Keywords: central bank contributed to the over run put " at risk" in Iraq

[yota691]

Banking Forum emphasizes the importance of communication between the Iraqi and Lebanese banks policy

 

 

Economy News / special         Began Wednesday morning, the work of the third session of the Forum for Iraq banking with the participation of Governor of the Central Bank of Iraq on the Keywords and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon, the Hall Vanessa Hotel in Beirut . It seeks Forum, which 54 banks and 14 companies involving financial services and 15 company Informatics and 26 companies patron to discuss future prospects of the banking activity in Iraq are also held on the sidelines of meetings Tnayah among Lebanese banks operating in Iraq and the Governor of the Central Bank of Iraq on the Keywords to discuss the prospects of cooperation. And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group Roauf Abu Zaki and president of Banks in Lebanon Association Joseph Tarabay stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern banking and insurance the safety of the banking business in both countries. The words focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering. The President of the Association of Iraqi private banks and depositary Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon. To Ahtzanh this forum, noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing that the banking sector managed in spite of all these circumstances, to overcome obstacles and counter threats compliance and money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks. Handal and touched on the plans and projects of Iraqi private banks association in the field of rehabilitation of human resources, noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year, 2017. He noted the association's quest to implement the Central Bank of Iraq, a plan and a commitment to standards issued in the area of compliance and paying special attention to lending in the light of this purpose, the Central Bank's initiative to allocate $ 6 billion to support small and medium-sized enterprises and revitalizing the Iraqi economic sector  He expressed hope that the settlement of employees' salaries in private banks, similar to the Iraqi Central Bank.
Views 6   Date Added 11/01/2017 - 13:01   Last updated 01/11/2017 - 12:04   No. Content 6424

[presence]

Good morning Yota, and thanks again for posting several exciting articles this morning! To be honest, I only scanned the headlines thus far this morning, but I plan to read the details shortly. I like seeing many the recent references to banking practices mentioned that refer to manner in which Iraq will be acting with other nearby countries, which to me equates to international banking and a new rate! Pretty soon we will see Iraq following GAAP (generalized accepted accounting principles) which will strengthen their international status  -and currency- even more by making international auditing firms very happy!

I also like to see the words 'Maliki' and 'angry' in an article caption posted this morning, which tells me that the end of his corruption (and possibly life) via financial control and manipulation over the Iraqi citizens is also near. As so many bright members of this site have pointed out, Maliki was never going to encourage any forward momentum in Iraq, as it that would provide others with economic and other forms of freedom. One article I recall reading a few years ago was one that estimated Maliki's wealth. and it referred to the fact that Maliki had just acquired the title of majority shareholder for Motorola Wirleless in his region. I have a feeling that the forensic accounting being done behind the scenes is going to disclose a lot more of his corruption and that his financial theft from the Iraqi citizens is close to being disclosed in detail and redistributed to its rightful owners. I, like many others, have thought that Iraq would need to get a hold of as much stolen Dinar as possible prior to a rate-change, but I never expected the international support, technically speaking, to come as quick as it did. The imminent global change in status of the Dinar is going to allow those in Iraq in charge of investigating where the stolen funds have gone a lot more ease in getting it.

 GO RV!!!

[presence]

I attempted to correct the grammatical errors in the above post, but was unsuccessful. Sorry for any strain the text may cause others who read it.  

[yota691]

Banking Forum stresses the biggest pay attention to the safety of remittances and the fight against money laundering It held the work of the third session of the Forum for Iraq 's banking system , on Wednesday, with the participation of Governor of the Central Bank of Iraq on the Keywords, and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon. The forum , which seeks 54 banks and 14 involving financial services company and 15 IT companies and 26 corporate sponsor, to discuss future prospects of the banking activity in Iraq. And initiated the opening session of the forum the words of the CEO of Wal ­ Aamal Group Raouf Abu Zaki, the head of Banks in Lebanon Association Joseph Tarabay, stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern activity banking and ensure the safety of the banking business in both countries  also focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering. The President of the Iraqi private banks association Wadih Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon to embrace this event , noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing thatthe banking sector managed in spite of all these circumstances , to overcome obstacles and counter threats compliance, money laundering and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks. Turning Handal, plans and projects to the Iraqi private banks association in the field of rehabilitation of human resources , noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year , 2017.

