The Recovery Of The Iraqi Dinar !

[DinarThug]

1 hour ago, Butifldrm said:

This is pretty interesting, Iraq's GDP today per capita and today, have more than doubled in 2 days.  

 

 

http://countrymeters.info/en/Iraq/economy

 

Iraq Economy

Iraq
Gdp and National debt

28-03-2018 07:03:45

$94 784 050 908	GDP this year (PPP)
$2 380	GDP this year per capita (annual $10 150)
$323 378 648	GDP today
$8	GDP today per capita
$33 375 573 948	Total National Debt (Public Debt Clock)
$838	Total National Debt per capita
$-398 338 812	National Debt this year
$1.00742	National Debt today

 

 

 

• Contact us

Iraq Economy

Iraq
Gdp and National debt

30-03-2018 16:28:30

$97 412 853 197	GDP this year (PPP)
$2 445	GDP this year per capita (annual $10 150)
$754 356 279	GDP today
$19	GDP today per capita
$33 364 526 161	Total National Debt (Public Debt Clock)
$838	Total National Debt per capita
$-409 386 599	National Debt this year
$1.00742	National Debt today

 

This is pretty interesting, Iraq's GDP today per capita and today, have more than doubled in 2 days.  

 

 

http://countrymeters.info/en/Iraq/economy

 

Iraq Economy

Iraq
Gdp and National debt

28-03-2018 07:03:45

$94 784 050 908  GDP this year (PPP) $2 380  GDP this year per capita (annual $10 150) $323 378 648  GDP today $8  GDP today per capita $33 375 573 948  Total National Debt (Public Debt Clock) $838  Total National Debt per capita $-398 338 812  National Debt this year $1.00742 

National Debt today

 

 

 

Contact us

Iraq Economy

Iraq
Gdp and National debt

30-03-2018 16:28:30

$97 412 853 197  GDP this year (PPP) $2 445  GDP this year per capita (annual $10 150) $754 356 279  GDP today $19  GDP today per capita $33 364 526 161  Total National Debt (Public Debt Clock) $838  Total National Debt per capita $-409 386 599  National Debt this year $1.00742  National Debt today

 

 

27 minutes ago, DropItLikeItsHot said:

Key words... Says it all.... monetary value Something is happening! The GDP Doubled!

Please more insight members!

 

LINK

The Iraqi Economy and Vision 2030 - Content and Challenges

 

29th March, 2018 by Dr. Hussein Ahmed Al Sarhan
The Government of Iraq has initiated the Vision 2030 program in collaboration with the World Bank and draws on its expertise in this regard. The World Bank noted on 29 November 2017 in a report that "Iraq was able during 2016-2017 to implement fundamental changes in the domestic regulatory framework in two main areas: the start of business, and access to credit.

Saroj Kumarjha, Regional Director, Mashreq Bank, said: "As part of the Vision 2030 program, I have embarked on supporting the Iraqi government's efforts to implement priority reforms that will enhance the business environment and achieve better growth and opportunities for all Iraqis. The Iraqi government on a fundamental reform agenda based on the General Government Framework Program (2014-2018), which places priority on institutional economic reforms and private sector development. "

In an interview with the Advisor to the Council of Ministers for Finance, Dr. Mazhar Mohammed Saleh said that the vision of 2030 aims to raise the contribution of the private sector in GDP to reach 45% or 50% through economic diversification (diversification of federal budget revenues and abandonment of the unilateral economy). It is known that this ratio is very low at present. Saleh also stressed that there are two things that the vision includes:

- Ensuring food security from local agricultural production,

- To spread the philosophy of small and medium enterprises in the business sector.

To achieve these two goals, Dr. Mohamed Saleh's appearance of the state's need for three strategic measures:

- The large state (many flaccid institutions) be transformed into a small state with its institutions and legislative frameworks.

- Creating market institutions through small companies, financed by oil revenues and partnership in financing the market between the state and the private sector, and small funds should be established for this purpose. The World Bank can transfer government debt funds to a credit fund.

- The third is the social protection of the market, through the strengthening of the social protection network.

These three measures require a participatory approach between the state and the private sector, or the so-called "financing partnership". And this approach is something new to the Iraqi economy as a philosophy of performance and practical action after decades of state domination of the economy, especially in the beginning of the seventies of the last century through a number of laws as the state took control of economic activity and allowed the private sector to be a partner of the public sector through Masmai (mixed sector) .

Although each country has its own political, security, economic and social conditions and works to develop a vision according to those circumstances, the 2030 vision for Iraq is not like that in the region. The challenges are large and complex and need a comprehensive work that tries to alleviate them so that the state institutions can perform their tasks according to the programs and goals that lead to the strategic goal of vision.

