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!

Monetary Policy Harvest (2016-2019)


yota691
 Share

Recommended Posts

 
12560.jpg
 
  

 Banks


Economy News _ Baghdad

The Central Bank of Iraq (CBE), the economic and banking advisor to the Association of Iraqi Private Banks, said on Wednesday that the Central Bank is proposing new banking products to support the profitability of banks and achieve financial coverage for 2019. He pointed out that the bank has worked in the past two years with deliberate steps, Arabic and foreign.
Al Nusairi said in an interview with "Economy News" to "confirm the policies of the Central Bank to activate the banking activity and support the profitability of banks and achieve the strategy of financial inclusion by providing the widest spread of new banking services and products proposed by the Central Bank and in line with the provisions of the Banking Law 94 of 2004 and structural and structural developments And the training and qualification of banking cadres achieved during the years 2017 and 2018, which will help the banking departments to activate the new banking products proposed so the central bank has set up a specialized meeting in the presence of leaders in the Central Bank and banks Association of Banks in order to develop operational mechanisms and procedures for the direct release of these products and direct support effective and assigning the central bank for the purpose of helping banks to overcome the decline in revenue. "
He added that "the bank is working to revitalize the economic cycle by moving the real banking activity and not rely on the window selling foreign currency after the decline of Makan provides the banks a daily profit before the stability of the exchange rate, one of the objectives of monetary policy, which was achieved in 2018. 
" Central in 2019 new visions for monetary policy applications for the purpose of achieving the objectives of monetary policy based on transparency and disclosure and the application of international standards and confidence in banking transactions between banks and cooperation in the implementation of instructions and decisions issued by the higher authorities, In line with the spirit and contents of the decisions and to enhance the continued provision of banking products and services to customers and the continued efforts of the extraordinary Association of Banks and Banks to improve the reputation of banking institutions and international financial organizations and correspondent banks.
The Central Bank has worked during the past two years with deliberate and sequential steps and coordinated with the concerned international bodies and building strong relations with Arab and foreign central banks as well as the Association of Banks to move across the Arab and foreign countries to clarify the bright points of the Iraqi banking sector and developments during the past three years and in coordination with the Central Bank The procedural, regulatory and structural policies were drawn up and issued a strategy for the years (2016-2020). The objectives were to achieve financial stability and to develop the banking system technically, structurally and organizationally, Realization of financial comprehension, where he prepared and laid the foundations of the financial and technical appropriate to the reality of the Iraqi economy and banking mechanisms, which formed a solid base on the scale of the home and abroad, which led to the transfer of the state of the Iraqi economy in its core and most prominent banking sector to a good ranking according to the classifications of the Financial Action Group and organizations and institutions
He added that all this led the Central Bank to plan for a new phase in 2019 and 2020, the last two years of its strategy based on the following pillars: - 
1 -  working and dealing with banks new mechanisms to lift the pressures of specific instructions and give them flexibility and facilities and many more to add products And achieve the central objectives in development and economic and banking reform and the adoption of transparency and disclosure.  
2 - Dealing with banks based on the introduction of new and high-level banking products and services and restore the confidence of the public in the banking sector in addition to the results of its business and the extent of its commitment to implement the monetary policy directions of the Central Bank and reflect on their actual contribution to GDP and its contribution to sustainable development and its transition from the role of exchange to Development role.                                                     
 3- Dealing with banks according to their classification criteria approved by the Central Bank according to international standard standards. And try to qualify weak and troubled banks and return the map of the banking market, creating a balance between the need of the economy to contribute banking finance in sustainable development and the level of new banking products and services provided.


Views 22   Date Added 01/23/2019

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

32 minutes ago, yota691 said:

He added that "the bank is working to revitalize the economic cycle by moving the real banking activity and not rely on the window selling foreign currency after the decline of Makan provides the banks a daily profit before the stability of the exchange rate, one of the objectives of monetary policy, which was achieved in 2018. 

 

Edited by 6ly410
  • Like 1
  • Upvote 2
Link to comment
Share on other sites

32 minutes ago, yota691 said:

confirm the policies of the Central Bank to activate the banking activity and support system" rel="">support the profitability of banks and achieve the strategy of financial inclusion by providing the widest spread of new banking services and products proposed by the Central Bank

 