[yota691]

Association of Banks signed a memorandum of understanding with KPMG Consulting and Audit Wednesday 11 January 2017 | 14:57 Signed Iraqi private banks association on the sidelines of the Iraqi banking forum held in Beirut on Wednesday a memorandum of understanding with Qawasmi & Co. KPMG Global, relating to the areas of training and exchange of banking experience. The memorandum signed by the Executive Director of the Association Tariq Ali, while it was signed for Jordan Company Hatem al ­ Qawasmi, the Exchange of experience in training and professional and institutional fields and programs , including helping to raise the level of professional performance to employees of banks and other financial institutions. The memorandum stipulates the establishment of workshops and training courses that cover all areas of banking, and to hold regular meetings between the two sides to discuss the stages of implementation and the development of bilateral cooperation.

[ggdog60]

Thanks, Yota!

[yota691]

Keywords: central bank contributed to the over run put " at risk" in Iraq

 

     

 

 7 hours ago

 

 

Twilight News Governor of the Central Bank on the Keywords / said on Wednesday that the bank played a "significant" role and "distinctive" in overcoming the financial situation, which he described the threat as a result of lower oil prices and the increasing costs of the war against Daesh.

Keywords interview came on the sidelines of the Iraqi banking forum held in Beirut, according to a statement of the bank responded to the Twilight News.

Keywords and said during his speech at the forum that "there is a high degree of confidence between Iraq and Lebanon as financial depth was born to translate the work of Lebanese banks work in Iraq despite the environment experienced by Iraq."

He said the bank's governor that "2016 was the most difficult because of what he fronted the country of security and economic conflicts and overcome them victories achieved on the terrorist gangs Daesh so we look forward to 2017 for the promise of victory to crush this organization Alarahpa poof This page dark."

He pointed to the bank's governor said "the coming days, invites us to be optimistic because of the improved economic conditions and financial indicators after the rise in oil sales prices and reduce the fiscal deficit, not to mention determination and rallying friends of Iraq from countries around the world to help in the construction of the liberated areas."

Keywords noted that "during the difficult events that prevailed in Iraq during the 2016 play's central bank a key role in the restoration of the financial situation that was dangerous because of Iraq's dependence on oil and the continuation of necessary expenses for the salaries of staff and military expenditures and displaced people, through the treasury transfers up to 20 trillion dinars."

And the central bank's position on the private banking sector drew the bank's governor said "the current phase is witnessing steps to strengthen trust between him and the banks through direct contact between the government and other institutions to shore up confidence in my work."

He continued by saying, "In this context, the Bank's work to increase the ceiling of credits and allow for the banking sector to participate in the resettlement of salaries for staff and convince the government to distribute salaries to the staff."

And between the central bank has taken a number of regulatory actions and the application of electronic programs and the application of strict rules on compliance with the rules of Anti-Money Laundering Act and the financing of terrorism has received international acclaim and led to get Iraq out of the gray area which enhances the confidence of financial transactions Iraq.

 

[yota691]

Keywords: We played a role to cross the financial distress and there is a high degree of trust between Iraq and Lebanon

 

 

