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

Jump to content
  • CRYPTO REWARDS!

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

The Recovery Of The Iraqi Dinar !


DinarThug
 Share

Recommended Posts

1 hour ago, DinarThug said:

 

Here’s A Highlighted One ...

 

 

 

Intensive preparations for the Financial Inclusion Week


17/4/2018 12:00 am 

 

On the occasion of his Arab day 

Baghdad / Hussein Thugb 

Financial inclusion is an inevitable necessity in a country that seeks to expand economic activity through its productive and service paths and to create an advanced banking system that provides services to all members of society and benefits them in support system" rel="">support of development. 

 

Economic development. 

Financial inclusion means introducing or merging groups that are called financially marginalized or low-income people who are not allowed to engage in banking system operations by dealing with the banking system through the mobile digital business system, ie, completing all electronic transactions  electronically. 

Infrastructure Development Director General of Payments at the Central Bank of Iraq, said: "The Central Bank seeks to develop the financial and banking sector through the development of infrastructure that enable financial and banking institutions to improve services and accessibility by all segments of society

"Pointing out that" In this context , attention week financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical contribution to the banking education services, particularly for women comes, as well as the segment of students , whether schools or universities who are actors to spread the culture and the fight against illiteracy tools bank. " 

She added That "the expansion of this subject among the community to educate them the positive effects of financial coverage of their lives, as well as prepare them to manage their financial life in the initial stages of starting them in any area may work in the future,"asserting " Data periodically semi - annual and considered as the year 2016 is the base year in order to monitor the performance of two banks and providers of payment services fee and financial inclusion strategy
, Which will be the launch of the main determinants and the Supreme Committee for Financial Inclusion is set up in conjunction with this event (the Arab Week of Financial Inclusion  )  

Best International Practices

The Central Bank of Iraq considers the active partnership with the private sector to be the most important elements of success. This comes with the support system" rel="">support of banks and electronic payment service providers through legislation that regulates their work and gives them sufficient flexibility to develop their business according to international best practices and involve them as key members of the National Payments Council and the Supreme Committee for Financial Inclusion. She pointed out that "the important steps taken by the Central Bank in the establishment of workshops in a number of universities and contribute to dialogues and seminars and most recently participate in the Baghdad International Book Fair and contribute to the seminars held during which by the Governor of the Central Bank and a number of general managers and each according to its competence, One of these sessions was devoted to the issue of financial inclusion in Iraq. " 

Free banking services

Director of Management and Training in the Association of Private Banks Ahmed Al Hashemi said: "Iraq is one of the countries that need awareness and education programs in this important chapter, which has become effective internationally, pointing out that" the week of financial coverage, which is preparing for him, a number of events adopted by banks and progress "The various products that will be offered are designed to benefit the citizen, as the products offer opportunities to obtain a loan for low income families, while encouraging the activation of deposits transfer of money buried in homes to The banking system and make them supportive of the process of activating the national economy. " 

Financial Inclusion Department

He stressed that "the nominal goal to encourage Iraqi banks to be an effective starting point to achieve this trend, considering that a large proportion of society outside the circle of financial inclusion," noting that "the week of financial inclusion witnessed the presentation of animated films showing the importance of saving and the distribution of stories and discoveries in order to create a culture of savings "The week will work to educate citizens about the importance of the subject of electronic cards, which will be all the requirements of the human through them and the advantages of positive and it saves money, and does not expose them to any risks, and this subject reduces the process of money laundering , Because my work The movement of the funds will be followed closely by the concerned authorities  . " 

Electronic payment companies

Al Hashimi said that "financial coverage targets all cities with banking branches, where citizens are encouraged to enter the banking system to expand their products, and we encourage electronic payment companies to provide almost free services to encourage the localization of salaries. "We have to catch up with global developments, and we are working on this direction with great seriousness and we base the efforts of the Central Bank in this  direction," he said

link

 

Mr. Thug,

Thank you for all your work and especially the highlights.

After so many years and so many articles we're starting to see, Bla, Bla, Bla, Bla, Bla, Bla, Bla without them.

Thanks again and good day, Sir.

  • Haha 4
  • Upvote 4
Link to comment
Share on other sites

Climber, Pokerplayer posted the article in othet thread with april 27 as the date for financial inclusion. You asked why? This is an eduaction...where people are going to be depositing their higher notes (chunky cash out of their mattresses)...when the CBI turn the switch on thereafter, it will be a smooth process and hustle free...people will be withdrawing lower denoms with purchasing power (rv)...and no more higher notes. 

