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About dinareffic

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  • Birthday 02/20/1977

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  1. CBI News 04/17/2018

    The Central Bank decides to save data for electronic payment companies and process them inside Iraq[/ltr] [ltr]Economie[/ltr] Since 2018-04-17 at 14:31 (Baghdad time) [ltr][/ltr] [ltr]Baghdad - Mawazine News[/ltr] [ltr]The Central Bank of Iraq decided on Tuesday to save data to electronic payment companies and process them inside Iraq.[/ltr] [ltr]"In light of the strategic plan of the Central Bank of Iraq to regulate electronic payment activities in the direction of competition and non-monopoly and transfer of foreign expertise to Iraq and to achieve the goal we aspire to, this bank decided to process and save data on electronic payments Inside Iraq ".[/ltr] [ltr]The statement added that "three local companies were licensed to provide electronic payment services in which data processing for all customers in their data centers inside Iraq so far," noting that "there are other companies in the process of obtaining licenses from the relevant authorities and the existence of requests from several companies Foreign international to open branches in Iraq to work to be all the processing and conservation within its centers inside Iraq exclusively. "[/ltr] [ltr]The Central Bank said, according to the statement, that "in the case of wish to foreign companies that will be licensed to work in Iraq to participate with local payment companies located locally, the participation rate must not be less than 51% for the benefit of the local entity."[/ltr]
  2. The government releases contractors' dues The media office of Prime Minister Haider Abadi said on Monday that the latter fired all amounts allocated to contractors by 30%. The office said in a press statement received "Economy News", it is "based on thedirectives of Prime Minister Haider al - Abadi, Minister of Finance Agency, was launched all the amounts allocated in accordance with the national bonds for contractors and by 30 % ,according to the Federal Budget Law for the year 2018 and all provinces, ministries and departments not associated Ministry ".
  3. Economic calls for banking sector governance to stop the corruption of the currency auction April 10 2018 09:28 p [rtl][rtl]Salam Semisem[/rtl] [/rtl] Ihab Jubouri Economic expert Salam Samisem called for banking sector governance to stop corruption in the currency auction and stabilize the Iraqi dinar. Samisem said in a press statement that the importance of the currency auction stems from the fact that it is an auction for the exchange of foreign currency to cover large expenses to support Iraq's foreign trade, and on the other hand to help in partial withdrawal of the local currency from the markets to help maintain specific levels of inflation, where the central bank sells the dollar To the owners of commercial transactions and banks at legal prices, but the entry of the political line on the banks made the transactions of the business is plagued by many suspicions of corruption. Samisem stressed that without the real governance of the banking sector can not stop the corruption of the currency auction because without it are not processing the banks in dollars mainly, especially that the currency offer is a major base to provide stability for the Iraqi currency. The Central Bank of Iraq announced earlier, its decision to deprive three private banks and 99 banking companies from entering the window selling the currency, for violating laws and regulations on the purchase and sale of foreign currency. Several documents revealed the biggest corruption outlets, of which $ 312 billion were leaked through central bank auctions to sell the currency through fake bills.
  4. The Ministry of Communications announced that the coming days will witness the provision of high-speed Internet services to companies and citizens at a lower cost, as the implementation and operation of the optical cable project has been completed. [ltr]Spokesman Hazem Mohammad Ali said in a press statement that the delivery and delivery features started with regard to the national project, which he said will be an important factor in improving the Internet service, where the citizen will feel the efficiency of the service. He pointed to the Ministry's announcement of significant reductions in the provision of Internet service in return for access to service characterized by quality and quantity. He also pointed to the ministry's intention to contract owners of Internet towers to deliver the service to citizens via optical cable, pointing out at the same time that the telecommunications company has become a profitable company after having previously lost debt owed up to 700 billion dinars.,15700023,15700124,15700149,15700168,15700173,15700186,15700201&usg=ALkJrhi69xiZk49AqSWX_FIMKKQpQ6ZFuQ [/ltr]
