CBI News 11/20/2018

[yota691]

Report of the Governor's visit to Washington

 November 20, 2017

 

Summary of the Annual Meetings Report of the International Monetary Fund and the Talks of the Credit Union (Third Round) and the visit of the Governor of the Central Bank to the UN Security Council ... Click here to download

[yota691]

Annual Financial Stability Report

 

  

 November 20, 2017

 

Annual Financial Stability Report for 2016 ... Click here

 

[yota691]

20-11-2017 11:07 AM

The Central Bank issues a report on deposits and explains the banking situation in Iraq

 

 

 

A report by the Central Bank, on Monday, the decline of bank deposits for 2016, indicating that the government deposits concentrated in the Rafidain Bank, pointing to the weak contribution of the banking sector in GDP, while pointing out that Iraq needs to increase the branches of banks to deliver banking services to the largest number Of the population. 

The report, prepared by the Central Bank of Iraq, said that the financial deposits for 2016 according to the index of Herndel-Hirschman 'recorded a decline to reach 62.4 trillion dinars compared to 63.3 trillion dinars in 2015, and the decline in the volume of banking assets of 222.8 trillion dinars in 221.2 trillion dinars' , Indicating that 'most of the assets concentrated in the Rafidain Bank, which means that there is a monopoly by it will reflect negatively on the Rafidain Bank and the banking system in general.'

The report added that 'most of the government deposits concentrated in the Rafidain Bank and by 2392 points out of 3050 points as is the case for assets', pointing to 'the rise of banks' capital to 11.7 trillion dinars in 2016, after it was 10.1 trillion dinars in 2015 as a result of the establishment 8 new private banks, including 7 Islamic banks and one foreign commercial bank '. 

The report pointed out that 'financial safety indicators showed the rate of capital adequacy ratio of the banking sector amounted to 128% for 2016 compared to the same for 2015, amounting to 106%,' stressing that 'this high ratio reflects the capacity and efficiency of the banking system, which is higher than the percentage determined by the Committee Basel, 8%, and the Central Bank of 12%.

The report pointed out that 'the volume of banking spread has not changed much during the past years, reaching in 2016, 2.81, or about 3 branches per 100 thousand people, which means that Iraq needs to increase the number of branches of banks in order to access banking services to the largest number "The ratio of loans to the private sector to GDP rises to 9.2 percent in 2016, which reveals the weak contribution of the banking sector to GDP."

[yota691]

The Central Bank issues a report on deposits and explains the banking situation in Iraq

By

 rami

 -

November 20, 2017

14

0

 

 

 

A report by the Central Bank of Iraq, on Monday, the decline of bank deposits for 2016, indicating that the government deposits concentrated in the Rafidain Bank, pointing to weak contribution of the banking sector in GDP, pointing out that Iraq needs to increase bank branches to deliver banking services to the largest Number of population.
According to the Central Bank of Iraq report, the financial deposits for 2016, according to the Herald-Hirschman index, “decreased to reach 62.4 trillion dinars compared to 63.3 trillion dinars in 2015 and the decrease in the volume of banking assets from 222.8 trillion dinars in 221.2 trillion dinars” , Indicating that “most of the assets concentrated in the Rafidain Bank, which means that there is a monopoly by it will reflect negatively on the Rafidain Bank and the banking system in general.”
The report added that “most of the government deposits concentrated in the Rafidain Bank and by 2392 points out of 3050 points, as is the case for assets,” noting that “the rise of banks’ capital to 11.7 trillion dinars in 2016, after it was 10.1 trillion dinars in 2015 as a result of the establishment 8 new private banks, including 7 Islamic banks and one foreign commercial bank.
The report pointed out that “the financial safety indicators showed the rate of capital adequacy of the banking sector amounted to 128% for 2016 compared to the same for 2015, amounting to 106%,” stressing that “this high ratio reflects the capacity and efficiency of the banking system, which is higher than the percentage determined by the Committee Basel, which is 8% and the central bank’s 12% rate. ”
The report pointed out that “the volume of banking spread has not changed significantly during the past years, reaching in 2016, 2.81, or about 3 branches per 100 thousand people, which means that Iraq needs to increase the number of branches of banks in order to access banking services to the largest number “The ratio of loans to the private sector to GDP will rise to 9.2 percent in 2016, revealing the weak contribution of the banking sector to GDP.”

[yota691]

Iraqi banks' capital rises by 16%

 

Logo of the Central Bank of Iraq

Economy News Baghdad: The Central Bank of Iraq, the capital of banks operating in Iraq during the year 2016 increased by 16%. The report, published by the Central Bank and read by "Economy News", "The year 2016 registered a rise in the capital of banks by 16% to reach 11.7 trillion dinars, after it was 10.1 trillion dinars in 2015. The report said that "this increase was in the capital of private banks, which rose from 7.9 trillion dinars in 2015 to 9.5 trillion dinars in 2016 as a result of the entry of 8 new private banks during the year 2016, including 7 Islamic banks and one commercial bank."     Views 8   Date Added 11/20/2017

[yota691]

The Central Bank issues a report on deposits and clarifies the banking situation in Iraq

 

