Specialists Are Counting On TheGovernment AndPrivate Banks In The Reconstruction Of Infrastructure In Iraq !

[yota691]

More than 20 bank respond to the invitation of the Central Bank of Iraq for the reconstruction and rehabilitation of Rasheed Street and 20 public square in Baghdad

 

 

Economy News / Baghdad responded more than 20 private banks and to invite the Iraqi Central Bank and included "reconstruction and rehabilitation of Rasheed Street, and also 20 public square in the capital Baghdad," by Square each bank, that call was started Naseer Shamma days ago, which it restarted Glocal (LUGAL Foundation) Iraqi volunteer effort, which took attention from the Iraqi Central Bank and the celebration organized on the occasion of the centenary of Omar Rashid Street to have a chance go out to those banks and invites them to contribute to the perpetuation of the symbols of Iraqi heritage. During the meeting, which was held at the Central Bank of Iraq building on Tuesday, the bank's governor, Mr. Ali Mohsen Ismail said during a speech on "the importance of social responsibility for the banking sector and its role in stimulating and supporting yielding social, economic and cultural projects," as is the case in other states, and touched to the financial circumstances faced by the country and which require the concerted efforts of all sectors and groups and civil society organizations in order to support the country and meet the challenges and contribute to the stabilization. He noted the governor "that improve the appearance of the capital Baghdad and the efforts of volunteer gives important positive messages on the level of social and economic", and contribute to the deepening of the spirit of citizenship and social responsibility also creates the impression is positive reflected on the psychological and moral status of the citizen, praising the sovereignty and the role of institution (LUGAL) and give it to the young energies of ideas and plans for the rehabilitation of Hamas and Al-Rashid Street. On the other hand currently underway for the launch of the project (Take a Baghdad) Proposed by artist Naseer Shamma to the launch of large projects that will Backs Baghdad, as befits its status and depth of civilization and culture, as is currently being coordinated on a plan involving "various government institutions, ministries and the Baghdad Municipality and the province of Baghdad, and a Makiya, the Association of Iraqi private banks, businesses, and organizations, economics and business, and the Central Bank of Iraq, "expected to receive the support of those projects nations and international and local organizations.
Views 4   Date Added 09/28/2016 - 14:38   Last updated 09/28/2016 - 14:52   No. Content 5227

[yota691]

Rasheed one of the old streets in the capital Baghdad, the most prominent street Imaging (Mahmoud Raouf)

 

Central Bank announces 20 banks in response to the rehabilitation of Rasheed Street, plazas in Baghdad

 

Author: ASJ, HH 
Editor: HH 28/9/2016 14:51 Number ofViews: 242 
 

 

Long-Presse / Baghdad

The central bank announced on Wednesday, more than 20 private banks in response to the call included reconstruction and rehabilitation of Rasheed Street in addition to the 20 public square in Baghdad, and pointed out that such initiatives give a positive impression and contribute to the deepening of the spirit of citizenship, while stressing the importance of social responsibility sector banking, confirmed that work was underway on the launch of the project (Take a Baghdad) for the implementation of large projects that backs capital, as befits its status and depth of civilization.

A statement, issued by the central bank, received a (long-Presse), a copy of it, that "more than 20 private banks have responded to the invitation of the Central Bank of Iraq and included reconstruction and rehabilitation of Rasheed Street, and also 20 public square in the capital Baghdad, by Square each bank."

The statement continued, that "the invitation was started Naseer Shamma days ago, which it restarted Glocal (LUGAL Foundation) Iraqi effort voluntarily, where he took the attention from the Iraqi Central Bank and the celebration organized on the occasion of the centenary of Omar Rashid Street to have a chance go out to those banks and it invites them to contribute to the perpetuation of the symbols of Iraqi heritage. "

The Governor of the Central Bank on the Keywords According to the statement, "the importance of the social responsibility of the banking sector and its role in stimulating and supporting yielding social, economic and cultural projects, as is the case in other countries," stressing "the concerted efforts of all sectors and groups and civil society organizations, especially in the with financial conditions experienced by the country in order to meet the challenges and contribute to the achievement of stability. "

He explained the Keywords, to "improve the appearance of the capital Baghdad and the efforts of volunteer gives important positive messages on the level of social and economic, and contribute to the deepening of the spirit of citizenship and social responsibility also creates the impression is positive reflected on the psychological and moral status of the citizen," and praised "the role of institution (LUGAL) and give it to the young energies of ideas and plans for the rehabilitation of Hamas and Al-Rashid Street. "

