Chat Room Excerpts & Highlights
larrykn says to rcookie():what do you think about parliment gets all this done this week
rcookie says():IF SADR HAS HIS WAY…
larrykn says to rcookie():I was kind of thinking Adabi won’t let it go to long
rcookie says to larrykn():ABADI HAS HIS 3RD LIST READY…IF NEEDED…
larrykn says():I guess it depends how much he wants to put up with Maliki bs
rcookie says to VelmaF41():INT’L AUDITOR ERNST & YOUNG FINDING HUGE WASTE IN PROVINCIAL CONTRACTS..WITH MOST CONTRACTS AND PROJECTS NOT EVEN REACHING 10% EXECUTION….
dinarmassa says to rcookie():I assume the findings of Earnst and Young are public, who appointed Ernest and Young to audit, once they submitted their findings, are they done and at that point who continues to monitor expenditures
rcookie says():ERNST & YOUNG IS A 3RD PARTY MONITORING AGENCY…APPOINTED BY IMF AND WB ON MANY FRONTS INCLUDING THE CBI STATISTICAL DATA PUBLISHED ON CBI WEBSITE AND PART OF STRATEGIC PLAN…
AND ALSO THE IMF STAFF MONITORED PROGRAM INITIATIVES FOR BANKING SUPERVISION…PUBLIC FINANCIAL MANAGEMENT…MONITORING FINANCIAL RISKS…
AND PLAY A KEY ROLE IN IMPLEMENTING REFORM SYSTEMS TO STRENGTHEN THE STABILITY OF THE BANKING SYATEM…THEY ARE A KEY COMPONENT OF THE AUDIT AND ASSISTANCE OF THE RESTRUCTURE AND PRIVATISATION TRANSITION OF THE 2 BIG STATE OWNED BANKS……
KAT1 says to clay():I read this morning news and boy this is looking fantastic!!!
KAT1 says():Gotta go and gooooo rrrrvvvv!!!!!!!!!!!!!!!!(})
rcookie says():SADR NOT HAPPY WITH GALLOWS IN TAHRIR SQUARE….
rcookie says():US SENDING 250 ADDITIONAL SPECIAL FORCES TO SYRIA….
larrykn says to rcookie():saw that on the news last night wow
clay says to subgirl():does anyone have the link to when the IMF stated first 1/2 of 2016
clay says to subgirl():lost it
tman23 says():will be presented by former House speaker Salim Al-jubouri…………the House of the protesters expressed their consent to be held, provided that he is not going back,” referring not to return to the previous Parliament. …… SOUNDS LIKE JABOURI “IS BEING ALLOWED TO PRESENT THE INITIATIVE……..
BUT THEY ARE COMPROMISING BY ALLOWING HIM TO DO SO AND PROVIDING THE HOUSE DOES NOT GO BACK……….. NOW TAKE BETS TO SEE IF THEY CAN MAKE IT THROUGH TOMORROW WITH JABOURI BEING THE LEGAL PRESIDENT……. I GIVE IT 77-1 THEY CANT DO IT……….MALIKI JUST CAN’T ALLOW THAT TO HAPPEN…….
flint says to clay():Clay here is that link – The director of the Middle East Department and Central Asia for the International Monetary Fund Masood Ahmed in a press statement he stressed that Iraq will return to economic market during the first half of next year.
LINK
jeffjane says():I think they should deal with Maliki today so they do not have him around tomorrow
larrykn says to clay():https://www.imf.org/external/np/loi/2015/irq/122215.pdf
tman23 says():Revealed the citizen’s parliamentary bloc, said on Monday that there is a desire by the political blocs that the parliament session be, on Tuesday, headed by MP for coalition forces Saadoun al-Dulaimi, as pointed out that the President of the House of Representatives article Salim al-Jubouri, will present during the meeting, “an initiative to resolve the crisis.” .
tman23 says():Bascially…… appears that Parliament has been hi-jacked and they are allowing Jabouri to present the initiative but will be chaired by Dulaimi…….
