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The government plans to issue bonds to support private banks


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The government plans to issue bonds to support private banks

01/03/2015
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BAGHDAD / JD / .. Committee announced that the economy and investment representative, for the determination of the government to support the private banking sector by issuing securities backed.
A member of the committee MP Harith Snead told / BD /: that the government intends to support private banks through the issuance of securities backed by, to play those banks to grant soft loans to small and medium-sized industrial projects.
He added that this project will enhance the growth of the Iraqi economy will develop as the industrial sector and develop the work of the private banking sector, adding that the committee is working hard to legislation important laws that serve the interests of the national economy.
The Prime Minister Haider al-Abadi, had announced earlier in the government program, which includes a strategy to support the private sector and diversify the state financial revenue plan. / End / 8 /

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This ride is certainly coming to an end. All of the check-off items are either being discussed or implemented. It won't be long before we see what's behind door number one. I am under the belief that once a few more laws and internal housecleaning is put into place, we will truly be on the precipice of what we are looking to see.

 

Blessings All,

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This ride is certainly coming to an end. All of the check-off items are either being discussed or implemented. It won't be long before we see what's behind door number one. I am under the belief that once a few more laws and internal housecleaning is put into place, we will truly be on the precipice of what we are looking to see.

 

Blessings All

well said bro.  well said.  the banks are getting ready to be infused with reserve capital from the central bank through the selling of government bonds.  the private banks will then be able to begin a major initiative to create loan agreements.  plus we already read yesterday where the state owned banks were starting their major loan initiative.  they are preparing to jump start the economy.

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It is irrelevant whether they issue these bonds before or after the RV.  If they issue them before, this is exactly the type of financial instrument that would have its terms "adjusted " in the event of an RV.  If someone purchased a 1MM IQD bond (worth $860 at the current exchange rate of $.00086/dinar) and then the three zeroes were removed (making the exchange rate equal to $.86/dinar), the terms of this bond would be changed because of the RV, and it would be re-issued as a 1,000 IQD bond (and still worth $860). 

 

The really important thing to see with regards to the bonds is WHERE will they be traded.  They can be available only to Iraqis, or they can be the types of financial instruments that are traded on the international financial markets. If it's the latter, once again, this is another indication that Iraq is about to open their economy to the rest of the world.  Ch-ching!!!! 

Edited by Rabbi
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The really important thing to see with regards to the bonds is WHERE will they be traded.  They can be available only to Iraqis, or they can be the types of financial instruments that are traded on the international financial markets. If it's the latter, once again, this is another indication that Iraq is about to open their economy to the rest of the world.  Ch-ching!!!!

I've got a friend who is keeping a close eye on the bonds being traded internationally, as in right here. Word has it a major bond company has been waiting with its finger poised above the SELL button for weeks. I guess they're on hold and tired of waiting just like the rest of us.

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Hmm this is gett crazy by the day!!! How is Iraq surviving now without it's daily auctions?  They are not using the dollar so how are they operating?  Don't they have to pull the trigger on RI/RV sometime soon?  Now they talking about bonds....... :confused2:

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easy there Deborah....you might start sounding like a guru :)  haha

Omg, I WISH! Being a dinar guru has been my dream ever since I was a little girl. The legions of fans. The masses, clinging to my every word. The kickbacks on reserves!!

To dream...the impossible dream...

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The really important thing to see with regards to the bonds is WHERE will they be traded.  They can be available only to Iraqis, or they can be the types of financial instruments that are traded on the international financial markets. If it's the latter, once again, this is another indication that Iraq is about to open their economy to the rest of the world.  Ch-ching!!!! 

i highly doubt that they are referring to the international markets.  i believe what they are referring to is the privatization plans to capitalize the private banks in order to boost the domestic markets.  iraq has elected not to go to foreign entities for financing but instead finance its market economy domestically.  i gave what i believe is a pretty sound explanation here and invite your feedback.  

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