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Economist: the signing of the relationship on the currency "no clear and no light"


yota691
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1 minute ago, juliebug said:

Al-Sarraf has very different views on religion...not a typical Muslim.

https://centerforinquiry.org/blog/muslim_secularists_of_kuwait-_ahmad_al-sarraf/

I think this guy is from Kuwait - not same guy.  I saw where an Al-Sarraf was on the Board of an Iraqi Islamic Bank.

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I think the CBI governor Alaq wasn't smart enough to do the things that needed to be done, even with all his worldly trophies an honors he still lost his job. If he would have stopped the auctions an given the slaves more purchasing power with their Dinar he might still be employed. He will be joining Abadi in the unemployment line because neither did the right thing, both did a lot of good things just not the right one...

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35 minutes ago, Shedagal said:

Remember in 2012 when Shabibbi was ready to RV, so Maliki had him arrested and took control of the CBI?  I see all of this now as cleaning house (sort of like draining the swamp).  I think this is a great move.

 

Totally agree with you.  Many pluses at ya!

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I think this may be the guy.  I don't think he's a banker.  Only a member of the Board of Directors.

 

Iraqi Islamic Bank for Investment and Development (BIIB)

Last update: 15 November 09:57 AM market time.
0.35
0.00
0.00%
Open0.35
Previous Close0.35
High0.35
Low0.34
Stock Statistics
Volume3,046,893
Turnover1,047,943.63
All data are 15 minutes late during market session

General Information

dd982d5d41a032f10f2917f04a3e26c9.jpg
Company NameIraqi Islamic Bank for Investment and Development (BIIB)
Company PurposeIraqi Islamic Bank for Investment and Development (known as: I I B) is a public company, listed on Iraq Stock Exchange since July 2004. I I B operates within the banking sector. It has one subsidiary operating across Iraq, working on apparel, accessories & luxury goods. I I B is based in Baghdad, Iraq and was established in December 1992.
Company Establish Date19 December 1992
Financial Year StartFirst Quarter
Auditor
  • Adel Al Hasson & Co.
  • Adel Ismaeil Hassan El Sheiney Office

Ownership

  • Humam Thamer Kazem Al Attar (89.58%)
  • Abdul Salam Mourad Jouayed (9.808%)
  • Fawz Al Khaleeg For Electronic trading and General trading (9.70%)
  • Walid Ahmed saeed Ali (9.60%)
  • Mohamed Walid Ahmed saeed (9.60%)
  • Wasn Walid Ahmed Saeed (9.50%)
  • Rajha Abdul Jabbar Ahmed (9.40%)
  • Al Jirar for Real Estate Investments (9.20%)
  • Shaimaa Tawfiq Ahmed Al Sallou (5.70%)
  • Mustafa Hussein Mohamed (5.60%)
  • Saif Adi Rafik Al Qadi (4.90%)
  • Sarwa Amer Khudair (4.90%)
  • Arkan Mahmoud Jawad Hussein (4.41%)
  • Ahmed Saad Ghanem (0.023%)
  • Ahmed Walid Ahmed (0.0077%)
  • Ehsan Ali Kazem (0.0004%)
  • Eyad Abdel Aziz Ali (0.0004%)

Management

Ahmed Walid AhmedChairman
Yasser Mahmoud HameedDeputy ChairmanRepresents Al Jirar for Real Estate Investments
Abdul Salam Mourad JouayedBoard Members
Ehsan Ali KazemBoard Members
Ahmed Saad GhanemBoard Members
Arkan Mahmoud Jawad HusseinBoard Members
Hassan Ali AbdBoard MembersRepresents Miles Accuracy for General Trading
Ahmad Saad Al Sarraf Board MembersRepresents Al Sarraf for General Trading
Humam Thamer Kazem Al AttarBoard Members
Eyad Abdel Aziz AliBoard Members

Subsidiaries

  • Ready Made Clothes Co (9.90%)

Contacts

Address14 Ramadan Street, Al Mansour District, P.O Box 6003, Baghdad ,Iraq.
Phone+964 1 5429008
Fax
Contact Person
Edited by Floridian
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1 hour ago, Floridian said:

"The sources added that Abdul Mahdi assigned the Iraqi businessman Ahmad Al-Sarraf to the post of governor of the Central Bank."

====================================

Iraqi Business man?

No Central Bank experience?

Does this mean he has to "get up to speed" before we have an RV?

AND.......how long is THAT gonna take?

 

In the Coming Years .... right about the time it looked somewhat promising for a RI/RV and then they pull this stunt. WOW ! 

 

 

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1 hour ago, 10 YEARS LATER said:

 

In the Coming Years .... right about the time it looked somewhat promising for a RI/RV and then they pull this stunt. WOW ! 

 

 

 

I seem to remember a business man with absolutely no experience in government being elected president of the United States.  Within 3 months the US economy started recovering from the disaster of the last 8 years.  Now look at where our economy is now.  Could there be a correlation????

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4 minutes ago, TexasMike1958 said:

 

I seem to remember a business man with absolutely no experience in government being elected president of the United States.  Within 3 months the US economy started recovering from the disaster of the last 8 years.  Now look at where our economy is now.  Could there be a correlation????

Thank you!!!  Absolutely right!

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13 minutes ago, TexasMike1958 said:

 

I seem to remember a business man with absolutely no experience in government being elected president of the United States.  Within 3 months the US economy started recovering from the disaster of the last 8 years.  Now look at where our economy is now.  Could there be a correlation????

 

I don't think there's a correlation.  This guy has to know how to run a Central Bank.

The POTUS has all sorts of advisors and Congress and Senate and the press to call him out when they don't like something.

The CBI is supposed to be independent, although who knows if they really are (in Iraq).

