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Iraq's Finance Minister: Economy, Dinar, Chapter 7, Iraq was on the verge of great economic revival would make it a destination for global investments

dinarbeleiver

By dinarbeleiver,
in Iraq & Dinar Related News

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dinarbeleiver

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18/12/2011

Central reduces the risk of high dollar and is expected to increase growth rates 12 percent a year

Stressed the importance of the withdrawal of foreign forces in the doubling of demand for investment companies

BAGHDAD - Fulayyih Heidar al-Rubaie

An official source at the central bank to total GDP in the years 2014-2015 more than $ 300 billion, asserting that Iraq was on the verge of great economic revival would make it a destination for global investments in the coming years, while he expressed a number of stakeholders in the economic fears of recession entry of firms and investors after the withdrawal of foreign troops from Iraq, the source said foreign forces out a clear signal to turn Iraq from a country's wars to a field of large investments by the civil power of companies and businessmen who seek to enter the arena of investment Iraqi remarkably and significantly.

The deputy governor of the Bank CBI appearance of Mohammed Saleh during his speech (morning): The process of withdrawal of U.S. troops and other foreign from Iraq is a sign of clear and explicit on the end of what was brought by the seventh item, a step which demonstrates the weakening of this item a manner that will turn Iraq into a force reconstruction, construction and investment is signs of turning pages of military and replace it with another civilian.

He noted the benefit of that investment oil giant has worked to transform the country into a big workshop will lead later to revive all the economic aspects, particularly the increasing rates of development and high rates of GDP, and expected to rise in output during the years 2014 -2015 to up to $ 300 billion, a figure that will be exploited in the construction and reconstruction, wider than the rest of the areas, according to Saleh, who stressed the need to continue the country in attracting more oil companies and held rounds of other licenses and exploitation of all potential underground Iraqi best.

Continues ...read more ..

The Deputy Governor of the Central Bank that the increase in polarization of giant oil companies will transform the country to the importer of the labor force and diminish unemployment rates after use fully, which will help increase the growth rate more than is reached by major industrialized countries such as China, emphasizing that those rates will jump thanks to the development plan of the country that have been developed for the years 2010-2014 to reach 9.4 percent, rising from the annual rate of 12 percent, a figure which he said was large compared to the rest of the achievements of the major countries that did not exceed the growth rates from 8-9 percent more.

And on the high exchange rate of the dollar against the dinar in the local markets during the past few days ...

Saleh said that these things do not go beyond that to be more than speculation practiced by many currency traders at times, confirming the presence of large capacity with the Central Bank to intervene to contain any of the vibrations that may be exposed to it the Iraqi dinar on the strength of large reserves with the CBE, amounting to more than $60 billion, noting that the financing of some of the trades of Foreign Affairs by Iraqi businessmen as a result of what is happening to some Arab countries and neighboring countries has led to increased demand for the dollar and thus rising prices against the dinar, as well as a conversion factor to fund some of the free trade deals for local projects,

Saleh said in this regard: that the central bank is a major economic power capable of restoring the situation in the domestic market at any time he pleases.

The Central announced the initiation of a project key national who cares about the introduction of modern technologies in the banking system by facilitating the work of the payments and instruments in Iraq, and the benefit that this project is an electronic device inventor called "Qassim national" works to facilitate the withdrawal of money fast and brief for people who have credits in Iraqi banks of any bank they want within this device instead of going to the bank and let it be trusted, for the purpose of facilitating the payments system and the exchange of instruments between banks in Iraq, as well as the introduction of technology mobile to know the bank account and credit transfer by a Mobile collaboration with telecommunications companies in Iraq.

He added that a national Qassim managed by a company that specializes in this work for certain wages and are monitored by the Central Bank of Iraq to determine its performance and the extent of its capabilities and efficiency in the process of providing financial services to the citizen.

Link

http://www.alsabaah.com/ArticleShow.aspx?ID=18557

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jetphyxr Newbie

jetphyxr

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The Central announced the initiation of a project key national who cares about the introduction of modern technologies in the banking system by facilitating the work of the payments and instruments in Iraq, and the benefit that this project is an electronic device inventor called "Qassim national" works to facilitate the withdrawal of money fast and brief

If they truly intiated this that is what we want to see. Smart cards. Go smart cards!

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uncirculd Newbie

uncirculd

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The Central announced the initiation of a project key national who cares about the introduction of modern technologies in the banking system by facilitating the work of the payments and instruments in Iraq, and the benefit that this project is an electronic device inventor called "Qassim national" works to facilitate the withdrawal of money fast and brief

If they truly intiated this that is what we want to see. Smart cards. Go smart cards!