In a related development, the statement said, that "the work is underway for the launch of the project (Take a Baghdad) Proposed by artist Naseer Shamma to the launch of large projects that will Backs Baghdad, as befits its status and depth of civilization and culture, as is currently being coordinated on a plan involving, government institutions and various ministries and the Baghdad Municipality and the province of Baghdad, and a Makiya, the Association of Iraqi private banks, in addition to businessmen and organizations Economics and Business, and the Central Bank of Iraq, "expected to" have those projects supported by countries and international and local organizations. "

[SnowGlobe7]

They are wearing suits...I like that!

[Wiljor]

Change is on the horizon DV, Babylon is rising once again and will be the power house of the ME 

[Laid Back]

More than 20 private banks.... I like this.

Follow the money..... Bankers are in business to make a lot of money.

Bankers knows what it's coming to iraq in the near future.

 

 

[calkid11]

Thank you Yota 

[sandfly]

I HOPE VERY SOON LB

[yota691]

Harithiya area west of the capital Baghdad Imaging (Mahmoud Raouf)

The central bank intends mechanism for the distribution of areas of Baghdad on private banks to put reconstruction

 

Author: HH, MJ 
Editor: BK, HH 1/10/2016 14:48 Number ofViews: 171 
 

 

Long-Presse / Baghdad

Iraqi Central Bank announced on Saturday his intention special mechanism for the distribution of reconstruction projects and rehabilitation of Rasheed Street and public squares in Baghdad on private banks setting, with private banks association confirmed that the designs that will prepare the Iraqi advisory group in coordination with the secretariat of Baghdad, pointed out that its members agreed to continue the reconstruction of other areas in the capital in stages.

The Director-General of the issuance of Closets in central bank Ihsan Shomran, in an interview to the (long-Presse), "The 20 private banks have responded to the initiative of the Iraqi Central Bank and founder of the Glocal (LUGAL) for Iraqi reconstruction and rehabilitation of Rasheed Street and public squares in Baghdad," noting that " Naseer Shamma propose this idea during a ceremony to mark a century since the opening of the Al-Rashid Street, organized by the Central Bank. "

He Shomran, that "the 20 banks responded to the initiative in the hope of increasing the number soon," adding that "each bank of which will ensure the rehabilitation of one of the squares of the capital under a special mechanism be established by the bank to distribute them by lottery, in coordination with the secretariat of Baghdad to take into account the aesthetic and critical style reconstruction."

For his part, Executive Director of the Association of Banks of civil Ali Muwaffaq, said in an interview to the (long-Presse), "The initiative comes as part of Take Baghdad project, which will be launched during October now the month, with the support of the Central Bank and the Association of banks, to restore the aesthetic of the capital."

He said Muwaffaq, that "the project will start from Al-Rashid Street that a joint private banks provide for financing the rehabilitation part of it before moving on public squares," revealing "private banks agreement to continue the reconstruction of Baghdad and other areas in a phased manner."

He said Muwaffaq, that "banks will implement designs on squares according to the specifications to be developed by Makiya Group, a consultative body comprising the Iraqis the best architects in coordination with the secretariat of Baghdad."

The central bank announced on Wednesday (September 28 2016), more than 20 private banks to call included the reconstruction and rehabilitation of Rasheed Street response in addition to the 20 public square in Baghdad, returned to such initiatives give a positive impression and contribute to the deepening of the spirit of citizenship, in while he stressed the importance of social responsibility for the banking sector, he explained that work was underway on the launch of the project (Take a Baghdad) for the implementation of large projects that backs capital, as befits its status and depth of civilization.

[yota691]

The central bank announced a mechanism to distribute the reconstruction of Al-Rashid Street and squares on private banks projects

 

 

