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CBI News 07/24/2018


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Alsumaria News / Baghdad 
The Central Bank of Iraq, Tuesday, the private banks to deposit the second installment of insurance amounting to 50 million dinars. 

The bank said in a statement received by Alsumaria News a copy of it, "All private banks and brokerage companies to sell and buy currencies need to deposit the second installment of 50 million dinars to complete the full insurance of 100 million dinars by notification of the payment system from the bank account dealt with by the company on a date By 31 July 2018 ".

 


The bank added in its statement that "the violator will bear all the legal consequences." 

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.

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The Central Bank calls on the private banks to deposit the second installment of insurance



NB-242652-636680169593231360.jpg


The Central Bank of Iraq, Tuesday, the private banks to deposit the second installment of insurance amounting to 50 million dinars. 

The bank said in a statement received by Alsumaria News a copy of it, "All private banks and brokerage companies to sell and buy currencies need to deposit the second installment of 50 million dinars to complete the full insurance of 100 million dinars by notification of the payment system from the bank account dealt with by the company on a date By 31 July 2018 ".




The bank added in its statement that "the violator will bear all the legal consequences." 

The Central Bank of Iraq was established as an independent bank under its law of 6 March 2004 as an independent body responsible for maintaining price stability and implementing monetary policy. It supervises 10 commercial banks, 26 private banks and 16 Islamic banks, as well as 19 foreign banks. 6 financial institutions and 31 financial transfer companies.





https://www.alsumaria.tv/news/242652/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B7%D8%A7%D9%84%D8%A8-%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D8%B1%D9%81-%D8%A7%D9%84%D8%A3%D9%87%D9%84%D9%8A%D8%A9-%D8%A8%D8%A5%D9%8A%D8%AF%D8%A7%D8%B9-%D8%A7%D9%84%D8%AF%D9%81%D8%B9%D8%A9-%D8%A7%D9%84%D8%AB%D8%A7%D9%86%D9%8A/ar

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"to complete the full insurance of 100 million dinars"

 

Do you think they may be giving us the RV rate here?

How much insurance do you think will be required of ""All private banks and brokerage companies"?

Which number sounds more reasonable?

 

At 0.00086, it would be $86,000

At .10, it would be $10,000,000

At $1.00, it would be $100,000,000

At $3.00, it would be $300,000,000

 

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27 minutes ago, Floridian said:

"to complete the full insurance of 100 million dinars"

 

Do you think they may be giving us the RV rate here?

How much insurance do you think will be required of ""All private banks and brokerage companies"?

Which number sounds more reasonable?

 

At 0.00086, it would be $86,000

At .10, it would be $10,000,000

At $1.00, it would be $100,000,000

At $3.00, it would be $300,000,000

 

Math was never my strong point and so I don't understand your numbers but that doesn't mean that I don't like them. LOL

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RTGS

 

 

Wikipedia

Search

Real-time gross settlement

 

Real-time gross settlement systems are specialist funds transfer systems where the transfer of moneyor securities[1] takes place from one bank with transactions . "Gross settlement" means the transaction is settled on one-to-one basis . "Settlement" means that once processed, payments are final and irrevocable.

RTGS systems are typically used for high-value transactions that require and receive immediate . In some countries the RTGS systems may be the only way to get same day cleared funds and so may be used when payments need to be settled urgently. However, most regular payments would not use a RTGS system, but instead would use a national payment system or network that allows participants to batch and net payments. RTGS payments typically incur higher transaction costs and usually operated by a country's central bank.

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I believe this is an IMF / CBI requirement for all the banks who wants to participate in the currency window to prevent corruption.!

This is part of the AML/CFT controls, when effectively implemented, mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.

 

Go CBI

Go new monetary policy

Go $1:1

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The bank said in a statement received by Alsumaria News a copy of it, "All private banks and brokerage companies to sell and buy currencies need to deposit the second installment of 50 million dinars to complete the full insurance of 100 million dinars by notification of the payment system from the bank account dealt with by the company on a date By 31 July 2018 ".

By July 31-2018

Maybe the CBI is planning to do something in August 2018

Go RV ASAP 

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22 minutes ago, Laid Back said:

I believe this is an IMF / CBI requirement for all the banks who wants to participate in the currency window to prevent corruption.!

This is part of the AML/CFT controls, when effectively implemented, mitigate the adverse effects of criminal economic activity and promote integrity and stability in financial markets.

 

Go CBI

Go new monetary policy

Go $1:1

Sounding good, integrity and stability. 

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2 minutes ago, Laid Back said:

The bank said in a statement received by Alsumaria News a copy of it, "All private banks and brokerage companies to sell and buy currencies need to deposit the second installment of 50 million dinars to complete the full insurance of 100 million dinars by notification of the payment system from the bank account dealt with by the company on a date By 31 July 2018 ".

By July 31-2018

Maybe the CBI is planning to do something in August 2018

Go RV ASAP 

I would take August in a heart beat.  :lol:

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