One of these challenges is that the Iraqi state - after decades of holistic and centralized approach to performance - has become at the door of a new phase and new patterns of performance it has never undertaken before. Here we refer to the financial advisor to the government that the Iraqi state with its institutions attract about (4.5) or (5) million employees out of 10 million of the workforce, and to secure their salaries the government had to borrow, which increased the internal public debt to be (50) trillion Iraqi Dinar. Therefore, the new phase requires legal frameworks facilitating the new performance patterns, which in turn requires a deep understanding of the state's legislative and executive institutions to strengthen coordination among them to develop these legal frameworks.

Another challenge is corruption and state control over its entire territory. And we mean that control is the force of law enforcement on the whole of its territory and without that force can not solve the problem of corruption and other problems hinder the implementation of economic measures, including trade and customs policies and others.

Another important challenge is the challenge of restoring stability, civil peace and community security. Overcoming this challenge needs to restore the infrastructure destroyed by terrorist groups, which have lost more than 45 billion dollars, according to Dr. appearance Mohammed Saleh.

On the level of the banking system, despite the confirmation of Mr. Kumaragha "Iraq has worked to improve access to credit information through the launch of credit registry managed by the Central Bank of Iraq, and from 1 January 2017, this included 234,967 clients and 4,877 borrowers And the ongoing work on the settlement of pensions and salaries, despite the ongoing work on the restructuring of the bank of good and Rafidain government, but the banking system in Iraq is still inhibiting any economic activity, especially for the private sector.

With regard to diversifying the revenues of the general budget and not relying on oil revenues, the main sectors are still operating and with serious indicators. Saleh said that the agricultural sector, which currently absorbs 21% of the labor force, contributes 4% of the gross domestic product, as well as the manufacturing sector, which includes 16% of the workforce, contributes 1% of GDP. The oil sector, which accounts for 4% of the labor force, contributes more than 50% of the GDP. These indicators reflect the deep problem of the Iraqi economy.

All these challenges are framed by the business climate and ease of doing business in Iraq. With very limited progress in this context, the current climate is making it difficult to do business, placing the country at the bottom of the list in terms of improving the business climate.

Therefore, we see the importance of continuing communication with international economic organizations and drawing on their expertise in this regard, including the World Bank, which has provided much effort and expertise to support Iraq in its reform and economic policies.

[DropItLikeItsHot]

21 minutes ago, DinarThug said:

The Iraqi Economy and Vision 2030

Great article Thug.... But this is a "Vision" a plan they want to implement now thru 2030....

It doesn't explain how the GDP can double over night. 

Edited March 30, 2018 by DropItLikeItsHot
spelling correction

[Gypsygirl11]

Great find BeautifulDream!  This is getting good.

[DinarThug]

8 minutes ago, DropItLikeItsHot said:

Great article Thug.... But this is a "Vision" a plan they want to implement now thru 2030....

It doesn't explain how the GDP can double over night. 

 

Maybe It’s Related To What’s About To Happen To It’s Currency !  

 

     

[blueskyline]

Thanks everyone.  I have a question . A few days ago was the article of the return of all items from the Regime of Saddam Hussein and People close to him . Could this and other items like the new report of increased oil amounts affect the GDP ???

 

[Butifldrm]

This is getting better every time I check.  The GDP per capita has now gone up $6 in less than 6 hours and GDP today went up 246 M.  I can't wait to check it tomorrow morning!

 

 

http://countrymeters.info/en/Iraq/economy

 

Iraq Economy

Iraq
Gdp and National debt

28-03-2018 07:03:45

$94 784 050 908	GDP this year (PPP)
$2 380	GDP this year per capita (annual $10 150)
$323 378 648	GDP today
$8	GDP today per capita
$33 375 573 948	Total National Debt (Public Debt Clock)
$838	Total National Debt per capita
$-398 338 812	National Debt this year
$1.00742	National Debt today

 

 

 

• Contact us

Iraq Economy

Iraq
Gdp and National debt

30-03-2018 16:28:30

 

 

 

 

$97 412 853 197	GDP this year (PPP)
$2 445	GDP this year per capita (annual $10 150)
$754 356 279	GDP today
$19	GDP today per capita
$33 364 526 161	Total National Debt (Public Debt Clock)
$838	Total National Debt per capita
$-409 386 599	National Debt this year
$1.00742	National Debt today

 

 

 

http://countrymeters.info/en/Iraq/economy

 

 

 

 

 

• 

  Iraq Economy

  Iraq
  Gdp and National debt

  30-03-2018 21:51:03

  $97 659 010 029	GDP this year (PPP)
  $2 452	GDP this year per capita (annual $10 150)
  $1 000 513 111	GDP today
  $25	GDP today per capita
  $33 363 491 664	Total National Debt (Public Debt Clock)
  $838	Total National Debt per capita
  $-410 421 096	National Debt this year
  $1.00742	National Debt today

 

[NEPatriotsFan1]

Thx Butifldrm

[DinarThug]

2 hours ago, Butifldrm said:

This is getting better every time I check.  The GDP per capita has now gone up $6 in less than 6 hours and GDP today went up 246 M.  I can't wait to check it tomorrow morning!