Economy News   Iraqi Central Bank announced on Saturday his intention special mechanism for the distribution of reconstruction projects and rehabilitation of Rasheed Street and public squares in Baghdad on private banks mode, and with the Association of Banks confirmed Iraqi Aacialh be so special designs will be prepared from an Iraqi advisory group in coordination with the secretariat of Baghdad, she noted that its members agreed to continue the reconstruction of other areas in the capital in stages.   The Director-General of the issuance of Closets in central bank Ihsan Shomran, in an interview to the (long-Presse), and I followed the economy News that "the 20 private banks have responded to the initiative of the Iraqi Central Bank and founder of the Glocal (LUGAL) for Iraqi reconstruction and rehabilitation of Rasheed Street and public squares in Baghdad," noting , that "the artist Naseer Shamma propose this idea during a ceremony to mark the century since it opened Rasheed Street, organized by the Central Bank."   He Shomran, that "the 20 banks responded to the initiative in the hope of increasing the number soon," adding that "each bank of which will ensure the rehabilitation of one of the squares of the capital under a special mechanism be established by the bank to distribute them by lottery, in coordination with the secretariat of Baghdad to take into account the aesthetic and critical style reconstruction."   For his part, Executive Director of the Association Almassarvalkhasy Iraqi Ali Tariq, said in an interview to the (long-Presse), "The initiative comes as part of Take Baghdad project, which will be launched during October now the month, with the support of the Central Bank and the Association of banks, to restore the aesthetic of the capital."   He said Tariq, that "the project will start from Al-Rashid Street that a joint private banks provide for financing the rehabilitation part of it before moving on public squares," revealing "private banks agreement to continue the reconstruction of Baghdad and other areas in a phased manner."   He said Tariq, that "banks will implement designs on squares according to the specifications to be developed by Makiya Group, a consultative body comprising the Iraqis the best architects in coordination with the secretariat of Baghdad."   The central bank announced on Wednesday (September 28 2016), for more than 20 private banks to call included the reconstruction and rehabilitation of Rasheed Street response in addition to the 20 public square in Baghdad, returned to such initiatives give a positive impression and contribute to the deepening of the spirit of citizenship, while he stressed the importance of social responsibility for the banking sector, he explained that work was underway on the launch of the project (Take a Baghdad) for the implementation of large projects that backs capital, as befits its status and depth of civilization.
Views 66   Date Added 10/01/2016 - 15:33   Last updated 01/10/2016 - 17:30   No. Content 5251

[DinarThug]

CNN. Broadcasting Today's Specialists Special !

 

Specialists are counting on the government and private banks in the reconstruction of infrastructure in Iraq

 

Number of specialists stressed that the government and private banks play an important role in moving the market and ages of the areas affected by the war with the terrorist organization Daesh through the granting of loans to citizens to start their own projects and the reconstruction of their homes and their shops damaged.

Iraqi banking system consists according to the website of the Central Bank of Iraq of 45 banks between the government and private foreign and deployed throughout the country.

He said banking expert Mohammed al-Rubaie's (Journal News), said that "banks can play an important role in the process of rebuilding the country from the military operations taking place in the west and north of the country through the granting of loans to the citizens," adding that "the central bank's decision to grant loans to industry, housing and agriculture sectors and will play a very important role to move the market, especially after the launch of its own website. "

He noted that "the Iraqi banking sector is good because it has suffered in the last periods of the siege and cut off from the world and this is what the impact on his work, but today's private banks are using modern technology and has continued with the foreign banks known," stressing that "the Iraqi banking sector suffered a campaign of unfair throughout the period years due to talk of some politicians and some distant figures from reality. "

On the other hand, an economist Salam Ismail told (Journal News), said that "the Iraqi banking sector has achieved some success in the recent period in the fight against money laundering and reduce the smuggling of currency now and can play an important role in the process of achieving the government's reforms," adding that the "to provide loans to the citizens and the benefits of realistic will reflect positively on the country's economy."

He pointed out that "private banks could launch loans for citizens to move the market and support the poor through small loans, especially to the poor ratio currently stands at 10 million people and this is very significant because of the circumstances that have passed on the country and the displacement of nearly four million from conflict zones."

And that "the Iraqi economy through the recession now where in 2014 he was signed by the first Sdmtin drop in oil prices and the second out of a large area of control, which is reflected in the increased spending, especially the military," stressing that "the country plays a big role.

On the other hand, executive director of the Association of private banks, Tariq Ali said, "The private banks met some time ago with the reconstruction of liberated areas of fund regulation Daesh and collected more than one billion dinars to support the Fund and the establishment of the Conference for the reconstruction of liberated areas."