  • Upvote 1
Link to comment
Share on other sites

  • yota691 changed the title to A new methodology for the private sector

A new methodology for the private sector

Monday 28 January 2019 3

A new methodology for the private sector

 
Samir Al Nusairi *
The new vision and methodology of the partnership between the government and the private sector depends on a legal and institutional structure and philosophy based on the study and analysis of the Iraqi economy after 2003 and the role of the private sector in it and the implementation of strategies already prepared by advisors in coordination with international organizations in all sectors In fact of them little thing.
The Iraqi economy, through study, potential, and available factors, can overcome imbalances, deviations, weak performance in the economic structure, achieve economic reforms, overcome structural imbalances in the economy and establish a balanced and diversified economic structure based on stimulating, encouraging and supporting the private sector The economy according to the second phase of the strategy of private sector development for the years (2018-2022) and the directions of the third phase until 2030, which unfortunately ended its first phase in 2017 without achieving any development of the private sector according to a new vision test Article (25) of the Constitution focuses on "developing a dynamic, prosperous national private sector, a local initiative, a regional competitor, and a global integrator with the aim of achieving economic diversification, sustainable development and job creation."
This means that the rental economy, which relies on 93 percent of the oil revenues and the transition to the productive economy and the development of other vital sectors of agriculture, industry, tourism and others, should be left behind by restructuring the state-owned industries and gradually turning to the private sector and encouraging partnerships with local investors As well as to review the legislative environment of the industry and provide infrastructure to secure the requirements of the working environment, and the expansion of the establishment of industrial zones.
We also do not forget the need to improve agricultural production and livestock, provide effective supplies and treatments for fields and farms, maintain irrigation and drainage projects, support agricultural products destined for export, improve seed quality, guarantee state prices, support small and medium enterprises, grant soft loans, A bank for development to finance these projects to ensure the fundamentals of steadfastness and economic advancement and revitalization of the economic cycle.
At the same time, we confirm that the country is in the process of overcoming its severe economic and financial crisis, which has not been experienced since the 1990s, due to the sudden and continuous decline in oil prices in the global market and the requirements of the war on terrorism. In the balance of payments, and that requires the government and the House of Representatives to activate the law of partnership between the government and the private sector and reconsider the amendment and issuance of laws in force in 2004 or before that govern the economic process and the establishment of the institutional structure, Lomé and private in the management of the economy in the next phase Kcecchel Private Sector Council and the Council of the market and establish a body to manage and follow-up and identification of small and medium enterprises and the representation of the private sector in the membership of the Council of Ministers and councils planning and executive specialized related to the Council of Ministers and all ministries; and the submission of ministries to follow-up on implementation
 
* Economist and banker
  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

  • yota691 changed the title to The Baghdad International Book Fair is a cultural and economic carnival that embodies the spirit of seeking a new future
 
12766.jpg
 
  

 Articles
Samir Nusairi

Economist and banker

 The financial, moral and logistical support of the Central Bank of Iraq and the Association of Iraqi Private Banks and the outstanding participation of private banks in the Baghdad International Book Fair, which will be opened on February 7 under the slogan "One book more than life" 
on the ground of Baghdad International Fair and under the patronage of the Prime Minister and the presence of government figures Representatives of the private sector, foreign and Arab publishing and distribution companies, and cultural, economic and banking personalities. This confirms the spirit of promoting the hope of the Iraqi people for reform and change to a promising future, especially the economic and cultural elite. For opportunities. The number of participants will be more than twenty-four countries and 700 publishing houses will be local, Arab and foreign. The Association of Banks and the Federation of Publishers will be organized
A number of workshops and seminars on cultural, economic, legal, banking and literary innovations of young people and success stories achieved in all areas and contributions of the Central Bank and the Association of banks in the implementation of the
strategy of financial inclusion and community development and the role of academic coordination with universities in support of culture and education and the care of young intellectuals run by the Governor of the Central Bank and the Ministry of Finance and the judiciary The ambassadors of friendly and sister countries and the President of the Association of Banks and its professors universities and specialists in the strategy of financial inclusion and stability in the financial system and monetary system and the challenges of the banking sector and strategy And the contributions of banks in community initiatives and project Baghdad project and the station and the empowerment of young people and empowerment of women through the program and the empowerment of small and medium-sized projects and will be hosting the literature and intellectuals of foreign and Arab and Iraqi expatriates and Iraqi elites will be on the sidelines of the exhibition to set up a signing ceremony and offer new registrations for researchers and professors and specialists. The exhibition will also honor the national symbols in the fields of cultural, economic, banking and social creativity. I invite the Ministry of Culture, cultural institutions and universities to support the exhibition and visit it and contribute to its activities because it embodies a carnival and a cultural and economic demonstration organized by the private sector and called on all banks to participate in the activities of the exhibition. The establishment of cultural and economic events and active participation in the banking awareness and promotion of the project to settle salaries and delivery of banking products and technical services to the modern public directly and using educational and educational methods According to the banking supervision regulations supervised and monitored by the Central Bank because it will inevitably contribute to the achievement of financial coverage and the access of banking services to a wide range of citizens in a way to support the profitability of banks.


