Central Bank puts the finishing touches to lend to five trillion dinars mechanisms

[yota691]

Central Bank puts the finishing touches to lend to five trillion dinars mechanisms

 

 

 

 

Author: Editor: sz Reporter:

Number of Views: 202

 

08/12/2015 16:24

 

Tomorrow Press / Baghdad announced by the Special Committee responsible for developing lending five trillion dinars mechanisms, David Abdul Zayer, Wednesday, for the finalization of the mechanisms and regulations and the priority of lending five trillion allocated to the banks sector dinars. The head of the National Business Council, David Abdul Zayer , for "tomorrow Press", "The Status of lending mechanisms within the allotted Central Bank program five trillion dinars Committee completed its work and put the finishing touches on the mechanisms and instructions and priority of lending five trillion allocated to the banks sector dinars." He added, "our work to develop mechanisms and instructions are flexible and smooth at the same time determined to ensure the safety of public money, "noting that" the five trillion must lend to projects actually contribute to moving the wheel of the local economy. " He stressed that "the interest rate set at 3% at the request of the government banks managers a satisfactory rate somewhat Lama Delivery of loans dates admittedly procedures established will not take a long time, especially if provided the borrower all loan requirements. " The Committee consisted of 11 personal, including industrial, agricultural, real estate and housing banks, Rafidain and Rasheed, and a representative of the central bank and other managers as well as David Abdul Zayer, who was representing the voice sector private.

 

[yota691]

Central Bank program five trillion dinars Committee completed its work and put the finishing touches on the mechanisms and instructions and priority of lending five trillion allocated to the banks sector dinars."

[djiboutikid]

This is BIG! 5 TRILLION Dinars for local banking lending?!?!? Talk about a Stimulus! That one could actually work, unlike what the teleprompter has done here!

[Laid Back]

I hope the CBI is lending the 5 trillion after increasing the exchange rate.

We know the CBI has been working in reducing the note count. It doesn't make sense to bring 5 trillion dinar into circulation.

Maybe they're talking about the new notes ( lower denomination ) with more value?

Just my opinion.!

We patiently wait

[Wiljor]

Thanks Yota and good morning, not only is the oil flowing but so is the money. Keep er moven boys and lets get this thing completed, Im ready to move on to the next project.

Edited August 13, 2015 by Wiljor

[MyLadiesDaddy]

This is BIG! 5 TRILLION Dinars for local banking lending?!?!? Talk about a Stimulus! That one could actually work, unlike what the teleprompter has done here!

Is it really,"local"?

The amount causes me to think of another country.

[djiboutikid]

Is it really,"local"?

The amount causes me to think of another country.

Not picking LGD, just quoting the article for you:

He added, "our work to develop mechanisms and instructions are flexible and smooth at the same time determined to ensure the safety of public money, "noting that" the five trillion must lend to projects actually contribute to moving the wheel of the local economy. "

 

I know it would be too easy for large amounts of this money to flee the 'local economy', but with the smackdown Abadi is providing the corrupt Maliki, and the Overwhelming support for his anti-corruption reforms, I think more folks will be less interested in cheating the system since Abadi has shown time and again that he means business. Hopefully 'soon' 'in the coming weeks' that business will be inviting our dollars and dinars to grow Iraq!

[sandfly]

THANKS

[yota691]

Keywords: launch projects through loans days

 

      Saturday   15   August   2015 | 12:30

 

 

 

 

Keywords: Iraq needs economic renaissance able to achieve the country's resources and without them there will be no stability

 

 

The governor of the Central Bank on the Keywords that "Iraq before the financial crisis and should prevent a through real planning to achieve economic stability," and called for "reform of the base material successful and effective situation." He added Keywords in his speech at the annual economic conference of the Iraqi Council of businesswomen that "Iraq Need an economic renaissance able to achieve the country's resources and without them there would be no economic stability, "pointing at the same time to" the need for Iraq to be able to absorb the economic advancement of the market. " He continued Keywords "The central bank will launch loans to finance small and medium enterprises in the coming days to support economic growth in Iraq. "

 

[yota691]

08/15/2015 16:35

Keywords: central bank will launch the Enterprise loans

 

 

 

The governor of the Central Bank on the Keywords, Saturday, that Iraq needs economic renaissance able to achieve the country's resources, while noting that the launch of project loans will be in the coming days.

