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Association of private banks: 89. 76 trillion dinars value of deposits in commercial banks


yota691
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Editorial Date: 2019/4/15 16:35 • 2 times read
Association of private banks: 89. 76 trillion dinars value of deposits in commercial banks
(Baghdad: Al Furat News) The Executive Director of the Association of Iraqi private banks, Ali Tariq, on Monday, the rise of government and private deposits in commercial banks operating inside Iraq to 76.89 trillion dinars during the year 2018.
"The government and private deposits in commercial banks increased by 9.84 trillion dinars during the year 2018 because of the procedures of the Central Bank of Iraq in support of the Iraqi banking sector, both government and private, in addition to the elimination of Iraq from the financial crisis," Tariq said in a statement received by the {Euphrates News} Which hit him in 2014 because of falling oil prices and improved security after the elimination of the organization is urging, "noting that" deposits in 2017 amounted to 67.05 trillion dinars, while in 2018 rose to 76.89 trillion dinars. " 
He added that "private sector deposits in commercial banks amounted to 27.36 trillion dinars, while government deposits amounted to 22.27 trillion dinars in addition to deposits of the public sector sector amounting to 27.26 trillion dinars."
He stressed that "the relationship between the citizen and the banking sector is witnessing a significant improvement after the actions of the Central Bank of Iraq, such as the settlement of salaries of employees in the public and private sectors and facilitate the procedures of bank cards and others." 
He explained that "another factor is the integration of Iraq's global economy, which depends mainly on transactions with the banking sector in addition to the increasing geographical spread of banks through the increase in the number of branches after awareness programs, as well as increase the proportion of financial coverage through the provision of electronic payment tools and their impact In attracting the monetary bloc. " 
He pointed out that "the coming years will witness an increase in deposits after the launch of the deposit insurance company by the Central Bank of Iraq."
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 Banks


Economy News Baghdad

The private director of the Association of Iraqi Private Banks, Ali Tariq, said the increase of government and private deposits in commercial banks operating inside Iraq to 76.89 trillion dinars during the year 2018.  
Tariq said, "Government and private deposits in commercial banks rose 9.84 trillion dinars in 2018 because of the bank's procedures The Iraqi Central Bank in support of the Iraqi banking sector, both government and private, in addition to Iraq rid of the financial crisis that hit in 2014 because of the fall in oil prices and security improvement after the elimination of the organization calling, "noting that" deposits in 2017 amounted to 67.05 trillion dinars What rose in 2018, to 76.89 trillion dinars. " 
He added that "private sector deposits in commercial banks amounted to 27.36 trillion dinars, while government deposits amounted to 22.27 trillion dinars in addition to deposits of the public sector sector amounting to 27.26 trillion dinars." 
He stressed that "the relationship between the citizen and the banking sector is witnessing a significant improvement after the actions of the Central Bank of Iraq, such as the settlement of salaries of employees in the public and private sectors and facilitate the procedures of bank cards and others," adding that "Another factor is the integration of Iraq in the global economy, which depends mainly on transactions With the banking sector in addition to the increasing geographical spread of banks through the increase in the number of branches after the awareness programs, as well as increasing the proportion of financial coverage through the provision of electronic payment tools and their impact in attracting the mass of cash. 
He pointed out that "the coming years will witness an increase in deposits after the launch of deposit insurance company by the Central Bank of Iraq."


Views 63   Date Added 04/15/2019

 
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55 minutes ago, GreedyDinar07 said:

How are they gonna RV with 89 trillion out there...someone please explain.

They can't afford to revalue. But I am always hoping. Plus why would they revalue I really dont thinking will help them. I think it might hurt them more than help them. Just think all of this 89 trillion out there and they go up to .25 cents per dinar for example. Now all this 89 trillion is being cashed in at a heck of a lot more than was paid for it.  Think about it if I gave you my car at 10 dollars but if you hang on to it for years I will buy it back for 10,000 dollars. Not gona happen. 

Give me negs.  Haters can hate. 

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It does have value. Just not the value we would like.  It just takes bigger bills to purchase stuff.  If you look at other countries out there they all have different values to their money. If I were making 10 dollars per hour American then I would be making 10 dollars per hour the equivalent in dinar, that is if I was getting paid dinar it would just take bigger bills to get there.  

