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The Central Bank of Iraq supports the establishment of a sovereign fund for future generations

The Central Bank of Iraq supports the establishment of a sovereign fund for future generations
Central Bank of Iraq
 

Mubasher: The Central Bank of Iraq confirmed, today, Wednesday, its support for the establishment of a sovereign fund for future generations.

 

A central bank statement said today, Wednesday, that "the Governor of the Central Bank, Mustafa Ghaleb, participated in the financial and banking services exhibition held in Baghdad, along with the Minister of Finance and a number of representatives of the banking and financial sector."

In his speech, he stressed that the Central Bank has an important role in achieving macroeconomic balance through various monetary policy tools, especially after the financial and economic challenges that Iraq faced.

He pointed out that "this bank - and in order to stimulate economic activity and reduce unemployment - launched an initiative with an amount of more than 5 trillion dinars in addition to the previous initiative launched in 2015, in addition to the fact that the Central Bank deducted treasury transfers 2020 and 2021 for the necessary funding for the Ministry of Finance despite the fact that Debt increase and negative impact, but historical necessity requires it.”

He added that "the bank is working with the Ministry of Finance to reform government banks, enhance financial inclusion and develop infrastructure for technical services and cybersecurity."

The governor continued, "The Central Bank supports the establishment of a sovereign fund for future generations, in which state institutions and oil revenues contribute," noting that "the presence of this fund mitigates the potential risks in light of oil price fluctuations, and contributes to building a secure future for future generations."

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Iraq finally has people in charge who believe in managing and growing their wealth instead of lining their pockets with it.  As one book says, "He who has will be given more.  He who doesn't have, even what little he has will be taken away".  In other words, the rich keep getting richer and the poor keep getting poorer!  We want Iraq to be a rich country!!

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The central bank does the payments system

Economie01:23 - 09/22/2021

 
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Baghdad - Mawazine News

The Governor of the Central Bank of Iraq, Mustafa Ghaleb, stressed, on Wednesday, that we need to combine the state’s measures to ease and reduce by launching a clearly defined strategy and starting with commodities that have an advantage such as agricultural products, noting that it is not hidden from everyone that the Central Bank plays an important role in achieving balance. Macroeconomic conditions that have passed since 2019 until now.
Makheif said in a speech during the annual conference of the financial and banking services exhibition, that "it is not hidden from everyone that the central bank plays an important role in achieving macroeconomic balance in light of the conditions that have passed since 2019 until now through various monetary policy tools, we have faced challenges The most important of which is the drop in oil prices and domestic production, the high budget deficit of the state and the high volume of the internal public debt.
He added, "To stimulate economic activity and reduce unemployment, the bank launched an initiative with an amount of more than 5 trillion dinars, in addition to the previous initiative that was launched in 2015 to stimulate the various industrial and agricultural sectors, services and housing in a balanced manner with reduced interest rates and sometimes without interest, as in the housing sector by achieving an economic renaissance." .
And the governor of the Central Bank said, "We need to combine the state's measures by reducing and launching a clear strategy and starting with goods that have an advantage, such as agricultural products."
And he indicated, "The Central Bank has deducted treasury transfers 2020 and 2021 to finance the dues of the Ministry of Finance, despite the increase in debt and the negative impact, but it is a historical necessity to find a solution to the financial crisis that the country went through and to cross to safety."
He stressed, "The Central Bank of Iraq is working with the Ministry of Finance on reforming government banks, as well as activating payment systems by activating financial inclusion and access to services to all citizens, as the number of accounts doubled from 3 million in 2019 to 6 million in the year 2020, and also increased." The number of electronic cards ranged from 10 million to 12 million.
He noted that "
With regard to the issue of digital transformation, the governor of the Central Bank stressed, "The bank is working on developing technical infrastructure and cybersecurity, automating services, and setting and opening electronic wallets." Ended 29/A43

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9 hours ago, PrehistoricMan said:

So when was this nesara implemented?  What is the start date?