BAGHDAD / Obelisk: The governor of the Central Bank on the Keywords, Saturday, that Iraq needs economic renaissance able to achieve the country's resources, while noting that the launch of projects loans will be in the coming days .

Keywords and said in his speech at the annual economic conference of the Iraqi Council of Business and I followed "obelisk", that "Iraq before the financial crisis and should prevent a through real planning to achieve economic stability", calling for "reform substantially successful and effective base setting . "

Keywords adding that "Iraq needs economic renaissance able to achieve the country's resources and without them there would be no economic stability," pointing at the same time to "the need for Iraq to be able to absorb the economic advancement of the market . "

He Keywords that "the central bank will launch loans to finance small and medium enterprises in the coming days to support economic growth in Iraq . "

It is said that the central bank governor said (8 August 2015) that public expenditure did not contribute to the expansion of the productive base and did not achieve any development of the Iraqi economy, as explained that without the work done by the bank to Iraq experienced a financially difficult situation, he noted bond issue worth five billion dollars to be sold on credit in favor of the Ministry of Finance.

[yota691]

 

Businesswomen Conference for the advancement of economic reality, which was held at the Sheraton Hotel in Baghdad in the presence of Governor of the Central Bank on the Keywords

The central bank allocated proportion of its loans to women for the advancement of economic reality

 

Author: HH, MJM 
Editor: HH, NS 15/8/2015 17:30 Number of Views: 1121 

 

 

Long-Presse / Baghdad

Said Governor of the Central Bank of Iraq on the Keywords, on Saturday, the central bank allocated proportion of its loans to women to set up projects, among that this project is the largest program to stimulate the economic reality in the country, head of the Iraqi Council of Businesswomen morning Tamimi confirmed that a woman is capable of decision-making It is a real partner in the creation of an economic renaissance in Iraq.

He said on the Keywords in an interview with the (long-Presse) on the sidelines of the establishment of Business Women Council in the Ishtar Sheraton Hotel in Baghdad, that "the Iraqi Central Bank launched a project loans through the largest funding program in Iraqi history after the allocated six trillion Iraqi dinars," noting that " The central bank will make women part of these loans and will gain share for the establishment of projects. "

He added Keywords, that "women have an important role in Iraqi society and can be developed through a lot of craft industries and they have proven their ability to work towards some big projects and we have in this direction numbers," adding, "This project is the largest program to stimulate economic reality and can diversify production base in the country and will work on a number of sectors such as industrial, agricultural and housing. "

For his part, head of the Iraqi Council of Business Women Sabah al-Tamimi said in an interview with the (long-Presse), that "this Council has terms of reference that deal with the field of Business Women of economists and labor experts, as well as capital," asserting that "women capable of decision-making, a real partner in create economic development renaissance as a lesson, especially in Iraq to the world. "

Tamimi said, that "today there were a number of recommendations for businesswomen economies and investors and workers will be an important eight points the way for investment and lending and customs exemptions for women to be able to start economic life."

The central bank, announced on Saturday (the eighth of August 2015), the launch of an initiative to support the agricultural, industrial, real estate and housing fund sector banks with loans amounting to five trillion dinars, with the exception of the initiative "a good step" for the recovery of the economic situation and liquidity, he confirmed they come to avoid foreign loans.  

The World Bank in (July 9, 2015) approved, a new project for Iraq aimed at the reconstruction and rehabilitation of infrastructure destroyed by conflict in the country and restoration of services in the government-controlled areas, and among the assistance program of $ 350 million, confirmed that the program is part of a larger program will be implemented over five years in the provinces of Salahuddin and Diyala.

