Wednesday Night Frank26 Video "Paper Cut" and more 2-5-2020
KTFA:
Frank26: 2-5-20 PAPER CUT
This video is in Frank’s opinion
They are talking about a reinstatement and that is not 1 to 1
Don961: The central achieved achievements in the payments system
Wednesday 05 February 2020
Baghdad / Al-Sabah
The Central Bank of Iraq revealed achievements in payment systems in the Payments Department that included a group of hubs.
He added in a bulletin on the central bank's website and followed by "Al-Sabah" that the most important achievements in payment systems in the Payments Department in Iraq were represented by activating the IBAN, which means (International Bank Account Number) on the payment system (RTGS-ACH), which is defined as the international bank account number and based on international special specifications, it is a special pattern of bank customer account numbers that allows its users To verify the validity of the account number transferred to it, and the banks were instructed to approve the unified IBAN in internal transfers as of 1/2/2017.
International standards
He referred to "starting work to assess the readiness of the Iraqi payments system in line with international standards (PFMIs) for the World Bank to improve payment and settlement systems in Iraq within the agreement with the World Bank, which deals with electronic payment systems in the country."
He indicated that the mechanism of paying the salaries of employees of institutions and state departments has been reformed by localizing their salaries with bank accounts and this bank is keen to meet all requirements to implement the process of localizing salaries in banks and converting the system of paying salaries to civil employees, including allocations and benefits, to a system electronic".
Successful localization
He pointed out that it is in this sense that "the Central Bank of Iraq, in cooperation with the banks, sought to bring this project into existence and the success of the localization process for salaries, and work has begun to localize the salaries of the bank's employees, so that the circular will be circulated to the rest of the ministries and all state departments during 2017."
He continued, "Enhancing the role of payment systems in financial inclusion through digital services provided by banks and electronic payment services providers, as it represents an important dimension in the central strategy and automation of work through the use of electronic payment tools and encouraging the use of financial and banking services provided by banks and electronic payment services providers And it supports small, medium and micro enterprises and facilitates their access to finance. "
In addition to "activating electronic payment processes between ministries and government institutions", as well as "evaluating banks and providers of electronic payment services technically, through the evaluation of technical aspects, electronic services and basic banking systems through which it is inferred at the level of banking efficiency in providing electronic services To customers. " LINK
Don961: A relative view of the banking indicators
Wednesday 05 February 2020
Dr.. In the name of Brahimi
The concept of banking intensity refers to the population of each bank in a country and is one of the banking indicators adopted in economic and financial analysis, and then whenever this indicator falls, this indicates the spread of banking habits, in the European Union this indicator scored (1500) people per bank and accordingly it is better Of it in the United States, where five thousand people registered for each bank, except that the forms that some research suffers from are taking the index absolutely without looking at the specificity of the economy in terms of degree of financial depth or technological progress the user.
Therefore, we find a lot of people interested in banking issues and even some officials believe that this indicator in Iraq, which amounts to ten thousand people, will decline for each bank, and they will make recommendations on improving it by increasing the number of banks and banking branches in order to achieve this. And its privacy.
The number of banks in Iraq is currently (76) banks, knowing that the number of their branches combined is close to (1310) branches, and this matter will definitely improve the percentage of banking density in Iraq, but the most important question is to what extent will be achieved that?
To know the answer, it is necessary to return to the previous question, and within the framework of the answer a number of indicators should be reviewed, including the percentage of cash leakage that reaches in Iraq to about (70%), which represents the percentage of what is in the currency outside the banking system out of the total issued currency, and this it indicates weakness in dealing with the banking system despite its improvement as a result of the numerous measures taken by the central bank, especially the salary settlement project, in addition to that (80 percent) of the deposits are almost with the Government banks
On the other hand, the percentage of bank liquidity is around (90 percent) and it exceeds the standard ratio that was set within the requirements of Basel, and this means that banks were unable to use the available liquidity due to them on the one hand, due to the high hedging on the one hand, and the tightness and instability of the market on the other hand.
We see the need to overlook the progress achieved in the work of the banking sector. The index of banking intensity with relative measurements is high for us, not the opposite, as many believe. LINK
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Don961: Calls to employ Iraqi expertise to support the economic sectors
Wednesday 05 February 2020
Baghdad / Hussein Faleh
Experts and specialists in the Iraqi economic affairs stressed the need to employ Iraqi expertise and competencies in institutions concerned with economic sectors, because they are capable of advancing the national economy, noting that the revitalization of the national industry will provide job opportunities for the unemployed and provide the federal budget with hard currency.
The expert in industrial affairs Abdul Hassan Al-Shammari said, in a special statement to "Al-Sabah": "Iraq possesses the economic ingredients that help the development of the local industry and promote it, through human capabilities and potentials, but these ingredients need to be activated, through legislation Special laws that support and advance the domestic product. "
Protect the product
Al-Shammari added that “there are legislative laws since 2010 and until now that have not been effectively implemented, such as the customs tariff law and the consumer protection law as well as the national product protection law,” noting that “the enforcement of these laws will ensure the support of the national industrial product and provide the necessary protection for him".
He pointed out that "there are expertise and competencies in Iraq that can be employed correctly in economic institutions that are concerned with the productive sectors in order to be able to move the wheel of development in the country, stressing that there are industrial factories that have begun to work and produce but they are afraid of the importer who invades the markets because of the lack of total control over the ports Borderlands.
The imported material
He stressed "the necessity to prevent imported goods that are similar to them produced in Iraq, to encourage producers to increase the yield of their production from the various consumed products, indicating that" the cost of the local product is higher than the importer, which makes the price of the imported material less than the local material. "
He pointed out that "the national industry needs a number of issues for the purpose of its advancement, including activating laws to protect the product, as well as supporting industrial producers with soft loans that are implemented on the ground smoothly, easily and without complications," noting that "the projects that the government launched earlier were tantamount to Boring measures that make industrialists reluctant to take out loans because of impossible conditions and real estate guarantees Etc. "
He explained that "revitalizing the local industry will provide millions of job opportunities for the unemployed and provide the budget with hard currency, pointing out that the hard currency comes out with tens of billions annually for the purposes of imports."
To that, stressed the economist, Star El-Fili, "the need to pay attention to the Iraqi competencies and benefit from the experiences they have to advance the productive sectors."
Economic institutions
Al-Faili said in a statement to that “Iraq possesses a group of experts and competent competencies in various fields, especially economic ones, that can be used in economic institutions to advance the productive sectors. To this slide and benefit from their experience. "
And he stressed "the need to benefit from the experiences of global countries to develop the national economy through concluding economic agreements to create a major economic revolution that starts from the industrial sector, through agriculture, to production sectors. The other. " LINK