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RACING: Private sector drive economic development and the government to launch its facilities


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Minister of Industry and Minerals Mohammed Shiaa Al Sudani «Internet»

  

 money and business


Economy News Baghdad:

Minister of Labor and Social Affairs Mohammed Shiaa al-Sudani announced on Thursday the launch of the three million dinars for the retired and insured workers.

Al-Sudani said in a statement read by "Economy News" that "the advance of three million dinars for workers retired and secured in cooperation with Rafidain Bank and the International Company for smart card (Key Card) and starting from Thursday 15/3/2018."

He added that "the number of retired workers covered by the advance is up to (17) thousand retirees," noting that "the number of insured workers covered by the advance is (250) thousand workers, the total number of retirees and workers covered by the advance of (267) thousand."

He pointed out that "the mechanism of obtaining the advance is by filling an electronic form prepared by Rafidain Bank and the retired worker gets the advance without the sponsor and the smart card and his salary," noting that "the workers secured on two types, the first salary is home through the smart card and get the advance from Without a sponsor and the guarantee of the smart card and the second is the one who receives his salary directly and does not have a smart card and gets the advance of the Fund Guarantee after the audit.

He explained that "the advance payment on (40) installments and the monthly installment (97500) dinars," stressing that "the total amount allocated to the advance up to (801) billion dinars."

He expressed his thanks to the management of Rafidain Bank and the International Smart Card Company for their cooperation in launching the project.

On the other hand, he said that "the ministry launched and since 2014 until the end of February 2018 more than (56) thousand loan," noting that "the disbursement of which actually about (43) thousand different types of lending programs provided by the ministry."

Al-Sudani said that "the value of the amounts spent amounted to (330) billion," explaining that "the total refunds and deposits until the end of February last (74) billion dinars out of the total (91) billion and a repayment rate of 81%."

He pointed out that "this is one of the successful activities carried out by the ministry," pointing out that "the ministry opened the introduction of soft loans and loans incubators business and the number of applicants for these loans more than (46) thousand and that the loans will be launched in the form of meals."

The minister called on citizens to "not obey the offenders and the weak-hearted people who delude them to complete the transactions of obtaining loans or coverage of social welfare benefits, as well as to not fall under the legal responsibility."


Views 427   Date Added 03/15/2018

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"Raising zeros remove the monetary mass"   Raising: lift or move to a higher position or level.   Deleting: remove or obliterate   Notice the use the word raising not del

U2 need to get a room.

97,500 dinars for 1134 retirees..thats 85.98 dinars per retirees each month for the period of 40 months being paid...sounds about right at a rv rate of 4.851 dollars per dinar. At this rv rate, retire

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Al-Rafidain announces the monthly installment of 3 million dinars

 

 Since 2018-03-17 at 09:02 (Baghdad time)

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Baghdad Mawazine News

Al-Rafidain Bank announced on Saturday the setting of the monthly installment of the 3 million dinars to the retired and secured workers.

The bank said in a statement received by Mawazine News that "the monthly installment of the advance of three million dinars for retired and secured workers is 97500 dinars."

He added that "the advance of three million dinars for retired workers and insured paid for 40 months," noting that "the submission of the advance electronic and by electronic card of the retired worker." Ended 29 / a 43

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  • yota691 changed the title to Rafidain determines the monthly premium for the salaries of retired and insured workers

Rafidain determines the monthly premium for the salaries of retired and insured workers

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Rafidain determines the monthly premium for the salaries of retired and insured workers

 

17-03-2018 03:37 PM

 

The Euphrates -

 

Rafidain Bank announced that the monthly installment of the advance of three million dinars for retired and secured workers is 97500 thousand dinars. 

The bank said in a statement on Tuesday that the advance of three million dinars for retired workers and insured paid for 40 months. 

He pointed out that the application on the advance electronic and by the electronic card of the retired worker.

