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CBI signs MOU with Yunin B International International   July 4, 2018  Banks Economy News Baghdad:

Number of readings 26 Section: Iraq   CBI signs MoU with Yunin Bi International     Baghdad, July 4, 2018 - The Central Bank of Iraq (CBE) announced today the signing of

From a cash society to an electronic society.   Iraqi banking system continues moving forward with the implementation of electronic payment.   Electronic payment means less physica

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President of the Association of Private Banks: The strategy of the Central Bank has overcome difficulties in front of banks

  

 Banks

Economy News Baghdad:

The President of the Association of Iraqi private banks, Wadih al-Hanalal, that the strategy of the Central Bank of Iraq 2016-2020 has a great depth and helped to overcome difficulties in the work of banks.

"The central bank's strategy for the years 2016-2020 has a very deep depth, which reflected positively on the work of banks and put difficulties in front of him," said Al-Hantal in his speech during the session of "Investment Partnership" within the forum of investment and reconstruction opportunities in Iraq. "The Central Bank applies the recommendations that come out of the conferences in addition to visions of the World Bank."

He pointed out that "the Central Bank introduced the follow-up department and had a significant impact in the implementation of its decisions, which reflected positively on the banking sector."

He pointed out that "the visit of the Bahraini banks to Iraq has not occurred since 1980 and has opened important doors and we hope that the Bahraini banks to be correspondent banks."

He pointed out that "the Central Bank is the strategic partner and the big tent of the banks and because of its directions, Iraqi banks have international accounting standards in addition to the implementation of the requirements of the global financial system."

He noted that "the Association of Iraqi private banks trained 1800 people to the best international standards, in addition to training the youth through the course of empowerment and employment in the banking sector."

"For the first time, banks have participated in community initiatives, and the initiative of Baghdad to rehabilitate 20 fields has been funded by the private banking sector as well as the initiative support fund."

 

Views 82   Date Added 26/04/2018

http://economy-news.net/content.php?id=12105

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4 hours ago, Butifldrm said:

He pointed out that "the Central Bank is the strategic partner and the big tent of the banks and because of its directions, Iraqi banks have international accounting standards in addition to the implementation of the requirements of the global financial system."

 

Time to implement!

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Iraq 's economy reveals the value of its assets at the Central Bank

Iraq reveals the value of its assets at the Central Bank
 
 Twilight News    
 
 6 hours ago
 
 

The Central Bank of Iraq governor Ali al-Alak on Thursday revealed the total assets in banks operating in the country.  

"The total assets in the banks operating in the country amounted to 200 billion dollars," Al-Alak said in a speech at a session of "Investment Partnership" in the forum of investment and reconstruction opportunities in Iraq.

He added that "the monetary credit provided by banks amounts to 30 billion dollars, and this figure is less than the credit of the contract," noting that "the central bank ordered the banks to amend the organizational structure and the establishment of risk units and combating money laundering and financing of terrorism and others, and the bank has developed the system of payments and will be launched soon payment Mobile phone ".

"Last year, we launched the unified system known as IBAN for all accounts. Iraq is one of the 47 countries in the world that implements this system, which facilitates the process of transferring money," he said.

He added that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."

He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price and this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment."

He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."

 
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Yes indeed Navira45! The vibes are good right about now and you can certainly feel something is gonna happen soon! I saw somewhere on here long ago they update their rates in April and Sept. And just yesterday someone posted about that same topic. I think we are close 

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...cancel the marginal price of the dollar and make it equal to the official price...

(Is there some way to construe that sentence to translate as 1:1 ????)

...."the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities....

(again, are they saying that  ideal rate for exchange is a dollar, because it's an "ideal price"  and gives confidence...aka... my dinar is worth as much as a dollar??????)

 

 

 

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43 minutes ago, hawk-eye-view said:

...cancel the marginal price of the dollar and make it equal to the official price...

(Is there some way to construe that sentence to translate as 1:1 ????)

 

...."the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities....

(again, are they saying that  ideal rate for exchange is a dollar, because it's an "ideal price"  and gives confidence...aka... my dinar is worth as much as a dollar??????)

 

 

 

I saw the same thing. My Angel card today was CELEBRATION....Please Dear Lord!

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43 minutes ago, navira45 said:

The CBI is pretty much telling us that they are ready for any impact that this (rv) may have on the market...they are ready indeed.

 

Totally agree navira45, spot on 👌

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48 minutes ago, navira45 said:

The CBI is pretty much telling us that they are ready for any impact that this (rv) may have on the market...they are ready indeed.

 

4 minutes ago, Wiljor said:

 

Totally agree navira45, spot on 👌

For sure Wiljor - Spot On.  :eyebrows:

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Central Bank Governor: Inflation rate does not exceed 2%

Economie

 Since 2018-04-26 at 19:03 (Baghdad time)

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Baghdad - Mawazine News

The governor of the Central Bank Ali Al-Alak, on Thursday, the arrival of total assets in banks operating in the country to 200 billion dollars, while he pointed out that the inflation rate in Iraq does not exceed 2%. 

Al-Alak said in a speech at a meeting of "partnership in investment" in the Forum of investment opportunities and reconstruction in Iraq, "The cash credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract."

He added that "the central bank ordered the banks to amend the organizational structure and the establishment of risk units and combating money laundering and the financing of terrorism and others, and the bank has developed the payment system and will soon launch payment by mobile phone."

