Parliament plans to enact a law to guarantee bank deposits

[nannab]

The perfect plan Laid Back.

[sandfly]

THANKS

[yota691]

Guarantee deposits and compactness

 

 

Author: Yasser incumbent 6/15/2016 0:00 Experts in money to find that the guarantee deposits could money chunky contain the citizenry and deposited in banks little incentive to play a developmental role.  Now that the Cabinet approved the draft deposit guarantee system adopted by the central bank in a move it to encourage savings.  Under this system will be concluded to set up a company to guarantee deposits which have long called her money experts and economists to restore confidence in banks by the public to encourage them to save their savings where instead of Aktnazha at home.  it should be noted that the money chunky estimates of 30 trillion dinars and that the money could have developmental renaissance occur if invested properly and may skip Alazmhalta afflicting the country.  step successful offer by the central bank, but I find that the requirements to make it work , including work to enact a law to guarantee deposits available not later system as required by the Association of banks prepare an awareness program of the importance of Alachar content corresponds to the same banks and the introduction of incentives to help attracting deposits competitive initiatives.  in order to Althaghbalmassarv own returned again on the central direct system of classification of the good banks and evaluated with full transparency to help citizens in the successful ones choosing to put his savings guaranteed by the central evaluation.finally , should the Association of banks hold a questionnaire quarterly extent of alopecia increase in deposits percentages so they can be study the effect of this system and work to develop it into law in cooperation with the central bank to expand the circle of confidence in banks and encourage customers to deposit have.

[yota691]

Add this the CBI Issuing the First Edition on how to International Banking!!! 

Iraqi private banks association received the Governor of the Central Bank of the first edition of the book (the legislation governing the work of private banks in Iraq)

 

 

 

[blueskyline]

Thank You Yota 

 

[nannab]

Yeah Yota!! Keep bringing them.  Dollars to donuts you beat the garbage

gurus on the big announcement,

[gregp]

This is great news! Good find!

[Freedomwish]

International banking... We just gotta be close! 

[yota691]

 

The adoption of the law will be prepared bank deposits confidence Iraqi banks

Central counting on the company, "guarantee" to compensate depositors of banks "losers"

 

Author: ASJ 
Editor: BK 15/07/2016 15:13 Number ofViews: 467 
 

 

Long-Presse / Baghdad

The Central Bank of Iraq, on Friday, the possibility of compensating depositors of citizens in banks, "losers" in case I worked, "Deposit Insurance" company, while attributing Bankers reluctance of private banks to "liquidity squeeze" as a result of contractors and importers were unable to pay the discharged her.

A member of the Board of Directors, Ahmed Rehn, said in an interview to the (long-Presse), "The Deposit Insurance Corporation, or what is meant by the unity of deposit guarantee, you need time, even working after gathering the necessary capital," adding that "the task of that unit are summarized to compensate depositors in the loss-making banks. "

He added Rehn, that "the company in the event of its work will participate in the compensation of depositors in the loss-making banks after a number of their own financial operations to be able to it," noting that "the Deposit Insurance Corporation will take care of a lot to small depositors will be paid all of their deposits, that are paying most of the deposits medium, but the subject of senior depositors requires other measures to compensate them. "

For his part, Managing Director of the Bank Union, Aqeel trouble maker, in an interview to the (long-Presse), "The private banks in general is facing the problem of lack of liquidity, because borrowers contractors, importers did not get their dues from the government is what made them slow to refund discharged banks" he said, adding that "some branches of the central bank did not refer to domestic banks and their deposits."

He pointed out trouble maker, that "it was born big problems to domestic banks with depositors In her work," she returned that "the government should private banks supported by dues contractors and suppliers Exchange to raise the proportion of liquidity in the domestic market and enable them to repay their debts and stroll banking activity."

In turn, the decision of the parliamentary finance committee, Ahmed Hama Rasheed, said in an interview to the (long-Presse), "The banks are required to give deposits to clients," noting that "some banks experiencing administrative problems that the Commission was forced to file a complaint thereon to the Ministry of Finance."

He stressed Rashid, that "private banks monitored by the CBI, which give him a monthly budget," pointing out that "the central bank may use its powers to suspend the operation of any bank acting his money out of contexts, and be liquidity has less of the deposit, and the declaration of bankruptcy."

He predicted the decision the parliamentary finance committee, that "depositors in failed banks crisis resolved when the work of the Deposit Insurance Corporation," stressing that there are "many experiences of this kind in the neighboring countries and the world."

