TNT, KTFA and Frank26 Saturday Night 907019
Re: Article: Revealing a study to delete zeros from the Iraqi currency . LINK
Cutebwoy: So here we go again from Iraqi ,so all the people who lend them money I guess don’t need it back anytime soon ,wow
SwampyJack: Of course it is a smoke screen !!!
RVALready: If you know the history of this, it is easy to see the delay article from Iraq is pure bull. Most of the intel providers are saying soon, and Iraq has been busy for weeks educating the citizens on the RV, new LDs , and coins
DocSavage: Countries often announce they aren't going to RV a day or two before they RV…. China and Kuwait come to mind.
Natok: Iraq is done, they are waiting for the go, then everything falls into place at the same time.
Fuze: No delays this time guys, the cat is already out of the bag...they missed that boat when they totally prepped and educated the citizens...get ready!!!
CharlieOK: Agreed Fuze. The issue is when does what happens in Iraq equate to the US getting to exchange. It is way too late in the game for new cans to kick.
Debritt: Thought I heard somewhere that yesterday the Finance Committee and CBI was on Iraq TV
Fuze: Debritt, not hearsay... They were on Iraqi TV all day explaining the process!
Eccle519: We always thought the GCR was the ticket but a GCR means revaluing all the currencies and seems that requires a major Global recession...but I'm done guessing lol
Fuze: Frankly, we were expecting a bigger fake out than a delay article, expecting something like Mahdi's death...something a lot more dramatic...
Fuze: The real unprecedented manic this time guys is, the CBI has EDUCATED the CITIZENS! Its not a matter of the GOI talking, its way beyond the GOI talking this time..
Robert001: I am just surprised that anyone really took it serious
Tishwash: Samir al-Nusairi: Rational management of the central bank and sound application of monetary policy achieved economic
The Iraqi Council of Representatives and the political and economic circles are preparing to evaluate the implementation of the government of Prime Minister Adel Abdul Mahdi from its government curriculum
In the midst of the ongoing discussions now requires the above to not separate between what has been achieved during the past years and what has been achieved during the year in which the government assumed the responsibility and bright points achieved by some of our economic and financial institutions during the economic and security shocks suffered by Iraq, which the Central Bank of Iraq had a leading and fundamental role In supporting the national economy and achieving economic resilience.
In order not to overwhelm the rights of those who took direct responsibility to face those circumstances, difficulties and challenges.
The support provided by the Central Bank to the national economy during the economic and security shocks suffered by Iraq due to the economic and financial crisis and the war on terrorism is a bright spot and an honorable success experience in a country under harsh conditions and at a historic stage that is the most difficult in facing the economic and security challenges that no country has experienced. In the world, such as what Iraq went through as the management of the Central Bank of Iraq and his team and cadres proved that they had a prominent role in promoting economic resilience and moving steadily towards economic stability.
- What are the steps taken by the Central Bank in drawing up its strategy?
Through the wise efforts and prudent measures in the application of monetary policy and development policies of the Central Bank in the difficult economic phase of Iraq were able to draw a strategy for the years (2016-2020) and a clear road map Human capital through important achievements made during the years (2015-2019) and still ongoing most notably: Maintain inflation by not more than 2% and a level of adequacy of foreign reserves within acceptable rates according to the latest criteria Jmiei ( ( IMF )The International Monetary Fund (IMF) increased by more than 160%, which is considered a sufficiently high percentage internationally as the foreign exchange reserves of Iraq amounted to 72 billion dollars until 30/6/2019, and maintain the stability of the exchange rate and stimulate the banking sector regulatory, supervision and control and the establishment of new units within the organizational structures of banks Such as compliance, combating money laundering, financing of terrorism, managing credit and operational risks, issuing money laundering law 39 for the year 2015, developing payment systems, implementing all retail and mobile payments, establishing a national exchange and working on applying international standards in reports
. In line with the principle of transparency and disclosure in addition to the Bank's daily efforts to stimulate financial inclusion operations and focus on the initiative to localize the salaries of employees for the purpose of raising the financial inclusion rate of the population who do not have accounts in the banking system, which actually increased from 11% to 22%.
According to the World Bank Bulletin. The Central Bank also announced recently to begin the completion of its investment banking projects for the years (2019-2023).
- What about the measures taken by the Central Bank for the purpose of restoring public confidence in the banking and financial sector in Iraq.
For the purpose of restoring confidence in the banking sector, the Bank re-evaluated and classified banks in accordance with international standards and standards in evaluating business results and measuring the efficiency of performance.
The bank is taking its initiative to finance small and medium projects and is currently taking measures to implement the Council of Ministers Resolution 245 for the year 2019, the second axis of it paragraph (1) concerning facilitating investment and reconstruction operations and presenting a new initiative. Satisfied with investment projects in addition to his supervision and leadership of community initiatives funded by banks such as the Baghdad project and support the Iraqi Drama Fund and the launch of Islamic finance pooled national funding for large projects and the establishment of a fund enable and take regulatory and structural measures and the establishment of a depository center in the Iraqi market for securities The establishment of a national center for credit information. And the Iraqi Payment Council.
- What are the central tendencies to develop its relationship with Arab and foreign financial institutions that have been cooled by the financial crisis experienced by Iraq?
