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Found 25 results

  1. Has anyone seen this? Maybe ive just overlooked this on my daily visits to the Centrals site Sorry if this has posted before but I just noticed it. Please delete as needed Can not copy and paste http://cbi.iq/documents/CBI_Strategic_Plan_E.pdf
  2. http://cbi.iq/documents/CBI_Strategic_Plan_E.pdf this is the link to the CBI strategic plan. It's a little lengthy but a good read. There are things in there that let me know they are moving in the right direction
  3. CBI Strategic Plan 2016 - 2020. https://www.cbi.iq/documents/CBI_Strategic_Plan_E.pdf The CBI must adapt a monetary policy that stabilized the value of local currency, and build up and preserve a stable financial system to establish and promote a free market economy based on competition, sustainable development and business opportunities “The Central Bank Act-Clause (3)”
  4. This is how I see it. It’s better to set your expectations for a longer wait and be surprised than set your expectations for a shorter wait and be disappointed. This is a list of few important things that makes me believe our wait will be longer - Complete the government .... Vacant ministers .... means stability - Important laws... HCL... Art 140 .... investment laws.... anti corruption laws and many others - IMF standby arrangement 2016/2019.... Third Review in mid 2019 - CBI strategic plan 2016/2020... development of banking system... banking laws... linking the banking system to the world - Census Of population 2020....to know the size of population... very important for the implementation of HCL...profit sharing to make planning decisions....forecasting the possible economic need... formulating economic policy determining population density - Banks reconstruction in Mosul just started... this banks need to be up and running, linked to the world banking system before RV - WTO membership .... lower trade barriers.... larger markets for their goods.... greater sales - Fight against corruption.... some political parties are threatening the GOI to bring chaos if their corruption is exposed. - Iran interventionist over Iraq. - Development of Private sector - Diversification of the economy This is just my perception of the actual situation in Iraq. I don’t want to enter into a debate. I want the RV asap, but we have to be objective. Enjoy the present, your life your family your friend. It will happen
  5. Although almost is not good enough........we are almost there.😎 Anyone remember CBI Strategic Plan 2016-2020? " Business Objectives: Stable and steady exchange rate. Initiatives and Projects Re-structure the non-banking financial institutions particularly those in money transfer and exchange through: – Withdraw excessive cash in the market and regulate sufficient amount of banknotes. – Diversify investment tools qualitatively and timely and introduce convertible new currencies." Why (is CBI doing that? ) "Due to new changes in government economic policy and directions from state-owned and centrally controlled economy TO..... privatization and free market economy, where government’s role and influence is limited and driven by the private sector and foreign investments (hence the 2020 budget deficits of 72 trillion dinar) to take the lead, the Central Bank of Iraq has a critical task to identify and diagnose the opportunities and challenges for such changes and formulate a strategy with effective objectives to ensure economic prosperity and stability." When? Now we are in August 2019 and 2020 is just a few months away ~ not a long stretch. So anything is possible now..... Hang on........
  6. Thanks for your input sweet C, I think they extended the legislation for a month to pass important laws, to vote on the ministry of education, to complete IMF requirements. IMF / SBA third review full report is coming this month CBI strategic plan 2016-2020 New Pay Scale Ladder coming January 2020 CBI Getting the banking system ready for international business I believe the rest of this year will give them time to finish all important things before the RV Go RV Go $1:1
  7. Maybe they need the new convertible currency as in the Cbi Strategic Plan via IMF Article 8 deleted zero one soon. Time to break the ice Iraq Go RV go global economy🏌️‍♂️🎯
  8. Totally agree with jake21, Still a lot of work to do. Just a few from the top of my mind - Vacant ministers - important laws - fight against corruption - IMF SBA third review mid 2019 - CBI strategic plan 2016-2020 - Census 2020 - Development of Private sector - Diversification of the economy - WTO membership Some here are still wearing the rose colored RV glasses. They see an RV in every news article. The development of a country economy that has been destroyed by war, terrorism and corruption takes time, years many years.! I hope they don’t get disappointed Patience is a virtue.
