As security improves, Iraq banks seek a rebound.

[10 YEARS LATER]

4 hours ago, fnbplanet said:

The IRAQI GOVERNMENT  will remove restrictions on currency exchange....

 

Exchange to brokers?  other governments?  auctions?

 

Does the IMF need to remove restrictions for the RV/RI also?

 

The word "will", in regards to Iraq, means "soon", as in unspecified.

 

Nonetheless, very exciting indeed!

 

You are so right. BIG DIFFERENCE between " WILL REMOVE " and " HAS REMOVED " Either way, its 

[Jaygo]

2 hours ago, ChuckFinley said:

You are absolutely correct, never hurts to keep the hope. It is coming, just not on our timeline.  

 

Shut your dirty mouth Chuck!!! You are killing me!!! 😂

[DWS112]

CBI GOVERNOR: CBI HAS REMOVED ALL EXCHANGE RESTRICTION AND MULTIPLE CURRENCY PRACTICE 

OCT 16, 2017

 

START VIDEO AT 9:50 FOR STATEMENT

 

 

 

Ali Mohsen al-Alaq, the governor of the Central Bank of Iraq, discusses his organization's efforts to cut off and isolate financial institutions in territory controlled by the Islamic State following the terrorist group's creation in 2014. As authorities push IS out of its core territory, investigating and disrupting its remaining financial networks in Iraq can help weaken its ability to operate as a terrorist organization and insurgency.

 

Edited October 18, 2017 by DWS112

[newbieDA]

