Monetary Policy Harvest (2016-2019)

[NWGUY]

Shaaaazzzammmm!!!  Flip the switch!!

[mr.unlikely]

On 6/18/2019 at 3:40 AM, chris2028 said:

This gentleman is a very wise economic and banking advisor. I really hope when he gave Al- Al- Aalak his copy of the book that he highlighted all the important things in there to lead to the" light at the end of the tunnel". Go RV. Thanks Yota!

Sadly the Iraqi word for hilight is redacted, so he highlighted it with a black sharpie.

[ChuckFinley]

13 hours ago, mr.unlikely said:

I’m liking the Shiite that he’s shoveling! Show me the money!!!!

I am counting on a big pile of it sitting in my yard.

[Mary B]

Central Bank's safe investment policies have boosted confidence in the Iraqi economy

 

Articles Samir Nusairi A source at the central bank said foreign reserves amounted to $ 72 billion, and would rise to $ 86 billion when the Ministry of Finance takes advantage of the rise in oil prices and the payment of $ 14 billion to the Central Bank, which represent the sad transfers that the central bank during the period of financial crisis, which suffered Including Iraq, which constituted direct support to the State Treasury and the national economy in the near future when the country was unable to pay the salaries of state employees at the time of the Minister of Finance at the time. Which has had a significant impact in achieving economic steadfastness and thus financial victory in complex circumstances. That the observer and specialist is well aware that access to this rate of foreign reserves is the Central Bank to follow the safe investment policies, which strengthened the international credit position and restore confidence in the Iraqi economy and international banking relations. Underscoring the safety and success of the Bank 's strategy for the years (2016 - 2020 ) achieved .ho achievements in financing activity and activate the initiative to finance small and medium enterprises and raise the ceiling on loans to one billion dinars for each project within the objectives of theinitiative in activating the economic cycle and support the implementation of the objectives of the government curriculum in the fourth axis ( Strengthening the economy) to achieve the goal of development banks as the goal of development. In addition to this, the Bank is working on direct Islamic financing for public and private banks. In addition, the expansion of the implementation of community initiatives from the Tamkeen Fund is an effective national experience in integrating the banking sector with society and achieving the goal of social, economic and humanitarian banks. Babylonian monuments on the World Heritage List. The clear evidence that can never be covered is the continuation and maintenance of the exchange rate stability over two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank has been able to achieve its objectives in its Law No. 56 of 2004, On the stability of the exchange rate. And is now vigorously and effectively pursuing the objectives of strengthening the economy and banks for development. Views 116   Date Added 06/07/2019

http://economy-news.net/content.php?id=17151

[6ly410]

41 minutes ago, Mary B said:

The clear evidence that can never be covered is the continuation and maintenance of the exchange rate stability over two years and maintaining the inflation rate of less than 2%. Thus, the Central Bank has been able to achieve its objectives in its Law No. 56 of 2004, On the stability of the exchange rate. And is now vigorously and effectively pursuing the objectives of strengthening the economy and banks for development.

 

[6ly410]

The Association of Iraqi Private Banks Participates in the Workshop «Afforestation and its Role in Mitigating the Negative Effects of Climate Change»

 

Part of the workshop.

http://economy-news.net/content.php?id=17162

Economy News Baghdad The Department of Forestry and Combating Desertification in Erbil Governorate held a workshop on "Afforestation and its Role in Mitigating the Negative Effects of Climate Change" on Saturday. The workshop was held in cooperation with the Central Bank of Iraq and the Association of Iraqi private banks and the initiative of Tamkeen, and attended by a member of the Board of Directors of the Central Bank of Iraq Walid Idi and the Director General of the Department of Forestry and Combat Desertification in the province of Arbil Ruaa Mazal as well as the engineering team in the Association of Iraqi private banks. The workshop witnessed the establishment of two panel discussions that discussed important issues related to afforestation and its role in mitigating the negative effects of climate change presented by professors from Iraqi universities who are specialized in this matter. "We hope that all of us will reach positive results that will confront the challenge of desertification, which is now creeping across our country and the region as a whole, with negative consequences for health, the environment and the economy," said Muhannad Munther, regional director of the Association of Iraqi Private Banks. In our country, which was known throughout history in the blackness and the great rivers of the Tigris and the Euphrates. " He stressed the need to accelerate the adoption of bold and effective steps in the areas of water management, the cultivation of desert lands and the entrances of cities in millions of seedlings and extend them by means of living and growth through the provision of sources of irrigation and sustainable care. He pointed out that "in order to achieve this great goal initiated by the Association of Iraqi private banks in cooperation with the Central Bank of Iraq to launch the initiative / empowerment / to meet this challenge of the threat of desertification, which has become a threat to half the area of Iraq and the amount of 94 million acres, and 53% of the country the college". Munther stressed that "the Association of Iraqi private banks was able, with the support and encouragement and support of the Central Bank and through the contributions of private banks in the Fund" Tamkeen "to launch a large campaign to plant and plant more than two million seedlings throughout Iraq under the slogan" for a green Iraq "and in cooperation with the Ministry Agriculture - Department of Forestry, represents a first step modest on the way to meet the need of Iraq to 15 billion trees to cover all deserted land. "We are confident that this workshop, held in conjunction with the World Day to Combat Desertification adopted by the United Nations, will contribute to laying solid foundations, solid studies and effective mechanisms to confront this serious scourge, desertification, global warming and climate change," he added. "The holding of this important workshop in Erbil represents an opportunity to support the initiative of Tamkeen and extend it with plans, mechanisms and future visions. It is also an opportunity to join the Kurdistan Region to the" Tamkeen "initiative, which is of interest to all without exception, especially after the invasion of the Iraqi cities without exception, And the rapid decline in the effects of erosion and storms and the decline of the agricultural sector and the recurrence of drought years and the deterioration of ecosystems due to wars and siege, which requires immediate intervention and strong coordination of all Iraqis. At the end of the workshop, a working group consisting of (the Ministry of Agriculture, the Central Bank of Iraq and the Iraqi Private Banks Association) was formed to come up with recommendations to be followed to ensure that the desired results are reached to achieve the desired goal for which this initiative was launched.