Views 29   Date Added 02/03/2019

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

  • 2 weeks later...
Nusseiri announces his vision for economic reform at the signing ceremony of his new book
 
(PLS MOVE THIS THX)
 

13030.jpg.8ce9c8eb8d68e2eaaf908a8be5a802d6.jpg
 
Economy News - Baghdad
 
15/02/2019

As part of the cultural events organized by the Association of Iraqi private banks on the sidelines of Baghdad International Book Fair and held for the period from 7 to 18 February at the ground of the Baghdad International Fair

Samir Nusseiri, adviser to the Association of Banks announced on Friday the issuance of his new book, a volume of 800 pages and includes four books looking at economic and banking reform in a ceremony attended by the agency "Economy News" and conducted by Professor Dr. Hashim Dean of the Faculty of Information at the University of Baghdad and in the presence of economic elites and university professors and students Postgraduate studies in administration, economics, finance and banking at the universities of Baghdad, Al-Nahrain, Mustansiriya, Iraq and a number of visitors to the exhibition and media coverage.

The author has an analytical and insightful view of the problems of the Iraqi economy and its visions and proposals for reform in accordance with a general and detailed framework defined by the following:

1 - Draw a roadmap on the level of progress and strategic re - formulation of the new economic approach to Iraq, which adopts the mechanisms of transition to a social market economy in accordance with Article 25 of the Constitution to re - evaluate and review the structural system and structural, institutional and legislative management of the economy. As well as review and evaluate the basis of coordination between the financial and monetary policies and review the structure and presentation of the balance sheet and the transition from balancing items to the budget programs.

2. Adopting the policies set out in the Sustainable Development Plan for the years 2018-2022 and the vision of Iraq 2030 and activating the decisions reached by the Joint Expert Committees established in the Council of Ministers in 2015 for each productive economic sector to implement the road map for each economic sector. And evaluation.

3- Forming a joint legal committee between the government and the private sector to re-draft, amend and issue new laws and activate all the laws issued and currently suspended, which govern the management of the economic process and serve the implementation of the road map which is approved, namely all the laws of the legislative environment that regulate and manage the Iraqi economy in its new curriculum, Government-private sector partnership and local product protection law.

4 - Establishment of the Private Sector Development Council and its functions as specified in the private sector development strategy for the years (2014-2030).

 5 - Involvement of the private sector in economic decision-making and representation in the membership of the Council of Ministers and the Committee of Counselors and all opinion bodies in the ministries.

6. The establishment of the Central Monitoring Body, which is linked to the Council of Ministers and represents the private sector, whose task is to follow up the implementation of the decisions of the Council of Ministers.
Edited by 6ly410
  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

  • yota691 changed the title to Nusseiri announces his vision for economic reform at the signing ceremony of his new book
 
13030.jpg
 
  

 Banks


Economy News - Baghdad

As part of the cultural events organized by the Association of Iraqi private banks on the sidelines of Baghdad International Book Fair and held for the period from 7 to 18 February at the ground of the Baghdad International Fair

Samir Nusseiri, adviser to the Association of Banks announced on Friday the issuance of his new book, a volume of 800 pages and includes four books looking at economic and banking reform in a ceremony attended by the agency "Economy News" and conducted by Professor Dr. Hashim Dean of the Faculty of Information at the University of Baghdad and in the presence of economic elites and university professors and students Postgraduate studies in administration, economics, finance and banking at the universities of Baghdad, Al-Nahrain, Mustansiriya, Iraq and a number of visitors to the exhibition and media coverage.

The author has an analytical and insightful view of the problems of the Iraqi economy and its visions and proposals for reform in accordance with a general and detailed framework defined by the following :

1 -      Draw a roadmap on the level of progress and strategic re - formulation of the new economic approach to Iraq, which adopts the mechanisms of transition to a social market economy in accordance with Article 25 of the Constitution to re - evaluate and review the structural system and structural, institutional and legislative management of the economy. As well as review and evaluate the basis of coordination between the financial and monetary policies and review the structure and presentation of the balance sheet and the transition from balancing items to the budget programs .

2.      Adopting the policies set out in the Sustainable Development Plan for the years 2018-2022 and the vision of Iraq 2030 and activating the decisions reached by the Joint Expert Committees established in the Council of Ministers in 2015 for each productive economic sector to implement the road map for each economic sector. And evaluation .

3-      Forming a joint legal committee between the government and the private sector to re-draft, amend and issue new laws and activate all the laws issued and currently suspended, which govern the management of the economic process and serve the implementation of the road map which is approved, namely all the laws of the legislative environment that regulate and manage the Iraqi economy in its new curriculum, Government-private sector partnership and local product protection law .

4 - Establishment of the Private Sector Development Council and its functions as specified in the private sector development strategy for the years (2014-2030).

 5 - Involvement of the private sector in economic decision-making and representation in the membership of the Council of Ministers and the Committee of Counselors and all opinion bodies in the ministries.

6. The establishment of the Central Monitoring Body, which is linked to the Council of Ministers and represents the private sector, whose task is to follow up the implementation of the decisions of the Council of Ministers.


Views 46   Date Added 15/02/2019

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

http://economy-news.net/content.php?id=15455.......

