Guest views are now limited to 12 pages. If you get an "Error" message, just sign in! If you need to create an account, click here.

Jump to content
  • CRYPTO REWARDS!

    Full endorsement on this opportunity - but it's limited, so get in while you can!

Recommended Posts

 
  
 September 03, 2019
The Central Bank establishes a banking relationship with the World Bank's RAMP program

 



The Central Bank of Iraq announces the establishment of a banking relationship with the World Bank's Reserve Management Advisory Program ( RAMP ), which includes investment in bonds it issues.
 
The Bank explains that, through the Department of Investments and External Transfers, a plan has been prepared for cooperation with the World Bank in the management of reserves, and investment in bonds issued in dollars, at least $ 300 million.
 
The World Bank's Reserve Management Advisory Program ( RAMP ) is a platform to advise on the development of asset and reserve management in developing countries and international institutions to enable them to maximize their financial resources.
 
Central Bank of Iraq
information Office
September 3, 2019
  • Thanks 2
  • Upvote 7
Link to comment
Share on other sites

 
 
  • Since 2001, RAMP has been the World Bank Treasury’s platform for delivering demand-driven capacity building and asset management services to official sector asset managers in developing countries and international institutions. This work helps central banks, pension funds, and sovereign wealth funds build human capital, strengthen governance and operations, and deliver returns on financial resources consistent with their mandates and risk parameters. Today, RAMP serves 67 institutions across the World Bank Group’s five regions, including many located in low-income countries and fragile and conflict affected situations.

    RAMP engagements typically couple capacity building and asset management services so clients can access the full scope of Treasury’s expertise. Led by staff with substantial prior asset management experience at central banks or national pension funds, these engagements mobilize the skills and experience of senior practitioners to deliver capacity building that targets areas of client need. RAMP services address the full range of roles and functions that contribute to sound investment management, including board of directors, portfolio and risk managers, accountants, information technology, and internal audit.

    RAMP has a broad range of development impact. It builds human capital by sharing financial knowledge and developing financial expertise among key leaders and officials whose work contributes to the health of developing countries’ public and private sectors. It strengthens countries’ financial stability, economic resilience, and socio-economic well-being through the promotion of best practices in reserve management at official sector institutions. It also empowers international development agencies by sharing knowledge and expertise that helps maximize their financial resources.

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

180 views

The Central Bank of Iraq, on Tuesday, continue to establish a banking relationship with the advisory program for the management of reserves "RAMP" of the World Bank, indicating that the relationship included investment in bonds issued.

The bank said in a statement received by Alsumaria News that it "continues to establish a banking relationship with the World Bank's Reserves Management Advisory Program (RAMP)," noting that "the relationship included investment in bonds issued."
 

"Through the Department of Investments and External Remittances, a plan has been prepared for cooperation with the World Bank in terms of reserves management and investment in bonds issued in dollars, at least $ 300 million." 

The World Bank's Reserves Management Advisory Program (RAMP) is a platform for advising on asset and reserve management development in developing countries and international institutions to enable them to maximize their financial resources.
  • Like 1
  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

  
 September 03, 2019
Dues of contractors second half 2019 schedule (Ministry of Construction and Housing and Salahuddin province)

Contractors dues second half 2019 tables ( Ministry of Construction and Housing, Municipalities and Public Works / limited to the second and first Salah al- Din province / limited second )Click here to view

  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

Release date:: 2019/9 11:51 • 163 read times
The Central Bank establishes a banking relationship with a World Bank program
The Central Bank of Iraq has announced the establishment of a banking relationship with the World Bank's Reserve Management Advisory Program (RAMP), which included investment in bonds it issues.
A statement by the Central Bank of Egypt said that “through the Department of Foreign Investments and Transfers, a plan has been prepared for cooperation with the World Bank in the management of reserves and investment in bonds issued in dollar currency, at least $ 300 million.” 
“The World Bank's Reserve Management Advisory Program (RAMP) is a platform to advise on the development of asset and reserve management in developing countries and international institutions to enable them to maximize their financial resources.”
  • Thanks 1
  • Upvote 4
Link to comment
Share on other sites

135345.jpg?width=750&&height=375

central bank
2019/09/03 12:24
  • The number of readings 58
  • Section: Iraq
  •  
  •  

Central Bank announces the establishment of a banking relationship with the World Bank's RAMP program

BAGHDAD / Obelisk: The Central Bank of Iraq, Tuesday, September 3, 2019, continue to establish a banking relationship with the advisory program for the management of reserves "RAMP" of the World Bank, indicating that the relationship included investment in bonds issued.

The bank said in a statement to the obelisk, it "continues to establish a banking relationship with the reserve management advisory program" RAMP "of the World Bank," noting that "the relationship included investment in bonds issued." 