I WOULD SLOW WALK MALIKI IN FRONT OF PARLIAMENT AND THEN HAVE HIM SHOT IN THE HEAD IN FRONT OF HIS OBSTRUCTIONIST………THEN ANNOUNCE WE ARE GOING TO HOLD A VOTE…………
MAYBE NOT THE DEMOCRACY THE WEST IS LOOKING FOR……..BUT IT IS A FORMULA THESE PEOPLE UNDERSTAND……..
da58 says to tman23():at least ya didn’t say 78-1… that would be hopeless.. (lol)
tman23 says():That is 3 NATO bases in Kurdistan………Again……. The Kurds are going to come out of this just fine…….. It is the Shia and Shia loyal to Iran that becomes the GOI split……
This Dulami chairing Parliament tomorrow makes no sense to even give the impression of any credibility…….HARD TO BELIEVE……because next they would attempt immediate vote of no confidence on Abadi and Massoum……..
This may be why had designated Najaf as a second headquarters for the GOI……..and there are articles of fixing the road to Najaf while others say fencing the road off..(controlling it)………. TOMORROW IS A HUGE DAY REGARDING THE DIRECTION OF THIS MALIKI/JAAFARI CREATED CHAOS….
puffdragon says():Does any of the researchers have any insight on this jaboure in and out of ligitemetcy cr$p. ({) puffdragon says():speaker of the house .
cookie says():THE IMF HAS RELEASED THE APRIL 2016 REGIONAL ECONOMIC OUTLOOK FOR MENAP…..RELEASED TODAY…HERE IS THE LINK….
http://www.imf.org/external/pubs/ft/reo/2016/mcd/eng/pdf/menap0416.pdf
thenextbigidea says():Firefly: To / all banks and all money transfer companies to broker the sale and purchase of foreign currency all ( uncles ) 24/04/2016 Does this mean any foreign currency?
thenextbigidea says():Firefly: So this means they are Article 8 complient because they can buy and sell other currencies?
_firefly_ says to thenextbigidea():IMO, they are not yet Article VIII compliant
_firefly_ says to thenextbigidea():YET
_firefly_ says to thenextbigidea():But oh so close 🙂
wmawhite says to thenextbigidea():they buy and sell foreign currency today…………..
Pablo says to _firefly_():MD said that she had Article 8 in Ink.
R&R says():Darn… I missed wmawhite to ask a question (@)
_firefly_ says():I’m not sure what MD was refering to but their are certain criteria that a country has to meet to move to Article VIII
R&R says():I was thinking that the banks do buy and sell currency as dealers, meaning they buy the currency outright, and sell it outright, and vice versa…. and maybe when the say “broker”, they are specifying that the can now act as intermediaries and can now facilitate the “trading” of currency between customers while charging a fee for the service. In this case they would not own the currencies directly, just facilitate trade?
Pablo says to _firefly_():She pulled it off the IMF web site.
R&R says():I am simply tryin to discern betwen banks acting as “dealers” versus “brokers” here….
_firefly_ says():Finance Minister meets US Secretary of the Treasury
Finance Minister continues his meetings and meetings in Washington
Finance Minister heads the Iraqi delegation to a joint meeting with the International Monetary Fund and World Bank experts
Finance Minister meets with the Executive Director of the World Bank Group
Finance Minister Meets Economic Department at the State Director
thenextbigidea says():Firefly: I am noticing all those meetings. Since The Finance Minister meet with all those people. Since he met with World Bank, they should be done with this process? Right?
rcookie says to Pablo():PULLED WHAT…
NWBeauty says():Ramadan is 06 June so if they don’t seat a new Parliament or revalue currency, we will not see it
Hutch says to NWBeauty():As in years past, they work right thru ramadan.