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The Rafidain Bank announced the disbursement of the 12th group of civil Pensioners ‘ loans, amounting to 3 million dinars.
“The 12th installment of the civil Pensioners ‘ advance of three million dinars was disbursed to 1134 retirees,” the bank’s information office said in a statement.
The statement stated that “the payment of that advance was made by notifying the pensioner by sending him a text message notifying him of the advance grant after he had completed all legal proceedings for his donation and disbursement through the electronic payment tools”.

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97,500 dinars for 1134 retirees..thats 85.98 dinars per retirees each month for the period of 40 months being paid...sounds about right at a rv rate of 4.851 dollars per dinar. At this rv rate, retirees would be getting somewhere from 316 to 400 dollars a month which is what Americans get in their ssi pension...I know cause my dad gets that a month in his ssi pension here in the USA. If iam correct, Iraqi pensioners should get that amount a month plus the shares they get from the HCL. Rv is here folks

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2 hours ago, navira45 said:

97,500 dinars for 1134 retirees..thats 85.98 dinars per retirees each month for the period of 40 months being paid...sounds about right at a rv rate of 4.851 dollars per dinar. At this rv rate, retirees would be getting somewhere from 316 to 400 dollars a month which is what Americans get in their ssi pension...I know cause my dad gets that a month in his ssi pension here in the USA. If iam correct, Iraqi pensioners should get that amount a month plus the shares they get from the HCL. Rv is here folks

 

How much Americans get paid with Social Security varies greatly depending on how much they put into it over the course of their working years. It can be as little as $50 per month all the way to a maximum of $2,500. 

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  • yota691 changed the title to Rafidain launches the electronic form for the retired and insured workers' forerunners
 
BAGHDAD / 
Al-Rafid Bank announced on Tuesday the launch of the electronic form to apply for the salaries of retired and insured workers of three million dinars. 
The bank's press office said in a statement received by al-Ghad Press that it had "released the retired and secured workers' ancestors through the electronic form."

He pointed out that "the grant of the advance is through the electronic card and without a sponsor."
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Release date: 2018/3/20 11:56 • 83 times read
Rafidain launches the electronic form for the advancement of retired and insured workers
[Ayna-Baghdad] 
Rafidain Bank announced the launch of the electronic form for the submission of the advances of retired and insured workers of three million dinars.
The bank's information office said in a statement received by the agency of all Iraq [where] a copy of it, that "the predecessor of retired workers and secured through the electronic form through the link http://www.qicard.net/pla ]." 
He pointed out that "the grant of the advance will be through the electronic card and without a sponsor."
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  • yota691 changed the title to Rafidain: The advance of three million workers retired and secured do not need a sponsor
 
Tuesday 20 March

 

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Alsumaria News / Baghdad 
, said the Bank of Iraq on Tuesday that the three million workers retired, secured anadvance do not need a sponsor. 

The bank's information office said in a statement received by Alsumaria News, a copy of it, that "the grant of three million to the retired workers and secured through the electronic card and without a sponsor." 

He added that "the advances of retired and secured workers have been launched through the electronic form through the website of the bank."

 

 


On March 15, 2018, Rafidain Bank announced the launch of an advance of three million dinars for retired and secured workers.

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Rafidain Bank launches the electronic form to advance three million retired workers

Rafidain Bank announced on Tuesday the launch of the electronic form for the submission of the advances of retired and insured workers of three million dinars.

The bank's press office said in a statement that it had released the retired and secured workers' ancestors through the electronic form via the link http://www.qicard.net/pla. He said that the grant will be through the electronic card and without a sponsor.

https://www.sotaliraq.com/2018/03/21/مصرف-الرافدين-يطلق-الاستمارة-الالكتر/

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  • yota691 changed the title to Bank announces good news to education staff

Bank announces good news to education staff

Bank announces good news to education staff
 



 Twilight News    
 5 hours ago

Al-Rafidain Bank announced on Saturday the launch of the first installment of the advance of five million dinars to the staff of the Directorate of Education Karkh first.

