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Mary B

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  1. The Arab Monetary Fund delegation arrives in Baghdad A delegation from the Arab Monetary Fund (AMF) arrived in Baghdad on Saturday under the chairmanship of the Saudi President, Abdul Rahman Al-Humaidi. The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, told "Economy News" that a delegation from the Arab Monetary Fund headed by the President of the Fund Abdul Rahman Al-Humaidi arrived Saturday morning to Baghdad to discuss bilateral relations. He stressed that one of the main objectives of this visit is to "promote the concepts of financial inclusion in Iraq and discuss ways to develop it and raise its rate to more than 22.6%." "The delegation will discuss the development of banking relations with Iraqi banks and will meet with the Governor of the Central Bank of Iraq, Ali Alaq, and the Association of Iraqi private banks." He pointed out that the visit of the delegation will take a full week, and will be interspersed with bilateral meetings on the advancement of the Iraqi banking sector.
  2. Mary B

    CBI News 10/16/2018

    The service institution of exchange companies will hold a preparatory forum to discuss the merger of banking companies Saturday, October 20, The service institution of exchange companies called on all companies to broker the sale of foreign exchange certificates to attend the preparatory forum held today at the Babylon Hotel , indicating that the forum will discuss and put forward views and proposals on the invitation of the Central Bank to merge brokerage companies. The Foundation said in a statement received by Alsumaria News a copy of it, "In order to support the exchange rate of the Iraqi dinar and towards financial stability and reduce the chances of transfer of risk in providing the best services and financial instruments, the service establishment of exchange companies to attend the preparatory and preparatory forum on 20 - Babylon Hotel Enlil Hall at 2 pm to discuss and put forward views and proposals on the call of the Central Bank in his book No. 9/5/361 dated 15/10-2018 calling for the merger of companies mediating the sale and purchase of foreign currencies. The Foundation called on all brokerage companies to "attend this forum, which includes a set of proposals and alternatives aimed at raising the level of knowledge and responsibility to make the appropriate decision on integration and its impact in favor of this financial sector and to protect citizens in the visions of the future of services and developments in the markets."
  3. A government committee decides to increase the ceiling of documentary credit with private banks The Ministerial Committee on Economic Affairs decided on Tuesday to increase the ceiling of government documentary credits with private private banks to 50 million dollars instead of 30 million without the need to mediate the Iraqi Trade Bank. "The Ministerial Economic Affairs Committee held its 25th session today under the chairmanship of Minister of Planning Salman Jumaili and decided to increase the ceiling of government documentary credits with private private banks to 50 million dollars instead of 30 million without the need to mediate the Iraqi Bank for Trade "He said. "The Committee also decided to approve the compensation of commissions due to the extension and strengthening of documentary credits. The committee also decided to exclude the Foundation of Martyrs to contract with the former engineering consultancy office for the project of desalination and water purification and bottling in the province of Basra and the amount does not exceed 50 million dinars because the project provides clean water for the slides Broad of the people of the province. " The Hindawi recommended the Committee on Economic Affairs Ministerial to the Council of Ministers to agree to exempt the material of plastic granules from customs duties to the zero limit in order to encourage the local industry in this area. He added that "the committee agreed to re-work for the company executing the project to establish a gymnasium capacity of 7,000 spectators within the youth city in the province of Baghdad," adding that "another decision issued by the Committee to increase the total cost of the project to establish the Civil Status Department in the western table in Karbala province, As well as another decision to exclude the Ministry of Higher Education and Research of the controls to pay the dues of the company executing the processing of the University of Kufa Internet service. "The Economic Affairs Committee hosted a number of businessmen, investors and representatives of the Iraqi private sector, during which they discussed a number of proposals submitted by the private sector aimed at addressing the consequences of the financial crisis on investors and the private sector." The meeting was attended by Minister of Industry and Minerals Mohammed Shiaa al-Sudani, Oil Minister Jabbar al-Luaibi, Central Bank Governor Ali al-Alaq, Chairman of the National Investment Authority Sami Al-Araji, Undersecretary of the Ministry of Finance Maher Hammad and economic advisor to Prime Minister Kazim al-Hassani.
  4. Economist: Iraq lacks clear banking policy Abdul - Hussein Al - Mundhary An economist said Iraq's lack of a clear banking policy is moving the banking sector and activating its work. "There is a lack of harmony between the fiscal and monetary policy in Iraq, which is worrying, especially since the economic sector is very important and is the lifeline," said economist Abdul Hussein al-Manzheri in a press statement. He added that: "Prior to 2003, banks were preparing their annual plans and send them to the Central Bank, which in turn studied and then approved for the banks to implement them, and is to monitor the implementation for a full year, and this is not happening now. Al-Manzari pointed out that "the Council of Experts in the Ministry of Finance is the one who activates the work of banks and gives guidance and instructions to banks, and in turn the central bank directs instructions to government and private banks, which is responsible for its work." He explained the economic expert: "The government banks take the banking operations by between 85 to 90 percent of the general activity, while the proportion of the contribution of private banks between 10 to 15 percent." //Mother