NWBeauty says():been there during Ramadan, they sleep on post all day
NWBeauty says():did anyone else read Backdoc’s post about IMF website listing a ratefor 3 hours?
sassy says():Hutch They never acomplish anything through RAMADAN as I remember the past 8 yrs
NWBeauty says():i’m ready to start digging some wells and need my RV check to fund it
Hutch says to sassy():Go back and read news articles from ramadan last year and they were getting things done with the govt and the cbi. The news must be wrong….
rcookie says to puffdragon():JUST LIKE YOU ALL HERE IN DU HAVE BEEN GETTING NEWS OF 2016 IMF LOI SI NCE DEC…AND THE PAST YEARS LOIS BEFORE THAT….AND 99% OF SO CALLED GURUS HAVENT A CLUE WHAT IT CONTAINS OR PERTAINS TO RELEVANT TO WHAT IS GOING ON SINCE 2011…
sassy says():Hutch are you saying they passed any laws?
NWBeauty says():well the end of June is another quarter for the IMF to evaluate how Iraq is performing against the LOI / MOU
rcookie says to NWBeauty():CORRECT…BUT REMEMBER THEY ARE WELL AHEAD OF THEIR SMP INITIATIVES AND INTO THEIR SBA….
NWBeauty says():anytime before I’m fully gray and stuck in my rocking chair
Hutch says to sassy():7/1/15 is ramadan time
rcookie says to puffdragon():(y)DOESNT EXIST…
NWBeauty says():6 June to 5 July this year
sassy says():Hutch thanks so there is hope lol
Hutch says to rcookie():I am shocked that the IMF had to rate on their site !! (lol)(lol)(lol)
rcookie says: IRAQS LAST SBA ENDED IN FEB 2013….
rcookie says():Safeguards AssessmentsThe most recent safeguards assessment of the Central Bank of Iraq (CBI) was completed in 2010 under the SBA that expired in February 2013.
While the assessment concluded that significant safeguards risks remain, it noted that the CBI maintains important safeguards recommended by previous assessments, including annual external audits by reputable audit firms and publication of the CBI’s audited financial statements.
rcookie says():HMMM…YOU MEAN REPUTABLE AUDIT FIRMS LIKE ERNST & YOUNG FOR EXAMPLE………LOOK FAMILIAR…
rcookie says to Hutch():IRAQS OTHER SBA’S ENDED IN DEC 2007…AND MARCH 2009…
rcookie says():HERE ARE THE EXCHANGE ARRANGEMENTS FROM 2013…INCLUDING AN OUTLINE OF EXCHANGE RESTRICTIONS AND MCP’S……
rcookie says():Exchange ArrangementThe CBI has been conducting foreign exchange auction on a daily basis since October 4, 2003. The CBI followed a policy of exchange rate stability which has translated in a de facto peg of the exchange rate since early 2004. However, from November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate.
As a result, the exchange rate arrangement of Iraq was reclassified to the category of crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of Iraq was reclassified effective January 1, 2009 as a stabilized arrangement.
rcookie says():Iraq continues to avail itself of the transitional arrangements under Article XIV. Eight exchange restrictions (plus one exchange restriction maintained for national or international security) and one multiple currency practice (MCP) are subject to IMF jurisdiction and approval.
The exchange restrictions are
(i) the limitation that corporates can purchase foreign exchange in the auction for import transactions only;
(ii) limitation on the availability of foreign exchange cash for individuals (i.e., one request per month);
(iii) maximum limits on the availability of foreign exchange cash in the auction for banks;
(iv) maximum limits on the availability of foreign exchange cash in the auction for
rcookie says():money transfer companies and money exchange bureaus;
(v) the requirement to pay all obligations and debts to the government before proceeds of investments of investors, and salaries and other compensation of non-Iraqi employees may be transferred out of Iraq;
(vi) the requirement to submit a tax certificate and a letter of non-objection stating that the companies do not owe any taxes to the government before non-Iraqi companies may transfer proceeds of current international transactions out of the country;
(vii) the requirement that before non-Iraqis may transfer proceeds in excess of ID 15 million out of Iraq, the banks are required to give due consideration of legal obligations of these persons with respect to official entities, which must be settled before allowing any transfer; and(viii) an Iraqi balance owed to Jordan under an inoperative bilateral payments agreement.
In addition, one exchange restriction maintained for security reasons should be notified to the IMF under the framework of Decision 144-(52/51). The MCP arises from the absence of a mechanism to ensure that the official exchange rate and the market exchange rate do not deviate by more than 2 percent.