 

Yo Snap - This Might Finally Be The Little Blue Pill To Raise The Dead !  

 

     

 

 

 

Great Find Buti - Ur Killin’ It !

[DropItLikeItsHot]

Hate to be a down'er but after checking the site

http://countrymeters.info/en/Iraq/economy

I wasn't aware that the stats are a moving clock that resets daily....

The later in the day you check it the more the numbers get inflated!

Excited over nothing....

Hey Clown you got anymore Blue Pills..... need some excitement this morning!!! 

[ChuckFinley]

1 hour ago, DropItLikeItsHot said:

Hate to be a down'er but after checking the site

http://countrymeters.info/en/Iraq/economy

I wasn't aware that the stats are a moving clock that resets daily....

The later in the day you check it the more the numbers get inflated!

Excited over nothing....

Hey Clown you got anymore Blue Pills..... need some excitement this morning!!! 

Hey DILIH, I see no one is sleeping much today.  

[skeetdog]

Thanks DT...The GDP is nothing more than a measuring pole for general economics...There are so many factors that are adjusted by the 'running information'....that it has to be a live floating factor...as developing information is calculated on an hourly bases...these numbers interact to generate data that indicate potential market shifts...that are used again to caluated market fluctuations to achieve adjusted factors that will continually effect the general GDP reading...So yea...keep checking that and let us know how that works out for ya...might be there awhile...

[Butifldrm]

3 hours ago, DropItLikeItsHot said:

Hate to be a down'er but after checking the site

http://countrymeters.info/en/Iraq/economy

I wasn't aware that the stats are a moving clock that resets daily....

The later in the day you check it the more the numbers get inflated!

Excited over nothing....

Hey Clown you got anymore Blue Pills..... need some excitement this morning!!! 

 

DHL you are so right, Dah me. I was soooo excited.

[skeetdog]

2 hours ago, skeetdog said:

Thanks DT...The GDP is nothing more than a measuring pole for general economics...There are so many factors that are adjusted by the 'running information'....that it has to be a live floating factor...as developing information is calculated on an hourly bases...these numbers interact to generate data that indicate potential market shifts...that are used again to caluated market fluctuations to achieve adjusted factors that will continually effect the general GDP reading...So yea...keep checking that and let us know how that works out for ya...might be there awhile...

.....I wasn't trying to be a smartazz...after rereading my post...it comes off that way...What my intentions was that....some information data entered to achieve the final results....are entered on a quarterly bases...

 

37 minutes ago, Butifldrm said:

 

DHL you are so right, Dah me. I was soooo excited.

....I appreciate everything you do...and try to follow your post...

[davis411]

7 hours ago, DinarThug said:

 

Yo Snap - This Might Finally Be The Little Blue Pill To Raise The Dead !  

 

     

 

 

 

Great Find Buti - Ur Killin’ It !

No rv 

can I borrow some blue pills

need 8

[DropItLikeItsHot]

2 hours ago, Butifldrm said:

DHL you are so right, Dah me. I was soooo excited

You and me both, could have been the beers, wine + Jim Beam I had last night!

[siberian_shaddow]

53 minutes ago, davis411 said:

No rv 

can I borrow some blue pills

need 8

I want some blue pills with little clown faces on them from Thugs that would be the good stuff. 😀

[DinarThug]

22 hours ago, DinarThug said:

Here’s The Original Post To Start This Thread Followed By Today’s Article With The CBI Governor Appearing With The Author At Nusairi’s Book Signing !  