Economic reform is achieved by effective economic leadership
 
13088.jpg
Economic expert Samir Nusairi
text.png html.png print.png
 
arrow.gif Articles
Samir Al Nusairi *
 

The main tasks of the government program are to strengthen the economy and rebuild it according to a reform strategy based on time programs, policies and procedures implemented by the ministries and concerned parties according to the principle of service of the people and achieve reform and economic stability and reconstruction and revitalize the economic cycle and achieve prosperity for the people who suffered during 15 years of instability and terrorism and loss For the basic services in order to be able to achieve the new government these goals and wishes should lead the main rings of national economic leaders in the next phase because the national economic elites in various disciplines must be Have an active role in analyzing and assessing the economic reality in Iraq after 2003 and to identify failures and challenges and identify visions, policies and reforms needed for the economy with added and enriched the successful experiences of the bright spots that emerged during the suffering of Iraq from the financial and economic crisis experienced by departing from the national sense of their love for Iraq and its people

That the observer and observer of the role of government institutions during the lean years passed by Iraq and still passing by in terms of management of the Iraqi economy notes that there are failures and challenges and black pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony strategies developed in partnership with international organizations and experts with the reality of the Iraqi economy Which depends mainly on oil rents and the consequent structural and structural imbalance in the economy and the lack of stability in the financial system and the monetary system due to the deficit in non-oil revenue and balance of payments deficit and the chronic deficit In addition to the lack of coordination between the financial and monetary policies, in addition to the mismanagement of public funds and the obvious weakness in the economic leadership of most of the governmental economic institutions, in addition to the lack of involvement and giving an active role to the private sector in economic decision-making and shortcomings in the legislative environment governing the economy.

All the above failures, combined with political and security instability and the war on terror, have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy that I believe is the solution to our economic reality.

The challenges presented above have created the pessimism and gloomy outlook of our economic future among many of our economic elites. But I believe and believe many economists and financial experts that there are points and promising and bright experiences that some economic institutions have done clearly and effectively during the years 2015-2018, .

One of the highlights of this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives defined in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and strengthening the decisive victory over terrorism.

I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years. The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program.

 In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to restore confidence in the banking system.

The Central Bank has proved its clear ability to interact and analyze obstacles to work and create conditions to overcome the challenges, and the road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy so I call on the national economic elites to interact with the points and experiences light and enrich them with their ideas and visions and proposals To build a strong national economy and overcome the challenges and correct the wrong tracks and dialogues transparent and calm without personal and partisan targets, because the abuse of our national economic institutions of sovereign is the abuse of Iraq and its people.

* Economist and banker

  • Thanks 1
Link to comment
Share on other sites

Theresults achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program

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

  • yota691 changed the title to Economic reform is achieved by effective economic leadership
 
13088.jpg
Economic expert Samir Nusairi
  

 Articles
Samir Al Nusairi *

The main tasks of the government program are to strengthen the economy and rebuild it according to a reform strategy based on time programs, policies and procedures implemented by the ministries and concerned parties according to the principle of service of the people and achieve reform and economic stability and reconstruction and revitalize the economic cycle and achieve prosperity for the people who suffered during 15 years of instability and terrorism and loss For the basic services in order to be able to achieve the new government these goals and wishes should lead the main rings of national economic leaders in the next phase because the national economic elites in various disciplines must be Have an active role in analyzing and assessing the economic reality in Iraq after 2003 and to identify failures and challenges and identify visions, policies and reforms needed for the economy with added and enriched the successful experiences of the bright spots that emerged during the suffering of Iraq from the financial and economic crisis experienced by departing from the national sense of their love for Iraq and its people

That the observer and observer of the role of government institutions during the lean years passed by Iraq and still passing by in terms of management of the Iraqi economy notes that there are failures and challenges and black pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony strategies developed in partnership with international organizations and experts with the reality of the Iraqi economy Which depends mainly on oil rents and the consequent structural and structural imbalance in the economy and the lack of stability in the financial system and the monetary system due to the deficit in non-oil revenue and balance of payments deficit and the chronic deficit In addition to the lack of coordination between the financial and monetary policies, in addition to the mismanagement of public funds and the obvious weakness in the economic leadership of most of the governmental economic institutions, in addition to the lack of involvement and giving an active role to the private sector in economic decision-making and shortcomings in the legislative environment governing the economy.

All the above failures, combined with political and security instability and the war on terror, have led to economic instability and lack of vision to build a solid national economy capable of drawing the preconditions for a transition to a social market economy that I believe is the solution to our economic reality.

The challenges presented above have created the pessimism and gloomy outlook of our economic future among many of our economic elites. But I believe and believe many economists and financial experts that there are points and promising and bright experiences that some economic institutions have done clearly and effectively during the years 2015-2018, .

One of the highlights of this march is the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives defined in its law. The most important achievement of the Central Bank is its contribution to achieving economic steadfastness and promoting the decisive victory over terrorism.

