EHankins: WHAT'S THE CBI MEETING ABOUT?
I BELIEVE THE CBI HAS A RATE IN THE BUCKET. AND LIKE BLINKSTER SAID THEY NEED TO BRING THE HEAD OF THE CBI DR. SHABIBI TO THE FRONT OF THE CONFERENCE TABLE AND GIVE HIM HIS WELL DESERVED CHAIR OF AUTHORITY.
AND AS BLINKSTER SAID THE PLACEMENT OF THE LOWER DENOMINATIONS IN THE APPROPRIATE BANKS AND THEIR QUICK DISTRIBUTION AND EVEN THE ANNOUNCEMENT OF THEIR COMING OR ARRIVAL.
I'M NOT AWARE OF WHAT THEY WOULD BE MEETING ABOUT OTHER THAN WHAT I'VE LEARNED AS THE OBVIOUS HERE AT KTFA.
I'M SURE MANY MANY MANY COUNTRIES AND THE IRAQI CITIZENS ARE SCREAMING GET ER DONE AND THE PRESSURE IS ON INDEED AROUND THE CBI TABLE.
66gto: ....... I believe the cbi is having meeting because they are going to upgrade their toilet paper, new and improved... We have been waiting for uncle S to be announced but now uncle Frank say's that might not happen, not needed, but is still the big dog behind the seen. LD's could be moving if not in place. GOI keeping eye on LD's as CBI keeping eye on GOI, and I team keeping eye on CBI, I seen her doing it today………..Gitty up GTO
Blinkster: LET'S NOT FORGET THAT IRAQ CAME BACK FROM THE MEETING IN JORDAN...WITH A RATE!!!!!
Goldenbear: Are they celebrating being article 8 compliance, before the announcement to the world. Are they planning the announcement of Dr S return, I would think he would be there at the end. I'm sure the LD's are quietly position themselves for the rate announcement. Thanks Frank for all the updates!
AARON: If asking for everyone's 2¢ on the subject of today's CBI Meeting with their director level executive's present, I'll bite...
First of all realize that the central bank is a private company (organization) That is independent from the Government. As an independent company (organization) they don't have to follow the same structure as the Government does.
What I mean by this is that if they want to implement a new law or procedure within the CBI, the process will be different. I am not sure of the specifics, but for instance -- they may not have to have a formal vote.... The Governor may have the authority to implement new procedures without a vote, or maybe with the authorization of a key few executives... again I don't know the specifics, but am shooting out an example...
Another thing to realize is that if they want to move fast in a new direction, they may not be encumbered by a formal voting process like the Government is...
(Speedy implementation process may be possible when needed)(Again, a guess on my part)
If the CBI had a mandate, a law, or new procedure that they wanted to implement either in the main CBI branch, or even in all branches...
The CBI acting Governor, in my opinion, could just have a quick informal meeting, make a few calls, or have a group conference (or video) call to get a quick consensus and dictate a new precedence to be implemented.
However, by calling in all the director level executives, you can surmise (again in my opinion) that:
~ A) The meeting is important
~ B) The meeting needs a certain level of privacy (or secrecy)
~ C) The outcome usually affects the Organization corporate wide and not just locally
~ D) Needs a higher level of agreement than what one officer can dictate
~ E) Usually requires a HIGH DEGREE OF COORDINATION
~ F) Usually has a specific TIME WINDOW associated with it
Am I going to guess what the specifics are of that meeting..???
No way..??? I have no friends (or ears) in any of those circles...
But from my past limited experience in upper management of a private company, I feel fairly confident that the 5 or 6 generalizations above are accurate and that should be enough to get us EXCITED..!!!
I'm sure everyone has heard what the difference is between a "DREAM" and a "GOAL"
A "DREAM" is a hope of a positive expectation for sometime in the future
A "GOAL" is a DREAM with a TIMELINE Associated with it...
I'm hoping that this meeting today has moved from a DREAM to a GOAL –Aaron
Frank26: DANG !!! You're Good !!!
Aggiedad77: Good Morning Family…..WOW
You guys have responded very well from what was posted last night
So Frank says that we were wrong about the LD's.....hmmmmm
Some of you have touched on that already....maybe they have been shifted already.....perhaps that was a large part of what this meeting was about....to let these Directors know what they were getting and to answer questions they may have about how to deal with them....how SECURITY will be beefed up until they are released.....which value they should be kept in.....who knows.
Aaron....I wish to reach out to you.....wonderful answer......I too have stepped in those corporate shoes and agree with your analogy as well....very astute sir......thank you.
So let me theorize with you for a second Family......let's say that Dr. Shabibi may stay off center stage......and yes as someone mentioned Allak is on the most wanted list.....so he is not likely to stay much longer.....they need a replacement.....could this meeting have been to strategize about who that might be.....
Let me throw a name into the hat.....he is extremely close to Dr. Shabibi as well as PM Abadi....that is Dr. Saleh....remember back to 2012 and before that.....he was Dr. Shabibi's second in command at the CBI and he has been PM Abadi's main economic advisor since he stepped into office.....Frank may not recall this but I mentioned to him quite a while ago that this "Dr. S" may be the next new governor of the CBI and I still am thinking that is a hot possibility......at least a strong maybe.....IMO.
Family I am so impressed with all of your answers......finesse.....and thoughtfulness in all your responses......your efforts are greatly appreciated.....and with the morsels from Frank this morning.....one has to wonder what will be brought to us on tomorrow's CC.....hope we see you there.
Sounds to me as thought things are getting laser focused in Iraq these last few days of February......Let it Be.....as they choose to speak Words of Wisdom.....Let it Be.
