KTFA Members "News and Views" Friday Afternoon 12-17-2021
KTFA:
Briscom: May I ask for comments about this. On Monday’s CC, at 51:00 in, Petra said that the ‘delay’ (Dec 13 to Dec 22) in announcing the government was ‘strategic’.
Petra or family, could you elaborate on why the change of date to Dec 22 is IYO, a ‘strategic’ move/decision on their part. Thanks
Pompeypete: Several ways of looking at this….It could be a convenient screen for our Blessing in the minds of some…how?
All the time no official Govt or group are sanctioned by the court, no group, Sadr Shia or Fatah/Maliki Shia can claim kudos from the CBI’s move…albeit that Khazemi is with his sitting CoM they can only proceed with prior Govt laws and decisions.
So the official announcement could have been moved ‘strategically’ to allow for the Blessing prior to the announcement of the Election results so that no one group gets a divisive advantage…IMO
PompeyPete: Another view/reason postulated is that Fatah/Maliki and all the other pro Iranian factions got hammered at the election, for some reason people didn’t vote for them because they don’t like being murdered and distorted etc …they lost a big slice of their seats, with it their power took a big dent….whilst that of Sadr almost doubled….
Maliki is fearful of Sadr….who will deal with them if they disarm their militias and give up their CORRUPT….soooo… when the election results are ratified they are anticipating a huge backlash …as Maliki and others pay demonstrators to erupt in the streets…..but if the announcement is made post Blessing, the citizens will be dancing in the streets and the $25/30 given to go and shout outside the Supreme Court will be far less relevant to them..IMO
Petra, MM and I talk at least once a day and I believe this is along the lines of their thinking…imo
Hope this helps….
MilitiaMan: Thank you for your input, well done and those thoughts are in line with mine.. ~ MM
Popeye7: Loved your insight concerning why the Iraqi government decided to wait to give the elections results PompeyPete… Makes perfect sense considering how the residence in Iraq would must certainly be in a celebratory mood once the rate of their currency benefits their buying power… Good stuff… Thanks again MM for your continued insight as this process continues to unfold, and the day draws near to fulfilling what has been in the planning stages for a very long time… God bless, and take care to all…
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Samson: The Board of Directors of The Arab Monetary Fund will hold its two hundred first meeting on Thursday 16, 2021
17th December, 2021
The Fund organized a number of “remote” meetings and workshops, during the fourth quarter of 2021, on regional and global economic developments, and priorities in the post-pandemic phase, to support the return of the economic, financial and banking sectors to the usual paths of growth
The Fund offered 17 “remote” training courses for official Arab cadres
Issuing 3 new issues of a series of introductory booklets to increase economic and financial awareness among Arab youth
Successful completion of the first-of-its-kind joint experiment of interconnection between the “Bunna” platform for Arab payments
and the European Instant Payment Settlement System to carry out instant payment settlement business in multiple currencies
The Fund has issued a number of studies and working papers on the current developments at the regional and international levels and its repercussions on Arab economies
The eighth meeting of the Technical Committee of the Arab Statistics Initiative “Arabstat” discussed several priority topics for Arab countries, including sustainable development statistics, government finance and public debt statistics, foreign investment statistics, and the quality of statistics
The Sixth Public Finance Forum, discussed the procedures and measures for recovery in the Arab countries in the post-pandemic stage
Fiscal policy issues, prospects for economic and financial developments, and digital transformation in public finance
Today, Thursday, December 16, 2021, the two hundred first meeting of the Board of Executive Directors of the Arab Monetary Fund was held, headed by Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors. The meeting reviewed the developments of the fund’s activities, and the most important things it did in its various fields of work during the fourth quarter of 2021, within the framework of its five-year strategy (2020-2025)
With regard to lending activity, the Council was informed of the position of loan requests submitted by Arab member states to benefit from the Fund’s resources, as well as the Fund’s follow-up to the agreed reform programs, supported by loans to support the efforts of Arab countries in strengthening the economic, financial and monetary conditions
On the other hand, the board’s agenda included a review of the developments in the investment activity of the fund, including the activity of accepting deposits from central banks and Arab monetary institutions, the performance of investment portfolios, developments in the global financial markets, and the measures taken to implement the fund’s investment strategy
The Board was also briefed on the Fund’s initiatives to develop the Arab financial and banking sector and financial markets, which comes among its top priorities, as the Fund organized a number of consultative events on the most important developments related to the role of the financial and banking sector in supporting economic activities during the recovery phase from the Covid-19 pandemic
The esteemed council was also briefed on the fund’s activities within the framework of financial inclusion initiatives, developing bond markets in Arab countries, enhancing Arab countries’ capabilities in the field of using modern financial technologies, and other initiatives
The Board was also briefed on the Fund’s activities in the field of enhancing cooperation with regional and international financial organizations and institutions. On October 10, 2021, the Fund organized the International Conference on “Promoting Digital Innovation and Cross-Border Payments”, in cooperation with the Digital Monetary Institute of the Official Forum of Monetary and Financial Institutions (OMFIF), to discuss the opportunities offered by digital innovations to develop financial services and capital markets, and enhance financial inclusion.
