The Recovery Of The Iraqi Dinar !

[blueskyline]

Thanks Thug................ Wow.....

 

[DinarThug]

LINK

Dollar rises to 4-month high

 

2018/4/25 13:40

 

The dollar reached its highest level in four months on Wednesday, after an increase in yields standard US Treasury bonds to exceed three percent , which had a negative impact on some of the currency debate, while not helped a mixed picture of surveys euro companies before the meeting of the European Central Bank.

 

Asian shares fell on Wednesday, after big selling in the US market and warnings from US companies about rising costs, fueling concerns that corporate profits may be coming to an end.  The dollar index, which measures it against a basket of six major currencies, rose 0.4 percent to 91,093. The index rose overnight to 91.076, its highest level since Jan. 12, before a drop in US equities led investors to lower risk appetite. 

Against the yen, the dollar hit a two-month high of 109.20 yen hit in the previous session. The dollar was just below that level at 109.18 yen, up 0.3 percent from the previous session. Sterling fell 0.2 percent to $ 1.3947. The British currency fell to a one-month low of $ 1.3919 on Tuesday before rising 0.3 percent on news of a possible takeover by British drugmaker Takeda of Britain's Shire.  The Australian dollar was down 0.4 percent at $ 0.7569, falling to a four-month low.  New Zealand dollar losses, which fell to $ 0.7102, the lowest level since Jan. 4.

[DinarThug]

Saleh Saleh: Iraq is on the verge of a banking boom

26/4/2018 12:10 am 

 

Baghdad / Al-Sabah 

The start of the financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure from where the world ended, and promote the national economy through interaction with all Segments of society without exception to be the results in favor of the national economy through the positive interaction between the banking system and the citizen 
The activities of the week of inclusiveness have been launched for seven days, targeting all segments of society and in different places and sectors. This interest stems from the important positive role of financial coverage in the reality of the national economy. 

Financial services 
Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh praised the step and promised the task and promote the Iraqi financial sector and said: "As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments of society, a renaissance led by the government and the Central Bank together to make the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. " 
"Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today," he said, adding that "the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. " 
"Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era," Saleh said. 

Banking Education 
Director General of Payments at the Central Bank of Iraq, Souha Abdul Karim, has shown "the Central Bank's efforts to develop the financial and banking sector through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society," noting that "In this framework Comes attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the education of banking services, especially for women, as well as to the segment of students, whether schools or universities, which are considered effective tools for the dissemination of culture and combating banking illiteracy. 

Mainstream products 
Executive Director of the Association of Iraqi Private Banks Ali Tariq said: "The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector." 
Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties. 
"Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy. 

Electronic payment 
He added that "the Central Bank and the Association of Private Banks directly supervise the organization of the week of financial inclusion, which was launched in conjunction with the Arab countries," noting that "Iraq wants to increase the number of customers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public of loans and payment electronic 
And others. " 
Tarek pointed out that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that they deem appropriate from universities 
And commercial centers and others, "noting that" the banks will during the week of financial inclusion to open bank accounts and the granting of credit cards 
And others. " 
Development Agenda 
International Financial Inclusion Expert Sadiq al-Shammari stressed that "it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. " 
International statistics for 2014 show that nearly one billion of the world's adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular. 
"The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage," he said. 

Direct effect 
Director of relations of the South Islamic Bank Gamal Shaker al-Rubaie that "the speed in the changes and technological competition puts the media at the forefront of direct influence on public opinion because the role of the media is to create cultural awareness and a general direction in the community." 
"Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. " 
He stressed that "financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards. 

Short loans 
"Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity," said Haidar Kazem al-Baghdadi. 
"Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. " 

Economic life 
In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari. Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion. 
The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns. 

link

[DinarThug]

Arab Day for Financial Inclusion

26/4/2018 12:10 am 

 

Dr. Basem Ibrahimi 

Three years ago, the Arab countries celebrated the Arab Day for Financial Inclusion, which was set on April 27, coinciding with the founding day of the Arab Monetary Fund. The festivities usually take place over a period of a week, in which a number of activities and activities of financial coverage are organized through the promotion of financial services available at banks. Each country as well as holding seminars and educational programs on the subject. It was customary to focus during the celebrations on the target chosen by the regional team of the Arab Monetary Fund, and this year's celebrations are under the slogan (Enabling access of young people and pioneers To financial services). 

The concept of financial inclusion includes the ease of access to financial services at the lowest cost by all segments of society.
This topic is today an important step that many countries are working to achieve through the development of studies and strategies related to the subject because of its many objectives, especially the promotion of economic growth and thus reducing unemployment Increase income.

 

The work of the Central Bank of Iraq during the past year to form a team for financial inclusion to prepare a draft strategy for the subject for the years 2018-2020 has been completed and work on implementation since the beginning of this year to reach the goal of President is to increase the proportion of financial coverage in Iraq from 11% To 20% as a first stage. In addition, it was agreed with the Arab Monetary Fund to provide the necessary technical support to build a long-term strategy that includes several objectives to cover the financially excluded members of the society. This is a major role in promoting economic growth. International financial data for a large sample of countries that have implemented the concept of financial inclusion, which today more than eighty countries. 

In order to achieve the goal of financial inclusion and the celebration of its activities, financial awareness and economic information play an important role in this context. Recent research indicates that individuals' awareness of financial issues is a factor in the success of financial coverage regardless of the level of progress of their countries. With adequate support through the contribution of all media to the coverage of its activities.
link

[MyLadiesDaddy]

9 minutes ago, DinarThug said:

Saleh Saleh: Iraq is on the verge of a banking boom

👳‍♂️Only if someone parks a car outside the CBI and blows it up👳‍♂️

                    Sorry I couldn't help myself, Alexa made me do it

                                      

[Goggles]

18 minutes ago, DinarThug said:

Development Agenda 
International Financial Inclusion Expert Sadiq al-Shammari stressed that "it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability.

Oh heck yes!!! Go RV!!!

