{The Millions of Arabs} discuss a series of economic reports

[yota691]

Governor of the Central Bank of Iraq participates in the meeting of Governors of the Arab Monetary Fund

 

Banks Economy News Baghdad: The Governor of the Central Bank of Iraq, Ali Mohsen Ismail and the accompanying delegation representing Iraq with the Ministry of Finance participated in the 41st annual meeting of the Board of Governors of the Arab Monetary Fund held in the Dead Sea area of the Hashemite Kingdom of Jordan for the period 10-11 April 2018. The central bank said in a statement published on its website and read by the "Economy News" that "during the meeting, a number of important topics were discussed. The most important of these was the system of settlements and clearing for Arab payments, which will provide an environment of financial transfers between the Arab countries and thus promote Arab trade and inter-Arab economic integration." For its part, the Fund paid great attention to the achievement of cooperation and exchange of experiences in the field of monetary policies among the Arab countries and coordination of their positions in international forums and meetings as well as strengthening coordination between central banks and Arab monetary institutions in various fields related to the work of these banks. He also stressed the assistance in exchanging experiences and experiences between central banks, and thus these steps will achieve monetary cooperation among Arab countries in order to reach a common formula in the construction of monetary policies. Views 0   Date Added 11/04/2018

[yota691]

11-04-2018 02:02 PM

Governor of the Central Bank participates in the meeting of the Governors of the Arab Monetary Fund

 

 

 

The Governor of the Central Bank of Iraq Ali Mohsen Ismail and his accompanying delegation represented by Iraq accompanied by the Ministry of Finance at the forty-first annual meeting of the Board of Governors of the Arab Monetary Fund held in the Dead Sea area of the Hashemite Kingdom of Jordan for the period from 10 to 11 April 2018. 

The Central Bank said that ' During the meeting, a number of important topics were discussed. The most important of these was the system of settlements and clearing for Arab payments, which would provide an environment of financial transfers between the Arab countries and thus promote Arab trade and inter-Arab economic integration. 

For its part, the Fund paid great attention to the achievement of cooperation and exchange of experiences in the field of monetary policies among the Arab countries and coordination of their positions in international forums and meetings as well as strengthening coordination between central banks and Arab monetary institutions in various fields related to the work of these banks.

He also stressed the assistance in exchanging experiences and experiences between central banks, and thus these steps will achieve monetary cooperation among Arab countries in order to reach a common formula in the construction of monetary policies.

[yota691]

{Arab Monetary} Looking for financial safety indicators

17/4/2018 12:00 am  In a workshop organized in cooperation with the International Monetary Fund Abu Dhabi / Follow-up morning A workshop on "Financial Safety Indicators" organized by the Institute for Economic Policy in the Arab Monetary Fund in cooperation with the International Monetary Fund (IMF) Center for Economics and Finance in the Middle East opened at the headquarters of the Fund in Abu Dhabi from April 15 to 19. "In view of the liberalization of financial markets and the resulting capital flows, and recognizing the importance of systemic risk to financial systems, the Director General of the Board of Directors of the Institute for Economic Policy, Saud Al-Briqan, said in a speech on behalf of the Director General, Abdulrahman bin Abdullah Al-Humaidi, There has been a great interest by decision makers in the importance of collecting proactive information for relevant indicators to ensure the stability of the financial system. " Control of the financial system and the "Financial safety indicators are the most important tools through which the control of the financial system to determine the ability of this system to deal with fluctuations in the movement of capital." "The workshop will focus on providing participants with the concepts, definitions, sources and methods of collecting financial safety indicators on the indicators and how to analyze them, how to collect, derive and disseminate financial safety indicators data, as well as preparation of sectoral data and compilation of financial safety indicators. Indicators through participants' presentations and presentation of the status of   their countries. "  "The workshop seeks to present the concepts and definitions related to these indicators and identify the sources of their data, as well as to identify the methods used in the process of collecting and publishing these data." The indicators are divided into fundamental indicators and favorable indicators, which address the core indicators related to depository institutions such as capital adequacy, Asset quality, profitability, liquidity, and sensitivity to market risk   . " "The preferred indicators are those relating to depository institutions and other financial institutions as well as non-financial institutions, the family sector in addition to the liquidity of the stock market and real estate markets."  Al Barikan expressed the hope that the workshop on "Financial Safety Indicators" will achieve the desired objectives of deepening the knowledge of participants in this important subject. Financial sector status The importance of financial safety indicators is reflected in their ability to describe the financial sector's situation and safety in the country concerned, so that decision makers can address and address vulnerabilities in a timely manner and thereby avoid similar financial crises.   "These indicators serve as an early warning, allowing some time to deal proactively, scientifically and carefully with the challenges facing the economy, and correcting its course. Experiments have taught us that the time, effort and money required to deal with financial crises are far beyond what we can Early warning to deal with such crises. "