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1 hour ago, GreedyDinar07 said:

Engine1 So the US Government allowed us to get screwd twice by taking our tax dollars to finance the war and allowed us to buy the worthless currency and Iraq benefits..havent they been pulling some of this currency in over the years through the auctions....what the hell is really going on!!

You can buy any currency out there in Hope's it will revalue. Heck I could buy Canadian in Hope's it will tripple in value does the Gov't stop us nope.  Nobody knows if our government is buying dinar it's all speculation ( we could only hope that they are ).  People read into every news article out there and twist it to what they want and hope for. Heck I maybe wrong ( i hope i am ) but I maybe right.  But I dont see it happening. With all the dinar going out at .00087654 (or what ever it reads ) per dinar going up to .10 or .25 or 1.00 per dinar they would broke as can be. Do the math,  I have kept myself grounded since my purchase of dinar in 2005 and always will be grounded. I spent the money I could afford to loose. In Hope's I dont loose 

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inside iraq one dinar will always just be one dinar same as the currency you use in the country you reside in a strong currency value or lack thereof will give purchasing power inside iraq but one dinar will always just be a dinar sometimes people believe iraqis will become wealthy if the currency value raises ... outside iraq's borders is where the exchange rate / value of the iqd will come into play  if the currency value rises  ,, I'd say the bank has done pretty good if they have drawn that much into the banking system which was a goal forever now from past news articles  , i still have hopes the iqd will become internationally traded accepted all my opinion of course .... we wait cheers dv, 

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SO 89.76 Trillion IQD is the value of deposits in commercial Banks.

 

Hhmm . . . current rate of exchange on Xe.com - 75, 363, 833, 333.901 USD ( I rounded up to 90 trillion ) That's allot of Spondoolies.

 

:eek: They're quickly approaching the Quadrillion mark.

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13 minutes ago, 10 YEARS LATER said:

SO 89.76 Trillion IQD is the value of deposits in commercial Banks.

 

Hhmm . . . current rate of exchange on Xe.com - 75, 363, 833, 333.901 USD ( I rounded up to 90 trillion ) That's allot of Spondoolies.

 

:eek: They're quickly approaching the Quadrillion mark.

 

So what does THAT mean?  I don't understand, 10YL.

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Yes Botzwana I am a functioning Adult. Don't attempt to insult people just because they are asking question and don't agree with you everything you post! We are all here for the same reason a positive return on our investment. This is Currency Speculation and only a fool would believe anything one person tell them!! This is Iraq! No one knows the date or the rate so keep the personal comments to yourself. Thanks!! Go Rv!!

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7 hours ago, yota691 said:

The private director of the Association of Iraqi Private Banks, Ali Tariq, said the increase of government and private deposits in commercial banks operating inside Iraq to 76.89 trillion dinars during the year 2018

 

No mention of WITHDRAWALS HERE!!!

 

By the Bicraqi Iraqi CBI's OWN admission, there are nominally 37 trillion Bicraqi Iraqi Dinar in circulation in Iraq TO INCLUDE the CHUNKAE' MONAE' "stashed" OUTSIDE the banks. The Bicraqi Iraqi CBI estimates 70% of the Bicraqi Iraqi Dinar is "stashed" or, nominally, 25.9 trillion Bicraqi Iraqi Dinar OR, nominally, 11.1 trillion in circulation.

 

The "turn over" of the Bicraqi Iraqi Dinar is then 11.1 / 76.89 = 0.144 years or 52.7 days. THAT is ALL THIS means. A "simple" velocity of the Bicraqi Iraqi Dinar.

 

For most business bank accounts:

 

input + generation = output + consumption + accumulation

 

For THIS example, generation is interest AND consumption is fees THAT are minimal whereas accumulation varies depending on cash flow.

 

SO..............................................................

 

ALL told, input approximates output.

 

ALL THIS implies.

 

THIS is a SPECULATIVE Bicraqi Iraqi Dinar Investment WITH NO GUARANTEES!!! IF THIS Bicraqi Iraqi Dinar EVER changes in value, NO ONE will KNOW beforehand WHAT conversion WILL APPLY!!!

 

EVEN THOUGH the Bicraqi Iraqi Dinar is PEGGED to the USD in a "closed economy", NO TELLIN' WHAT the conversion to USD WILL BE post Reinstatement of the Bicraqi Iraqi Dinar INTERNATIONALLY!!!

 

WHO, pray tell, REALLY cares WHAT the Bicraqi Iraqi DO INSIDE Iraq WITH the Bicraqi Iraqi Dinar???!!!