[ChuckFinley]

4 hours ago, DinarThug said:

LINK

Investment Baghdad: Arab countries want to enter the Iraqi market to invest in it

 

 25th April, 2018

The Chairman of the Investment Commission of Baghdad, said that Arab countries are currently working to enter the Iraqi market and investment in them, stressing that the ministries are obliged to define their land for investment

"There are international discussions with Arab companies including Saudi Arabia, Kuwait and the UAE to enter the Iraqi market and invest in it," Shaker al-Zamili, chairman of the board, told Al-Iktissad News

He added that "many delegations that visited Iraq surprised by investment facilities through the investment law that supports the foreign investor and treats him as the Iraqi investor," pointing out that "the picture was reaching the foreign investor incorrectly about the situation in Iraq . "

Al-Zamili pointed out that "the red tape and bureaucracy facing some foreign investors also affected the work of investors, and the government is currently working to end this through the activation of one window."

He stressed that "the amended investment law committed all the ministries of the state to limit its land and give it to the National Investment Commission and then to the investment bodies in the provinces to prepare an investment map . "

Thanks Thug!   It is very important that these countries follow through. SA has been a big supporter of Iraq. Nothing would be more destructive than having Iran's Maliki get elected. 

[ChuckFinley]

3 hours ago, boosterbglee said:

They are making mucho dinero....faster than they can spend it, but not as fast as they steal it! 

This could be the last big push to steal as much as they can. Going electronic is going to crimp their style.  

[DinarThug]

2 hours ago, DinarThug said:

Saleh Saleh: Iraq is on the verge of a banking boom

26/4/2018 12:10 am 

 

Baghdad / Al-Sabah 

The start of the financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure from where the world ended, and promote the national economy through interaction with all Segments of society without exception to be the results in favor of the national economy through the positive interaction between the banking system and the citizen 
The activities of the week of inclusiveness have been launched for seven days, targeting all segments of society and in different places and sectors. This interest stems from the important positive role of financial coverage in the reality of the national economy. 

Financial services 
Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh praised the step and promised the task and promote the Iraqi financial sector and said: "As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments of society, a renaissance led by the government and the Central Bank together to make the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. " 
"Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today," he said, adding that "the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. " 
"Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era," Saleh said. 

Banking Education 
Director General of Payments at the Central Bank of Iraq, Souha Abdul Karim, has shown "the Central Bank's efforts to develop the financial and banking sector through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society," noting that "In this framework Comes attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the education of banking services, especially for women, as well as to the segment of students, whether schools or universities, which are considered effective tools for the dissemination of culture and combating banking illiteracy. 

Mainstream products 
Executive Director of the Association of Iraqi Private Banks Ali Tariq said: "The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector." 
Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties. 
"Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy. 

Electronic payment 
He added that "the Central Bank and the Association of Private Banks directly supervise the organization of the week of financial inclusion, which was launched in conjunction with the Arab countries," noting that "Iraq wants to increase the number of customers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public of loans and payment electronic 
And others. " 
Tarek pointed out that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that they deem appropriate from universities 
And commercial centers and others, "noting that" the banks will during the week of financial inclusion to open bank accounts and the granting of credit cards 
And others. " 
Development Agenda 
International Financial Inclusion Expert Sadiq al-Shammari stressed that "it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. " 
International statistics for 2014 show that nearly one billion of the world's adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular. 
"The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage," he said. 

Direct effect 
Director of relations of the South Islamic Bank Gamal Shaker al-Rubaie that "the speed in the changes and technological competition puts the media at the forefront of direct influence on public opinion because the role of the media is to create cultural awareness and a general direction in the community." 
"Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. " 
He stressed that "financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support system" rel="">support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards. 

Short loans 
"Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity," said Haidar Kazem al-Baghdadi. 
"Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. " 

Economic life 
In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari. Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion. 
The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns. 

link

 

Saleh Saleh: Iraq is on the verge of a banking boom

26/4/2018 12:10 am 

 

Baghdad / Al-Sabah 

The start of the financial institutions to work on the dissemination of services among the Iraqi community in conjunction with the week of Arab financial inclusion, which started yesterday in most Arab countries, represents an important step to communicate and benefit from regional experiences and start the stage of departure from where the world ended, and promote the national economy through interaction with all Segments of society without exception to be the results in favor of the national economy through the positive interaction between the banking system and the citizen 

The activities of the week of inclusiveness have been launched for seven days, targeting all segments of society and in different places and sectors. This interest stems from the important positive role of financial coverage in the reality of the national economy. 

Financial services 
Financial Advisor to the Prime Minister Dr. The appearance of Mohammed Saleh praised the step and promised the task and promote the Iraqi financial sector and said: "As far as the financial coverage to mean in essence the delivery of financial services to weaken the income segments of society, a renaissance led by the government and the Central Bank together to make the issue of the resettlement of government salaries, which constitute With pension payments and social security, accounts for about 45 percent of GDP. " 
"Banking mechanisms and the benefits of using electronic payment methods for banking will help expand the phenomenon of financial coverage to double what it is today," he said, adding that "the number of adults involved in banking operations will exceed 20 percent of the adult population, Credit and the granting of loans with the guarantee of home salary will also increase public abuse with the banking system. " 
"Iraq is on the verge of a banking boom in the next few years and this renaissance will be able to achieve its objectives thanks to the rapid progress of banking information technology in the digital banking era," Saleh said. 

Banking Education 
Director General of Payments at the Central Bank of Iraq, Souha Abdul Karim, has shown "the Central Bank's efforts to develop the financial and banking sector through the development of infrastructure that enable financial institutions and banking to improve services and accessibility by all segments of society," noting that "In this framework Comes attention to the week of financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical way to contribute to the education of banking services, especially for women, as well as to the segment of students, whether schools or universities, which are considered effective tools for the dissemination of culture and combating banking illiteracy. 

Mainstream products 
Executive Director of the Association of Iraqi Private Banks Ali Tariq said: "The activities of the Week of Financial Inclusion started yesterday in all parts of Iraq, in order to increase the dealings with the banking sector." 
Financial inclusion means that the financial and banking products and services are at reasonable cost to the largest group of groups, institutions and individuals, especially low-income segments of society, as opposed to the financial exclusion that excludes these segments. Financial inclusion requires the capacity to exclude these segments and the ability of individuals and institutions to obtain On financial services and their effective use in a responsible manner and financial inclusiveness without financial education. The conscious consumer is more aware of the risks and rewards associated with financial products and more aware of his rights and duties. 
"Tariq will witness the launch of the Financial Inclusion Week, which involves all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage, which will reflect positively on the economy. 