[yota691]

 

Arab Monetary Fund announces the establishment of a regional entity to settle payments between the 22 countries,

11:18

Last updated

The time now is 11:24 AM

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Follow-up / tomorrow Press:

The Arab Monetary Fund (AMF) announced on Sunday that its board of directors has approved the establishment of an independent regional entity to settle payments among the 22 member states.

Arab countries have ended plans to set up an independent payment system across the region after high compliance costs and global banks have reduced their activities to undermine existing arrangements.

Correspondent banks currently handle most of the payments and settlements among Arab countries and act as agents for foreign institutions that have no actual presence in a country.

US and European banks' tightening in recent years has increased the cost of anti-money laundering, while some banks have moved out of the market to focus on more profitable sectors. 

The fund did not specify a timing for the new mechanism to start, but bank officials had previously expected it to start operating in 2020. The capital of the new entity, backed by Arab banks, would be $ 100 million and owned by the Arab Monetary Fund. 

The new entity aims to support the use of local currencies in the settlement process between Arab countries as well as major international currencies.

[nannab]

Thanks Yota and good morning DV.  

[ChuckFinley]

Thanks Yota, hope other banking systems take note here, Cost is a major problem in the banking industry and I can see a lot more of this type of regional baking. 

[yota691]

13 minutes ago, nannab said:

Thanks Yota and good morning DV.

Good morning nannab and all of DV...This subject goes a long way for Iraq for reconstruction and investment... 

[blueskyline]

Thank You Yota . GM DV's . More stability and security on all fronts. Good news . 

[yota691]

Tomorrow will start the week of financial inclusion in Iraq

 

The logo of the Association of Iraqi private banks «Economy News»

Banks Economy News Baghdad: The Association of Iraqi Private Banks announced the launch of the Financial Inclusion Week on Wednesday in all parts of the country, with the aim of increasing the dealings with the banking sector . The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a press statement that "on Wednesday will see the start of the activities of the week of financial inclusion, which will involve 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 "He said. He added that "the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with the Arab countries," noting that "Iraq wants to increase the number of customers with the banking sector to a large proportion because it will make citizens enjoy the banking services available to the public of loans Electronic payment and others . " He pointed out that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others." He pointed out that "the banks will during the week of financial coverage to open bank accounts and the granting of credit cards and others ." Views 150   Date Added 04/24/2018

[Butifldrm]

The Financial Inclusion Week will kick off in Iraq tomorrow

12:13 - 24/04/2018

 

  

Information / Baghdad ..

The Association of Iraqi private banks announced on Tuesday the launch of the week of financial coverage on Wednesday in all parts of the country, aimed at increasing the dealings with the banking sector.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a statement received / information / a copy of it, "on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage that Will reflect positively on the economy. "

The statement added that "the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with 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 electronic payment and others. "

The statement said that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others." He pointed out that "banks will during the week of financial inclusion to open bank accounts and the granting of credit cards and others." Ending / 25

http://www.almaalomah.com/2018/04/24/303549/

[vomer]

Well include me in.

[yota691]

Launching the Financial Inclusion Week in Iraq

 

Banks Economy News Baghdad: The Central Bank and the Association of Iraqi Private Banks launched the activities of the Financial Inclusion Week in Iraq with the participation of banks and financial companies operating in the country . The Executive Director of the Association of Iraqi private banks Ali Tariq, "Economy News", "The banks and financial companies launched the week of financial inclusion in Iraq through the organization of educational campaigns to urge people to deal with the banking sector and opening accounts and credit cards and others ." He added that "financial inclusion aims to deliver all banking services to the segments of society, specifically women and poor groups, which will reflect positively on economic development and achieve financial and social stability through the fight against poverty and unemployment." Views 318   Date Added 04/25/2018

 

[yota691]

The Board of Governors of Central Banks and Arab Monetary Institutions calls for enabling young people and entrepreneurs to access financial services

 