Views Date Added Date 06/07/2019

[6ly410]

The Association of Banks holds a graduation ceremony for two courses of customer service and the development of the skills of Taler employees

 

Banks Economy News - Baghdad The Association of Iraqi Private Banks, in cooperation with the Joint Efforts Group and the International Card Company (Key Card), held Sunday the graduation ceremony of "Customer Service" and "Taler Skills Development" session in the station hall in central Baghdad. And ended before the days of 120 trainees from the Rafidain Bank these two sessions at the training center of the Association of Iraqi private banks at its headquarters in Baghdad. The course was divided into four axes: the first dealing with dealing with cash and the second in the field of forgery, forgery and bank fraud, and the third in excellence in customer service, quality of service and the latest in the technical aspects of the function of teler in banks. The Teller staff is the one who deals with cash, receiving cash from depositors at banks and conducting cash deposit procedures. The event, which was attended by "Economy News", a speech to the Executive Director of the Association Ali Tariq, said, "The Association is keen to provide the environment suitable for trainees from the staff of banks, but the most important is the application of training on the ground and the implementation of what the trainee learned to develop the work of public and private banks "He said. Tarek added that "the near future will certainly see a clear change in banking work within the country," pointing out that "the management of Rafidain Bank was brave when I decided to use this new system (ATM) in banking." He called on employees to "be flexible in the implementation of this program in order to present it to the fullest customers of the bank," adding that "the Association of Banks aspires to continue cooperation and increase with Rafidain Bank and other banks in general." For her part, the Director General of Rafidain Bank Dr. Khawla Al-Asadi said in a speech during the ceremony that "the Association of Banks impressed us in providing the appropriate environment to train our cadres and succeeded in this success by attracting qualified trainers of Arab nationalities, in addition to the excellent handling by the administration of the Association With the bank and trainees. " Al-Asadi added, "We hope that the Association of Banks new wheel in the banking system of Iraq," calling on the staff of the bank to "good dealing with the customer and gain and abide by the rules and regulations of the bank."   Then the graduation ceremony was distributed to the trainees at the end of the ceremony attended by senior banking figures. Views 40   Date Added 07/07/2019

  
 http://economy-news.net/content.php?id=17174

 

[yota691]

Rafidain Bank launches its approach to change and renewal at the station

 

Articles Samir Nusairi The fourth goal of the goals of the Central Bank 's strategy for the years(2016 - 2020 ) is the investment in human capital has turned this goal into reality embodied in the celebration of joyful and joy ventured organized by the Iraqi Association of private banks at thestation in partnership with the Bank of Iraq and the international company for the smart card and a set of joint efforts Jordan, which carried out the training for the graduation of 120 bank employees representing 14 branches of the Rafidain Bank in Baghdad in the two sessions of customer service and the development of skills of staff Teler and organized by the Association of banks for employees of Rafidain Bank for the purpose of preparing the bank to start the banking system The new Ktrona. The advantage of this event is the participation of the general manager of the bank and its assistants and all the managers of the departments and branches and a large number of employees for the purpose of actually starting the process of change and renewal of work systems and programs and modern banking techniques and stimulate all sections and branches of the bank that their bank has already started the process of change and renewal and that the process started to move in the right direction of the bank The first government to practice banking business, which is considered throughout the years of his work as the home of expertise of the Iraqi banking sector and contributed to the private sector banking expertise and cadres, which are currently managed by employees of Rafidain who have already worked in the bank. And that the important in the celebration is the supervision of the Central Bank of Iraq in sponsoring and supporting this celebration in line with the achievement of the goal of developing the banking sector and rehabilitation of young people and develop their abilities to start the banking business in accordance with the applications of the new electronic banking system. That such initiatives are national practices to serve the national economy and serve young people to take their positions in the leadership of society because Iraq is about to move to a new stage in overcoming the stage of the financial crisis and economic to a new stage after a mission that inspires us to draw lessons and lessons from the experiences of peoples and developed countries politically and economically Depending on the Iraqi youth, efficient and ambitious and enlightened in the leadership of institutions of the national economy and in particular the banking market a new methodology depends on the vitality and determination to overcome the challenges and focus on young believers in the ability of his beloved country Iraq and its Iraqi people In the sound construction of the economy in a new spirit that carries all the aspirations of young people and provide the best services and products to the public in accordance with the look of the keenness on the development of policies, programs and visions. * Economic and banking consultant Views 61   Date Added 07/08/2019