Electronic payment 
He added that "the Central Bank and the Association of Private Banks directly supervise the organization of the week of financial inclusion, which was launched in conjunction with the Arab countries," noting that "Iraq wants to increase the number of customers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public of loans and payment electronic And others. " 
Tarek pointed out that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that they deem appropriate from universities 
And commercial centers and others, "noting that" the banks will during the week of financial inclusion to open bank accounts and the granting of credit cards And others. " 

Development Agenda 
International Financial Inclusion Expert Sadiq al-Shammari stressed that "it represents an important dimension in the overall and sustainable development strategy because it has an impact on improving the chances of growth and financial and social stability. The G-20 has shown an important goal in the economic and financial development agenda. Financial for all by 2020 for its effective role in fighting poverty and reducing unemployment worldwide. " 
International statistics for 2014 show that nearly one billion of the world's adult population still do not have access to financial services, although the global average of adults with bank accounts has increased to 62 percent from 51 percent in 2011, according to the Global Financial Services Circular. 
"The rapid and rapid development of ICT has contributed to the emergence of many innovative financial services and business models such as mobile banking and branchless banking, as well as improved access to individuals and enhanced financial coverage," he said. 

Direct effect 
Director of relations of the South Islamic Bank Gamal Shaker al-Rubaie that "the speed in the changes and technological competition puts the media at the forefront of direct influence on public opinion because the role of the media is to create cultural awareness and a general direction in the community." 
"Today, the media has diversified, thanks to scientific progress. Perhaps scientific studies have given the media many ways and means to influence the public opinion. This task is not easy and at the same time is not impossible because the convictions are different towards the goal pursued by any institution. And acceptable. " 
He stressed that "financial inclusion will impose itself when banking culture is an important part of the life of the individual and to support that step we have to provide infrastructure for various sectors to facilitate dealing with them very easily and be close to the reach of the individual in the city or village, I am in order to break the frequency of some and the banks to create attractive ways to attract the customer and graduated from traditional frameworks inherited through contracts while retaining lines of safety and confidence and banking standards. 

Short loans 
"Financial inclusion requires a comprehensive range of financial services including bank accounts, savings, short and long term loans, leasing, mortgages, insurance, salaries, payments, local and international remittances and retirement plans, as well as the protection of the problem and the strengthening of financial capacity," said Haidar Kazem al-Baghdadi. 
"Expanding participation in the formal financial system or achieving financial inclusion is not an end in itself but a means to achieve an objective because of its important developmental role in human development, improving the standard of living, empowering women, promoting equal opportunities, financing small and medium enterprises, reducing poverty, Thus achieving comprehensive and sustainable economic growth. " 

Economic life 
In conjunction with the event, the International Company for Smart Card (K-Card) organized a workshop on the dimensions of financial inclusion and importance in economic life, and participated a large number of employees of the company in this workshop, which was attended by international experts, Sadiq Rashed Al-Shammari. Participants reviewed the stages of interest in the economic life of the family and the national economy through reliance on financial inclusion, and presented successful global experiences in this important chapter and how some economies have been able to achieve important successes through financial inclusion. 
The participants interacted with this step, where consensus was reached on the importance of working towards spreading awareness among the community about financial inclusion and its role in achieving development for all segments of society and in all cities and towns. 

link

[DinarThug]

2 hours ago, DinarThug said:

Arab Day for Financial Inclusion

26/4/2018 12:10 am 

 

Dr. Basem Ibrahimi 

Three years ago, the Arab countries celebrated the Arab Day for Financial Inclusion, which was set on April 27, coinciding with the founding day of the Arab Monetary Fund. The festivities usually take place over a period of a week, in which a number of activities and activities of financial coverage are organized through the promotion of financial services available at banks. Each country as well as holding seminars and educational programs on the subject. It was customary to focus during the celebrations on the target chosen by the regional team of the Arab Monetary Fund, and this year's celebrations are under the slogan (Enabling access of young people and pioneers To financial services). 

The concept of financial inclusion includes the ease of access to financial services at the lowest cost by all segments of society.
This topic is today an important step that many countries are working to achieve through the development of studies and strategies related to the subject because of its many objectives, especially the promotion of economic growth and thus reducing unemployment Increase income.

 

The work of the Central Bank of Iraq during the past year to form a team for financial inclusion to prepare a draft strategy for the subject for the years 2018-2020 has been completed and work on implementation since the beginning of this year to reach the goal of President is to increase the proportion of financial coverage in Iraq from 11% To 20% as a first stage. In addition, it was agreed with the Arab Monetary Fund to provide the necessary technical support system" rel="">support to build a long-term strategy that includes several objectives to cover the financially excluded members of the society. This is a major role in promoting economic growth. International financial data for a large sample of countries that have implemented the concept of financial inclusion, which today more than eighty countries. 

In order to achieve the goal of financial inclusion and the celebration of its activities, financial awareness and economic information play an important role in this context. Recent research indicates that individuals' awareness of financial issues is a factor in the success of financial coverage regardless of the level of progress of their countries. With adequate support system" rel="">support through the contribution of all media to the coverage of its activities.
link

 

Arab Day for Financial Inclusion

26/4/2018 12:10 am 

 

Dr. Basem Ibrahimi 

Three years ago, the Arab countries celebrated the Arab Day for Financial Inclusion, which was set on April 27, coinciding with the founding day of the Arab Monetary Fund. The festivities usually take place over a period of a week, in which a number of activities and activities of financial coverage are organized through the promotion of financial services available at banks. Each country as well as holding seminars and educational programs on the subject. It was customary to focus during the celebrations on the target chosen by the regional team of the Arab Monetary Fund, and this year's celebrations are under the slogan (Enabling access of young people and pioneers To financial services). 

The concept of financial inclusion includes the ease of access to financial services at the lowest cost by all segments of society.

This topic is today an important step that many countries are working to achieve through the development of studies and strategies related to the subject because of its many objectives, especially the promotion of economic growth and thus reducing unemployment Increase income.
 