At the level of international banking relations, the Central Bank was able, with the exceptional efforts of the Governor and his team, to restore relations with Arab and foreign central banks and to deliver the achievements achieved during the past years to the ruling international financial institutions such as the Financial Action Organization, which contributed to the transition of Iraq's classification from gray to normal follow-up and finally out The Governor's visit in 2017 to the United Nations Security Council J, presented by the achievements and organizational and structural developments, technical and compliance with international standards in financial reporting and enhance confidence in the Iraqi economy and Iraq's ability to adhere to international credit benefits and praises of the World Bank, the International Monetary Fund and the Financial Action Group have had a clear impact in promoting economic resilience and financial victory
All the successes above make the Central Bank of Iraq and its team deserve the right word neutral service to our national economy and the Iraqi banking sector link
Don961: Coming soon.. Iraq to join the Organization of International Securities Commissions (iosco)
Updated 07/09/2019 12:25 PM
BAGHDAD / Jassim Karim al-Taie / .. The Chairman of the Securities Commission on the imminent accession of Iraq to the Organization of International Securities Commissions ( IOSCO ), while confirmed the intention of the Commission to sign memoranda of understanding with the State of Qatar and Saudi Arabia.
Chairman of the Securities Commission Dr. Alaa Abdul-Hussein Al-Saadi said in a statement singled out by (Dinars Economic Agency) during the organization of the second annual workshop to honor the joint-stock companies to submit their final accounts for 2018 and under the slogan (early disclosure encourages investment) that encouraging companies to disclose early Its financial reports lead to the establishment of sound bases in the dissemination of information in a timely manner in order for investors to make their investment decisions based on that information and properly to reach the strengthening of financial markets and raise their efficiency.
Al-Saadi said that the Commission is working to promote a culture of indirect investment in the securities sector, the most important of which is the activation of Iraq's membership in the Federation of Arab Securities Commissions after it was frozen for a number of years as well as the completion of Iraq's regulations to the Organization of International Securities Commissions ( iosco ) as an associate member.
We are currently working to transform this capacity into a major member, in addition to signing memorandums of understanding with the corresponding bodies in the Hashemite Kingdom of Jordan and the Islamic Republic of Iran.
The Chairman of the Council of Advisors to the Council of Ministers, Dr. Abdul Karim Hussein Al-Faisal that the stock market is an important market in the economic sector as an indicator to measure the economic situation of countries as it helps to reverse all changes that indicate prosperity or recession in the economic situation, as it helps to provide values Securities based on the impact of supply and demand, which helps to know the value of investments and the soundness of financial operations and the safety of companies and their ability to apply regulations and rules during dealing with the stock exchange.
He stressed that the stock market has a fundamental role in economic growth through the exchange of securities between different companies, which leads to building capital and contribute to economic development. As well as encouraging savings and investment by providing investment offers to most securities. This contributes to attracting many individuals to save in order to invest in securities offered through companies instead of applying investments in assets that do not bring any financial benefits.
He stressed that the most important advantages of attracting investment are transparency and provide all information about companies listed in the market and ensure that they are constantly updated.
The fact that the stock market is the widest window for indirect investment and whenever the disclosure of the financial situation and performance of listed companies is transparent and up-to-date the more credibility the market gives Investors were able to buy shares without worries. He pointed to the importance of early disclosure and the announcement of the mechanisms set by the Securities Commission for disclosure and what sanctions are supposed to be imposed on companies that refrain from disclosure, as disclosure is a guide to transparency and the decline of corruption.
At the end of the workshop, which was attended by the financial advisor to the Prime Minister Dr. Mazhar Mohammed Saleh and the Governor of the Central Bank, Dr. Ali Al-Allaq, managers and CEO of the Iraqi Stock Exchange Taha Ahmed and a number of heads of shareholding companies, banks and financial specialists were honored joint-stock companies and proactive in submitting their final accounts for 2018, a bank company
Al-Mansour Investment Company, Trans-Iraq Bank, Elite Contracting Company, Al-Amin Financial Investment Company, Al-Manafea for Financial Transfer Company, Ashur Hotel Company, Al-Khazir Road for Construction Materials Company, Mosul Game City Company, Ba Hotel Company But the company Baghdad Iraq for public transport. / End / 22 / link
Frank26: ANY QUESTIONS ?
Q&A and Fireflys report
Firefly77: We received texts yesterday from our banks. Notifying us of a new retirement payment and that it is ready now and will be used on the new electronic card system . They want those who have not set up their accounts to come in and take care of it
Once all of this is done they will get their payments electronically. Seems this is a final warning for all to get on board now because it is the only way to get paid.
We also see on TV that Bagdad is saying they stand behind the deal with Kurds and promise them they will receive 17% of the new budget…it still needs to be made into law, but they are showing Kurds and GOI smiling and being happy on TV.
F26: Walkingstick told me they will have Delurue machinces and other machines during our exchange. Whatever machines they use will detect any counterfeiting of any currency .
The Iraqi dinar is a new currency coming out and the new software in these machines recognizes the Iraqi dinar
Looks like everyone is ready
F26: Tomorrow is the first working day for Iraq. They will be telling us all a lot tomorrow imo.
F26: No youtube tomorrow……..I want to rest……so we will see you on Monday unless something big happens tomorrow.
Streamed live 30 minutes ago