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Monetary Policy Harvest (2016-2019)


yota691
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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.


Views 34   Date Added 24/04/2019

 
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International Smart Card Company contributes to financial inclusion

International Smart Card Company contributes to financial inclusion 14762


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.

Views 175   Date Added 04/24/2019

http://economy-news.net/content.php?id=16399

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Alaq is deputy chairman of the Board of Governors of the Arab Monetary Fund

http://www.economy-news.net/content.php?id=16467

Samir Nusairi

 

On April 25, the Arab Monetary Fund (AMF) organized the tenth session of the Council of Arab Ministers of Finance to discuss the support of small and medium enterprises, the requirements of developing social security systems, strengthening public debt management and benefiting from modern technologies to improve tax systems and services and follow up progress in the Arab clearing project. During the session, the Governor of the Central Bank of Iraq, Mr. Ali Mohsen Al-Alak, was elected as Deputy Chairman of the Board of Governors of the Arab Monetary Fund at its current session and as Chairman of the Board for the next session.

The renewal of confidence by the Arab banks that are members of the Fund with the Iraqi economy and the efforts exerted by its national economic institutions, in particular the evaluation of the great role of the Central Bank of Iraq during the past four years on the level of internal construction and development in the applications of monetary policy and the level of building strong international financial and banking relations with The Arab countries and foreign countries where the institutions were able to achieve clear achievements during the economic and security shocks experienced by Iraq after the middle of 2014 and contributed to the economic steadfastness, which helped our armed forces to achieve the text On the expeditious terrorism.

Therefore, through the review, analysis and evaluation impartially and transparently of the Iraqi economic situation and in particular is being investigated by the ministries and economic institutions in Iraq from a competent point of view has been reached facts and evidence and signs and achievements confirm that the Central Bank of Iraq proved to be the first economic institution through its important achievements in supporting the economy And achieve economic steadfastness and strive to achieve economic stability in accordance with its strategy and this is achieved by the work and reality and the team of the Central Bank of Iraq National Excellence. As he contributed to the victory of victory over terrorism accompanied by another victory is the steadfastness and economic victory, which was the team of the Central Bank of Iraq and its governor a key role and leading in achieving.

And the economic victory achieved results, most notably the most important support the state treasury and stabilize the exchange rate and recovery of the Iraqi dinar and reduce inflation and maintain the rate of less than (2%) and maintain a cash reserve sufficient by 160% as cumulative accumulator according to the latest standard of the IMF with a reserve of gold within The adoption of standards and controls in line with the requirements of international standards in compliance and combating money laundering and terrorism financing and the basic objectives and subsections of its strategy and the activation and consolidation of new visions of monetary policy applications and the important thing achieved is stability Exchange rate and reduce the gap between the official price of the US dollar and the parallel price, a key objective of monetary policy.

And the implementation of policies to restore confidence in the banking transactions of Iraqi banks with Arab and foreign banks and the quest to build a solid banking sector and the continuation of extraordinary efforts to improve the banking reputation of institutions and international financial organizations and correspondent banks.

The establishment of strong relations with the Arab and foreign central banks and the international financial organizations. Also, procedural, regulatory, structural and internal development policies have been drawn up , which aim at achieving financial stability and developing the banking business technically, structurally and organizationally and raising the financial coverage to the target ratio. And the mechanisms of banking which formed a solid base on the domestic and external scale. It was all these achievements that called on the governors of the Arab banks to elect the relations of Na'aba and the President of their Council in the next session, which is an embodiment that Iraq's economy is recovering and recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions.