The work of the Central Bank of Iraq during the past year to form a team for financial inclusion to prepare a draft strategy for the subject for the years 2018-2020 has been completed and work on implementation since the beginning of this year to reach the goal of President is to increase the proportion of financial coverage in Iraq from 11% To 20% as a first stage. In addition, it was agreed with the Arab Monetary Fund to provide the necessary technical support to build a long-term strategy that includes several objectives to cover the financially excluded members of the society. This is a major role in promoting economic growth. International financial data for a large sample of countries that have implemented the concept of financial inclusion, which today more than eighty countries. 

In order to achieve the goal of financial inclusion and the celebration of its activities, financial awareness and economic information play an important role in this context. Recent research indicates that individuals' awareness of financial issues is a factor in the success of financial coverage regardless of the level of progress of their countries. With adequate support through the contribution of all media to the coverage of its activities.

[csd9013]

55 minutes ago, DinarThug said:

Iraq is on the verge of a banking boom in the next few years

I was hoping for sooner than the next few years. Is the "next few years" the new soon?

[10 YEARS LATER]

40 minutes ago, csd9013 said:

I was hoping for sooner than the next few years. Is the "next few years" the new soon?

 

For these foot draggers . . . " Next few years " is probably pretty quick. No doubt there will be a few " postponements " so they can discuss at some length whether or not the " next few years " might just be a little " Too Soon " 

[DinarThug]

LINK

Investment Baghdad: Arab countries want to enter the Iraqi market to invest in it

 

 25th April, 2018

The Chairman of the Investment Commission of Baghdad, said that Arab countries are currently working to enter the Iraqi market and investment in them, stressing that the ministries are obliged to define their land for investment

"There are international discussions with Arab companies including Saudi Arabia, Kuwait and the UAE to enter the Iraqi market and invest in it," Shaker al-Zamili, chairman of the board, told Al-Iktissad News

He added that "many delegations that visited Iraq surprised by investment facilities through the investment law that supports the foreign investor and treats him as the Iraqi investor," pointing out that "the picture was reaching the foreign investor incorrectly about the situation in Iraq . "

Al-Zamili pointed out that "the red tape and bureaucracy facing some foreign investors also affected the work of investors, and the government is currently working to end this through the activation of one window."

He stressed that "the amended investment law committed all the ministries of the state to limit its land and give it to the National Investment Commission and then to the investment bodies in the provinces to prepare an investment map . "

•  

 

4 hours ago, ChuckFinley said:

Thanks Thug!   It is very important that these countries follow through. SA has been a big supporter of Iraq. Nothing would be more destructive than having Iran's Maliki get elected. 

 

Yep - U Nailed It Chuck !  

 

 

Now Does Anybody Have A Light So That I Can Set Off That Banking Boom ?  

 

 

     

[DinarThug]

Visit of the Japanese Ambassador to the Central Bank of Iraq

April 25, 2018

 

The Governor of the Central Bank of Iraq, Mr. Ali Mohsen Ismail, received Japanese Ambassador to Iraq Mr. Fumio Iwa. During the meeting, the two sides discussed ways to enhance financial and banking relations between the two countries,

 https://cbi.iq/news/view/682

[DinarThug]

7 hours ago, DinarThug said:

Dollar rises to 4-month high

 

2018/4/25 13:40

 

The dollar reached its highest level in four months on Wednesday, after an increase in yields standard US Treasury bonds to exceed three percent , which had a negative impact on some of the currency debate, while not helped a mixed picture of surveys euro companies before the meeting of the European Central Bank.

 

Asian shares fell on Wednesday, after big selling in the US market and warnings from US companies about rising costs, fueling concerns that corporate profits may be coming to an end.  The dollar index, which measures it against a basket of six major currencies, rose 0.4 percent to 91,093. The index rose overnight to 91.076, its highest level since Jan. 12, before a drop in US equities led investors to lower risk appetite. 

Against the yen, the dollar hit a two-month high of 109.20 yen hit in the previous session. The dollar was just below that level at 109.18 yen, up 0.3 percent from the previous session. Sterling fell 0.2 percent to $ 1.3947. The British currency fell to a one-month low of $ 1.3919 on Tuesday before rising 0.3 percent on news of a possible takeover by British drugmaker Takeda of Britain's Shire.  The Australian dollar was down 0.4 percent at $ 0.7569, falling to a four-month low.  New Zealand dollar losses, which fell to $ 0.7102, the lowest level since Jan. 4.

 

Why the dollar is the strongest currency in the world?

 

 

 

 23 April 2018 06:10 PM

From - Noha Al-Nahhas:

Mubasher: An action announced last week by Iran to replace the use of the US dollar by the government in its foreign transactions in the single European currency, raises the question: Is it possible to dispense with the green card in the global monetary system?

For many years, the US dollar is the most powerful currency in the world, and the official in the central banks in their cash reserves, along with gold metal, which is finally in dollars.

The green card's acquisition of that position for years without a real competitor made it difficult to have a strong alternative, even though the US dollar reserves fell to a four-year low in the fourth quarter of last year.

How has the dollar become the world's first currency?

The reliance on the dollar as the main reserve currency in the world is not due to the position of the US economy on the global economy, because in this perspective the US currency will lose in competition.

The reason for this is that since the Second World War, the US share of global GDP has fallen from about 30% to 18%, surpassing China's share by only 2%, and the share of emerging markets in global GDP increased from 40% to 60%.

Despite all that, the global financial policy has not changed in accordance with those developments and the dollar has maintained its status, and the password is "Bretton Woods".

Bretton Woods is a historic agreement on cash exchange rate management, and the name of the agreement was attributed to the place where it was held in 1944, whereby the US dollar became the currency of the world's cash reserve and linked to the price of gold metal.

Under the agreement, central banks will maintain fixed exchange rates between their currencies and the dollar. In return, the United States will replace the US dollar with gold on demand.

The system continued to function until August 15, 1971, when US President Richard Nixon declared a halt to the replacement of the dollar with gold, the most important element of the Bretton Woods system.

Then, in 1973, foreign governments allowed the currency to float, putting an end to the Bretton Woods system.