The bank's press office said in a statement to Ashqaf News that the first installment of the five million dinar was disbursed to about 959 employees from the Directorate of Education of Karkh I.

The statement pointed out that the exchange was done through the employee's electronic card, after informing him by text message on his phone informing him of the possibility of receiving the advance through his electronic card, calling the persons covered by the advance to visit the branches of the bank for the receipt of the advance instead of going to the special outlets.

Keywords: 

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  • yota691 changed the title to Rafidain Bank launches the first installment of the five million loan for employees in the education sector
 

Rafidain Bank announced on Saturday the launch of the first installment of the advance of five million dinars to the staff of the Directorate of Education Karkh first.
The bank’s press office said in a statement that “the first installment of the five million dinars was disbursed to about 959 employees from the Directorate of Education Karkh first.”
He pointed out that “the exchange was done through the electronic card of the employee, after informing him by text message on his phone in which he learned the possibility of receiving the advance through his card.
He called on those covered by the advance to “visit the branches of the bank for the receipt of the advance instead of going to the special outlets.”

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5 hours ago, yota691 said:

The statement pointed out that the exchange was done through the employee's electronic card, after informing him by text message on his phone informing him of the possibility of receiving the advance through his electronic card, calling the persons covered by the advance to visit the branches of the bank for the receipt of the advance instead of going to the special outlets.

 

Well, this is good news!!!

 

Having to go through the banks that now provide liquidity for the banks and avert putting hard Iraqi Dinar currency in circulation!!!

 

:backflip:       :backflip:       :backflip:

 

Maybe more good news to come where ALL the government advances are now being paid through the banks instead of advances being paid via hard Iraqi Dinar currency at various pay stations!!! Likely eliminates theft, extortion, and corruption in the payment of advances. Now, if they would just do that for the daily CBI currency auctions!!!

 

:o       :o       :o

 

Go Moola Nova (YEAH, BABY!!!)!!!

:pirateship:

Edited by Synopsis
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  • yota691 changed the title to Al-Rafidain: Completion of loan granting transactions of all types
Release date: 2018/3/25 8:10 • 358 times read
Al-Rafidain: Completion of loan granting transactions of all types
[In Baghdad] 
Al-Rafidain Bank announced the completion and granting of transactions of loans of all kinds to citizens during the month of January last.
The bank's media office said in a statement received by the agency of all Iraq [where] a copy of it, that "the proceeds of loans granted to citizens in January was to grant loans housing compound citizens and employees The number of grant transactions 91 transactions and loans 50 million dinars to build in A plot of land not less than 50 meters and the number of grant transactions was 57 transactions. " 
"Small-scale loans, auto loans, financing loans, scientific research and other loans have been granted," the statement said.
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Legal proceedings against those who fail to pay loan installments

   
 

 
 


25/3/2018 12:00 am 

 BAGHDAD / Haidar al-Athari           The Islamic Bank of Nahrain said it would resort to taking legal action against customers who fail to pay their debts by confiscating their  homes. The director of the bank of the Ministry of Finance, Mohammed Samir in a statement to the "morning": The bank will resort to take all legal procedures to recover the money, through the process of sale of mortgaged property in favor of the bank in public auction in coordination with the real estate registration departments concerned in what The property Murabaha transactions, after the abstention of a number of citizens from payment and the exhaustion of all attempts to persuade them to pay their installments in vain.



