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forestnr4 says():Iraqi private banks call for the «central» to activate monetary policy
United Bank Investment Building
Version: Paper – International Wednesday, May 17, 2017 (01:00 – GMT)
Last Updated on Wednesday, 17 May 2017 (01:00 GMT) BAGHDAD – Adel Mahdi
Iraqi private banks are calling for «Central» to activate the monetary policy
Called on the chancellor in the «Iraqi private banks association» Samir Nasiri, «the Central Bank of Iraq» to activate its monetary policy to support the private banking system, and re-examine the policies and lending departments of credit risk, with an emphasis on the lesson some observations in the strategic framework adopted in the coming years.
He said in an interview to «life», that the implementation of the Iraqi Central Bank’s strategy for the coming years, requires a lesson set of observations, including monitoring the implementation of future policies of cash until the year 2020 with the contribution of the banking sector in gross domestic product (GDP),
as well as the search for new policies to achieve this goal and allow banks government and private participation in the growth and investment in accordance with the mechanisms and policies that are applicable, and without imposing strict policies and to give adequate elasticities.
He added that it is necessary to seek to address the apparent gap between the fiscal policies of the state and monetary policies adopted by the Central Bank and the requirements of the anti-inflationary pressures, in addition to reducing current spending and coordination in the plans and programs that save the Iraqi economy from financial collapses.
He also pointed Alnasiri, to the importance of activating the monetary policy to support the private banking system, and the revision of policies and lending mechanisms of credit risk management in the granting of credit to small and medium loans,
in addition to investment in production and investment sectors that achieve cash flow, and revive the economic cycle, which contributes to economic development and diversify the financial resources of the general budget.
In the context of the sale of the dollar process for which the «Central» organized, Alnasiri called for accurate follow-up instructions for a window of foreign currency issued this year, and the need to define the role of banks in the mediation between the customer and the «Central», in addition to determining the responsibility of the ministries of trade, finance and planning irregularities committed by some customers, and not only load responsibility for banks.
He stressed the importance of the adoption of boards of directors in the strategy of banks operational risks and implementation, and review debt doubtful according to the list of guidelines, re-elasticities and periods of time for additional banks to liquidate these debts accruing mostly to civilian migration from their provinces for security reasons beyond their control.
And called for the restructuring of the particular government banking sector, with an emphasis on the need to study the allocation of some of its departments, and to activate the operating banks to expand their banking services and diversify,
particularly to increase credit and investment share in a balanced manner with total revenues into these banks an effective pillar of economic growth, provided that the move away from monopoly some banking operations and the withholding of government activities and public institutions for private banks.
He added that there is also the need to develop the Iraqi market for securities money and support, and to find the means and tools that drive towards the lifting of the market and companies index prices, in line with its assets and standards of production and profits,
and to prevent speculation that harm the Iraqi assets disproportionate real value, calling for the establishment of a fund or a private portfolio certificates of deposit issued by banks wishing to address the deterioration of stock prices.
The request to add a new bank management current investment investment climate in the market to promote and increase the size of the deposits of banks leads to increased investment activities in all economic sectors and thus achieve a positive return for investors.
He said Alnasiri The monetary policy of leading efforts to achieve economic stability and stabilizing the exchange rate rates that the national economy will also increase the strength and effectiveness to meet the economic challenges of economic policy, and believes that the achievement of reserves of foreign exchange,
which currently stands at about $ 49 billion, stabilize the Iraqi dinar exchange rate against the dollar is one of the things necessary, pointing out that the foreign currency held by the «Central» window had a positive role in maintaining an appropriate level of the exchange rate and install it.
He pointed out that «Central» Iraq has taken many steps to expand the list of available instruments of monetary policy and to cover the reserve required to include government deposits, and the granting of facilities on deposits maturing in a short period in order to allow banks to manage their liquidity more effectively.
He added that the relative stability of the rates of the exchange rate of tight monetary policy and the stability of the financial system, as well as reducing inflationary phenomenon and to control the levels of liquidity and management, and to encourage banks to move towards the market, of the most important tools that have been achieved in monetary policy from 2004 to 2006. LINK
reynoldse2 says():Ummmm
reynoldse2 says():Magnetlady
reynoldse2 says():Am I crazy or is that article super hot?
jeffjane says to reynoldse2():LOL. Maybe both
BGG says to reynoldse2():Not maybe – probably 😀
BGG says to reynoldse2():Great piece – BTW
reynoldse2 says():Woo!
reynoldse2 says():BGG, I’m stoked. We’ve got to be on the verge of this
reynoldse2 says():I just can’t come up with a reason as to why not
BGG says to reynoldse2():M
BGG says to reynoldse2():O
BGG says to reynoldse2():S
BGG says to reynoldse2():U
BGG says to reynoldse2():L
BGG says to reynoldse2():??
reynoldse2 says():lol
reynoldse2 says():Mosul!
reynoldse2 says():Give me an M!
reynoldse2 says():lololol
magnetlady says():HEy BGG,, that sounds good to me.
