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ALBUNDY last won the day on September 18 2012

ALBUNDY had the most liked content!


  • Birthday 08/08/1947

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  1. Iraq in 2050: the economy is running $ 2 trillion and the population crossing the 50 million barrier Monday, July 29, 2013 06:04. Global banks owners are waiting for the end of the «fight political and security tensions». International banks managers PREDICTED a BOOM in the IRAQI ECONOMY in the NEXT TWO DECADES, especially in the BANKING SECTOR sector. A number of them said in interviews published by Agence France-Presse, said that the ECONOMY of IRAQ will be $ 2 TRILLION at a time when many of the POPULATION up to 50 MILLION PEOPLE, by 2050. And showing international banks, including "Citibank" and "Standard Chartered" desire to find a foothold in Iraq, but that this desire is often hit by several negative factors in the country witness عراكا the political and security tensions sustained. With tens of millions of potential customers who have only a few of them bank accounts, it has become Iraq represents an ambitious target of banking institutions, particularly that the Iraqis are now looking to more banking services that are available to them. However, the long-standing laws, and the majority of banks controlled by the government, and weak infrastructure in this sector, in addition to a huge number of other obstacles Kaerak the ongoing political and deteriorating security situation, make the banking activity in the country is not guaranteed results. Says a Western diplomat told AFP that "it is very likely that IRAQ is a RICH MARKET for the BANKING BUSINESS." He returned to talk about the Iraqi market during the past few weeks after starting the major banks, including "Citibank" and "Chartered Stnadrd" of moving in an attempt to consolidate its presence in Iraq. Says the "owner مايانك", Director of the bank, "Citibank" in Jordan and Iraq, told AFP, "We look at IRAQ as LARGER GOAL following," adding, "We see in IRAQ giant is PREPARING for ADVANCEMENTS." "We consider ourselves among the top candidates, and we want to have the priority." The bank will "Citibank" in the beginning, to serve existing customers, who are working within the energy companies operating in the oil-rich fields. But in the long term, the multinational bank will seek to move to the commercial banking business and service, although no timetable has not put in place until now. He holds "Citibank" great hopes for Iraq, which the bank economists predict that Iraq has a population of 50 million people's economy, worth about $ 2 trillion by the year 2050. The latter figure represents 15 times the current capacity of the economy, and roughly equivalent to the size of India's economy. With the development of the sector, to become full banking services are required, since the Iraqis are currently limited opportunities in obtaining loans, insurance, credit cards, mortgages and other services. The owner shows optimism about the potential of the banking sector in Iraq, waving fundamental obstacles to the development of this sector. At a time in which it decided "Citibank" to open an office in Iraq last month, the bank "HSBC" announced later that he was withdrawing from the bank, "Dar es Salaam" local who owns 70% of its shares. The spokesman said, "HSBC" at this stage "we can not offer more details about the process of change and timing." But diplomats and analysts pointed to a number of difficulties including the lack of modern systems to give Iraqis confidence in the banking process. Even Iraqis who have bank accounts, they are not able to use an ATM or bank services via the Internet or even the ability to access their accounts from different branches of the same bank. And some credit cards issued, but there are no places accept to deal with it. A Western diplomat says that the conditions are not ripe to engage in individual banking services. Often local businesses complain that banks are unwilling to lend, or it demanding assurances expensive and unacceptable. And the withdrawal of the World Bank estimates that the Iraqi bank credit amounted to less than 10% of GDP in 2010. For comparison this figure was about 55 percent in the rest of the Middle East. He says Thamer Ghadbaan, chief adviser to Prime Minister Nuri al-Maliki "We must avoid the accumulation of cash within the government banks, but rather use the money to lend even be a part of the system of the private sector." Huffy adds that required "better technology, as well as reductions in processing times, leaves and staffing levels. There is also a need to change the attitude toward customers." He explained that the bank's employees do not provide them with the service but the situation on the contrary, he said, adding "they must attract customers and not push them out." THE LINK :
  2. The Ministry of Finance required to open windows for the sale of hard currency in all provinces 07/31/2013 Student member of the Finance Committee secretary Hadi and the Ministry of Finance to coordinate with the Central Bank to open the windows sale of hard currency in all branches of government banks to the generality of the country so as to prevent the monopoly of banks selling certain without the other. Hadi said: "Some of the PRIVATE BANKS are trying to MONOPOLIZE the SALE of HARD CURRENCY to their advantage, which led to INCREASE in the EXCHANGE RATE of the DINAR against the dollar, a RESULT of an IMBALANCE in the balance of SUPPLY and DEMAND for DOLLARS in the local market." And added: The Ministry of Finance required to develop a plan to open special outlets for the sale of hard currency in all branches of the Rafidain good in the country, both in Zakho or FAO to deliver the dollar to target groups of traders and businessmen or travelers and others, so as to SUPPORT the STABILITY of the DINAR EXCHANGE RATE, noting that the state needs badly because most of their DEALINGS DINAR TO THE DOLLAR. Has seen the IRAQI DINAR EXCHANGE RATE during the past few weeks a SIGNIFICANT DECLINE against the dollar, which made economists fear its impact on the economic wheel in the country. the link :
  3. Thanks Saradise. I will take either one of the rates ( $3.33 or $1 ). I will wait patiently until the end of the ride no matter how long it is going to take to RV. I am not giving up until the ride is over. GO RV. Hmm. Sounds good to me.