  9. The event will be on February 10 -11 /2019 Challenges for 2019 Financial sustainability and economic diversification Risk management: steps towards fair, efficient, transparent financial sector Private investment in Iraq - new finance and investment laws Strategies to boost financing of the SMEs Practicalities of project financing: power and construction industry case studies Technological modernisation and world-class solutions for the banking sector Investment plans in physical and electronic security of banking institutions in Iraq The CBI and GOI are moving in the right direction to add value to their currency but still some work to do. Just look above at the challenges for 2019. Also, - No complete seated government yet - Still waiting for important laws like HCL, Art 140 - Diversification of the economy - Develop Private sector - IMF/SBA Third review mid 2019 - CBI strategic plan 2016-2020 - Census 2020 Go RV sooner than later Go $1:1
  10. Thanks for your input Hotcurl, The reality is that a big percentage of the country has been devastated by war, terrorism and corruption No basics service... water and electricity No housing High rates of illiteracy High rates of unemployment Dinar loosing value 1166 > 1182 > 1190 Actual rate. Iran intervention on Iraq affairs Step by step Iraq reality is improving fighting corruption romeved from UN sanctions removed from AML/ CFT list security inflation +/-2% foreign currency reserves growing $62 billions Gold reserves growing 96.5 Tons But still some work to do Complete the ministerial positions pass important laws HCL art 140 investment develop private sector diversify the economy IMF / SBA 2016-2019 CBI strategic plan 2016-2020 Go RV sooner than later Go $1:1
  11. January 1/2019 and NO RV If we don't see and increase of the dinar exchange rate by the beginning of 2019 our next window of opportunity is at the end of IMF- SBA mid 2019 If nothing happens by the end of the IMF- SBA in mid 2019, our next window of opportunity is by the end of CBI strategic plan in 2020. I would love to see the RV today but still a lot of work to do. - complete the GOI - important laws - investment - diversification of the economy - develop private sector  The waiting game continues.
  12. I hope we see an RV at the beginning of January 2019. If we don't see and increase of the dinar exchange rate by the beginning of 2019 our next window of opportunity is at the end of IMF- SBA mid 2019. If nothing happens by the end of the IMF- SBA in mid 2019, our next window of opportunity is by the end of CBI strategic plan in 2020.  Still some work to do.  - restructuring the banking system - a complete seated GOI - important laws - investment  - diversification of the economy  Enjoy the ride and Go RV sooner than later. Go RV Go $1:1 Go 2019
  13. If we don't see and increase of the dinar exchange rate by the beginning of 2019 our next window of opportunity is at the end of IMF- SBA mid 2019. If nothing happens by the end of the IMF- SBA in mid 2019, our next window of opportunity is by the end of CBI strategic plan in 2020.  I would love to see the RV today but still a lot of work to do. - a complete seated GOI - important laws - investment - diversification of the economy - develop private sector  Enjoy the ride and Go RV.
  14. Laid Back

    Go Iraq

    If we don't see and increase of the dinar exchange rate by the beginning of 2019 our next window of opportunity is at the end of IMF- SBA mid 2019. If nothing happens by the end of the IMF- SBA in mid 2019, our next window of opportunity is by the end of CBI strategic plan in 2020. I would love to see the RV today but still a lot of work to do. - complete the GOI - important laws - investment - diversification of the economy - develop private sector Enjoy the ride and Go RV.
  15. It's in the making bro. Convertible currency is in the Cbi Strategic Plan & with WB stressing lately (The representative of the World Bank stressed the need for Iraq to open up to the world and achieve economic growth. Link : http://www.cabinet.iq/ArticleShow.aspx?ID=8406 ) they need to open up to world economic etc i guess they are destined to do so now arm with support from FATF & MENA FATF (for Middle East & South Africa Financial Action Task Force( under its ongoing global AML/CFT compliance process. Iraq will work with MENAFATF to improve further its AML/CFT regime. Link :http://www.fatf-gafi.org/publications/high-riskandnon-cooperativejurisdictions/documents/fatf-compliance-june-2018.html) Only time now will tell Soon sooner later Go RV As soon as appropriately possible😎✌💪
  16. Just a few more shortlist & flashing back certain major news progress that i can think of right now,nnjoy.. November 20, 2017 Summary of the Annual Meetings Report of the International Monetary Fund and the Talks of the Credit Union ( Third Round ) and the visit of the Governor of the Central Bank to the UN Security Council ... Click here to download Link : https://cbi.iq/news/view/495 https://cbi.iq/static/uploads/up/file-151116963925280.pdf PAGE 1 Pure Report The Republic of Iraq Central Bank of Iraq Annual Meetings of the International Monetary Fund and Convention Talks (Third round) and the visit of the Governor of the Central Bank & the UN Security Council Introduction: Experiences on the latest changes in economic policies (monetary and financial) and their instruments and the global banking system Particularly in the area of compliance with FATF recommendations (h) in the area of combating money laundering and financing A meeting was held with the US Treasury delegation Cash and capital markets were discussed with the department In which the Fund was assisted To reduce the difference between the price Formal exchange and parallel market and re Structuring of good banking and Rafidain Bank. Visited Iraq during the period And meet the Governor And Iraqi officials to