Delta and KTFA Members Saturday Night 9-28-19







Judy:  Thank you Delta for posting this. Iraq needs to start keeping their promises to the Iraqi people.   IMO the Citizens of Iraq need this Blessing NOW!!!

Edna:  Forgive me..But people don't normally protest when they know something they want is ON THE WAY...I mean, why do this if "All systems GO!" for thought.

Doodlebug:  IMO, they protest because they know it is supposed to happen but they don't know when. They just know it hasn't happened yet. They are tired of waiting, they are tired of the broken promises... they want "the better life" that they have been promised. They protest because their religious leaders tell them to. They want the "purchasing power" that was promised to them by their Gov't. Again, all IMOO.



Saturday, 28 September

 Baghdad / National News Center

BAGHDAD (Reuters) - Dealing with Iraqi figures with US sanctions cannot be done in dollars, the head of Iraq's Trade Bank said on Saturday.

He added in a statement to the National News Center, that "the sanctions on Iraqi figures prevent banking transactions with them in the dollar." "The dinar should  be adopted instead."

Moparman:  Stop with the broken promises and finally do what you say. Give you citizens the purchasing power they so need. Reinstate your currency.

Samson:  Al-Attar praises Al-Rasheed Bank's decision to replace the card with Nakheel MasterCard

28th September, 2019
CEO of Zesco Group of Companies haj Ghadeer al-Attar, on Saturday, praised the financial steps followed by Al-Rasheed Bank.

Al-Attar said in a statement, received / Mawazine News / copy of it, that "Rashid Bank was and remains committed to monetary policy in Iraq and keep abreast of developments around the work of that policy." He added, "The decision of Al-Rasheed Bank to replace the K-Card with its Nakheel MasterCard is a step that will lead to keeping the data of citizens salaries within the bank and in order to ensure more transparency in the monetary policy of Al-Rasheed Bank."

This is based on the decision of the General Secretariat of the Council of Ministers and the instructions of the Central Bank of Iraq and the letter of the National Retirement Authority, which includes the need to replace the card of the Bank of Rasheed Bank Palm MasterCard of the Bank by reviewing the nearest branch or center special issuance and replacement of the above cards and according to the centers below.  LINK

Don961:  imo ... this is a stand out line :

"Rashid Bank was and remains committed to monetary policy in Iraq and keep abreast of developments around the work of that policy."

and this

"The decision of Al-Rasheed Bank to replace the K-Card with its Nakheel MasterCard is a step that will lead to keeping the data of citizens salaries within the bank and in order to ensure more transparency in the monetary policy of Al-Rasheed Bank." ......

committed to Iraq's evolving MONETARY POLICY ....

Salamon69: Good analysis Don... Replacing the K card Mastercard with the Nekheel Mastercard with the purpose of keeping citizens data within the banks...

That to me speaks of security and confidence to the citizens that their money is safe within the bank now.

And I love the word TRANSPARENCY which creates an environment of TRUST...

As we know this monetary reform can only work if it succeeds with the citizens which the last 2 weeks from firefly77 reports of all the education and billboards have almost helped create that environment of TRUST and TRANSPARENCY


Samson:  Senior Iraqi official: Soon many of the outstanding problems with the Kurdistan region will be resolved

28th September, 2019
The Secretary General of the Council of Ministers Naim Hamid al-Ghazi on Saturday resolved to resolve many of the differences and outstanding issues between the federal government and the Kurdistan Regional Government soon.

Al-Ghazzi said in a statement to reporters today, that "there is a negotiating delegation to resolve the outstanding problems with the region with regard to the issue of oil and border ports and disputed areas as well as Kirkuk other topics," stressing that these are the most prominent points of disagreement between the federal government and the regional government.

"Joint delegations between the two sides are continuing dialogues to solve these problems and soon many will be resolved," he added.   LINK

Don961:  The opening of the 13th Erbil International Fair

Saturday 28 September 2019

Morning / Eyad Barwari

The Director of Information Federation of Chambers of Commerce in the Kurdistan region of Iraq, Iskandar Mohammed, the opening of the 13th Erbil Fair tomorrow, with the participation of 300 companies from 24 countries, as it will include many pavilions, including agricultural, industrial, reconstruction and food.

"We expect this exhibition to be of interest to professionals, businessmen, traders and entrepreneurs, as it will last for four days." Mohammed said: "Companies from France, Canada, Kuwait, Qatar, Turkey, Iran, India, Lebanon, Sri Lanka, Ukraine, China, Poland, Egypt, Saudi Arabia, Jordan, Kenya, the United States, Malaysia, the UAE and the Netherlands, as well as companies from Iraq will participate." 

And the importance of the exhibition confirmed that "this exhibition is held annually in Erbil and the goal is to participate the largest number of companies from different countries and attract them to work in the Iraqi market through the Kurdistan region gate."    LINK


Don961:  Countries that cut interest rates and others raise them to address individual crises

Saturday 28 September 2019

Capitals / Agencies

At a time when the vast majority of central banks around the world are slashing interest rates amid attempts to support the economy, certain countries are swimming against the current to tackle individual crises.

The Federal Reserve, the world's largest central bank, is on the path of this pessimistic approach after cutting interest rates by 25 basis points, the second such move since the global financial crisis.

The US central bank was not alone in this direction, with the ECB cutting interest rates on deposit facilities by 10 basis points and the Turkish central bank cutting interest rates by 325 basis points for the second time, bringing the total cut to 7.5 percent this year.

External conditions

Japan, England and the Swiss central bank kept interest rates unchanged at the latest monetary policy meeting held earlier this month.

But at the same time, under the same external circumstances, other countries are taking steps in the opposite direction to rein in the rapid growth of the economy, such as Norway and the Czech Republic.

Other countries, such as Argentina, Zimbabwe and Pakistan, have other financial-related problems.

In the case of Norway, it recently implemented the fourth rate hike this year by 25 basis points to 1.5 percent, the highest level in nearly five years, in a bid to calm the accelerating economy.

Stress cycle

"The recent increase in interest rates may be the end of the current tightening cycle," said central bank governor Augustine Olsen.

In the case of the Czechs, we see that the central bank there is considering raising the interest rate after having implemented eight times to raise in the past two years.

"Discussions within the bank will tend to be slightly bullish now, although it is not excluded that a reduction is possible at some point in the future," says Czech Central Bank President Tomasz Holop.

Argentina and bankruptcy

Argentina raised interest rates to 75 percent for the rest of the month instead of 58 percent previously, and the base rate, which changes every day as it is tied to the short-term debt auction, reached 83 percent.

The move by the Central Bank of Argentina comes amid the country's standing on the verge of bankruptcy for the ninth time in its history.

In the case of Zimbabwe, the Reserve Bank increased its overnight interest rate earlier this September by about 20 percent at one go to 70 percent amid attempts to rein in inflation.

Zimbabwe is in a deep economic crisis as inflation figures accelerate wildly as the country flops between the abolition of the currency in 2009 before announcing a return to the Zimbabwean dollar earlier this year.

The inflation rate is estimated to be between 230 and 570 percent due to the absence of official figures and with the country heading for its first annual contraction since 2008.

Pakistan has raised interest rates four times this year to 13.25 percent, taking into account that its central bank has kept interest rates at this level.    LINK



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