  4. Cause I only bought Dinars very little, therefore I expect the rate to be higher.
  5. Mayahi calls CBI to support private banks to upgrade economic development Tuesday, 23 July 2013 12:40 Baghdad (AIN) -MP Aziz Sharif al-Mayahi, member of the parliamentary Economy & Investment Committee called the Central Bank of Iraq to support the private banks to boost the investment sector. Mayahi said "The economic development witness continuing progress and the private banks are considered among the most important pillars for encouraging the investment and the development projects, so these banks should be supported by all formal and legal means." "The capital of the United Bank for Investment reached IQD 300 billion, which shows the recovery of the Iraqi economy," he emphasized. /End/ THE LINK :
  6. Decline in the price of the dollar in yesterday's trading 7/24/2013 The cause of decline in U.S. Treasury bills yields of Iqbal people to buy the U.S. currency, led to the dollar's decline somewhat in Asia yesterday. The Australian dollar offset losses ahead of the release of local inflation data. Taking read data showed the weak inflation, on Wednesday, will support the point of view of those who say that the RBA will cut interest rates next month, which could affect the currency. The Australian dollar was steady against the U.S. dollar at $ 0.9253 after rising earlier to its highest level in a week at $ 0.9284. Against the Yen the U.S. dollar fell to its lowest level in a week to 99.13 yen in early trading, but quickly offset losses to score 99.51, down 0.1% from the previous closing in U.S. trading. The euro rose 0.1% to $ 1.3191 after scoring in the previous session, its highest level in a month at $ 1.3218. And went down the dollar index, which tracks the price against a basket of currencies to 82.190, but the cohesion above its lowest level in a month at 82.47. THE LINK :
  7. Economic center: sell the dollar in accordance with market needs control of the sales process will support the stability of the dinar exchange rate 23-07-2013 12:51 PM Baghdad (news) .. The head of the Economic Media Center Dergham Mohammed Ali, continued to sell the U.S. dollar from the central bank auction by the market need him with tighter controls on the sale process will enhance the stability of the exchange rate of the dinar against the dollar. Said Mohammed Ali (of the Agency news): The dollar exchange rate is determined by supply and demand, which can supply the greater and at a specified price reduces the control of specific groups at the exchange rate and the monopoly of sales operations in certain ports, which promotes the reduction of the exchange rate of the dollar. He added: that whenever remittances was liberated and open in front of the private sector through private banks and the exchange rate adopted by the central bank will cut the value of the dollar, noting that the continuation of overall sales under real market need will achieve required exuberance that supports the stability of the dinar exchange rate. He called Muhammad Ali: the monetary authority to actually close monitoring for the protection of these ports of monopoly or infringement of the beneficiaries of the revaluation of the exchange rate to maintain the flow of foreign currency to the market smoothly. / End / 8.'s. M / THE LINK :
  8. Finance Committee: Iraq's participation in the Arab Banking Summit will support the Iraqi banking system 24-07-2013 11:03 AM Baghdad (news) .. He favored the Vice Chairman of the Finance Committee MP / coalition of Kurdish blocs / Ahmed iceberg God, to enhance the contribution of local banks with the investment in the Arab and developing the economy of the country after Iraq's participation in the Arab Banking Summit after a long absence for two decades. Faizullah said (of the Agency news): The participation of Iraq in the Arab Banking Summit after missing about twenty years ago will return Iraq to the regional surroundings and take an important role, especially in the banking field. He added: It's like so conferences and summits Arab enhance the evolution of the Iraqi banking system because it will make a joint work between local banks and the Arab and perhaps pay of Arab Banks discreet to open branches in Iraq to contribute to the promotion of the investment process and economic development of the country. It is worth mentioning after a lapse of more than two decades of Iraq participates in Arab Banking Summit held recently in Vienna, which suffered widely welcomed internationally. / End / 8.'s. M / THE LINK :
  9. Your welcome. I wish It will RV soon. Of course sooner is better hopefully the end of this year 2013. GO RV.
  10. for 0.50 , I can have a nice dinner with my peggy and 2 money suckers. RV at $ 1 is enough for a short family vacation in a beach. If it RV at $ 3.33, I wish I can have my own shoe store that would be my dream. I wish this RV doesn't take a long time to come true. GO RV.