[6ly410]

Rafidain Bank launches its approach to change and renewal at the station

 

Articles Samir Nusairi The fourth goal of the goals of the Central Bank 's strategy for theyears (2016 - 2020 ) is the investment in human capital has turned this goal into reality embodied in the celebration of joyful and joy ventured organized by the Iraqi Association of private banks at thestation in partnership with the Bank of Iraq and the international company for the smart card and a set of joint efforts Jordan, which carried out the training for the graduation of 120 bank employees representing 14 branches of the Rafidain Bank in Baghdad in the two sessions of customer service and the development of skills of staff Teler and organized by the Association of banks for employees of Rafidain Bank for the purpose of preparing the bank to start the banking system The new Ktrona. The advantage of this event is the participation of the general manager of the bank and its assistants and all the managers of the departments and branches and a large number of employees for the purpose of actually starting the process of change and renewal of work systems and programs and modern banking techniques and stimulate all sections and branches of the bank that their bank has already started the process of change and renewal and that the process started to move in the right direction of the bank The first government to practice banking business, which is considered throughout the years of his work as the home of expertise of the Iraqi banking sector and contributed to the private sector banking expertise and cadres, which are currently managed by employees of Rafidain who have already worked in the bank. And that the important in the celebration is the supervision of the Central Bank of Iraq in sponsoring and supporting this celebration in line with the achievement of the goal of developing the banking sector and rehabilitation of young people and develop their abilities to start the banking business in accordance with the applications of the new electronic banking system. That such initiatives are national practices to serve the national economy and serve young people to take their positions in the leadership of society because Iraq is about to move to a new stage in overcoming the stage of the financial crisis and economic to a new stage after a mission that inspires us to draw lessons and lessons from the experiences of peoples and developed countries politically and economically Depending on the Iraqi youth, efficient and ambitious and enlightened in the leadership of institutions of the national economy and in particular the banking market a new methodology depends on the vitality and determination to overcome the challenges and focus on young believers in the ability of his beloved country Iraq and its Iraqi people In the sound construction of the economy in a new spirit that carries all the aspirations of young people and provide the best services and products to the public in accordance with the look of the keenness on the development of policies, programs and visions. * Economic and banking consultant Views 92   Date Added 07/08/2019 http://economy-news.net/content.php?id=17175

[nannab]

Good morning Yota and DV  

[ChuckFinley]

Looking good 👍.

[Laid Back]

The central bank strategy for the years 2016-2020.

The banking system is almost ready

The human resource is ready

Like a said in the past, 2020 will be the year for the CBI and the dinar to hit the international stage.

 

just my humble opinion.

 

 

 

 

[yota691]

Tunnel light

Tuesday 09 July 2019 Games

 

Baghdad / Al-Sabah

 

 

A book entitled "Light in the End of the Tunnel ... Views and Banking and Economic Studies" was published for the banking specialist Samir Al-Nusairi. The book included four chapters, 60 chapters, 204 pages with an appendix, and 12 statistical tables.

The author said in his book that the historical transformations and events witnessed by Iraq are still in place, have not yet established their stable bases, politically stable, economically, socially and security, so the need is urgent to correct the situation and take it to the right paths that provide opportunities for stability, progress and prosperity.

In his book, al-Nasiri paints a road map in line with the philosophy of the modern state, the philosophy that shaped the new constitution of Iraq.

There was a historic opportunity for the government to shift from a government that dominated all activities to a government of planning, coordination and supervision, a government that does not practice blasphemy, but rather leads and guides and opens doors to the private sector to take up its role in promoting the productive and service sectors.

It is regrettable that the government has continued to play its traditional roles inherited and expanded and abandoned its organs in a way that swallowed up the vast majority of the state resources, leaving the government with no possibility of advancement and construction, filling gaps and the huge shortage of infrastructure and services. .

The nature of the government's expenditures has deepened the delay of the advancement of the real sector of industry, agriculture, tourism and others, which led to the promotion of consumerism in the chaos of imports and dumping policies practiced by the exporting countries. Iraq has become a huge market to the maximum, that is, the oil resources that are the basis of the state resources Has been going to build the economies of exporting countries.