  • Like 2
  • Haha 1
  • Upvote 6
Link to comment
Share on other sites

1 minute ago, navira45 said:

Climber, Pokerplayer posted the article in othet thread with april 27 as the date for financial inclusion. You asked why? This is an eduaction...where people are going to be depositing their higher notes (chunky cash out of their mattresses)...when the CBI turn the switch on thereafter, it will be a smooth process and hustle free...people will be withdrawing lower denoms with purchasing power (rv)...and no more higher notes. 

 

That sure sounds good... Let's hope so!

 

B/A

  • Upvote 3
Link to comment
Share on other sites

38 minutes ago, navira45 said:

Climber, Pokerplayer posted the article in othet thread with april 27 as the date for financial inclusion. You asked why? This is an eduaction...where people are going to be depositing their higher notes (chunky cash out of their mattresses)...when the CBI turn the switch on thereafter, it will be a smooth process and hustle free...people will be withdrawing lower denoms with purchasing power (rv)...and no more higher notes. 

 

So people will be immediately educated on the day of financial inclusion, run to the bank with their mattress money and commence to depositing it into bank accounts?

 

And the RV could happen next week?  :huh:

 

 

 

 

Edited by Floridian
  • Haha 2
  • Upvote 1
Link to comment
Share on other sites

25 minutes ago, navira45 said:

Guys, i wanna clarify something. The rv may happen next week prior to this financial inclusion...then people will just be depositing their chunky cash that day and take out lower denoms. Big smile

Sounds like a guru, walks like a guru. I'm not buying it.

  • Thanks 2
  • Haha 4
  • Confused 2
  • Upvote 1
  • Downvote 2
Link to comment
Share on other sites

https://cbi.iq/news/view/674

The Central Bank decides to save data for electronic payment companies and processing them inside Iraq

 
April 17, 2018

The Central Bank decides to save data for electronic payment companies and processing them inside Iraq
 

In light of the strategic plan of the Central Bank of Iraq to regulate electronic payment
activities towards competition and non-monopoly and the transfer of foreign expertise
to Iraq and to achieve the goal we aspired to, the bank decided to "be processing and
keeping data on electronic payments within Iraq."

The bank explained that three local companies were licensed to provide electronic
payment services in which data is processed for all customers in the data centers which
are still in Iraq, and that there are other companies in the process of obtaining licenses
from the relevant parties and the existence of requests from several international companies
to open branches In Iraq to ensure that all processing and conservation operations within
their centers inside Iraq exclusively.

The Central Bank explained that in the case of the desire of foreign companies that will be
licensed to work in Iraq to participate with local e-payment companies, the participation
rate must not be less than 51% for the benefit of the local entity

 

 

#########################

 

 

LINK

Central: Save data to electronic payment companies and
processing will be inside Iraq

اÙÙرÙزÙ: Ø­Ùظ اÙبÙاÙات ÙشرÙات اÙدÙع اÙاÙÙترÙÙÙ ÙÙعاÙجتÙا ستÙÙ٠داخ٠اÙعراÙ

 

17th April, 2018

The central bank announced on Tuesday that the data storage and processing of electronic
payment companies will be inside Iraq.  
"In the light of the strategic plan of the Central
Bank of Iraq to regulate electronic payment 
activities towards competition and non-monopoly
and the transfer of foreign expertise to Iraq and to achieve the goal we aspire, it was decided
to be processing and archiving data for electronic payment operations Inside Iraq ". 
He
explained that "the bank has licensed three local companies to provide electronic payment
services, where processing data for all customers in their data centers inside Iraq so far." 

 
The statement added that "there are other companies in the process of obtaining licenses
from the relevant authorities and the existence of requests from several foreign companies to
open global branches in Iraq to work on all the processing and conservation within their 

centers inside Iraq exclusively." 


The Central Bank said that "in the case of the desire of foreign companies that will be
licensed to work in Iraq to participate with local payment companies existing locally, the
participation rate should not be less than 51% for the benefit of the local entity."