  11. Monetary policy of the Central Bank of Iraq Monday, 22/07/2013 11:45 am After that we have identified the negative effects of the monetary policy of the central bank with regard to dealing with the growing demand for the dollar and the successor of the negative impact on the Iraqi economy, do not miss the negative social effects, which include: 1 - to seek monthly income varies from one family to another and according to the number of passports that they have and without that there will be work product against this income. 2 - creating a situation of great scramble among citizens and a sense of inferiority in front of the doors of banks distributed to the dollar and carrying them is the so-called descriptions and epithets. 3 - the rush of a lot of staff and workers in the public and private sector and artisans to leave their work and stand in long queues to get a monthly share of the dollar. 4 - open a new door for financial corruption through the exploitation of some of the financial authorities to passport holders who can not get a dollar to participate in the meeting or the acquisition price difference it fully. The price difference in Alkhmshalav dollars amounted to (450) thousand dinars, an amount equal to the monthly income of some workers, leading to the creation of a state of contempt action and transform the citizen, whether working or not to pusher opportunities especially in light of the absence of any controls for the purchase and sale of foreign currency only The buyer must have a passport and do not see there is any justification for this orphan officer only if the central Among the directions that every Iraqi gets a passport, even if he does not want to travel? The effects of monetary policy on banks From the effects of central bank policy monetary impact is clear and substantial policy and plans of banks, credit and investment and the consequent growth in different economic sectors and has identified the Iraqi Central Bank controls granting credits various controls domestic and foreign investment is in the mildly controls and mechanisms we can say about it than good but who punished the central bank that it could not implement its monetary policy in this area, for example, has allowed the central bank to banks بتسليف and the granting of loans in various forms up to eight times the bank's capital and under the publications urged banks to achieve this rate or any other rate close to them but did not take into mind that the banks when granting credits are calculated several things before raising the proportion of grants, including: 1 - The amount of yield or interest earned for these credits. 2 - The amount of expenses that will be incurred by these banks because of the grants. 3 - guarantees provided to ensure that credits granted. 4 - the risk of non-payment and customizations that employ for these credits. To other accounts, which vary from one bank to another. If what has been awarded five thousand dollars as a loan or an advance or other they will achieve an annual return up to (589) thousand dinars If we consider that the interest rate 10% per annum while the same amount if invested in the purchase and sale of U.S. dollar cash it will achieve an annual return limits (2600) only two million six hundred thousand dinars, as if the bank has invested five thousand dollars interest rate up to 45% per annum and that the motivation or incentive to the granting of loans and advances and banking services will become not relegated to the feasibility as what you would pay the bank to bear the expenses of credit and the risk of non-payment and follow-up and the opening and marketing branches and affordability while he could achieve four to five times the same yield earned from loans and advances in addition to the invested capital guaranteed 100% and there is no risk could face the bank If added to him Auction remittances, the realized rate of return will be paid Bank to be in full and sang the reluctance of full exercise of any credit or investment policy, the central bank calls her. THE LINK :
  12. The collapse of the dollar exchange rate expectations in Iraq 07/23/2013 Expected number of experts, finance and economy collapse of the dollar is not at the global level because he is still master of the currencies in most countries of the world but at the level of the exchange rate in Iraqi dinars, we hope for the return of IRAQI DINAR EXCHANGE RATE against 3.3 DOLLARS as it was, but this dream difficult to achieve and fetched it is can be achieved in the light of the global variables but can be ACHIEVED to get EQUAL to the PRICE of any ONE DOLLAR against the DINAR . There are expectations for the possibility of the return of the power of the Iraqi dinar offer hope to achieve this dream, but what can we explain the exchange rate so in the country of its wealth earth-shattering, these expectations were built on perceptions of experts that Iraq would emerge and salvation from the provisions of Chapter VII but ستؤول to achieve reform and economic stability and to achieve the goals, all in forefront of the return of Iraqi dinar to the real strength of this vision and perceptions must be accompanied by better performance of denial and efficient administrations . It is said that the stability of exchange rates one of the most important means of achieving economic stability, the central bank and banks the responsibility for achieving the goal of price stability and the RETURN of the REAL VALUE of the IRAQI DINAR to the dollar collapses fact in front of our national currency. THE LINK :
  13. Central bank: a new plan to withdraw and replace damaged currency 7.23.2013 Grumbled a large number of citizens across the country from the growing phenomenon of damage and rupture of small groups of paper currency, with the CENTRAL BANK ANNOUNCED a PLAN for the WITHDRAWAL of BANKNOTES DAMAGED and REPLACED with NEW ONES. Observers said: " The problem of DAMAGE and RUPTURE of the CATEGORIES of BANKNOTES 250, 500, 1,000 DINARS worsened significantly within the past few months and that most of the current banknotes of these categories damaged and torn , which can cause sometimes often Baharajat and problems." And said the deputy governor of the Iraqi Central Bank Zuhair Ali Akbar: "The government banks in the provinces did NOT STOP the WITHDRAWAL of CURRENCY DAMAGED from circulation, however, put an AMBITIOUS PALN to PRINT the categories of alternative techniques of high quality," adding that "the CATEGORIES that will REPLACE the DAMAGED PRINTED on PAPER BETTER THAN the PAPER USED in the PRINTING of BANKNOTES to NEIGHBORING COUNTRIES countries. " The BANKNOTES CIRCULATING in IRAQ PRINTED in the UNITED KINGDOM by a BRITISH COMPANY, is gaining all denominations leafy current specification much better than the specifications of those that were in circulation until 2004, it was PRINTED during the NINETIES in CHINE and IRAQ on PAPER LOUSY and specifications EASY to COUNTERFEIT. THE LINK :
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