BGG says to magnetlady():(y) me too.
forestnr4 says():Brisk business for Mosul’s first post-IS liquor store
Published on 15 May 2017
Abu Haidar tries to keep a low profile and there is no sign on his shop, the first liquor store to reopen in Mosul since the jihadists were beaten back. But it’s hard not to notice the steady stream of customers walking out with black plastic bags filled with Turkish beer, Iraqi arak liquor and cheap whisky.
forestnr4 says():FYI…..go to the 1 minute mark on the youtube video……very interesting!!!
https://www.youtube.com/watch?v=ssDAjkeiFCk&feature=youtu.be
reynoldse2 says():it costs them $5, down from $50? wow
reynoldse2 says():I wonder how many dinars that will equate to
reynoldse2 says():Hopefully 1.5 dinar lol
Beeson says():what do we make of that …wow———> it costs them $5, down from $50? wow
reynoldse2 says():seriously
reynoldse2 says():$5, from $50 …. thousands of people in the store….. they have money, and they want to get drunk! I don’t blame them Beeson. Years of opression and sobriety
Beeson says():they would need change for a 50.00…but oh wait they dont have those anymore :uhm
Beeson says():they dont have 5.00 bills either
reynoldse2 says():no, but we just don’t know what $5 equates to for them. He said dollars, not dinar. So, it could be 1.5 dinar… 5 dinar….. or hopefully not 5k dinar
Beeson says():lowest is 250.00 right ?
reynoldse2 says():that we know of, in terms of dinar
Beeson says():oh…ok
reynoldse2 says():but still
reynoldse2 says():if $5 is attainable, and the liquor store is JUMPING.. that makes ya think
reynoldse2 says():if people are so bad off, they wouldn’t have the extra funds to buy booz
tman23 says():Ya do know that a bag of sugar in Mosul was $850……. But that was the cost of doing business with ISIS in town……….. And IQD was not being supplied by the CBI ……Most trade in Mosul was in USD…. ISIS paid in USD…..
reynoldse2 says():$850 USD Tman? You’re sure of that?
reynoldse2 says():that’s crazy
reynoldse2 says():poor Iraqis
reynoldse2 says():tryin to keep a man down!
reynoldse2 says():I guess they just had to go hungry most of the time
tman23 says to reynoldse2():Positive of that…….. and price gouging is what is going on now………
tman23 says to reynoldse2():And these people rather have USD or Turkish Lira……..They have zero faith in Baghdad or the currency……but remember, they have been out of the loop per se’ for goingmon 3 years
reynoldse2 says():Right. I imagine the average citizen there has no idea what’s going on. Both on a macro, and micro scale
reynoldse2 says():I’m hopeful Tman… really hopeful
tman23 says():Everyone is hopeful…….. We can only wait and see what announcement comes out on Friday the 26th……. and what shows 3/29
tman23 says):5/29
tman23 says():WASHINGTON (Sputnik) — President Donald Trump continued the national emergency with respect to the stabilization of Iraq, the White House said on Tuesday.
In a letter to Congress, Trump said obstacles remain with respect to the orderly reconstruction of Iraq, restoring peace and security and developing the country’s institutions.
tman23 says():Obstacles… continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States,” Trump stated. “Accordingly, I have determined that it is necessary to continue the national emergency with respect to the stabilization of Iraq.”
reynoldse2 says():I don’t understand. A national emergency?
reynoldse2 says():How can he declare that on their behalf?
tman23 says():US law requires the president to renew national emergencies within 90 days prior to the anniversary of their declaration.
Former President George W. Bush first declared the national emergency with respect to the stabilization of Iraq on May 22, 2003.
Officials have said Washington and Baghdad remain in talks about a continued US troop presence in Iraq after Daesh terror group is defeated.
In March, US Central Command chief Gen. Joseph Votel said the two nations were working on a five-year plan for cooperation.
tman23 says():So 14 years of declaring and continuing the declaration of Iraq national emergency
tman23 says():WASHINGTON (Sputnik) — US President Donald Trump notified Congress on Monday that he intends to uphold a state of national emergency for Yemen that was issued by his predecessor in 2012……..So Iraq is not so special in regards to declaring national emergemcy
tman23 says():US President Donald Trump surprised and angered extremists with his policies and swift action in the Middle East. Since his first day in the White House, he appointed government officials who agree with his announcement to target extremists, including governments such as Iran’s. Trump immediately started implementing his policies on Iraq, Syria and Yemen; it was not just election propaganda.
Some thought he would be a hostage to the nuclear deal with Iran, or that he would show enmity to all Islamic countries without distinction.
But the Trump administration has respected the deal while refusing to stay silent, as his predecessor Barack Obama was, against dangerous Iranian violations. They include military intervention in Iraq and Syria, being a naval bully, and smuggling arms by sea to rebels in Yemen and Bahrain.
The Trump administration considers these actions unacceptable, so Tehran cannot use the nuclear deal as leverage to impose its interests and agendas at the expense of others.
Since his first day in the White House, the US pres
tman23 says():Negotiations between Iraqi Prime Minister Haider al-Abadi and U.S. officials in Baghdad on a new status of forces agreement began in earnest this month, senior U.S. officials said. The deal would outline the legal and diplomatic parameters underpinning a long-term U.S. military presence in the country, and avoid the power vacuum that critics say developed after American forces pulled out in December 2011.
The issue is sensitive in Iraq, and Mr. al-Abadi this month insisted that there would be no “combat troops” in Iraq once the Islamic State is defeated, even though both sides said talks on the long-term role of the U.S. military in the country continue. An official who traveled to Baghdad with Defense Secretary James Mattis recently said “nothing has been finalized.”
There are an estimated 7,000 overall U.S. military personnel in Iraq, including several hundred Special Forces fighters advising the Iraqi army in the siege of Mosul. At the height of President George W. Bush’s “surge” against insurgents before the rise of the Islamic State, there were some 170,000 American troops in Iraq.
A new status of forces agreement got an endorsement from a key Iraqi Kurdish leader Tuesday. Masrour Barzani, chancellor of the Kurdistan Regional Security Council and the son of Kurdish Regional Government head Masoud Barzani, said on a Washington visit that he and his father would back a deal allowing U.S. forces to remain in Iraqi Kurdistan after the fall of Mosul.
magnetlady says():Thank you for bringing in the news tman23
http://www.dinarupdates.com/showthread.php?49143-Tuesday-May-16-2017/page2