The BEST is yet to come. Aloha Randy
Naphtali: Just my 2 cents......SUBSTANTIAL CHANGES.....???????..
i AM hoping this means that the CHANGES TO GOVERNMENT = Shabibi hit the button
not returning to Quota is referring to not returning to the program rate of 1182
WE are With the Representation = Dr S and newly positioned government leaders with Abadi......
Saturday .. Abadi in parliament to announce a "substantial" changes in the government
HERE IT SPEAKS THAT NOT "RETURNING TO THE QUOTA SYSTEM" AND "WE ARE WITH THE REPRESENTATION"
Urgent Abadi: The government has completed 90% of the political agreement
History of edits:: 02.20.2016 16:05 • 1
[Wayne - Baghdad]
Prime Minister Haider al-Abadi, said the government has completed 90% of the paragraphs of the political agreement.
He hosted by the Chamber of Deputies session today, "We do not want a return to the quota system and we are with the representation of the components, calling for a political consensus to achieve a fundamental change," followed
Billuke: Unidentified gunmen steal 50 million dinars in eastern Baghdad
By Amre Sarhan -Feb 21, 2016
(IraqiNews.com) Baghdad – A source in the Iraqi police said on Saturday, that gunmen stole 50 million dinars from the owner of a money exchange shop in eastern Baghdad.
The source, who requested anonymity, reported for IraqiNews.com, “This evening, unidentified gunmen intercepted a car driven by the the owner of a money exchange shop in Jumila area and stole 50 million dinars that was in his possession.”
The source added, “A security force carried out a search campaign for the gunmen.”
http://www.iraqinews.com/iraq-war/unide ... um=twitter
Walkingstick: VIETNAM Last update 07:30 | 20/02/2016 0
Banks to raise capital to meet Basel II standards
VietNamNet Bridge – Large local banks, which are chosen by the State Bank of Viet Nam (SBV) to apply Basel II governance standards, are trying to increase capital to meet the standards.
SBV, BIDV, Basel II standards, local banks, Vietnam economy, Vietnamnet bridge, English news about Vietnam, Vietnam news, news about Vietnam, English news, Vietnamnet news, latest news on Vietnam, Vietnam
To meet the capital demand, Vietinbank would have to continuously issue more bonds. Last year, the bank successfully issued VND8 trillion ($365.29 million) in secondary bonds to supplement its capital. — Photo baocongthuong
Under the SBV's plan, ten commercial banks will officially apply international bank management standards in accordance with Basel II governance standards from this month.
The selected banks are the biggest and most prestigious ones in Viet Nam, and they include the Bank for Investment and Development of Viet Nam (BIDV), Viet Nam Bank for Industry and Trade (VietinBank), Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank), and Viet Nam Technological and Commercial Joint Stock Bank
(Techcombank), in addition to Southeast Asia Commercial Joint Stock Bank (ACB), Viet Nam Prosperity Bank (VPBank), Military Commercial Joint Stock Bank (MB), and Maritime Bank. The other banks were Sacombank and Viet Nam International Commercial Joint Stock Bank (VIB).
The banks, which will pilot capital and risk management methods according to Basel II standards, will complete the pilot by 2018 and the Basel II application will be then deployed at other commercial banks in the country. Local banks currently apply the Basel I.
However, to be able to apply the Basel II standards, local banks must increase capital as their capital adequacy ratio (CAR) would reduce. Banks, which have the CAR of around 9 per cent, would have to increase capital to meet the Basel II standards. BIDV, for example, would have to mobilise more capital to meet the Basel II standards as its CAR is only roughly 9 per cent.
According to BIDV chairman Tran Bac Ha, BIDV is negotiating with partners and it expected to finalise the deal this year.
If the deal is successful as planned, BIDV's charter capital would increase from VND31.481 trillion (US$1.43 billion) to VND37.777 trillion ($1.72 billion), helping the bank meet the Basel II standards.
Vietinbank is also under pressure to increase capital to meet the Basel II standards. The bank's CAR by the end of 2015 reduced to 10 per cent while its total asset increased sharply by 17.8 per cent.
To meet the capital demand, Vietinbank would have to continuously issue more bonds. Last year, the bank successfully issued VND8 trillion ($365.29 million) in secondary bonds to supplement its capital.
However, according to Vietinbank's General Director Le Duc Tho, the better solution is that the government should enlarge room for foreign investors at local banks between 30 per cent and 40 per cent or even higher. However, the State would still hold the dominant ratio of 51 per cent in the banks, he said.
Vietcombank Chairman Nghiem Xuan Thanh also agreed, saying that the Government should have an itinerary to increase the caps for foreign stakeholders in local banks to between 30 per cent and 35 per cent.
Besides, as the State has no more capital to pump into State-owned banks, it should reduce the State ownership at the banks to help them increase capital, Thanh suggested.
Basel II is a new, higher level for Vietnamese banks in accordance with Basel Accords standards set by the Basel Committee on Banking Supervision (BCBS). The application is flexible to different countries but the overall spirit is tighter regulations on banking operations.
Industry insiders said that the Basel II application in Viet Nam would be a challenge for local banks, however, it was a must as it is believed to be the best solution to make Vietnamese banks healthier.
Le Trung Kien, deputy director of the SBV's Department for Banking Operation Safety Policies, said that banks would face challenges in human resources and finance when the Basel II is applied, however, applying Basel II's standards is a key task listed in the programme on credit institution restructuring.
Besides, Kien said, it was indispensable for local banks to apply the Basel II when Viet Nam becomes a part of the Trans-Pacific Partnership (TPP) as most of other regional banks have so far applied the Basel II or even Basel III.
Economist Vo Tri Thanh also said that it is the right time for local banks to apply Basel II and step by step apply Basel III.
This is a timely and reasonable step now, when Viet Nam is undergoing economic restructuring and banking reform, Thanh said.
http://english.vietnamnet.vn/fms/busine ... dards.html