The recovery of the Iraqi dinar
 

 

20th February, 2018
Samir Nusairi

After great efforts and exceptional by the Central Bank of Iraq during the past two years in the development of monetary policy tools and the specific procedures of the specialized departments in the Central Bank and direct supervision of the banking sector and its assessment and classification in accordance with international standards in addition to the internal banking operations of banks, which was supporting the implementation of the plans of the Central Bank contributed a large contribution In the recovery of the Iraqi dinar in comparison with the exchange rate of the US dollar, which was one of the main reasons for the new regulatory procedures used to regulate the process of selling the window and determine the last beneficiary and the size of d T middlemen and speculators in addition to the banks commitment and cooperation with the Central Bank of the supporting and coordinating role played by the Iraqi private banks association and urged the departments of banks on the need to support system' target='_blank' style=" rel="">support system" rel="">support the directives of the Central Bank in the service of the national economy and harnessing the potential of private banks in the central purpose of which is to work on the recovery of the Iraqi dinar And raise the value of cash and purchasing against the US dollar. 

It pleases the Iraqi public and strengthens the economic situation and achieve financial and monetary stability. What is important is to work on the continuation of the state of recovery and to take advantage of the economic and investment openness from the countries of the world to Iraq, and especially achieved at the donor countries conference in Kuwait.

 

 

LINK

Baghdad International Book Fair witnessed the signing of the book (the Central Bank of Iraq in the face of economic and financial challenges) to Samir Nasiri

 

 

30th March, 2018

The events of the second day of the book fair, which is held on the ground of the Baghdad International Fair, witnessed a workshop to discuss the book of the Central Bank of Iraq in the face of the challenges of the economic and financial crisis of the economic expert and banking Samir Abbas Nusairi.

The session was chaired by the Dean of the College of Information at the University of Baghdad, Dr. Hashim Hassan Al-Tamimi, who spoke about the history of Iraq's cultural history and interest in culture and reading in Iraqi society in general.

Al-Tamimi added that the Association of Private Banks has provided many cultural initiatives, including supporting and sponsoring the Baghdad International Book Fair and the project of Baghdad to develop 20 theaters in Baghdad. He pointed out that the book of the Central Bank of Iraq in the face of economic and financial challenges for writer and economic expert Samir Nusairi is a door to know the importance of the Iraqi economy And ways to develop it.

On the other hand, the author of the book "The Central Bank of Iraq in the face of economic and financial challenges," his thanks and appreciation to the Governor of the Central Bank of Iraq Ali Alalak, to sponsor the economic culture in Iraq.

Al-Nusairi explained his book to the attendees, which talks about the period 2015-2017 and what has happened to the world in general and Iraq in particular from the economic crisis and the great role played by the Central Bank in the face of the crisis. He pointed out that the book document objectively and neutral to the stage of economic advancement witnessed by Iraq, which contributed to the Central Bank of Iraq and other economic bodies.

Al-Nusairi noted that the book confirms the situation and an important phenomenon and highlights the bright points that passed through Iraq, which was one of the experience of the Central Bank of Iraq.

Al-Nasiri added that the researcher will find the facts and the transparency of the Central Bank in leading and implementing monetary policy for the transition from the war on terror to peace, construction and development, in addition to taking measures and developing a strategy according to international standards on compliance, transparency and disclosure.

For his part, the Governor of the Central Bank, Ali Al-Aalak, said during the signing ceremony that the phenomenon of interaction with the book fair that we are witnessing today is a sign that Iraq is still alive and is still interested in culture in all its aspects.

The Governor pointed out that the participation of the banking sector in the exhibition, the first of its kind is a good indicator and came in line with what banks offer to the community of services and stimulate the central bank to interact with the community.

The governor stressed that Nasiri and what he achieved in his book came as a result of his follow-up and interest in economic affairs and his proximity to the banking sector, noting that the Central Bank of Iraq were an incentive and contributed in the preparation of the book, which highlighted what he sees on the ground and what he hears and rumor in the circles about the work of the Central Bank,

He called on the attention to economic culture by professors and interested in economic affairs and the need to communicate with the Central Bank of Iraq for the purpose of showing the correct image of his work in all transparency and clarity.

Al-Alak called on everyone to read the periods that the Central Bank has passed carefully and carefully, and its strategy to face the crises and challenges in addition to the initiatives launched by the Central Bank to prevent the collapse of the Iraqi dinar

 

 

 

 

amir Al Nusairi *: The Iraqi banking sector challenges and opportunities for reform

 

SAMIR NUSAIRI

- PUBLISHED ON 30/03/2018

an introduction
 
The Iraqi banking sector is the main link in the series of episodes of the Iraqi economy. The problems of the Iraqi economy are many and complex. The central administration of the economy, in addition to the economic instability and the special security situation that Iraq is going through during the years 2003 to the present, which led to the creation of real obstacles to attempts to reform banking. The current liquidity of banks helps to explain this problem, which is the inability to grant cash credit to customers and investment projects in various economic sectors 
In spite of this, the Iraqi banking sector has undertaken its own efforts under the supervision of the Central Bank to carry out its tasks in providing its services to the public according to the available administrative, banking and technical capabilities. However, its contribution to economic development was limited due to facing challenges, problems and obstacles for objective and subjective reasons, most notably the decline in oil prices and the suffocating economic crisis. It has Iraq, the war on terror, the economic recession and the low economic growth rate to less than 1 with water in 2015 and 2016. The main challenges can be identified in the following section:

 

To continue reading JRGA download the PDF file is easy to print. Click the link below

Samir Al-Nusairi - Iraqi Banking Sector - Editor

 

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

 

Bank Banking *: The textbook describes challenges and opportunities for reform
 
an introduction
 
 And that, the banking sector is the main link in the series of economic cycles and there is a tangle between the mechanisms and requirements of building, the problems of the economy of the East and many complex
 ) Of the Constitution 25 (as indicated by the article, the introductions to the transition to the market economy, and between the legislation and controls and instructions and determinants of the central administration of the economy, Alaraki addition to the lack of economic uncertainty and the security situation of the special passage to the present time, which led to the creation of real obstacles to 2003 Attempts During the years of the banking reform In spite of this, the banking sector of Al-Araqi has undertaken its own efforts and under the Central Bank to carry out its tasks in providing its services to the public according to the available administrative, banking and technical capabilities, but its contribution to economic development is limited due to HTH challenges and problems and obstacles to the causes of objective and subjective notably the decline in oil prices and the economic crisis stifling suffered Arq and the war on terrorism and recession 2015% in 1 economic decline in the growth rate of the economy to below. It can identify the main challenges in the following topic: 2016 and

The first topic: The reality of the banking sector
 
The structure of the banking system in Al-Arak:
 
 
The structure consists of (7) working banks, of which (72) the banking system of the Central Bank of Egypt and 503 government banks (including 65 bank branches outside the neighborhood and 8)

 Special

 A total of (8 branches of Arab and foreign banks), 12 Islamic banks and 25 commercial banks, all of which (65 of them with the knowledge that there are several other branches outside Al-Areeq 5) have fled to work soon as Islamic banks granted by the Central Bank. The density of a thousand people for each bank branch and measuring 35 banking in the neighborhood
 
In some countries, there are between (people and in other countries) a thousand people for each bank branch. 10 Percentage by
 
Second: - The development of the total financial indicators: 20. To what comes
 
2 - Total assets (financial position) (1 21) About 0.7 trillion dinars and a decrease of (%) of the total assets.
 
 
 -2015 Table of economic indicators of banks operating in the region for the year 2016 () million dinars

Department of Statistics and Research, the source of the Central Bank of Iraq
 
 (1.3%) of the total capital, 19 trillion dinars at the government banks, and (2) the total capital of the private banks. The total deposits of the private banks amounted to JD3.4 trillion, a decrease of 15.3%, and a decrease of 15%
2016 2015 Details Ratio of change 2.7 29,849,818 29,077,603 Cash credit to government banks 4,5 7,330,305 7,675,083 Cash credit to private banks 1,2 37,180,123 36,752,686 Total cash credit 22,5 23,413,023 30,225,821 Credit to government banks -4.3 9,868,584 10,307,333 Contractual credit For the private banks 17,9 33,281,607 40,533,154 Total contractual credit 0.0 2,251,600 2,251,600 Capital of government banks 20,2 9,487,681 7,896,298 Share capital for private banks 15,7,739,281 10,147,898 Total capital reserve -2,6 53,806,578 55,230,846 Total deposits to government banks -5.7 8,592,155 9,113,215 Total deposits to private banks 3,0 62,398,733 64,344,061 Total deposits Total assets For government banks 200,537,344 197,603,949 1.5 - 1.5 - 23580581 22,233,487 Total assets of private banks 0.7 - 221,184,530 222,770,831 Total assets

(2016 - 2012) The growth rate of the financial indicators of the banking sector for the years (trillion dinars) )
 
Source: Central Bank of Iraq, Department of Statistics and Research.
 
The second topic: the diagnostic and analytical challenges of the general situation of the economy through the consideration of the next five years and the difficult economic conditions experienced by the current age. We noticed that this has directly affected the financial and banking sector, which made the aggravation of structural imbalance in the economy useless. Face with superficial and ineffective policies and regulations, but rather to develop policies
                                                   Standard unit of cash credit billion dinars

Standard unit of cash credit billion dinars. 1
 Growth rate 2016 2015 2014 2013 2012 Details 98% 11.7 10 9 7.7 5.9 Financial assets 15.7 221 222.7 226.6 208.8 190.9 Assets 154 62.3 64.3 67.8 49.8 24.5 Deposits 77.8 37 36.7 34 23.6 20.8 1 Cash 9.8 1068 1036 1024 1030 972 Branches No.