Economy News / Baghdad ...       The governor of the central bank on the Keywords, on Wednesday that the bank played a "significant" role in Iraq from crossing the financial Dhaigueth, as pointed out that the Central seeks to restore confidence between him and the private banks.   Keywords and said in a speech during a banking forum Iraqi held in Beirut, according to a statement his office had received "Economy News," a copy of it, that "there is a high degree of trust between Iraq and Lebanon are born financially deeper translated the work of Lebanese banks work in Iraq despite the environment experienced by Iraq ".   "The year 2016 was the most difficult because of what he fronted the country of security and economic conflicts and overcome them victories achieved on Daesh terrorist gangs, so we look forward to 2017 for the promise of victory to crush this terrorist organization and turn this dark page".   Keywords and pointed out that "the coming days because the calls us optimistic due to improved economic conditions and financial indicators after the rise in oil sales prices and the reduction of the fiscal deficit, not to mention determination and rallying friends of Iraq from countries around the world to help in the construction of the liberated areas."   He pointed out that "during the difficult events that prevailed in Iraq during the 2016 Central Bank played a key role in the restoration of the financial situation that was dangerous because of Iraq's dependence on oil and the continuation of necessary expenses for the salaries of staff and military expenditures and displaced people, through the treasury transfers up to 20 trillion dinars."   And the central bank's position on the private banking sector between Keywords that "the current phase is witnessing steps to strengthen him confidence between banks through direct contact between the government and other institutions to shore up confidence in my work and in this context, the Bank increased the ceiling for credits and allow for the banking sector to participate in the resettlement of salaries to employees and to convince government distribution of salaries to employees. "   He continued that "the central bank has taken a number of regulatory actions and the application of electronic programs and the application of strict rules on compliance with the rules of the Anti-Money Laundering and the Financing of Terrorism Act has received international acclaim and led to the ousting Iraq from the gray area which enhances the confidence of financial transactions Iraq."       mm
Views 176   Added 11/01/2017 - 21:30   Last updated 01/12/2017 - 01:48   No. Content 6429

[yota691]

Association of Banks signed a memorandum of understanding with KPMG International Consulting and Audit

 

 

Economy News / Baghdad ...       Signed Iraqi private banks association on Wednesday a memorandum of understanding with KPMG International, in order to exchange banking experience.    The Association of private banks in a press statement received "Economy News" that "on the sidelines of the banking forum Iraqi held in Beirut on Wednesday signed the Association of Banks memorandum of understanding with the company (KPMG International) relating to the areas of training and exchange of banking experience," indicating "such as the Association of private banks through Signature CEO Tariq Ali ceremony while like KPMG international Inc. Hatem Qawasmi. "      She added that "the MoU include exchange of experience in training and professional and institutional fields and programs, including helping to raise the professional level of performance to employees of banks and other financial institutions."     She explained that "the memorandum provided for the establishment of workshops and training courses in all areas of banking," noting that "the training courses will be held in the capital Baghdad and the varied topics on international accounting and financial accounting, internal audit, risk management and compliance standards."    And Achtmt Association statement saying, "The memorandum of understanding provides for regular meetings between the two sides to discuss the stages of implementation and the development of bilateral cooperation."       mm
Views 346   Added 11/01/2017 - 13:54   Last updated 01/12/2017 - 02:06   No. Content 6427

[yota691]

Banking Forum stresses the biggest pay attention to the safety of remittances and the fight against money laundering

 

 

