KTFA Members "News and Veiws" Tuesday PM 10-19-2021
KTFA:
Edna: So now what?...honestly, i don't know anymore. I honestly don't...*deep sigh*....smh.
Suzie: you're not alone Edna, a lot of are wondering.....
DeepWoodz: f I’ve learned anything at all about dinar and Iraqs monetary reform, and if it’s true or false, I’ve learned it right here.
From Walkingstick, Frank, Delta, MM, Petra.
Sometimes the articles themselves & sometimes others will catch something in the articles that make you wanna go hmmm, but not really.
There are things like the elections, the hcl, and parliament that have nothing to do with the monetary reforms of the CBI. Although they are all important to the citizens and the country at large.
The 2021 budget and now the upcoming 2022 as we’ve learned have the new rate in them.
Otherwise, they wouldn’t be a secret still.
DeepWoodz: Then you have the second set of books Frank has taught. It exists because the new rate that will boost the US/Iraq economies is a secret.
From FA (final article) 613….
Firstly:
1- Supervising the implementation of the reform program and the projects it consists of, according to the plans and timetables approved by the Supreme Committee for Reform, including adding, deleting or amending new projects.
…..you can see they have a scheduled plan.
It’s not going to be some random act when the rate changes for the world to see.
No need to guess at it. It’s happening right before your eyes
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Samson: The Arab Monetary Fund, in cooperation with The International Monetary Fund's Center for Economics and Finance in the Middle East, organizes a course on "Exchange Rate Policy"
19th October, 2021 Abu Dhabi - United Arab Emirates
This morning, the " Exchange Rate Policy" course, organized by the Institute for Training and Capacity Building at the Arab Monetary Fund, in cooperation with the International Monetary Fund's Center for Economics and Finance in the Middle East, was inaugurated during the period 18-28 October 2021, through the distance training method that the Fund adopted as a continuation of its training activity.
Achieving economic and financial stability is one of the most important economic goals in all countries, so macroeconomic policies are unique in large areas, especially those policies that aim to achieve stability.
The course also highlights the differentiation of macroeconomic policies associated with different exchange rate regimes, the choice of the exchange rate regime, and the most important challenges facing exchange rate policy in developing and emerging market economies.
On this occasion, the speech of His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, stated:
Dear sisters and E Lakhoua
It gives me great pleasure to welcome you to the inauguration of the "Exchange Rate Policy" course, which is being held by the Institute for Training and Capacity Building at the Arab Monetary Fund in cooperation with the International Monetary Fund's Center for Economics and Finance in the Middle East, hoping that you will seize the opportunity and benefit from the topics of the course.
Ladies and gentlemen,
Achieving economic and financial stability is one of the most important economic goals in all countries, so macroeconomic policies are unique in large areas, especially those policies that aim to achieve stability. The course also highlights the differentiation of macroeconomic policies associated with different exchange rate regimes, the choice of the exchange rate regime, and the most important challenges facing exchange rate policy in developing and emerging market economies.
Ladies and gentlemen,
The exchange rate policy is one of the most important policies adopted by countries to maintain the stability of macroeconomic variables, the most important of which is inflation, which is considered one of the obstacles in achieving economic growth.
appropriate exchange.
A fixed exchange rate policy helps curb inflation, and a flexible exchange rate policy helps absorb external shocks. The results of adopting such economic policies were clear during the many economic crises that afflicted the world's economies during the past two decades, which contributed to alleviating the negative effects of those crises.
Ladies and gentlemen,
It is known that the influx of capital significantly in the presence of an effective monetary policy enables countries to avoid the consequences of these flows represented by the rise in real exchange rates, thus reducing the competitiveness of these countries' exports.
Although these flows contribute to an increase in the volume of reserves, the accumulation of reserves may entail costs represented in interest payments on government bonds that are used to absorb the liquidity left by these flows. Therefore, it is necessary for countries to have controls to deal with capital flows, especially short-term, as these funds are often quick to exit.
Ladies and gentlemen,
Your course is rich in topics related to many important topics, as the different types of exchange rate strategies and arrangements and their compatibility with the existing economic policy will be reviewed. The course will focus on the following main themes:
Basics of analyzing different exchange rate systems.
How to read international currency market indicators and exchange rates.
Assessing the adequacy of foreign exchange reserves using traditional and new indicators.
The relationship between exchange rate policy and macroeconomic policies.
Basic parameters for the transition from a fixed to a flexible exchange rate.
Establishment of early warning systems for currency crises.
Ladies and gentlemen,
In conclusion, I would like to thank the distinguished experts who presented the course materials, and to commend the fruitful cooperation that exists between the Arab Monetary Fund and the International Monetary Fund.