He pointed out that a number of customers who benefited from the purchase of the residential role granted by the bank up to 150 million dinars after being evaluated by a specialized technical committee, failed to pay without any legitimate excuse, noting that the bank signed the beneficiaries and guarantors to the property, (Bill of exchange) in the amount of the housing unit in order to guarantee payment.      
He pointed out that the cars will be confiscated by their owners in coordination with the relevant traffic departments, in order to prevent the loss of public funds and the collection of debt in accordance with the laws in force, pointing out that the bank has directed warnings to its customers lamenting, in order to pay their installments of the amounts owed by the funds granted to them , Before the procedures of confiscation and sale at auction.
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  • yota691 changed the title to Rafidain assigns a free number to know the coverage of retirees by advances
Release Date: 2018/4/9 8:19 • 111 times read
Rafidain assigns a free number to know the coverage of retirees by advances
[Ayna - Baghdad] 
announced Rafidain Bank, the allocation of a free number to inquire about granting advances to retirees of three million dinars.
"The free number [422] was allocated to inquire about the inclusion of civil and military retirees in the advance of three million dinars," the bank's media office said in a statement received by the agency All Iraq. 
He pointed out that "the center of customer service works day and night and the retiree can call the number to inquire about his pension and all related to his financial entitlement as well as knowledge of other pension matters."
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  • yota691 changed the title to Association of Private Banks: Doors of banks are open to support pilot projects
Association of Private Banks: Doors of banks are open to support pilot projects
 
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 Banks


Economy News Baghdad :

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, that the doors of private banks are wide open to support small and medium-sized youth, pointing out that there is a problem "global" in the distinction between pilot projects and other projects.

He added that on the sidelines of a panel discussion held by the forum "Innovation for Development" and attended by "Economy News", that entrepreneurs wishing to obtain loans to support their projects must trust their projects first and be shareholders of the capital, stressing the need to provide the entrepreneur a clear idea His project is achievable in order to obtain a loan from banks.

Tariq pointed out that the owner of the project must have a feasibility study correct for his project, so as to know at least what he has and what he has, adding that these banks will deal with these projects in accordance with the instructions of the Central Bank of Iraq.The Executive Director of the Association of Banks, that the Association is ready to cooperate with the United Nations to make amendments to the instructions of the Central Bank on banking facilities for entrepreneurs, noting that the Central Bank deals flexibly with these things.


Views 31   Date Added 04/15/2018

 
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Association of Private Banks: Doors of banks are open to support pilot projects
 
7304.jpg

  

 Banks


Economy News Baghdad :

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, that the doors of private banks are wide open to support small and medium-sized youth, pointing out the existence of a problem "global" in the distinction between pilot projects and other projects.

He added that on the sidelines of a panel discussion held by the forum "Innovation for Development" and attended by "Economy News", that entrepreneurs wishing to obtain loans to support their projects must trust their projects first and be shareholders of the capital, stressing the need to provide the entrepreneur a clear idea His project is achievable in order to obtain a loan from banks.

Tariq pointed out that the owner of the project must have a feasibility study correct for his project, so as to know at least what he has and what he has, adding that these banks will deal with these projects in accordance with the instructions of the Central Bank of Iraq.The Executive Director of the Association of Banks, that the Association is ready to cooperate with the United Nations to make amendments to the instructions of the Central Bank on banking facilities for entrepreneurs, noting that the Central Bank deals flexibly with these things.

 

http://economy-news.net/content.php?id=11947

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On 3/18/2018 at 10:14 AM, navira45 said:

97,500 dinars for 1134 retirees..thats 85.98 dinars per retirees each month for the period of 40 months being paid...sounds about right at a rv rate of 4.851 dollars per dinar. At this rv rate, retirees would be getting somewhere from 316 to 400 dollars a month which is what Americans get in their ssi pension...I know cause my dad gets that a month in his ssi pension here in the USA. If iam correct, Iraqi pensioners should get that amount a month plus the shares they get from the HCL. Rv is here folks

YOU GOT MY VOTE.  lol

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6 hours ago, Butifldrm said:
Association of Private Banks: Doors of banks are open to support pilot projects
 
7304.jpg

  

 Banks


Economy News Baghdad :

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, that the doors of private banks are wide open to support system">support small and medium-sized youth, pointing out the existence of a problem "global" in the distinction between pilot projects and other projects.

He added that on the sidelines of a panel discussion held by the forum "Innovation for Development" and attended by "Economy News", that entrepreneurs wishing to obtain loans to support system">support their projects must trust their projects first and be shareholders of the capital, stressing the need to provide the entrepreneur a clear idea His project is achievable in order to obtain a loan from banks.

