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What if the central bank stopped selling the dollar?

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 Banks


Economy News _ Baghdad

The Association of Iraqi Private Banks announced the increase in the number of customers with the banking sector to about 23% of adults in Iraq after it was 11% in 2014 as a result of increased confidence between the citizen and the banking sector. 
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, in a press statement received by "Economy News", "The relationship between the citizen and the banking sector began to improve very significantly, during the current stage, for several reasons, including the support provided by the Central Bank of Iraq to the banking sector and openness Iraq on foreign trade and the procedures of the Central Bank in the fight against money laundering and the financing of terrorism and the settlement of salaries of state employees and others. 
He pointed out that "the majority of customers with the banking sector are young people, which has increased the number of customers with the banking sector to about 23%," noting that "the proportion of Iraqis who manage their bank accounts through mobile portfolios rose to 4.2% In 2014 ". 
"Nearly 20 percent of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and the payment of electricity, Internet and other fees," he said. 
He pointed out that "the activities set up by the Central Bank of Iraq and the Association of Iraqi private banks on the occasion of the week of financial inclusion in cooperation with the Arab Monetary Fund, in universities and commercial and cultural centers with the participation of the majority of banks operating in Iraq, will contribute to strengthening the relationship between the citizen and the banking sector through his knowledge of banking products Which suits him. "


Views 24   Date Added 05/07/2019

 
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23% of Iraqi adults deal with the banking sector

Economy | 01:46 - 07/05/2019

 
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BAGHDAD - 
 The Iraqi Private Banks Association announced on Tuesday the rise in the number of transactions with the banking sector to about 23% of adults in Iraq after it was 11% in 2014 as a result of increased confidence between the citizen and the banking sector. 
The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, in a statement received / Mawazine News, a copy of it, "The relationship between the citizen and the banking sector began to improve very significantly, during the current phase, for several reasons, including the support provided by the Central Bank of Iraq to the sector Banking and the openness of Iraq to foreign trade and the procedures of the Central Bank in the fight against money laundering and the financing of terrorism and the settlement of salaries of state employees and others. "
Tarek added that "the majority of customers with the banking sector are young people, which increased the number of customers with the banking sector to about 23%," noting that "the proportion of Iraqis who manage their bank accounts through mobile portfolios rose to 4.2% after Were not in 2014. " 
"Nearly 20 percent of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and the payment of electricity, Internet and other fees," he said. 
Tariq pointed out that "the activities organized by the Central Bank of Iraq and the Association of Iraqi private banks on the occasion of the week of financial inclusion in cooperation with the Arab Monetary Fund, in universities and commercial and cultural centers with the participation of the majority of banks operating in Iraq, will contribute to strengthening the relationship between the citizen and the banking sector through his knowledge of the products Banking that suits it. "

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The Iraqi Association of Private Banks announced on Tuesday that the number of customers in the banking sector increased to about 23%.

The Executive Director of the Association Ali Tariq in a statement received Alsumaria News a copy of it, "The relationship between the citizen and the banking sector began to improve very significantly during the current stage, for several reasons, including the support provided by the Central Bank of Iraq to the banking sector and the openness of Iraq to foreign trade and the procedures of the Central Bank In the fight against money laundering and the financing of terrorism and the settlement of salaries of state employees and others. "
 

Tarek added that "the majority of customers with the banking sector are young people, which increased the number of customers with the banking sector to about 23%, after representing 11% in 2014," noting that "the proportion of Iraqis who manage their bank accounts through managed portfolios Palmobile increased to 4.2% after it was not in 2014. " 

Tariq pointed out that "nearly 20% of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and pay the wages of electricity and the Internet and others."
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Private banks: 23% of Iraqi adults deal with the banking sector