  • Upvote 6
Link to comment
Share on other sites

The Central Bank issues instructions and standards for circulation and replacement of banknotes

 
Economy ,  2018/04/17 10:08 
 

BAGHDAD, Iraq -

The Central Bank of Iraq issued a statement clarifying the terms of the non-negotiable banknotes which are compensated after depositing them in the bank.

According to the statement published by the Central Bank, "the banknotes are not valid for trading if one of the descriptions apply and compensates the holder of their full value immediately submitted to the banks and government and private branches are deposited in the Central Bank and the corresponding amount in their accounts."

The bank said that "one of the conditions of banknotes that are not valid for trading is if the banknotes are worn or damaged, although not torn and not lost part of it, in addition to if damaged paper as a result of exposure to water."

He added that the banknote will be invalid if the banknote is composed of two different parts figures.

The bank pointed out that "the other conditions is that the banknote is affixed with transparent tape or more along its length or width, or if the banknote was cut in more than one angle or was loaned, or if it contains seals or writings that do not affect its appearance, or If the bank loses 50% of its area. "

"Another condition is also if the foreign currency is stuck in foreign currency and has its features such as inks, dyes, glues, fats and oils, in addition to the fact that the banknote is perforated by one or more holes and randomly."

It is worth mentioning that currently trading in Iraqi markets with old banknotes and damaged and ripped without the presence of new editions of them at hand.

link

 

Edited by DinarThug
  • Like 2
  • Upvote 10
Link to comment
Share on other sites

2 hours ago, DinarThug said:

The Central Bank issues instructions and standards for circulation and replacement of banknotes

 
Economy ,  2018/04/17 10:08 
 

BAGHDAD, Iraq -

The Central Bank of Iraq issued a statement clarifying the terms of the non-negotiable banknotes which are compensated after depositing them in the bank.

According to the statement published by the Central Bank, "the banknotes are not valid for trading if one of the descriptions apply and compensates the holder of their full value immediately submitted to the banks and government and private branches are deposited in the Central Bank and the corresponding amount in their accounts."

The bank said that "one of the conditions of banknotes that are not valid for trading is if the banknotes are worn or damaged, although not torn and not lost part of it, in addition to if damaged paper as a result of exposure to water."

He added that the banknote will be invalid if the banknote is composed of two different parts figures.

The bank pointed out that "the other conditions is that the banknote is affixed with transparent tape or more along its length or width, or if the banknote was cut in more than one angle or was loaned, or if it contains seals or writings that do not affect its appearance, or If the bank loses 50% of its area. "

"Another condition is also if the foreign currency is stuck in foreign currency and has its features such as inks, dyes, glues, fats and oils, in addition to the fact that the banknote is perforated by one or more holes and randomly."

It is worth mentioning that currently trading in Iraqi markets with old banknotes and damaged and ripped without the presence of new editions of them at hand.

link

 

This to me is  very big deal. :twothumbs:

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

4 minutes ago, navira45 said:

CF, totally agree.

Aryoseno, more likely that will happen next week but the rv has got to occur before the event (financial inclusion).only this time iraq is more advanced now. By the way, thanks for sharing that video

I am looking for something to give here. There is so much going on about the currency, oil deal, and international flights that you have to ask , at what point does something happen.  

  • Like 2
  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

Thanks DT...

18 minutes ago, ChuckFinley said:

This to me is  very big deal. :twothumbs:

....I know you're right...The educating phase of the CBI's plans to bring the dinar back into the international theater...by establishing a true market value for the worth of their sovereign currency has been implimented...It was stated after the education process the CBI next step was to introduce the smaller denominational notes....The CBI only has to be concerned with enough workable liquidity within the CBI's banking network to handle a worse case scenario...

  • Like 2
  • Haha 1
  • Upvote 6
Link to comment
Share on other sites

31 minutes ago, ChuckFinley said:

I am looking for something to give here. There is so much going on about the currency, oil deal, and international flights that you have to ask , at what point does something happen.  

 

Afternoon CF - to your question. . . “ at what point does something happen?”  Very first thing that came to my mind was . . . “ When there’s the business end of a .45 Caliber pistol pressed firmly against the Temple “ . . . I know, I know . . . I’m old school. It looks bad in the Newspapers & upsets civilians at Tea ☕️Time. You must admit, it’s one Helluva Motivator.  :D  :wave:

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

Join the conversation

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

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

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

×   Your previous content has been restored.   Clear editor

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

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

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