The Board was also briefed on the Fund’s participation in the sixth periodic meeting at the level of heads of regional financial arrangements institutions and the International Monetary Fund, on the current situation of the global economy, and ways to strengthen the global financial system and the global financial safety net
In the context of its role as a technical secretariat for the Board of Governors of Central Banks and Arab Monetary Institutions and its committees and work teams, the Board was briefed on the Fund’s “remotely” organization, the twenty-first meeting of the Regional Working Group to Promote Financial Inclusion in the Arab Countries, where a number of topics were discussed, most notably “Ways to develop the microfinance sector in the Arab region, and the role of the micro-insurance sector in supporting financial inclusion, by enhancing insurance awareness and diversifying and promoting products, especially for micro, small and medium enterprises, which contributes to developing activity, supporting investment and contributing to economic growth”. The Honorable Council was also informed of the Fund’s organization of the thirty-sixth meeting of the Arab Committee on Banking Supervision, and the sixth meeting of the Regional Working Group for Modern Financial Technologies in the Arab Countries
During the meeting, the Board was also briefed on the most important developments with regard to the “Buna” platform for Arab payments, which included the Fund’s completion of all requirements related to the establishment of the institution, and the joint announcement at the end of September (September) 2021 with the Italian Central Bank on the success of completing the joint experiment of consensual interdependence between Buna and the European Instant Payments Settlement System (known as TIPS ), to carry out instant payments settlement business in multiple currencies
The establishment of the Fund for the technical system and data centers, the continuation of progress in the development of applications related to the functions and services of instant payment, as well as the holding of technical workshops with banks interested in instant payments that have the initial technical readiness to launch this innovative service, to start developing its infrastructure to match the requirements of connectivity with “Bunni” instant payment system
Within the framework of its role as the secretariat of the Council of Arab Finance Ministers, the honorable Council was informed that the Fund organized a workshop on “Improving the Efficiency of Public Debt Management in Arab Countries”, at the level of public debt managers and senior technicians concerned with public debt issues in Arab countries, where the workshop dealt with the repercussions of the pandemic crisis. Corona on public debt and its trends, and the policies and methodologies used to support the sustainability of public debt after the pandemic
The Board was also informed of the Fund’s latest publications of reports, research, bulletins, books and working papers, since the previous meeting of the Board in September 2021 LINK
MilitiaMan: The most important part is the system has been tested successfully and with multiple currencies, imo that includes the Iraqi Dinar. With the amount of news coming out from the AMF and the CBI we can clearly see that the digital transformation is well under way.
Clare: THIS SUPPORTS EVERTHING MM & PETRA HAVE BEEN TEACHING US ABOUT INTERCONNECTION & DIGITIZATION.....TIE THIS INTO WHAT WS & FRANK SHARED WITH US LAST NIGHT IN THE UB2B……WOW! WHAT A GREAT SPOT WE ARE IN!! IMO THANK GOD!
MilitiaMan: Yes, indeed we are in a great place. ~ MM