11:41 - 07/05/2019
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BAGHDAD - 
The Association of Iraqi Private Banks announced on Tuesday the rise in the number of transactions with the banking sector to about 23% of adults in Iraq after it was 11% in 2014 as a result of increased confidence between the citizen and the banking sector. 
The Executive Director of the Association Ali Tariq said in a statement received that the relationship between the citizen and the banking sector began to improve very significantly, during the current stage, for several reasons, including the support provided by the Central Bank of Iraq to the banking sector and the openness of Iraq to trade And the procedures of the Central Bank in the fight against money laundering and financing of terrorism and the settlement of salaries of state employees and others.
He added that "the majority of customers with the banking sector are young people, which increased the number of customers with the banking sector to about 23%," noting that "the proportion of Iraqis who manage their bank accounts through a mobile portfolio rose to 4.2% after Was absent in 2014, "noting that" nearly 20% of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and pay the wages of electricity and the Internet and others. " 
He pointed out that "the activities set up by the Central Bank of Iraq and the Association of Iraqi private banks on the occasion of the week of financial inclusion in cooperation with the Arab Monetary Fund, in universities and commercial and cultural centers with the participation of the majority of banks operating in Iraq , will contribute to strengthening the relationship between the citizen and the banking sector through his knowledge of banking products Which suits him. " Ending / 25

https://www.almaalomah.com/2019/05/07/404896/

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Iraqi private banks: 23% of adult Iraqis deal with banks

Iraqi private banks: 23% of adult Iraqis deal with banks
Expression image of the Association of Iraqi Banks
 07 May 2019 03:06 PM

Mubasher: The Association of Iraqi private banks, the number of customers with the banking sector to about 23 percent of adults in Iraq, after it was 11 percent in 2014 as a result of increased confidence between the citizen and the banking sector.

"The relationship between the citizen and the banking sector has begun to improve very significantly during the current stage," said Ali Tarek, executive director of the Association of Iraqi Private Banks.

And attributed the Executive Director for several reasons, including the support provided by the Central Bank of Iraq to the banking sector and the openness of Iraq to foreign trade and the procedures of the Central Bank in the fight against money laundering and financing of terrorism and the resettlement of salaries of state employees and others .

He pointed out that the majority of customers with the banking sector are young people, which increased the number of customers with the banking sector to about 23 percent.

He pointed out that the proportion of Iraqis who manage their bank accounts through mobile-managed portfolios rose to 4.2 percent after it was not in 2014.

He added that about 20 percent of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and pay the wages of electricity and the Internet and others .

He pointed out that the activities held by the Central Bank of Iraq and the Association of Iraqi Private Banks on the occasion of the Financial Inclusion Week in cooperation with the Arab Monetary Fund in universities and commercial and cultural centers with the participation of the majority of banks operating in Iraq will contribute to strengthening the relationship between the citizen and the banking sector. Fit it. "

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07-05-2019 01:46 PM
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Baghdad

 The Iraqi Association of Private Banks announced on Tuesday that the number of banking customers increased to about 23% of adults in Iraq after it was 11% in 2014 due to increased confidence between the citizen and the banking sector.

The Executive Director of the Association of Iraqi Private Banks, Ali Tariq, in a statement received "news" copy of it, "The relationship between the citizen and the banking sector began to improve very significantly, during the current stage, for several reasons, including the support provided by the Central Bank of Iraq to the banking sector and openness Iraq on foreign trade and the procedures of the Central Bank in the fight against money laundering and the financing of terrorism and the settlement of salaries of state employees and others.

He pointed out that "the majority of customers with the banking sector are young people, which has increased the number of customers with the banking sector to about 23%," noting that "the proportion of Iraqis who manage their bank accounts through mobile portfolios rose to 4.2% In 2014 ".

"Nearly 20 percent of Iraqis receive and send money through modern payment tools, through the purchase of the Internet and the payment of electricity, Internet and other fees," he said.