Until the 1970s, about two-thirds of world GDP was based on the dollar, and the rest was largely divided between the British pound and the Soviet ruble.

Why the dollar is the strongest?

Many reasons have led the dollar to be on the list of the strongest currency at the level of the year, unlike the size and strength of the US economy.

Among these reasons is that more than a third of the world's gross domestic product comes from countries that link their currencies to the green card, of which 7 are officially dollar-dependent.

Foreign exchange market .. More than 85% of that trade is based on the dollar, and 39% of the world's debt is issued using the US currency.

Iqbal countries to retain the US currency in their reserves and acquisition of the first place in this regard, evidence of the strength of the US currency, as well as its use in international transactions.

Most of the global commodity contracts are denominated in US dollars, especially oil and gold, which are the world's most important commodities, making the transactions of these commodities using green paper.

The US currency has always been able to overcome its pitfalls during the 1970s and 1980s, and from 1991 to 1993.

Although everyone was betting on the collapse of the dollar, and many governments thought to end the link currency in the US, it was stronger than the first.

Are there competitors?

In March 2009, China and Russia called for a new global currency that would become the currency of the world's reserve currency, independent and non-volatile, as well as removing the shortcomings resulting from the use of national currencies linked to credit.

China has already called on the International Monetary Fund (IMF) to do so as a result of concerns that its trillions in US currency would become less valuable as a result of the US spending deficit and the issuance of US Treasury bonds to support debt.

Some countries have also tended to keep currencies other than the dollar in their cash reserves, with the yen holding in state reserves rising to the highest level since 2002 at 4.89% in the fourth quarter of last year.

The Chinese yuan also entered the reserve currency of the countries in the fourth quarter of 2016, and the total holdings of countries from the Chinese currency to 1.23% in the fourth quarter of 2017, compared to 1.12% in the previous quarter.

As the yuan entered the IMF's Special Drawing Rights (SDR) currencies, many considered it could replace the dollar as the world's top currency, but the fact that it has been less frequent in trade and Chinese rules on exchange has played down that belief.

The Central Bank of China rules to set a reference rate for the yuan daily and only allows a margin of rise or fall of 2% of this level.

link

[DinarThug]

The Iraqi Payment System has not experienced a breach or a problem

 

Governor of Central Bank Ali Al-Alaq «Economy News»

 

25/04/2018

 

Economy News Baghdad:

 

The governor of the Central Bank Ali al-Alaq, that the Iraqi payment system did not witness a violation or a problem because it is considered one of the best systems in the world.

"The payment system in the Central Bank of Iraq is one of the best in the world and has not witnessed a breach or a problem over the past period," he said during an interview with Visa International in Baghdad.

He added that "the elements of safety and permanence and accuracy in the operations within the payment system has made it one of the best systems in the world," noting that "the settlement processes carried out by the payments system amounts to more than 14 trillion dinars per month."

link

[DinarThug]

ladyGrace'sDaddy

• Senior Member
• 

 

On 4/24/2018 at 11:34 AM, ladyGrace'sDaddy said:

 And this is exactly what your post was designed to do. Make me look like I'm so upset about this investment and get me to say something so that Markinsa can go to Adam and say that I'm not acting like a Mod should.

 

LGD Just Doesn't Want To Have To Be Subjected To An Internal Mod Review For Probable 'Claus' !  

 

     

[DinarThug]

This Is From Samir Nusairi The Author And Economist Who Had The CBI Governor Alak Attending His Signing At The Baghdad Book Fair Last Month ...

 

 

 

LINK

Banking integration is one of the pillars of the advancement of the banking sector

 

 

26th April, 2018

In the last monthly meeting of the banking leaders with the governor and officials of the Central Bank, stressed the sovereignty of the expectations of the continuation of the exchange rate and the recovery of the Iraqi dinar and this goal will remain one of the central bank's basic objectives, which requires banks sooner or later leave the total dependence on the window selling foreign currency and Time to move on to the practice of real banking which is to provide modern banking products to the public and provide the best services to customers and work to increase the proportion of financial coverage. And that the banking sector has a key role in the development and revitalization of the economic cycle. He pointed out that the stability of the exchange rate should not make banks fear for their future in the banking market and should begin by practicing their banking activities regardless of the existence of the window or stop it. Which is to be addressed by the Governor and what we should address here is the suffering of the Iraqi banking sector, in particular the private banking sector (private) of the aggravation of its problems and inflation because of the shocks of economic and security suffered by Iraq during the years (2015-2017) And thus led to the weakness and suspension of the economic cycle in the country, which was the weakness in the financial banking activity, its clear implications on the macroeconomic movement if not find solutions to effective and rapid all the repercussions and economic challenges in addition to the adoption of most of the For banks on the window selling foreign currency in the receipt of their revenues and through the study and analysis of the reality and the reasons and expected results during 2018

The study and analysis of the results of the private banks in light of their official financial indicators in 2017 compared to last year, we note the decline in its financing and investment in the service of the national economy through the weakness of its contribution to GDP, which amounted to 16% cash credit to GDP and the continuation of deposits and assets at the same rates Compared with the government banks as well as the decline of shares in the Iraqi market for securities by (50% - 75%), which involved the work of banks in providing the best services to citizens, so there must be quick and radical solutions to promote private banks and their development

We believe that one of the important and fundamental solutions to overcome the problems of the Iraqi banking sector, which is currently faced by most private banks, is to seriously consider the direction to study and analyze the results of business and financial indicators of the Iraqi banking sector and its assessment and classification according to international standards by international companies specialized as other countries and focus on the assessment on deposits, Financial, capital and reserves, revenues of internal and external banking operations, realized profits and more importantly the economic expectations of the continued repercussions of the financial crisis experienced by the country in light of the changes and Global economic fluctuations based on the involvement of banking experts in the private sector and benefit from their experience and the World Bank reports on the overall financial situation in Iraq to come out of the outcome of the decisions important to the development of the Iraqi banking sector and one of the first solutions

Classification of banks to three levels :

First: Large banks, their financial position and their financial and financial position are good .

Second: Medium-sized banks, their position and their financial position are medium and capable of developing .

