Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Consensus on simplified procedures and removal of routine


DinarThug
 Share

Recommended Posts

 

The governor of the Central Bank, Ali Alalak, that the retail operations that get in Iraq monthly 15 trillion dinars, noting that the central bank maintained the level of inflation, which did not exceed 2%.
“The central bank has developed payment systems and now has advanced infrastructure,” Al-Aallak said at the Financial Services and Investment Conference held at Al-Rasheed Hotel. “Mobile retail operations as well as the national division are about 15 trillion dinars per month.”
He pointed out that “the central bank maintained inflation during the past years, which did not exceed 2% by stabilizing the dollar exchange rate in local currency.”

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

11 minutes ago, SnowGlobe7 said:

They are announcing to the world they are ready!!!!!

 

HUGE IMO!!!!!

 

Synopsis can you comment on this???

 

ANYONE????? 

 

 

 

Rumor would be that with a maintaining an under 2% spread of the IQD rate vs street rate and if they also pay off Kuwait compensation from the war, they move out of whatever chapter they are in and go to the next.

 

But ya, I am just letting this one ride too. :rocking-chair:

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

1 hour ago, Synopsis said:

 

:hug: SnowGlobe7! The Best Of Your Weekend To You! :tiphat:

 

Lookin’ Good!!!

 

Go Moola Nova!

:pirateship:

 

Wait that's it??????? I thought you would be all over this...man I just realized how much I depend on your comments...do I panic or am I grateful....the answer is YES!!!!!!!

 

 

Link to comment
Share on other sites

1 hour ago, newbieDA said:

 

Rumor would be that with a maintaining an under 2% spread of the IQD rate vs street rate and if they also pay off Kuwait compensation from the war, they move out of whatever chapter they are in and go to the next.

 

But ya, I am just letting this one ride too. :rocking-chair:

 

Oh man....I wanted this to be BIG!!!! LOL thanks newbieDA!!!!!

  • Upvote 1
Link to comment
Share on other sites

11 minutes ago, SnowGlobe7 said:

all the guys tell me that....BWWWHAHAHAAAAAAAA    

 

2 hours ago, newbieDA said:

 

Rumor would be that with a maintaining an under 2% spread of the IQD rate vs street rate and if they also pay off Kuwait compensation from the war, they move out of whatever chapter they are in and go to the next.

 

But ya, I am just letting this one ride too. :rocking-chair:

 

if this true, we should see it soon, it is a big deal, but really we just have to wait to see the impact*

 

* no pun intended

  • Haha 1
Link to comment
Share on other sites

11 hours ago, yota691 said:

Central Bank: Three branches of Iraqi banks will be opened in the Gulf states

 

This is good news since, "Why would they do this or other Gulf States be interested in this if no monetary exchanges as part of "international" commerce"???!!!

 

11 hours ago, yota691 said:

"The delegation will discuss the trade relations between the two countries," Araji said in a speech at the conference on banking and investment, which was attended by the French Minister of Commerce and includes 21 companies that will visit Baghdad during the next two days.

He added that "Iraq welcomes the entry of French companies to work and contribute to the reconstruction of the affected areas."

 

Well, OK, not sure what major role France played in the Coalition but seem to be a very key player in, "work and contribute to the reconstruction of the affected areas."!!!

 

Kinda like the Lil' Red Hen!!!

 

 

"This Bread Is For Those Who Worked On It"!!!

 

So, in this scenario, who is the Lil' Red Hen, the mouse, the cat, the dog, the duck, and the bull???!!!

 

So, OK, the "next two days" seems awful, awful quick. Kinda like waiting just long enough for the "bread" to cool to smoother it with lotsa yummie butter???!!!

 

11 hours ago, yota691 said:

"The central bank has developed payment systems and now has advanced infrastructure," Al-Alak said at the Financial Services and Investment Conference held at Al-Rasheed Hotel. "The retail operations, as well as the national division, are about $ 15 trillion Dinars per month. "

He pointed out that "the central bank maintained inflation during the past years, which did not exceed 2% by stabilizing the dollar exchange rate in local currency."

