Millionday News 6/20/14 Part 1
Welcome To Friday Night News Time With Millionday!
[millionday] ok here we go - first let me thank you all for the respect and let us get you in order with ??? smile
[millionday] also let me say this -- of course we are going to talk about the security issues in Iraq but first we are going to discuss the economic news and changes within the country
millionday] so let me tell you we are not going to ignore the attacks -- we are just beginning with the economic news
Based on this concept has expressed governor of Banks in Lebanon Riad Salameh " a site that parallels the central bank governor "in terms of the management of the monetary authorities in the two countries, the desire of his country's cooperation with the Central Bank of Iraq in the fields of banking different.
[millionday] note -- they are developing a point that allows the Iraqi and Lebanon banks to share info and train in areas --
[millionday] Safety had addressed the businessmen participating in the forum, the Iraqi banking Lebanese organized by a group of Economics and Business on one of the halls of the Movenpick Hotel Beirut recently said, we look forward to cooperating with the CBI in the areas of banking profession after taking Lebanese banks discreet way to work in Baghdad,
which is in continuous expansion because of the represented capital market Iraqi promising of sobriety and the wealth of great investment opportunities.
drew the safety of the two issues in very important in the field of cooperation between the two countries, where he focused on the need to include this relationship for accuracy in banking transactions through banking supervision stringent
[millionday] note -- Iraq has promised that Lebanon will financially benefit largely with their help that they are giving Iraqi banks --- this is for accuracy and trained professionals
millionday] The second issue is the fight against money laundering as a basis for dealing with this issue is important in relationships. , and hinted that work with these conditions but requires the establishment of banks and branches depending on the standards adopted and accepted by the monetary authorities in both countries to be dealt with properly and serve the economy and the banking sector in the two countries. ,
and pointed out that the critical situation faced by the Arab countries because of the security situation and political instability, and said that we are interested in addressing the difficulties of the banking business in the shade of through the adoption and implementation of international standards
[millionday] in banking and especially standards "Basel 3" pointing out that they no "standards" exceeded the required internationally but must adhere to in order to establish confidence in dealing with the banks, whether in Lebanon or in Iraq.
confirmed governor of Banks in Lebanon Riad Salameh on another matter no less important than its predecessors the need to improve the relationship between banks and their customers to achieve stability Altzlafa on the one hand and to ensure that banking transactions other than the second Kalajdaat and withdrawals and facilities to other services offered by banks to customers.
[millionday] note -- they are stating that in order for this to work and be successful -- this team like atmosphere -- they have to make certain that all banks are basel compliant and this is Iraq and Lebanon banks to establish compliance internationally and consistants --
[millionday] note -- they also need insurance for all transactions and monies --
[millionday] told the designated driver safety in his message to the participants is to reveal the decision of the Central Bank of Lebanon the establishment of a unit for consumer protection arises when the Oversight Committee based its work on a resolution of the Central Council and aims to make sure that banks are ready to secure transparency and governance, as dealing equally with all customers.
Perhaps it is clear that these measures resulting from the long experience has led to the stability of Lebanon in cash and the lira stable at the exchange rate of a clear and consistent, despite the situation and rumors that mean that the monetary authorities is that possesses the key to the solution to all financial crises, while noting the safety of that in interest rates applicable are realistic and reflect the balances in the market,
[millionday] note -- the results that Lebanon have seen is very positive as they have not only seen stability but the consumers have also been given transparency and a stable exchange rate -- so this is very encouraging for Iraq banking and currency and service market as well
[millionday] stressing the keenness of Lebanon's central bank to provide liquidity to finance private and public benefits of the current with not allowing for the development of liquidity to threaten price stability. order that we may let's urge the Iraqi banking sector to the example of the example of this experience saved by Lebanon's economy as the monetary and fiscal authorities are also invited to take advantage of any "experience" and the good he did CBI openness to Lebanon Her experience and talent and chosen to organize this event for a group of Economics and Business, which had been provided the right atmosphere for success.
[millionday] so as we see here they are very excited and are willing to share in the great economic gain that is coming for Iraq through the training that has been given by Lebanon and they believe that the meeting coming up for the verification will lead to a report of compliance and also great partnership in banking that all will benefit from -- this is very exciting for all and for the many areas that Lebanon even banks in much less the great reform
[ROBINREDHED] its kinda long can u summarize this?
[cookie] I think I missed, when is the meeting?
millionday] the banks that operate in Iraq are putting banks in Iraq and have many already so now they are also helping the bankers there to bring themselves forward by helping them by being available to them for any training and questions and are having a place that Iraqi bankers can go to get help and learn so their banks are compliant and successful ---
the iraqi banks are not going to have buildings outside of iraq right now but lebanon does so they will benefit by that because anything that Iraq can not cover because of that -- Lebanon has said they will cover it
[millionday] therefore -- Iraq banking will be able to move forward globally much easier with Lebanon helping them with international banking with Lebanon help than without because Iraq does not have Iraqi banks outside the country right now or i should say -- yet
[millionday] so anything Iraq cant do -- Lebanon said they will cover for them --- this is great and minimizes the huge rush that sometimes takes time or produces mistakes -- so all the services will be covered that are needed to do international banking through the stable Lebanon banks that do have locations outside in the globe --
[millionday] make sense ?
[ROBINREDHED] yes thank u
millionday] here we go
[millionday] Citigroup Inc (>> Citigroup Inc) named James Bindler the bank's global head of foreign exchange, succeeding Jeff Feig, according to an internal memo. (Reuters) - Citigroup Inc (>> Citigroup Inc) named James Bindler the bank's global head of foreign exchange, succeeding Jeff Feig, according to an internal memo. Bindler will be responsible for trading, prime brokerage, e-commerce and corporate FX Sales among other things, according to the memo seen by Reuters.
[millionday] He is currently trading and global head of foreign exchange options for central and eastern Europe, the Middle East and Africa.
Feig will join Fortress Investment Group LLC (>> Fortress Investment Group LLC) as a portfolio manager, Reuters reported earlier this week. He will be the co-chief investment officer of Fortress Macro Fund. Feig's departure follows that of his former boss, Anil Prasad, who left the company in February.
[millionday] so the head of Citigroup in the middle east is Bindler, James and he will be the head of foreign exchange -- very interesting
[millionday] anyone here friends or related maybe --? know him from school ? lol just kidding smile
[millionday] here is a WHOOOPOW
[millionday] Iraq represents economic weight in the region because of the entry of a large number of major international companies for the reconstruction of the infrastructure as well as he represents his momentum financially extensions in the region as a whole and the Pacific Regional in particular.
And on the question about the impact of events in Iraq in the Arab stock markets, which have been declining and losses, according to international reports, said economic expert, Dr. appearance of Mohammed Salehfa press statement seen by (newspaper rectitude):
Iraq since the eighties of the last century has been associated with an economy abroad for worn out situation where as a result of war and the blockade is Born adoption of its economy to the outside.
[millionday] note -- the reason the isx has not grown as it will is the many years of war and the previous blockade of its economy to the outside
[millionday] He added that the delay in the development process in the country and increase the supply of oil revenues and reflected on what the private sector external momentum Born financially Iraqis have extensions in the region through trade and investment interests. He pointed out that these interests have been affected in the recent events, especially since some of the neighboring countries,