Tariq pointed out that the owner of the project must have a feasibility study correct for his project, so as to know at least what he has and what he has, adding that these banks will deal with these projects in accordance with the instructions of the Central Bank of Iraq.The Executive Director of the Association of Banks, that the Association is ready to cooperate with the United Nations to make amendments to the instructions of the Central Bank on banking facilities for entrepreneurs, noting that the Central Bank deals flexibly with these things.

 

http://economy-news.net/content.php?id=11947

Thanks Bitifldrm, nice to see the Private Banks stepping in. 

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3 hours ago, ChuckFinley said:

Thanks Bitifldrm, nice to see the Private Banks stepping in. 

 

Chuck yes,  this is sooo important, because the only way up until now for the private banks to make money was through the currency auction.  The CBI Law had to be amend or give permission to allow the private banks to  invest in the private sector:

 

 

Section 5 – Rules for the Conduct of Banking Activity

Article 26 General banking principles

1. Banks shall conduct their administration and operations in a sound and prudent manner and in accordance with the requirements of the law, any conditions and restrictions attached to their banking licenses or permits issued by the CBI, and the regulations, guidelines and orders issued by the CBI.

2. Banks shall: maintain adequate capital and liquidity; make adequate provision for depreciation of assets, for discharge of liabilities, and for losses; maintain adequate accounting and other records of business; observe sufficient and effective risk controls; and ensure that their assets are diversified as to risk of loss.

3. The CBI shall, by regulation, prescribe detailed standards of conduct for banks which the CBI shall apply in its prudential supervision in accordance with international standards and best practices.

4. The CBI shall issue regulations specifying how the operational requirements specified for banks by the provisions of this section, and in regulations issued by the CBI thereunder, apply to banks and their subsidiaries on a worldwide consolidated basis.

5. Banks shall not establish group structures that hinder the exercise of effective supervision. The CBI may issue regulations specifying rules regarding affiliates of a bank, in particular, concerning the requirements for transactions between banks and any affiliates that are not subject to consolidation in the preparation of financial statements.

6. The CBI shall issue regulations specifying how the operational requirements specified for banks by the provisions of this section, and in regulations issued by the CBI thereunder, shall apply to domestic branch offices of foreign banks.

7. Whenever an administrator of a bank discovers that the capital of the bank is less than the capital required by law or by regulation of the CBI, the administrator must promptly notify the CBI thereof.

8. The CBI may provide guidance, including by means of establishing rules for good business conduct, or specify by regulation rules to ensure the banks’ good relations with their depositors and customers

 

Article 27

Banking activities

1. A bank may engage in the following activities subject to the terms and conditions of its banking license or permit:

   a. receiving money deposits (in the form of demand deposits, time deposits or other types of deposit) or other repayable funds, bearing interest or not;

-25 - ANNEX A

b. extending credits (whether secured or not by collateral or liens), including without limitation: consumer and mortgage credit; factoring, with or without recourse; financing of commercial transactions, including forfaiting (purchasing negotiable instruments at discount without recourse); and financial leasing services;

c. buying and selling for its own account or for the account of customers (including underwriting and brokerage services) of any of the following: money market instruments (including checks, bills of exchange, promissory notes and certificates of deposit); foreign currencies and precious metals; exchange and interest rate instruments; stocks and other transferable securities; and forward contracts, swap agreements, futures, options, and other derivatives relating to currencies, stocks, bonds, precious metals or interest rates;

d. entering into contingent commitments, including guarantees and letters of credit, for its own account and for the account of customers;

e. providing clearing, settlement and transfer services for money, securities, payment orders and payment instruments (including checks, credit, debit and other payment cards, travelers’ checks; and bank drafts, wire transfers, and pre-authorized debits and credits);

f. money brokering;

g. safekeeping and administration of valuables, including securities;

h. providing trust services;

i. providing services as portfolio manager of securities or as financial adviser, agent or consultant;

j. providing financial information and credit reference services; and k. anything that shall be incidental to the foregoing and such other activities, not prohibited by Article 28, as the CBI may by regulation authorize as banking activities.