"Through the Department of Investments and External Remittances, a plan has been prepared for cooperation with the World Bank in terms of reserves management and investment in bonds issued in dollars, at least $ 300 million." 

The World Bank's Reserves Management Advisory Program (RAMP) is a platform for advising on asset and reserve management development in developing countries and international institutions to enable them to maximize their financial resources. 

Follow the obelisk

http://almasalah.com/ar/news/177690/المركزي-يعلن-إنشاء-علاقة-مصرفية-مع-برنامج-RAMP-التابع-للبنك-الدولي

 

 
  • Like 2
  • Thanks 1
  • Upvote 3
Link to comment
Share on other sites

2019/09/03 11:58:14 AM 74

The CBI establishes a banking relationship with a World Bank program

The CBI establishes a banking relationship with a World Bank program

 

Baghdad / Al-Ghad Press:

The Central Bank of Iraq, on Tuesday, to proceed with the establishment of a banking relationship with the advisory program to manage the reserves of the World Bank's RAMP, and this relationship included investment in bonds issued.

 

 

"Through the Department of Investments and Foreign Remittances, a plan has been prepared to cooperate with the World Bank in the management of reserves, and invest in bonds issued in dollars, at least $ 300 million," the bank said in a press release.

"The World Bank's RAMP Advisory Program is a platform for advising on developing asset management and reserves in developing countries and international institutions to enable them to maximize their financial resources," he said.

  • Thanks 1
  • Upvote 4
Link to comment
Share on other sites

“The World Bank's RAMP Advisory Program is a platform for advising on developing asset management and reserves in developing countries and international institutions to enable them to maximize their financial resources," 

 

RAMP has a broad range of development impact. It builds human capital by sharing financial knowledge and developing financial expertise among key leaders and officials whose work contributes to the health of developing countries’ public and private sectors. It strengthens countries’ financial stability, economic resilience, and socio-economic well-being through the promotion of best practices in reserve management at official sector institutions. It also empowers international development agencies by sharing knowledge and expertise that helps maximize their financial resources.

 

CBI continues moving forward on his quest to an open market economy 

 

Go CBI

Go WB support 

Go open market economy 

Go RV

Go $1+

  • Thanks 4
  • Upvote 9
Link to comment
Share on other sites

 

 

Central Bank announces strategic banking projects for the next five years

 

 

16923.jpg
 
  

By Samir al-Nusairi

In the monthly meeting of the government and private banking leaders, Mr. Ali Al-Alak, Governor of the Central Bank of Iraq, stressed the continuation of the approach that the Bank is pursuing to stimulate the economy and build the capacity and development of the banking sector in order to move to the development role and contribute to financing investment and reconstruction projects. The exchange rate as the main achievement of monetary policy applications and one of its important objectives, which has positive repercussions on the revitalization of the economy and stabilize the monetary and financial system. Ed oil as a key resource for revenue and continuing imports of all goods and not to encourage and support local production will inevitably lead to the continuation of the bank offer to sell dollars, according to its law because the reason is not supply but demand for the dollar for the reasons above.

The central bank announced at the meeting the launch of its strategy for the next five years to implement 21 projects for the development of the banking business after it was able to most of the main objectives to achieve the sub - first strategy for years (2016 - 2020 ) , which became possible that the starting process begins full objectives of monetary policy to achieve the transition to The ranks of international banks sober certified by specialized international financial organizations. And that of the strategic banking projects which have been identified for future objectives and its impact according to a program for each project is limited to periods of implementation and reach the target during the years (2019 - 2023These are development projects related to achieving financial inclusion such as the settlement of salaries and projects to restore confidence in the banking sector, such as the Deposit Guarantee Company, projects for structural, administrative and legal development such as the government guide project, projects for training, rehabilitation, capacity building, classification of banks, and projects to move banks from the role of banking to contributing to development as a combined Islamic finance project. It should be noted here that although the bank has begun planning for these projects since 2016 but also as stated the government is committed to the curriculum as it comes to the banking sector and as targeted by the National Development Plan (2018 - 2022 ) and the vision of Iraq in 2030.

The central bank's emphasis on working in accordance with its approach to economic reform since 2015 is anchoring the reality that the central bank and its current administration embody a bright spot in an unstable economic environment for subjective and objective reasons.

The results highlighted the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives specified in its law, and its contribution to achieve economic resilience and promote the decisive victory over terrorism.

In addition to the results achieved on the scope of applications of monetary policy internally and convince global financial organizations, the most important official reports issued by them confirmed the success of the Central Bank's policy in achieving an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, one of the objectives of strengthening the economy.

In addition to his contributions and multiple initiatives to stimulate the economic cycle and enhance liquidity in banks and reach to re-coordinate bridges between the financial and monetary policies and propose new economic and structural policies to prepare public budgets for the coming years on the basis of programs and not items and attempts to restore confidence in the banking system.