 

ANYONE, pray tell???!!!

 

SO......................................................

 

ReInstatement of the Bicraqi Iraqi Dinar at 1 Bicraqi Iraqi Dinar = 0.10, 0,25, 0.86, 1.00, 1.13, 2.86, 3.22, 4.86 OR WHATEVER USD - WHO, pray tell, REALLY cares???!!!

 

SURE, WE ALL want 1 Bicraqi Iraqi Dinar = 100 USD OR MORE!!! :lmao:   :lmao:   :lmao:

 

REALISTICALLY, ANY SIGNIFICANT upward change in the conversion of Bicraqi Iraqi Dinar to USD post ReInstatement of the Bicraqi Iraqi Dinar INTERNATIONALLY IS A GAIN!!!

 

WHAT, pray tell, WILL one DO???!!!

 

SIT AND POUT if 1 Bicraqi Iraqi Dinar = 0.10 or 0.25 USD WHEN THAT IS A HUGE GAIN???!!!

 

:facepalm3:   :facepalm3:   :facepalm3:

 

NO SENSE getting the undergarments OR bath robe OR jammies OR whatever in a BIND!!!

 

7 hours ago, yota691 said:

"Another factor is the integration of Iraq in the global economy, which depends mainly on transactions With the banking sector in addition to the increasing geographical spread of banks through the increase in the number of branches after the awareness programs, as well as increasing the proportion of financial coverage through the provision of electronic payment tools and their impact in attracting the mass of cash

 

Hey, I LIKE the TERMS:

  • Integration
  • Global Economy
  • Transactions
  • Banking Sector
  • Geographical Spread
  • Financial Coverage
  • Electronic Payment Tools
  • Attracting The Mass Of Cash

WHAT, pray tell, FOR???!!!

 

!!!BOOM!!!

 

!!!SUDDENLY!!!

 

YYYEEEAAAHHH BBBAAABBBY!!!!!!!!!!!!!!!!!!!!!

 

Go Moola Nova!

:pirateship:

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2 hours ago, GreedyDinar07 said:

Yes Botzwana I am a functioning Adult. Don't attempt to insult people just because they are asking question and don't agree with you everything you post! We are all here for the same reason a positive return on our investment. This is Currency Speculation and only a fool would believe anything one person tell them!! This is Iraq! No one knows the date or the rate so keep the personal comments to yourself. Thanks!! Go Rv!!

How did Botzwana  insult you? He gave a opinion. He also gave a very good explanation of what happened to the Peso. 

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Think about this;

If they have 76,89 trillion IQD in deposits.

 

- Why they complain about liquidity?

- Why they complain about Chunky cash stashed at home

- Why they want to continue making money from the daily auctions instead of giving loans?

- Why the CBI said the monetary mass is 42 trillion IQD?

 

What about the CBI plans to reduce the note count from 4 billion notes to 1 billion notes.... Years ago

 

Don't let misinformation take control.

 

Go RV

Go $1:1

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5 hours ago, Botzwana said:

Again they already stated it would be worth 3 bucks….But negative nancies and lopsters just SEIZE these kinds of articles with a foaming passion.  Again I ask...why do they continue to come here?  If ya believe it Will lop, sell out and have a nice day.  But this constant whining and crying...I cant believe some of you are functioning adults.

I can't believe you let it bother you that much.  Did you not read the part where they said " they hope it does revalue "?  Some people are just stating that based on the information in the article they don't know how they can revalue their currency. You are stating that based on the articles you post and read that it will revalue just because they said. No real proof.   Just let it be.  

 

The comment about" not believing some of you are functioning adults" is totally uncalled for.  Just because some people don't trust every article and twist others in favor of a revalue doesn't make them less of an adult than you.  Since they aren't going away I suggest you block them or ignore them and go on with your life.  Did you notice you are the only that speaks out against thet views? They're alot of people that say thing here that annoy me. But freedom of speech is a wonderful thing.  Don't forget it.

Edited by cranman
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1 hour ago, ChuckFinley said:

Thanks Synopsis. Just  catching up with everything. 

 

:twothumbs: ChuckFinley, AND The Very Best Of Your Week To You!!! :tiphat:

 

The Insanian IRGC Spanctions hit TODAY. I haven't seen ANY news on THAT TODAY!!!

 

Maybe BABY the quiet before the storm???!!!