Transcript

07:54

2017 and was highly accepted or received

08:01

by about 6 point 7 billions worth of

08:07

investors demand was something really

08:11

give us a very good positive credit look

08:19

to the country from the investors the

08:23

sort of gross reserves of the central

08:26

bank of Iraq exceeded the adjusted

08:29

program floor by about 4 variants for

08:35

2017 for for now the gross public that

08:40

remained below a suggested also program

08:44

ceiling all of these according is still

08:49

to the IMF the reports hit by the poll

08:55

they followed the poll all

08:59

crisis and Isis attack the government

09:02

has started to implement a program of

09:05

physical conservation to maintain debt

09:09

and external sustainability with the

09:12

current oil price projections and

09:15

implementation of the fiscal

09:18

consolidation under the SBA that is done

09:22

by a range meant the fiscal and current

09:25

account deficit should be eliminated by

09:29

2022 according to the program the ECB is

09:40

committed to maintaining the peg with

09:43

u.s. dollars the peg provides a key

09:47

nominal anchor and highly uncertain

09:50

environment with policy capacity

09:53

affected by the conflict with Isis the

09:57

CBI has removed all exchange perceptions

10:01

and multiple currency practice to

10:07

maintain micro macroeconomic stability

10:10

the government commits to pursue as

10:13

physical fiscal consolidation efforts to

10:16

bring spending in the line with

10:19

available resources in 2017 who might

10:25

the impact of the fiscal consolidation

10:28

on the population the government will

10:31

continue to protect social spending like

10:34

health education social safety net etc

10:45

now I'd like to talk about the CBI

10:49

during the during uncertain time and

10:55

certain environments maybe I was not

11:00

that lucky when I moved to the central

11:03

bank

11:03

end of 2014 because we fail

11:12

two big shocks one was as you know the

11:17

hush Isis and the other one was the

11:21

sharp decline on oil prices that went

11:28

down during 2015 by 40% and in 2016 by

11:36

17%

11:38

so that was a really a big challenge for

11:42

the CBI to deal with the situation we

11:50

have moon and the central bank because

11:54

of those challenges from monetary

11:58

stability to financial stability and

12:02

economic growth so we can deal with the

12:07

the challenges and the opponents that's

12:11

created by those bull shots we have

12:16

taken many measures and regarding these

12:20

two object

12:27

for example we have worked very hard

12:33

with the government to pass the

12:36

difficult time to the financial

12:39

difficulties that the government had

12:41

faced by quantitative easing the central

12:47

bank has discounted the Treasury bills

12:52

from the government by about so far 20

12:58

billions American dollars which is it's

13:03

a big amount that if you measure the

13:10

budget of the country also enhancing and

13:16

supporting private banking sector

13:21

safeguarding the financial sector from

13:23

financial crime

13:24

and money then they know people of the

13:28

national strategy for auntie Rhonda and

13:33

countering violence in terrorism and

13:38

empowering the AML CFT bureau within the

13:42

central bank and establishing a AML CSD

13:47

national council and in that regard I

13:53

think we have done a lot with our

13:56

international partners it's very

14:00

difficult time to face Isis and in that

14:07

regard

14:08

so we tried our best to cut off all the

14:14

financial net hundreds of Dixie shops

14:20

and wire transfers companies being cut

14:24

off from the from the system and also we

14:29

get somebody some cases to be to the

14:36

court which something happened for the

14:39

first time and the country to have such

14:43

cases in front of the day of the court

14:50

many of them have been charged for bail

14:54

so it gives an indication that the new

14:59

law that we have put new measures and

15:02

regulations we we put we the oversight

15:07

over the banking sector we really tight

15:12

in a way that we keep reached to that I

15:19

think with our international partners we

15:23

have done a lot we have almost on daily

15:27

basis they share we share our

15:31

information with our partners so that

15:36

helped us

[yota691]

Keywords: Strengthening the relationship between foreign correspondent banks and Iraqi banks have significant benefits on the banking sector

 

Governor of the Central Bank Ali Alalak "Economy News"

Economy News Baghdad: The governor of the Central Bank, Ali Alalak, Tuesday, that the strengthening of the relationship between foreign correspondent banks and Iraqi banks have significant benefits on the Iraqi banking sector. "The measures taken by the Central Bank in the fight against money laundering and the financing of terrorism, which included a number of companies and were suspended from work and referred to the judiciary, is an important step and in compliance with the resolutions of the Council," Al-Alak said in an interview with Al-Iraqiya satellite channel in Washington. Security". He added that "the strengthening of the relationship between foreign correspondent banks and Iraqi banks is very important and has significant benefits on the Iraqi banking sector," calling on foreign banks to "rely on the measures adopted by the Central Bank in the development of the banking sector such as compliance and anti-money laundering, which is the Faisal to accept cooperation with Iraqi banks. "     Views 110   Date Added 10/18/2017

[3n1]

thanks yota and all dv for the articles ,, hmm so is keywords saying the cbi has stopped the dollar sales (mcp)  at the 10:01 mark in the video or is he referring to something else ..... cheers

[Half Crazy Runner]

4 hours ago, yota691 said:

Keywords: Strengthening the relationship between foreign correspondent banks and Iraqi banks have significant benefits on the banking sector

 

Governor of the Central Bank Ali Alalak "Economy News"

 

He really loves his electric blue suit ..

[10 YEARS LATER]

1 hour ago, Half Crazy Runner said:

 

He really loves his electric blue suit ..

Me - I couldn't pull off the Electric Blue suit - more power to him Huh. Probably a wee bit eccentric and we're good with that, huh.

 

if he wore German Lederhosen & suspenders and Clogged Dance, he still gets my thanx. 

 

At at least we some over there that know what the he'll they're doing 

[dullenih]

i miss the statement : program to delete three zeroes    lifting three zeroes

[pokerplayer]

I'm having a hard time grasping what he is saying here. Could I get someones opinion on what this says in " Iraqi-ish for dummies" please ? Read it a few times and I still have a stupid look on my face. 

 

Sorry, just being honest here, and I'm refering to me here, no one else.

 

   pp

Edited October 18, 2017 by pokerplayer

[Texstorm]

Thanks Yota & DT ! Where's that big beautiful lady that's going to sing for us ? I can almost here her now ! 

[SnowGlobe7]

7 minutes ago, pokerplayer said:

I'm having a hard time grasping what he is saying here. Could I get someones opinion on what this says in " Iraqi-ish for dummies" please ? Read it a few times and I still have a stupid look on my face. 

 

Sorry, just being honest here, and I'm refering to me here, no one else.

 

   pp

 

[pokerplayer]

4 minutes ago, SnowGlobe7 said:

 

 

 

[Synopsis]

31 minutes ago, pokerplayer said:

I'm having a hard time grasping what he is saying here. Could I get someones opinion on what this says in " Iraqi-ish for dummies" please ? Read it a few times and I still have a stupid look on my face. 

 

Sorry, just being honest here, and I'm refering to me here, no one else.

 

   pp

 

Nah, PokerPlayer, we all struggle with the "Iraqi-ish" and all try to make sense of it all.

 

My opinion is the whole speech Ali al-Alaaq made was more of a summary of past things in the Iraqi news media and up to the minute rendition of where the CBI is at. So pretty much blah, blah, blah stuff kinda like reading the Parliament minutes (when they actually do meet other than to postpone to a later date). The two surprises to me where:

• No mo Multi Currency Practices (MCPs). For me, it is like, "Yeah, Right. I'll believe that when I see it."
• The CBI has moved from the 20th to 21st Century with the modern banking practices that are now being utilized (said Ali al-Alaaq trying desperately to keep his smirk from showing).