OTTA PAY DEBTS BEFORE THEY CAN PAY THEMSELVES….YEAH…THATS HAPPENED BEFORE…..LOL
Cricket22 says to rcookie():How close do you think we are with this?
rcookie says():IN THE COMING DAYS….
rcookie says():SORRY…COUDNT HELP IT…
Cricket22 says to rcookie():Sounds good enough for me. I hope it happens this month.
rcookie says():HAVE POSTED THEIR ARTICLE VIII STATUS…AND WTO ACCESSION.. SO MANY TIMES….
rcookie says():AND HERE IS WHAT IRAQ PLEDGED TO DO IN 2013…
- The CBI is committed to progressively liberalize the foreign exchange market as capacity to prevent AML/CFT is developed. It has recently taken steps to simplify foreign exchange market regulations and this has led to the elimination of many exchange restrictions.
The CBI is working closely with staff on complying with Article VIII of the Fund’s Articles of Agreement, as well as eliminating the remaining exchange restrictions and the multiple currency practice.
puffdragon says to rcookie():Rcookie your going to be so relieved when this is over, the hours you must spend on the computer, for everyones benefit, hope you have some very special things planned for yourself and family.:)
da58 says to puffdragon():and has everything at his fingertips in 2 seconds.. any subject, any year.. this guy’s a strong candidate for post rv rehab.. (lol)
rcookie says to puffdragon():GONNA BUY HAWAII…THE BIG ISLAND….LOL
puffdragon says to da58():I realize all that because I cant be in front of a computer for very long ( go bonkers ) ({)
da58 says():yup!
rcookie says():AND HERE …TO TIE IN….THIS IS THE 2016 IMF LOI…CONCERNING THE SAME…LOOK HOW FAR THEY CAME…
puffdragon says to rcookie():GOOD FOR YOU COOKIE, You know hawaii is quite liberial !! O came from there (maybe) 😀
rcookie says():SO THEY ARE LOOKING FOR IMPLEMENTING REMOVAL OF LIMITATIONS ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVE RISE TO EXCHANGE RESTRICTIONS….PART OF THEIR TECHNICAL ASSISTANCE RECOMMENDATION….
rcookie says():THAT HAVE OUTLINED WHAT IRAQ MUST DO TO CREATE A FAVORABLE BUSINESS CLIMATE BY MAKING INTERNATIONAL TRANSACTIONS RESTRICTION FREE….”NON MANIPULATED” OR INFLUENCED….
puffdragon says to rcookie():Give rise to exchange restrictions, I thought the opposite was the direction to go ! Im obviously missing something cookie ? Help
rcookie says():THAT IS PERTAINING TO SECTION 3 OF ARTICLE VIII OBLIGATIONS…..
Section 3. Avoidance of discriminatory currency practices No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund.
If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.
rcookie says():THEY CAN NOT LIMIT OR RESTRICT INTERNATIONAL INVESTMENT TRANSACTIONS…THIS FREE MARKET CREATES A FAVORABLE OPEN MARKET BUSINESS CLIMATE…..
rcookie says():FREE OF RESTRICTIONS AND MANIPULATION…
rcookie says to puffdragon():IN NO. 20 ABOVE …STATES REMOVAL OF LIMITATIONS ON TRANSFER OF INVESTMENT PROCEEDS THAT GIVES RISE TO AN EXCHANGE RESTRICTION……
rcookie says to puffdragon():PUFF….DOES THAT HELP…
puffdragon says to rcookie():Yes thank you cookie !(v)
rcookie says to sassy():THEY DECLARED TOMORROW A HOLIDAY IN BAGHDAD………
larrykn says to rcookie()I thought parliment was to meet tomorrow
rcookie says to sassy():EXCEPT FOR HEALTH AND SECURITY PERSONNEL
rcookie says to larrykn():THEY ARE…
larrykn says to rcookie():so they don’t go by holidays ,good
Hutch says to rcookie():just like ramadan
Rcookie says to larrykn():HERES THE LINK FOR THE DECLARATION OF A HOLIDAY IN BAGHDAD TOMORROW….
http://translate.google.com/translate?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/
sassy says():rcookie and they are still meeting. Awesome
rcookie says():Abadi and virtue stresses the need to resolve the files and an end to the differences within the House of Representatives
Mon, 25 Apr 2016 19:37:23 BAGHDAD – observer news
He stressed Prime Minister Haider al-Abadi, with a delegation from the Islamic Virtue Party, on the need to resolve the files and an end to the differences in the House of Representatives.