Economic strategy that is characterized by short-, medium- and long-term linkages. This enables us to identify the most important challenges facing the banking system as follows:
 
 First, the post-events banking system, Salahuddin, Anbar, gangs calling on three provinces, Nineveh because of the large control in addition to the important parts of the province of Diyala, has resulted in this occupation, (Branch 121 karaba) Which is affiliated with the Central Bank with government and private banks, including the Fur branch
 
 In the province of Nineveh, the protection of the country distributed as follows:
 
The financial resources of the branches seized by the Daash - The number of branches of banks that have seized gangs calling on their monetary and non-monetary assets (branch 121 and located in the provinces above)
 Which is affiliated to the government banks, including the Central Bank branch (Mosul) and distributed as follows:
 
The Central Bank of Iraq is one branch branch of Mosul Branch 41 Bank of the Irvine
 Branch 17 Al Rasheed Bank
 Branch 22 Cooperative Agricultural Bank
 Branch of 3 Real Estate Bank Al - Araqi Bank for Trade One branch (Tikrit branch) Branch 48 Total
 
- The number of branches of private banks seized by gangs in the areas of extractor 2 (branch 37) 2014 with him
 Distributed as shown below:

Bank Name Number of Branches 3 Middle East 5 Economy 2 Gulf 1 Tigris and Alvart 1 Al Ahli Al Araqi 12 Mosul 5 Baghdad 2 North 2 Ashur 4 Al Araqi Islamic 37 

Total Central Bank Advisor / Source: Central Bank of Iraq Walid Aidi Abdul Nabi
 
Second: The suffering of the banking sector in particular, especially the private banks in all areas of banking activity, is characterized by poor government support, despite the fact that several issues have already been issued to the Economic Affairs Committee of the Council of Ministers stressing the need to support banks, Feasibility due to poor follow-up by the authorities responsible for the implementation of the following:
 
 A - The establishment of the balance of finance obligates all departments of the state to accept the ratified instruments issued by private banks.

B - The Commercial Bank of Iraq to open lines of credit with private banks and banks. Central Bank of Egypt 

c - Emphasize the activation of the role of the Financial Court as stipulated by the Banking Law and in accordance with the law and not to resort to other courts. Of the Central Bank of Egypt Law on the possibility of benefiting from the legal reserve against the establishment by the Central Bank of the Special Banks of loans of investments from the reserves, The Committee for Economic Affairs, which is responsible for the implementation of the financial plan and the Central Bank of Egypt, has affirmed the 30-year limit on the opening of documentary credits at private banks for up to one million dirhams at the Al-Araqi Trading Bank.

F- Each of the banks of the depositors and the Rashid to deposit part of their funds with the private banks in exchange for the benefits of the facilitator that the private banks to invest the funds in the projects economic feasibility and specific mechanisms and guarantees. Investment in accordance with the

D - Urging private banks to find partnerships with international banks for the purpose of enhancing the developmental role of the country and create investment opportunities and manpower.
 
 The share of the credit and contractual credit granted to the gross domestic product (GDP) is estimated to be only 3%, while in the regional countries (the Middle East and North Africa is 65%). In the past years, only about 1,000 small and medium-sized enterprises registered with the Corporate Registration Department have received more than 68% of bank financing. This means that the banking sector will not affect economic development and rebuild the national economy, which serves the market economy. A shortage according to the World Bank / Annual Report on the overall financial situation in Iraq.

Fourthly: Non-activation of financial institutions supporting the banking business as a deposit guarantee company. It is a system to ensure deposit-attracting institutions and guarantee customer rights. The Central Bank of Qatar, which is a mixed company for the year 2003, obtained the approval of the Council of Ministers for the participation of government and private banks. The company is currently engaged in 86% of the total deposits of the sector and determining the contribution of government banks as they acquire the bank.
 
Fifth: The inability of the banking sector to possess the capabilities and potentials and technical and technical infrastructure in the management of investment portfolios and catch up on the banking development in neighboring countries, which made the customer looks at our banks backward and unable to provide the best services developed for him, which led to their reluctance to Dealing with the banking sector, as well as the confidence has been shaken in the recent period because of the inability of some troubled banks to meet withdrawals of customers from their deposits, which led to a decline in deposit rates in most banks in varying degrees, which will affect the possibility of financing banks during this Of.
 