 

Honestly, with as much money being funneled to the Insanians, to INCLUDE the Insanian IRGC, via the corrupt weekday Bicraqi Iraqi CBI daily currency auctions, I CAN NOT see HOW the corrupt weekday Bicraqi Iraqi CBI daily currency auctions can continue. Otherwise, the funds are used to fund the Insanian Muddle East Corruption AND Terrorist Machine AND corrupt the Bicraqi Iraqi GOI AND OTHER Officials in perpetuity UNTIL the Insanians have complete AND total control of the Bicraqi Iraqi. NOT a Sovereign State of Iraq in THAT scenario. NO reconstruction, construction, AND economic development WITH foreign investment in THAT scenario!!!

 

The United States Of America Treasury HAS BEEN at the Bicraqi Iraqi CBI since January 2015 so KNOWS where AND how the money ALL goes. I suspect things are ABOUT to get the SCREWS put to the FINANCIAL corruption with a WHOLE LOTTA Bicraqi Iraqi facing the consequences of BREECHING the Insanian, to INCLUDE Insanian IRGC, Spanctions.

 

I suspect ANY bone fide Bicraqi Iraqi Dinar held by Spanctioned Insanians HAVE the Serial Numbers tracked. If correct, WHEN Kuwait was WITHOUT electricity, a print was posted on the bank windows noting the Serial Numbers of the Kuwaiti Dinar stolen by Saddam Hussein THAT were rendered NULL AND VOID. Similar scenario COULD happen here. A nice way to get rid of a WHOLE LOTTA CHUNKAE' MONAE' held by the Insanians, to INCLUDE the Insanian IRGC, AND corrupt Bicraqi Iraqi GOI AND OTHER Officials!!!

 

HERE is Hopin'!!!

 

Tomorrow, or THIS week, may be BABY a WHOLE NEW Venture AND Chapter in LIFE!!!

 

:crossedfingers:   :crossedfingers:   :crossedfingers:

 

Go Moola Nova!

:pirateship:

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4 minutes ago, Botzwana said:

I am simply saying to take it to the lopster tank since you seem to think we are all wasting our time here.  THAT is where all of this talk belongs.  The fact that an adult like you say you are, cannot understand that surprises me.

I dont think I said it was going to LOP 

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1 hour ago, cranman said:

The comment about" not believing some of you are functioning adults" is totally uncalled for.

 

3 minutes ago, Engine1 said:

My opinion is my opinion we are all adults with our own way of thinking.

 

A keen AND necessary observation.

 

I see NEITHER of You have a scene pic of a comic character of sorts with fantasy super power jammies on.

 

Good On You!!!

 

:twothumbs:   :twothumbs:   :twothumbs:

 

Yeah, I gave THAT up out of embarrassment LONG before becoming a teenager. I ALSO learned how important TRUTH is for LIFE AND Thereafter. NOT some fantasy OR misrepresentation as MY core desire AND beliefs.

 

Yeah, people can be off a LITTLE, including MYSELF, BUT a WHOLE ANOTHER FALSE REALITY???!!!

 

:facepalm3:   :facepalm3:   :facepalm3:

 

Go Moola Nova!

:pirateship:

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19 minutes ago, Engine1 said:

Cranman, 

Botz is pointing his name calling at me because I dont feel the same way as him. Because I guess his opinion is the only one that matters and mine dont, but I do not care.   My opinion is my opinion we are all adults with our own way of thinking. 

Hear hear!

I know some people need this to happen more than others. I know everyone wants it to happen.  For those who need it,  I completely understand that any negative talk or feelings are not something they want to see or hear.  But seeing the possibilities from both sides of the coin is always valuable information.  JMO. 

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Botz, 

 

I can respect your outlook on this investment.  Myself,  i'm 50/50.  I don't think Engine1 comments were ever meant disrespect Adam. I look forward ( as I'm sure most do) to Adams thoughts and insight about this very speculative investment.  I will not speak for Adam, but if I had to guess  if you asked Adam if there is a 100% guarantee   that this RV is going to happen he may say "No". Adam simply give us his opinion, information and insight for this investment.  But even Mr. Montana ( that's with respect) can't (and probably won't) guarantee this RV/ float will ever happen.  

 

We all hope you're right and you can say " I told you so". We would all gladly say we were wrong and eat the best tasting  crow pie ever! Lol 

Edited by cranman
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