According to a statement of the party observer it received a copy of it, that “a delegation of the Virtue Party, headed by the Secretary General of the Party Hashem al-Hashemi, met on Monday, Prime Minister Haider al-Abadi, where the parties discussed the political and security crisis to go through the country.”
The statement added, “The two sides stressed the need to resolve the files and an end to the differences in the House of Representatives and the trend to hold a comprehensive and uniform hearing to all parties to the political process and access solutions moderation that ends the state of total paralysis that afflicts the legislative and executive branches that are not commensurate with the size of the security and economic challenges clouding on the Iraqi scene He also regional.”
He explained that “the two sides addressed what happens from military confrontations in Salahuddin province, and the need to limit the dispute and to punish the perpetrators and the unification of efforts to confront the common enemy of the criminal gangs Daash.”
The House Speaker Salim al-Jubouri confirmed today held a comprehensive tomorrow parliamentary session Tuesday in which he called all deputies to the audience where it is scheduled to testify to host Prime Minister Haider al-Abadi to discuss a cabinet reshuffle amid reports protesters Province of Representatives session.
http://translate.google.com/translate?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/
rcookie says():Adel Abdul-Mahdi al-Abadi told me not to accept my resignation and my decision to irreversible
Mon, 25 Apr 2016 19:44:57 BAGHDAD – observer news
Detection and Oil Minister outgoing Adel Abdul-Mahdi, Prime Minister Haider al-Abadi contact with him and tell him not to accept his resignation, noting that “my resignation is irreversible and stress the importance of choosing the alternative consultation with everyone involved.
Said Abdul-Mahdi, “spoke to me kindly, Prime Minister Haider al-Abadi on Wednesday evening, a Sunday .. I said that I do not accept your resignation .. expressed his thanks, and wished him success,
stressing that my resignation is irreversible, and I emphasize the importance of choosing the alternative consultation with everyone who is involved, and I hope I entrust one of the brothers is a minister or receipt of the ministry and agency.
Valastqalh for me culture and approach Sirte it, I will keep walking him, whether in government positions of responsibility or regulatory, which is not an escape or bowing to pressure, but on the contrary he was serious, and to address the most pressure, and out of the sites it deems Off and encircled to sites deemed effective, open, and Alandakkak in the service and repair project, and devotion to the tasks that you bear responsibility, and access to healthier tracks. ”
He said, he “received a lot of letters, and raised in a lot of meetings, and opens me some leaders and officials -alven for them and Ahtrmanm- debate revolves around the resort to resign ..
They say that the weakness at thwarting the political abandonment of its location and resort to resign under the pressure of circumstances .. duty who stands up and withstand the pressure and refused to prove he’s right, and to the end.
He noted that “resignation is one of the basic curriculum to evaluate political action tools.
It is a dialogue and discussion is serious, when the exhausted argument and proof all spaces and means to convince the other au Aharik- the view put forward.
When the debate is going on once, twice, and dozens of times and exhausted, and up to a dead end, hurt him more than his interest may be, it has become Araka, hidden or declared, and the disruption in the sites should not be disrupted.
Here we have to leave it to those who possess the neck of the decision the fact, so that the application of his plans and vision, he gives objector, his own free will, having failed to stop the wrong tracks, or taking his point of view, to leave the reality and heuristic determine what is right or wrong.