"Last year, we launched the unified system known as IBAN for all accounts. Iraq is one of the 47 countries in the world that implements this system, which facilitates the process of transferring money," he said.

He added that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."

He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price and this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment."

He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."

On Thursday, the National Investment Commission signed agreements to establish investment projects with foreign and Arab companies during the Investment Opportunities Forum in Baghdad

http://www.mawazin.net/محافظ-البنك-المركزي-نسبة-التضخم-لا-تتجاوز-2

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2 minutes ago, Butifldrm said:

Central Bank Governor: Inflation rate does not exceed 2%

Economie

 Since 2018-04-26 at 19:03 (Baghdad time)

000221.jpg

Baghdad - Mawazine News

The governor of the Central Bank Ali Al-Alak, on Thursday, the arrival of total assets in banks operating in the country to 200 billion dollars, while he pointed out that the inflation rate in Iraq does not exceed 2%. 

Al-Alak said in a speech at a meeting of "partnership in investment" in the Forum of investment opportunities and reconstruction in Iraq, "The cash credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract."

He added that "the central bank ordered the banks to amend the organizational structure and the establishment of risk units and combating money laundering and the financing of terrorism and others, and the bank has developed the payment system and will soon launch payment by mobile phone."

"Last year, we launched the unified system known as IBAN for all accounts. Iraq is one of the 47 countries in the world that implements this system, which facilitates the process of transferring money," he said.

He added that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."

He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price and this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment."

He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."

On Thursday, the National Investment Commission signed agreements to establish investment projects with foreign and Arab companies during the Investment Opportunities Forum in Baghdad

http://www.mawazin.net/محافظ-البنك-المركزي-نسبة-التضخم-لا-تتجاوز-2

Now I’m getting emotional! The only reason for a LOP is to control inflation..... so they’re about to support the purchasing power of the citizen, they have 200 Billion in reserves the same as when they were at their former glory, and they want stability ( no float) 

 

sounds like fat fat lady is clearing her throat behind the velvet curtain

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11 minutes ago, NEPatriotsFan1 said:

Now I’m getting emotional! The only reason for a LOP is to control inflation..... so they’re about to support the purchasing power of the citizen, they have 200 Billion in reserves the same as when they were at their former glory, and they want stability ( no float) 

 

sounds like fat fat lady is clearing her throat behind the velvet curtain

 

NEP she better not be clearing her throat she better be starting to hum the tune we are waiting for.  Draft time maybe the guru's will say it didn't happen cause the one team didn't draft the right player.  You know it's coming.  :jester:

 

SR

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 Banks


Economy News Baghdad:

The Central Bank and the Association of Iraqi private banks, Thursday, an exhibition of Iraqi banks on the land of Mansur College University within the activities of financial inclusion.

The Dean of Mansur College, Dr. Abdul Rasool Abdul Jassim, said in an interview with "Economy News" on the sidelines of the activities of financial inclusion, that "Mansur College in cooperation with the Association of Iraqi private banks organized today to identify the importance of the concept of financial comprehension and the mechanism of the banks through the use of technologies Modern and approved by international banks and the use of electronic payment tools and the opening of bank accounts .

He added that "many of our students today are suffering from lack of knowledge of the mechanisms used in opening accounts and the use of credit cards," explaining that the banks participating in the events are (the Rasheed Bank and the Union and Babil, Ashur, Kurdistan and commercial and the Iraqi Islamic south and Alahli) in addition to the two companies Amwal and the gate of Iraq .

He pointed out that "the students of the College were able today to see the latest banking methods in place by the government and private banks in the event held in cooperation with the Central Bank and the Association of Private Banks ."

 

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Views 408   Date Added 04/26/2018
 
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Thursday, April 26

 

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Baghdad 
- The International Development Bank for Investment and Finance announced on Thursday that it has been granted a membership license from Visa Card International for the first time from inside Iraq . 

"The International Development Bank for Investment and Finance has held a major celebration by granting a membership license from Visa Card International to issue cards for the first time from inside Iraq," the bank's management said in a press release.

 

 


"The license was signed between the International Development Bank, represented by the Chairman of the Board of Directors Ziad Khalaf Abd and the Director General of VISA Card for North African and Mashreq countries represented by Tareq Ezzeddin Al Husseini." 

The administration said in its statement that "the celebration was attended by high-level figures from the Central Bank of Iraq , representatives of the Union of Arab Banks, the Association of Iraqi Private Banks, the Iraqi Stock Exchange, and a large number of managers of Iraqi and Arab banks, including representatives of international audit companies Ernest and Una and KPMG "He said.

The administration said that "this step comes in light of the continuation of the bank led the revolution of the transition to electronic payment, and support for the initiative of the Central Bank of Iraq in the project to settle salaries for employees of the government sector, and implementation of the decision of the Secretariat of the Council of Ministers," noting that "the International Development Bank is a race in The electronic payment process for its huge and comprehensive infrastructure enabling it to diversify the provision of electronic banking services. " 

"The International Development Bank has made great achievements in the field of financial technology to reach the requirements of the Central Bank of Iraq," said Ziad Khalaf Abdul, during his speech at the celebration, adding that "this signature would not have been made without a study by Visa Card to choose the most bank Suitability and conformity with the standards of international banks ".

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  • yota691 changed the title to Ki: Electronic payment supports economic reform

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