Economy News _ Baghdad A report by the Central Bank, on Monday, the decline of bank deposits for 2016, indicating that the government deposits concentrated in the Rafidain Bank, pointing to the weak contribution of the banking sector in GDP, pointing out that Iraq needs to increase banks branches to deliver banking services to the largest number Of the population. The report, prepared by the Central Bank of Iraq and read by the "Economy News", that the financial deposits for 2016, according to Herald-Hirschman index, "recorded a decline to reach 62.4 trillion dinars compared to 63.3 trillion dinars in 2015, and the decline in the size of bank assets of 222.8 trillion Dinars in 221.2 trillion dinars, "noting that" most of the assets concentrated in the Rafidain Bank, which means that there is a monopoly by it will reflect negatively on Rafidain Bank and the banking system in general. " The report added that "most of the government deposits concentrated in the Rafidain Bank and by 2392 points out of 3050 points, as is the case for assets," noting that "the rise of banks' capital to 11.7 trillion dinars in 2016, after it was 10.1 trillion dinars in 2015 as a result of the establishment 8 new private banks, including 7 Islamic banks and one foreign commercial bank. The report pointed out that "the financial safety indicators showed the rate of capital adequacy of the banking sector amounted to 128% for 2016 compared to the same for 2015, amounting to 106%," stressing that "this high ratio reflects the capacity and efficiency of the banking system, which is higher than the percentage determined by the Committee Basel, which is 8% and the central bank's 12% rate. " The report pointed out that "the volume of banking spread has not changed significantly during the past years, reaching in 2016, 2.81, or about 3 branches per 100 thousand people, which means that Iraq needs to increase the number of branches of banks in order to access banking services to the largest number "The ratio of loans to the private sector to GDP will rise to 9.2 percent in 2016, revealing the weak contribution of the banking sector to GDP."   Views 42   Date Added 20/11/2017

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thanks yota

 

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Bump bumpity bump

 

[yota691]

Central Bank: 89% of adults do not have bank accounts

 

Economy News _ Baghdad The Central Bank of Iraq, on Tuesday, that 89% of adults do not have bank accounts, noting that the reluctance of many individuals to deal with banks because of religious rulings, one of these reasons.  "The World Bank estimates for 2014 indicated that the number of deposit accounts for Iraqis to the number of adults is 11%, that is, 89% of these adults do not have bank accounts, but they deal with criticism," the bank said in its annual report on financial stability for 2016. In settlement of their transactions and discharge of debts. " The report added that "the available data for 2015 and 2016 showed that the ratio fell to 6.5% and 6.8%, respectively," noting that "the decline is due to the concentration of branches of banks in the province of Baghdad up to 37.8% of the total banks operating in Iraq during 2016 , In addition to the reluctance of many individuals to deal with banks because of religious provisions, as well as the increase in currency in terms of money supply in the narrow sense of 59.5% in 2016 clear indicator and preference individuals settlement transactions in cash as well as the spread of the phenomenon of compactness.   Views 0   Date Added 21/11/2017

[yota691]

Central Bank: 89% of adults do not have bank accounts

 

Editor Hossam Al - Khafaji - Tuesday, November 21,

 

Alsumaria News / Baghdad , said the Iraqi Central Bank on Tuesday that 89% of adults do not have bank accounts, noting that many individuals refrain dealing with banks because of their religious verdicts one of these reasons.  "The World Bank estimates for 2014 indicate that the number of deposit accounts for Iraqis to the number of adults is 11%, meaning that 89% of these adults do not have bank accounts, but deal with cash settlement of their transactions and discharge of receivables "He said.     The report added that "the available data for 2015 and 2016 showed that the ratio fell to 6.5% and 6.8%, respectively," noting that "the decline is due to the concentration of branches of banks in the province of Baghdad up to 37.8% of the total banks operating in Iraq during 2016 , As well as the reluctance of many individuals to deal with banks because of religious provisions, as well as the increase in currency in terms of money supply in the narrow sense of 59.5% in 2016 clear indicator and preference individuals settlement transactions in cash as well as the spread of the phenomenon of compactness.  It is noteworthy that the administrative routine at the banks in opening savings accounts led to the reluctance of most individuals to open these deposits with banks and went to the process of hoarding in the role.

[DinarThug]

CNN. Broadcasting A Pure Report - Anything Else Is Pure BS !

 

 

(by don961)

PAGE 1
The Republic of Iraq
Central Bank of Iraq
Pure Report
Annual Meetings of the International Monetary Fund and Convention Talks
(Third round) and the visit of the Governor of the Central Bank
To the UN Security Council
PAGE 4
Introduction:
The annual meetings of the International Monetary Fund (IMF) and the World Bank Group are held at +? - ?? Of the month
October each year is a good and important opportunity for the central banks and financial ministries of the world to identify, share and exchange
Experiences on the latest changes in economic policies (monetary and financial) and their instruments and the global banking system
Particularly in the area of compliance with FATF recommendations (h) in the area of combating money laundering and financing
Terrorism, risk management and electronic services. Participation in these meetings is also a special opportunity for the delegation
Iraqi conflict to discuss the agreement of the interim readiness that took place between the Iraqi government and the International Monetary Fund in 1%