The Central Bank has demonstrated its clear ability to interact, analyze business constraints and create conditions to overcome challenges. To build a solid national economy.

Views: 360   Added on 03/09/2019

 
  • Like 1
  • Thanks 5
  • Upvote 4
Link to comment
Share on other sites

45 minutes ago, Carrello said:

 

 

Central Bank announces strategic banking projects for the next five years

 

 

16923.jpg
 
  

By Samir al-Nusairi

In the monthly meeting of the government and private banking leaders, Mr. Ali Al-Alak, Governor of the Central Bank of Iraq, stressed the continuation of the approach that the Bank is pursuing to stimulate the economy and build the capacity and development of the banking sector in order to move to the development role and contribute to financing investment and reconstruction projects. The exchange rate as the main achievement of monetary policy applications and one of its important objectives, which has positive repercussions on the revitalization of the economy and stabilize the monetary and financial system. Ed oil as a key resource for revenue and continuing imports of all goods and not to encourage and support system" rel="">support local production will inevitably lead to the continuation of the bank offer to sell dollars, according to its law because the reason is not supply but demand for the dollar for the reasons above.

The central bank announced at the meeting the launch of its strategy for the next five years to implement 21 projects for the development of the banking business after it was able to most of the main objectives to achieve the sub - first strategy for years (2016 - 2020 ) , which became possible that the starting process begins full objectives of monetary policy to achieve the transition to The ranks of international banks sober certified by specialized international financial organizations. And that of the strategic banking projects which have been identified for future objectives and its impact according to a program for each project is limited to periods of implementation and reach the target during the years (2019 - 2023These are development projects related to achieving financial inclusion such as the settlement of salaries and projects to restore confidence in the banking sector, such as the Deposit Guarantee Company, projects for structural, administrative and legal development such as the government guide project, projects for training, rehabilitation, capacity building, classification of banks, and projects to move banks from the role of banking to contributing to development as a combined Islamic finance project. It should be noted here that although the bank has begun planning for these projects since 2016 but also as stated the government is committed to the curriculum as it comes to the banking sector and as targeted by the National Development Plan (2018 - 2022 ) and the vision of Iraq in 2030.

The central bank's emphasis on working in accordance with its approach to economic reform since 2015 is anchoring the reality that the central bank and its current administration embody a bright spot in an unstable economic environment for subjective and objective reasons.

The results highlighted the experience of the Central Bank in supporting the national economy while maintaining its functions and objectives specified in its law, and its contribution to achieve economic resilience and promote the decisive victory over terrorism.

In addition to the results achieved on the scope of applications of monetary policy internally and convince global financial organizations, the most important official reports issued by them confirmed the success of the Central Bank's policy in achieving an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, one of the objectives of strengthening the economy.

In addition to his contributions and multiple initiatives to stimulate the economic cycle and enhance liquidity in banks and reach to re-coordinate bridges between the financial and monetary policies and propose new economic and structural policies to prepare public budgets for the coming years on the basis of programs and not items and attempts to restore confidence in the banking system.

The Central Bank has demonstrated its clear ability to interact, analyze business constraints and create conditions to overcome challenges. To build a solid national economy.

Views: 360   Added on 03/09/2019

 

and raise its purchasing power, one of the objectives ofstrengthening the economy!👌

 

Can we have a imminent on this too please.

  • Like 2
  • Upvote 5
Link to comment
Share on other sites

10 minutes ago, jg1 said:

and raise its purchasing power, one of the objectives ofstrengthening the economy!👌

 

Can we have a imminent on this too please.

 

They are talking like it is past tense, but my bank ballance is telling me different!😒

Confirmed the success of the Central Bank's policy in achieving an important transition to the Iraqi economy and achieve stability in the exchange rate and the recovery of the Iraqi dinar and raise its purchasing power, 

Edited by jg1
  • Haha 2
  • Upvote 4
Link to comment
Share on other sites

1 hour ago, danielchu said:

Selling the dollar will continue means no RV for us !

 

????????

Don't follow your thinking danielchu, first off why would you think Iraq would stop selling the dollar? Are you thinking that no Iraqi will ever visit the USA again an what pray tell would that have to do with the RV?

  • Thanks 1
  • Upvote 2
Link to comment
Share on other sites

3 minutes ago, DoD said:

 

????????

Don't follow your thinking danielchu, first off why would you think Iraq would stop selling the dollar? Are you thinking that no Iraqi will ever visit the USA again an what pray tell would that have to do with the RV?

MCPs IMF says they must stop for an RV!!