 
Views Date Added Date 29/04/2019
Edited by 6ly410
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  • yota691 changed the title to Nusseiri: proposes new banking products to achieve financial inclusion
 
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Economy News _ Baghdad

Economic and banking consultant Samir Nusairi on Wednesday called on the international smart card company to add new banking products to achieve financial coverage. 
Al Nusairi said in a lecture at the International Smart Card Company, which was attended by "Al-Iktissad News", it should include a wide range of young people, university students, new graduates, entrepreneurs and farmers, and switch from the card to the green in a smooth manner, Their inclusion in loans and modern banking, prompting them to seek to change their yellow cards.
He stressed that the implementation of the work of these products will lead to a rise in the financial coverage to double the current rate of 23% according to World Bank indicators, which will make the contribution of electronic payment companies operating in Iraq, in particular the global company, which will be an active role and the actions of the Central Bank in the implementation of the national strategy of total financial . 
Al Nusairi suggested that in order to achieve this expansion of cash credit granted the need to switch from the first generation yellow card to the green card within a period of time not exceeding 2019 for employees with ki cards and a smooth and inexpensive procedure for the subscriber services. In accordance with a timetable that ensures the facilitation of card holders, especially pensioners, who make up the bulk of customers in coordination with the National Pension Authority, which will raise the current coverage ratio to more than doubled.
He pointed out that the company, in coordination with Rafidain Bank and other banks contributing to the initiative of financing the SMEs of the Central Bank and the exploitation of liquidity coupled with the operational capacity of the company and infrastructure to find new banking products to include new segments of loans, including 68 thousand small and medium projects, Planning and the central bank, and focus on the university students in the private colleges to grant them loans to pay tuition fees and theses master's and doctoral dissertations and the guarantee of the Association of civil universities and an agreement with them to deposit the balances of universities In Rafidain Bank or private banks and as is the case in some countries.
He pointed out that the company should seriously consider moving to the low income segments, especially the peasants who live in the districts and regions to grant them loans for the import of cows for breeding purposes and use them to produce milk in coordination with the Agricultural Bank to benefit from the experiences of K in the field. For dairy plants and thus linking the borrower to production and development.


Views 30   Date Added 08/05/2019

 
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The future ... begins now

 

 

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Samir Nusairi


Samir Nusairi

The future begins with the slogan of a joyous and joyous celebration held in a Ramadan evening organized by the Iraqi Pioneers Organization for the awarding of prizes which were won by nine pilot projects presented by the promising youth from several governorates and the winning projects selected by a jury of experts and experts. These projects were distributed in various fields that dealt with problems Environmental, agricultural, service and technical, including the smart container projects and Akvl Nakhla and my friends and plant tissue culture and electronic capsule and the application of the garage and shops and speed and service 6262 and all these projects are pioneering and innovative projects and provide great services to the community. The most important event in the celebration is the initiative of the Central Bank of Iraq and the Association of Banks to sponsor and support this celebration in line with the achievement of the objective of community initiatives in empowering young people and entrepreneurs and helping them to secure the appropriate business environment to start projects and finance and develop them to contribute to achieving sustainable development.
The Governor of the Central Bank, who was present at the celebration, announced that the projects will be supported by special funds from the Tamkeen Fund. The Fund will also contribute to the financing of some pilot projects in order to start and develop. Thus, the Bank of Assyria financed one of the winning projects to encourage and motivate the young volunteers. The energy and creativity and build a new future only sons and national entrepreneurs in it. And work to provide business incubators to support young people and develop their skills and build their capacity to develop their small and medium enterprises and achieve the goal of development and economic. And the most important Malft my view and looked at the celebrants in the celebration are the situations of joy and hope and the future that has now begun. Yes, this national sense of the moment when the youth triumph and achieve the dream that he saw him on the ground.
 The youth were delighted by the Governor of the Central Bank, Ali Al-Aalak, and his great gift was the adoption by the Central Bank and Tamkeen Fund to announce the readiness for care and continuous support to motivate and empower our youth. The celebration emphasized that such initiatives are national practices to serve the national economy and serve youth to take their leadership positions. .
Because Iraq is about to move to a new stage in overcoming the stage of the financial and economic crisis to a new stage of the post-urgent. The lessons learned from the experiences of the peoples and the developed countries politically and economically relying on the Iraqi youth are efficient and ambitious and enlightened in leading the institutions of the national economy and in particular the economic market a new methodology depends on the vitality and determination to overcome the challenges and focus on young people insured by his homeland Iraq beloved Iraqi people and the father in the sound construction of the economy In a new spirit that carries all the aspirations of the youth and provide the best services and products to the public in accordance with a vision of the development of the policies and programs and visions and be the slogan of all Iraqis (the future begins now).