The site is just a way to achieve the goals .. It is not a sheep, it is a burden when success and failure when .. When success will increase the burdens and responsibilities .. Upon failure will increase and accounting difficulties.
http://translate.google.com/translate?depth=1&hl=en&prev=search&rurl=translate.google.com&sl=ar&u=http://www.faceiraq.com/
rcookie says():WOW….BRADY’S INFLATEGATE SUSPENSION REINSTATED!!!….
clay says to rcookie():saw that wow
rcookie says():THIS WAS BLOOMBERGS TOP STORY THIS MORNING….VERY GOOD READ..
rcookie says():The $2 Trillion Project to Get Saudi Arabia’s Economy Off Oil
Eight unprecedented hours with “Mr. Everything,” Prince Mohammed bin Salman.
April 21, 2016 Peter Waldman
http://www.bloomberg.com/news/features/2016-04-21/the-2-trillion-project-to-get-saudi-arabia-s-economy-off-oil
pizzaman says to rcookie():Hi RCookie….was catching up on today’s earlier chat with the news and comments you’ve been bringing today…very good today and especially over the the last hour. Thanks for all you do at DU !!! Will be interesting to read what happens in Parliament tomorrow
rcookie says():ANYONE READ THE BLOOMBERG ARTICLE I POSTED TODAY ABOUT SAUDI ARABIAS EFFORTS TO GET OFF OF OIL…INTERVIEW WITH PRINCE MOHAMMAD BIN SALMAN…..REALLY GOOD STUFF…
Hutch says to rcookie():I did, good article !
Hutch says to rcookie():reminded me of another ME country
risk says():Not surprising as their reserves are on the decline……Better make tourisum attractive…lol
wmawhite says():sleeper article of today???????????? The Chinese jumping into the fight against ISIL……
rcookie says to wmawhite():20,000 SUNNI TROOPS REINFORCING BORDERS WITH KUWAIT AND JORDAN….
rcookie says to wmawhite():CHINA JUMPING INTO THE POOL…
rcookie says to wmawhite():PESHMERGA READY TO PLAY WITH ALL THEIR NEW TOYS…..
wmawhite says to risk():Yep…………….hello honey,…..let is visit Saudia Arabia to Lawrence of Arabia…….
wmawhite says to rcookie(3):The Kurds ready to attend parliament on tuesday…
rcookie says to wmawhite():YES AND ABADI READY WITH 3 LISTS…..BRING IT ON….
Hutch says():I’ve seen that some are calling it “Super Tuesday” over there!
clay says to Hutch():lol
Hutch says to clay():Its been called that in a couple of articles
clay says to Hutch():no kidding
clay says to Hutch():missed it
rcookie says to wmawhite():ISLAMIST KIDNAPPERS KILL CANADIAN HOSTAGE IN PHILIPPINES…..
rcookie says():IMF supports the Special Drawing Rights for its members
4/26/2016 0:00 BAGHDAD – Imad emirate academic d .abd Karim Jaber said that the IMF is an important institution at the global level concerned with the affairs of macroeconomic policies (monetary and fiscal) in terms of design, coordination and implementation is also concerned with the affairs of finance.
He said Jaber said the fund is based on the idea that that economic growth depends on the economic stability and the establishment of an institutional framework for the market economy and openness to the global economy and the restructuring of the economy in line with market requirements, and undertake internalized in this fund state to take remedial measures and corrective to its economy.
He added that the main task of the Fund is to provide a helping short-, medium- and facilities term of the member states to cope with balance of payments deficits, and that the main financing instruments followed by the international monetary Fund is (SDR),
which came the birth of these rights are sometimes known as the (gold leaf) in the midst of the monetary crisis that hit the monetary system , which was established under the Convention (Bretton Woods) during the period between 1965.1971, which are monetary units arithmetic or book entries recorded in the arithmetic record of foreign transactions.
and that is obtained from the member States ,
without charge, as they do not cover any existing last, what to accept the state as a member of the Fund as determined by its quota equal to its contribution to the Fund ‘s capital and usually expresses these share units of special drawing, and at the birth of the SDR was equivalent to the original value of the dollar in gold which is equal to 888,671.0 grams of gold or the equivalent of dollars.
