Nahrain University holds a scientific symposium on the role of the Central Bank in the settlement of salaries

[yota691]

Nahrain University holds a scientific symposium on the role of the Central Bank in the settlement of salaries

 

Banks Economy News _ Baghdad On Tuesday, the University of Nahrain held a scientific symposium entitled "Role of the Central Bank of Iraq in the settlement of salaries", in the presence of the Director of Payments Department in the Central Bank, and the financial and economic adviser to the Association of Iraqi private banks Samir Nusairi and a number of professors and specialists in economic affairs.  The financial adviser of the Association of Iraqi Private Banks Samir Nusairi, during the seminar, which was attended by "Economy News", that the process of settling salaries is to enhance financial inclusion, which is a key objective in the strategy of the Central Bank for the years 2016-2020, noting that this project in fact to increase the prevalence In the next three years to about 30%, which means increasing the number of bank accounts by a large percentage. He added that "the achievement of financial inclusion is linked to the strengthening of confidence in the Iraqi banking sector and attract home-based deposits, which exceed 77% of the total market cash volume of 48 trillion dinars, in addition to the creation of modern banking products that enhance customer confidence in the banking sector."  For her part, the Director of Payments Department at the Central Bank, Subhi Abdul Karim, said that the Central Bank to develop a strategy on the subject of settling salaries to shift to electronic payment through the settlement of salaries of employees to be an effective tool in the transfer of e-culture culture of the community, indicating that the project will follow other projects aimed at Conversion of houses to banks to build reliable financial institutions in the next stage of investment. "The central bank, in cooperation with government and private banks, will hold a week of financial coverage in the last week of April to introduce citizens to the importance of financial inclusion and to encourage participants to provide modern banking services to all segments of society." Views 121   Date Added 20/03/2018

[bostonangler]

2 hours ago, yota691 said:

will hold a week of financial coverage in the last week of April to introduce citizens to the importance of financial inclusion and to encourage participants to provide modern banking services to all segments of society."

 

Sound promising.... I just hope it is this April... LOL!!!

 

B/A

[Synopsis]

1 hour ago, yota691 said:

He added that "the achievement of financial inclusion is linked to the strengthening of confidence in the Iraqi banking sector and attract home-based deposits, which exceed 77% of the total market cash volume of 48 trillion dinars, in addition to the creation of modern banking products that enhance customer confidence in the banking sector." 

 

Looks like there is 0.77 x 48 trillion dinars = 37 trillion dinars remaining in home-based deposits.

 

1 hour ago, yota691 said:

will hold a week of financial coverage in the last week of April to introduce citizens to the importance of financial inclusion and to encourage participants to provide modern banking services to all segments of society."

 

This is the section Yota highlighted. Although not mentioned here, I wonder what this implies for other facets of currency reform that could possibly include the lower denominations. Without a shift in the currency policy and practice, what would be another compelling reason for the CHUNKAE' MONAE' to be pulled out of "home-based deposits" and deposited in the banks?

 

For their Sunday through Thursday work week, the last full week in April starts on Sunday, April 22 and the work week ends on Thursday, April 26. The elections will be held on Saturday, May 12 that is 20 to 16 days ahead of the elections.

 

I am not sure what this implies about the timing of all this.

 

Could be somethin'. Could be nothin'.

 

In The Mean Time..............................................

 

Go Moola Nova!

[blueskyline]

Thank You Yota . GM DV's. " This is the section Yota highlighted. Although not mentioned here, I wonder what this implies for other facets of currency reform that could possibly include the lower denominations. Without a shift in the currency policy and practice, what would be another compelling reason for the CHUNKAE' MONAE' to be pulled out of "home-based deposits" and deposited in the banks? ...Synopsis. Thank You for this line of thinking this morning . It has reminded me that Iran has stated they would go to 1 forex rate of the Rial during their New Years which starts today . I wonder what effect if any would have on the citizens of Iraq . Would it be yet another opportunity for them to bring their mattress money out for deposit or exchange ???