I do not want to clarify the executive and development procedures and build balanced relations with Arab, regional and foreign banks and its strategy for the next five years. The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program.

 In addition to its various contributions and initiatives to activate the economic cycle and enhance the liquidity of banks and reach a re-bridge coordination between the financial and monetary policies and propose new economic and structural policies to prepare budgets for the coming years and attempts to restore confidence in the banking system.

The Central Bank has proved its clear ability to interact and analyze obstacles to work and create conditions to overcome the challenges, and the road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy so I call on the national economic elites to interact with the points and experiences light and enrich them with their ideas and visions and proposals To build a strong national economy and overcome the challenges and correct the wrong tracks and dialogues transparent and calm without personal and partisan targets, because the abuse of our national economic institutions of sovereign is the abuse of Iraq and its people.

* Economist and banker


Views 28   Date Added 02/20/2019

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

53 minutes ago, yota691 said:

The results achieved on the scope of the application of monetary policy internally and convince the international financial organizations and the most important official reports issued by them confirm the success of the policy of the Central Bank to achieve an important transition to the Iraqi economy and achieve Stability of the exchange rate and the recovery of the Iraqi dinar and increase its purchasing power, which is one of the objectives of strengthening the economy in the government program.

 

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

2 minutes ago, blueskyline said:

I think its March as in moving forward . And may I never be more Wrong about anything in my whole life ........Nasari looks adamant about raising the purchasing power. I hope it really is now and not later !

 

I'd like to be wrong right along side of you Blue . . . however, these fools almost always seem to be in favor of doing things Later as opposed to doing things Now ( which seems to make them shudder & quiver in FEAR ).

The flip side . . . I think we'll ALL be grateful if they can at least push the dam button & RI/RV in March . . .as opposed to dare I say - Later than March. 

  • Upvote 2
Link to comment
Share on other sites

  • yota691 changed the title to Tamkeen Fund and Al Rasheed Street
 
13704.jpg
Economic Adviser Samir Nusairi
  

 Articles
Samir Nusairi 

 

Economic and banking consultant

An international organization has recently issued a report that places Baghdad as the worst city to live in compared to the capitals of the world. 
I was bothered by this news, whether the standards adopted in the classification are accurate, real or inaccurate, or carrying an agenda to show our capital is the worst. 
 Baghdad, Rashid, Baghdad, peace, Baghdad Kadhimin and the great Imam and Abdul Qadir Kilani and Rassafi and Jamil Sedqi Zuhawi and Jawahery and Qabnji and Yusuf Omar and cafe Shabandar and Umm Kulthum cafe and Mutanabi Street and the first skyscraper and the highest in Baghdad building Rafidain Bank.
Is it reasonable and logical? To allow the honor of our beloved capital Baghdad to be shamed and allow organizations that claim to be international organizations to harm our capital. Why are the good people? We accept, hear and watch every day what is happening to our Baghdad from neglect and obliterating the heritage of Baghdad and its cultural symbols without shaking us and motivating us to respond to their reports and standards with practical steps to restore the legacy, heritage, civilization and excellence.

It was also returned to 20 squares in Baghdad earlier this year by banks and under the supervision and follow-up of the Central Bank and the Association of Iraqi private banks. 
In order to achieve this quickly, we propose that we choose Al-Rashid Street, which represents the Baghdadi and the Iraqi people as a legacy and an eternal cultural symbol, and that the original and good people of Baghdad, especially businessmen, private banks, the Association of Banks, civil society organizations, artists and plasticians, engineers and under the leadership of the Central Bank of Iraq As community initiatives that restore the cultural and heritage heritage of the present world by reviving its heart Rasheed Street.
I invite the government and the Secretariat of Baghdad to announce a competition and not a tender for the most beautiful designs to return Al-Rasheed Street to Al-Qah in 1965. We want to return to the street its heritage buildings, Shanashila, Hafez al-Qadi, Shatt al-Arab Casino, Brazilian coffee, Amo Elias Restaurant, To a heritage museum of Baghdad and to turn the street, which was acquired by the emergency professions and manual carriages to a street with a single track to enter only modern cars with specific models and to allocate Fridays and Saturdays to the heritage and commercial markets and Baghdadi industries, Cars, as is the case in most of the capitals of the world during the holidays, and this, if achieved requires the cooperation of all Iraqis and Baghdadis in particular to be Rashid Street is (the capital of good Baghdad beloved) and invite the owners of international reports to visit them before they put it as the worst city to live in the world.