promote Cooperation between the two parties in particular Both companies British & French company promised in meetings to reduce the initial cost which it had previously provided to the Bank for the polymer curenccy Marked and competitive for the polymer coin ***if the central bank administration has taken Iraqi decision ***to adopt the polymer currency in the coming year***. ***Discuss the topic of the transformation from paper currency to the polymer coin which showed the study provided**** ***The British company*** Delaru will be reduced the printing costs of the currency strengthen the security issues of the currency of the possibility of fraud by forging rings currency and the sustainability of the new currency three times when trading compared to the current currency. ***The French company Obrethure, the French company***, I met with the Governor and the accompanying delegation an invitation to visit The company's center and the company's representative gave the same points Offered by the company Delarue about the conversion of the currency Polymer instead of the current conventional paper currency. Implement the plan of the Central Bank in the restructuring of the banking system in Iraq, especially in the field of reducing the number Banks in Iraq, restructuring government banks and reducing the number of banking companies. And convert financial transfer companies into entities with strict instructions and controls as in banking systems in the world. We are currently coordinating with our international partners to find the appropriate formula to return The structure of the system will be presented to the Board of Directors for final study, discussion and approval. To the Member States during his meeting with the Governor and his accompanying delegation in Washington. Forming a team selected by the Governor to open channels of prospects of cooperation in opening banking relations and exchanging experiences and technical assistance, especially after the fruitful meeting in Washington between the Governor of the Central Bank and the Governor of the Saudi Monetary Agency. Review the printing of the Iraqi currency between the choice of the current paper currency and the polymer currency in terms of cost And long-term security, especially as the Iraqi economy and daily financial transactions Banking is heavily dependent on cash handling rather than price cards. Prepare a working paper for the Conference on the Reconstruction of Free Zones organized by the terrorist organization to be organized in Kuwait at the beginning of next year by a team specialized in the Central Bank of what can be achieved from the countries Reconstruction and mechanisms to ensure the success of these projects. November 20, 2017 & so why we are seing this & a whole lot more news nowadays build up prior from the CBI with IMF/WB,UNSC & US Treasury November 20, 2017 last year. But it all started after...according to the Cbi Strategic Plan that is...Link : https://cbi.iq/page/77 Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved) November 14, 2017 2732 Views Law of the Second Amendment to the Law of the Central Bank of Iraq issued by Order No. (56) of 2004 on the Coalition Provisional Authority (dissolved) In the name of the people Presidency On the basis of what was approved by the House of Representatives and ratified by the President of the Republic based on the provisions of item (I) of Article (61) and Article (III) of Article (73) of the Constitution The following law was issued: Positive reasons To increase the capital of the Central Bank of Iraq and ***to keep abreast of the global economic development*** and grant powers to the bank and increase the number of members of the Board of Directors of the bank from outside the bank and the formation of the Audit Committee and the issuance of commemorative coins and the imposition of interest on loans granted by the bank to commercial banks and the preservation of funds from the bookings issued by judicial decisions. This law was enacted Link : http://ar.parliament.iq/2017/11/14/قانــون-التعديل-الثاني-لقانون-البنك-ا/ Is it time to delete three zeros from the currency Economy News Baghdad The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "***The subject of deleting zeros from the currency is ready***, but it needs an environment suitable to apply," noting that " To prevent ***manipulation and fraud*** by the owners of weak souls. " The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister. He added, the appearance of Mohammed Saleh, in an interview, "the economy News," that "***the current environment suitable for this project*** because there is financial and political stability witnessed by the country, especially after the salvation of the organization (Dahesh) He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "***the central bank has accumulated experience in dealing with the subject***". Link : http://economy-news.net/content.php?id=11818 Rafidain Bank and the company to provide international services soon to all the beneficiary segments Economy News _ Baghdad The International Smart Card Company (KI) confirmed on Monday that Rafidain Bank and KI will provide global services soon to all beneficiary segments. He explained that "the specialized teams at both ends of the process Rafidain Bank and (K) continue to study different candidates and choose the best serving the Iraqi family," noting that "the coming period will see the provision of services at a global level to all segments of the beneficiary." "The new services shorten the time and effort and reach the beneficiary without any trouble, and this is an advanced step towards global service delivery," he said. Views 896 Date Added 07/09/2018 Link : http://economy-news.net/content.php?id=12856 MEETINGS COVERAGE AND PRESS RELEASES SC/13372 7 JUNE 2018 SECURITY COUNCIL Security Council Sanctions Committee