A meeting was held with the US Treasury delegation
Headed by Assistant Secretary of the Treasury for Finance
About what can be offered to facilitate the task of a team
Fund and the Iraqi side. In: Review
Of the TNA and updated
The budget to be compliant with the requirements
International Monetary Fund.
Cash and capital markets were discussed with the department In which the Fund was assisted To reduce the difference between the price Formal exchange and parallel market and re Structuring of good banking and Rafidain 

Holding a meeting chaired by the governor and the accompanying delegation with A delegation from the US Federal Reserve Bank headed by Assistant to the President for Technical Affairs
On the subject of the amount and shipments of dollars expected for the year The Federal Delegation provided a study on forecasting About the 8-dollar amount? "
Statistics for 1% and "
Used by the issuing department and cabinets Forecast for the year The evaluation report of the Investment Department was discussed And in coordination with the external consultancy firm On reviewing the procedures and systems in Especially the SWIFT and remittance sections External reports will be provided periodically on this
To senior management by all parties Concerned.
The criteria and procedures for selling the currency were discussed

Recommendations and proposals
N - will be Assistant Treasury Secretary
Visited Iraq during the period And meet the Governor And Iraqi officials to promote Cooperation between the two parties in particular
In the fight against the financing of terrorism And anti-money laundering.

International auditing and classification of banks to enter the window According to these criteria.
A meeting was held with the Undersecretary of the Treasury Of the Financial Crimes Enforcement Service
A & B
0 [660060] New
And submit a working paper Usually structuring Banking companies operating in Iraq including Control and control To the conversion of the transfer companies To Islamic banks either

Especially after cash management has shown Columbia University is willing to publish This research and scientific studies in Its international publications because of its impact Great _ and great reputation _ for research And our studies. This topic also has been Talk to other universities such as George Mason University Virginia _ which she also showed Willingness to accept some of the staff Bank in postgraduate programs For the coming years.
Both companies promised in Meetings to reduce the initial cost Which it had previously provided to the Bank
Marked and competitive for the polymer coin if The central bank administration has taken Iraqi decision to adopt the polymer currency In the coming year.

Discuss the topic of the transformation from paper currency to The polymer coin which showed the study provided
The British company  Delaru will be reduced The printing costs of the currency strengthen the security issues of the currency Of the possibility of fraud by forging rings Currency and the sustainability of the new currency three times when Trading compared to the current currency.
The French company Obrethure, the French company, I met with the Governor and the accompanying delegation an invitation to visit The company's center and the company's representative gave the same points Offered by the company Delarueabout the conversion of the currency Polymer instead of the current conventional paper currency.

Implement the plan of the Central Bank in the restructuring of the banking system in Iraq, especially in the field of reducing the number Banks in Iraq, restructuring government banks and reducing the number of banking companies
And convert financial transfer companies into entities with strict instructions and controls as in Banking systems in the world. We are currently coordinating with our international partners to find the appropriate formula to return
The structure of the system will be presented to the Board of Directors for final study, discussion and approval.

Visit the headquarters of Bank 006 (5006) in Germany at the invitation of the Governor To develop the relationship between the central bank and the bank, especially in bonds 00000005 and help in finding Correspondent banks deal with Iraqi banks and the Ministry of Foreign Affairs of Denmark to thank them for the allocation Another blow to the technical assistance of the Office for Combating Money Laundering and Terrorist Financing for the year 2007? And visit units Counterparts in Belgium, France and Italy to sign MoUs with them in order to provide technical assistance in this And the promotion of Iraq's membership in the Egmont Group (600,000).

Study of the US Federal Reserve's proposals on dollar sales and planned shipments for the year 48.Especially after the increase that took place this year and find a mechanism to pay the dues of some companies
Investment agreements with the government on their financial transfers. The end of this year's end of the year, especially the remittances section

To the Member States during his meeting with the Governor and his accompanying delegation in Washington.
Forming a team selected by the Governor to open channels of communication and coordination with the Saudi Monetary Agency for Fatah
The prospects of cooperation in opening banking relations and exchanging experiences and technical assistance, especially after the fruitful meeting in Washington between the Governor of the Central Bank and the Governor of the Saudi Monetary Agency.
Review the printing of the Iraqi currency between the choice of the current paper currency and the polymer currency in terms of cost
And long-term security, especially as the Iraqi economy and daily financial transactions
Banking is heavily dependent on cash handling rather than price cards.
Prepare a working paper for the Conference on the Reconstruction of Free Zones organized by the terrorist organization to be organized in Kuwait at the beginning of next year by a team specialized in the Central Bank of what can be achieved from the countries Reconstruction and mechanisms to ensure the success of these projects.
https://cbi.iq/static/uploads/up/file-151116963925280.pdf

[DinarThug]

Above Was A Highlighted Condensed Version !  

 

 

But Here’s All 13 Pages For Those Of U Wanting The Full Monty !  