 

https://www.imf.org/external/SelectedDecisions/Description.aspx?decision=6790-(81/43)

Edited by danielchu
  • Like 1
  • Thanks 3
  • Upvote 4
Link to comment
Share on other sites

any and everyone that has been around the block with all this long enough knows the currency auction was a tool to control inflation shabibi worked it perfectly but after he was run out of Iraq by the crooks the auctions were used as a tool for corruption yes they were still doing what the original intent was set out to be but many different forms of corruption has followed sadly , Iraq will always have USD at banks but IMO it should not be the main currency inside Iraq i highly doubt Maliki and every other jack wagon was stealing iqd , anyways looking forward to the day following after Iraq is over with for sure ..... enjoyed the article Carrello , all the best to us all

  • Like 3
  • Thanks 3
  • Upvote 3
Link to comment
Share on other sites

I would not be surprised at all if most of the auction money made its way to Iran You cannot buy Iraqi dinars except in Iraq and the USA ,which required a presidential order . Ebay and  US dinar dealers will buy at your loss  .it would be interesting to know if you can buy dinar on ebay in Kuwait  if it even exists there 

  • Like 2
Link to comment
Share on other sites

6 hours ago, danielchu said:

danielchu, 

Still not following you, where in your article does it say to stop the multiple currency practice before you can RV? 

At present Iraq does not have a MCP issue. The difference between the buy an sell has been under 2% for well over a year. 

Look at the start of your article 1. A.(I) it tells you about the 2% spread....

  • Like 1
  • Thanks 2
Link to comment
Share on other sites

1 hour ago, dinarham said:

I would not be surprised at all if most of the auction money made its way to Iran You cannot buy Iraqi dinars except in Iraq and the USA ,which required a presidential order . Ebay and  US dinar dealers will buy at your loss  .it would be interesting to know if you can buy dinar on ebay in Kuwait  if it even exists there 

 

Kuwaiti Money changers back in ‘ 05 & ‘ 06 were openly selling dinars in accordance with all laws ( I was a government contractor there from 04 - 06 ). Don’t know these days what they’re up to. I can inquire if it’s important.

Haven't a clue to the eBay in Kuwait purchases. Not sure if it would even be allowed. 

  • Upvote 2
Link to comment
Share on other sites

December 2016

International Monetary Fund
IMF Country Report No.16/379

IRAQ

FIRST REVIEW OF THE THREE-YEAR STAND-BY
ARRANGEMENT AND FINANCING ASSURANCES REVIEW,
REQUESTS FOR WAIVERS OF NONOBSERVANCE AND
APPLICABILITY OF PERFORMANCE CRITERIA,
MODIFICATION OF PERFORMANCE CRITERIA, AND
REPHASING OF THE ARRANGEMENT—PRESS RELEASE;
STAFF REPORT; AND STATEMENT BY THE EXECUTIVE
DIRECTOR FOR IRAQ

Page 58 & 59 of 109 pages

D. Foreign Exchange Policy

23. The government is committed to maintaining the peg with the U.S. dollar. The peg provides a key nominal anchor in a highly uncertain environment with policy capacity weakened by the conflict with ISIS. In August 2016, the CBI increased the amount of daily foreign exchange sales (¶14), without significant impact on the spread so far. To address concerns that foreign exchange sales by the CBI would finance terrorism or money laundering of illegal activities, the CBI has been strengthening its procedures to allocate foreign exchange with the technical assistance of the U.S. Treasury and the Federal Reserve Board and the recourse to external auditors. The CBI has also requested the technical assistance of the IMF Monetary and Capital Markets Department to analyze the reasons why the exchange rate spread between the official rate of the CBI foreign exchange sales and the parallel market rate has increased since the end of 2015 and to make recommendations to reduce the spread.

24. The government will gradually remove remaining exchange restrictions and a multiple currency practice (MCP) with a view to eliminating exchange rate distortions. Such a move towards acceptance of the obligations under

6 The downward revision of the debt-to-GDP ratios compared to the SBA request stems from: (i) the downward revision of the stock of external public debt by $1 billion at end-2015 due to the elimination of double counting of one debt; the upward revision of nominal GDP in 2014–15 explained above (¶6); and the upward revision of oil production by 0.2 mbpd; and the upward revision of oil prices by about $2.5 per barrel in the medium term compared to the SBA request.

Article VIII of the IMF’s Articles of Agreement will send a positive signal to the investment community that Iraq is committed to maintain an exchange system that is free of restrictions and MCPs for current international transactions and thus facilitate creation of a favorable business climate. As a first step, on October 16, 2016, the CBI made the weekly limits on the purchase of cash at the foreign currency auctions indicative, in the sense that any bank requiring additional cash for their clients’ legitimate travel expenses will be able to obtain the required amount above these limits on the basis of appropriate documentation. As a second step, the CBI will issue clarifying implementing regulations, to remove the limitation on transfer of investment proceeds that gives rise to an exchange restriction (SB, Table 2), as recommended by a recent technical assistance mission of the IMF.

  • Like 4
  • Upvote 3
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
 Share

  • Recently Browsing   0 members

    • No registered users viewing this page.
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.