[Texstorm]

Here is where it gets good ! We've all heard 3T dinars and 5T dinars well that much $ would probably go around the planet 3 times. Iraq has to add value to the dinar or hire a couple million book keepers. I don't believe it for a moment you physically can't print that much or store that much paper. I just don't believe it ! They will have to convert or forever be stuck with a mountain of paper. Some of you are going to say well that's electronic well I'm telling you electronic or not to infuse 3T or 5T dinars into all of the banks is utter BS ! I'm calling BS ! Something is happening right this second! This ride is as good as a well done steak ! And I'm still calling BS ! GO REVALUATION !

[yota691]

Governor of the Central Bank: Iraq before the financial crisis and should prevent a through real planning The number of visits: 1425 Published on: Yesterday, 12:20 Published by: Hamid   The governor of the Central Bank on the Keywords, Saturday, that Iraq needs economic renaissance able to achieve the country's resources, while noting that the launch of project loans will be in the coming days. Keywords and said in his speech at the annual economic conference of the Iraqi Council of businesswomen that "Iraq before the financial crisis and should prevent a real planning through to achieve economic stability", calling for "fundamental reform of successful and effective base situation." Keywords adding that "Iraq needs economic renaissance able to achieve the country's resources and without them there would be no economic stability," pointing at the same time to "the need for Iraq to be able to absorb the economic advancement of the market." He Keywords that "the central bank will launch loans to finance small and medium enterprises in the coming days to support economic growth in Iraq." It is said that the central bank governor said (8 August 2015) that public expenditure did not contribute to the expansion of the productive base and did not achieve any development of the Iraqi economy, as explained that without the work done by the bank to Iraq experienced a financially difficult situation, he noted bond issue worth five billion dollars to be sold on credit in favor of the Ministry of Finance.

 

[MyLadiesDaddy]

Here is where it gets good ! We've all heard 3T dinars and 5T dinars well that much $ would probably go around the planet 3 times. Iraq has to add value to the dinar or hire a couple million book keepers. I don't believe it for a moment you physically can't print that much or store that much paper. I just don't believe it ! They will have to convert or forever be stuck with a mountain of paper. Some of you are going to say well that's electronic well I'm telling you electronic or not to infuse 3T or 5T dinars into all of the banks is utter BS ! I'm calling BS ! Something is happening right this second! This ride is as good as a well done steak ! And I'm still calling BS ! GO REVALUATION !

Oh my, now you're starting to sound like me.   

[TrinityeXchange]

Here is where it gets good ! We've all heard 3T dinars and 5T dinars well that much $ would probably go around the planet 3 times. Iraq has to add value to the dinar or hire a couple million book keepers. I don't believe it for a moment you physically can't print that much or store that much paper. I just don't believe it ! They will have to convert or forever be stuck with a mountain of paper. Some of you are going to say well that's electronic well I'm telling you electronic or not to infuse 3T or 5T dinars into all of the banks is utter BS ! I'm calling BS ! Something is happening right this second! This ride is as good as a well done steak ! And I'm still calling BS ! GO REVALUATION !

sorry Texstorm but there is extreme disconnect here.  i am entirely missing your point from an economics perspective.  you're truly entitled to your opinion.  i just don't follow the logic.

Oh my, now you're starting to sound like me.   

please help me understand

[MyLadiesDaddy]

sorry Texstorm but there is extreme disconnect here.  i am entirely missing your point from an economics perspective.  you're truly entitled to your opinion.  i just don't follow the logic.

please help me understand

Ya got me with the macroeconomics part Prof., but I do believe that were 

 

definitely going to see something this yr. 

[TrinityeXchange]

texastorm if you get a chance please review a post i did months ago.  what we see taking place has been in the works for quite some time.  i know you believe it to be BS, and fair enough.  however i would just like to share a different perspective that might clarify things a bit more.  

but I do believe that were definitely going to see something this yr. 

i am believing with you LGD.  at this point we are seeing all of the necessary ground work for true reformation.  