Banks Economy News Baghdad: The Board of Governors of Central Banks and Arab Monetary Institutions called for the access of youth and entrepreneurs to financial services. " Enhancing levels of financial inclusion in the Arab countries is an important focus of the Central Bank and Arab Monetary Fund's board of directors' concerns, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare ," the council said in a press release . "He said. "In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its contacts with all parties in the Arab countries, the Council has adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, Access of young people and entrepreneurs to financial services ". "The Council appreciates the steps and actions taken by the Arab countries to promote financial inclusion and reaffirms the need to integrate all segments of society and its sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access to and use of financial services and products commensurate with 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 stresses the role of central banks and Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the development of laws and legislations aimed at enhancing the dissemination of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand And to take measures and policies to address them and stimulate the private sector and financial institutions and banks and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities . He pointed out that "the Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched a number of different activities and initiatives in cooperation with relevant regional and international institutions. These efforts have been strengthened recently by launching the Arab Monetary Fund in cooperation with a number of regional institutions and international, under the umbrella of the Council, the regional initiative to promote financial inclusion in the Arab States (FIARI) inorder to enable and enhance the capacities and capabilities to overcome the obstacles to improving indicators of financial inclusion in the Arab countries. the initiative includes many activities that t Focused on supporting young people and empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. He stressed that "the Council calls on the regional and international institutions to cooperate and coordinate among themselves in the framework of this initiative, which contributes to support the efforts of the authorities in the Arab countries The Council also stresses the importance of taking steps and specific actions on the ground to promote the rates of financial inclusion through the promotion Innovations for the development of the banking industry, including initiatives such as opening an account for each citizen, providing special financial and banking products and services for young people and women, taking special initiatives to bridge the gender gap, Financial and banking Gat " . Views 32   Date Added 25/04/2018

[DropItLikeItsHot]

Come 'on get the "CHUNCKY MONEY" in the F'en Banks so the RI / RV can happen!

Don't kick the can....

Kick the Camel & Get to the Banks Iraq!

[10 YEARS LATER]

1 hour ago, DropItLikeItsHot said:

Come 'on get the "CHUNCKY MONEY" in the F'en Banks so the RI / RV can happen!

Don't kick the can....

Kick the Camel & Get to the Banks Iraq!

 

No need to kick my Camel 🐪 to get him started-got my new Electric Starter wired to his Hoo Hoos - that boy can GO !  😆

[WheresmyRV?]

[pokerplayer]

Just now, WheresmyRV? said:

 

Thats funny, I don't care who you are !! 

 

   pp

[stangernan]

1 minute ago, WheresmyRV? said:

Date Nite in IRAQ   

[ChuckFinley]

On 4/24/2018 at 6:56 AM, Butifldrm said:

The Financial Inclusion Week will kick off in Iraq tomorrow

12:13 - 24/04/2018

 

  

Information / Baghdad ..

The Association of Iraqi private banks announced on Tuesday the launch of the week of financial coverage on Wednesday in all parts of the country, aimed at increasing the dealings with the banking sector.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq in a statement received / information / a copy of it, "on Wednesday will see the start of the activities of the week of financial inclusion, which will involve all banks and financial companies operating in Iraq, in order to educate the public on the importance of financial coverage that Will reflect positively on the economy. "

The statement added that "the Central Bank and the Association of Private Banks are directly supervising the organization of the week of financial inclusion, which will be launched in conjunction with 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 electronic payment and others. "

The statement said that "the activities of the week of financial inclusion include the Iraqi banks to display their products in public places that you see appropriate from universities and commercial centers and others." He pointed out that "banks will during the week of financial inclusion to open bank accounts and the granting of credit cards and others." Ending / 25

http://www.almaalomah.com/2018/04/24/303549/

Thanks Yota and Bitifldrm. This is pretty big endeavor. Add this to the damage currency it sounds like they want to bring everything into the banking system. This is for sure a big deal and good for us.  