Let me know if You were looking for something else and The Best Of Your Day To You, PokerPlayer! 

 

Go Moola Nova!

[pokerplayer]

Thxs Syn, always appreciate your "soft" words of wisdom.

 

   pp

[Synopsis]

4 minutes ago, pokerplayer said:

Thxs Syn, always appreciate your "soft" words of wisdom.

 

   pp

 

Anytime, PokerPlayer! 

[yota691]

An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties

 

Economy News Baghdad: An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties. The Association of Iraqi Special Banks said in a press statement received by "Economy News" that "a delegation of 17 private banks, Rafidain and industrial banks and the Executive Director of the Association of Private Banks Ali Tariq and a number of advisers of the Association held a meeting at the Center for Strategic Studies in Washington, American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it. She added that "the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks in addition to plans for the reconstruction of liberated areas and development in the oil sector." "The global media has reflected a negative image of Iraq over the past years, which has greatly affected the entry of foreign companies to work in Iraq," said the representative of the Center for Strategic Studies, Dan Randy, who chaired the session. "The Iraqi market contains great positives and a great opportunity for investors to work. in it". On the other hand, the Executive Director of the Association of Private Banks, Ali Tariq, explained to the American delegation the development of the Iraqi banking sector and the challenges facing the current period. "Despite the general conditions of the country, the work of banks is constantly evolving and we seek to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries." He added that "private banks are working hard to be a balanced share with government banks through deposits and through the issuance of decisions to stimulate government departments to deal with private banks," noting that "Iraqi banks implement the law on combating money laundering and terrorism and instructions on compliance and risk management" . "The US banks now have greater confidence in the Iraqi banks, especially after the positive steps taken by the Central Bank of Iraq to combat money laundering and punish violators," said Bank of Dubai bank chief Dennis Flanery. He added that "US banks are considering the mechanism of working with Iraqi banks and projects that provide them with a streamlined work." The Association of Iraqi Private Banks decided to continue holding periodic meetings with the US Treasury and foreign banks, specifically the US, with the establishment of an annual forum between Iraqi and American banks.     Views 170   Date Added 19/10/2017

[yota691]

 

Iraqi banking delegation in the United States to discuss opportunities for cooperation between the two parties

economy

11:11

Last updated

The time now is 11:21 AM

148

Watch

 

 

Baghdad / Al-Ghad Press: 
An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the parties. 
The Association of Iraqi Private Banks said in a statement received by "Al-Gharab Press" a copy of it, "A delegation of 17 private banks, Rafidain and industrial banks and the Executive Director of the Association of Private Banks Ali Tariq and a number of advisers of the Association held a meeting at the Center for Strategic Studies in Washington with a US delegation included The US Treasury, the American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it.
She added that "the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks in addition to plans for the reconstruction of liberated areas and development in the oil sector." 
The representative of the Center for Strategic Studies, the US Dan Randy, who chaired the session, that the global media reflected a negative image of Iraq during the past years, which significantly affected the entry of foreign companies to work in Iraq, indicating that the Iraqi market contains a large positives and a great opportunity for investors to work and 
explain the Director Executive Director of the Association of Private Banks, Ali Tariq, presented to the American delegation the development witnessed by the Iraqi banking sector and the challenges facing the current period
Tariq said that despite the general conditions of the country, but the work of banks in a continuous development and seek to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries. 
He added that "private banks are working hard on to be balanced with its share of government banks through deposits, through the issuance of decisions motivate government departments to deal with private banks, "noting that Iraqi banks implement anti - money laundering and terrorism special instructions to comply with the law and risk management 
, said an official ous East At Citibank, Dennis Flannery, said US banks now have greater reassurance to the Iraqi banks , especially after the Iraqi Central Bank of positive steps to combat money laundering and punish violators
He added that the American banks are considering the mechanism of working with Iraqi banks and projects that provide them with a smooth work and 
decided the Association of Iraqi private banks to continue to hold regular meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between Iraqi and US banks.

[yota691]

US banks are considering the mechanism of working with Iraqi banks

 

 Since 2017-10-19 at 11:02 (Baghdad time)

Baghdad Mawazine News

An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties.

"A delegation of 17 private banks, Rafidain and industrial banks and the executive director of the Association of Private Banks Ali Tarek and a number of the Association's advisors held a meeting at the American Center for Strategic Studies in Washington, DC, with an American delegation," the Association of Iraqi Private Banks said in a statement. The US Treasury, the American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it.