 

A lil' math here:

 

15 trillion dinar per month x 12 month per year = 180 trillion dinar per year (WOWZERS!!!)!!!

 

Say the budget is 120 trillion dinars per year. This implies a whopping 60 trillion dinars used for something!!!

 

180 trillion IQD / 1,190 IQD/USD = nominally 150 billion USD/year.

 

60 trillion IQD / 1,190 IQD/USD = nominally 50 billion USD/year.

 

However one looks at it, this is some serious money for Iraq. I wonder what will happen when Iraq goes "international" with the IQD???!!!

 

I do like the "advanced infrastructure" comment, though!!!

 

11 hours ago, yota691 said:

He added that "the Association of Iraqi private banks working to achieve financial coverage through the project to settle salaries, which provides banking products modern means to employees in addition to the achievement of other goals within the framework of the rise in the proportion of employees in the banking sector to the proportion of population, and withdraw the mass of cash surplus and increase the proportion Saving to the percentage of home-based compactness ".

He pointed out that "the Association of Private Banks has trained 2,000 employees during 2017 in specialized training courses in the areas of compliance, money laundering, risk management, banking awareness and international accounting standards, as well as grants to enable young graduates and qualify them for banking and job creation for them in private banks."

 

I am very fond of the "withdraw the mass of cash surplus" with the real time reduction of the CHUNKAE' MONAE' being pulled off the streets, maybe???!!!

 

:backflip:       :backflip:       :backflip:

 

And why (oh, why) would they be interested in "international accounting standards" if Iraq is to remain in a closed economy???!!!

 

Looks like Iraq is going international sometime - maybe before we know it. Hey, if the French are all over this, somethin's up???!!!

 

11 hours ago, yota691 said:

He pointed out that "work is underway on the establishment of the Central Bank to establish two companies for the financing of large projects will be the participation of private banks and government in order to contribute to sustainable development."

He called on the media to "convey the real optimistic picture of our economic and banking situation, and to exercise caution in the transfer of information, which often affect negatively and slow down the investment process and shake confidence in investors, especially as we are heading to a major reconstruction."

 

OK, so only my rendition.

 

The Central Bank establishing two companies for the financing of large projects seems to suggest this is part of a "Marshall Plan" type reconstruction effort so the reconstruction transactions are totally separate from the CBI. This is a huge boon for the private banks and government (increased revenues through international trade for reconstruction and economic growth). "Sustainable Development" is kinda an Agenda 21 buzz word that I am hoping is not nefarious. However, reconstruction and economic growth, to me, is like a prosperity opiate that people will want to foster their own well being instead of fighting for everything and causing upheaval so nobody profits. I know, I know, past history seems pretty bleak for this to all happen here but I can not imagine all the regional and international things happening if things were going to blow up.

 

The "optimistic picture" could infer there are going to be arrests and prosecution of significant banking sector individuals and the media is being cautioned to refrain from the "whole thing is FUBAR" since the "shake the confidence in investors" (and maybe international credit agency ratings???) will put a drag on the foreign investment tsunami. Looks like "major reconstruction" is a must do and must have.

 

Lookin' Good for all us here!!!

 

9 hours ago, yota691 said:

"The banking sector has developed significantly over the past years," said financial advisor and banking Samir Al Nusairi, noting that bank capital grew by 98% compared to last year.

 

Al Nusairi said in his speech at the conference "Banking and Investment" held in Baghdad, and attended by "Economy News", "The official indicators and data issued by the Central Bank confirms the growth in the capital level by 98% compared to last year and in terms of assets by 16% Deposits at 15% and credit at 77%. "

 

He explained that "the credit index is one of the most important indicators that indicate the contribution of the banking sector in development, especially as Iraq is experiencing a financial crisis since mid-2014."

