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Showing results for tags 'iraq leaps into world banking market !'.
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CNN. Broadcasting While The IMF Gets Pissed About Egg On Their Face ! Baghdad / Sky Press: The Iraqi Association of private banks, on Wednesday, the formation of the Iraqi Central Bank Committee to open relations with the Arab and foreign banks, while confirming that Iraq will attend a large Arab conference in New York City during the month of October next. Enorrste: Wow! Why in the world would Iraq leap into the world banking market with a conference in New York unless it fully intends to join the world economic community (as stated by the IMF last year)? This is a huge committment on the part of Iraq. Think about it: would they dare to enter into a world conference on banking without an open currency? I seriously doubt it. This may well be a hint to us that they are preparing to open up the currency to the world market PRIOR to October. Time will tell..... ... (by yota) 19-07-2017 03:19 PM Central form a committee to open relations with Arab and foreign banks Iraqi Central Bank announced on Wednesday the formation of a committee to open relations with the Arab and foreign banks, as he emphasized that Iraq is committed to international standards, specifically in the areas of anti - money laundering and risk management, insurance and international accounting. The association said in a statement, it 'organized a panel discussion in the presence of a representative of the Central Bank Mazen morning and the representative of the Union of Arab Banks Khawla al - Asadi and a member of the Committee on Economy Parliamentary Mahdi Al - Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for Economic Affairs at the US embassy Larry Mimut and representative US Treasury in Iraq. " The statement quoted the general manager of investment in the bank Mazen morning as saying that 'Iraq is committed to international standards, specifically in the areas of anti - money laundering and risk management, insurance and international accounting and that there is tightening from the central bank on the necessity of operating banks in Iraq to comply with these standards , especially after the issuance of classification of banks' . The morning that 'Iraq 's orientation during the current phase of opening relations with the Arab and foreign banks , and we started to form a committee in this matter. " On the other hand, the representative of the Union of Arab Banks, Chairman of the Rafidain Bank, Khawla al - Asadi, said that the 'new Iraq is classified in the follow - up area after leaving the gray area', noting that 'Iraq 's progress is very large in the fight against money laundering , ' she said. Confirmed al - Asadi, the 'Arab financial reports indicate Iraq for advanced classification of the Arab world, and we are working to develop the relationship with foreign correspondent banks'. Enorrste: For years the IMF has "spoken softly" to Iraq and has watched with a limited amount of patience as Iraq has diddled away, failing to fulfill its committments. We now see that the IMF (trustee of the CBI, as we recall) also "carries a big stick." This is no idle threat either. I'm actually somewhat surprised that they have put this so plainly, threatening to pull out all support for Iraq if they do not comply. I suspect, however, that their patience, like our own, has come to an end. They made a committment to bring Iraq into the world market "early this year" some time last year and we are not in the second half of the year. So they have egg on their own faces at this point. No wonder they are pissed!
