Economist: The control of the powerful over the currency auction prevents the dollar price from changing

[southbeach]

5 minutes ago, haden'sdad said:

Jmo,

I think we are in a really good place. Kuwait is almost paid. Sadr won. He's a nationalist. He shoud keep Kazemi. Keep in mind he doesn't want the US or Iran meddling in Iraqi affairs. I'm sure he's trying to find out who he can trust. The CBI is just doing their thing. Alot of politicians are out when they change to the new parliament. He's definitely not a fan of Maliki. I like where we are at going into 2022. 🙏 🤞 

Most beautifully stated friend

[GreedyDinar07]

I just don’t see how we are gonna get a RV by the beginning of the year with out the PM being seated, the GOI hasn’t been formed nor the HCL passed. I don’t see it happening just like the last 18 years. I  not being negative JMO......

[Carrello]

Laid Back, I'm polishing my dancing shoes. May I be so bold as to ask for the first dance?

[Laid Back]

7 minutes ago, Carrello said:

Laid Back, I'm polishing my dancing shoes. May I be so bold as to ask for the first dance?

Carrello, It will be a pleasure to dance with you 🕺💃

[screwball]

4 hours ago, southbeach said:

Most beautifully stated friend

yep we are in a great place....

[screwball]

On 11/3/2021 at 3:02 AM, Laid Back said:

The central bank of Iraq is on charge of monetary policy, (not the private banks or influential political parties). Since the CBI introduced the new set of instructions, the daily auctions when down about $100 million dollars a day. 
Al-kazemi government continues moving forward with the reforms project

aka White Papers. The reform of the banking system is part of the White papers second Axis.
- (Achieving macroeconomic reforms according to strategic principles, giving priority to productive economic sectors, and creation of sustainable employment opportunities)

 

(a) Banking sector
Objective:
The reform of this sector aims to “reform government banks towards working according to commercial standards, reduce their hegemony over the banking sector and pave the way for private banks to ensure the development of the sector and take its role as a lever for the Iraqi economy, end the role of government banks as an arm to finance government spending, return to the independence of these banks from the Ministry of Finance and restore people's confidence in the sector Banking in general”, through the following steps
1) Addressing the level of capital of all government banks and organizing the process of increasing their capital, if necessary
2) Establishing and activating the basic banking system in the Rafidain and Rasheed banks, and continuing with the steps previously taken towards restructuring these two banks after conducting a full financial review by international auditing companies
3) Appointing an international law firm to conduct a full audit of the international legal position of Al-Rafidain and Rasheed banks in order to return them to international dealings
4) Reconsidering the Industrial Bank Law and increasing its capital in order to expand its business base and present it as a model for reforming other government banks
5) Accelerate the development of electronic banking and mobile banking services to become the primary means of the payments system to encourage more access to traditional banking services and enhance financial inclusion.

6) Strengthening the ability of the Central Bank to perform its supervisory functions and enabling it to effectively supervise and regulate the banking sector, including the power of forced merger of low-performing banks
7) Implementing a deposit insurance system in order to enhance the confidence of depositors in the private banking sector
8- Complete the application of international accounting systems in all banks to improve their transparency practices and according to the Central Bank's instructions in this regard
9) Providing an appropriate environment to encourage private banks to lend a stimulus to the economy and move away from focusing on generating revenues through the issuance of guarantees, the currency window and other fees.
10) Adopting market mechanisms in determining the interest rate and profits for the Iraqi financial markets.

 

Go Iraq 

Go White Papers 

Go development 

Go open market economy 

Go purchasing power 

 

 

as always well said and factual

[screwball]

9 hours ago, GreedyDinar07 said:

Laidback, are you 100 percent sure Al-khezemi will be the PM??

i am 100%