Views 53   Date Added 16/05/2019

 

http://economy-news.net/content.php?id=16637

 

 

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  • yota691 changed the title to The future ... begins now

Not sure its posted yet .....http://economy-news.net/content.php?id=16637..........The future ... begins now.. ............

The future ... begins now
 
15171.jpg
 

Samir Nusairi
 

The future begins with the slogan of a joyous and joyous celebration held in a Ramadan evening organized by the Iraqi Pioneers Organization for the awarding of prizes which were won by nine pilot projects presented by the promising youth from several governorates and the winning projects selected by a jury of experts and experts. These projects were distributed in various fields that dealt with problems Environmental, agricultural, service and technical, including the smart container projects and Akvl Nakhla and my friends and plant tissue culture and electronic capsule and the application of the garage and shops and speed and service 6262 and all these projects are pioneering and innovative projects and provide great services to the community. The most important event in the celebration is the initiative of the Central Bank of Iraq and the Association of Banks to sponsor and support this celebration in line with the achievement of the objective of community initiatives in empowering young people and entrepreneurs and helping them to secure the appropriate business environment to start projects and finance and develop them to contribute to achieving sustainable development.
The Governor of the Central Bank, who was present at the celebration, announced that the projects will be supported by special funds from the Tamkeen Fund. The Fund will also contribute to the financing of some pilot projects in order to start and develop. Thus, the Bank of Assyria financed one of the winning projects to encourage and motivate the young volunteers. The energy and creativity and build a new future only sons and national entrepreneurs in it. And work to provide business incubators to support young people and develop their skills and build their capacity to develop their small and medium enterprises and achieve the goal of development and economic. And the most important Malft my view and looked at the celebrants in the celebration are the situations of joy and hope and the future that has now begun. Yes, this national sense of the moment when the youth triumph and achieve the dream that he saw him on the ground.
 The youth were delighted by the Governor of the Central Bank, Ali Al-Aalak, and his great gift was the adoption by the Central Bank and Tamkeen Fund to announce the readiness for care and continuous support to motivate and empower our youth. The celebration emphasized that such initiatives are national practices to serve the national economy and serve youth to take their leadership positions. .
Because Iraq is about to move to a new stage in overcoming the stage of the financial and economic crisis to a new stage of the post-urgent. The lessons learned from the experiences of the peoples and the developed countries politically and economically relying on the Iraqi youth are efficient and ambitious and enlightened in leading the institutions of the national economy and in particular the economic market a new methodology depends on the vitality and determination to overcome the challenges and focus on young people insured by his homeland Iraq beloved Iraqi people and the father in the sound construction of the economy In a new spirit that carries all the aspirations of the youth and provide the best services and products to the public in accordance with a vision of the development of the policies and programs and visions and be the slogan of all Iraqis (the future begins now).

Views 288   Date Added 05/16/2019

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9 hours ago, 3n1 said:

looking forward to get off the back stage with the new stage to the front stage  :cigar:

 

Sounds like you're talking " Rocket Science " with all them that stages & such . . . which by the way, is far too difficult for these simple minds. ;)

Sadly we know there are those within the GOI that really want to drive the reforms, yet the senior criminal minds just want to keep the same game rolling along and to hell with everything and everyone else.

 

I hope they pull the trigger before we've all crossed over to the " Happy Hunting Grounds " :deadhorse:

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

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