rcookie says():Jaber to draw it as a result of the volatility of the struck exchange rates associated with special basket of currencies SDR to maintain the value and distinguish them from the rest of the currency has been linked to a basket of currencies ,
I’m not eleven countries on the basis of the extent of the contribution of each of these countries in world exports of 1968.1972 and that must be the contribution of each state is greater than 1 percent. He concluded d. Abdul Karim Jaber, that the establishment of SDR is an important step to reform the monetary system ,
which has suffered years of decline in the absolute size of the international reserves (deterioration ratio of reserves to imports of most countries of the world), as a result of the suffering of the monetary system of trust components of liquidity at the time ( of gold, the dollar), Add to the problems of the deficit in the balance of payments of countries co – partners of the United States of America.
http://www.alsabaah.iq/ArticleShow.aspx?ID=115280
rcookie says():Activating the role of Iraqi private banks to contribute to development
4/26/2016 0:00 Adnan Kanani Iraqi banking sector is facing many challenges , which requires far and fast and my grandfather, more than ever, the need for reform and development of the banking sector and the unification of the ranks, and the establishment of the Iraqi Association of Banks, and focus on the development of the financing mechanisms of the banks in order to escalate and the development of banking products and services to increase financial inclusion
and cover a larger percentage of the population, and increase the number of beneficiaries of bank loans, especially the medium and small enterprises and micro and need hard work and effort in order to get concrete results ».
the banking sector is facing many challenges because of its close association with the Iraqi economy , which is facing at the present time many and complex challenges, and perhaps the most prominent of those facing the banking business to keep up with the activities and services of Arab and international banks to the needs of development in various forms process,
and the fact that the nature of the economy requires a reliance on small and medium enterprises in economic development programs therefore have to focus on this aspect in the forthcoming her role any banks.
as the goal of financial inclusion must be directed to these groups primarily, as well as individuals from low – income families in order to achieve financial inclusion in order to promote sustainable development programs and activating the role of government and the private banking sector in the process of activating the role of the economy,
so it is necessary to work to identify essential points that allow for the exchange companies and post offices open savings accounts due to the limited surplus available for the segment of customers from low – income owners of private income that minimum balance fees and maintenance of bank accounts imposed by commercial banks to cover the huge investments in infrastructure development ,
which requirements, preventing enables these customers from opening savings accounts, through the lifting of these restrictions of art.
rcookie says():I see that Iraqi banks are still to Atrqy to the ranks of Arab banks and the World and lacks the provision of sound banking services, and actually are «shops» to sell the currency, so we urgently need a real banker aware, there at least $ 30 billion traded in the Iraqi market is deposited in a bank,
and chunky in the role (houses) », and here the role of the Central Bank of Iraq , comes the need to speed up the development of an emergency plan to attract these funds for investment.
banks and be more serious in provide prestigious clients banking services in order to attract these saved money because it inevitably will contribute to move the Iraqi economy and fix bugs in the basic supporting infrastructure.
«in order to make a leap of quantity and quality in the banking activity in Iraq has to be government interference quickly to issue immediate guidance in the « activate Iraqi Doralmassarv,
because the development of determinants and obstacles to the work of the banking sector will inevitably delay the work of banks, that the aim of moving the wheel of the economy and diversify sources and reduce unemployment and to hold corrupt and negligent.
the political and economic destruction requirements change and put in front of him many new challenges as well as the emergence of many activities , especially, Iraq today is going through in a matter of Mali is difficult due to lower oil prices, at a time when its economy was characterized as a mono over several decades,
it ‘s time to revitalize the economy, agriculture, tourism and other sectors, and to accelerate pursuing a new philosophy of state based on free economy and privatization, it is supposed to support the actions of this transformation through the emergence of a banking sector strong actor,
and here comes the role of the banking sector to play a positive role by conducting an objective review problematic in some private banks , which harmed the interests of some of its customers and weakened the confidence to deal with it over the past years.
as well as the need to speed up the implementation of lending for industrial and agricultural projects, housing initiative with $ 5 trillion dinars, as well as a trillion and a half trillion dinars for small businesses , which was launched a few months ago through the confirmation of the Iraqi government to take serious steps to ensure the success of these initiatives.