He pointed out that "the activities set up by the Central Bank of Iraq and the Association of Iraqi private banks on the occasion of the week of financial inclusion in cooperation with the Arab Monetary Fund, in universities and commercial and cultural centers with the participation of the majority of banks operating in Iraq, will contribute to strengthening the relationship between the citizen and the banking sector through his knowledge of banking products Which suits him. "

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23% of adult Iraqis deal with banks: IPBL

 

Iraq Private Banks League announced a rise in the number of banking customers to about 23 percent of adults in Iraq compared to only 11 percent in 2014 as a result of increased confidence between citizens and the banking sector.

"The relationship between the citizen and the banking sector has begun to improve very significantly during the current stage," said Ali Tareq, executive director of the Iraqi Private Banks League.

Tareq referred to the support provided by theCentral Bank of Iraq to the banking sector, the openness of Iraq to foreign trade, and the procedures taken by the Central Bank to fight money laundering and terrorism financing.

 

 

https://www.thebaghdadpost.com/en/Story/39274/23-of-adult-Iraqis-deal-with-banks-IPBL

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Trust in banking

Saturday 11 May 2019 30

Trust in banking

 

 

Yasser Al Metwally
 

In a remarkable news published last Wednesday on this page, "economic morning" reported the rise of the proportion of customers with banks from Iraqi adults to 23 percent, according to international statistics specialist.

Which is a source of hope and optimism and a sign of the return of confidence in the banking dealings between banks
 And its customers.
Although the ratio is measured on the size of dealers with banks compared to the size of the population, it is a reasonable proportion, meaning that there is a significant development in the performance of banks and the reasons for characterization executive management, most notably the efforts made by the Central Bank and the concerned bodies, which is calculated.
This success comes in the wake of the suffering of banks due to the loss of confidence that was behind several reasons we have referred to in previous articles and there is no room here
 To repeat.
Perhaps the purpose of the program, which was designed by the Central Bank and contributed to the implementation of the Association, which is the financial coverage through many of the events were able to make sure banks success, so banks were able to resume the required banking performance.
The other reason, which is no less important in raising the proportion of users with banks is the program of localization of salaries and the incentives included in it, as well as working methods of electronic payment, as the spokesman said in this regard
Yes, excellent reasons for her presence and effect but.
What are the banks required to sustain the momentum of raising this ratio?
The future indicates a breakthrough and indicators of Iraq's openness to the world and the expansion of foreign trade and the most important signs of the launch of investment strongly, which requires solid banks able to provide the requirements of this openness 
And investment.
Among the most important requirements of investment and construction are the availability of sophisticated banks, solid financial and advanced banking competencies, and this is what the concerned parties, including the Association of Banks, are seeking to achieve through its high-level training programs by bringing international lecturers and the expertise of an Iraqi university academy. The banks must maintain their comprehensive program and expand their banking services, Encourage other social segments to deal with banks.
We believe that banks should not bet on remaining in the labor market unless they offer different banking products and seek the return of credits and deposits with incentives and encouragement. Thus, banks contribute to the re-dissemination of the banking culture, which will increase the rates of those who deal with them. 
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The Central Bureau of Statistics revealed on Sunday that more than 4 billion dollars sales of the central bank for the month of April.

"Central Bank of Iraq's Central Bank of Iraq sales for April amounted to 4 billion 177 million 11 thousand and 586 dollars,
 

He added that "the total cash sales for April amounted to 451 million and 830 thousand dollars, while the total foreign transfer of remittances and appropriations 3 billion and 725 million and 181 thousand and 586 dollars." 

It is noteworthy that the Central Bank is conducting daily meetings to buy and sell foreign currencies, except public holidays, which stops the bank from these auctions.
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money and business
 


Economy News / Baghdad ... 

Central Bureau of Statistics, Wednesday, rising number of passengers through the railway in 2018 and by 21.6% compared to 2017, indicating that the average fare per passenger transport reached 8450 dinars. 
"The number of rail passengers reached 529 thousand passengers in 2018 compared to 435 thousand passengers in 2017 and an increase of 21.6%," the agency said in a press report.

He added that "the average fare per passenger in railways amounted to 8450 dinars in 2018 compared to 9915 dinars in 2017 and a decrease of 14.8% compared to the average length of travel passenger travel of 336 km in 2018.

