S.Josh: Article:“Banking integration is one of the pillars of the advancement of the banking sector” LINK
HUGE… IMO. REQUIRES! banks to sooner or later (I vote SOONER!!!!) stop relying on currency windows.
BANKS! Start BEING BANKS!!! Even if the window is still open, it MAY (read: ***WILL***) be closing!!!
GET USED TO IT
Manaolana3: Article: “Keywords: $ 200 billion worth of assets in banks” LINK
Wait a minute Alak! Seem to recall the President of the Association of Private Banks a few months back stating they had assets of $3B. Something happened since….care to elaborate? I can’t hear you. Could you please speak up
S.Josh: @ Samson, I saw this article posted this AM elsewhere and there was, IMO, another REALLY important paragraph that didn’t make it in your post!!!
The article goes on to state:
“He pointed out that “the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price,” noting that “this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmenthrough the stability of the working environment” .
He pointed out that “the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities.”i.
IMO, this sounds like they are COMING OUT AND STATING they are pegging their new rate to be EQUAL to the DOLLAR!!!!
Samson: President of the Association of Private Banks: The strategy of the Central Bank has overcome difficulties in front of banks
26th April, 2018
The President of the Association of Iraqi private banks, Wadih al-Hanalal, that the strategy of the Central Bank of Iraq 2016-2020 has a great depth and helped to overcome difficulties in the work of banks
“The central bank’s strategy for the years 2016-2020 has a very deep depth, which reflected positively on the work of banks and put difficulties in front of him,” said Al-Hantal in his speech during the session of “Investment Partnership” within the forum of investment and reconstruction opportunities in Iraq. “The Central Bank applies the recommendations that come out of the conferences in addition to visions of the World Bank.”
He pointed out that “the Central Bank introduced the follow-up department and had a significant impact in the implementation of its decisions, which reflected positively on the banking sector.”
He pointed out that “the visit of the Bahraini banks to Iraq has not occurred since 1980 and has opened important doors and we hope that the Bahraini banks to be correspondent banks.”
He pointed out that “the Central Bank is the strategic partner and the big tent of the banks and because of its directions, Iraqi banks have international accounting standards in addition to the implementation of the requirements of the global financial system.”
He noted that “the Association of Iraqi private banks trained 1800 people to the best international standards, in addition to training the youth through the course of empowerment and employment in the banking sector.”
“For the first time, banks have participated in community initiatives, and the initiative of Baghdad to rehabilitate 20 fields has been funded by the private banking sector as well as the initiative support fund LINK
Don961: Report: Trump is on a working visit to Britain in July
25 April 2018 06:18 PM
US President Donald Trump will pay a working visit to Britain in July and will be announced in the coming days, according to press reports.
“Trump” will be on a working visit to Britain, which is less important than the official international visit, Sky News said on Wednesday.
British Prime Minister Theresa May invited the US president to an official visit when she went to Washington in January 2017, sparking widespread protests in Britain.
This comes as the United Kingdom is ready to leave the EU after the referendum, which Trump announced its support. link
Samson: Three years of severe imprisonment against the director of the Rasheed Bank branch Ramadi
26th April, 2018
Anbar criminal court on Thursday sentenced the director of the Rashid Bank of Ramadi to three years in prison for discharging loans in violation of legal rules.
“The accused has disbursed loans to the employees of the Anbar Police Directorate in the amount of 10 billion dinars without a credit allocation and contrary to legal contexts,” Judge Abdul Sattar Birqdar, spokesman of the Supreme Judicial Council, said in a statement received by al-Ghad Press.
“The court issued a severe sentence of three years for the accused in accordance with Article 340 of the Iraqi Penal Code,” he said. LINK
Iggy: A woman was taking an afternoon nap. When she woke up, she told her husband, “I just dreamed that you gave me a pearl necklace. What do you think it means?” “You’ll know tonight,” he said. That evening, the man came home with a small package and gave it to his wife. Delighted, she opened it to find a book entitled “The Meaning of Dreams.”
The Purge Begins: Deutsche Bank Fires 400 US Bankers
by Tyler Durden
Thu, 04/26/2018 – 11:56
As part of its latest disastrous earnings, which saw trading revenues tumble by 17% as new CEO Christian Sewing took over, we reported that Deutsche Bank announced a sweeping restructuring plan, abandoning its long-running ambitions to be a top global securities firm, scaling back U.S. rates sales and trading, reducing the corporate finance business in the U.S. and Asia, and reviewing its global equities business with a view toward cutting it back, the bank said in a statement.
The measures will lead to a “significant reduction” in the 97,130-person workforce this year, Deutsche Bank said. We translated it more simply: massive layoffs.
Predictably, the German bank wasted no time, and according to Reuters and Bloomberg, the purge began overnight when Deutsche fired 300 U.S.-based investment bankers on Wednesday with another 100 pink slips expected over the next 24 hours.
In total, the biggest German bank plans to cut more than 1,000 jobs, or over 10%, of total US jobs in its initial restructuring phase. According to Bloomberg, the US hosts about 10,300 Deutsche Bank employees, or about a tenth of the firm’s global workforce.
In his earnings call comments, CEO Sewing stopped short of disclosing how many of the bank’s 97,103 jobs would be let go…
While CFO James von Moltke also gave few clues as to how much of its massive 1.4 trillion euro ($1.7 trillion) balance sheet would be shed in the process. Von Moltke estimated restructuring costs for 2018 would rise to 800 million euros, up from an earlier estimate of 500 million euros, according to Bloomberg.
“These cutbacks will be painful, but they are unfortunately unavoidable if we want to be sustainably profitable in the best interests of our bank, our clients and our investors,” Sewing said.
As noted earlier, the bank plans to reduce its activities across the board in the U.S. including rates sales and trading and corporate finance. Areas where the investment bank still believes it can grow globally include foreign exchange, commercial real estate and structured equity financing, Garth Ritchie, head of the investment bank, said in a memo to clients obtained by Bloomberg.