The Association said that "the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks, in addition to plans for the reconstruction of liberated areas and development in the oil sector."

For his part, said the representative of the Center for Strategic Studies, the US Dan Randy, who chaired the session, that "the global media reflected a negative image of Iraq over the past years, which significantly affected the entry of foreign companies to work in Iraq," noting that "the Iraqi market contains a large positive opportunity Great for investors to work in. "

On the other hand, the Executive Director of the Association of Private Banks, Ali Tariq, explained to the American delegation "the development witnessed by the Iraqi banking sector and the challenges facing during the current period." According to the statement.

"Despite the general conditions of the country, the work of banks is constantly evolving and we seek to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries."

He pointed out that "private banks are working hard to be balanced share with government banks through deposits and through the issuance of decisions to stimulate government departments to deal with private banks," noting that "Iraqi banks implement the law on combating money laundering and terrorism and instructions on compliance and risk management "He said.

"The US banks now have greater confidence in the Iraqi banks, especially after the positive steps taken by the Central Bank of Iraq to fight money laundering and punish violators," said Denis Flannery, a Middle East official at Citibank.

He pointed out that "US banks are studying the mechanism of working with Iraqi banks and projects that provide them with a smooth work."

The Association of Iraqi Private Banks decided to "continue to hold periodic meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between Iraqi and American banks."

[Butifldrm]

Iraqi banking delegation discusses in America opportunities for cooperation

 

 Twilight News    

 

 31 minutes ago

 

 

An Iraqi banking delegation discussed with a number of banks and financial institutions operating in the United States opportunities for cooperation between the two parties. 

"A delegation of 17 private banks, Rafidain and industrial banks, the executive director of the Association of Private Banks Ali Tariq and a number of advisers of the Association held a meeting at the American Center for Strategic Studies in Washington with a US delegation that included the Treasury," the Association of Iraqi Private Banks said in a statement to twilight news. American banks, the OPEC Foundation, American financial institutions and a number of employees of the US Embassy. During the meeting, they discussed the Iraqi economy and the challenges facing it.

She added that "the meeting discussed the development in the Iraqi banking sector, especially in the past five years and strengthen cooperation with Arab and foreign banks in addition to plans for the reconstruction of liberated areas and development in the oil sector." 

"The global media has reflected a negative image of Iraq over the past years, which has greatly affected the entry of foreign companies to work in Iraq," said the representative of the Center for Strategic Studies, Dan Randy, who chaired the session. "The Iraqi market contains great positives and a great opportunity for investors to work. in it".

On the other hand, the Executive Director of the Association of Private Banks, Ali Tariq, explained to the American delegation the development of the Iraqi banking sector and the challenges facing the current period. 

"Despite the general conditions of the country, the work of banks is constantly evolving and we seek to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries." 

He added that "private banks are working hard to be a balanced share with government banks through deposits and through the issuance of decisions to stimulate government departments to deal with private banks," noting that "Iraqi banks implement the anti-money laundering law and terrorism and instructions on compliance and risk management" .

"The US banks now have greater confidence in the Iraqi banks, especially after the positive steps taken by the Central Bank of Iraq to combat money laundering and punish violators," said Bank of Dubai bank chief Dennis Flanery. 

He added that "US banks are considering the mechanism of working with Iraqi banks and projects that provide them with a streamlined work."

The Association of Iraqi Private Banks decided to continue holding periodic meetings with the US Treasury and foreign banks, specifically the US, with the establishment of an annual forum between Iraqi and American banks.

 

Keywords: 

 

http://www.shafaaq.com/ar/Ar_NewsReader/304199fb-d66b-4ea4-ac42-a8bb2466a9fa

[Wiljor]

Good morning Yota and Butifldrm , 

Thanks for these articles, and huge they are !!!!!!!!  Looks like they are getting ready to coordinate, cooperate, and work together for the better of the people and yes, perhaps,  I hate to say it, maybe  we will see a change in the value of the IQD. 

A super day out to ya all 

 

[Synopsis]

1 hour ago, Wiljor said:

A super day out to ya all 

 

And to You as Well, Wiljor! The Best Of Your Day To You! 

[10 YEARS LATER]

Possibly already done - Iraq is notorious for time lag with news. No doubt this has been ongoing for a long time.

[Officiallytook]

[bkeiller]

8 hours ago, yota691 said:

An Iraqi banking delegation discusses in the United States opportunities for cooperation between the two parties

 

Economy News Baghdad:   ...  the work of banks is constantly evolving and we seek to reduce the use of cash ... Added 19/10/2017

 

I like the sound of this excerpt.