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Bank of Baghdad: The Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability

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Economy News Baghdad:

The Chairman of the Board of Directors of the Bank of Baghdad, Essam Ismail Sharif, that the Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability in spite of the circumstances experienced by Iraq.

"In 2018, the Central Bank of Iraq, through its strategy of managing monetary policy and strengthening the pillars of monetary stability despite the circumstances in which the country was going through, succeeded in overcoming these conditions," Sharif said in his annual report issued by the Bank of Baghdad. While maintaining the exchange rate of the dinar to the dollar within the parallel market prices. "

He stressed that "the Central Bank continued to provide short and medium-term credit lines to finance the economic sectors, including small and medium-sized enterprises within the preferential interest rate, and in the liquidity side work to pay part of restricted cash with its branches in Sulaymaniyah and Arbil to Iraqi banks."

He continued his leadership role in the development of electronic payment methods and the process of settling salaries in Iraq, and on the technical side issued the Central Bank of Iraq instructions for the application of capital adequacy according to the Basel III standard,  which began to be applied experimentally on the data of the third quarter and fourth and will be adopted from the year 2019 ".

He pointed out that "the Iraqi economy is expected to achieve growth of 6.5% during the year 2019, in light of improved macroeconomic factors and the deficit of the general budget of the state and the need for the country to reconstruction projects of infrastructure."

He pointed out that "the Bank of Baghdad has been able to grow its financial position and size of customer deposits and achieve a part of the qualitative and quantitative achievements at the administrative and regulatory levels and maintain liquidity and improve the quality of assets, which will maintain its position within the Iraqi banking sector," explaining that "the capital adequacy ratio reached 127% Which exceed the indicators of global requirements and the Central Bank of Iraq.

He pointed out that "to meet the requirements of customers at the bank has re-completed the spread of its distribution channels and develop, whether opening branches at their new sites and start rehabilitation of the branches of Mosul and Tikrit and Anbar to be within the branches operating in 2019 in addition to the expansion of electronic distribution channels in terms of exchange, A cashier and is planned to reach 62 cashiers. "


Views 24   Date Added 29/04/2019

 
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12 minutes ago, Laid Back said:

Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency.

 

 

heres hoping ... cheers dv

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3 hours ago, Laid Back said:

More GOOD news.

Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency.

 

Go RV sooner than later 

Go $1:1

I starting to feel it LB.  :twothumbs:

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That's being said above, one would think that the next step immediately following the " banking inclusion week" is to increase the value of their currency; give the Iraqi citizens some purchasing power. Then I would say that Alak's job is complete. Before that he's monetary policy, whatever work he has done remains unfinished.

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4 hours ago, Laid Back said:

More GOOD news.

Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency.

 

Go RV sooner than later 

Go $1:1

 

Do we know when the third review is happening?

Thanks LB 👍🏻

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I think it is in August  Half Crazy Runner .

 

14 minutes ago, Half Crazy Runner said:

 

Do we know when the third review is happening?

Thanks LB 👍🏻

 

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21 minutes ago, Carrello said:

August 2019

Thank you Carrello time for me to get some more dinars with all so great news coming i can't avoid be pumped ¡   lol¡¡ :)

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5 hours ago, 3n1 said:

 

heres hoping ... cheers dv

Thanks for your input 3n1

Go hope 

Go Luck

Go faith

Go RV

Go $1:1

2 hours ago, ChuckFinley said:

I starting to feel it LB.  :twothumbs:

That’s a good sign my friend👍🏼🙂

 

After reading the 137 pages of the IMF-SBA second review, I can see

what they’re doing.

 

From the latest news, specially the article above. I noticed the CBI has

been following step by step all the IMF recommendations give to them in

the second review of the IMF-SBA

 

This is why I said 

“Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency”

 

Go RV sooner than later

Go $1:1

 

 

 

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44 minutes ago, Carrello said:

August 2019

Hmm.... That date looks familiar....

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4 minutes ago, Laid Back said:

Thanks for your input 3n1

Go hope 

Go Luck

Go faith

Go RV

Go $1:1

That’s a good sign my friend👍🏼🙂

 

After reading the 137 pages of the IMF-SBA second review, I can see

what they’re doing.

 

From the latest news, specially the article above. I noticed the CBI has

been following step by step all the IMF recommendations give to them in

the second review of the IMF-SBA

 

This is why I said 

“Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency”

 

Go RV sooner than later

Go $1:1

 

 

 

Laid Back, you thinking it will be after August before we see a change? 

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1 minute ago, DoD said:

Laid Back, you thinking it will be after August before we see a change? 

My friend DoD, 

 

You know what happens when you give a date. Some People take it personally if nothing happens..

 

This is an speculative investment..... we are speculating with a country currency 

 

Window of opportunity..... third quarter 2019.....first quarter 2020

 

just my opinion...... I’m not a Guru😂

 

Go $1:1

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1 hour ago, nannab said:

I think it is in August  Half Crazy Runner .

 

 

I have a thing for August 😁

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LD, that's all anybody has is a calculated quess on what these idiots will do. I do a lot of reading but I know your reasearch is better than mine. I am of the belief that until they can do something about the corruption an daily auctions nothing will happen. Iran also needs to be dealt with, like you I believe there's work still to be done....

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36 minutes ago, Laid Back said:

Thanks for your input 3n1

Go hope 

Go Luck

Go faith

Go RV

Go $1:1

That’s a good sign my friend👍🏼🙂

 

After reading the 137 pages of the IMF-SBA second review, I can see

what they’re doing.

 

From the latest news, specially the article above. I noticed the CBI has

been following step by step all the IMF recommendations give to them in

the second review of the IMF-SBA

 

This is why I said 

“Looks like in the third review of the IMF-SBA, the CBI will be removed 

from Art 8 restrictions.... meaning an international recognized currency”

 

Go RV sooner than later

Go $1:1

 

 

 

Been saying this for several years and people scoffed. Welcome to the party.

Edited by Theseus
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1 hour ago, dinarin said:

Thank you Carrello time for me to get some more dinars with all so great news coming i can't avoid be pumped ¡   lol¡¡ :)

 

Thank Laid Back. He's the one that brought in the info, but thank you. 😎

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Really?

 

I said this back in December 2016

On 12/3/2016 at 9:29 PM, Theseus said:

Well with the Three Year Stand By intent by Iraq in 2016 and agreed to by the IMF... not until after 2019.

 

and have been saying this since then. Notice I said "intent" and meant agreement at that time. SOo pluhlease. I got so razzed from saying this people honesty thought that I did not think the RV would ever happen. 

Edited by Theseus
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