 

     

 

 

 

PAGE 1

The Republic of Iraq
Central Bank of Iraq
Pure Report
Annual Meetings of the International Monetary Fund and Convention Talks
(Third round) and the visit of the Governor of the Central Bank
To the UN Security Council

PAGE 4

Introduction:

The annual meetings of the International Monetary Fund (IMF) and the World Bank Group are held at +? - ?? Of the month
October each year is a good and important opportunity for the central banks and financial ministries of the world to identify, share and exchange
Experiences on the latest changes in economic policies (monetary and financial) and their instruments and the global banking system
Particularly in the area of compliance with FATF recommendations (h) in the area of combating money laundering and financing
Terrorism, risk management and electronic services. Participation in these meetings is also a special opportunity for the delegation
Iraqi conflict to discuss the agreement of the interim readiness that took place between the Iraqi government and the International Monetary Fund in 1%
On the basis of which the Fund is lending the Iraqi Government a financial loan with very little interest to help it manage
And the reduction of the large fiscal deficit in the public budget, which was first the result of the military campaign and the war on terrorism to judge the so-called "Organization of the Islamic State" (calling) and the liberation of all Iraqi cities and territories that dominate
And secondly because of the significant drop in oil prices that led to a significant reduction in government revenues
Due to the dependence of the Iraqi economy almost entirely on the export of crude oil in its revenues and that was a series of
Meetings with the team in charge of the Fund and the Iraqi Government team headed by the Governor of the Central Bank and the Undersecretary
Ministry of Finance and senior management from both institutions. Most of the points were agreed upon in the third review, except for the presence
The difference in the deficit in the budget of about "one trillion Iraqi dinars for the year ..? And which the parties are trying to find a mechanism
To reduce it and within the criteria and conditions of the Convention.
During the visit to the US capital, many meetings and side meetings were held
Separate meetings with some central bank governors such as the Dutch Central Bank and the head of SAMA
The President of the Arab Monetary Fund and representatives of several international commercial banks such as the German Bank
300 006 (5006), Bank 6% 0 [936] and the Japanese Bank for International Development and Bank 613003 [01
6260 and 061300, which are in the form of currency notes and the National Bank of Kuwait. as such
An important meeting was held with the US Assistant Secretary of Treasury and his accompanying delegation and the Federal Reserve Board of Governors
On common themes of mutual concern.
on the other hand. The Washington Center for Near East Policy hosted the Governor of the Central Bank and presented a lecture
Which was attended by many economists, economists and financial analysts on the Bank's new monetary policy
Central Bank of Iraq within the new five-year strategy (A + 1)? + Achievements and launch of the strategy

PAGE 5

And restructuring the Iraqi banking system to suit
And keeps pace with the global banking system.

The Governor of the Central Bank, on the basis of a special case for the first time by the UN Security Council in the United Nations
The United Nations in New York visited the Security Council and presented a technical presentation on the national strategy to combat money laundering
And the financing of terrorism presented by the Governor in the corridors of the Security Council and its competent committees, especially the Follow-up and Combat Committee
Terrorist organizations and their inclusion in the international lists of the UN. The Governor of the Central Bank also provided
An academic lecture at Columbia University for postgraduate students in business administration based on a special case before him
Presidency University.
This report summarizes what has been discussed, discussed and agreed at these important meetings between the parties mentioned above
Some recommendations and observations.

PAGE 6

Recommendations and proposals
Exercise type of influence and pressure
To some influential countries
Fund to recruit a number of experts
Iraqis in important jobs.
The Governor 's approval to select a number of
Bank staff in the Joint Commission
Between the parties to prepare a worksheet with
The Saudi party before meeting
Conservatives in Riyadh after it has been
Direct a formal suit to the Governor
Visit the Kingdom.
Write an official note except
Financial operations
International humanitarian organizations, foremost among them
United Nations Assistance Programs
Displaced persons in the region from any sanctions
Or actions initiated by the Government
And the House of Representatives due to the referendum
Conducted by the territorial Government
To separate from Iraq
The issue is humane and belongs to the citizen
And displaced persons in the region.
Governor's approval to select a point
Continue from the central bank with
Bank officials
To discuss the topics you have completed
Agreement and report
For management in this regard.

Thaqati
The governor and the accompanying delegation participated and the Ambassador was absent
Iraqi meeting in Washington
Fund with central bankers and ministers
The Middle East and North Africa
The governor put forward a three-point working paper
The following:

1. Demonstrate more flexibility and understanding in the third review
In the circumstances that have passed through Iraq and existence
And the countries of the region in the Fund
Become exclusive to a number of countries.

a. Encourage and remove fear in banks
External Messaging in the opening of banking transactions
With Iraqi banks, especially after compliance
Iraq to the FATF Recommendations (P & 7).
Help Iraq in its reconstruction program
Free zones through their participation
Effective at the Kuwait conference to be held at the beginning
Next year.

The governor and the accompanying delegation met with a governor
SAMA and its accompanying delegation
The meeting discussed common issues in politics
Cash, and banking have been agreed to form a committee
A joint paper is preparing a working paper to develop relationships
Banking: between the parties and especially the opening branches
To local banks of each country in the country and coordination
And communication between anti-money laundering units
The financing of terrorism and the exchange of information and expertise
Technical assistance.

The Governor and the accompanying delegation met with the Governor of the Bank
The Dutch Central Bank and its accompanying delegation
The meeting dealt with the distinguished relationship between the two institutions
Especially in helping the Dutch bank manage
Investment portfolio of the Investment Department and bonds
005, the governor has thanked the bank reduction
The Dutch central bank had its own commission
Portfolio Management.