  5. An open letter to the Prime Minister of the Council of Ministers Samir Nusairi But in the particular political, security and economic conditions that our country is currently experiencing, particularly the economic reality and the economic and financial crisis, which have had a clear impact on obstructing the implementation of government and private sector plans to contribute to economic development and the lack of new economic resources, weak economic planning, Deficit from one year to another in non-oil revenues and in general budgets and deficit in the balance of payments and the absence of a sovereign fund similar to other oil countries and not to give a key role of the private sector in decision-making Economic. In addition to this confusion of economic vision in depth backgrounds and the reality of the Iraqi economy rent and the migration of national capital abroad because of the subjective and objective conditions above and instability in the business environment. Therefore, our vision for economic reform stems from its insightful and transparent analysis of the reality of the Iraqi economy and the necessity of drawing up a methodology for economic and financial reform that is consistent with our realistic, analytical, transparent and neutral view of building a sound national economy. Which depends on the mechanisms of transition to a social market economy by re-evaluating and reviewing the structural and institutional system for managing the economy. As well as reviewing and evaluating the basis of coordination between the financial and monetary policies. 2 - Activation of the decisions reached by the expert committees formed in the Council of Ministers in 2015 for each sector of economic implementation of the road map for each economic sector is subject to the implementation of these decisions for follow-up and monitoring and evaluation 3 - Formation of a joint legal committee between the government and the private sector to reformulate and amend laws New and activate all the laws issued and currently suspended, which govern the management of the economic process and serve the implementation of the road map, which is approved are all the laws of the legislative environment, which regulates and manages the Iraqi economy curriculum of the most prominent law of partnership between the government and the cat Private law and local product protection law. 4 - Establishment of the Private Sector Development Council and its functions as specified in the private sector development strategy for the years (2014-2030) Starting from a purely Iraqi experience that is consistent with all of Iraq's core in the awareness and culture, the sincere work and the bright future that we see with optimistic eyes and work according to the principle of (we disagree in politics and unify the economy) because the people do not achieve their well-being and happiness and its prosperous future without a solid national economy that contributes to building it all. This building is available in Iraq. 5 - Involvement of the private sector in economic decision making and representation in the membership of the Council of Ministers and the Committee of Counselors and all the bodies of opinion in the ministries 6. The establishment of a central monitoring body linked to the Council of Ministers and represents the private sector and its task is to follow up the implementation of the decisions of the Council of Ministers.
  6. Iraq signs a strategic agreement with the United Nations to develop the private sector WhatsApp Iraq has signed with the United Nations Development Program (UNDP) an agreement to implement the strategy of private sector development. The agreement was signed by the Undersecretary of the Ministry of Planning for Technical Affairs Dr. Maher Hammad Johan, and the UN Program by the Country Director of the United Nations Development Program in the Middle East, Munir Thabet, in the presence of a number of Directors General of the Ministry and representatives of the United Nations Development Program. "We are continuing to cooperate with the United Nations Development Program (UNDP) as we have a continuous partnership in many programs," said the Undersecretary of the Ministry of Planning after signing the agreement. He added: "This issue is a sequential part of these programs, which we share in the implementation of the strategy of developing the private sector," noting that "this strategy was initiated by the Ministry of Planning, commissioned by the Secretariat of the Council of Ministers." "This strategy includes key axes that move the private sector at a clear pace, encouraging it to engage in real economic development," Johan said. "The purpose of this agreement is to provide a framework of cooperation to facilitate coordination between the two parties on a general basis in the areas of common interest, and does not include any executive program or financial obligations of the parties," he said. The United Nations Development Program (UNDP) is to monitor and evaluate the implementation of the private sector development strategy, and for the Ministry of Planning to provide funding and technical arrangements for the implementation of PSDS in Iraq. "
  7. University of Ceyhan to host a symposium on the Iraqi currency next Monday Next Monday, the University of Ceyhan will host the economic symposium "The Iraqi Currency", which will be presented by Dr. Hamam Al-Shamma. An official source for "Economy News", "The University of Ceyhan will embrace next Monday the work of the economic dialogue seminar (the Iraqi currency what and what) and cast the international economic expert Hammam al-Shamma." He stressed that "the lecture will be about the importance of enhancing confidence in the Iraqi currency in light of the major challenges facing the global monetary system as a result of the economic war between the major powers." He pointed out that "the workshop will be attended by high-level figures from various quarters."
  8. Mary B