Economy News / Beirut Ghassan judge ...       It began the work of the third session of the Forum for Iraq's banking system, on Wednesday, with the participation of Governor of the Central Bank of Iraq on the Keywords and head of the Iraqi private banks association Wadih Handal, along with 350 other senior officials in the Iraqi and Lebanese banking sector and corporate finance, financial services and informatics in Iraq and Lebanon. It seeks Forum, which 54 banks and 14 companies involving financial services and 15 company Informatics and 26 companies patron to discuss future prospects of the banking activity in Iraq are also held on the sidelines of meetings Tnayah among Lebanese banks operating in Iraq and the Governor of the Central Bank of Iraq on the Keywords to discuss the prospects of cooperation. And initiated the opening session of the forum the words of the CEO of Wal-Aamal Group Raouf Abu Zaki and president of Banks in Lebanon Association Joseph Tarabay stressed the importance of coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq and the strengthening of experience banking operations in the two countries and the use of technical means in modern banking and insurance the safety of the banking business in both countries  Tags also focused on the importance of communication between the Iraqi and Lebanese banks and strict adherence to the instructions and directives of the Central Bank of Iraq policy She emphasized the words on the importance of closing the ports of corruption and pay most attention to the safety of remittances and the fight against money laundering. The President of the Association of Iraqi private banks and depositary Handal speech at the opening session of the Mmmeltqy across the outset appreciation for Lebanon. To Ahtzanh this forum, noting developments in the Iraqi banking sector and the challenges faced by referring to the impact of the financial crisis and economic recession in Iraq and the region and the war on terrorism on the banking business and the economic situation in Iraq in general, stressing that the banking sector managed in spite of all these circumstances, to overcome obstacles and counter threats compliance and money laundering, and the application of the rules to ensure that Iraqi banks reputation in its relations with correspondent banks. Handal and touched on the plans and projects of Iraqi private banks association in the field of rehabilitation of human resources, noting organized training courses for 200 employees of banks over the past year and its quest to train another 400 this year, 2017. He sought Association for the implementation of the Central Bank of Iraq, a plan and a commitment to standards issued in the area of compliance and paying special attention to lending in the light of this purpose, the Central Bank's initiative to allocate $ 6 billion to support small enterprises, medium and revitalize Iraq's economic sector, and expressed hope that the settlement of employees' salaries in banks own, similar to the Iraqi Central Bank. He gave then Governor of the Central Bank of Iraq on the Keywords speech in which he expressed his thanks to the efforts of the Iraqi private banks association, he said that Iraq was able to overcome the 2016 major challenges that were difficult year during which he faced a crisis, financial, economic and large forces of terrorism represented Bdaash. He stressed that Iraq is on the verge of a new stage carrying the promise of hope and goodness through. The elimination of terrorism and the liberation of the country from its evils. He noted that the future holds indices to improve the economic situation by reducing the budget deficit and rising global oil prices and international support for Iraq in the face of terrorism, noting that Iraq will get between 15-18 billion dollars from the World Bank and the Fund in the coming years. He pointed out the role of the central bank in the face of the challenge resulting from the drop in oil prices by nearly 75 percent, referring to the challenges of the expenditures and military displaced alluding to provide the Central Bank of 20 trillion Iraqi dinars to boost liquidity and securing the budget requirements, also touched on the conservative to the strategy of the central bank in rallying forces functional and built infrastructure through the creation of a wide launch of electronic payment and the granting of companies specializing in this area licenses for the exercise of its business base in Iraq and plans for the central bank to comply with prudential supervision and governance system.   For his part, he gave the Bank of Lebanon Governor Riad Salameh speech Ttaul aspects of cooperation between the banking sector in both Lebanon and Iraq, stressing the importance of compliance with international requirements and Alantmh concerning the involvement of banks and international banking Vidalaolmh through the use of modern technologies  Banking and accept experience in Lebanon and the future prospects of this important sector, stressing the importance of banking cooperation between the Arab countries.  He spoke during the forum secretary-general of the Bureau of Investigation Aalzvi Lebanon word in the opening session in which he talked about the challenges of compliance with global laws linked to the fight against money laundering and terrorism financing and tax evasion, and stressed the importance of transparency in the banking business and stay away for the privacy and automatic exchange of information between banks and set the international standards.  And then it held the first session of the forum under the Opportunities and Challenges / Troas and the meeting Prime Minister for Economic Affairs Dr. adviser to the Iraqi banking sector, the title of the appearance of Mohammed Saleh. He spoke during the meeting by Waleed Idi adviser to the central bank governor and Asadi mandated by the Director-General of the Rafidain Bank.       mm
Views 221   Added 11/01/2017 - 13:18   Last updated 01/12/2017 - 01:25   No. Content 6425

[ChuckFinley]

Thank you Yota for the updates. All the news is about international.  I wonder what that is about.  

[Lorre]

Hi Yota, This is from Forbes Middle East. Explains everything they are doing in the banking sector over there. I haven't figured out how to copy a link from my Windows 10 phone. Maybe you could post it? It is from yesterday. Thanks for all the great articles. If not I can come back and hand type it in.

http://www.forbesmiddleeast.com/en/news/read/2017/islamic-banking-challenge-to-maintain/articleid/11272

Islamic Banking: Challenge To Maintain Leading Growth In A Competitive Market

 Comment now  10-Jan-2017  By Darren Stubing  Visitors 345
 

 

Islamic banking continues to broaden its reach and is able to compete effectively with conventional banks, supported by an increasing range of products and higher quality ser­vice. Islamic banking assets in the GCC are now worth over $600 billion, and well over $1.1 trillion for the wider region.