 
Sixth: Internal remittances: Large-scale transactions are carried out by a large parallel bank represented by a bank in all governorates (1800 or foreign, banking, cash transfer). The number of these amounts is outside the official framework and results in huge commissions under weak or limited control. A difficult environment for the government and private banking sector and led to speculation in the foreign currency market, which affected the policy of the Central Bank in maintaining the exchange rate of the dinar

The money market and the management and the other, which left its plans in the foreign exchange against foreign currencies between the period and maintain its balance.
 
A: VII Complex tax laws that are not commensurate with the policies of support and economic reform that the government must provide to the banking sector. Eighth: (3.3) The customers' debts resulted in bad debts of up to 2016/12/31 trillion dinars, as banks are able to recover them. In addition, banks have encountered great difficulties in implementing judicial decisions because of threats against borrowers. Banks to recover their deposits with banks and banks in the province of Kurdistan, amounting to (trillion dinars) for reasons related to the financial crisis suffered by the inflection.To address this, the Board of Directors of all banks to allocate land to the Central Bank to issue a percentage of its profits 45 ADAR to deal with bad debts and all losses .
 
Ninth: Stop most banks practicing dealing with most banks correspondent banks, which stopped the activity of external banking (Documentary credits and remittances).
 
Ashar: Due to the country's economic recession and the stifling financial crisis, share prices fell in the financial markets and the shares of these banks fell below the market price of most of the banks. 75 Nominal share by
 
Eleven: A strategy for the development of micro and small enterprises activating the government role in building the medium and developing and building clear mechanisms in which the private sector can participate effectively so that it can be transformed from a governmental sector to a main partner and then to a market leader.

The third topic: the methodology of banking reform in the era
 
  To date, the economy has suffered greatly from the lack of strategic planning and the fragmentation of policies in the management of the economy and its various sectors, which has led to a weak contribution to GDP and the focus on oil as the main supplier of the state budget. Therefore, the Eastern economy was one man, in addition to the external economic conditions, including the lack of criticism of oil prices and the rise and return of the effects of the global economic recession and the decline in economic growth rates in most of the world. 1 All this indicates specifically since the year that we do not have a clear economic approach 4 and the existence of a structural imbalance of 95% of the total resources in the economy because of the dependence on oil mainly as a form of the Constitution and the budget and non-diversification of sources of national income, Calls for support of the private sector is implemented or not? Are sectorial strategies in agriculture, industry, services and education already operational? Therefore, we need to plan and establish new foundations for building the national economy based on scientific analysis and accurate diagnosis, professional and professional management of the economy and in particular we need a new methodology for banking reform in line with the visions of the Central Bank's strategy for the coming years as follows:
 
First, the financial analysis of the financial position of the banks and the expected years of the Central Bank and the Ministry of Finance (and determine the actual need for liquidity to sustain 2017-2019)trading in the money market through the application of pressure tests and stimulate the economic cycle in all areas and the development of a proactive plan to prevent bankruptcy and the collapse of some banks and Wheel economy

Second: Activate the role of government banks, specialized banks and private banks to provide soft loans to the national private sector, as well as find solutions to the problems of taxpayers and the accumulated benefits that accrue to the owners of projects that are suspended from production.
 
III. Setting up a short and medium-term fiscal policy The proactive, retrospective and evaluation monitoring will be based on continuous coordination between the fiscal and monetary policies and the development of operational mechanisms in this area.
 
4- Updating the instructions and the executive regulations and guidelines for the implementation of monetary policy in accordance with international standards and setting up a proactive and accurate monitoring system to follow up implementation, in particular regarding the external transfer and the currency window supervised by the Central Bank of Sharjah in respect of foreign transfer and documentary credits. And here we propose the establishment of a foreign trade bank to carry out the implementation of the private sector tourism platform, which must be prepared and the balance of trade and follow up its implementation in light of the actual consumption needs.
 
Fifth: Securing the legal and technical requirements for a large-scale twinning between state banks and private banks on the one hand and among international banks on the other with the aim of developing and modernizing the banking payments system and organizing financial and monetary transactions according to the latest electronic banking systems in the world.
 
Sixth: Revaluation, evaluation and reclassification of banks in accordance with the standards of efficiency of performance and activity by adopting international standards based on the process of auditing and evaluation of international neutral accounting institutions accredited and under the reference of the Central Bank.

Seventh: The Central Bank has prepared an analytical study to review the reality of the banks in the light of the results of its operations until the year 2015 and to take the crucial decisions of its structure and the integration of small banks with weak and large banks in order to develop and develop the private banking sector. The banking integration should be specific in terms of means and means to address the problems and impediments of the banking sector and move it from the role of banking to the developmental role.
 