The book represents an urgent call to change the economic, trade, investment, legal and regulatory policies towards diversifying the sources of the state budget and stimulating the real sector, thus creating sustainable development towards the activation of the disabled natural and human resources.

The book covered in detail the cornerstone of economic policy, monetary policy and the role of the Central Bank of Iraq during the years of defiance after the occupation of the vast areas and the shock of low oil prices.

The writer accompanied these years and monitor the role played by the Central Bank in achieving financial and monetary stability, and the radical changes witnessed by the Central Bank and improve its role locally and internationally. The banking sector remains the focus and attention of the writer as the wheel of the economy, and deepen in all its phenomena and conditions and challenges and ways to promote it, and thus sets a road map for this sector is fully consistent with the plans and directions of the Central Bank to promote this important sector.

 Nusseiri's writings have been marked by candlelight in the darkness of the great challenges facing our country as it gropes for stability and prosperity.

It is a visionary and responsible consciousness that reads reality without separating it from its historical and present conditions. Its visions come as objective, substantive and realistic, as its sensors approach and link the arteries of the economy.

It should be noted that Nasiri has already published six books on the methodology of economic and banking reform and his vision to achieve comprehensive and radical economic reform in Iraq. The book entitled "Light at the End of the Tunnel" is the seventh book.

[yota691]

The central bank goes beyond the technical gap and the challenges of digital transformation

 

Governor of the Central Bank of Iraq Ali Alalak

Articles Samir Al Nusairi * With the utmost confidence and confidence in the ability of the Iraqi financial and technical cadres to overcome the challenges of the technical gap that Iraq has suffered due to the repercussions of the siege, wars and instability during the period of the information revolution.  The Governor of the Central Bank of Iraq, in his opening speech at the Digital Transformation Forum in the financial sector, held in Baghdad with the joint cooperation between the Association of Iraqi Private Banks and the Jordanian-Iraqi Economic Association, in a broad presence of the Jordanian specialized companies, which exceeded 30 companies led by the Jordanian Minister of Digital Economy and Entrepreneurship, And the measures taken by the Central Bank to overcome them and to stand in the right direction in the near economic and security conditions suffered by our country during the past years and chart a sound road to catch up with technical developments in the countries of the world. The follower of the situation of Iraq during the past five years shows the extent of faith in the capabilities and competencies of Iraq on the events of change and bridging the technical gap between us and the developed world and this is evidenced by the achievements of the important and as follows: 1. The methodology adopted by the Central Bank has always focused on working under a sound legislative, regulatory and legal framework, as well as promoting the concepts of governance and international standards regarding information technology and financial techniques. 2. Issuance of the electronic payment system for funds No. 3 of 2014, establishment of the National Payments Council, corporate governance and corporate governance regulations for information and communication technology, and legal regulations and regulations governing the operation of banks and electronic payment service providers. 3 - The Central Bank plays a central role in the establishment of advanced infrastructure and pursuit of the latest global technologies and the development of the bank's financial and banking systems and payment systems and advanced communications networks according to the latest technologies. 4 - the possession of the central bank for advanced payment systems as well as payment structures retail and was the national division of the most important parts. 5 - Granting work permits to many electronic payment providers (card issuers, collectors, processing of mobile payment companies, bill payment and payment gateway through different channels). 6 - Extensive attention to the implementation of the first objective of the strategy of the Bank for the years (2016-2020) is to achieve financial stability through a sound financial system with attention to achieving financial inclusion and reduce risks as well as the adoption of the project to settle the salaries of employees. It is clear from the above achievements that the Central Bank has overcome the challenges of the technical gap due to the siege, occupation and terrorism. It is currently at a steady pace to achieve the digital transformation in the financial sector towards achieving financial stability and moving from the monetary society to the society of money. It is also one of the objectives of the government platform in the fourth axis ). * Bank advisor  Views 57   Date Added 07/11/2019

[6ly410]

[6ly410]

 To the attention of the honorable Prime Minister, the Iraqi economy is built by his sons

 