 
In the past, Islamic banks were some way behind their conventional banking counterparts in terms of innovation, technology and service, which are not only important to defend market franchises but are crucial as a differentiator in a competitive market environment. But now many in the Gulf and the Middle East, which have performed well over the last few years, have become early investors in technology, targeting product and service innovation as a central theme of their strategy. Technology is changing rapidly in the bank­ing sector, and the intermediary link between institutions and customers has become less direct as other non-bank players enter the market.
 
Product innovation and the increasing use of mobile bank­ing and apps are helping Islamic banks in the region to widen their reach to customers, particularly those that were pre­viously un-banked or under-serviced. Technology and product innovation is removing the service and delivery distinction that was present in the past between Islamic and conventional banks. Increasing product launches for Islamic banks are providing customers with a wider range of financing solu­tions that were previously not avail­able, forcing some to turn to conven­tional banking when otherwise they would not. This is helping to support growth in the sector.
 
Islamic banks in the region are building their activities in key sectors of the economy. Retail banking has traditionally been the mainstay of Islamic banking in the region. Here, investment in digital and smartphone banking will be crucial in future. In the region, attitudes and expecta­tions have changed at a rapid speed due to a young popula­tion that is increasingly mobile and has greater access to media and technologies. According to EY, the boards of most of the important Islamic banks in the region have been generous in sanctioning spend on digital initiatives—between $15 million and $50 million over the next three years—well aware that in­action could cost up to 50% of their retail banking profit in the next few years.
 
Bahrain-based Gulf International Bank recently launched its retail banking arm in Saudi Arabia—‘meem’. Combining online and mobile banking with physical locations, meem ca­ters to the Kingdom’s increasingly sophisticated retail bank­ing segment. Meem has invested heavily in proprietary IT systems, including complex back-end systems, which increase efficiency and reduce the need to visit traditional branches.
 
Fast-growing Islamic banks, including Dubai Islamic Bank (DIB), Abu Dhabi Islamic Bank and Noor Bank have always emphasised the use of technology to drive growth and profit­ability. And these banks continue to perform well despite the recent tough operating environment due to low oil prices and weaker growth in the region.
 
Another major development for Islamic banks in the re­gion is the flurry of capital increases, with Islamic banks build­ing their capital and liquidity bases for Basel III purposes and to support future growth. DIB recently raised AED3.2 billion in a rights issue, oversubscribed by nearly three times.
 
Other recent issues are Sharjah Islamic Bank’s $500 mil­lion sukuk, Ajman Bank’s AED675 million rights issue, Qatar Islamic Bank’s QAR2 billion Basel III compliant Tier 1 per­petual Sukuk, and Qatar International Islamic Bank’s QAR1 billion sukuk.
 
In July 2016, Noor Bank celebrated the listing on the Nasdaq Dubai of its $500 million debut Perpetual Tier 1 capital sukuk. In August 2016, Emirates Islamic closed a $250 million tap of its earlier $750 million five-year Sukuk issued in May 2016. Emirates Islamic is enjoying fast rates of growth, aided by new products, including credit cards and a mobile banking app. It is also making strong strides in wholesale banking with its recent financing deal in partnership with Natixis, to close the largest collateralised Murabaha transaction this year.
 
Despite the sukuk issuance, observers believe the market would grow at a faster rate if it became more standardised. Sukuk issuance is currently more time consuming and com­plex than a conventional bond issue. The IMF has advised GCC governments to integrate sukuk issuance in their debt-manage­ment strategies. The Islamic Development Bank is also working on a new structure that could simplify sukuk issuance.
 