Eighth: The structure of bank financing is subject to many failures and obstacles. In order to increase the credit and total financing of banks and to activate their contribution to the various aspects of investment, we see as a serious step in the economic development of the country and to move the role and reconstruction and to activate and maximize the financing of small and medium enterprises Social and economic cooperation and effective monitoring in this regard is a special priority and urgent and that the Central Bank of Iraq role to take the development and initiative of the initiative.
 
Ninth: Amending the banking legislation in Al-Arik, which regulates the banking work for the advancement of the banking sector in particular, the Central Bank Law No. (2004) and the Banking Law (2004) No. 94 of 1997 and the Companies Registration Law, And the activation of the Money Laundering Law No. 2006 for the year 13 and the Investment Law and its amendments No. A committee has been formed by the Central Bank, which has prepared more than a page of the new instructions for the implementation of the Banking Law as well as Law No. 2015. 43 Islamic Banks No. Asharqah, Small businesses To help create new job opportunities, to reduce poverty and destitution, to contribute to economic and social development plans and to reduce unemployment rates 28%, which exceeded% and issue the law of guarantee deposits and loans and the establishment of companies concerned.

11- Activate the government role in building a strategy for the development of micro, small and medium enterprises and developing and building clear mechanisms in which the private sector can participate effectively so that it can be transformed from a governmental sector to a main partner and then to a market leader.
 
(*) Economic and banking consultant for the private banks of Al-Arqiya.
 Copyright © The Economists Network. Re-publication permitted provided reference to source 2018 March 30. http://iraqieconomists.net/en/

link

[DinarThug]

4 hours ago, siberian_shaddow said:

I want some blue pills with little clown faces on them from Thugs that would be the good stuff. 😀

 

The Only Side Effect With The Clown Pills Is That They Also Create Additional Massive Swelling In The Feet !  

 

 

So Just Let Me Know If U Need To Borrow An Extra Pair Of ‘Kicks And Some Makeup ...

 

     

[DinarThug]

LINK

Is it time to delete three zeros from the currency ?

 

 

3rd April, 2018

The central bank submitted a project to delete three zeros of the currency, in order to confront inflation and stimulate the economy, but was forced to stop because of the deteriorating security and political situation in the country.

The governor of the Central Bank, Ali al-Alaq, in a discussion session with the editors of a number of Iraqi media, including "Economy News", "The subject of deleting zeros from the currency is ready, but it needs an environment suitable to apply," noting that " To prevent manipulation and fraud by the owners of weak souls. "

The central government stands with the central bank's draft to delete three zeros of the currency, because it sees it "hurt the efficiency of the system of cash payments," according to the financial adviser to the prime minister.

He added, the appearance of Mohammed Saleh, in an interview, "the economy News," that "the current environment suitable for this project because there is financial and political stability witnessed by the country, especially after the salvation of the organization (da'ash)."

He stressed the need not to rely on the project to support the Iraqi dinar, but "focus on the creation of all conditions that would support the Iraqi dinar and represented by political and economic stability," pointing out that "the central bank has accumulated experience in dealing with the subject."

The economist said, in the name of Jamil Anton, for "Economy News", "The current environment is not suitable for the project to delete the zeros at the moment, because the security situation has not settled so far in the ideal form."

He pointed out that "the project needs educational campaigns to be accepted by citizens and does not affect the movement of the market," noting that "the project has the benefits of reducing the amount of money used in deposits, which helps accountants not to fall in error in dealing with zeros in large amounts, As well as reduce the number of trustees funds and protect money from theft. "

Antoine predicted that the project would be implemented after the legislative elections scheduled for next May.

[2fast4u2c]

Sounds like they are ready to launch education...

[NEPatriotsFan1]

7 minutes ago, DinarThug said:

current environment suitable

Is it a suitable environment or environment suitable? I’m confused🤨

 

Who cares?  Just push the d@mn button!!!!!! 

 

[Pitcher]

That’s funny.  I was thinking the same thing.  Maybe they will RV noos

[10 YEARS LATER]

IQD STILL on life support- ain’t no recovery yet. Of course over there they say whatever they want. Doesn’t make it so. Fantasy Land Iraqi Style-better to live a dream than face the reality ?

 

Im sure the people would mightily disagree. 

[NEPatriotsFan1]

1 hour ago, Pitcher said:

That’s funny.  I was thinking the same thing.  Maybe they will RV noos

Pitcher I see what you did there!  TNAILLRB 

[DinarThug]

4 minutes ago, NEPatriotsFan1 said:

TNAILLRB

 

Wtf - Can I Buy A ‘LEWOV’ !  

  (Hint: Read It Guru Style - Backwards)