Third: It includes banks that suffer from weakness in their banking activity and the drop in liquidity rates

After the announcement of the results of the assessment, the Central Bank shall notify the third-ranked banks of optional merger in agreement with another bank or more of the same rank in accordance with Article 150 of the Companies Registration Law No. 21 of 1997 and within a period not exceeding the first half of this year. Compelling these banks to compulsory integration and in both cases must be defined concepts and procedures for the integration of banking as follows :

1. Definition of banking integration

(A decision of the Central Bank) and dissolve it in a single banking entity and that the new entity has the ability and effectiveness to achieve the goals of integrated bankers and the objectives of monetary policy and the national economy .

2 - Types of banking integration

(A) Optional (friendly ) integration

This kind of merger is done by agreement and the will of one or more bankers matches after negotiations and agreements between the board of directors and the public bodies of the two banks or more after the economic feasibility study in all respects and what the new entity will achieve with all the obligations and obligations of previous customers .

B. Compulsory (compulsory )

This is done by issuing a decision from the Monetary Authority (Central Bank) after reaching full conviction that the target bank is faltering and in order to preserve it from imposing or liquidating it for the purpose of preserving the shareholders' rights and the extraordinary circumstance experienced by the Iraqi economy. With the help of the monetary authority to provide incentives to the troubled bank such as tax exemptions and grant aid loans in return for clear and specific guarantees .

3. For the purpose of success of the process of banking integration requires :

Provide data and information in accordance with the principle of disclosure and transparency of each of the banks involved in the merger

Feasibility study and expected results at the time of merger. These studies shall be evaluated by the Monetary Authority before the merger decision is taken .

4 - to carry out financial and administrative structure of the target banks before the merger process and identify the technical and administrative manpower needed to manage the new entity .

5 - The banking mergers if carried out in accordance with the above will achieve the following : -

A - Increase the capacity of the new bank to activate its banking activities in all fields, most notably the rise in capital and revenues of banking operations and financial center .

B - Increase the net profits that result in increasing the value of its shares in the stock exchange and increase deposits and increase the number of customers and increase the number of depositors and thus enhance confidence, which is the most important thing in banking .

C- The new bank's commitment to fulfill all its previous obligations towards financial institutions and customers .

[DinarThug]

https://cbi.iq/news/view/683

Instructions for the business continuity management system in the Iraqi banking sector in accordance with international standards ISO 22301

 
April 26, 2018

 

 
 

To all licensed banks (the instructions of the business continuity management
system in the Iraqi banking sector in accordance with the international
standards ISO 22301 ) ... Click here

 

Page 1

For the Iraqi public, the building is the best center
Republic Of Iraq
CENTRAL BANK OF IRAQ
The Banking Control Department is very accurate in information technology in banks and companies
Number: Date:
D
(1)
NO: Date:
To the banks approved all the instructions / business continuity management system in the Iraqi banking sector in accordance with the international standard
ISO 22301
good greeting
In implementation of the strategic plan of the Central Bank of Iraq 2019-2020, the following are the instructions of the business continuity management system to address risks in the Iraqi banking sector in accordance with international standard 22301
ISO defines the requirements for key business continuity principles to address potential risks and describes disaster recovery and impact measures. The International Business Continuity Management System (BPMS) standard sets, clarifies, evaluates and analyzes high-quality preparation and implementation in the face of risks, threats and banking operations, and As follows: First: Responsibility of the Board of Directors and Executive Management. Direct the preparation and implementation of the business continuity plan to address the risks in accordance with the international standard 22301 ISO from the date of the issuance of these instructions and in cooperation with the Central Bank of Iraq b. Compliance with operational risk monitoring and follow-up of the Business Continuity Management and Disaster Recovery System
And crises have been verified the adequacy and efficiency of the actions taken in the backup process and make sure to keep the last copy
Updated systems, software, applications and databases to address potential disasters and potential loss
data. W. Secure the required resources from hardware, systems, software and applications as well as the required human resources
Provide high quality and efficient implementation of business continuity plan c. Prepare a list of key persons and their assistants, including their addresses and ways of communicating with them with a view to managing different
The work to be carried out in the business continuity plan and the distribution of tasks according to the principles and quality standards. H. Proper and appropriate training of persons concerned and preparation for the operation of the business continuity plan. Choosing the alternative location where the bank's business is managed at the time of disasters and running a continuity plan
This selection shall be in accordance with approved international standards and quality standards in terms of site selection, equipment, systems and human resources required
(4-1)
CBI Head Office - Al-Rasheed St. Baghdad- Iraq
Al - Bint Center: Al - Rasheed Street - Baghdad - Iraq Tel: 8115171 Central switch with four lines PO Box 14, FAX 199802
Mail and chiacbi
. i
Line and
Tel: 8165171 Telephone Exchange Withi
PO Box: 64 Fax: 00964 181 66802 E-Mail: cbicbi.iq

Page 2

Dr.. Conduct periodic tests to check the quality of performance of business continuity plan in the face of risks and confirmation
The efficiency of the persons involved in the implementation, the examination of the performance of the equipment and the testing of the coordination of work between the Bank
Alternative location and all branches of the bank and save the evaluation of the results and the date of the test. Y. Updating and approving the Business Continuity Plan in the face of risks and their amendments. Second: The main operations stopped to avoid the interruption of operations, taking into account the following: a. Identify different types of risks that cause downtime, identify and arrange all major operations,
And work on the need for continuity, and build a business continuity plan in the face of risks in accordance with the international standard 22301
ISO. P. Different classification of risks
- Natural hazards and accidents
- Risks and crises resulting from human action from within or outside the bank C. Assessing various operational risks and calculating their degree of importance to ensure business continuity in the face of risks. Analysis of the effects of the suspension of operations in accordance with the International Standard Indicative 22317
ISO and conduct studies down to appropriate sources to restore the operation w. Need to take the following main things
1. The business continuity in the bank is within the normal daily business and is characterized by the necessary flexibility
Risk and be documented and distributed to stakeholders to ensure their knowledge of the procedures 2. Determine the priority and degree of importance of the risks of potential operations and the occurrence of their cessation of work
And assess the effects of this downtime. 3- Evaluate the degree of the size of the various risks on the operational operations or that may be exposed to the bank. 4. Evaluate the impact of the cessation of operations and the calculation of losses, and assess the gap and calculate the sufficient time
To be run in accordance with the Business Continuity Plan in the face of risks, the Business Continuity Plan is effective, sophisticated, flexible and fast in dealing with the update
Equipment, systems and responsibilities Minimize the negative effects of discontinued operations
. Analysis of the effects of operational downtime and retention of copies of this analysis III. Explain the location of the alternative site and disaster recovery sites and determine the powers and duties
Responsibilities in business continuity, operational recovery and operational performance
And coping with the risks of interruption of operation. Specify alternative site specifications that must be compliant with the approved global standards in terms of identification
Location and operating mechanism ... etc. Ensure the adequacy of the security requirements and the specific and accurate information on the alternative site.-Prepare and equip the alternative site with the necessary equipment and systems and the necessary number of good cadres concerned.
And their assistants and ensure their ability to accomplish various actions, and after confirmation of the alternative site is transferred information to restore the operation of important banking operations and maintain during the time of risk in public administration