I am not exactly sure.  Some say, it was Jan 6 after his speech and when he told the peeps there to "go in peace"  I do know that when the transition happened it did not go from Trump to Buyden it went from Trump to the Military.  That is why the fence was around the "Corporation of DC" that no longer exists. I am also in the belief that Trump was inaugurated in March (which could have been the "start" date) and has been working hard behind the scenes to get rid of the evil/corruption that we have been subjected to for 100's of years. Including human and child trafficking, drug trafficking adreanachrome harvesting etc.  I do know that there are things that had to happen prior to implementation and the Deep State has and is creating the havoc (false flags) to prevent it.  Just like they did with 9/11.  (Nesera/Gesera) was supposed to happen the day after on  9/12.  Yes, a horrible and tragic False Flag event was implemented on the US to stop it from happening.  If you are unaware of all of the above you can research it to discover for yourself.  However, be prepared to go down some serious Rabbit holes and to be completely shocked at all that you will find.  I'm sure that there are some on this site that will laugh and make fun of what I have just stated... those are the ones that won't be able to handle what's coming.   Again, if this is too much for you to handle, I suggest you dig deep to discover some truth for yourself prior to judging others that have.  The fall cabal . com has a series of 17 videos that will help to get you started...In the beginning It helped me tremendously. Think about this... why would a man that had everything he needed (including money, family, lifestyle etc) become President... just to work his ASS off and fulfill EVERY SINGLE ONE of his campaign promises..bring back jobs, industry, stock market, low fuel prices, low inflation...all while being falsely accused of corruption, collusion and attempted to be impeached twice (2nd time while he was "out of office".... while his life was seriously threatened over 50 times and not taking a penny for his work!!!!?????  Why would "they" want him gone and DEAD so badly??? Seriously! WHY????  Don't vomit what you learned from the tell a vision. because it is ALL LIES!!! Here is another question for you...Why do you think he has been run so viciously through the ringer like he was/is??? Because he is doing exactly what JFK was murdered for.   If you are still in the "Orange Man Bad" camp may I suggest you turn off your tel a lie vision  "programming" because  obviously you have and still are being lied to! 

Sorry for the RANT... I felt that it needed to be said because there are so many on here that are currently and will be lost when the truth is revealed. (buckle up because it is coming very shortly)

I Also think that the GFS, the revalue of most currencies and NESARA/GESARA are close.  There are 200 and something countries that have capitulated and are part of GESARA.  IRAQ is part of GESARA and they have also gotten to a point that they are compliant and can revalue at or around the same time GESARA is implemented. NESARA is for the USA where we will have a new currency under the US Treasury. 

Go find some rabbits...

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13 minutes ago, luvalife said:

I am not exactly sure.  Some say, it was Jan 6 after his speech and when he told the peeps there to "go in peace"  I do know that when the transition happened it did not go from Trump to Buyden it went from Trump to the Military.  That is why the fence was around the "Corporation of DC" that no longer exists. I am also in the belief that Trump was inaugurated in March (which could have been the "start" date) and has been working hard behind the scenes to get rid of the evil/corruption that we have been subjected to for 100's of years. Including human and child trafficking, drug trafficking adreanachrome harvesting etc.  I do know that there are things that had to happen prior to implementation and the Deep State has and is creating the havoc (false flags) to prevent it.  Just like they did with 9/11.  (Nesera/Gesera) was supposed to happen the day after on  9/12.  Yes, a horrible and tragic False Flag event was implemented on the US to stop it from happening.  If you are unaware of all of the above you can research it to discover for yourself.  However, be prepared to go down some serious Rabbit holes and to be completely shocked at all that you will find.  I'm sure that there are some on this site that will laugh and make fun of what I have just stated... those are the ones that won't be able to handle what's coming.   Again, if this is too much for you to handle, I suggest you dig deep to discover some truth for yourself prior to judging others that have.  The fall cabal . com has a series of 17 videos that will help to get you started...In the beginning It helped me tremendously. Think about this... why would a man that had everything he needed (including money, family, lifestyle etc) become President... just to work his ASS off and fulfill EVERY SINGLE ONE of his campaign promises..bring back jobs, industry, stock market, low fuel prices, low inflation...all while being falsely accused of corruption, collusion and attempted to be impeached twice (2nd time while he was "out of office".... while his life was seriously threatened over 50 times and not taking a penny for his work!!!!?????  Why would "they" want him gone and DEAD so badly??? Seriously! WHY????  Don't vomit what you learned from the tell a vision. because it is ALL LIES!!! Here is another question for you...Why do you think he has been run so viciously through the ringer like he was/is??? Because he is doing exactly what JFK was murdered for.   If you are still in the "Orange Man Bad" camp may I suggest you turn off your tel a lie vision  "programming" because  obviously you have and still are being lied to! 