There is a notice for bid on the CBI website for the hardware & software to install (RPSI) National Retail Payment Systems Infrastructure. Click top item pdf.

http://www.cbi.iq/index.php?pid=NewsAnnoucements

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jeepguy Mentor

jeepguy

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There is a notice for bid on the CBI website for the hardware & software to install (RPSI) National Retail Payment Systems Infrastructure. Click top item pdf.

http://www.cbi.iq/index.php?pid=NewsAnnoucements

WOW pretty good find---- they might have a hard time finding a company to do this at the 1180.per dinar fees ----or will they be payed in oil also :blink:

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Captainron601 Newbie

Captainron601

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I think we should all boycott investing anymore into this economy! Whether it's buying dinars, investing in the ISX or depositing funds into various banks and or brokerages. It may or it may not tweak the ISX and CBI numbers a bit, and give them a wake-up call... Get this RV done and quit dragging ass................................................................. :angry:

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Psych Newbie

Psych

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I think we should all boycott investing anymore into this economy! Whether it's buying dinars, investing in the ISX or depositing funds into various banks and or brokerages. It may or it may not tweak the ISX and CBI numbers a bit, and give them a wake-up call... Get this RV done and quit dragging ass................................................................. :angry:

I don't think they'd be even close to feeling it...it's like deciding to boycott Wallmart..."another sucker is born every minute" is part of both Wallmat and Iraq's mission statement...plenty of us IQD suckers out there.

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Stryker365 Newbie

Stryker365

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There is a notice for bid on the CBI website for the hardware & software to install (RPSI) National Retail Payment Systems Infrastructure. Click top item pdf.

http://www.cbi.iq/index.php?pid=NewsAnnoucements

When I saw this and posted it on 12/5 it told me that the RV was going to be close, these are indicators IMO of what happens after a significant change occurs and not before.

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Carrello Rising Star

Carrello

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A golden opportunity was squandered as the UN & kuwait could not agree on the release of Iraq from chapter 7. The next meeting, next quarter in March will be the next chance. Just as events were falling into place in Iraq & the Dinar's favor.

Luigi, I have a question, please: Everything did seem to be moving along nicely, and I am sure that the powers-that-be were counting gold coins in their heads. Do you think that a meeting schedule is going to hold this up? Perhaps you don't believe in the powers-that-be, and that would preclude my question, and March it will be.

Just my thoughts.... B)

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Shelley Experienced

Shelley

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Luigi, I have a question, please: Everything did seem to be moving along nicely, and I am sure that the powers-that-be were counting gold coins in their heads. Do you think that a meeting schedule is going to hold this up? Perhaps you don't believe in the powers-that-be, and that would preclude my question, and March it will be.

Just my thoughts.... B)

Carrello, The video you brought over the other day of the UN meeting, left me questioning whether it was a real meeting or not ??? At the end of the video, the speaker made it sound like it was a breifing with a draft presented in preparations for the real thing..

I asked you this question the other day, I didn't think you read it ??? Please let me know your feelings on this :blink:

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Carrello Rising Star

Carrello

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Carrello, The video you brought over the other day of the UN meeting, left me questioning whether it was a real meeting or not ??? At the end of the video, the speaker made it sound like it was a breifing with a draft presented in preparations for the real thing..

I asked you this question the other day, I didn't think you read it ??? Please let me know your feelings on this :blink:

Shelley, sorry, I did not see your question.

I am a firm believer that no one goes into these "meetings" where the outcome is not previously known. High level decisions that have the world watching are made before the "meeting" takes place. I do think that the meeting took place, I just believe the decision was made ahead of time. There is by far, too much as stake to have a decision like this to be made by a few in a meeting, when Moon had not even been notified yet, and the decision walked out to a press conference. No, nada.

I don't blame them for this type of scenario. I would do exactly the way I think they did it.

And really, does it matter? I not so sure it does. Just my two fils.

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iqdheadlines Newbie

iqdheadlines

Posted
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A golden opportunity was squandered as the UN & kuwait could not agree on the release of Iraq from chapter 7. The next meeting, next quarter in March will be the next chance. Just as events were falling into place in Iraq & the Dinar's favor.

CH VII won't be lifted until Iraq has a fully completed GOI, HCL and membership at WTO, then CH VII will be lifted followed by an RV!B)

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