Regional Islamic banks are looking at opportunities in other markets, both to diversify their footprint and in recog­nition of limited growth potential in domestic markets. DIB aims to expand its geographic footprint through a variety of options including acquisitions, establishing new subsidiaries and branches, and pursuing strategic partnerships with local partners in Asia, Africa and the Gulf. The bank already has a 40% interest in Panin Bank Syriah in Indonesia and Kenya remains a country of interest.
 
ADIB’s international expansion began in Egypt with the acquisition via a joint venture structure of the National Bank of Development followed by the establishment of Iraq, U.K. and Saudi Arabia op­erations, and it will con­tinue with new operations in Qatar and Sudan. ADIB is in the process of apply­ing for banking licenses in a range of other countries.
 
The bank is accelerating the development of digital prod­ucts and services for customers to enhance their banking experience. Those include mobile-banking iOS applications that allow a more dynamic customer experience and client relationship management tools from iPads. ADIB has wit­nessed a rapid growth in customers using digital channels, especially through mobile devices. Users of ADIB’s digital banking channels more than doubled in the last 12 months while smartphone transactions increased by 73% in the first half of 2016. The bank also launched a new version of its internet banking platform to create a more convenient cus­tomer experience.
 
Bahrain-based Al Baraka Banking Group is one of the most geographically diversified Islamic banks. It has a presence in Turkey, Jordan, Egypt, Algeria, Tunisia, Sudan, Pakistan, South Africa, Lebanon, Syria, Iraq, Saudi Arabia, Libya, and Indonesia as well as in Bahrain. It has recently won official approval to es­tablish a banking unit in Morocco, and is working to complete the establishment pro­cedures.
 
For Islamic bank­ing, the opening up of Iran is a huge devel­opment. Iranian banks make up the world’s largest financial system based on Islamic law; Iran’s Islamic banking assets total around $500 billion. Despite the size of their assets, most of the Iranian state-owned banks are loss-making entities due to a large stock of non-performing loans.
 
A large number of sukuk and other Islamic financ­ing issuance from Iran are expected over the next few years. Estimations are that there are over 150 Iranian companies con­sidering Islamic sukuk sales. Iran also requires funds for its infrastructure development programmes estimated at around $1 trillion over the next decade.
 
Industry projections for Islamic banking are generally positive, driven by the significant unmet demand despite the prevailing macroeconomic and political challenges across the region. Credit expansion in the region has been impacted by the low oil price but Islamic financing has continued to grow. Key public sector corporates and real estate private developers have considerable appetite for Islamic financ­ing both at bank and capital market levels. Retail banking will continue to expand aided by technology developments and

 

 

 

 

 

 

 

Edited January 12, 2017 by Lorre

[Lorre]

Nevermind. I got it...  Sorry, user error....

Thank you

[yota691]

5 minutes ago, Lorre said:

Nevermind. I got it...  Sorry, user error....

Thank you

Thanks Lorre...

[Lorre]

You're welcome

[Bama Girl]

IMO, the sooner the CBI can guarantee the safety of the funds in the banks, the sooner we will see our money. 

[NoviceInvestor]

1 hour ago, Bama Girl said:

IMO, the sooner the CBI can guarantee the safety of the funds in the banks, the sooner we will see our money. 

 

that's not going to happen overnight... I'm just hoping it will be before the end of April 2017.. 

[Bama Girl]

10 minutes ago, NoviceInvestor said:

that's not going to happen overnight... I'm just hoping it will be before the end of April 2017.. 

As do I NoviceInvestor. We are closer than we have ever been but we all have to stay grounded. The CBI is going to pull the trigger on their timeline, not ours. Darn it 😒😊

[NoviceInvestor]

21 minutes ago, Bama Girl said:

As do I NoviceInvestor. We are closer than we have ever been but we all have to stay grounded. The CBI is going to pull the trigger on their timeline, not ours. Darn it 😒😊

True Bama Girl.. It's the 6 forward ten back paces that makes one impatient.. This lady here wants to retire but I know we are as we have always been dealing with powers that are control not only iraq's but global money issues and we must wait.. 

