Any thoughts on this?

[coorslite21]

thought I would post this here...I know there many Warka account holders here........seems when I get away from OSI, VIP I get some negative feed backs....would enjoy hearing your thoughts....the translation is a bit rough......but both google and bing were pretty close to each other in the translation....This sounds very promising for the Warka investors and those with Warka bank accounts...


BAGHDAD Mustafa al-Hashemi,

The Iraqi Central Bank seeks to stimulate the private banking sector through the removal of private banks from speculating in dollars and support the provision of mechanisms to strengthen its activity and increase profits which would get the economy moving and directing them to take the real role in development.

 

In the process of this context, the Central Bank Governor Dr Ali Alak said that the coming days will witness the return of banking activity the economy and the Warka Bank after the completion of raising the central tutelage them measures.

 

He said in a statement the "morning" the banking sector where the future and the trading of exaggerations in the conditions of these banks are exaggerations improper where we hear every now and then there are the banks under guardianship because of hardship or bankruptcy.

Lifting guardianship and stressed that this is not accurate we do not have only one bank is now under the custody of "Bank of the economy" and soon will finish this stage to return to work In addition to the Warka Bank who had got the problems and now began to re-position the central bank is considering now with the Department of the Bank of ways to promote it.

The governor stressed that the central bank stimulates the private banking sector and the private banks to exercise their activities in accordance with international standards, and the fact that modern mostly it You need the care and support from the central bank.

 

While Nbadha the speculative dollar we have been working to compensate this aspect and provide other tools can strengthen its role and increase its activities and profits, pointing out that the central process of doing a set of procedures as well as put forward proposals adopted by the Bank in the Economic Committee of the Council of Ministers and have been endorsed and acceptance they contribute to upgrading the role of these banks.

 

Government deposits and continued relationship was for banks restricted role in the granting of letters of credit to a certain extent now we raised the ceiling of this authority to grant such credits, pointing out that the central coordinate with the Ministry of Finance to obtain approval to accept the idea that the private banks can receiving government deposits, and dealing with the fees instruments that pay to the private banking system as it now does not accept the government transactions.

He noted that the law guarantee deposits will be discussed soon in the House of Representatives will lift the state of lack of confidence, because this sector is working foundation principle on the issue of public confidence. project funding announced by the Central approval to lend specialized in the fields of housing and construction, industry, agriculture, commercial banks, which continues to this aspect as the bank is working on a very important project marks a turning point and the start of many countries in the world is to finance small and medium enterprises project, Msttrda

 

We are now coordinating with banks to develop a plan in this context, because it is possible to move and stimulate the economy and determine the unemployment in the country and this is one of the strategic projects financed by the central bank of what would contribute to GDP. He stressed that the models that I quoted from some of the world in this successful and encouraging area and must move quickly this There is also a trend that multiple ideas were discussed with private banks to take the national and economic role.

http://www.alsabaah.iq/ArticleShow.aspx?ID=88282
 

[Pansondv]

Millionday Friday Roundtable

3/6/2015

 

Millionday Round Table 3/6/2015   

Welcome to dinarupdates.com for Roundtable with Millionday!

Millionday says(12:22 PM):  HERE WE GO 

Millionday says(12:22 PM):  A source in the Iraqi Central Bank, on Thursday, the banks will begin the implementation of remittances to their customers starting next Sunday, noting that it came after the completion of all the procedures and mechanisms by banks. 

The source said in an interview with Alsumaria News , "The banks will begin the implementation of remittances to their customers starting on Sunday 03/08/2015."

Millionday says(12:23 PM):NOTE -- THE BEGINNING OF THE REMITTANCE WILL BE ON THE 8TH OF MARCH -- THIS IS SUNDAY COMING UP -- SMILE 
~~~

 

Millionday says(12:23 PM):  The source, who asked not to be named, said: "This came after the completion of all the procedures and mechanisms by banks."

The source of early detection, in the (February 25, 2015), the Central Bank of Iraq began to apply the new system of remittances and sell the currency, as he pointed out that the bank denied stopped selling the dollar.

Millionday says(12:26 PM):  SO AS WE SEE HERE -- THE BEGINNNING WAS STEPS THAT NEEDED TO BE TAKEN CARE OF AND NOW THEY ARE ANNOUNCING THAT THEY HAVE COMPLETED THE PROCEDURES AND MECHANISM

Millionday says(12:26 PM): END OF REPORT

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I quietly add that 3.90 is the rate said to be on the back screens of banks around the world.

[Captainron601]

Thanks Millionday

[jcfrag]

Coorslite is referring to the part about the banks under guardianship and in bankruptcy. It certainly looks promising for WARKA as they are addressing what to do about them and how they want to revive the economy...what better way then to back the banks having problems. WARKA is actually a huge commercial bank and in as much would be a huge headache to shut all of their branches and ATMs down. I hope they agree and do what they can for the economy!!!!