Samir Nusairi

Articles Samir Al Nusairi * Greetings of respect and respect That the observer and observer of the role of economic institutions during the years of economic and security shocks experienced by Iraq in terms of managing the economy to achieve the goal of stability in the financial system and monetary system to achieve economic stability. It is noted that there are failures, challenges and blurred pages related to the loss of methodology and the lack of clarity of policies and programs and the lack of harmony of strategies prepared in partnership with international organizations and experts and consultants with the Iraqi reality of the Iraqi economy monolithic resources, which depends mainly on oil rent and the result of structural imbalance in the economy because of the deficit Non-oil revenue, deficit in the balance of payments and the continuing wage in public budgets and weak coordination between the fiscal and monetary policies in addition to the mismanagement of public funds and the obvious weakness in the economic leadership of most economic institutions And not to give an active role to the private sector and its involvement in economic decision-making. All the above failures add to the economic stagnation, falling oil prices, the unstable business environment and the war on terror that led to the failure of visions to build a solid national economy capable of drawing the precursors of transition to a market economy. And that the above challenges created the pessimism and gloomy outlook of our economic future in many of our national economic elites and your noble generosity. You were one of those who responded to these challenges by work, thought and pen, but the honorable President of the Council of Ministers. Despite all these challenges, there were bright points, experiences, policies, promising procedures and success experiences of some economic institutions during the lean years, clearly and effectively over the years (2015-2019). One of the brightest points in this process is the experience of the Central Bank of Iraq in supporting the national economy while preserving its independence and its functions and objectives set out in its Law No. 56 of 2004, which is its contribution to supporting the national economy and 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 the liquidation of (700) negative note confirmed on the financial situation and the World Bank report on Iraq for 2012. (2016-2020), the results achieved on the scope of monetary policy applications internally, and the conviction of international financial institutions and organizations. As confirmed in official reports, the success of the central bank's policy of achieving an important transition of the Iraqi economy outside the gray zone (monitoring and review) According to FATF. As far as we are concerned with the economic, financial and banking affairs of the executive procedures and instruments of monetary policy applications, the Bank has played a significant role and a clear and distinguished professional effort based on its team and its economic and financial cadres and experts and its board of directors in supporting the national economy and strengthening the state treasury and its various initiatives and initiatives to revitalize the economic cycle and enhance liquidity. To pay the salaries of employees and the entitlements of contractors and farmers, and to re-establish coordination bridges between the fiscal and monetary policies and propose new economic and structural policies for the preparation of budgets. General for the coming years and attempts to restore confidence in the banking system. The most important achievement is to stabilize the exchange rate of the local currency compared to the US dollar and to maintain the maintenance of foreign reserves sufficient in accordance with the standards of the International Monetary Fund. The Central Bank's management has proved its clear ability to interact and analyze the obstacles to work and create the conditions to overcome the challenges. The road is still long before the Central Bank and the competent government agencies in order to achieve a sound national economy. I urge you to interact with the bright economic points achieved by the Central Bank. Stimulates and supports its steps to work and to make more fruitful efforts for the purpose of implementing what is stated in the government curriculum and completion of achieving the objectives of its main and subsidiary strategy and achieve stability in the monetary system and thus achieve economic stability and build our national economy And the welfare of society. Because the Iraqi economy to its builders except its sons. * Economic consultant Views 91   Date Added 18/07/2019

[southbeach]

bump

[yota691]

Decision of the Council of Ministers (254)

 

Banking Advisor Samir Nusairi

Articles Samir Al Nusairi * We have received the decision of the Council of Ministers with great surprise when he issued a decision to change the management of the Central Bank independent sovereign institution in all countries of the world and the reason for the surprise that the decision to change conservatives in most countries issued because of the inability of the Bank's management to achieve the objectives of monetary policy And failure to achieve central plans in the management of the economy and failure to support and support the national economy in crisis. But what happened to us (inverted), the Central Bank of Iraq achieved during its current administration the objectives of monetary policy and overcome its challenges and achieved stability in the exchange rate and reduce inflation and build foreign reserves at a cumulative rate is the third Arab and bridged the technical gap and moved from manual banking to digital transformation and electronic trading in the sector The most important of which was the liquidation of (700) negative negative observations on the financial and banking situation in Iraq by the World Bank and because of this FATF issued its decision to move from the monitoring and follow-up to the normal follow-up every two years, That improved the international banking reputation of the Iraqi banking sector. I hope that Tzmho me gentlemen , distinguished members of the Council of Ministers As an Iraqi citizen who specializes economy and banking to exercise my constitutional right and legal in our democratic system and discussed with yourselves Gesathat the issuance of your decision and answer following my questions: -  Do you look before the decision on the march of the achievements of the Central Bank His current administration, which has already been mentioned?  Have you discussed why you reward and honor the institutions that served and fulfilled their national duty and achieved economic steadfastness in the near economic and security conditions suffered by our country since the middle of 2014, that the management is changed with our great respect for the alternative candidate?  If you see and discussed this is a disaster and if you do not know and discuss the disaster is greater.  With our respect for your decision, our hope is great for our noble and noble people represented by members of the Iraqi Council of Representatives, especially the Parliamentary Finance Committee, which is the competent authority, which will be informed, discussed and will meet the candidates and will be the decisive decision.  * Bank advisor Views 57   Date Added 07/27/2019

[6ly410]

Decision of the Council of Ministers (254)

 