The governor and the accompanying delegation held a meeting with
Officials of the United Nations Finance Department
The UN delegation addressed the obstacles it faces
Currently in the Kurdistan Region of Iraq because of some
Restrictions and actions taken by the Government and the Bank
Due to the establishment of the provincial government By making
Referendum on Iraq. The delegation presented
That most of its financial transfers to the region and through
Banks operating there are dedicated to help
Displaced from the areas they controlled
Advocacy and humanitarian programs carried out by organizations

Mission / Meetings / Visits
Annual Meetings of Governors
Central banks and finance ministers
In the IMF and the Group
The World Bank

PAGE 7

Affiliated to the United Nations within the territory will cause these
Procedures for the arrest of many of these programs
It will have a significant negative impact on IDPs
And citizens of the region.
The governor and the accompanying delegation met with a bank team
8% and 16% on enhancing cooperation in the fields
Banking, government bonds and banks
External correspondence with Iraqi banks
And technical assistance to restructure government banks
Rasheed and Rafidain. The bank team has shown
Willingness to cooperate and coordinate with the Bank team
The central theme is above.
A meeting was held with the Japan Cooperation Bank
And agreement on the mechanism of assistance
The Japanese government through the development agency
(M & A 6) in Iraq as well
The meeting was held with representatives of Bank 06016006
0305 about enhancing cooperation between
And the Central Bank of Iraq
Especially in the area of European bonds
And technical assistance.

Never had a consensus with Redes Fund of Exhaustion
Arab Fund on the role of the Fund in its implementation
Arab monetary policy and the role of the bank
CBI in the implementation of this plan
Development and implementation of the Fund.

The meeting was chaired by the Governor
Executive Director 1 Regional 1A
513003 [4 About mode
Bank in Iraq especially that it has
In Baghdad and its center in Erbil
And in addition to some villages
Financial and banking operations that he wishes
Opening new branches and remittances.

A meeting was held with representatives of the National Bank
To discuss the challenges it faces
The bank is in the market especially being
The largest shareholder in the International Development Bank
To invest and develop banking business
With officials of the Development Bank to listen to
Problems currently facing the bank
And to provide the required assistance.

PAGE 8

Recommendations and proposals

Conducted by the Ministry of Finance team
Numbers and private data
Income and expenditure budget
The General Assembly for E is not yet
There is a deficit in the balance
The difference between revenue
Local and local expenses are estimated
About 1. trillion Iraqi dinars
Before the next meeting and provide solutions
For the fund team reduce the difference
To be consistent with the objectives of the program
Which seeks to reduce the balance
Non-oil deficit.
The IFAD team proposed a review
Tax policy and management by
Government to increase non-revenue
Which will fund the fund
Make some suggestions through
Technical Assistance Desk (100 p.
Complete the questionnaire sent by
Before the Fund) Legal Section
And financial (___ _ Central Bank
Related to the foreign exchange system
Which was distributed to banks
Companies participating in the sale window
Foreign currency for a purpose
Organization of the mechanism for the sale of foreign currency
A. International and how to calculate
The gap between the lowest and the highest price for Delphi
Getting into any trouble. ==

Do a committee of bank departments
Central Auditing Standards

A contract was signed with the company 0% 6 ©
External Advisory Assistance
Investment Department
Initial recommendations
In its initial assessment report
Which was discussed in Amman
Jordan in? 1

The Governor supervised the government delegation (Ministry of Finance)
And the Central Bank (meetings held with
IMF team for the third round of the agreement
The Antennas Preparedness (© 2006-2012)
Where all were agreed upon
The criteria and conditions of the agreement, except for a deficit
The budget is about "." Trillion Iraqi dinars
Represents the difference between local revenue and local expenditure
In the non-oil balance.

A meeting was held under the chairmanship of the Governor and the Deputy Minister
Finance and members of the delegation with the Vice President of the IMF
To thank him for everything the Fund's team offers
In the third round talks and another meeting was held
With the Executive Director of the Middle East
Africa on the working paper presented by the Governor during the meeting
Meeting with the President of the Fund and the mechanism to implement them.

A meeting was held with the US Treasury delegation
Headed by Assistant Secretary of the Treasury for Finance
About what can be offered to facilitate the task of a team
Fund and the Iraqi side. In: Review
Of the TNA and updated
The budget to be compliant with the requirements
International Monetary Fund.

Cash and capital markets were discussed with the department
In which the Fund was assisted
To reduce the difference between the price
Formal exchange and parallel market and re
Structuring of good banking and Rafidain And section
Forecasts in the Department of Statistics and Research.

Holding a meeting chaired by the governor and the accompanying delegation with
A delegation from the US Federal Reserve Bank headed by
Assistant to the President for Technical Affairs
On the subject of the amount and shipments of dollars expected for the year
The Federal Delegation provided a study on forecasting
About the 8-dollar amount? "
Statistics for 1% and "
Used by the issuing department and cabinets
Forecast for the year

The evaluation report of the Investment Department was discussed
And in coordination with the external consultancy firm
On reviewing the procedures and systems in
Especially the SWIFT and remittance sections
External reports will be provided periodically on this
To senior management by all parties
Concerned.