[Texstorm]

Hello TrinityeXchange ! I did read your post back then. As to this post I can not fathom an infusion of 3T-5T dinars into Iraq's banking system. I am an RVer till the big lady sings or a LOP occurs. If Iraq prints that many new IQD there is no way to cover an RV. That's why I'm calling BS ! If it is possible for them to RV after that much dinar please let me know how. Thanks

[Texstorm]

Does anybody feel the way that I do or do y'all think that they can just keep printing trillions of dinar with no change in value......?............. 

[MyLadiesDaddy]

Does anybody feel the way that I do or do y'all think that they can just keep printing trillions of dinar with no change in value......?............. 

We do it

[TrinityeXchange]

Hello TrinityeXchange ! I did read your post back then. As to this post I can not fathom an infusion of 3T-5T dinars into Iraq's banking system. I am an RVer till the big lady sings or a LOP occurs. If Iraq prints that many new IQD there is no way to cover an RV. That's why I'm calling BS ! If it is possible for them to RV after that much dinar please let me know how. Thanks

Good morning Texstorm.  Here is my theory on why this is positive for our investment.  

• Liquidity (economic stagnation) - there is a definite liquidity problem with the banking system.  because of this, the economy for all intents and purposes is stagnant.  in order to get the economy moving under this new economic plan, the cbi (through monetary policy) must spur economic growth.  my previous opinion piece that we have been referring to highlights the cbi's plan to perform this through Open Market Operations (OMO).  if this is a new term for anyone reading this, i strongly encourage you to watch the 1:30min video on this page, it is very well done.  
• Infusion Money - so the concern of some is that infused money will water down the money in circulation, but it won't.  the money in circulation that we hold  (cash & coins) is M0 money.  money infused by the central bank into the private banks for reserve currency that they can loan against is MB (base money).  base money is not part of M0.  
• Labor Force Increase - the infusion money will create reserves (liquidity) for private banks to loan against.  these new loans will create new M1 money into the economy for the purpose expanding the marketplace and creating new jobs.  
• Momentum Increase in Currency - the fastly expanding labor force will naturally boost the market because working people will now have more money to spend.  money will circulate through their hands numerous times forcing its value to organically increase.  this is in accordance with the Quantity Theory of Money (i did a write up in simplified terms explaining this vs iraq's economy).  

i purposely kept my response short and without much depth.  in a nutshell though iraq currently has no modern day economy.  much of their economic infrastructure is facilitated by government entities.  we will watch for the first time the implementation of a new economic plan for this country.  this should create and significantly increase volume to the transactions of good and services domestically.  it is reported that iraq's unemployment rate is 25%.  imagine if they can get this number below double digits what this will mean for the velocity (number of times of circulation) of the dinar.  

 

this is fantastic for us because we are seeing something more than just counting notes and trying to determine how iraq can support an rv.  i appeal to everyone to get out of that frame of mind.  instead see the big picture.  this country for the first time is about to build a true economy.  people will be buying homes and cars and furniture and entertainment.  the dinar you hold in your hands haven't even began to see its real value yet.  but again....this is just my opinion/theory so take it for all  worth that it is.  

[Texstorm]

Thanks for your explanation TrinityeExchange in simple terms. That's what makes it so hard for me to put first "like the chicken and the egg" I agree with your synopsis overall about how they need to jump start the economy. It's the value of the M0 that we are concern with and with all of these delete the zero's articles makes me ask the question how do you pay people with a currency that doesn't have much value ? There is no purchasing power ! There's no buying power ! 

[TrinityeXchange]

It's the value of the M0 that we are concern with and with all of these delete the zero's articles makes me ask the question how do you pay people with a currency that doesn't have much value ? There is no purchasing power ! There's no buying power ! 

Texstorm please regard me as nothing more than an economic hack.  our discussion here is for little more than entertainment purposes only.  but let's see if we can reason our way through to a solid answer together.  