 


Views 92   Date Added 03/17/2019

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

  • yota691 changed the title to Islamic windows support the profitability of conventional banks
 
14165.jpg
 
  

 Articles
Samir Nusairi

Samir Nusairi


 In the second half of 2018 and 2019, the Central Bank of Iraq is making clear efforts to implement the objectives of its strategy in supporting the profitability of banks and stimulating them for real banking work by providing new banking products and services in line with their efforts over the past four years and achieving their strategy in developing the banking sector structurally, structurally and technically. .
In view of the role of Islamic banking in providing Islamic investment finance and offering Islamic products that contribute to restoring confidence to customers to deal with the banking sector and achieve good profits and the Islamic banking experience demonstrated by some banks that have been approved over the past two years, we are encouraged to propose that the Central Bank allow traditional banks to open Islamic windows in some areas where Islamic financing and investment activity is flourishing for the purpose of these traditional banks to expand their banking products towards the addition of Islamic products according to the executive instructions issued by The Central Bank must be noted here that the central bank already has issued instructions introduction of Islamic windows formerly No. 6 of 2011 before the issuance of the Islamic Banking Act No. 43 of 2015.
 Therefore, I call on the Central Bank to encourage traditional banks to open Islamic windows in some of its branches according to economic feasibility studies and the need of the banking market. 
 Which widens the circle of beneficiaries of this industry, and the options available to Islamic banking customers, and accelerates the process of developing the products and services of the industry. This is what happened when conventional banks started offering Islamic banking services in Arab and foreign countries. Where there has been a boom in Islamic banking products in the last ten years, in addition to improving the services and prices of Islamic banks, as a result of competition, but I think that the regulators in the Central Bank when allowing the traditional banks to open Islamic windows to put controls and restrictions, The most important of which are the following:
First, a traditional bank that wishes to open an Islamic window or offer an Islamic product must appoint a Shari'a board that will have specialists in the Shari'a to approve and control these products and be appointed by the General Authority of the Bank. 
Second: The bank shall have a specialized section for internal auditing and supervision, in proportion to the volume of work in the bank. 
Thirdly: Accounting should be separated between Islamic and traditional operations, in accordance with instructions issued by the Central Bank. 
Fourth: The accounting registration of the Islamic operations shall be in accordance with the accounting standards adopted by the Islamic banks and the accounts shall be independent of the accounts of the conventional bank. 
Fifth: The existence of policies and procedures for the work of Islamic windows and products separate from traditional banking procedures.
Sixth: Disclosure of Islamic operations in the quarterly and annual financial reports, the accounting methods used to record them, their risks, and how to address these risks. 
The number of conventional banks with Islamic windows has reached 320 banks worldwide, according to the report of the General Council of Islamic Banks and Financial Institutions, of which 22 are in the UK alone, led by HSBC, which offers Islamic banking services through its secretariat Which he founded in 1998 and currently manages $ 19 billion of Islamic financial assets around the world.


Views 44   Date Added 03/04/2019

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

Al-Nasiri: The Iraqi-Saudi Coordination Council is an important step for the return of Iraq to its Arab depth

image.png.65dabdd7b88b62790ee39df15d394625.png

Economy News _ Baghdad

 

The second round of meetings of the Iraqi-Saudi Coordination Council held in Baghdad is an important step for the return of Iraq to its Arab work and openness to building balanced political, economic and security relations with brotherly and friendly countries, especially with the countries of the region, said Samir Nusairi, economic and banking adviser to the Association of Iraqi Private Banks. Geographically, in which the Arab depth of Iraq constitutes the foundation and the essence.

Al-Nasiri said in an interview with Al-Iktissad News that the Saudi delegation, which consists of 7 ministers and 113 political, security, economic, businessmen and investors, is a clear indication of the new foreign relations strategy adopted by Iraq since 2017. The first of these relations was the emergence of the Coordination Council with the Saudi side And held its first meeting in November 2017 in Saudi Arabia, adding that the strengthening of Iraqi-Gulf relations in all areas of political, security and economic and in particular cooperation and communication and strengthen banking relations between them, especially in foreign banking transactions To stimulate and encourage investment companies to invest in Iraq will lead to the strengthening of financing and investment areas, in particular projects for the reconstruction of liberated cities.
Al Nusairi pointed out that the Iraqi economy is currently undergoing an important stage of transition after achieving the ultimate victory over terrorism. It is to leave the crisis stage to the stage of security and economic stability especially after the wide international, regional, Gulf and Arab openness on Iraq and the beginning of building new relations. In general and with the Arab Gulf States in particular and some Arab countries with an influential economic depth and extending the bridges of the relationship together to serve the opening of new horizons for communication and exchange of benefits and encourage Arab investment in Iraq and the development of infrastructure Technical infrastructure and banking and increasing inter - banking transactions and find new ways to cooperate with banks discreet correspondence in those countries.

