More "News and Views" from KTFA Members Tuesday PM 9-3-19

KTFA:

Samson:  Erbil is delivering oil and customs revenues to Baghdad

3rd September, 2019
The Leadership of the Patriotic Union of Kurdistan, Rizan Sheikh, an agreement within the Kurdistan Regional Government of Iraq, to deliver oil revenues and revenues of the border outlets of the federal government in Baghdad. 

She said: "The relationship now between the governments of Baghdad and Erbil is positive, and it can yield important results, the regional government wants to be close to the federal government, because it believes that the strength of the power of a unified Iraq." 

"The main Kurdish parties, the Kurdistan Democratic Party (KDP), the Patriotic Union of Kurdistan (PUK), and the Movement for Change, agreed to strengthen the relationship with Baghdad, end all tensions, and hand over oil and customs imports."    LINK

AnotherMailman  IMO, this wouldn't be happening unless the HCL has been resolved or about to be announced as passed!  (wink0

Tommy17:   I agree

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Samson:  Karbala Council disrupts official working hours on Monday and Tuesday commemorating the martyrdom of Imam Hussein

3rd September, 2019
Karbala provincial council chairman Ali al-Maliki said Tuesday that the council voted to disrupt official working hours for the ninth and tenth day of Muharram.

Maliki said in a brief statement received "tomorrow Press" a copy of it that "the Council voted to disable the official opening on Monday and Tuesday of next week on the anniversary of the martyrdom of Imam Hussein (peace be upon him)."

It is noteworthy that the province of Babylon announced the reduction of working hours in the province to one o'clock in the afternoon starting from the fifth of Muharram until the ninth of it.   LINK

Don961:   Arab Monetary Fund launches a special index for the Iraqi market for securities

 Iraq Stock Exchange

 03 Sep 2019 02:02 PM

Direct: The Arab Monetary Fund revealed the inclusion of the Iraqi market for securities officially in the system of Arab financial markets database with the Fund, as of the beginning of September 2019.

The Arab Monetary Fund, in a statement, that the number of Arab financial markets joined the database of the Fund rose to 17 markets with the accession of the Iraqi market.

The Iraqi Stock Exchange currently includes 95 companies, including 28 banks and 5 insurance companies, 23 services, finance and investment companies, and two companies in the telecommunications sector, in addition to 21 companies in the industrial sector, 10 companies in the hotel and tourism sector, and 6 companies in the agriculture sector.

The total market value of the market at the end of 2018 was about 11.356 trillion Iraqi dinars equivalent to $ 9.1 billion, thus being ranked 13th among the Arab financial markets in the market value.

The Fund said that it has started to calculate a special index for the Iraqi market for securities, based on the data as at 31 July 2019 as a base period .

The sample of the index of the Fund for the Iraqi market for the securities of 43 companies, representing a market value of about 80 percent of the total market value as at the end of 2018 .

It is noteworthy that the Arab Monetary Fund calculates, in addition to indicators for the financial markets that join its database, a general composite index, which measures the performance of the Arab financial markets combined, including the Iraqi market for securities as of September 1, 2019    link

StephenMac63:  Game On

Boxman:  Wow...effective 9/1/2019.....

Hammy14:  How can they do this at 1190?  How can they do this without first announcing they are Article VIII?  This makes no sense at all with a restricted currency that is grossly undervalued.  It says as of September 1, 2019 to be in effect.  I would like for someone to explain how they can do this at a program rate, because this goes against everything we have been taught, IMO.  Surely, I'm missing something, but as it reads, I don't understand how they can do it.

Yrmallmann:  They can do this with any rate... but as not as atractive as with a signficant rate increase and listed on FX for currency convertion (and for any financial transaction outside or even inside country)…..The rate increase will happen after the RI and article 8 acceptance (since iraq is transitioning). They may pass some laws (federal court act, article 140, hcl) this may allow them go into article 8... then launch the lower denoms... and with the delete the zeros reinstate the currency on the market bringing to us investors a good return with our 3 zero notes….Hope i had helped…..Best Regards

 Noneb4him:   Re:  Article 149.. Amf Inclusion of ISX …..My opinion.. it is in the wording.. article says "inclusion" into their data base.. Doesn't say "launched" or "activated" or any of those other action words we love…..But it does look like another MAJOR step forward in the "coming days" episodes of As the Dinar turns!!  The fact that they are included means they will be active soon... like around Octorber 1, right?(date given of ISX going live with NASDAQ)    All IMO..

Samson:  CR2 and Network International Announce Partnership to Deliver Mobile Banking as a Managed Hosted Service in MEA

3rd September, 2019
Banking software leader CR2, has signed a strategic partnership with Network International, the leading enabler of digital commerce across Africa and the Middle East. CR2 and Network International will deliver mobile banking as a Managed Hosted Service, enabling banks to rapidly deploy and cost-effectively manage their mobile banking services.

CR2 is considered to be the leader in channel banking software in Africa and the Middle East. They recently announced the latest release of their BankWorld Mobile App, which includes Customer Onboarding, KYC and Account Opening functionality that helps drive customer acquisition. The app is intuitive and feature-rich and includes integrated payments functionality, live communication channels, personal financial management, and personalization by the user.

Network International is the leading enabler of digital commerce across the Middle East and Africa region. The Group provides a full suite of technology-enabled payments technologies as a Managed Service to over 220 Financial Institutions across the region.

The partnership between CR2 and Network International will provide banks with access to a state-of-the-art banking platform as a Managed Service which means low upfront costs and a significantly reduced need for IT support from prospective bank clients.

Kieran Kilcullen, CR2 Chief Commercial Officer, commented: “As we continue to grow our customer base, we recognise the need to offer flexible deployment options for banks. We chose to partner with Network International for their deep technical expertise, experience, reputation and market-leading position. This partnership enables CR2 to capture new customer opportunities in our market and allows all banks to rapidly implement mobile banking services.”

Andrew Key, Managing Director – Africa, Network International, added: “We are very pleased to partner with CR2. The BankWorld mobile app proposition complements our portfolio offering to banks in the region. The ability to deploy mobile banking as a managed service means that banks can have their banking app in the hands of their customers faster, without delay or without the complexity, cost and resources needed by adding infrastructure in-house.”

About CR2

CR2 is a privately held, independent global banking software company, providing specialised products to the banking industry in over 60 countries worldwide. Incorporated in Ireland and founded in 1997, it offers digital and ATM channels that provide personalised services built upon an integrated, omnichannel, digital banking platform known as BankWorld. Headquartered in Dublin, Ireland, CR2 has a network of international offices in London, Lagos, Cairo, Amman, Dubai, Bengaluru and Perth.

About Network International

Network International comprises a group of companies and is the leading enabler of digital commerce across the Middle East and Africa (MEA) region, providing a full suite of technology-enabled payments solutions to merchants and financial institutions of all types and sizes, including acquiring and processing services and a comprehensive ever-evolving range of value-added services.

Network International Holdings Plc is the holding company for Network International and the group companies.   LINK

 

 

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