Page 3

C. Prepare an electronic storage unit that measures all banking operations and can be transferred in the face of risk-making
To ensure that data are not lost. H. Direct transfer procedures and operations from the public administration after the successful recovery of operations from
Alternative location and the demise of the danger IV: Communication at the local level:
Or all banks must take concrete measures to ensure the operation of telecommunications networks and the need for continuity
And secure them with all branches and alternative location in the face of risks when the operations stopped b. Appoint communication officers, networks and their assistants and define their responsibilities and powers in public administration
Alternative location and all branches and coordination with various operational and administrative bodies. Developing communications and networks and modernizing data protection systems with the latest technical means. Test communications and networks periodically and ensure the capabilities, and the efficiency of the workers c. Continued direct contact between the general administration of the bank and the alternative location and coordination of contacts with branches
Fifth: Third Party Communications:
a. The bank must secure communication with its branches outside of Iraq, but all banks should take into account the cessation of one of its branches outside Iraq subject to the instructions of the State
There should be coordination between the management of the bank and the central bank to communicate with the branch of the bank outside of Iraq by understanding the means of communication in advance and ensure continuity of communication in the face of risks
Following the interruption of operations
W. Keeping up with international policies and communicating with global events to avoid the effects of the interruption of operations
a. Conducting the business continuity plan testing and testing at the bank by implementing the plan's practice to ensure
Of the bank's ability to meet the risks and save the test results. The tests shall be conducted periodically according to the type of testing and testing of the business continuity plan. The business continuity plan test for risk is either by reconciliations or by examination
Updates and identify business continuity plan needs and ensure their quality w. Evaluate the ability and effectiveness of business continuity plan testing by the internal audit of the bank and the auditor
In the light of the risk-based auditing standards in coordination with the Bank's management and to raise the results
To the Central Bank of Iraq c. The Central Bank shall ensure the efficiency and quality of the alternative location of all banks to ensure the operation of operations
Banking in cases of downtime and to ensure that risks are met
H. Seventh: Review the business continuity management by the CBI
All banks should prepare, implement and develop business continuity plan in the face of risks
The above principles are to be implemented in cooperation with the Central Bank of Iraq

Page 4

2 - Send a detailed report to the CBI showing the stages of the business continuity plan in the face of
Risk The preparation of the plan includes working levels in all banks in a period not exceeding one month
From the date of issuing these instructions. Commitment to implement the business continuity plan stages in the face of risks and send quarterly reports
To the Central Bank shows the achievements of the plan so that we can review, follow up, control and audit
Testing and evaluation). This plan is fully implemented in all banks within a maximum period of nine months from the date of issue
And published these instructions on the official website of the Central Bank of Iraq
with respect
Conservative Agency
2018/4/19
Copy to /. |
. Departments and sections of the bank all with the branches of Basra / Mosul Arbil, to see, with appreciation

 

[DinarThug]

LINK

Kuwait confirms its support for the reconstruction of liberated cities in Iraq

 

 

26th April, 2018

Kuwait's Ambassador to Ankara Ghassan Yousef Al-Zawawi confirmed on Thursday his country's support for the reconstruction of liberated cities in Iraq.  "The Ambassador of the Republic of Iraq to Turkey, Hussein Mahmoud Al-Khatib, met with the Ambassador of the State of Kuwait, Ghassan Yousef Al-Zawawi, in his office in Ankara," the Foreign Ministry said in a statement. Issues of common concern ".

Al-Khatib expressed his appreciation of the Kuwaiti government's support for Iraq in its war against terrorism. He praised Kuwait's role in hosting the donor conference organized last February to reconstruct the cities liberated from the terrorist organization. 

For his part, the Kuwaiti Ambassador welcomed Khatib and congratulated him on the occasion of receiving his duties and presenting his credentials as Ambassador of the Republic of Iraq in Turkey, stressing the depth of the historical relations between the two countries and the support of his government for Iraq in its efforts to reconstruct the liberated cities. In all Iraqi cities. "

 

 

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LINK

Kuwait confirms its support for the reconstruction of liberated cities in Iraq

 

 

26th April, 2018

Kuwait's ambassador to Ankara, Ghassan Yousef al-Zawawi, confirmed on Thursday (April 26, 2018) his country's support for the reconstruction of liberated cities in Iraq. 

"The Ambassador of the Republic of Iraq to Turkey, Hussein Mahmoud Al-Khatib, met with Kuwaiti Ambassador Ghassan Yousef Al-Zawawi in his office in Ankara. The meeting discussed bilateral relations and means of enhancing them to serve the interests of the two brotherly peoples and discuss issues of common interest," the Foreign Ministry said in a statement. 

Al-Khatib expressed his appreciation of the Kuwaiti government's support for Iraq in its war against terrorism. He praised Kuwait's role in hosting the donor conference organized last February to reconstruct the cities liberated from the terrorist organization.