Sorry for the RANT... I felt that it needed to be said because there are so many on here that are currently and will be lost when the truth is revealed. (buckle up because it is coming very shortly)

I Also think that the GFS, the revalue of most currencies and NESARA/GESARA are close.  There are 200 and something countries that have capitulated and are part of GESARA.  IRAQ is part of GESARA and they have also gotten to a point that they are compliant and can revalue at or around the same time GESARA is implemented. NESARA is for the USA where we will have a new currency under the US Treasury. 

Go find some rabbits...

💥BOOM💥

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Deputy Executive Director of the Association of Association of Iraqi Private Banks Ahmed Al-Hashemi
  

 money and business


Economy News _ Baghdad

The Deputy Executive Director of the Association of Iraqi Private Banks, Ahmed Al-Hashemi, called on the government to focus on the digital economy during the current years to make Iraq keep pace with the development taking place in the world. 
Al-Hashemi said in a statement seen by "Al-Iqtisad News", that "Iraq needs to give the private sector the appropriate environment to transition to digital transformation, as the revolution in information and communications is currently similar to what the world witnessed in the industrial revolution that occurred in 1760," noting that "the legislative authority The future needs to focus on supporting the digital economy through appropriate legislation.” 
Al-Hashemi pointed out that the world is witnessing great leaps in technological development, as the transactions of companies and citizens are completed via the Internet without any review, while Iraq is still adopting the primary mechanisms that increase financial and administrative corruption and contribute to the delay in completing the transaction in terms of time. 
Al-Hashemi praised the government’s tendency to establish a youth support fund with an amount of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, pointing out that the private banking sector has begun to publish electronic payment tools in all the country, and requires Shop owners need to use a Pos device to organize the buying and selling process, reduce theft, waste, and more.

 
 
Views 61   Date Added 09/24/2021
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The Association of Private Banks calls on the government to focus on the digital economy

Economie02:22 - 09/24/2021

 
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Baghdad - Mawazine News 
, Deputy Executive Director of the Association of Iraqi Private Banks, Ahmed Al-Hashemi, on Friday, called on the government to focus on the digital economy during the current period to make Iraq keep pace with the development taking place in the world. 
Al-Hashemi said, in a statement received by Mawazine News, that "Iraq needs to give the private sector the appropriate environment to transition to digital transformation, as the revolution in information and communications is currently similar to what the world witnessed in the industrial revolution that took place in 1760," noting that " The next legislature needs to focus on supporting the digital economy through appropriate legislation.” 
Al-Hashemi pointed out that 
Al-Hashemi praised the government’s approach to establishing a youth support fund of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, noting that “the private banking sector has begun to publish electronic payment tools in all the country.” And it requires shop owners to use a Pos device to organize the buying and selling process and reduce theft, waste, and others.” Ended 29/p4 

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calendar.png 2021/09/24
 
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Baghdad / Al-Mawrid News

 

The Deputy Executive Director of the Association of Iraqi Private Banks, Ahmed Al-Hashemi, on Friday, called on the government to focus on the digital economy during the current period to make Iraq keep pace with the development taking place in the world .

Al-Hashemi said, in a statement, that "Iraq needs to give the private sector the appropriate environment to transition to digital transformation, as the revolution in information and communications is currently similar to what the world witnessed in the industrial revolution that occurred in 1760," noting that "the next legislative authority needs to focus on Supporting the digital economy through appropriate legislation .

Al-Hashemi pointed out that "the world is witnessing great leaps in technological development, as the transactions of companies and citizens are being completed via the Internet without any review, while Iraq is still adopting the primary mechanisms that increase financial and administrative corruption and contribute to the delay in completing the transaction in terms of time ."

Al-Hashemi praised the government’s approach to establishing a youth support fund of 30 billion dinars, which supports technical projects, which contributes to the development of the Iraqi economy and makes young people go towards pioneering projects, noting that “the private banking sector has begun to publish electronic payment tools in all the country.” And it requires store owners to use a Pos   device to organize the buying and selling process and reduce theft, losses, and others .”

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Part of the discussion
  

 money and business


Economy News _ Baghdad

The economic and banking advisor to the Association of Iraqi Private Banks, Samir Al-Nusairi, called during his management of the first session for the second day of the conference of the Iraq Exhibition for Finance, Financial Inclusion and Development, held on September 22 and 23, at Al-Rasheed Hotel, to involve a representative of the private banking sector, which has 72 operating banks, commercial and Islamic banks. In making economic decisions that would contribute to economic and banking reform and in line with the goals and projects mentioned in the white paper.