[sandfly]

Thanks 

[yota691]

Banking Forum Iraq resumes its second day in Beirut

 

 

Economy News / Beirut Ghassan judge ...       Iraq resumed Forum banking on its third session in Beirut, on Thursday morning, holding a fourth session in the presence of the governor of the Iraqi Central Bank on the Keywords and the participation of a large number of leaders of this sector.   And it began the meeting which was devoted to the subject of electronic banking and the requirements of the development of the technical environment of the banking general manager of Payments Central Bank sacrificed Abdul Karim, which focused on the issue of resettlement of state employees' salaries in banks as of this year's march to the central bank put several controls should be available in the banks that wish in the application of this system also announced the formation of a committee to evaluate the experience. She also spoke of the iPad starting the implementation of the system in line with the global banking system requirements in this area. And occur in Session IV Chief Information Officer of the Iraqi Central Bank on the subject of compliance with international standards and the use of special programs in this area, and called for an audit of AT operations and access to global consulting to implementation. He stressed the importance of building infrastructure technology in the Iraqi banks to develop themselves and keep abreast of developments witnessed by the world in these areas.   For his part, he touched director of Visa in Lebanon and Iraq symbolic Sabboury to the developments witnessed by the world in the use of technology nigeriawap in banking operations, noting that about two-thirds of the world's population are now using mobile than Usher importance of the use of this device in the electronic payment operations in the conduct and facilitate the daily basic needs. And he introduced simplified explanation of the Visa system and its applications in the electronic payment operations in the banks through mobile. Speaking after the Deputy Director General of the Bank (CSC) Lebanese from the use of smart card technology in banking operations. He noted that the future of the payment will be via mobile, and not through the card Banking calling on banks to have this experience, which he said would take over payments in the near future in the world. He was at the end of Session IV of the forum general discussion of the themes that were displayed and how to implement development projects in the technical side of Iraqi banks and the risks that could result in it.     mm
Views 14   Date Added 12/01/2017 - 12:05   Last updated 12/01/2017 - 11:38   No. Content 6436

[yota691]

 

Private banks signed a memorandum of understanding with an international company for the exchange of banking experience

 

Author: AHF 
Editor: AHF 
01/11/2017 18:39 
Number of Views: 1376

 

 

Long-Presse / Baghdad

Signed Iraqi private banks association, said on Wednesday a memorandum of understanding with an international company, relating to the areas of training and exchange of banking experience, as demonstrated that the memorandum will help to raise the level of professional performance to employees of banks and other financial institutions, emphasized the establishment of workshops, training courses covering all areas of banking workshops.

The association said in a statement received (range Press), a copy of "Association signed on Wednesday, on the sidelines of the banking forum Iraqi held in Beirut on a memorandum of understanding with Qawasmi & Co. (KPMG) global, related to the areas of training and exchange of banking experience."

Association added that "the memorandum signed by the Association Executive Director Ali Tariq, while it was signed for Jordan Company Hatem al-Qawasmi, and provides for the exchange of experience in training and professional and institutional fields and programs, including helping to raise the professional level of performance to employees of banks and other financial institutions.

The memorandum stipulates the "establishment of workshops and training courses covering all areas of banking, as provided for regular meetings between the two sides to discuss the stages of implementation and the development of bilateral cooperation."

[yota691]

01/12/2017 (00:01 pm)   -   the number of readings: 152   -   the number (3824)

 

 

Central: we have 20 trillion dinars to help the government cope with the financial crisis

 Baghdad / term 
 

The Central Bank, yesterday, his contribution to alleviate the repercussions of the financial crisis in the country by 75%, confirming that he had submitted to the government 20 trillion dinars to secure the financial budget requirements. 
The governor of the central bank on the Keywords, in a speech during the Iraq Banking Forum held in the Lebanese capital Beirut and followed its proceedings (range), " The Central Bank has provided 20 trillion dinars , the Iraqi government to boost liquidity and securing the budget requirements." 


