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Central Bank is accepting deposits BIS new Iraqi "asset" and calls for the development of comprehensive banking


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#1 yota691

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Posted 06 January 2014 - 04:51 AM

 
 

10788.jpg?width=400&height=300&crop=auto

Iraqi Central Bank Governor Abdul-Basit Turki imaging (mjm)

 

Author: ASJ 
Editor: BK, BS 06.01.2014 13:32 Number of readings: 38 

 

 

Long-Presse / Baghdad

Considered the Central Bank of Iraq, on Monday, that the declaration of acceptance of Bank for International Settlements and additional deposits "win-win situation" for the country, and called for investment in order to achieve comprehensive development in the government and private banks and adhere to international standards in preparation for a credit rating.

The Bank for International Settlements (BIS), or the Bank for International Settlements, based in Basel, Switzerland, may feel the Iraqi Central Bank, in, (the 29th of December 2013 the past), his willingness to accept deposits Iraq fiscal 2014 current.

The governor of the Iraqi Central Bank and the Agency, Abdul-Basit Turki, said in an interview to the (long-Presse), "The Bank for International Settlements, a bank world's central banks, and the regulatory system of the international banking banks all, in terms of commitment to the decisions of the Basel, which determine the efficiency of the banking systems , "pointing to" the possibility of getting shares in the bank, which has a membership of 60 central banks including the Central Bank of Iraq, by individuals and non-governmental entities, and in accordance with the Charter of the United Nations. "

Turki added that "BIS plans annually to invest cash reserves deposited with him by the world's central banks," noting that "the bank differs from the Fund for the Protection of Iraqi funds DFI, which was established under the UN resolution, to deposit the proceeds of Iraqi oil after the year 2003

The governor of the Iraqi Central Bank and the Agency, that "exchange reserves at the central bank comes from these deposits after the transition government to the local currency (the dinar)," pointing out that "the Iraqi funds that were frozen in the nineties of the last century, was at the Bank for International Settlements did not subject to any legal prosecution being protected from them. "

He continued, Turkish, that "BIS contributes to strengthening financial cooperation and funding of global as well as it is not subject to accountable to any government," Msttrda that "the implementation of this procedure will achieve better returns for funds Iraq with keeping them in safe places, especially since the Bank for International Settlements invest in a part of the Central Bank's investment portfolio, which is part of the cover of the currency (cash reserve) and the risks and benefits of a few large ".

He called on the governor of the Iraqi Central Bank and the Agency, to "invite investment BIS to achieve comprehensive development in the government and private banks as well as the commitment of the Basel standards and the adoption of corporate governance and labor regulations to promote the reality of modern banking in the country and to seek credit rating."

The credit rating credit rating, is the degree of solvency or merit in the economy, which is estimated from which to experience some of the agencies specialized business, to assess the validity or person's eligibility for loans, or the merits of the company, or even the state for loans, which in this study the the financial viability of the company or the person or the state, and the extent of its credit on the loan and ability to repay, and takes into account the records of the person or the company or the state, and its disposal in the past for the payment of its debts.

The Bank for International Settlements, BIS was established in (17 May 1930), under an intergovernmental agreement by Germany, Belgium, France, Great Britain and Northern Ireland, Italy, Japan, the United States and Switzerland, to facilitate reparations imposed on Germany by the Treaty of Versailles after World War first. The Charter has been drafted for the bank in the international bankers conference in the German city of Baden-Baden in November and adopted its charter in the Hague Conference II in January 20, 1930.


Edited by yota691, 06 January 2014 - 04:52 AM.

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#2 jeepguy

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Posted 06 January 2014 - 05:06 AM

wow!  I  think we  kind of knew  this  was  the  work in progress we were  hoping to see ,  if I read this right ,   this says  it is for  dealing with international  settlements ,  {  I like that  they are saying  this is a win-win  deal , and international is in the equation..  so I will take a guess at this means  the dinar will now be international accepted , and the  funds in this account will be used to grantee this notes of the dinar  outside of  Iraq     :peace:  }   am  I  reading  this right ? 



and  also  to help  pay off those  war debts  I really didn`t forget those


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#3 nannab

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Posted 06 January 2014 - 05:13 AM

Good morning Yota and a very Happy New Year!

Thank you for all of your hard work keeping us

informed.


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#4 hammer911

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Posted 06 January 2014 - 08:24 AM

Well this sounds like very good positive news to me... Thanks Yota!!! Wondering why there aren't more comments???? GO RV!!!~~~


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#5 ladyGrace'sDaddy

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Posted 06 January 2014 - 08:51 AM

That was my take also jepguy. I am not nearly as smart as tbomb and buti but I have

noticed the use of the word international lately. With so much happening politically

lately I just can't help myself. I truly believe this is about to SUDDENLY happen. I know

that most here think the Iraqi government is nearing the end but I just don't see it.