Banking Advisor Samir Nusairi

Articles Samir Al Nusairi * We have received the decision of the Council of Ministers with great surprise when he issued a decision to change the management of the Central Bank independent sovereign institution in all countries of the world and the reason for the surprise that the decision to change conservatives in most countries issued because of the inability of the Bank's management to achieve the objectives of monetary policy And failure to achieve central plans in the management of the economy and failure to support and support the national economy in crisis. But what happened to us (inverted), the Central Bank of Iraq achieved during its current administration the objectives of monetary policy and overcome its challenges and achieved stability in the exchange rate and reduce inflation and build foreign reserves at a cumulative rate is the third Arab and bridged the technical gap and moved from manual banking to digital transformation and electronic trading in the sector The most important of which was the liquidation of (700) negative negative observations on the financial and banking situation in Iraq by the World Bank and because of this FATF issued its decision to move from the monitoring and follow-up to the normal follow-up every two years, That improved the international banking reputation of the Iraqi banking sector. I hope that Tzmho me gentlemen , distinguished members of the Council of Ministers As an Iraqi citizen who specializes economy and banking to exercise my constitutional right and legal in our democratic system and discussed with yourselves Gesathat the issuance of your decision and answer following my questions: -  Do you look before the decision on the march of the achievements of the Central Bank His current administration, which has already been mentioned?  Have you discussed why you reward and honor the institutions that served and fulfilled their national duty and achieved economic steadfastness in the near economic and security conditions suffered by our country since the middle of 2014, that the management is changed with our great respect for the alternative candidate?  If you see and discussed this is a disaster and if you do not know and discuss the disaster is greater.  With our respect for your decision, our hope is great for our noble and noble people represented by members of the Iraqi Council of Representatives, especially the Parliamentary Finance Committee, which is the competent authority, which will be informed, discussed and will meet the candidates and will be the decisive decision.  * Bank advisor Views 143   Date Added 27/07/2019 http://economy-news.net/content.php?id=17362

[Big_J]

GM 6ly410, YOTA AND DV.

Edited July 27, 2019 by Big_J

[yota691]

In a seminar for the International Company for smart card .. Nasiri: Achieving the objectives of the banking system in the government curriculum is necessary

31/07/2019

 

 

(Independent) .. Economic and banking consultant Samir Nusairi called for extraordinary efforts to achieve the objectives of the banking system contained in the fourth pillar (strengthening the economy) in the government curriculum in accordance with the timetable.

"The need to address banking risks, especially the risks of e-operation, and determine the role to be played by banks and electronic payment companies in order to reduce technical and financial crimes in operations, Electronic payment of electronic cards and ATMs. " 
The banking system 
explained Nasiri goals to be achieved by the banking sector is to develop the Iraqi banking system and enhance confidence with citizens, and turn the banks to its basic function of lending for development, as well as banks that do not provide loans and banking facilities to help development lose its meaning as banks, To be determined by the Central Bank.
He pointed out that the banks are the burden of development and the importance of the Ministry of Finance and the Central Bank to support banks and develop their functions and not rely on the existence of the window of currency, and to move from the economy of paper currency to the economy of electronic currency and electronic, and withdraw funds outside the banking cycle, and the introduction to the banking system. 
Providing loans
"The real role of the banks is to provide loans and banking facilities and move from the role of banking to the developmental role, but there are two important observations must be taken into account with regard to the subject of the provision of loans and banking facilities to stimulate the economy, the first nature of the activities of banks depends on the nature of activities of economic sectors, As long as the economic activity is concentrated in trade (imports), the activity of banks remains focused on external transfers and related ones. So unless the other sectors (industry, agriculture, tourism and others) move to expect diversification of banking activity. 
Serious loans and 
stated that without control of imports will not rise those sectors, which explains the lack of progress on serious loans through the initiative of the Central Bank. 
Legal environment
The second observation requires providing the legal environment and extending the rule of law in order to eliminate the phenomenon of default in the repayment of loans and thus reluctance of banks to provide loans and facilities .. 
Nusiri answered questions about the role of electronic payment companies, saying: "The role of electronic payment companies as companies supported for banking In attributing the government's orientations and the instructions of the Central Bank in achieving the goals of the governmental curriculum. Here, "the research and development activities of the new banking products industry, the improvement of banks' performance through new inputs to modern technologies, D modern banking techniques developed world countries have preceded us to it. "

[6ly410]

4 minutes ago, yota691 said:

and not rely on the existence of the window of currency, and to move from the economy of paper currency to the economy of electronic currency and electronic, and withdraw funds outside the banking cycle, and the introduction to the banking syste

 

[6ly410]

 Al-Nusairi: Calls on the government to activate its decisions to support private banks

 

