CBI News 01/31/2018

[yota691]

Signature of the deposit guarantee company

 

  

 January 31, 2018

 

Signature of the deposit guarantee company

 In accordance with the duties of the Central Bank of Iraq provided for in its law and in order to ensure the stability of the banking sector and increase confidence in it, "the contract of establishment of the bank deposit guarantee company was signed with the founding body", which included government and private banks, including foreign banks, a total of 44 banks distributed by 6 government banks 22 commercial banks and 16 foreign banks.

It is expected that this company will play a major role in protecting the banking sector, especially the deposits of the public (individuals and companies), which will enhance confidence in the banking sector inside Iraq and in the correspondents of banks outside Iraq, which will contribute to attracting more deposits and reuse them in credit and investment to serve the economy. Iraq.

The capital of the company is 100 billion dinars, of which 55 billion dinars from government and private banks where the proportion of government banks 25% and private banks 30% and the remaining 45 billion dinars will be offered for public subscription.

Baghdad

31 January 2018

 

[DesertEagle]

Good morning Yota, thanks for all your hard work day in and day out.

 

[yota691]

Central Bank: Signing a contract to establish a deposit guarantee company with 44 banks

Date of release: 2018/1/31 12:24 • 108 times read

[Ayna-Baghdad] 
The Central Bank of Iraq announced the signing of the bank deposit guarantee company.

The Director of the Information Office of the Bank, Acer Jabbar said in a statement received by the agency of all Iraq [where] a copy of it "that, in accordance with the duties of this bank provided for in its law and in order to ensure the stability of the banking sector and increased confidence in it was signed the Memorandum of Association of the bank deposit guarantee company with the founding body Including government and private banks, including foreign and a total of 44 banks distributed by 6 government banks 22 commercial banks and 16 foreign banks. 
"It is expected that this company will play a major role in protecting the banking sector, especially the deposits of the public [individuals and companies], which will enhance confidence in the banking sector inside Iraq and in correspondent banks outside Iraq, which will contribute to attracting more deposits and reuse of credit and investment Serving the Iraqi economy ".
He added that "the company's capital is 100 billion dinars, of which 55 billion dinars from government and private banks where the proportion of government banks 25% and private banks 30% and the remaining 45 billion dinars will be put for public subscription."

[yota691]

The Central Bank announces the establishment of a deposit guarantee company

 

Logo of the Central Bank of Iraq     Banks Economy News Baghdad: The Central Bank of Iraq (CBE) announced on Wednesday the establishment of a deposit guarantee company with 44 local and foreign banks. The Director of the Information Office of the Central Bank of Iraq, Acer Jabbar in a press statement received by "Economy News", "Based on the duties of the Central Bank stipulated in its law and in order to ensure the stability of the banking sector and increased confidence in it was signed the Memorandum of Association of the bank deposit guarantee company with the founding body, Including government and private banks, including foreign and a total of 44 banks distributed by 6 government banks 22 commercial banks and 16 foreign banks. He added that "this company is expected to have a major role in protecting the banking sector, especially deposits of the public (individuals and companies), which strengthens confidence in the banking sector in Iraq and in the correspondents of banks outside Iraq," noting that "This will contribute to attract more deposits And re-use in credit and investment to serve the Iraqi economy. " He pointed out that "the company's capital is 100 billion dinars, of which 55 billion dinars from government and private banks where the proportion of government banks 25% and private banks 30% and the remaining 45 billion dinars will be put for public subscription."   Views 19   Date Added 31/01/2018

[Jaygo]

FDIC for Iraq?? 

[Retiredofficer]

 That is progress with a purpose! Fat Lady is entering the building, and making her way to her dressing room. 

[scouter73]

It seems the pig is on the runway doing as flight checks to Get Ready To Fly. Go RV

[eighty227]

Thank you also Yota for all

 you have done for this forum.

[NEPatriotsFan1]

I gotta believe we are close! Thanks Yota for all the play by plays 

[Rmc10]

This sounds good!

[justchecking123]

Looking good...

[davis411]

2 hours ago, Retiredofficer said:

 That is progress with a purpose! Fat Lady is entering the building, and making her way to her dressing room. 

She has entered before

then steps on me

then leaves the building 

 

maybe this time I get kicked before she gets on stage

[NMP2017]

Thanks Yota, man it would be nice to see which banks signed on. Please Warka be one!

Edited January 31, 2018 by NMP2017

[Floridian]

3 hours ago, Jaygo said:

FDIC for Iraq?? 

 

That's what it means.  

This is wonderful!  

Edited January 31, 2018 by Floridian

[Floridian]

5 minutes ago, Floridian said:

 

That's what it means.  

This is wonderful!  

 

Take the money out from under the mattress and put it  into the shiny, new bank account!   

[presence]

Good morning Yoga and DV. Well, this is certainly a post worth the wait (and waking up for.)

 

I really love the timing of this, as it fits in perfectly with the $100Mm hard cash reserve requirements the CBI came out with at the beginning of the month. I'm eager to see what happens next-

[Officiallytook]

18 minutes ago, presence said:

eager to see what happens next-

[yusofsabri]

Tomorrow RV

[jb4388]

5 hours ago, yota691 said:

 

Wonder where we can find a list of the "44 banks distributed by 6 government banks 22 commercial banks and 16 foreign banks."?

 

[Big_J]

GM YOTA AND DV. 

[Jaygo]

3 hours ago, yusofsabri said:

Tomorrow RV

 

HAHAHA!!! 

[TOMINVEGAS]

Should help massively...It’s about flipping time.....smh

[WheresmyRV?]

Finally a good banking law that has passed! Thanks Yota

[skeetdog]

Thanks Yota...This's a major selling point going into the Kuwaiti Conference...The  closed, backdoor sessions seem to have been of some avail....

[olivesman]

CHUNKY MONEYYYYY!