  5. Central Bank: We have succeeded in ending the exchange rate gap The head of the central bank's financial operations, Mahmoud Dagher, said Saturday that the central bank's three-pronged strategy has contributed to the reform and development of the banking sector. Dagher said during a seminar held on the ground of the Baghdad International Fair entitled "Challenges of the banking sector and the reform strategy" and attended by "Economy News", "The reform carried out by the Central Bank, based on three axes, the first close the exchange rate gap, Carrying out financial inclusion and settling salaries and the third related to the process of technical development within the banking system. He stressed that "these axes constitute the basis of the strategy of the Central Bank to develop the banking system." During the seminar, the Director of Financial Statistics at the Central Bank talked about identifying the challenges coming from the external environment, which included public banks and the science of low capital, as well as the absence of law in the process of achieving the shortcomings of the customers towards banks. The director of risk management at the Bank of Baghdad, Nabil Abdel-Hur Toman, talked about the political risks and their relationship to foreign investment. "Any country with high political risk will prevent the foreign investor from coming to it," Toman said. "We need to develop a methodology and strategy for the coming years related to planning, measuring and analyzing risks to minimize their impact." And that the reduction of risk requires the participation of the government and the central bank and investment bodies as well as the banking sector. He pointed out that "Tuman should provide a saving investment environment to the successful investor has a sophisticated banking system and fixed laws and investment facilities for taxation," adding that "Iraq during 2014-2015 was ranked sixth in the world on the level of political risk, according to international reports" . In turn, the financial adviser to the Association of Iraqi Private Banks, Samir Nusairi, explained during a speech at the symposium that "the challenges facing the banking sector is not the last responsible, but the structural imbalance in the economy in general." He stressed the need for a clear methodology to overcome this structural imbalance, which is reflected in the inability of non-oil revenue and the deficit of the general budgets of the state as well as the balance of payments deficit and other aspects related to infrastructure. He pointed out that the banking sector, under the leadership of the Central Bank of Iraq and according to the strategy of the last years 2016 2020, has been able to achieve good results in the development of the banking sector, including financial inclusion and the settlement of salaries.
  6. Kuwait unveils final agreement to import Iraqi gas Kuwait's oil, electricity and water minister, Bakheet al-Rashidi, said on Thursday that his country is close to concluding a final agreement with Iraq on the import of Iraqi gas. [ltr]"Kuwait and Iraq are very close to concluding a final agreement for the import of Iraqi gas," Al-Rashidi said in a press statement. "There is a slight dispute between the two sides over prices." He added that "the final agreement will be concluded in April next to coincide with the expected visit of the Iraqi oil minister to Kuwait," hoping that "there will be a final agreement on this subject during the next two months." "We are trying to have a sound basis for the agreement, but for details, there will be no problem," he said. On the meeting with the Iraqi side on the electric connection, the Kuwaiti Minister of Electricity, "Iraq is the gateway to Kuwait to Europe, so the GCC countries are talking with him to be an electrical link between us as a first point, and then with Turkey, "He said. It is noteworthy that there is a preliminary agreement for the export of Iraqi gas to Kuwait to pay the remaining amounts of compensation of the war in Kuwait, which is estimated at more than 6 billion dollars, which is hoped to be completed in 2022.,15700023,15700124,15700149,15700168,15700173,15700186,15700201&usg=ALkJrhgZGsv5Q5vyBN6YSTTBG8VnbyxySg [/ltr]
  7. Iraq and Saudi Arabia exchange the opening of banks + ---- - {International: Al-Furat News} The governor of the Central Bank Ali Al-Alak, announced on Thursday, close to the opening of the branch of the Iraqi Bank for Trade in Saudi Arabia. [ltr]"The monetary relations between Iraq and the Kingdom are good, and soon a branch of the Iraqi Bank for Trade in Saudi Arabia will be opened in order to facilitate the trade exchange between the two brotherly countries," the Saudi daily Al-Riyadh reported. Al-Alak added that "Saudi Arabia will also decide to open a branch of one of its banks in Iraq soon, which will ease the economic relations between the two countries." The Iraqi-Saudi relations witnessed a steady development in various political, economic, sporting and other fields, especially after the establishment of the Joint Coordinating Council between the two countries on October 22, 2017.,15700023,15700124,15700149,15700168,15700173,15700186,15700201&usg=ALkJrhgOOEdJSuMkXlV2ZEwdFcCeHu0-Og [/ltr]
  8. Adam Montana Weekly 21 March 2018

    Awesome stuff Adam
  9. Wow. I can't keep track of how many things are set for the end of the month. I read earlier that smart cards must be done by end of December too. Could it be ?
  10. Cabinet session headed by Abadi

    I think I have a bromance for this guy. He's killing it. Keep it up Adabi
  11. Post of the year in my book. Always follow the money folks

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