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Adam Montana Weekly 14 October 2020


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4 hours ago, Adam Montana said:

I can't wrap this up without a shout out to this thread:

 


:o 

 

:D  :D  :D 

 

Central Bank: a decline in the accumulated quantities of foreign currency


Wednesday 14th October 2020 - 08:14

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Baghdad - conscious

 

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, suggested that foreign reserves in the bank would decline due to the increase in import financing and the decline in dollar revenues from the Ministry of Finance.
 
"The decline in the global price of oil and the reduction in production in Iraq, based on the OPEC agreement, led to a decrease in crude oil revenues and thus the dollar amounts that were the Ministry of Finance," he told Al-Sabah. It sells it to the Central Bank of Iraq in exchange for the Iraqi dinar, which it uses to finance its expenditures locally. " 
 
The governor added, "This led to a decline in the accumulated quantities of foreign currency at the central bank, in addition to the process of discounting the securities issued by the Ministry of Finance, for the purpose of bridging the deficit witnessed by the government in financing its spending, especially the current spending by the Central Bank of Iraq for the benefit of government banks."
 
He noted, “Most of the current spending will turn into a consumer demand that ultimately represents a demand for the US dollar, and with the central bank meeting this demand to finance imports, foreign reserves are expected to witness a decline in addition to the decline resulting from the decrease in oil revenues if the current data do not change. ".

LINK

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10 hours ago, Adam Montana said:

To our news posters - we were making sure we didn't post duplicates,

but that seems to be happening a bit more often.


What If It’s From The Ministry Of Redundancy Ministry ? :o 
 

image.gif.ab51784613e9bf2643e7dbb97cbe56cd.gif

Weegie Lewis Chairman ...

 

:D  :D  :D 

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The Central Bank presents its vision for reforming the banking sector

Thursday 15 October 2020 130

The Central Bank presents its vision for reforming the banking sector
 
 Baghdad: Hazem Muhammad Habib
 
 
A few days ago, the Central Bank of Iraq put forward a vision to reform the reality of the banking sector in the country to strengthen the financial stability system based on competition.
The governor of the bank, Mustafa Ghaleb Makhaif, told Al-Sabah that “the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals it seeks to achieve and specified under its amended Law No. 56 of 2004, the most important of which is (ensuring the stability of domestic prices And the promotion of a stable financial system based on competition), to continue achieving the strategic objectives set out in the 2016-2020 plan. ”
The governor explains, “In order to do so, the bank recently proposed the terms of the reform paper for the banking sector, which has been initiated now, because of its importance in developing banking services and products in the next stage, and through it the banking sector will be supported to advance its current reality. Of the specific criteria adopted by the bank and on the basis of which the operating banks were classified, ”indicating that“ this classification will be reviewed by the end of this year, and this will continue for the following seasons. ”
The governor of the Central Bank says: “This step comes within the framework of strengthening confidence in the banking sector and improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.” Their conditions and the payment of their customers' dues, ”stressing that“ this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders owed by those banks
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On 10/14/2020 at 11:13 AM, Pitcher said:

Iraq’s Economy is 95% oil so hopefully we can get the CV under control and get things going again.  Here is an article I didn’t see posted. 

https://oilprice.com/Latest-Energy-News/World-News/Iraq-Proposes-New-Jointly-Managed-Oil-Company-For-Kurdistan.html

 

Thanks for bringing this article Pitcher ... :salute:Ron

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On 10/14/2020 at 3:15 PM, Longtimelurker said:

You can add me to that group😁

Absolutely Longtime  :partyhat:

 

 

The more the merrier 

On 10/14/2020 at 3:43 PM, new york kevin said:

Born in February , I can celebrate my b-day in October !

Done!!! The more the merrier NYK 🥳

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On 10/15/2020 at 12:08 PM, 6ly410 said:

The Central Bank presents its vision for reforming the banking sector

Thursday 15 October 2020 130

The Central Bank presents its vision for reforming the banking sector
 
 Baghdad: Hazem Muhammad Habib
 
 
A few days ago, the Central Bank of Iraq put forward a vision to reform the reality of the banking sector in the country to strengthen the financial stability system based on competition.
The governor of the bank, Mustafa Ghaleb Makhaif, told Al-Sabah that “the future vision for the work of the Central Bank of Iraq is centered in light of the economic crisis through the goals it seeks to achieve and specified under its amended Law No. 56 of 2004, the most important of which is (ensuring the stability of domestic prices And the promotion of a stable financial system based on competition), to continue achieving the strategic objectives set out in the 2016-2020 plan. ”
The governor explains, “In order to do so, the bank recently proposed the terms of the reform paper for the banking sector, which has been initiated now, because of its importance in developing banking services and products in the next stage, and through it the banking sector will be supported to advance its current reality. Of the specific criteria adopted by the bank and on the basis of which the operating banks were classified, ”indicating that“ this classification will be reviewed by the end of this year, and this will continue for the following seasons. ”
The governor of the Central Bank says: “This step comes within the framework of strengthening confidence in the banking sector and improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.” Their conditions and the payment of their customers' dues, ”stressing that“ this classification will be an opportunity for these banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders owed by those banks


The reforms have been applied. 
This was a strong statement. 
Thanks 6LY on da flo. 

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5 hours ago, Rochester said:

I had a dream last night. Went to the bank. Met the banker lady. I told her "I need some financial advice. I took a risky investment, that looks like it will pay off.".....first time I had an actual dream about the RV. :peace::flagsmiley::bananacamel:

Me 3 Hoping this comes to fruition....👍👍🙏🙏😁😁.

 

GO RV & RI

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2 hours ago, NEPatriotsFan1 said:

Wouldn’t that make it “Me Three”? 😂😂

 

2 hours ago, NEPatriotsFan1 said:

Oops 

 

looks like Tigergorzow beat me to that joke... sorry for the duplicate


So Now Wouldn’t That Make It A Six Pack ? :o 

 

image.jpeg.bb74312b7516853351699842eedc29df.jpeg

 

:D  :D  :D 

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