The criteria and procedures for selling the currency were discussed
And to pay tribute to what was accomplished in 2007 "
And the possibility of developing these standards through the company

PAGE 9

Recommendations and proposals

N - will be Assistant Treasury Secretary
Visited Iraq during the period

And meet the Governor
And Iraqi officials to promote
Cooperation between the two parties in particular
In the fight against the financing of terrorism
And anti-money laundering.

Will be the central bank
In cooperation with the Committee of

Experts in the Security Council
Study technical assistance from
Office of Drug Control
And crime in the United Nations
And a presentation on the implementation mechanism
Integrated Software
Allah.
The Security Council filed a lawsuit
Especially to the Governor of the Central Bank
To attend an anti-conference

Terrorism is held at the United Nations
In 18 years

Results
On reviewing the procedures and systems in

Especially the SWIFT and remittance sections
External reports will be provided periodically on this
To senior management by all parties
Concerned.

The criteria and procedures for selling the currency were discussed
And appreciation of what was accomplished in 2008
And the possibility of developing these standards through the company
International auditing and classification of banks to enter the window
According to these criteria.

A meeting was held with the Undersecretary of the Treasury
Of the Financial Crimes Enforcement Service
A & B
0 [660060] New
And submit a working paper Usually structuring
Banking companies operating in Iraq including
Control and control
To the conversion of the transfer companies
To Islamic banks either
Banking companies thus exist either
Banks (commercial, governmental and Islamic)
And to ordinary banking companies.
Banking and Financial Transfer Companies
And persons involved in financing
Islamic State.

He visited the Governor of the Central Bank and based on
Special action by the Security Council
Visited the headquarters of the United Nations and accompanied by the Ambassador
Permanent Representative of Iraq to the United Nations
And has been closed session with
Its members gave the governor a technical presentation about
Procedures and achievements of the Central Bank
And the Anti-Money Laundering and Financing Office
Terrorism and the Committee on the Freezing of Terrorist Funds
The strategy was also presented
National Anti-Money Laundering and Financing
Terrorism "strategy with a strategy
Five-year central bank in the development
The banking system in Iraq to keep pace
It is integrated with the global banking system
And against any suspicious processes or
Illegal in money laundering and financing
Terrorism. Member States have expressed their interest in the
The Security Council is very impressed and interested

PAGE 10

Recommendations and proposals
Such seminars should be used
And official invitations in the media
Inside and outside the system improved
Through domestic banking
Local and international satellite channels
Newspapers and media
In particular the development
Relationship between local banks
And correspondent banks.
Be the media department
And the bank's official spokesman
Central role in the show and dissemination
Such occasions because of their influence
Big . In Improved Reputation. the bank
CBI and the regime
Banker regionally and internationally.

0 Press the Media Section
And in coordination with _ circles _. the bank
Central all in the preparation of a worksheet
For the International Conference on Reconstruction
Liberalized areas adopted by a state
Kuwait at the beginning of next year

Results
Procedures and achievements

Fighting terrorist organizations financially
Especially the dude.

The Security Council and its competent committees
Provide the necessary technical and logistical support
Especially the Office for Combating the Laundering
Financing and terrorism financing
Integrated technological system
Owned by 8006 does not) office counter
Drugs and Crime in the United Nations
And special grants by some countries
Members.

Mechanisms and procedures were discussed
Must be followed in the inclusion of names
Persons and entities that are frozen
Its funds and assets are frozen by the Committee
Funds of domestic and foreign terrorists
Incorporated by competent committees in
The Security Council and in cooperation with the Representative
Permanent Mission of Iraq to the United Nations
Such entities and persons are included in
As fast as possible and circulate to all
Banks, financial institutions and others
Fast Track Finance
Freeze them.

At the invitation of the Governor of the Bank
The Washington Center for Near East Policy
The lowest, an important center in Washington, was presented by a governor
An interactive lecture book attended by many of the participants
Economic and financial experts and some staff
Diplomatic and official bodies and international organizations
Where the Governor introduced the policy of the Central Bank
And its five-year strategy
And the National Anti-Money Laundering Strategy
And financing terrorism). A. a . And achievements
Which have been achieved over the last three years
Round 3 talks of the Preparedness Agreement
With the International Monetary Fund and the stage
Of the new country after the liberation of the cities and lands it was
Controlled by the so-called Islamic State Organization
Reconstruction of these areas and investment in Iraq.

PAGE 11

Recommendations and proposals
To be developed through the Government
Donor countries from mechanisms
Ensuring the success of reconstruction projects.
We suggest that senior management identify
Number of researches and studies that
Provided by the central bank in politics
Especially after cash management has shown
Columbia University is willing to publish
This research and scientific studies in
Its international publications because of its impact
Great _ and great reputation _ for research
And our studies. This topic also has been
Talk to other universities such as
George Mason University
Virginia _ which she also showed
Willingness to accept some of the staff
Bank in postgraduate programs
For the coming years.
Both companies promised in
Meetings to reduce the initial cost
Which it had previously provided to the Bank
Marked and competitive for the polymer coin if
The central bank administration has taken
Iraqi decision to adopt the polymer currency
In the coming year.

Results

At the invitation of the Governor of the Bank
Central Department of Columbia University in New York
The governor presented an interactive lecture with some
Academics, researchers and graduate students in
Economy and business management on monetary policy
Followed by the Central Bank in recent years
The Five-Year Strategy?
Of compliance with international requirements,
AML / CFT
The risks facing the banking system and the role of the bank
Central to the process of rebuilding Iraq.

