New CBI Announcement 11/24/2016

[yota691]

 

News and announcements

 

 

Governor of the Central Bank of Iraq involved "acts of the Iraqi banking sector Forum " in Beirut

11/24/2016

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[yota691]

Governor of the Central Bank of Iraq involved "acts Forum Iraqi banking sector."
In Beirut
It began in Beirut morning Wednesdays corresponding to November 23 2016 "business forum
Iraqi banking sector, "the presence of the Governor of the Central Bank, Dr. Ali
Suspended General Secretary and Union of Arab Banks and Sam Fattouh and President of the Association
Iraqi private banks and depositary Handal and vice president of the Bank of Lebanon and a number of
Banking Iraqi leaders
He gave Governor of the Central Bank of Iraq, the word at the beginning of the forum "in which he reviewed
 The Bank's activities in promoting the work of private banks
Iraq, which has seen a significant expansion
Where their number surpassed 30 private banks as well as 15 branches of Arab banks
While the government and foreign banks remained unchanged without expansion. "
Noting that this expansion requires a lot of care and attention by the central bank
Maitalq Pthchinha especially in the face of problems
The governor pointed out the role of the Central Bank of Iraq in the face of financial crisis
In Iraq and the treatment of farmers and contractors dues.
The governor praised the efforts of the Secretary General Union of Arab Banks that Fatta
The presence of the Lebanese banks in Iraq was largely the focus of our respect and appreciation Allen
Lebanese banking sector has a long history and has faced big problems could
Overcome.
Noting that the Central Bank of Iraq appreciates the presence of the Lebanese banker who previously
Other countries were not present in the framework of the business, but only in Thafik
Psychological and social convergence between the two countries. "
Turning the governor of the Iraqi Central Bank to the Bank's role in the achievement of price stability
And the reduction of inflation and achieve the highest degree of financial stability as well as its role in the
The face of the financial crisis and the requirements of the war with the terrorist organization Daesh.
He also praised the role of the Central Bank in lending to small and medium enterprises to achieve
Economic growth, social declaring that he is now expanding this initiative, which he described
Do the job
The governor pointed to the open door of the government to deal with private banks through
Decision to allow private banks to distribute the salaries of government employees.
Turning to the Lebanese sovereignty banks problem with the Kurdistan region, noting Ptousel
The central bank initiative to the region with the cash to pay dues that are
Subsequent to the payment instruments.
The Governor emphasized that Iraq fighting a last stage of the confrontation with-terrorism
Expected to witness the next phase and stable recovery and economic growth in a large pan
Iraq.
He called on the governor of the Central Bank of private banks to promote their products and services
Provide to customers in order to attract customers and give them more confidence.

[yota691]

 

[yota691]

Forum Iraqi banking sector (to restore confidence and prevent money from banks withheld)

 

 