Al-Nusairi stressed the need to add a representative of the private banking sector in the Supreme Committee for Economic and Financial Reform formed in the Council of Ministers, and reviewed the negative effects caused by external and internal economic challenges and shocks due to the drop in oil prices and the Corona pandemic, and the efforts made by the Central Bank to launch its financing initiatives aimed at stimulating the economy And revitalizing the economic cycle, for which 5 trillion dinars were allocated, in addition to the 6 trillion that were allocated to financing small and medium enterprises in 2016.

The speakers in the session were a representative of the Ministry of Finance (Director General of the Iraqi Fund for Foreign Development) and the Central Bank of the Financial Operations Department. The session discussed how banks can contribute to financing small, medium and large projects. They support the reconstruction of Iraq, risk structuring, and new investment promotion initiatives to promote foreign investment.

 
 
Views 99   Date Added 09/25/2021
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Articles
Samir Al-Nusairi 

 His Excellency the Governor of the Central Bank announced in his speech at the opening of the (Iraq Exhibition for Finance, Financial Inclusion and Development) conference that was held in Baghdad for the period 22 and 23 of this month, “The Central Bank has an important role in achieving macroeconomic balance through various monetary policy tools Especially after the financial and economic challenges that Iraq faced," stressing that the financing initiatives launched by the bank during the current year and the results achieved aimed to stimulate the economy, revitalize the economic cycle and reduce the unemployment rate.Referring to the measures taken by the bank to facilitate the financing of small, medium and housing projects and large development projects, which contributed to raising the percentage of loans granted to more than 150%, adding that the bank launched an initiative amounting to more than 5 trillion dinars in addition to the previous initiative launched in the year 2015, as well as For the Central Bank to deduct treasury transfers to face the country's economic and financial crisis and support the national economy.
Through our follow-up to the bank’s procedures, activities and initiatives for one year since its launch and the issuance of the white paper, and by analyzing the data and evaluating indicators for the bank’s specialized departments and implementing the banking reform program, we have ensured the success of the Central Bank’s economic and lending initiatives and steps, which are a number of reform measures planned and put into effect by the Central Bank during In 2021, which was accompanied by the decision to reduce the exchange rate of the dinar in order to reduce the burdens that citizens with low incomes are expected to suffer and for the purpose of creating a monetary balance in the trading market, which resulted in the stability of the dinar exchange rate during the current month at the target rate of 1470 dinars compared to 100 US dollars.
In addition to facing the repercussions that can occur as a general situation facing countries that reduce the exchange rate of their local currency and investing in positive cases to strengthen the government’s financial position, reduce the budget deficit and overcome the causes of internal and external borrowing, in addition to protecting and supporting the local product, activating the real sector and gradually reducing dependence on oil rents.

Governmental and private banks have contributed to the implementation of the above-mentioned Central Bank initiatives. 
 The important question is what is the role of banks in implementing the plans of the Central Bank in supporting the national economy? And what do you actually check?
Despite the complex and accumulated suffocating financial crises due to the decline in oil prices, the decline in revenues from it, the spread of the Corona pandemic and the negative effects on the decline in GDP and the low rate of economic growth due to the recession in the global economy and the Iraqi economy during the years 2020 and 2021, but our banks made great efforts and implemented the bank’s instructions The Central Bank continued to provide banking services and products to individuals and companies and to grant loans to finance small, medium, housing and large projects and interacted greatly with the Central Bank’s lending initiatives to stimulate and stimulate the economy.
As 9000 small and medium projects were financed out of the amount allocated only to private banks, the operation of up to 12,000 unemployed people, and an amount of up to 750 billion dinars was disbursed, with an implementation rate of 75% of the one trillion dinars initiative only, while continuing to grant employees and citizens a loan, the recent Central Bank initiative of 15 million dinars without Interest and without a sponsor, in addition to the continuation of specialized government banks to lend industrial, agricultural and housing projects from the previous five trillion initiative and the new five trillion dinars, which constitute an advanced lending rate, especially housing loans, with reference to the role of the central bank and banks in supporting the national economy in crises, so banks during crises The economic faced by the Iraqi economy contributed and implemented precisely the instructions and initiatives of the Central Bank to raise the percentage of financial inclusion and achieved a growth of up to 50% in the new open accounts, and the number of accounts became about (6) million accounts. 
It also implemented the strategy of the Central Bank with regard to developing electronic payment systems and moving to the cashless society. The number of ATMs operating in our banks reached (1300) tellers and points of sale with up to (5) thousand points of sale, and the number of activated bank cards reached (12) million cards. The other important aspect that the bank has done, and our banks have played an active role in its implementation, is the commitment to international rules and standards for compliance, anti-money laundering, financial reporting and risk management.