concerning Iraq Removes One Entity from Its Sanctions List On 7 June 2018, the Security Council Committee established pursuant to resolution 1518 (2003) approved the removal of the following entity from its List of Individuals and Entities subject to the assets freeze set out by paragraphs 19 and 23 of Security Council resolution 1483 (2003) adopted under Chapter VII of the Charter of the United Nations. IQe.001 Name: CENTRAL BANK OF IRAQ A.k.a.: na F.k.a.: na Address: Rashid Street, Baghdad, Iraq Listed on: 21 Nov. 2003 Other information: Activity: Central Bank (bank of issue and controller of the banking system) Link : https://www.un.org/press/en/2018/sc13372.doc.htm July 01, 2018 Iraq officially exits from list of countries subject to monitoring and follow-up by FATF The FATF officially announced Iraq's exit from the follow-up area, as the CBI and the AML / CFT have made significant progress in improving and addressing deficiencies and meeting all its commitments to FATF recommendations and addressing the requirements of the Anti-Money Laundering Strategy And the financing of terrorism prepared by the Central Bank of Iraq as well as the legislation of the Anti-Money Laundering Law No. 39 of 2015 and the issuance of instructions and controls and the establishment of the Council against Money Laundering and Financing of Terrorism as well as the Committee for the freezing of funds of terrorists, Monitoring and follow-up by FATF . Link : https://cbi.iq/news/view/748
  17. How to delete the upper post guys? I did some text correction & later found out it could not be deleted. Just note that correction occurs that the Cbi Strategic Plan which i intend to highlight was all in page 11 & not 10. U could do the checking urself yarr just open up the plan it was located in page 11 which include the Cbi current progress as the Gabenor previously say They Are Ready. Please be informed. Cheers😉✌
  18. Yup you got the point. Situation is different now as it were back in previous year. Never seen such a move by both Goi & Cbi lately. Heck we can almost do a checklist on the Cbi Strategic Plan now haha Before they head for this action which is in Page 11 on the plan, education & awareness campaign is all we see on the news by both Cbi & Goi but especially Cbi in promoting,educating & training to prepare their new global agenda. Then next page 11 is where there headed & so should we. With current Cbi progress especially after global awards recognition & lifted from UNSC Chapter 7 list i would say they are steading moving forward with the plan. But as to when its gonna happen we are still where we are now,speculating & expecting based on current progress. But i have a feeling & hoping too it wont be long now. As always keep the faith as we are steadily set to sail bigtime. Go new monetary policy Go Cbi global currency tradeable recognition without restriction,Article VIII IMF. Lets roll💪💰 http://www.cbi.iq/ On page 11, for "Stable and steady exchange rate:" ✅Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through, Withdraw excessive cash in the market and regulate sufficient amount of banknotes. Diversify investment tools qualitatively and timely and introduce convertible new currencies. ✅Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools. Re-structure or review periodically the interest rates. Link : CBI Strategic plan https://cbi.iq/page/77 Note :🚏That is just my imo ticking checklist you could do your own, heck i could be wrong🤗🙏. Just to know where we stand now. Peace😎✌
  19. Yup you got the point. Situation is different now as it were back in previous year. Never seen such a move by both Goi & Cbi lately. Heck we can almost do a checklist on the Cbi Strategic Plan now haha Before they head for this action which is in Page 10 on the plan, education & awareness campaign is all we see on the news by both Cbi & Goi but especially Cbi in promoting,educating & training to prepare their new global agenda. Then next page 11 is where there headed & so should we. With current Cbi progress especially after global awards recognition & lifted from UNSC Chapter 7 list i would say they are steading moving forward with the plan. But as to when its gonna happen we are still where we are now,speculating & expecting based on current progress. But i have a feeling & hoping too it wont be long now. As always keep the faith as we are steadily set to sail bigtime. Go new monetary policy Go Cbi global currency tradeable recognition without restriction,Article VIII IMF. Lets roll💪💰 http://www.cbi.iq/ On page 11, for "Stable and steady exchange rate:" ✅Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through, Withdraw excessive cash in the market and regulate sufficient amount of banknotes. Diversify investment tools qualitatively and timely and introduce convertible new currencies. ✅Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools. Re-structure or review periodically the interest rates. Link : CBI Strategic plan https://cbi.iq/page/77 Note :🚏That is just my imo ticking checklist you could do your own, heck i could be wrong🤗🙏. Just to know where we stand now. Peace😎✌
  20. Yup it's all been on the plan,Cbi Strategic Plan Link : https://cbi.iq/page/25 Non-banking financial institutions INSTITUTION NAME 4. International Smart Card (Semi Government) LLC Including the smart card company about to provide global service with new convertible currency😆 Strategic Plan CBI Strategic plan (2016-2020) https://cbi.iq/page/77 On page 11, for "Stable and steady exchange rate:" Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through, Withdraw excessive cash in the market and regulate sufficient amount of banknotes. Diversify investment tools qualitatively and timely and introduce convertible new currencies. Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools. Re-structure or review periodically the interest rates.