Economy News / Beirut special ..   It began this morning in Beirut businessman Forum Iraqi banking sector entitled / restore confidence and avoid withholding money from banks / In the presence of Central Bank Governor Dr. Ali Keywords and general secretary of the Union of Arab Banks and Sam Fattouh and head of the Iraqi private banks association Wadih Handal and vice president of the Bank of Lebanon and a number of Iraqi leaders Banking He gave Governor of the Central Bank of Iraq, the word at the beginning of the forum reviewed the bank's activities in promoting the work of the Iraqi private banks, which has seen a significant expansion as more units than the 30 private banks as well as 15 branches of Arab and foreign banks, while State-owned banks remained unchanged without expansion. Noting that this expansion requires a lot of care and attention by the central bank, especially Maitalq Pthchinha in the face of problems  Keywords and pointed to the role of the Central Bank of Iraq in the face of the financial crisis in Iraq and the treatment of farmers and contractors dues. Keywords praised the efforts of the Secretary General of the Union of Arab Banks, pointing out that the presence of the Lebanese banks in Iraq was largely the focus of our respect and appreciation, because the Lebanese banking sector has a long history and has faced big problems was able to overcome. "I appreciate this banking Elhoudoralbannana who previously Alakharyolm countries not present in the framework of the business, but only in Thafik psychological and social rapprochement between the two countries."  Turning the governor of the Iraqi Central Bank to the Bank's role in the achievement of price stability and the reduction of inflation and achieve the highest degree of financial stability as well as its role in the face of the financial crisis and the requirements of the war with the terrorist organization Daesh. He also praised the role of the Central Bank in lending to small and medium enterprises to achieve socio-economic growth, declaring that he is now considering expanding this initiative, which he described do the job  The governor pointed to the open door of the government to deal with private banks through the decision to allow private banks to distribute the salaries of government employees. Turning to the Lebanese banks with the problem of the Kurdistan region, noting the central bank to Ptousel initiative with the province for the payment of financial dues monetary instruments that are paid later.  The Governor emphasized that Iraq fighting a last stage of the confrontation with terrorism expected to witness the next phase stable and the recovery and growth of economically significant in the whole of Iraq.  He called on the governor of the Central Bank of private banks to promote their products and services offered to customers in order to attract customers and give them more confidence.   For his part, reviewed the secretary general of the Union of Arab Banks and Sam Fattouh in a speech at the beginning of the forum the Union's role in supporting the banking sector in the Arab countries through the exchange of information and experience particularly in the field of restoring trust banking work and the development of the banking industry. He stressed that Iraq is a rich country and there are rewards in large ambitions, calling for Iraqis to strengthen efforts to achieve sustainable development. He praised the efforts of the Iraqi private banks association and its president, Wadih Handal, stressing that the Union of Arab Banks is seeking to strengthen its role in Iraq because we are dealing with Arabs and Arab country. This examines the forum which will be held on the sidelines of the annual Arab banking conference for the 2016 cycle 21 causes a lack of confidence of the Iraqi banks and the experience of Lebanese banks in Iraq and the evolution of the banking industry in Iraq and the Arab region and the alternatives He spoke during the forum, Dr. Sadeq al-Shammari banking and financial expert in Islamic banking reviewing the beginnings of banks in Iraq since the founding of the Central Bank of Iraq in 1947, pointing out that Iraq first country in the region have witnessed in the banking sector and widespread in this area. Lebanese banks have also reviewed the experience in Iraq, particularly in the Kurdistan region of Iraq, pointing out that the fiscal policy in Iraq is advanced on monetary policy. He noted the experience of the Islamic private banks in Iraq by 19 Islamic banks are now in Iraq and stressed the importance of interpretation of Islamic banks instructions.  He praised the initiative of the Iraqi Central Bank to allocate $ 6 billion for the advancement of sectors  Agricultural and industrial pointing to the existence of problems in the issue of guarantees and mortgages.  And he stopped on the deposits in the system of government and private banks and credit extended and total assets in banks is a high Mainvi lack of confidence in Iraqi banks, calling on the central bank to follow a policy of mergers between banks instead of the policy of liquidation. He pointed out the role of the central bank through a window Currency, calling for diversification of banking services, not restricted to auction currency, stressing the importance of the role of Islamic banks in Iraq and that 19 banks offer different products to customers numbered.   It decisions Forum held second session this afternoon Atges during which the head of the Iraqi private banks association Wadih Handal and a number of executive officials in the Iraqi and Lebanese banks. The head of the Iraqi private banks association Wadih Handal to create awareness of banking in Iraq and achieve financial inclusion horizontally through the delivery of banking products and services to all cities and towns. Turning Handal during the Second Session of the Forum held in the Iraqi banking sector in Beirut today to the positive relationship between the Association and the Union of Arab Banks stressing the need to invest a memorandum of understanding between the two sides in the issue of banking compliance and transfer of successful experiences of banks to Iraq are particular Lebanese. Handal called for the expansion of government deposits in the Iraqi private banks, noting in particular the settlement of salaries of employees in these banks, noting that state revenue is still exclusively on government banks, pointing to the existence of initiatives in this area bode well.  He said the allocation of $ 6 billion initiative  To support the agricultural and industrial sectors, stressing the importance of providing uncertain repayment of loan guarantees through the localization of employees' salaries in the private banks. Turning to the issue of the launch of deposits of citizens in banks   Special Kurdistan Region of Iraq, stressing the need to pay special attention to this issue to shore up confidence in the banking sector  She spoke during the meeting, Director General of the President of the Board of Directors of the Rafidain Bank, d. Asadi mandated by the experience of the bank since its inception until now uncertain depositors need to strengthen the Iraqi banks in general confidence and take advantage of the experiences of banks to Arab and foreign countries.  For his part, the Iraqi banking expert Samir Abbas Nasiri talked about Iraq's dependence on oil, which is almost entirely around the country to yield neglected other development sectors of its economy due to a shift to a single-source economy. And accept the evolution of the Iraqi banking sector in the areas of deposits, capital and credit growth, monetary banking. He pointed out the reasons for failure of some of the private banks and the efforts of the Iraqi Central Bank to overcome the obstacles they face and Astavadajraouat filtering them through the adoption of the policy of integration rather than liquidation.    He noted that the Iraqi Central Bank and the private banking sector, they were working as a team now, after they worked Kfriqin inept in the past. The expert stressed Alnasiri the need to involve the private sector in Iraq, particularly Iraqi private banks association in shaping national economic policy through the activation of Economic Reform Act which provides for the establishment of Supreme Economic Council in Iraq. At the conclusion of the meeting, secretary general of the Union of Arab Banks Antoine Hbeich adviser spoke about the importance of the independence of the private banks in shaping policies to be able to compete also stressed the importance of opening opportunities for private banks, its potential and its own bold and work in banks as customers
Views 526   Added 11/23/2016 - 16:41   Last updated 24/11/2016 - 13:11   No. Content 5911

[sandfly]

Thanks 

[10 YEARS LATER]

Yeah Yeah . . . been listening to this for over a decade . . . your money still ain't worth squat, don't care how " RICH Iraq " is - - - You folks talk a thing to death, then roll it over, and start all over again  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!        