 

for the life of me i struggle to understand what people mean when they say the currency has no purchasing or buying power.  a typical iraqi with dinar in hand is able to walk to the corner store and purchase a pepsi, pop the cap, and guzzle.  wouldn't you agree?  is that not purchasing power?  and so it stands to reason that the dinar does have purchasing power in the confines of the domestic market.  now, let's leave the confines of the domestic and venture into the international market.  here we know that the dinar serves no major purpose since most countries don't deal in the dinar.  in its place the usd is the money of choice.  and so it is today that iraq has multiple currencies in use for its citizenry, the usd & iqd.  

 

if iraq is to give international power to its currency, it will have to produce a demand for it whereby foreign currency enter the country and is converted into iqd at some relative exchange between the two countries.  before this can happen however there must be some confidence established for the foreign investor.  this is why the central bank governors up until this point have worked hard to convincingly prove their ability maintain a stable domestic exchange rate against the usd exchange rate.  this is one of the reasons why the cbi will not allow iqd to flow into the country because it could add difficulty to managing the domestic exchange rate balancing act.  there are other factors as well falling under the umbrella of "confidence" for foreign investors to demand the iqd represented by foreign capital flowing into iraq and being transferred into iqd at the determined international exchange rate.  

 

and so from this synopsis of demand for the iqd by foreign investors we understand the importance of international trade and iraq's ascension into the world trade organization.  the wto adds another level of confidence between trading partners since they all agree to predefined standards in trade.  it is global trade demand that takes a country's currency from the domestic market demand to the international market demand.  it all comes down to demand demand demand.  can iraq stabilize its country?  can it build an economy that catches the eye of foreign investors?  can iraq produce demand for the iqd?

 

here is an excerpt from "6 Factors That Influence Exchange Rates":

Foreign investors inevitably seek out stable countries with strong economic performance in which to invest their capital. A country with such positive attributes will draw investment funds away from other countries perceived to have more political and economic risk. Political turmoil, for example, can cause a loss of confidence in a currency and a movement of capital to the currencies of more stable countries. 

[Texstorm]

Thanks again Trinitye ! The problem with Iraq Trinitye is that they lost focus on the first important thing on re-building a war torn nation "SECURITY". That is one of "O's" biggest faults was pulling our soldiers out of there...."where are our soldiers now ?" back in Iraq ! According to the WB "World Bank" " No nation has made significant and sustainable progress toward reducing corruption in less than 14 years and on average it took successful nations 27 years". I say Iraq does not have that long to be a successful nation , there are way too many X factors to take them down , like Iran for one. Scenario....Iran develops a nuclear war head and Israel takes them out ! Well that would be on the major side but not entirely impossible, there are numerous other possibilities that i'm sure our CIA are aware as well. In looking at the successful synopsis that you so eloquently laid out. it is a text book picture perfect situation and can work out if Iraq follows the protocol  of who ever their donor nation will be, along with the WTO, WB, IMF, etc........ Right now Iraq has commodities that everyone wants and needs and yet they are so mired in cycles of violence's that are not just going to go away without generations passing by ! I think that Iraq has stabilized their currency enough to pull off an M0 Revaluation, they can ride the oil market back to the top again and it will rise. The truth is they are going to have to take chances to belong to the world markets. We all know what their $ was worth and everyone's $ around them. Trinitye I do not see investors wanting to flock to Iraq if they can't make money, I feel that Iraqs money has to be worth something over here in the good ole USA if they want to attract investors from here. I could be an investor in Iraq but i'm not trading anymore dollars for dinars until the IQD has value. I still maintain the timing is now , under the WB facts scenario it could take Iraq 15 more years at present pace and those are the facts. Thanks

[TrinityeXchange]

You make some very valid points my friend. Here is believing for at least a $0.10 increase in the near future. They give me that, I am out!

Edited August 17, 2015 by TrinityeXchange