He stressed that "the auction of foreign currency window of a legal case legislated Iraqi law, the central bank and watched and can any bank to enter into force by offering securities to the central bank, and more criticism of the participating banks is not unfounded and lacks the documents, and that calls for a reduction foreign currency sold in the window needs to ease imports because the country imports very formidable and we saw that when the central bank cut its sales daily in the window to $ 75 million reflected negatively on the market where the dollar rose about 25%. "

He noted that "the abolition of dollar selling window is illogical and untrue and would cause a huge rise in the dollar, because the central bank's goal of this procedure to provide the dinar to the Ministry of Finance, which received oil money in the currency of the dollar and the significant financial obligations in dinars, including staff salaries and the state's needs saving, but it was the implementation of the letters of credit instead of selling the currency to take quite a bit especially as it will protect the hard currency and will make the country's intervention with real goods. "

The governor of the Iraqi Central Bank, on the Keywords, confirmed that several factors affected the banking sector, including the security and political situation, he said, adding that some foreign banks refused to deal with Iraqi banks, pointing out that 77% of the money supply located outside the banking system.

Keywords and said, "There are external factors that have affected the financial and banking sector of Iraq, including people's awareness of security and political stability and the irresponsible statements of some officials and experts, the money that has made some foreign banks not to deal with Iraqi banks," pointing out that "five Iraqi banks have problems with customers and the central bank is trying hard to solve, and in a matter of months the banks that are unable to continue to come out of the banking business. "

And that "there is a rebellion by some banks customers to repay their loans to banks, and this phenomenon is very serious and must be addressed by all means," noting that "the payments system in the Central Bank is one of the best systems in the world are currently being reviewed to him by the World Bank."

He noted that "77% of the money supply in the possession of citizens in their homes, that is, outside the banking system, which shows that the percentage of beneficiaries of the banking system amounting to 10% of Iraq's population," pointing out that "large cluster of cash held by citizens has to be entered to the banking system in order to expand the work of banks and operates the workforce and increase services ".anthy

http://journaliraq.com/myapp-1446/

 

[bkeiller]

"The governor of the Iraqi Central Bank, on the Keywords, confirmed that several factors affected the banking sector, including the security and political situation, he said, adding that some foreign banks refused to deal with Iraqi banks, pointing out that 77% of the money supply located outside the banking system."

... they need to start buying that supply back from us at an inflated price!?

[Wiljor]

Much appreciated Thugs, I like this article as it points out pretty much all that has been taken care of except for one point that caught my eye was the last paragraph;

He noted that "77% of the money supply in the possession of citizens in their homes, that is, outside the banking system, which shows that the percentage of beneficiaries of the banking system amounting to 10% of Iraq's population," pointing out that "large cluster of cash held by citizens has to be entered to the banking system in order to expand the work of banks and operates the workforce and increase services ".anthy

The people still lack confidence in the banking system but shortly e banking will take care of this as Iraq moves to the new economic and banking policy. Payments of salaries and transactions will be done electronically and shortly a more cashless format will emerge. 

Iraqis need to move the "chunky cash" from under their mattresses and get it into the system so as confidence can gain speed and an impact on the economy begin to take place. 

All is looking good DV, things are progressing with more urgency as time is NOT on their side anymore, the WB and IMF along with the international community are getting anxious to get things rolling smoothly and Abadi seems to be on board.  

[junnito]

This is easy, RV and they can have all of my chunky cash back in circulation.

Go RV 1+ 

[Laid Back]

He noted that "77% of the money supply in the possession of citizens in their homes, that is, outside the banking system, which shows that the percentage of beneficiaries of the banking system amounting to 10% of Iraq's population," pointing out that "large cluster of cash held by citizens has to be entered to the banking system in order to expand the work of banks and operates the workforce and increase services ".anthy

 

Iraq Money Supply M2  2003-2016 | Data | Chart | 

Money Supply M2 in Iraq decreased to 86692 IQD Billion in June from 87316 IQD Billion in May of 2016. Money Supply M2 in Iraq averaged 48477.38 IQD Billion from 2003 until 2016, reaching an all time high of 90728 IQD Billion in December of 2014 and a record low of 6953 IQD Billion in December of 2003. Money Supply M2 in Iraq is reported by the Central Bank of Iraq.... Data from trading economics

Money supply M2 86692 IQD Billion

77% in possession of citizens in their homes 

77% of 86692 = 66752 IQD Billion in Chunky Cash

This is a big chunk of the money supply

I believe people holding the chunky cash is waiting for an increase of the dinar exchange rate. Like us

Go CBI

Go Dinar

Go RV

 

 

 

 

[sandfly]

I think so lb