 

2. The CBI may, in its discretion, and subject to such conditions as it may stipulate, require banks to conduct certain banking activities through separately capitalized subsidiaries that are wholly or majority-owned by the relevant bank.

 

Article 28 Prohibited activities No bank shall engage in or participate as an agent, partner or co-owner in wholesale or retail trade, manufacturing, transportation, agriculture or fisheries, mining, building, re-insurance, insurance underwriting or other business activities except for activities that are authorized by -26 - ANNEX A

 

Article 27. Not withstanding the foregoing, and with the prior written approval of the CBI, a bank may temporarily carry on or participate in the carrying on of such activities to the extent necessary to obtain satisfaction of claims, provided that the CBI may require the bank to cease such activities by a date specified in the license or permit

https://www.cbi.iq/documents/banking_law_f.pdf

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53 minutes ago, Butifldrm said:

 

Chuck yes,  this is sooo important, because the only way up until now for the private banks to make money was through the currency auction.  The CBI Law had to be amend or give permission to allow the private banks to  invest in the private sector:

 

 

Section 5 – Rules for the Conduct of Banking Activity

Article 26 General banking principles

1. Banks shall conduct their administration and operations in a sound and prudent manner and in accordance with the requirements of the law, any conditions and restrictions attached to their banking licenses or permits issued by the CBI, and the regulations, guidelines and orders issued by the CBI.

2. Banks shall: maintain adequate capital and liquidity; make adequate provision for depreciation of assets, for discharge of liabilities, and for losses; maintain adequate accounting and other records of business; observe sufficient and effective risk controls; and ensure that their assets are diversified as to risk of loss.

3. The CBI shall, by regulation, prescribe detailed standards of conduct for banks which the CBI shall apply in its prudential supervision in accordance with international standards and best practices.

4. The CBI shall issue regulations specifying how the operational requirements specified for banks by the provisions of this section, and in regulations issued by the CBI thereunder, apply to banks and their subsidiaries on a worldwide consolidated basis.

5. Banks shall not establish group structures that hinder the exercise of effective supervision. The CBI may issue regulations specifying rules regarding affiliates of a bank, in particular, concerning the requirements for transactions between banks and any affiliates that are not subject to consolidation in the preparation of financial statements.

6. The CBI shall issue regulations specifying how the operational requirements specified for banks by the provisions of this section, and in regulations issued by the CBI thereunder, shall apply to domestic branch offices of foreign banks.

7. Whenever an administrator of a bank discovers that the capital of the bank is less than the capital required by law or by regulation of the CBI, the administrator must promptly notify the CBI thereof.

8. The CBI may provide guidance, including by means of establishing rules for good business conduct, or specify by regulation rules to ensure the banks’ good relations with their depositors and customers

 

Article 27

Banking activities

1. A bank may engage in the following activities subject to the terms and conditions of its banking license or permit:

   a. receiving money deposits (in the form of demand deposits, time deposits or other types of deposit) or other repayable funds, bearing interest or not;

-25 - ANNEX A

b. extending credits (whether secured or not by collateral or liens), including without limitation: consumer and mortgage credit; factoring, with or without recourse; financing of commercial transactions, including forfaiting (purchasing negotiable instruments at discount without recourse); and financial leasing services;

c. buying and selling for its own account or for the account of customers (including underwriting and brokerage services) of any of the following: money market instruments (including checks, bills of exchange, promissory notes and certificates of deposit); foreign currencies and precious metals; exchange and interest rate instruments; stocks and other transferable securities; and forward contracts, swap agreements, futures, options, and other derivatives relating to currencies, stocks, bonds, precious metals or interest rates;

d. entering into contingent commitments, including guarantees and letters of credit, for its own account and for the account of customers;

e. providing clearing, settlement and transfer services for money, securities, payment orders and payment instruments (including checks, credit, debit and other payment cards, travelers’ checks; and bank drafts, wire transfers, and pre-authorized debits and credits);

f. money brokering;

g. safekeeping and administration of valuables, including securities;

h. providing trust services;

i. providing services as portfolio manager of securities or as financial adviser, agent or consultant;

j. providing financial information and credit reference services; and k. anything that shall be incidental to the foregoing and such other activities, not prohibited by Article 28, as the CBI may by regulation authorize as banking activities.