Discuss the topic of the transformation from paper currency to
The polymer coin which showed the study provided
The British company  Delaru will be reduced
The printing costs of the currency strengthen the security issues of the currency
Of the possibility of fraud by forging rings
Currency and the sustainability of the new currency three times when
Trading compared to the current currency.

The French company Obrethure, the French company,
I met with the Governor and the accompanying delegation an invitation to visit
The company's center and the company's representative gave the same points
Offered by the company Delarue about the conversion of the currency
Polymer instead of the current conventional paper currency.

PAGE 12

Summary of Recommendations and Recommendations:

• The Ministry of Finance reviews the figures and financial statements of revenues and expenditures for the budget year?
Especially after a deficit in the non-oil balance (the difference between local income and local expenses / dirhams)
(Estimated at "trillions of dinars before the next meeting and make proposals to the team of the Fund
To reduce the deficit.

Formation of a team headed by the Governor to open channels of communication and scientific cooperation and dissemination of research in monetary policy
And economic relations with universities and academic centers in the United States, especially after the large calls
Attended by the Governor of the Central Bank and the interest of those universities and research centers of what the Central Bank
Development of monetary policy banking system in Iraq.

Implement the plan of the Central Bank in the restructuring of the banking system in Iraq, especially in the field of reducing the number
Banks in Iraq, restructuring government banks and reducing the number of banking companies
And convert financial transfer companies into entities with strict instructions and controls as in
Banking systems in the world. We are currently coordinating with our international partners to find the appropriate formula to return
The structure of the system will be presented to the Board of Directors for final study, discussion and approval.

Visit the headquarters of Bank 006 (5006) in Germany at the invitation of the Governor
To develop the relationship between the central bank and the bank, especially in bonds 00000005 and help in finding
Correspondent banks deal with Iraqi banks and the Ministry of Foreign Affairs of Denmark to thank them for the allocation
Another blow to the technical assistance of the Office for Combating Money Laundering and Terrorist Financing for the year 2007? And visit units
Counterparts in Belgium, France and Italy to sign MoUs with them in order to provide technical assistance in this
And the promotion of Iraq's membership in the Egmont Group (600,000).

Ending the process of publishing the names of entities and persons listed on the Security Council of the United Nations
And local lists on the AML / CFT website
Freezing of assets and funds of such entities and persons in all government institutions and banks
And financial institutions.

PAGE 13

Initiate negotiations with the Counter-Terrorism Committee and the Executive Counter-Terrorism Service by purchasing a copy of the system
08/11 of the Office of Anti-Crimes and Drugs Control 80060 for Anti-Money Laundering and Financing Office
Especially after the Governor's visit to the Security Council and its committees and their willingness to assist in this area.

Study of the US Federal Reserve's proposals on dollar sales and planned shipments for the year
48. Especially after the increase that took place this year and find a mechanism to pay the dues of some companies
Investment agreements with the government on their financial transfers.

The end of this year's end of the year, especially the remittances section
In cooperation with the Department of Information Technology.

Studying the proposals and points that were put forward with the President of the Arab Monetary Fund in the field of portfolios and funds
To the Member States during his meeting with the Governor and his accompanying delegation in Washington.

Forming a team selected by the Governor to open channels of communication and coordination with the Saudi Monetary Agency for Fatah
The prospects of cooperation in opening banking relations and exchanging experiences and technical assistance, especially after the fruitful meeting in
Washington between the Governor of the Central Bank and the Governor of the Saudi Monetary Agency.

Review the printing of the Iraqi currency between the choice of the current paper currency and the polymer currency in terms of cost
And long-term security, especially as the Iraqi economy and daily financial transactions
Banking is heavily dependent on cash handling rather than price cards.

Prepare a working paper for the Conference on the Reconstruction of Free Zones organized by the terrorist organization to be organized in
Kuwait at the beginning of next year by a team specialized in the Central Bank of what can be achieved from the countries
Reconstruction and mechanisms to ensure the success of these projects.[/b]

https://cbi.iq/static/uploads/up/file-151116963925280.pdf

 

[steveh12]

Thanks Thug!!

Dumb it down for Me! 

[gregp]

Sweet mother money!

 

[Bakken]

Print more currency so they can sell more.  

[NEPatriotsFan1]

Hopefully it's the lower Denoms with Kurdish language on them that will be printed on polymer and hopefully this has already happened and this is just late news to keep speculators at bay..... and we hope it doesn't mean destroying the notes we have before they pay us good money to get them back 

[DinarThug]

11-21-2017   Newshound Guru Apmcrx  "Summary of the Annual Meetings Report of the International Monetary Fund and the Talks of the Credit Union (Third Round) and the visit of the Governor of the Central Bank to the UN Security Council"  

Quote:  "De La Rue’s two main rivals, Munich-based Giesecke & Devrient (G&D), and Oberthur Fiduciaire, a French firm, date back to the mid-19th century."    

IMO is really interesting that CBI mentions the banknote printers De La Rue and Oberthure...