He pointed out that "the number of kilometers traveled travel amounted to 178 million passengers / km in 2018 compared to 169 million / passenger / km in 2017 and an increase of 5.3%."

Views 12   Date Added 05/15/2019

 
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Saturday 18 May 2019 01:26 PM
Number of readings: 20

irq_352325701_1558175167.jpg&max_width=300

 


BAGHDAD / The central bank announced on Saturday that the proportion of private sector deposits with commercial banks for the month of December 2018 amounted to 27 billion dinars.

The bank said in its statistics, "The deposits of the Iraqi private sector in commercial banks amounted to 27 billion and 364 million and 385 thousand dinars during the month of December of 2018," noting that "these deposits rose from the month of November of the same year, which amounted to deposits 26 Billion and 586 million and 556 thousand dinars, while deposits for the month of January of the same year 25 billion and 725 million and 835 thousand dinars.

He added that "the lowest deposits to the private sector registered with commercial banks was in April of 2004, which amounted to a billion and 803 million and 609 thousand dinars," noting that "the rate of deposits of the private sector in commercial banks from 2004 to January of In 2019 amounted to 15 billion and 439 million and 966 thousand dinars. " Finished

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A report published on the site "Numbio", which concerns the standard of living of the world, for 2019 that the capital Baghdad ranked 33 Asian with the cost of living index.

According to the latest update in April, "Baghdad occupied 33rd place on the continent of Asia with the cost of living index," noting that "the rent index in Baghdad is 13.84%." 

"The cost of living index plus rent in Baghdad was 30.21 percent, while the food index was 37.63 percent," the report said.
 
 
He pointed out that "the index of restaurants scored 39.32%, while the local purchasing power index of the citizen Baghdadi 38.35%." 

The Japanese capital Tokyo ranked first in the highest cost of living in Asia, followed by South Korea's capital Seoul, while Abu Dhabi occupied the United Arab Emirates as the first Arab country and 12 Arabs at the highest cost of living in Asia. 

The Nombio site is one of the sites launched in 2009 and is considered as a source by many international newspapers and magazines including BBC, Time, The Forks, Forbes, The Economist, Businas Incider, San Francisco Chronicle, New York Times, The Telegraph, The Edge, The Sydney Morning Herald, China Daily, The Washington Post.
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The Central Bank of Iraq revealed on Monday the amount of cash mass outside the Iraqi banks, pointing out that it is more than 39 trillion dinars.

The bank said in an official statistic it was briefed by Alsumaria News that "the amount of currency outside the banks amounted in January of 2019 by 39 trillion and 796 billion and 700 million dinars," noting that "this amount fell from the month of December of 2018, which amounted to 40 Trillion and 498 billion and 67 million dinars. "
 

The bank added that "the highest level of currency outside banks during the past three years was in December 2016, where it reached 42 trillion and 75 billion dinars, while the lowest level of currency during the month of February of 2004, which amounted to 5 trillion and 431 million Dinar". 

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which the bank considered it would transfer Iraq from the country of trillions to billions, that the project was met with great opposition by the specialists and politicians in parliament.
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1 hour ago, yota691 said:
 
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The Central Bank of Iraq revealed on Monday the amount of cash mass outside the Iraqi banks, pointing out that it is more than 39 trillion dinars.

The bank said in an official statistic it was briefed by Alsumaria News that "the amount of currency outside the banks amounted in January of 2019 by 39 trillion and 796 billion and 700 million dinars," noting that "this amount fell from the month of December of 2018, which amounted to 40 Trillion and 498 billion and 67 million dinars. "
 

The bank added that "the highest level of currency outside banks during the past three years was in December 2016, where it reached 42 trillion and 75 billion dinars, while the lowest level of currency during the month of February of 2004, which amounted to 5 trillion and 431 million Dinar". 