rcookie says():required a comprehensive plan of reform and development of this vital sector and not Mejrdavkar insights and recommendations written in terms, we want a serious reaction and take the correct and proper implementation measures in order to upgrade the field work of private banks through attention to human resources Iatmdalleha
success or failure in the work of the Iraqi banking sector and seriousness in providing sound and modern banking services offered by the banks of neighboring countries , especially Jordan and Lebanon and the Arab Gulf states, Turkey and other countries of the world to an audience of beneficiaries.
http://www.alsabaah.iq/ArticleShow.aspx?ID=115281
JAMVOX says(4):so nothing happens until they get their banking in order
rcookie says to JAMVOX():WHAT?………… rcookie says():DID YOU NOT SEE THAT ARTICLE……
rcookie says():MORE CALLS FOR BANKING SECTOR REFORMS AND DEVELOPMENT…AND ESTABLISHING AN IRAQI ASSOCIATION OF BANKS….
DEVLOPMENT OF FINANCING MECHANISMS IN BANKS TO DRIVE BANKING PRODUCTS & SERVICES TO INCLUDE LARGER PERCENTAGE OF THE POPULATION AS BANK CUSTOMERS WHO BORROW MONEY AT SMALL AND MEDIUM ENTERPRISE LEVEL…
rcookie says():MANY COMPLEX CHALLENGES FACING THE IRAQI ECONOMY…INCLUDING THE BANKING SECTOR KEEPING UP AND STAYING COMPETITIVE IN THE ARAB & INTERNATIONAL BANKING ARENA…AND THE NEED TO STAY RELEVANT AND COMPETITIVE IN THE SMALL & MEDIUM ENTERPRISE LEVELS…
Dr.Tom says to rcookie():They’ll get it done.
rcookie says():FINANCIAL INCLUSION TO LOW INCOME FAMILIES….IN SUSTAINABLE DEVELOPMENT PROGRAMS…TO DRIVE PRIVATE SECTOR DEVELOPMENT….
ALLOW THE EXCHANGE COMPANIES AND POST OFFICES TO OPEN SAVINGS ACCOUNTS FOR LOW INCOME CUSTOMERS THAT SHY FROM MINIMUM BALANCE ACCOUNTS AND MAINTENANCE FEES FROM COMMERCIAL BANKS AND THESE FEES RELAXED…
rcookie says():LOOKING FOR REAL BANKS OFFERING COMPREHENSIVE BANKING SERVICES…AND NOT JUST CURRENCY AUCTION SHOPS….
CALLING FOR EMERGENCY PLAN FROM CBI TO ATTRACT THE $30 BILLION IN THE CHUNKY MONEY FROM THE CITIZENS HOMES…AND USE TOWARD INVESTMENT AND ECONOMIC GROWTH….
rcookie says():GOVERNMENT INTERVENTION AND ACTION FOR QUALITY & QUANTITY LEAP IN BANKING ACTIVITY TO FACILITATE LEGISLATION THAT CUTS ANY RED TAPE THAT WILL STALL OR OBSTRUCT INTERNATIONAL INVESTMENT….
SAYS ITS TIME TO REVITALIZE THE IRAQI ECONOMY…AGRICULTURE…TOURISM…IN FREE MARKET PRIVATIZED SYSTEM DRIVEN BY THE BANKING SECTOR BY STRENGTHENING INVESTOR CONFIDENCE…..
rcookie says():SPEED UP LENDING FOR LARGE INDUSTRIAL & AGRICULTURAL PROJECTS…OF A THOROGHLY REFORMED AND UPGRADED BANKING SECTOR THAT WILL COMPETE WITH THE MODERN BANKING SERVICES OF NEIGHBORING COUNTRIES LIKE JORDAN…TURKEY…LEBANON…AND GLOBAL ENTITIES…
rcookie says():WHEW!!!
rcookie says():THAT ARTICLE ABOUT ROLE OF PRIVATE BANKING…..WAS AWESOME….DONT THINK MOST WERE WATCHING….ALSO HAD ANOTHER ONE RIGHT BEFORE ABOUT IMF SUPPORTING SDR’S FOR ITS MEMBERS…….
rcookie says():REALLY GOOD STUFF….
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