 

2. The CBI may, in its discretion, and subject to such conditions as it may stipulate, require banks to conduct certain banking activities through separately capitalized subsidiaries that are wholly or majority-owned by the relevant bank.

 

Article 28 Prohibited activities No bank shall engage in or participate as an agent, partner or co-owner in wholesale or retail trade, manufacturing, transportation, agriculture or fisheries, mining, building, re-insurance, insurance underwriting or other business activities except for activities that are authorized by -26 - ANNEX A

 

Article 27. Not withstanding the foregoing, and with the prior written approval of the CBI, a bank may temporarily carry on or participate in the carrying on of such activities to the extent necessary to obtain satisfaction of claims, provided that the CBI may require the bank to cease such activities by a date specified in the license or permit

https://www.cbi.iq/documents/banking_law_f.pdf

Agree, plus most if not all do not trust their banks.

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      Medium enterprises embrace the national economy
      Monday, 15 July 2019 37

        Baghdad / Emad Al-Amara     Economic analyst Abdul Sattar Abdul-Jabbar Moussa said that the practical applications of small and medium enterprises in many countries stressed the need for such institutions, regardless of the rate of progress and economic and social development, as the adoption of the national economy, but they need funding.   Small and medium enterprises Between Moses and "morning" that "the importance of small and medium enterprises appear through the exploitation of energies and possibilities and the development of expertise and skills being  "It is important to diversify the national economy in many aspects as it is one of the fertile areas for the development of new creations and ideas, as well as they are the seeds of the core of large institutions." "These projects are characterized by competitive nature, which is reflected in a large extent on the volume of sales and rates of return of activity," pointing out that "these institutions support the industrial strategy based on national development plans, and is a means to support agricultural production and contribute to the mobilization of capital, Their contribution to increasing savings, which will lead to increased investments. "   Local resources "These institutions are often dependent on local resources and spin-offs of large enterprises, thus contributing to reducing the waste of these resources and reducing reliance on imports of raw materials," Moussa said. "These institutions contribute to strengthening the national economy through large institutions through Distribution of their products or supply them with production inputs or through subcontracting with large enterprises manufacturing  Some components or some of the production process necessary for the final product, which is not economically feasible to implement by the large enterprise, so it has a significant role in expanding the base of domestic production.   The role of finance In a related context, a member of the Center for Arab and International Studies, Dr. Amr Hisham that the issue of funding comes at the forefront of the problems faced by small and medium enterprises. He stressed the existence of a wide variety of sources of institutional finance that respond to different levels of growth of institutions, whether small loans or government support and advanced modes of financing, including entry into the stock exchange. "Banks and specialized financial institutions play an important role in overcoming the obstacles imposed by the conventional loan," he said.  Stressing "one of the most convenient alternatives that  Found for medium and small enterprises' investments is the rental loan, a pattern of newly created financing in which a property or equipment is delivered for a specified period of time against agreed installments. "This type of financing is flexible and easy to compare with conventional investment financing," he said.   Venture capital "Risk capital as an economic tool can provide the project with flexible and long-term capital through its extensive ownership of the enterprise, as well as emerging and developing management assistance, especially for institutions with new ideas," Dr. Amr said. Risk capital means the provision of equity capital to establish or develop institutions. Risk capital is normally pooled by investors in the form of a fund used to fund investments in private businesses through equity participation and 20% to 40% ownership of capital. This service is usually through venture capital companies or banks and individual financiers.
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