* Economic and banking consultant

 

 
 
Views 129   Date Added 09/26/2021
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 Baghdad: Hussein Thaghb 
The participants in the Finance and Banking Services Conference and Exhibition in Iraq unanimously agreed that the reform process adopted by the government is inevitable, and is considered the gateway to the world of sustainable development that the country aspires to. The conference, which was organized by the International Frontier Exchange, witnessed an official local and international presence that addressed the reality of the financial sector and its advanced technologies, and the shift towards digital transactions that the local market is witnessing, and is rapidly evolving, requiring careful follow-up by our banking system. Finance Minister Dr. Ali Abdel Amir Allawi said: “The government has adopted an important reform path that won the approval of major international organizations specialized in economic affairs,” pointing out that “Iraq must actually move towards achieving a plurality of resources, taking advantage of the country’s total assets.” .  
He stressed that "the trend towards the digital economy is a necessity and contributes to development and expands job opportunities and requires bringing digital infrastructure and supporting its skills, financial and digital services, and attention to digital entrepreneurs," calling on government banks to digitize their operations on an effective and competitive basis. 
 
Balance 
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, stressed that “the Central Bank has an important role in achieving macroeconomic balance through the various monetary policy tools, especially after the financial and economic challenges that Iraq faced.”
Pointing out that «this bank, in order to stimulate economic activity and reduce unemployment, launched an initiative with an amount of more than 5 trillion dinars, in addition to the previous initiative launched in 2015, in addition to the central bank deducting treasury transfers 2020 and 2021 for the necessary financing for the Ministry of Finance despite the increase in debt. and negative impact, but historical necessity requires it.” 
 
private sector
The Chairman of the Board of Directors of the Trade Bank of Iraq Salem Chalabi talked about the issue of credit and assistance to the private sector, and said: “The focus during the next stage should be on the private sector, to accommodate the numbers of human resources that enter the labor market annually,” noting that “the bank is looking with The World Bank has some projects to support the private sector, as we are studying 22 project opportunities that provide more than 80,000 job opportunities.” 
 
financial systems
Canadian Ambassador Orlik Shannon said: “The topic of the conference is important and we are present to help Iraq restructure its financial systems,” noting that “the Corona pandemic has accelerated society’s interaction with digital financial transactions,” praising the “draft of reforms proposed by the government and heading towards the private sector, Creating an environment that welcomes foreign investment. 
 
national wealth
The insurance specialist, Yasser Sabri, stressed that “insurance companies still have a prominent and pivotal role in the development and accumulation of premiums in any country to employ them in the process of protecting and developing economic and development structures, and everyone knows what this sector represents in protecting the national wealth, individuals and institutions, against the risks that surround And designing ways to confront them, especially as we are heading towards a broad and comprehensive reconstruction campaign for infrastructure and a qualitative leap in investments in various urban, industrial and agricultural fields.”
He cautioned that «the importance of this sector is not limited to securing individuals and companies only, but also takes an important advisory role in risk management, especially those related to high-risk investments such as airports, ports, transport projects and giant infrastructure projects; Because of its great importance in the development of the joints of the state and society.”
 
world companies
The specialist in economic affairs, Muhammad Abdul Hakim, stressed that “the Iraqi economy is the most successful in the region in its interaction with the digital economy, which is expanding horizontally and at acceptable rates, and Iraq has become a destination for the region’s companies and the most important companies in the world.” He pointed out that "reliance on international companies in the digital economy will make us lose profits and their amounts will go to markets outside the country, and here it is possible to benefit from global experiences in this field, and the digital economy is managed by local companies, and that there is protection for companies."
 
digital services 
In turn, the Executive Director of the Association of Private Banks, Ali Tariq, said: "Digital services facilitate performance and the multiplicity of services obtained by citizens and institutions." Urging "the need to adopt it and be at the forefront of the projects that the country should head towards." He pointed out that «Iraq has 35 government and private banks that issue digital cards, 20 electronic payment companies and 4 mobile payment companies, and we have nearly 5 million bank accounts».
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