Meanwhile, a member of the Iraqi National Business Council, Firat Habib, in an interview to the (long-Presse), "The problem facing temporary banks, because they suffer from the deposits of the crisis and the influx of liquidity, not losing for being," calling on the central bank to "tighten its supervision and follow-up especially the private banks and ensure liquidity continuously in order to avoid problems. "

Habib felt that "the deposit guarantee law firm will be strongly Banking Act of censorship hand and keep depositors' money and speed up the response to any problem faced and restore confidence quickly to it, especially since the administration officially sanctioned."

He said a member of the National Business Council, that "the banks are working on the recovery of private high to provide liquidity and address the imbalance of financial amounts loan funds and grants depositors amounts that request one at any time they wish," noting that "the central bank put some banks under his tutelage until they correct their work and ensure the rights of citizens. "

Habib stressed that "slough some banks from paying the full amount requested by the depositor under the pretext of lack of financial liquidity constitutes a violation of the laws and calls for the intervention of the Central Bank of Iraq," he returned to "Supervision Department and the banking of the Central Bank of Iraq is responsible for monitoring the safety of liquidity of financial markets and its flow and consider complaints and to accelerate the adoption of measures to verify due to non-payment of the banks and the amounts requested by the owner of the funds deposited in the custody of those banks and at any time he pleases. "

The Central Bank announced, in (the seventh of June 2016), for approval of the Cabinet set up a company to guarantee deposits in the government and private banks with a capital of 100 billion dinars, while the company aims to stimulate citizens to deposit their money in banks rather than Aktnazha, confirmed money chunky citizens outside banks of more than $ 30 trillion dinars.

The Iraqi private banks association, announced (October 2015) that the ratio of deposits to the government banks, ranging from 65 to 68 trillion dinars, of which no more than 22 trillion and deposits of private banks.

The banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between the seven state-owned and 23 private businesses, including Islamic nine in addition to the 15 branches of foreign banks.

[yota691]

 

The central bank plans to expand the application of electronic trading

Parliament plans to enact a law to guarantee bank deposits

 

Author: HH, MK 
Editor: BK, HH 
19.10.2016 10:21 
Number of Views: 451

 

Long-Presse / Baghdad

Finance Committee in the House of Representatives unveiled on Wednesday its intention to legislation of a special law to guarantee depositors' money in Iraqi banks, while confirming that it will contribute to "boost confidence in the banking sector."

Said Finance Committee member Jabbar al-Abadi, said in an interview to the (long-Presse), "The Committee was planning to prepare a draft law to guarantee bank deposits, but the government has agreed with the central bank to develop a system depends new styles to re certain percentage of depositors' money in the event of a loss banks ".

He said al-Abadi, a deputy from the coalition of state law, that "the government issued rules in agreement with the Central Bank of Iraq," adding that "the parliamentary finance committee working to enact a law to guarantee bank deposits to shore up confidence in the banking system."

The central bank announced in (the seventh of June 2016), for approval of the Cabinet set up a company to guarantee deposits in the government and private banks with a capital of 100 billion dinars, while the company aims to stimulate citizens to deposit their money in banks rather than Aktnazha, confirmed money chunky citizens outside banks of more than $ 30 trillion dinars.

It is noteworthy that the Iraqi private banks association, announced (October 2015) that the ratio of deposits to the government banks, ranging from 65 to 68 trillion dinars, of which no more than 22 trillion and deposits of private banks.

Many of the depositors of banks own, have demonstrated in front of the central bank recently for demanding their money regardless beyond many of those banks refrain, including investment, the Warka and the north, about it.   

The banking system in Iraq consists of 54 banks as well as the Central Bank and distributed according to property between the seven state-owned and 23 private businesses, including Islamic nine in addition to the 15 branches of foreign banks.