Al-Nassiri said that the recent bilateral meetings between the Central Bank of Iraq and the relevant ministries and representatives of the Gulf countries who visited Iraq during the past year, especially the visit of the Saudi delegation to Iraq and the important contribution of the Iraqi private sector to the road map, In order to implement the implementation of a comprehensive framework for building and restoring the economic, financial and banking relations that have been broken for several decades. It was agreed to develop and open broad prospects for cooperation in the economic and security fields, For the banking field, correcting the previous tracks and overcoming all the obstacles that stand in the way of building sound and sound banking relations. Prime Minister Adel Abdul Mahdi is expected to sign 13 memorandum of understanding with the Saudi side in all fields during his upcoming visit to the Kingdom of Saudi Arabia.
Al-Nasiri called for the need for joint banking cooperation with Saudi Arabia in all fields that promote, develop and develop foreign banking transactions, encourage and stimulate investment, build capacity, rehabilitate and train Iraqi banking cadres, open branches of Saudi banks in Iraq and the Iraqi banks project in Saudi Arabia.

 
Views 39   Date Added 04/04/2019

 

http://economy-news.net/content.php?id=16112

  • Upvote 3
Link to comment
Share on other sites

  • yota691 changed the title to Financial Disclosure and Informatics Transparency A Strategic Approach for the Central Bank of Iraq
 
14492.jpg
 
  

 Articles
 

Samir Nusairi

Central banks in the countries of the world mainly aim to achieve economic stability through the achievement of monetary and financial stability in accordance with its programs and strategy, which aims to maintain stability in the exchange of local currencies against other foreign currencies and build sufficient foreign reserves in accordance with international standards issued by the International Monetary Fund, Based on other criteria related to confronting crises, challenges, economic and political shocks in their countries, controlling stable rates of inflation rates, interest rates, implementing compliance regulations and rules, combating money laundering, Phobia.
Which led the Central Bank, which assumed responsibility in 2015, to formulate a strategy for the next five years, one of the main objectives of the main and subsidiary is the adoption of transparency and disclosure locally and internationally on the progress of the results achieved for the financial sector and banking and adhere to the international standards standard applied by the banks of the world Led to the creation of a new and balanced relationship with banks and international banking institutions based on confidence in the financial statements provided by the Central Bank.
For example, he announced earlier in a transparent and clear disclosure a detailed report of the revenues and expenditures of Iraq for the years (2005 - 2017) as the central bank is the financial adviser to the government, which manages the accounts of the Ministry of Finance of foreign exchange of Iraq's oil exports, which is the main supplier of foreign currency Accounting for 93% of total budget revenues and 65% of GDP. The report showed high transparency and disclosure on the accuracy of the data as total revenues of 706 billion dollars and government expenditures totaling 703 billion dollars and the remaining was converted as the opening of the Ministry of Finance for 2018. The main and most important thing in this report is the most prominent of the costs of government expenditure during the previous years, which focused on operating expenses by a large percentage, security expenses, the war on terrorism and government revenues in the light of the contracts concluded by the ministries, especially electricity, oil and ministries of service. The investment expenses constituted only a small percentage Which occupied the salaries and wages of the highest proportion of them. It also notes that the report clearly indicates that the highest oil revenues achieved in 2012 and the highest spending achieved in 2013 and the lowest revenues achieved in 2016.
The central bank also announces daily sales of the dollar in the window of sale of currency distributed to banks that enter the window according to the classification of each bank and comprehensive disclosure. In addition, the Governor of the Central Bank always confirms the monthly meeting of banking leaders to oblige banks to adopt transparency and continuous disclosure And by all means available on the results of its work periodically and the adoption of international accounting standards that ensure the transparency of financial statements.
We note that the Central Bank of this strategy and this approach is announced to the local and international public opinion as follows: 1 - The statements issued by him and the Iraqi banking sector confirms the transparency and disclosure of the Central Bank of Iraq, and for the first time since 2003 at least by declaring reliable and transparent reports of total revenue from the currency Foreign exchange and total expenditures of the foreign currency of the government according to approved exchange rates. 
2. The data contained in his daily reports on his official website refutes all media statements authorized by non-specialists in the various media. In particular the currency sale window. I believe that the central bank's disclosure of the financial statements, especially those related to foreign currency, with the accuracy required will greatly help to restore confidence in our national economy and the Iraqi banking sector domestically and internationally, because disclosure, transparency and credibility will increase financial coverage.


Views 39   Date Added 04/15/2019

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

Financial Disclosure and Informatics Transparency A Strategic Approach for the Central Bank of Iraq