I 've known all along that someday somebody was going to get fed up with constant

bickering and move forward without children.
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#6 moneysoon

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Posted 06 January 2014 - 08:55 AM

The comprehensive banking mandate is what I am excited about he most. They are talking about full recognition as an international player! This is why the other stuff does not distract me. Too many huge things happening on the money side of things to cause any dismay about their rollout. Follow the money and you will see the truth of the matter.
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#7 ladyGrace'sDaddy

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Posted 06 January 2014 - 09:16 AM

The comprehensive banking mandate is what I am excited about he most. They are talking about full recognition as an international player! This is why the other stuff does not distract me. Too many huge things happening on the money side of things to cause any dismay about their rollout. Follow the money and you will see the truth of the matter.


Oh my! So true" FOLLOW THE MONEY".
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#8 Ms.Bean

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Posted 06 January 2014 - 09:23 AM

wow!  I  think we  kind of knew  this  was  the  work in progress we were  hoping to see ,  if I read this right ,   this says  it is for  dealing with international  settlements ,  {  I like that  they are saying  this is a win-win  deal , and international is in the equation..  so I will take a guess at this means  the dinar will now be international accepted , and the  funds in this account will be used to grantee this notes of the dinar  outside of  Iraq     :peace:  }   am  I  reading  this right ? 



and  also  to help  pay off those  war debts  I really didn`t forget those

This along with the tariffs... hmmm somethings up for sure.


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#9 Lutie

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Posted 06 January 2014 - 09:35 AM

:praying:


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#10 Tubbs

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Posted 06 January 2014 - 09:47 AM

Good morning Yota and a very Happy New Year!

Thank you for all of your hard work keeping us

informed.

I second this  :reading-newspaper:

G B)  RI  / G B)  RV


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#11 mrref

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Posted 06 January 2014 - 10:06 AM

Sorry folks don't mean to be negative here, but I don't see a RV anytime soon. The Freaking TERRIOSTS are taking over major cities in Iraq. You tell me, how are they going to RV???.


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#12 ScaryMary

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Posted 06 January 2014 - 10:06 AM

Keep on keepin on.....
Go Go Go Go Go Go RV!!!!!!
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#13 olivesman

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Posted 06 January 2014 - 10:11 AM

:praying:


THAT'S the one I was searching for the other day!
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LOVE TO ALL and GO RV!!

MAKE IT SO!!

I'm REALLY ready for a LONG VACATION!

#14 ladyGrace'sDaddy

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Posted 06 January 2014 - 10:17 AM

Sorry folks don't mean to be negative here, but I don't see a RV anytime soon. The Freaking TERRIOSTS are taking over major cities in Iraq. You tell me, how are they going to RV???.


All it takes is a couple of key strokes on a computer. LOL

Maybe you should read some of the news of late. The picture isn't nearly as bleak

as the lame stream media would lead you to believe.
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#15 eburt

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Posted 06 January 2014 - 10:19 AM

Hmm - I hope this is true - But with all the recent chaos and Maliki is still in power causing lots of trouble in Iraq - I do not see anything happening anytime soon in Iraq for RV.  I hope I am wrong because I am in this for the duration but NO ONE seems to know what's going on in Iraq - I wonder what Adam have to say but only time will tell when we get a response - Just want this thing to end but It seems like 2014 may be out of the picture as well - I hope and pray someone prove me wrong.

 

Thanks for the post Yota


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"I will persist until I succeed - The prizes of life are at the end of each journey, not near the beginning; and it is not given me to know how many steps are necessary to reach my goal. One step at a time is not too difficult - I wll persist until I succeed"

GO RV!!

#16 skeetdog

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Posted 06 January 2014 - 10:21 AM

Iraq's had conflicts since the time when this little guy with a slingshot took out the big guy with a rock...Iraq aint changed a bit but they're tryin' their best despite Maliki to get their country back on track. With all the international financial support from every major player on the globe with stakes that Iraq can pull its self back into the big game. I personally don't think the world leader are goin' to let this situation deminish the possibilities that Iraq possesses....


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#17 mrref

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Posted 06 January 2014 - 10:23 AM

All it takes is a couple of key strokes on a computer. LOL

Maybe you should read some of the news of late. The picture isn't nearly as bleak

as the lame stream media would lead you to believe.

I've been reading Iraqi news every day for the past 10 years, thats how long I've been in this so call investment...Any other suggestions.... 


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#18 skeetdog

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Posted 06 January 2014 - 10:27 AM

I've been reading Iraqi news every day for the past 10 years, thats how long I've been in this so call investment...Any other suggestions.... 

Try decaf... :blush:


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#19 mrref

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Posted 06 January 2014 - 10:32 AM

Try decaf... :blush:

Really, you think that will help???LOL :bravo:


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#20 AmericaInc

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Posted 06 January 2014 - 10:38 AM

There will always be some level of security problems in Iraq. The Islamists know it is a client state of Washington's and will not stop. On the other hand, follow the money - these issues will not stop the oil flow out of the country, nor infrastructure expansion.

 

There is too much business opportunity there for it to be stopped by scattered pockets of violence.


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