[Pitcher]

18 minutes ago, WheresmyRV? said:

 

 

Too funny, WMRV

 

you are right, pp

 

Lost it on yours stangernan 

 

thanks guys, needed a good laugh

 

[yota691]

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

26/4/2018 12:10 am   Baghdad / Al-Sabah The   start of 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 where the world ended, and the advancement of the national economy through The interaction with all segments of the society without exception to be the results for the benefit of the national economy through the positive interaction between the banking system and the citizen and  launched yesterday the effectiveness of the week of inclusiveness to continue for 7 days, targeting all segments of society in different places and sectors, This interest stems from the important positive role of financial inclusion 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 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 The Director General of Payments in the Central Bank of Iraq, Suha Abdul Karim, has shown "the central quest to develop the financial sector and banking 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 brings 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 banking education of services, especially for women, as well as for the students, whether schools or universities, Mia Banking ". 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. Paiement added that " the Central Bank and the Association of private banks to supervise directly on the organization of financial inclusion Week , which was launched in conjunction with the Arab countries , " noting that "Iraq wants to increase the number of dealers with the banking sector to large proportions because it will make citizens enjoy banking services available to the public Loans, electronic payments and  others. " Tarek pointed out that "the events of the week of financial inclusion include the Iraqi banks to display their products in public places that it deems appropriate from universities  and commercial centers and others," noting that "  Development Agenda  International Financial Inclusion Expert d. 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. The direct impact of the South Islamic Bank relations director Jamal Shaker al - Rubaie said the "speed in the variables and the technological race puts the media in the forefront of the direct means of influencing public opinion , because the media 's role is to create cultural awareness and orientation 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.

[boosterbglee]

BOOM....me up Scotty!   😂

[yota691]

Arab Day for Financial Inclusion

26/4/2018 12:10 am  Dr. Bassem Al-Brahimi   Three years ago, the Arab countries celebrate 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 several days. In addition to holding seminars and educational programs on the subject. It is customary to focus during the celebrations on the target chosen by the regional team of the Arab Monetary Fund. Youth and entrepreneurs 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.

[ChuckFinley]

2 hours ago, WheresmyRV? said:

That guy is trying to look innocent. Those camels look way to happy. 

[Butifldrm]

The Board of Governors of Central Banks and Arab Monetary Institutions calls for enabling young people and entrepreneurs to access financial services

 

Banks Economy News Baghdad: The Board of Governors of Central Banks and Arab Monetary Institutions called for the access of youth and entrepreneurs to financial services. " Enhancing levels of financial inclusion in the Arab countries is an important focus of the Central Bank and Arab Monetary Fund's board of directors' concerns, as it plays an effective role in enhancing financial stability and supporting opportunities for sustainable development and social welfare ," the council said in a press release . "He said. "In this context, in 2016, in light of the increasing need to increase awareness of the importance of financial inclusion and its contacts with all parties in the Arab countries, the Council has adopted an Arab Day for Financial Inclusion, which falls on April 27 of each year, Access of young people and entrepreneurs to financial services ". "The Council appreciates the steps and actions taken by the Arab countries to promote financial inclusion and reaffirms the need to integrate all segments of society and its sectors into the formal financial system, especially youth, women and entrepreneurs, by enhancing their access to and use of financial services and products commensurate with 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 stresses the role of central banks and Arab monetary institutions and supervisory bodies in the financial sector in the Arab countries in enhancing financial coverage through the development of laws and legislations aimed at enhancing the dissemination of financial and banking services, developing payment systems and credit inquiries and identifying gaps and obstacles in both supply and demand And to take measures and policies to address them and stimulate the private sector and financial institutions and banks and related parties to play their role in raising awareness and financial culture to enable and strengthen the capacities of local communities . He pointed out that "the Council is keen to give the issues of financial inclusion in the Arab countries the importance it deserves. The Council has launched a number of different activities and initiatives in cooperation with relevant regional and international institutions. These efforts have been strengthened recently by launching the Arab Monetary Fund in cooperation with a number of regional institutions and international, under the umbrella of the Council, the regional initiative to promote financial inclusion in the Arab States (FIARI) inorder to enable and enhance the capacities and capabilities to overcome the obstacles to improving indicators of financial inclusion in the Arab countries. the initiative includes many activities that t Focused on supporting young people and empowering women financially and encouraging the development of start-ups and entrepreneurs by providing technical advice to develop strategies and policies. He stressed that "the Council calls on the regional and international institutions to cooperate and coordinate among themselves in the framework of this initiative, which contributes to support the efforts of the authorities in the Arab countries The Council also stresses the importance of taking steps and specific actions on the ground to promote the rates of financial inclusion through the promotion Innovations for the development of the banking industry, including initiatives such as opening an account for each citizen, providing special financial and banking products and services for young people and women, taking special initiatives to bridge the gender gap, Financial and banking Gat " .

http://economy-news.net/content.php?id=12092