 

I am amazed the capital level increased by 98% in the last year. This is one indicator to say not all things are nearly as bleak as noted in some Iraqi news articles. The "financial crisis since mid-2014" is likely a reference to the ISIS flap instilled by Nouri al-Maliki who is likely in hot water that is about to be pressurized and get a lot hotter for him. The announcement of, "Iraq is now totally freed of ISIS controlled areas" may be a very, very near term indicator of things to pop open like a giant popcorn kernel. I am surprised that the freeing of the desert areas in Iraq is taking so long. I suspect this is tied to cleaning up ISIS in Syria, too, that seems to be taking a little longer. I suspect this will ready advance rapidly once all the ISIS controlled areas are retaken by the rivers in Syria.

 

2 hours ago, SnowGlobe7 said:

 

Wait that's it??????? I thought you would be all over this...man I just realized how much I depend on your comments...do I panic or am I grateful....the answer is YES!!!!!!!

 

 

 

Well, OK, SnowGlobe7, I'm not sure if this is what You were all looking for.

 

Sorry I was such a slacker!!!

 

:blush:       :blush:       :blush:

 

The Best Of Your Weekend To You, SnowGlobe7!!!! :tiphat:

 

Let me know if You would like me to comment further!

 

We have so many keen eyed posters here on DV that it is hard to keep up with 'em!!!

 

In the mean time............................

 

Go Moola Nova!

:pirateship:

  • Like 1
  • Thanks 5
  • Upvote 4
Link to comment
Share on other sites

7 minutes ago, SnowGlobe7 said:

Synopsis...Yes this is awesome....and you know I was just giving you a hard time!!!

 

Seriously, I do value your input. I read the articles and sometimes I think to much and just get myself all confused. Sometimes I read them and I really just have no idea. 

 

Image result for grateful cat

ahhhhh come on guys

i need a rv

we all need a rv

grab a beer

take your pants off and go old school running downtown

 

shouting 

rv rv rv

 

and then grab another beer

 

and i am gratefull to all here

 

mmmmmmmm even luigi cause i feel bad for him

  • Like 1
  • Upvote 1
Link to comment
Share on other sites

18 minutes ago, SnowGlobe7 said:

Synopsis...Yes this is awesome....and you know I was just giving you a hard time!!!

 

Seriously, I do value your input. I read the articles and sometimes I think to much and just get myself all confused. Sometimes I read them and I really just have no idea. 

 

Image result for grateful cat

 

Oh, Yeah, SnowGlobe7, we all enjoy giving and receiving the "fun"!

 

I really do appreciate Your Posts, too! :tiphat:

 

I am hopin' we all won't be posting much longer!

 

Go Moola Nova!

:pirateship:

 

  • Like 2
  • Upvote 4
Link to comment
Share on other sites

  • yota691 changed the title to British company to hold its conference for the Iraqi banking and investment summit in Baghdad
 

BAGHDAD / Tomorrow 's Press: 
held the British company Frontier Exchange competent international exhibitions and conferences for the financial sector and banks, in cooperation with the General Secretariat of the Council of Ministers and the Central Bank of Iraq, the Iraqi banking business and investment summit entitled "Iraq 's future" in Baghdad.

The representative of the Secretary-General of the Council of Ministers, Dr. Mahdi Alalak, in a speech during the conference, "The government has taken significant steps to raise the level of financial performance in Iraq, most notably the Council of Ministers Resolution No. (313) for the year 2016 and to leave the monetary deal and shift to electronic transactions, The resolutions calling for activating the private sector and opening up the labor market, which will contribute to achieving sustainable development and adopt modern methods in managing the country's resources and attract investment and enhance the victories achieved. " 
The conference was held at the Rashid Hotel in Baghdad for the period 2-3 / 10/2017, in the presence of the Governor of the Central Bank, the representative of the Secretary General of the Council of Ministers, the Chairman of the National Investment Authority and a number of members of the House of Representatives. In addition, a number of representatives of private companies, banks, Local and international economy.
The conference discussed a set of working papers on the development of the national economy and support the banking sector in Iraq and highlight the investment opportunities and attract Arab and international investments to work within the country.

 
  • Upvote 3
Link to comment
Share on other sites

  • yota691 changed the title to Consensus on simplified procedures and removal of routine

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.



  • Testing the Rocker Badge!

  • Live Exchange Rate

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.