What are you afraid off; SUCCESS ?????  PULL THE TRIGGER !!!!!!!! 

 

[unirod]

When did the open door policy open up again for private banks? It was because of sectarian closed door policies that got Warka Bank in financial problems overnight 7 years ago. This news is great to hear!

 

[calkid11]

Thank you 

[Bama Girl]

10 hours ago, 10 YEARS LATER said:

Yeah Yeah . . . been listening to this for over a decade . . . your money still ain't worth squat, don't care how " RICH Iraq " is - - - You folks talk a thing to death, then roll it over, and start all over again  !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!        

What are you afraid off; SUCCESS ?????  PULL THE TRIGGER !!!!!!!! 

 

I totally understand your frustration but the reforms that have to happen for us to get our money only began when Abadi became PM. It is tough for all of us to discount the long 8 years that Maliki was in control as a total loss of time for us. Imho, of course. 

[WheresmyRV?]

I'm tired of hearing all the good talk, I want to see some action!!  Enough is enough

[pokerplayer]

Sorry but the only action these " boneheads " expedite is when to declare the next national holiday ! There starting to worry as they are running out of days in a year to call a " Holiday " 

pp

[10 YEARS LATER]

2 hours ago, Bama Girl said:

I totally understand your frustration but the reforms that have to happen for us to get our money only began when Abadi became PM. It is tough for all of us to discount the long 8 years that Maliki was in control as a total loss of time for us. Imho, of course. 

I heartily agree BG . . . I've been a might grumpy with these knuckleheads lately. Abadi has been brilliant since he took office - reckon I'm just impatient - 

[MyLadiesDaddy]

On 11/24/2016 at 4:15 AM, yota691 said:

 

Well he definitely knows about that. But again for all those who are maybe feeling a little down lately consider this. Why is the rest of the world listening to the Governor of the CBI about anything? I mean if Iraq was just some third world country overrun by ISIS and the Central Bank was only running a worthless currency then why are so many powerful people giving them any attention? Surely not just because of the oil. I mean the world can get oil from so many other countries with half of the challenges. But they are all listening to Iraq. And it's been my experience that the only thing that can garner that much attention is money, especially when its bankers. Iraq is about to do something AWESOME. 

[tigergorzow]

LGD, Excellent poibt and totally agree.

Keeping the faith!!

 

GO RV!!

[tigergorzow]

1 hour ago, tigergorzow said:

LGD, Excellent poibt and totally agree.

Keeping the faith!!

 

GO RV!!

Excellent point!!

[Laid Back]

23 hours ago, ladyGrace'sDaddy said:

Well he definitely knows about that. But again for all those who are maybe feeling a little down lately consider this. Why is the rest of the world listening to the Governor of the CBI about anything? I mean if Iraq was just some third world country overrun by ISIS and the Central Bank was only running a worthless currency then why are so many powerful people giving them any attention? Surely not just because of the oil. I mean the world can get oil from so many other countries with half of the challenges. But they are all listening to Iraq. And it's been my experience that the only thing that can garner that much attention is money, especially when its bankers. Iraq is about to do something AWESOME. 

You nailed it Brother LGD.

Follow the Bankers...... Follow the money

Go RV

Edited November 26, 2016 by Laid Back

[Kraidle]

On 11/25/2016 at 1:38 PM, ladyGrace'sDaddy said:

Well he definitely knows about that. But again for all those who are maybe feeling a little down lately consider this. Why is the rest of the world listening to the Governor of the CBI about anything? I mean if Iraq was just some third world country overrun by ISIS and the Central Bank was only running a worthless currency then why are so many powerful people giving them any attention? Surely not just because of the oil. I mean the world can get oil from so many other countries with half of the challenges. But they are all listening to Iraq. And it's been my experience that the only thing that can garner that much attention is money, especially when its bankers. Iraq is about to do something AWESOME. 

Money, oil, other resources, central hub to the rest of the Middle East. Iraq has a lot going for it, and investors do want to sink their teeth in there. But worthless funny money and a government with their track record is deterring all the good times they, and in turn we, could be having.

Their credit rating is better than Puerto Rico's, so there's hope somewhere in there. I just wish they would get on with it, so I can join the rest of you guys in the mainland.