[DinarThug]

https://cbi.iq/news/view/684

Press Release issued by the Board of Governors of Central Banks and Arab Monetary Institutions

 

April 26, 2018

 

 

  Press release

Issued by

Council of Governors of Central Banks and Arab Monetary Institutions

About

"Arab Day for Financial Inclusiveness"

April 27, 2018

The Council calls for enabling young people and entrepreneurs to access financial services

Strengthening the levels of financial inclusion in Arab countries is an important focus of the Central Bank and Arab Monetary Fund's Board of Governors, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare. In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its implications for all parties in the Arab countries, the Council adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, which is celebrated this year under the slogan " Business to Financial Services ". In this context, the Council appreciates the steps and actions taken by the Arab States to promote financial inclusion and reaffirms the need to integrate all sectors of society and its sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access and use of financial services and products To meet their needs with reasonable costs and conditions, to protect their rights and to enhance their knowledge and awareness of financial matters so that they can make the right investment decision.

The Council also affirms the role of central banks, Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the enactment of laws and legislations aimed at promoting the spread of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand. Policies and policies to address them and stimulate the private sector and financial and banking institutions and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities.

The Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched various activities and initiatives in cooperation with the relevant regional and international institutions. These efforts have been further strengthened by the launch of the Arab Monetary Fund in cooperation with a number of regional and international institutions under the umbrella of the Council, the Regional Initiative for the Enhancement of Financial Inclusion in the Arab Countries ( FIARI)) In order to enable and strengthen capacities and possibilities to overcome the obstacles to improving indicators of financial inclusion in the Arab countries. The initiative includes many activities that focus on supporting young people, empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. On this occasion, the Council calls upon the regional and international institutions to cooperate and coordinate among themselves within the framework of this initiative, which will contribute to support the efforts of the authorities in the Arab countries.

In addition to achieving the objectives of national strategies for financial coverage and finding solutions to core issues, the Board stresses the importance of following up on the development of modern financial infrastructure, the completion of the relevant legislation, regulations and laws, and the promotion and provision of sophisticated financial products and services to meet the needs of the target groups. In this context, the Council emphasizes the importance of shifting from traditional financial services to modern means and tools and utilizing modern financial techniques in the development of digital financial services and enhancing their spread in the Arab countries.

In conclusion, the Council calls on all Member States to revive the activities of the Arab Day for Financial Inclusion by implementing activities and activities that enhance and clarify the vision of financial inclusion and its objectives, wishing success and success to the activities and activities of the Arab Day for financial inclusion and achieving the desired objectives in terms of enabling the entrepreneurship sector. And emerging companies. 

[DinarThug]

LINK

National Investment Authority: 1100 investment projects currently in Iraq

 

26th April, 2018 - Chairman of the National Investment Authority Sami Araji

 

The head of the National Investment Authority, Sami Araji, that the investment map in Iraq during the current year included 1100 investment projects across Iraq.

"The projects contained more than 1,100 small, medium and large investment projects," Al-Araji said in his speech at the Investment Opportunities Forum in Baghdad. "The forum is considered complementary to the Kuwait conference and continuing discussions with investment companies and the private sector."

[DinarThug]

LINK

With the participation of 150 Arab and foreign companies .. Launch of the Forum of investment opportunities in Baghdad

 

 

 

26th April, 2018

 

On Thursday morning, the Investment Opportunities Forum in Baghdad opened with the participation of 150 Arab and foreign companies.

The conference will discuss investment opportunities in the liberated areas and reconstruction efforts, as well as investment opportunities in the southern regions.

The meeting was attended by the representative of Prime Minister Mahdi Al-Alaq and Ali Al-Alaq, Governor of the Central Bank, Oil Minister Jabbar Ali Al-Laibi, Minister of Planning and Trade Salman Al-Jumaili and representatives of Arab and foreign companies.

 

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LINK

Foreign companies sign agreements to establish projects at the investment forum in Baghdad

 

2018-04-26 at 11:48 (Baghdad time)

 

 

The National Investment Authority signed on Thursday agreements to establish investment projects with foreign and Arab companies during the Investment Opportunities Forum in Baghdad.

"On the sidelines of the Investment Forum in Baghdad, the Authority, represented by its chairman, Sami al-Araji, signed contracts with investment with foreign and Arab companies to invest in Iraq," the correspondent of Mawazin News said.

He added that "the conference is still going on," pointing out "the presence of government figures at the conference."

On Thursday morning, the Investment Opportunities Forum in Baghdad opened with the participation of 150 Arab and foreign companies.

[DinarThug]

https://cbi.iq/news/view/685

The CBI signs a memorandum of understanding with Visa International

 
April 26, 2018

 

 

 

The Iraqi Central Bank, represented by His Excellency Mr. Ali Mohsen Ismail, signed a Memorandum of Understanding (MoU) with Visa International, which granted membership to more than 16,000 financial institutions worldwide to establish the legal and regulatory framework for work in Iraq

 Where Visa will be able to contribute to the smart ambitions set by the Central Bank of the Iraq market

This memo helps to build a strategic partnership with Visa to contribute to the development of the electronic payment environment in the community in terms of technical, organizational, awareness, transfer of expertise and benefit from the innovations of the company 

Visa International, represented by Mr. Tarek Al Husseini, General Manager of Visa North Africa and Levant, and the accompanying delegation, expressed interest in the strategic direction of the Central Bank of Iraq in terms of payments and electronic systems and expressed its desire to contribute to the transfer of knowledge, development and training of cadres working in this sector through Foundation (Visa School for business development ( accepted Visa the business School )

As well as that this bank seeks to develop the market through effective competition and similar agreements
will be signed with other international companies

Edited April 26, 2018 by DinarThug

[DinarThug]

https://cbi.iq/news/view/686

The Central Bank holds the Arab Day of Financial Inclusion

 
April 26, 2018

 

The Central Bank holds the Arab Day of Financial Inclusion

The Central Bank of Iraq held the celebration of the Arab Day of Financial Inclusiveness. During this event, the principles and concept of financial inclusion were introduced

This celebration coincides with the celebration of the Arab Day of Financial Inclusion in all Arab countries

The Deputy Governor of the Central Bank, Dr. Munther Abdulqader, during his speech at the celebration on the importance of financial inclusion and its application in Iraq through the provision of banks products and banking services to all segments of society. The most important of the financial inclusion strategy prepared by the financial inclusion team at this bank and its future prospects was also discussed in cooperation with some international institutions concerned