KTFA Members "News and Views" Tuesday Morning 9-3-19


Popeye7:  Terrific CC this last evening Frank, and Tink... Loved your play on words as it concerned the companies that were waiting to get inside of Iraq...

Something to the effect that these foreign companies have their faces against the window pane, looking from the outside in such pain, as they waited to be invited into Iraq...

The time is now, and as you, and your teams have declared to us months ago, is truly transpiring before our very eyes... Amazing!...

Thanks again to Walkingstick, Delta, FF's, and the teams for such diligent work

Monday Night KTFA CC 9-2-19

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Samson:  Mesopotamia launches supplementary advances to state employees through MasterCard

3rd September, 2019  8:16

Rafidain Bank, on Tuesday, launched additional supplementary advances to employees of government departments ranging between {5, 10, 15, 20, 25} million dinars and according to the salary of the employee through the MasterCard International Card and national salaries exclusively with the bank.

The bank's media office said in a statement received by the Euphrates News that it has been paid twice as much to the employees of the state departments for more than 11,500 employees who have already been given personal advances and submitted on the second additional and was paid to them by MasterCard. 

The statement pointed out that "the payment of this advance was through the imprint of the customer and then informed the employee by sending a text message notifying him of the advance payment, after he completed all legal procedures to grant them and disbursed through electronic payment tools to which the financial balance has been filled."    LINK


Samson: Today .. Baghdad hosts a meeting of the Conference of Asian Parliaments with the participation of 16 countries

3rd September, 2019 9:15

The meetings of the Standing Committee of the Budget of the Asian Parliaments Assembly will begin on Tuesday in Baghdad with the participation of 16 countries in order to set the budgets of the Assembly for the next two years. The information department of the House of Representatives in a brief statement that "on Tuesday will see the start of the Standing Committee of the budget and planning of the Association of Asian Parliaments meeting. 

For his part, member of the Committee on Foreign Parliamentary Relations, Amer Al - Fayez, in a press statement that "Asian Parliaments conference to be held in Iraq is a meeting of the planning Committee of the Standing budget of the Association of Asian parliaments to develop two budgets Mqubltin, as it will be held for a one - day sessions in the morning and evening."  He added that "the presence of - Participating parliaments from 16 Asian countries are a sign of the new diplomatic victory for Iraq and a message to the world on its stability as well as its readiness to receive delegations in various fields, including diplomacy and sports.
"Russia, India, Korea, Pakistan, Afghanistan, Iran, Turkey, Cyprus, Kuwait, Bahrain, Qatar, Saudi Arabia, Lebanon, Syria, Jordan and Palestine are the main countries participating in the conference," he said.  He pointed out that "the work is currently on the success of this conference, which is an international meeting of an international assembly and Iraq will gain the trust of the world," noting that "the country is ahead of other international meetings, including the meeting of Arab parliaments to be held in October." 

For his part, said member of the House of Representatives Ali Muhannis al-Ghanemi in a press statement, that "In addition, a member of the House of Representatives, Saaran miraculous in a press statement that "Iraq provided all the atmosphere to receive its guests from the countries participating in this Assembly," pointing out that "Iraq hosting this conference reflects the civilizational facade of the country as well as encouraging investment."   LINK

Samson:  The Central Bank establishes a banking relationship with the World Bank's RAMP program

3rd September, 2019

The Central Bank of Iraq announces the establishment of a banking relationship with the World Bank's Reserve Management Advisory Program ( RAMP ), which includes investment in bonds it issues.

The Bank explains that, through the Department of Investments and External Transfers, a plan has been prepared for cooperation with the World Bank in the management of reserves and investment in bonds issued in dollars, at least $ 300 million.

The World Bank's Reserve Management Advisory Program ( RAMP ) is a platform to advise on the development of asset and reserve management in developing countries and international institutions to enable them to maximize their financial resources. 

Central Bank of Iraq information Office September 3, 2019



Samson: The Central Bank establishes a banking relationship with a World Bank program

3rd September, 2019

The Central Bank of Iraq announced the establishment of a banking relationship with the advisory program for the management of reserves (RAMP) of the World Bank, and this relationship included investment in bonds issued.

"The Bank clarifies that through the Department of Investments and Foreign Remittances, a plan has been prepared for cooperation with the World Bank in the management of reserves, and investment in bonds issued in dollar currency, at least $ 300 million," said a central bank statement received by the Euphrates News Agency. 

“The World Bank's Reserve Management Advisory Program (RAMP) is a platform to advise on the development of asset and reserve management in developing countries and international institutions to enable them to maximize their financial resources.”   LINK

Samson: Central Bank announces strategic banking projects for the next five years

3rd September, 2019 by Samir al-Nusairi

In the monthly meeting of the government and private banking leaders, Mr. Ali Al-Alak, Governor of the Central Bank of Iraq, confirmed the continuation of the Bank's approach to stimulate the economy and build the capacity and development of the banking sector in order to move to the development role and contribute to financing investment and reconstruction projects. The exchange rate as the main achievement of monetary policy applications and one of its important objectives, which has positive repercussions on the revitalization of the economy and stabilize the monetary and financial system

.  Ed oil as a key resource for revenue and continuing imports of all goods and not to encourage and support local production will inevitably lead to the continuation of the bank offer to sell dollars, according to its law because the reason is not supply but demand for the dollar for the reasons above

The central bank announced at the meeting the launch of its strategy for the next five years to implement 21 projects for the development of the banking business after it was able to most of the main objectives to achieve the sub - first strategy for years (2016 -2020 ) , which became possible that the starting process begins full objectives of monetary policy to achieve the transition to The ranks of international banks sober with the certificate of specialized international financial organizations. 

And that of the strategic banking projects which have been identified for future objectives and its impact according to a program for each project is limited to periods of implementation and reach the target during the years (2019 - 2023.

These are development projects related to achieving financial inclusion such as the settlement of salaries and projects to restore confidence in the banking sector such as the Deposit Guarantee Company, projects for structural, administrative and legal development such as the government guide project, projects for training, rehabilitation, capacity building, classification of banks, and projects to move banks from the role of banking to contribute to development as a syndicated Islamic finance project. 

It should be noted here that although the bank has begun planning for these projects since 2016 but also as stated the government is committed to the curriculum as it comes to the banking sector and as targeted by the National Development Plan (2018 - 2022 ) and the vision of Iraq in 2030

The central bank's emphasis on working in accordance with its approach to economic reform since 2015 is anchoring the reality that the central bank and its current administration embody a bright spot in an unstable economic environment for subjective and objective reasons

The results highlighted the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives specified in its law, and its contribution to achieve economic resilience and promote the decisive victory over terrorism

In addition to the results achieved on the scope of applications of monetary policy internally and convince global financial organizations, the most important official reports issued by them confirmed the success of the Central Bank's policy in achieving an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, one of the objectives of strengthening the economy

In addition to his contributions and multiple initiatives to stimulate the economic cycle and enhance liquidity in banks and reach to re-coordinate bridges between the financial and monetary policies and propose new economic and structural policies to prepare public budgets for the coming years on the basis of programs and not items and attempts to restore confidence in the banking system

The Central Bank has demonstrated its clear ability to interact and analyze the obstacles of work and create conditions to overcome the challenges. To build a solid national economy   LINk

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