  21. http://www.cbi.iq/ On page 11, for "Stable and steady exchange rate:" Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through, Withdraw excessive cash in the market and regulate sufficient amount of banknotes. Diversify investment tools qualitatively and timely and introduce convertible new currencies. Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools. Re-structure or review periodically the interest rates. Link : CBI Strategic plan https://cbi.iq/page/77 Convertible New Currency It's all making progress now one by one b4 they finally hit the road💪😎
  22. SD, Thank You for referencing this plan again. I was surprised to see the CBI actually had a plan when it was first published, and better yet, and were going to actually implement it! LOL If nothing else, the future news articles will likely bear out the viability of the plan implementation. I suspect the creation and planned implementation of the plan has something to do with the IMF, WB, etc. requirements for loans and/or economic investment in Iraq. Here is where I referenced the CBI Strategic Plan 2016 - 2020.
  23. Good Morning S.D.. Yes this has already been posted. There is very seldom anything that slips by our group of Newshounds, they do a very good job of posting everything relevant to Iraq. In the future, before you post an old news item (more than two days old), you should use the search feature (top right of the menu) to look for it. A simple search using the terms, "cbi strategic plan" returns the below results http://dinarvets.com/forums/index.php?/search/&q="cbi strategic plan"
  24. I'm actually getting excited as well. I just got off of the CBI website. On their homepage they have a new CBI strategic plan for 2016-2020. I read through it. It's a great read. It gives a mission statement and vision. It also specifically talks about a stable exchange rate achieved by removing excess cash from circulation, among other things. This means reducing the note count to bring the value of all remainging notes up. I highly recommend reading through it it is a comprehensive list of their goals and objectives. I tried to bring a link over but I'm technologically challenged. It also talks specifically about eliminating corruption and going high tech (like the rest of the civilized world), which is why I brought this up on this thread. Let me know what your thoughts are because I think this the most info they have ever disseminated and it's all what we want to see prior to a significant change in the value of the dinar.
  25. Am I reading this right? Buy/Sell IQD 127.00/126.00 = 1 USD in the Iraqi markets? If so, we are moving in the right direction! On the CBI home page, there is a new link for the CBI Strategic Plan for 2016-2020. Sorry, for some reason, would not copy. Here is the CBI home page: http://www.cbi.iq/ On page 11, for "Stable and steady exchange rate:" Re-Structure the non-banking financial institutions particularly those in money transfer and exchange through, Withdraw excessive cash in the market and regulate sufficient amount of banknotes. Diversify investment tools qualitatively and timely and introduce convertible new currencies. Authorise responsible department(s) to perform and utilize their tasks and duties in purchasing and selling of foreign currencies and investment tools. Re-structure or review periodically the interest rates. This is good news to me! Hopefully, these items will be implemented as soon as possible in 2016 and not wait until the end of 2020! The CBI currency auction for March 10, 2016 is: Currency Auctions Announcement No. (3155) The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 10/3/2016 and the results were as follows: Details Notes Number of banks 24 Number of remittance companies 20 Auction price selling dinar / US$ 1182 Auction price buying dinar / US$ ----- Amount sold at auction price (US$) 92,700,000 Amount purchased at Auction price (US$) ----- Total offers for buying (US$) 92,700,000 Total offers for selling (US$) ----- Hopefully, these auctions will be ending soon.
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