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which the bank considered it would transfer Iraq from the country of trillions to billions, that the project was met with great opposition by the specialists and politicians in parliament.

So let me get this straight.  There is is still 39 Trillion Dinar outside the CBI.   The project to delete the zeroes is to transfer the country from Trillions to Billions.  This would be fine if CBI had the 39 Trillion BUT it is outside of the CBI.  How is this a good thing?

 

This could only be good for us if the majority of the 39 Trillion is inside the borders of Iraq.  Not so good for the Iraqi people.  If I'm wrong someone please explain. 

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Not exactly sure if I should  pick up what they’re laying down when it comes to their math.

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If the CBI really wants to get the 39 trillion IQD Into the banking system;

- start delete the 000 project 

- Increase the dinar exchange rate “RV”

- Rollout Lower denomination notes 

- Replace 000 notes for LD notes with more purchasing power.

 

This will increase financial inclusion 

Give the citizens more purchasing power 

The 39 trillion will get into the banking system

 

just my opinion 

 

Go RV sooner than later 

Go $1:1

 

 

 

 

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1 hour ago, Laid Back said:

If the CBI really wants to get the 39 trillion IQD Into the banking system;

- start delete the 000 project 

- Increase the dinar exchange rate “RV”

- Rollout Lower denomination notes 

- Replace 000 notes for LD notes with more purchasing power.

 

This will increase financial inclusion 

Give the citizens more purchasing power 

The 39 trillion will get into the banking system

 

just my opinion 

 

Go RV sooner than later 

Go $1:1

 

 

 

 

Absolutely there LB and they can start with mine 😁

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maybe the free toaster with every new account opened was't enough incentive , i'm thinking the citizens might be reading the same articles about bank corruption and the trust factor is sub par .... we wait 

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On 3/29/2019 at 7:53 PM, GregHi said:

I don’t believe the Iraqis are holding their money in their houses because they believe it will RV. My buddy held over 300 Million Dinar in his house in Erbil simply because nobody trusts keeping their money in bank accounts there.. (nothing to do with an RV). They only see banks as a building where you perform a transaction.. if it’s exchanging money for USD or making some kind of transaction monetary type change. Here in the US we are brainwashed to direct deposit our hard earned money into a bank account ( giving them a free loan) so they can use our money (usually interest free for the bank to conduct business). So if you look at it that way, who is actually smarter, us or the Iraqis holding on to their hard earned money at home.. lol

Hi Greg, I just read this thread and have a quick question for you if I may? Since this seems to be a close buddy of yours and I am sure you have asked him what does he say about a future RV or even 1 to 1? 300 million dinar is a lot to keep in a house I would think he would be worried about being robbed first before a bank steals from him but hey I get it the bank accounts got cleaned out before by Sadam and whoever but still curious if your friend believes they will significantly increase the value one day overnight? Thanks

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Central: The cash mass outside the banks is more than 39 trillion dinars

2019-06-17

Central: The cash mass outside the banks is more than 39 trillion dinars

 

Source: Alsumaria News

The Central Bank of Iraq revealed on Monday the amount of cash mass outside the Iraqi banks, pointing out that it is more than 39 trillion dinars.

 

The bank said in an official statistic it was briefed by Alsumaria News that "the amount of currency outside the banks amounted in January of 2019 by 39 trillion and 796 billion and 700 million dinars," noting that "this amount fell from the month of December of 2018, which amounted to 40 Trillion and 498 billion and 67 million dinars. "

 

The bank added that "the highest level of currency outside banks during the past three years was in December 2016, where it reached 42 trillion and 75 billion dinars, while the lowest level of currency during the month of February of 2004, which amounted to 5 trillion and 431 million Dinar". 

 

The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which the bank considered it would transfer Iraq from the country of trillions to billions, that the project was met with great opposition by the specialists and politicians in parliament.

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40 trillion dinars (  @ 10 cents cost 400, trillion ? Think that is right ... ) Better close that dollar auction window and save them for dinars buy back !!!!!! 

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