I wish you a successful session and may God protect you wherever you are.
Peace, mercy and blessings of God. LINK
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Samson: The Arab Monetary Fund organizes a (remotely) course on "Modern Financial Technologies and Enhancing Their Applications in the Financial and Banking Sector"
18th October, 2021
The training course on "Modern Financial Techniques and Enhancing Their Applications in the Financial and Banking Sector", organized by the Training and Capacity Building Institute at the Arab Monetary Fund in coordination with the Economic Department, was inaugurated today, during the period 17-21 October 2021, through the remote training method adopted by the Fund in continuation of its training activity.
The acceleration of the entry of modern technologies into economic and financial activity, and what is known as the digital revolution in recent times, has led to unprecedented transformations in the financial and banking industry, corporate finance, financial markets, the insurance sector, payment and settlement systems, and investment activities in financial markets, in addition to what was followed by the coronavirus pandemic.
The importance of digital transformation, as modern financial technologies have contributed to the continuity of services provided by the public and private sectors.
Therefore, the importance of strengthening the digital infrastructure of the financial sector, encouraging digital financial transformation, enhancing the inclusiveness of digital financial services, and finding development and investment opportunities in the areas of financial technology locally, to enhance the competitive capabilities of the local private sector.
On this occasion, the speech of His Excellency Dr. Abdulrahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund stated:
Ladies and gentlemen,
It gives me great pleasure to welcome you to the inauguration of a course on “Modern Financial Technologies and Enhancing Their Applications in the Financial and Banking Sector” organized by the Institute for Training and Capacity Building in cooperation with the Economic Department of the Arab Monetary Fund within the framework of the activities of the regional initiative to enhance financial inclusion in the Arab region for the year 2021, hoping the course should contribute to enriching and deepening your experiences.
Ladies and gentlemen,
The acceleration of the entry of modern technologies into economic and financial activity, and what is known as the digital revolution in recent times, has led to unprecedented transformations in the financial and banking industry, corporate finance, financial markets, the insurance sector, payment and settlement systems, and investment activities in financial markets, in addition to what was followed by the coronavirus pandemic. The importance of digital transformation, as modern financial technologies have contributed to the continuity of services provided by the public and private sectors.
Therefore, the importance of strengthening the digital infrastructure of the financial sector, encouraging digital financial transformation, enhancing the inclusiveness of digital financial services, and finding development and investment opportunities in the areas of financial technology locally, to enhance the competitive capabilities of the local private sector.
Ladies and gentlemen,
Available statistics show the great opportunities inherent in the development of digital services, as about 85 percent of adults in the Arab region have a mobile phone, 48 percent of those who have a mobile phone can access the electronic network at the same time, and about 33 percent have sent or received Digital payments, compared to about 44 percent globally, and these statistics are witnessing a steady increase to highlight the opportunities available to accelerate the digital financial transformation in the Arab countries. The digital financial services industry is growing in the Arab region.
As for the sectors most prevalent for the use of modern financial technologies in our Arab countries, payments and transfers occupy the largest share of the fields of modern financial technologies in the Arab countries, at 44 percent of the solutions provided by modern financial technology companies, these solutions include digital wallets for mobile phones and portals Payment via the international network of information.
Dear Sisters and Brothers
As a result of the use of modern technologies, the financial industry faces several challenges, the most prominent of which is that the products and solutions of modern financial technologies, or the regulatory and supervisory solutions provided by financial technology companies, are not subject to specific laws or regulators. Moreover, this industry is accelerating, and the current regulations and legislation cannot keep pace with it, which places burdens on the supervisory and supervisory authorities, especially in some sectors of the modern financial technology industry such as smart contracts and automation consultancy, in addition to providing these services across continents under different legislative systems.
Ladies and gentlemen,
Based on the above, the course will focus on a number of topics, including:
How to build an incubating environment for modern financial technologies and build national strategies for modern financial technologies and digital financial transformation.
Distributed registry and blockchain technologies, and strategies for their activation in the Arab countries.
Digital Financial Services Consumer Protection Frameworks.
Uses of modern financial technologies in the financial sector, capital markets and Islamic finance.
Uses of artificial intelligence and machine learning in the financial sector.
Digital identity technologies and electronic KYC rules.
Regulatory and supervisory techniques.
Cyber security safety.
Big data.
Ladies and gentlemen,
In conclusion, I would like to extend my thanks and gratitude to the colleagues at the Arab Monetary Fund for presenting the course materials, and I urge you to take advantage of this occasion to benefit from the experiences of the various Arab countries, thus maximizing the benefit of the course
I wish you a successful session and may God protect you wherever you are
Peace, mercy and blessings of God LINK