[yota691]

19/10/2016 (00:01 pm)   -   the number of readings: 286   -   thenumber (3761)

 

 

The government issued a system of deposit protection .. Parliament seeks to enacted law "enhance confidence" in the banking system

 Baghdad / Acer Jabbar-term 
 

Revealed in a parliamentary finance committee member, on Tuesday, the government issued a system guarantees the rights of depositors in banks , in agreement with the Central Bank, while noting it seeks to enact a law in this regard to strengthen confidence in the banking system, the financial advisor to the Prime Minister near the new legislation for financial management confirmed General to fill the gaps and deficiencies in the current law to be "clear and explicit" in front of the international financial community. 


he said Jabbar al - Abadi, said in an interview to the (long - Presse), " the Committee was planning to prepare a draft law to guarantee bank deposits, but the government has agreed with the central bank on develop a system depends new styles to re certain percentage of depositors ' money in the event of loss of the banks. "
the MP for the coalition of state law that" the government issued rules in agreement with the Central Bank ofIraq , "noting that" the parliamentary Finance Committee is working on legislation law to guarantee bank deposits to boost confidence the banking system. " 
for his part, said the appearance of Mohammed Saleh financial advisor to the Prime Minister Haider al - Abadi, near the legislation of a new law on public financial management to fill the gaps and shortcomings in the law currently in force, adding that the new project is characterized by governance and financial administration in Iraq to be" clear and explicit " in front of the international financial community. 
Saleh said in an interview for the "long", said that "the State Council studied the draft of the administration 's bill of public finances in preparation to be sent to parliament for discussion and approval soon after you make simple adjustments relating to paragraphs 22 and 24 , two special powers of the Minister of Finance , " asserting that "adoption of the law serves the interests of Iraq being gives leeway to rectify the imbalance in the financial management of the state." 
Saleh added that "financial management and public debt , No. 95 of 2004, currently in force was released in the US civil administrator Paul Bremer time, it was built on the General Accounting of law 1941, and suffers from many shortcomings , "adding that" the most important of these deficiencies is the governance of financial operations in terms of transparency and disclosure, participation and accountability, where the international financial community discovered that financial management applications in Iraq need to restructure. " Financial advisor to the Prime Minister said that " the law currently in force does not encourage the financial management of the development in Iraq , " pointing out that " the World Bank and the International Monetary Fund and the United Nations recommended some time ago the need to re - examine this law nearly kept pace with the administrative and financial international standards of sound." 
He said Saleh said that "public finances in Iraq are not trivial, because the economic activity of the government holds 67% of the GDP , " explaining that " a huge government financial operations and affect the lives of every citizen, what he needs to see and standards clear to achieve justice and financial required Balnho and governance." 
He stressed Saleh said that " the time has come to enact a new law for financial management, taking into account not intersects with national and international standards , " noting that the "most important features of the project financial management of the new Code, financial management governance in Iraq, especially that it needs to be clear and frank in front of the international financial community . " . it is 
noteworthy that Iraq suffers from a severe financial crisis due to the repercussions of the decline in world oil prices and the war against (Daesh), which forced him to resort to the global financial institutions to obtain soft loans, something that requires the reorganization of the economic situation and the management of financial and diversify its sources of income and stimulate the productive sectors. 
the central bank announced in ( the seventh of June 2016), for approval of the cabinet set up a company to guarantee deposits in the government and private banks with a capital of 100 billion dinars, while the company aims to stimulate citizens to deposit their money in banks rather than Aktnazha, confirmed the funds chunky citizens outside banks of more than $ 30 trillion dinars. It is 
noteworthy that the Iraqi private banks association, announced (October 2015) that the deposit rate among government banks range from 65 to 68 trillion dinars , of which no more than 22 trillion and deposits in banks own. 
many of the depositors of banks own, have demonstrated in front of the central bank recently for demanding irrespective of their money after many of those banks, including investment abstention, the Warka and the north, about it.    
it consists of the banking system in Iraq (54) banks as well as the Central Bank and distributed according to property between seven state - owned and 23 private businesses , including Islamic nine in addition to the 15 branches of foreign banks.

[Wiljor]

Good morning Yota, this is great news, guaranteeing bank deposits will build confidence in its citizens and will hopefully accelerate folks to get their "chunk cash" from under their mattresses and into the system. Not sure if, depending on the amount deposited, they could earn some 'chunky interest" on said deposits will enhance even further desire and trust in the banking system. Not sure about anywhere else but here if you deposit a million pesitos or more they pay you interest on that deposit, not much, but something.

Have a great day Master, and all of DV 

[four wheel drift]

Great news.

Will the people trust is the big question.

Government has a lot to prove to the people and with all the changes going on the people are still at the bottom.

Why will they believe, something has to show the people government is on their side.

Just waiting

FWD

GO RV

[Theseus]

Yoooo can dooo eet!

Git er dun!

Edited October 19, 2016 by Theseus

[TexasMike1958]

They have to stay in session long enough to enact the bill.  A few hours every 3 days isn't going to get a amday thing done.