Banks Economy _ News Baghdad The economic and banking adviser to the Association of Iraqi private banks, Samir al-Nusairi, on Thursday, to activate its decisions on government support for private banks, which was issued previously, but did not implement what was intended to these decisions. Nasiri said, in an interview with "Economy News", that the structure of the Iraqi banking sector consists of 7 government banks account for 86% of total government deposits and the public and 78% of total assets and private banks constitute 70 commercial and Islamic banks and invest 78% of the capital of the banking sector He did not get only 13% of the total profits, pointing out that the goals set for the banking sector in the fourth axis (strengthening the economy) in the government curriculum focused on achieving lending for development and consider banks as a lever of development and building bridges of trust with the public and achieve financial inclusion Introducing the Ntjat and banking services and the practice of real banking and digital transformation of the banking sector in accordance with the time limits specified in the government program. Al-Nusairi stressed, through an analytical view of the reality of the Iraqi economy and the challenges facing the financial and monetary policies, in particular stimulating and revitalizing the economy with bank financing and banking facilities stand in front of its implementation at the present time, despite the great efforts made by the Central Bank since 2016 to implement the objectives of its strategy for the years (2016-2020) The main objectives of which are achieved by the most important structural, structural and technical developments in banks, increase financial inclusion and investment in human capital, and move rapidly towards stability in the monetary system and stability in the exchange rate. Y year and a half. He pointed out that banks also need government support for the purpose of achieving what has been stated in the government curricula taking into account the following, the nature of the activities of banks depends on the nature of the activities of economic sectors, and as long as the economic activity is concentrated in trade (imports) banks activity remains focused on external transfer and related Therefore, unless the other sectors (industry, agriculture, tourism) and others move to expect the diversification of banking activity, we must provide the legal environment and the rule of law in order to eliminate the phenomenon of default in the repayment of loans, where the bad debts amounted to 6 trillion dinars. It constituted a large percentage of the total credit granted and therefore the reluctance of banks to provide loans and banking facilities.  Without control of imports, these sectors will not rise, which explains the lack of serious loans through the Central Bank initiative. The failure to activate the decisions of the Council of Ministers and the Economic Affairs Committee in the Council of Ministers, which had previously been issued to support the banking sector, especially private banks, led to the obstruction of the activities and activities of private banks and significantly affected the liquidity, revenues and deposits for this purpose The role of banks from banking to the developmental role and the revitalization of the banking business requires the government and in particular the Council of Ministers and the Committee on economic Affairs to activate the decisions that have already been issued by the Council of Ministers and the Committee on economic Affairs and is also documented in numbers and the following dates: -   a - Activating all decisions of the Economic Affairs Committee to support private banks, in particular the following:  1- The Ministry of Finance does not accept opening bank accounts for ministries and government departments in private banks and confining them to government banks under its letter 207 dated 31/1/2019. 2. Activate the decision to allow ministries and government departments to open documentary credits in private banks up to $ 50 million without going through the Iraqi Trade Bank.  3. Activating the Council of Ministers Resolution No. 110 of 2009 and the Economic Affairs Committee Decision 141 dated 20/2/2012 regarding the transfer of government documentary credits up to $ 30 million to private banks through the Iraqi Trade Bank.  4. Activating the decision of the Economic Affairs Committee No. 253 for the year 2015.  Regarding the acceptance of sukuk ratified by private banks for payment of insurance, customs duties and taxes.  Secondly: Activating the Council of Ministers Resolution No. 378 of 2018 on collecting government fees in government departments through electronic payment. Third: Activate the Financial Services Court formed in accordance with the Central Bank Law No. 56 of 2004 and the Court may refer the cases that require referral to the competent courts in accordance with the Penal Code in force.  Fourth: Considering the claims of distressed debts owed by customers in private banks are urgent and excellent debts, similar to government debts.  Fifth: In addition to the efforts of the Central Bank, the Government also requires the provision of conditions and measures to assist private banks in obtaining the internationally accredited credit rating and thus strengthening international banking relations with correspondent banks.  Sixth: The Ministry of Finance to compensate the damage in cash and fixed assets lost by the branches of private banks, which amounts to (37) branches in the provinces occupied by the terrorist Daesh and are documented with the Central Bank of Iraq. Seventh: Activating the decisions of the Council of Ministers No. 313 of 2016 and No. 218 of 2017 on the settlement of employees' salaries and requesting the government departments to settle their salaries according to their wishes and not directing them to settle salaries exclusively in government banks. Number of Views 441   Date Added 01/08/2019

  
 http://economy-news.net/content.php?id=17408

[DWS112]

The Private Sector Council is the institutional and legal pillar of economic reform

 

Economic and Financial Advisor Samir Nusairi
  

Samir Al Nusairi *
In light of my study and analysis of the reality of the Iraqi economy and the challenges faced in sixteen years, I reached my vision for economic reform as follows: 
1 - Draw a road map at the level of the strategic and strategic to re-formulate the new economic approach to Iraq, Article 25 of the Constitution to re-evaluate and review the structural, structural, institutional and legislative system of economic management. As well as review and evaluation of the foundations of coordination between the financial and monetary policies and review the structure and presentation of the general budget and the transition from balancing items to budget programs.