[DinarThug]

Old money

Trust creates a high entry barrier into the industry. “Few firms can do what we do and those that can have a long history and established relationships with central-bank clients,” says Tim Cobbold, De La Rue’s chief executive. The business was founded in 1813. Portals, a firm it acquired in 1995, has an even longer heritage: it began supplying banknote paper to the Bank of England in 1724. De La Rue’s two main rivals, Munich-based Giesecke & Devrient (G&D), and Oberthur Fiduciaire, a French firm, date back to the mid-19th century.

De La Rue’s stock has recovered the ground it lost in 2010. Investors with one eye on the euro-zone crisis are aware that the firm has a proven ability to design, print and deliver brand new currencies against a tight deadline. Its accomplishment in supplying 1.75 billion new Iraqi banknotes, starting just two months after the country’s interim head called for a new currency, is especially notable. De La Rue’s plants in Britain, Kenya, Malta and Sri Lanka switched to a seven-day working week to meet the deadline, and the firm chartered 27 Boeing 747s to deliver the freshly printed banknotes. Countries that might need to conjure up a new currency quickly know who to call.

http://www.economist.com/node/21560275

[3n1]

1 hour ago, NEPatriotsFan1 said:

Hopefully it's the lower Denoms with Kurdish language on them that will be printed on polymer and hopefully this has already happened and this is just late news to keep speculators at bay..... and we hope it doesn't mean destroying the notes we have before they pay us good money to get them back 

 

Agree NEPF1 , when the cbi used to put out real details about the currency and banking not this watered down cbi news we get in the last few years which is usually just very bland matter of fact vague stuff,  the polymer notes with the 3 languages were spoken of in detail years ago before iraq ended the real cbi news  ..... IMO i believe currency exchanges will be very different inside and outside iraq when the time arrives ...cheers dv 

[gregp]

Thanks Thugs!

[NEPatriotsFan1]

55 minutes ago, 3n1 said:

 

Agree NEPF1 , when the cbi used to put out real details about the currency and banking not this watered down cbi news we get in the last few years which is usually just very bland matter of fact vague stuff,  the polymer notes with the 3 languages were spoken of in detail years ago before iraq ended the real cbi news  ..... IMO i believe currency exchanges will be very different inside and outside iraq when the time arrives ...cheers dv 

For sure! Good insight

[chinadawg]

Hopefully news about release from chapter 7 comes from these meetings soon,,,,,,,(my soon) not Iragi soon.

[boosterbglee]

Paper....polymer.....just get r done! 

[SocalDinar]

Report: 93% of Iraqi adults do not have bank accounts

 

November 22, 2017 at 2:47 pm | Published in: Iraq, Middle East, News

Iraqi Central Bank [Wikipedia]

 

November 22, 2017 at 2:47 pm

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As many as 93 per cent of Iraqi adults do not have a bank account, the country’s Central Bank said yesterday.

“The World Bank estimates for 2014 indicated that the number of deposit accounts for Iraqis to the number of adults is 11 per cent, meaning that 89 per cent of these adults do not have bank accounts but use cash to settle their transactions,” the bank said in its annual report 2016 issued on Monday.

According to the report, available data for 2015 and 2016 showed that this figure fell to 6.5 per cent and 6.8 per cent, respectively.

It pointed out that the decline is because a majority of the banks’ branches, or 37.8 per cent, were concentrated in the province of Baghdad in 2016, in addition to “the reluctance of many individuals to deal with banks for religious reasons”.

Moreover, the report pointed out that people prefer to save their cash than to use it in trading.

Read: ‘Daesh looted $835m from Iraqi banks’

“Citizens do not have confidence in government and private banks, so the vast majority prefer manual financial transactions without going through bank rings,” Abdul Hussein Jassim, a member of the Iraqi Stock Exchange told the Anadolu Agency.

“Some banks, especially private ones, have been exposed to major financial problems. They have been placed under guardianship by the Iraqi Central Bank and thousands of customers have not been able to withdraw their financial assets,” he added.

https://www.middleeastmonitor.com/20171122-report-93-of-iraqi-adults-do-not-have-bank-accounts/

 

[Synopsis]

1 hour ago, SocalDinar said:

As many as 93 per cent of Iraqi adults do not have a bank account, the country’s Central Bank said yesterday.

“The World Bank estimates for 2014 indicated that the number of deposit accounts for Iraqis to the number of adults is 11 per cent, meaning that 89 per cent of these adults do not have bank accounts but use cash to settle their transactions,” the bank said in its annual report 2016 issued on Monday.

 

Thank You, SocialDinar, for posting this and all the other Great Articles! 

 

WOWZERS!!! The Iraqis are discovering Crypto Currencies and are ramming their Iraqi Dinar into the likes of BitCoin instead of the Iraqi Banks!!!

 

              

 

Well, OK, I don't KNOW about all THAT but losing 4% of the adult population to banking accounts seems to be a reversal in the desired trend and much further away from getting the CHUNKAE' MONAE' off the streets unless................................................

 

The Iraqi Dinar is disappearing down the hole of Crypto Currencies. If so, who is holding the IQD notes used to get the Crypto Currencies???!!!

 

Well, OK, a little humor (maybe brain teaser) here to get the weekend started.

 

Enjoy Your Weekend Everybody!!!

 

Go Moola Nova!