  
 06701375-BC30-4D7F-8E58-2A0724D8881D.jpeg
Samir Nusairi

Central banks in the countries of the world mainly aim to achieve economic stability through the achievement of monetary and financial stability in accordance with its programs and strategy, which aims to maintain stability in the exchange of local currencies against other foreign currencies and build sufficient foreign reserves in accordance with international standards issued by the International Monetary Fund, Based on other criteria related to confronting crises, challenges and economic and political shocks in their countries, controlling stable rates of inflation and interest rates, applying compliance regulations and rules, combating money laundering and financing To terrorize. The Central Bank of Iraq (CBE) has proved that it is moving steadily to achieve the goals of monetary policy and a consistent and strategic approach that depends on transparency and disclosure of financial statements and dealing with international financial organizations and institutions. Reputation and negative media impact on the damage to the Iraqi economy and the diversion of data and information is inaccurate, fabricated and distorted.
Which led the Central Bank, which assumed responsibility in 2015, to formulate a strategy for the next five years, one of the main objectives of the main and subsidiary is the adoption of transparency and disclosure locally and internationally on the progress of the results achieved for the financial sector and banking and adhere to the international standards standard applied by the banks of the world Led to the creation of a new and balanced relationship with banks and international banking institutions based on confidence in the financial statements provided by the Central Bank.
For example, he announced earlier in a transparent and clear disclosure a detailed report of the revenues and expenditures of Iraq for the years (2005 - 2017) as the central bank is the financial adviser to the government, which manages the accounts of the Ministry of Finance of foreign exchange of Iraq's oil exports, which is the main supplier of foreign currency Accounting for 93% of total budget revenues and 65% of GDP. The report showed high transparency and disclosure on the accuracy of the data as total revenues of 706 billion dollars and government expenditures totaling 703 billion dollars and the remaining was converted as an opening of the Ministry of Finance for 2018. The important and fundamental in this report explained the doors of government expenditures during the years above and focused on operating expenses By the large and the expenses of security and the war on terrorism and government revenues in the light of the contracts concluded by the ministries, in particular electricity, oil and ministries service, either investment expenses were only a small proportion of operational premises, which occupied Salaries and wages of the highest proportion of them. It also notes that the report clearly indicates that the highest oil revenues achieved in 2012 and the highest spending achieved in 2013 and the lowest revenues achieved in 2016.
The central bank also announces daily sales of the dollar in the window of sale of currency distributed to banks that enter the window according to the classification of each bank and comprehensive disclosure. In addition, the Governor of the Central Bank always confirms the monthly meeting of banking leaders to oblige banks to adopt transparency and continuous disclosure And by all means available on the results of its work periodically and the adoption of international accounting standards that ensure the transparency of financial statements.
We note that the Central Bank of this strategy and this approach is announced to the local and international public opinion as follows: 1 - The statements issued by him and the Iraqi banking sector confirms the transparency and disclosure of the Central Bank of Iraq, and for the first time since 2003 at least by declaring reliable and transparent reports of total revenue from the currency Foreign exchange and total expenditures of the foreign currency of the government according to approved exchange rates.
2. The data contained in his daily reports on his official website refutes all media statements authorized by non-specialists in the various media. In particular the currency sale window. I believe that the central bank's disclosure of the financial statements, especially those related to foreign currency, with the accuracy required will greatly help to restore confidence in our national economy and the Iraqi banking sector domestically and internationally, because disclosure, transparency and credibility will increase financial coverage.


Views 149   Date Added 04/15/2019

 

http://economy-news.net/content.php?id=16259

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

 

International Smart Card Company contributes to financial inclusion
 
14762.jpg

 

Date Added 24/04/2019

 

Samir Nusairi 


Economic and banking consultant

Over the past four years, the Central Bank of Iraq has been able to achieve a technical revolution in the field of payment systems and modern banking technologies and electronic payment, which led to the transfer of banking products to advanced services to serve customers and compete the offer of Arab and foreign banks of the services of its customers.
What is important here is that e-payment companies, owned by private shareholders, have supported the direction and implementation of the Central Bank's strategy for the years (2016-2020) in the development of payment systems and electronic payment techniques, reflecting the high financial coverage ratio according to the latest World Bank report from 11% to 22%. %. Which is to be confirmed here is the role played by the International Company for smart card (K), which is the first company that introduced electronic payment technologies to Iraq in 2007 in partnership with Rafidain Bank and Rashid using the card (smart card) to pay the salaries of retired civilian and military beneficiaries of welfare salaries Which is the first national mixed company run by the Iraqi private sector and the state banking sector. This product has been able over the past years to provide rapid service and without risk to the ways to 7 million subscribers by thousands of ports and that the most prominent features of the product can be filled card in all branches of the Rafidain Bank and by the ports spread along the geographical area of Iraq and can be reissued in case of loss Theft or fraud without any risk to the customer or money in the card due to biometric technology. The company has also issued a MasterCard card, a global bank card which provides the opportunity to deposit money or spend it electronically or by ATM. Duck bank account, making the company cross the borders of Iraq through its partnerships with global payment systems, making a national product in order to compete on a global level to take pride in what is "Made in Iraq"
So we have said that KI is the leader in the national private sector in providing electronic payment services.

https://www.thebaghdadpost.com/ar/Story/164028/شيخ-الأزهر-يتلقى-دعوة-رسمية-من-عبد-المهدي-لزيارة-العراق

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

  • yota691 changed the title to Monetary Policy Harvest (2016-2019)

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.