2. Adopting the policies set out in the National Development Plan for the years 2018-2022 and the vision of Iraq 2030 and activating the decisions reached by the joint experience committees between the government and the private sector formed by the Council of Ministers in 2015 for each productive economic sector. These decisions are for monitoring, monitoring 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 Council and its functions shall be as specified in the Private Sector Development Strategy for the years (2014-2030). Special efforts are under way by the Ministry of Planning in cooperation with representatives of the private sector and the United Nations Development Program and under the direct supervision and management of the Minister of Planning for the establishment of this Council. The criteria and weights for selecting members of the General Assembly of the Private Sector Council have been reached. His duties in formulating policies, strategies and visions to lead the economy in the coming stage.

5 - Involvement of the private sector in the economic decision-making and representation in the membership of the Council of Ministers and the Council 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.

What is the role of the Central Bank, banks and financial technology companies in achieving financial coverage? 
With the utmost confidence and confidence in the ability of the Iraqi financial and technical cadres to overcome the challenges of the technical gap that Iraq has suffered due to the repercussions of the siege, wars and instability during the period of the information revolution.

The Central Bank, banks and technical companies have been able to overcome the challenges of the technical gap between Iraq and the rest of the countries with sound procedures and mechanisms and to move in the right direction in the near future economic and security conditions that our country has suffered over the past years and charting a sound roadmap to catch up with technical developments in the countries of the world.

That the follower of the situation of Iraq during the past five years, the extent of faith in the capabilities and competencies of Iraq on the events of change and bridging the technical gap between us and the developed world and this is evidenced by the achievements of important as follows:

1. The methodology adopted by the Central Bank has always focused on working under a sound legislative, regulatory and legal framework, as well as promoting the concepts of governance and international standards regarding information technology and financial techniques.

2- Issuing the electronic payment system for funds No. 3 of 2014, establishing the National Payments Council, the rules of corporate governance and management of information and communication technology, and the legal regulations and regulations governing the work of banks and electronic payment service providers.

3 - The Central Bank plays a central role in the establishment of advanced infrastructure and pursuit of the latest global technologies and the development of the bank's financial and banking systems and payment systems and advanced communications networks according to the latest technologies.

4 - the possession of the central bank for advanced payment systems as well as payment structures retail and was the national division of the most important parts.

5- Issuing work permits for many electronic payment service providers (card issuers, collectors, processing of mobile payment companies, bills and payment channels through different channels).

6 - Extensive attention to the implementation of the first objective of the strategy of the Bank for the years (2016-2020) is to achieve financial stability through a sound financial system with attention to achieving financial inclusion and reduce risks as well as the adoption of the project to settle the salaries of employees.

It is clear from the above achievements that the Central Bank has overcome the challenges of the technical gap due to the siege, occupation and terrorism. It is currently at a steady pace to achieve the digital transformation in the financial sector towards achieving financial stability and moving from the monetary society to the society of money. It is also one of the objectives of the government platform in the fourth axis ).

* Economic and banking consultant

Views 37   Date Added 08/03/2019
 

 

[yota691]

Banking Reform in the Government Curriculum

Monday 05 August 2019 53

 

 

Samir al-Nasiri

 

In the fourth pillar of the government curriculum (strengthening the economy), the government timetable for the private and public banking sector was defined and policies were set to implement the following objectives: Developing the Iraqi banking system and enhancing the confidence of citizens in it, and transforming banks into their primary function of lending for development Loans and banking facilities that assist in development lose their meaning as banks, which requires a specific attitude towards them from the Central Bank.

The government program identified the importance of seeking to move from a paper currency economy to a symbolic and electronic currency economy and to withdraw funds outside the banking cycle and introduce them into the system. 

Banking.

Although all of the above mentioned objectives, although the period set for implementation according to the government timetable range from 1 to 4 years, the strategy of the Central Bank for the years (2016-2020) has achieved many of the objectives of the government curriculum, and set the policies and standards necessary to achieve the objectives in stages. It led to the evaluation and classification of banks based on their achievement of planned objectives.

There are banks that are moving towards the required development, and banks still need an additional period of time to achieve the objectives and others are now making extraordinary efforts from the bank to centralize and manage these banks to rehabilitate them.

What is important to us here is the real functional role of banks in providing loans and banking facilities and the transition from the role of banking to the developmental role, there are two important observations to be taken into account in relation to the issue of providing loans and banking facilities to stimulate Economy.

The first is that the nature of banking activities depends on the nature of the activities of economic sectors, and as long as the economic activity is concentrated in trade (imports), the activity of banks remains focused on external transfer and related .. Therefore, unless other sectors move industry, agriculture, tourism and others to expect diversity of activity

 Banking.

It is worth mentioning that without controlling imports, these sectors will not rise, which explains the failure to apply for serious loans through the Bank's initiative.

 Central.

The other point requires the need to provide the legal environment and the extension of the rule of law in order to eliminate the phenomenon of default in repayment of loans and thus the reluctance of banks to provide loans 

And facilities.