    CBI News 10/09/2018

    Economist: The name of the relationship on the currencies will not affect the strength of the dinar and this is important BAGHDAD / The economic expert Qusay al-Jabri said on Wednesday that writing the name of the governor of the Central Bank Ali al-Alaq on the new currencies will not affect the strength of the dinar, and that is what is important. Al-Jabri said in a statement to Al-Ghad Press that "the governor of the Central Bank of Iraq Ali al-Alaq all the powers, where we find that the Iraqi state today mostly by proxy and this is not new and exercise his work normally despite some difficulties faced by the official responsible." He stressed that "we must pay attention to and care about is the strength of the Iraqi dinar, we find that the signature of the Governor of the Central Bank on the banknote does not affect the strength of the dinar or the Iraqi economy, and this thing, as we know is the practice in a number of countries, including the state Iraq in the past and there is signed by his name frank. " He pointed out that "the Iraqi dinar strongly supported today by the currency of the dollar and gold reserves, and that there are many factors exist should be cautious, which is possible to affect the Iraqi economy and we should care about."
  9. Karbouli of the relationship: I will accept to put your picture if the dinar is equal to the dollar [/rtl] [rtl]Release date: 2018/10/10 10:32 • 235 times read[/rtl] [rtl] (Baghdad: Al-Furat News) criticized the head of the parliamentary bloc of solution, Mohammed Karbouli, the Iraqi Central Bank, put the name of the governor of the bank agency {Ali Alaq] on the edition of the new currency of the small category. "I would have accepted that your name and signature be embossed with gold; I would accept that you put your picture on the coin if you made the dinar equal to the dollar," Karbouli wrote on his Twitter profile. Referring to the financial policies of the bank's governor during his last five years in office, Karbouli asked: "Who is responsible for the ongoing haemorrhage of the hard currency and selling it by auction, opening up wholesale banks in a way that is disproportionate to Iraq's exhausting economic reality? Consumer goods and the industrial and agricultural development of the country? " "If you can not fix Iraq's economic reality, the Iraqis will not mention your name even if it is carved on the rock." The Central Bank of Iraq announced last Saturday in a surprise move, the printing of large quantities of small groups of the Iraqi currency and the beginning of distribution, and write the name of the governor {agency} Ali Alalak, after improving the type of material used, and make a simple change in the form of these categories. And raised the move of relations by placing his name on the currency in addition to signing a kind of controversy in the Iraqi street, and some called the House of Representatives to remove this addendum. The House of Representatives discussed the issue yesterday, said First Vice-President of the Council Hassan al-Kaabi, "The interventions of the meeting obliged us to attend the Governor of the Central Bank regarding the new currency, will be the date of hosting the governor on Thursday (tomorrow)." However, the director of accounting at the Central Bank Ihsan al-Yasiri said in a press statement that the move was considered normal, considering that many central banks in the world put the name of the governor next to the signature, and only at other times sign, citing it as a "fingerprint of the Iraqi currency." "Iraq received two days ago the first shipment of the category of thousand dinars and distributed to banks and financial institutions in order to put them to market, and this month will receive shipments of 250 and 500 dinars." The Central Bank of Iraq changed the image of the Islamic dinar on the category of a thousand dinars and made it a picture of the Assyrian logo. For his part, the legal expert Jamal al-Asadi, the existence of a legal violation in the name of the governor of the Central Bank, the second edition of the Iraqi currency, and told the {Euphrates News} last Monday that the lack of reference to the status of the governor by proxy and write only a conservative in the currency is not original " Law. " For his part, counting the historian Ghazi Ahmed al-Samarrai, step by "the previous did not occur on the date of the modern Iraqi currency since its issuance 87 years ago." While the general manager of the issuance and cabinets in the Central Bank Abdul Karim Hassan reasons to write the name of the governor "to know the citizen who is the governor."[/rtl]
  10. Governor of the Central Bank of Iraq: We plan to delete zeros from the local currency By Roudao 15 hours ago 6108 views Different categories of Iraqi currency Roudao - Erbil The governor of the Central Bank, Ali Alaak, on Monday, the existence of a plan to delete zeros from the local currency, noting that "this plan needs to deliberate steps, so as not to be exploited in the fraud." Al-Alak said in a statement to the official Sabah newspaper that "currencies with small categories, may lead the citizen to bid farewell to banks in the difficulty of storage." He added that "the central bank has a future plan to restructure the Iraqi currency, including the deletion of zeros, but this plan needs to deliberate steps, and a stable situation in order not to be exploited in the work of fraud and others." He explained that "the Central Bank has a reserve of foreign currency very comfortable, approaching close to $ 60 billion, compared to 43 trillion dinars, which means that it covers 170 percent of the size of the mass of cash." On the launch of the currency of the category of 100 thousand dinars, the central bank governor pointed out that "these ideas are traded by the Central Bank, but at the present time regret it." The central bank introduced in April a project to delete three zeros from the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deterioration of the security and political situation in the country "to prevent manipulation and fraud of weak souls."
  11. no link, I like reading articles from origional site, link proves article

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