Keywords and added that "Iraq was able to overcome the great challenges during the year 2016 because it was a difficult year due to the financial crisis , " adding that " the central bank contributed to the reduction of the financial crisis on Iraq by 75%." 
And saw the Governor of the Central Bank of Iraq that " the future holds pointers to improve the economic situation by reducing the budget deficit and rising oil prices worldwide and the international support for Iraq , " he expected that "Iraq will receive between 15-18 billion dollars from the World Bank and the International Monetary Fund in the coming years ". 
Keywords and noted that " the strategy of the central bank related to the development of infrastructure and the creation of the start of a broad base of electronic payments." 
And it began the third session of the Forum with the participation of Iraq 's banking Governor of the Central Bank of Iraq on the Keywords in cooperation with the Iraqi private banks association, along with 350 other senior officials in the Iraqi and Lebanese banking sector and companies money , financial services and information technology in Iraq and Lebanon. 
On the other hand, he stressed the depositary Handal, president of Association of private banks, that " the Iraqi banking sector affected by the financial crisis and economic recession , however overcome obstacles prey to the risk of compliance and money laundering , " noting that " the banking sector is keen to develop relations with correspondent banks" .ofatt Bitter melon that " the Association of banks seek to implement the central bank 's plan in the field of lending to citizens in the light of the 6 billion initiative for this purpose in order to support small and medium enterprises and revitalizing the Iraqi economic sector." 
He stressed the need to "do government agencies to pay employees ' salaries through private banks like Central Bank." 
Turn Joseph Tarabay, Chairman of Banks in Lebanon Association said, "We have to increase coordination and cooperation between Iraq and Lebanon in the field of banking activity and contribute to sustainable development in Iraq , " stressing the need to "strengthen the banking experience in both countries and the use of modern technical means in the banking activity and ensure the safety of the banking business in both countries. "  
For his part, Riad Salameh, the governor of the Bank of Lebanon, "long sought the Bank of Lebanon to establish better relations with the Arab central banks, particularly the Central Bank of Iraq, because of this relationship is important for the exchange of banking technologies that enable the convergence of Qtaina bankers. But this convergence positive impact on the economy in both countries. "

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20 trillion is 20 billion usd

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Central Bank Governor: We seek to restore confidence in private banks

01/12/2017

 

(Independent) .. Central Bank Governor Ali Mohsen Keywords Ismail said that the Bank has played a significant and distinct role in the transit of Iraq from the financial Dhaigueth between the central bank seeks to restore confidence to the private banks

He said on the sidelines of the banking Keywords Iraqi Forum held in Beirut there is a high degree of confidence between Iraq and Lebanon as financial depth was born to translate the work of Lebanese banks work in Iraq despite the environment experienced by Iraq.

He added that the year 2016 was the most difficult because of what he fronted the country of security and economic conflicts and overcome them victories achieved on the terrorist gangs so Daesh "We look forward to the year 2017 for the promise of victory to crush this organization Alarahpa poof This page dark."

He pointed out that the coming days invite us to be optimistic because of the improved economic conditions and financial indicators after the rise in oil sales prices and reduce the fiscal deficit, not to mention determination and rallying friends of Iraq from countries around the world to help in the construction of the liberated areas.

Bank governor noted that during the difficult events that prevailed in Iraq during the 2016 play's central bank a key role in the restoration of the financial situation that was dangerous because of Iraq's dependence on oil and the continuation of necessary expenses for the salaries of staff and military expenditures and displaced people, through the treasury transfers up to 20 trillion dinars.

And the central bank's position on the private banking sector pointed out that the current phase is witnessing steps to strengthen him confidence between banks through direct contact between the government and other institutions to shore up confidence in my work and in this context, the Bank increased the ceiling for credits and allow for the banking sector to participate in the resettlement of salaries for staff and convince the government distributing salaries to employees.

Keywords explained that the central bank has taken a number of regulatory actions and the application of electronic programs and the application of strict rules on compliance with the rules of Anti-Money Laundering Act and the financing of terrorism has received international acclaim and led to get Iraq out of the gray area which enhances the confidence of financial transactions Iraq.