 

 

He's in the business of ready-made clothes.

 

Subsidiaries

  • Ready Made Clothes Co (9.90%)
Edited by Floridian
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1 minute ago, Floridian said:

 

I don't think there's a correlation.  This guy has to know how to run a Central Bank.

The POTUS has all sorts of advisors and Congress and Senate and the press to call him out when they don't like something.

The CBI is supposed to be independent, although who knows if they really are (in Iraq).

 

It was just a thought

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2018-11-16 BY SOTALIRAQ

 

 

News on the removal of the Governor of the Central Bank of Iraq from his post

 

 

Informed media sources said on Friday that Prime Minister Adel Abdul-Mahdi has sacked the governor of the Central Bank of Iraq acting on the links.

The sources said today that information indicating the signing of Abdul Mahdi to dismiss the ties from his post against the backdrop of the recent confirmation of the damage of 7 billion Iraqi dinars water.

The sources added that Abdul Mahdi assigned the Iraqi businessman Ahmad Al-Sarraf to the post of governor of the Central Bank.

The relations had said on Monday during hosting the parliament that the amount of 7 billion Iraqi dinars (5 million 882 thousand dollars) was damaged by 100 percent, due to leakage of rainwater to the coffers of Rafidain Bank, reducing the importance of the matter because the amount is worth only the cost of printing .

The statements made by the Governor of the Central Bank of Kuwait have been widely discussed and questioned about the quality of the currency and the place of deposit, and the measures that the Bank provides to protect local currency against damage caused by any opposition to it.

About two months ago, the governor of the Central Bank Ali al-Alaq raised a great controversy after putting his name on the Iraqi currency instead of signing, in an unprecedented precedent since the establishment of the Iraqi state in 1920.

A month before the end of the government in March 2016, Prime Minister Nuri al-Maliki appointed the Secretary-General of the Council of Ministers Ali Al-Alaq as Governor of the Central Bank.

https://www.sotaliraq.com/2018/11/16/أنباء-عن-اقالة-محافظ-البنك-المركزي-الع/

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16 minutes ago, TexasMike1958 said:

 

I seem to remember a business man with absolutely no experience in government being elected president of the United States.  Within 3 months the US economy started recovering from the disaster of the last 8 years.  Now look at where our economy is now.  Could there be a correlation????

The business man with no experience inherited a growing economy     2008 gave Obama 9% unimployment   a economy on the edge of a depression   Foreclosure rates high very high and 2016 when he left office the unemployment rate was below 5% stock market 

had increased    Iraq had defeated. ISIS  the first half of Mosul dec 2016  

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Alak Keywords whatever his name is had zero experience , when shabibi was gov. the cbi proudly listed all his credentials try and find anything on Alak's financial banking background , to me i dont care who sits in the chair the real central bank levers now are pulled by others in world financials , shabibi imo set all the groundwork for the banks planned progress , the imf world bank ect.is closely involved outside of a few no one knows the cbi banks future timeframes we are all simply riding the coattails in hopes of a positive outcome   thankful for all who keeps the news flowing ..... all the best dv

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Ok, many of us have posted a ton of articles on Alak and the situation of the flooded 7 to 12 Billion damaged Iraqi Dinar.  The damage has truly no moetary loss . As Alak has stated the notes were already set to go back to the CBI for destruction.    In banking we call that mutilated money.  Destroying mutilated money is a common pratice by all central banks.  No currency lasts forever in the markets. The destruction according to the CBI and Rafadian happened under Turki's watch.  Sooo what is the real reason Alak is being attacked.    In 2012, Maliki. had appointed Abdul Basset Turki as a replacement of Shabibi, which was totally illegal because Turki was then to hold two offices, the Governor of the CBI and the Presidency of the office of Financial supervison,  which was unconstitutional. Turki held that position from 2012 until Abadi was about to be named Prime Minister, after winning the election.  Days before Abadi actually took the helm, Maliki replaced Turki with Alak who at that time was the General Secratary of the Cabinet.  The CBI website  use to desribe Alak as the Acting Governor of the Central bank.  Now he is the described as the Actual Governor, yet the IMF and World bank Documents describe Alak as the acting Governor.  IMO, Abadi could  have replaced Alak at anytime, but, The GOI needed money to fight ISIS, because Maliki whether intentional or just by incompetence, had allowed Mosul to be captured by ISIS. Plus Alak, Maliki, Abadi were all member of the Dawa party.  Now the Dawa have little say in the Government.  The IMF allowed Alak to lend money to the Ministry of Finance to pay for the war on ISIS. and maybe that's why Abadi never addressed the Governor's position.  Alak, also has gone from the grade of D up to  B in the category of competency for Central Bankers in three years. Plus Alak, Maliki, Abadi were all member of the Dawa party.  Now the Dawa have liitle say in the Government.  Soooo why now would Alak be under scrutiny?

 

 

1. He's just the acting Governor of the CBI and the New Government wants a True Governor Like Shabibi, someone who's competent.

 

2. He  allowed corruption under the foreign currency auctions to loose Billion.

 

3. He ran with monetary inclusion policy instead unpegging from the dollar, moving into article VIII, allowing the Dinar to float, and internationally traded which caused the loss of  Billions in CBI reserves.

 

4. He's complying with US sanctions on Iran.

 

 

 

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4 hours ago, 6ly410 said:

Abadi was a great prime minister imo .. he really united Iraq against isis.. imo 

I agree with you 6ly410, I believe he did an outstanding job considering what he started with and I’ve been a bit nervous since he wasn’t re-elected. But Iraq is Iraq, crazy. 🤯

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  • yota691 changed the title to Economist: the signing of the relationship on the currency "no clear and no light"

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