens.
FA #93 (final article)
"Al-Taan explained that facing such a problem requires studying the situation of the market and finding a solution either by distributing small cash categories in the salaries of employees or printing small currencies that are easy to trade, while taking advantage of damaged currencies and turning them into dough and using them later.
The small categories are very important because they are easy to trade among citizens Stability of the economy.
MilitiaMan: Some tid bits to go along with things.. imo ! ~ MM
"Foreign exchange reserves are assets held on reserve by a central bank in foreign currencies, which can include bonds, treasury bills and other government securities. ...
Economists suggest that it's best to hold foreign exchange reserves in a currency that is not directly connected to the country's own currency."
"There are seven reasons why banks hold reserves. The most important reason is to manage their currencies' values"
"Banks are increasing their holdings of euro-denominated assets, such as high-quality corporate bonds.
That continued despite the eurozone crisis. They'll also hold gold and special drawing rights.
A third asset is any reserve balances they've deposited with the International Monetary Fund.
"The central bank supplies foreign currency to keep markets steady. It also buys the local currency to support its value and prevent inflation. This reassures foreign investors, who return to the economy.
A fourth reason is to provide confidence. The central bank assures foreign investors that it's ready to take action to protect their investments. It will also prevent a sudden flight to safety and loss of capital for the country. In that way, a strong position in foreign currency reserves can prevent economic crises caused when an event triggers a flight to safety.
Fifth, reserves are always needed to make sure a country will meet its external obligations. These include international payment obligations, including sovereign and commercial debts. They also include financing of imports and the ability to absorb any unexpected capital movements.
Sixth, some countries use their reserves to fund sectors, such as infrastructure. China, for instance, has used part of its forex reserves for recapitalizing some of its state-owned banks.
Seventh, most central banks want to boost returns without compromising safety.
They know the best way to do that is to diversify their portfolios. They'll often hold gold and other safe, interest-bearing investments."
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