Samson: The rise of bank assets to more than 120 trillion dinars
5th August 2019
The Central Bank of Iraq announces the increase of the assets of banks during 2018 by 10% compared to 2017 to exceed 120 trillion dinars equivalent to (100 billion dollars), indicating the increased confidence of depositors in banks, which reflects positively on the development of the performance of banks and its contribution to the development of the Iraqi economy.
The bank explains that its strategic actions have contributed to increasing confidence in the banking sector and improved financial coverage, which has been reflected in the growth rate and steadily increasing bank assets and deposits. Adding that this rise came from mutual trust between citizens and the banking system through the development of attracting cash deposits and commercial operations to banks more .
It is worth mentioning that the Bank has made accounting adjustments to the total assets of commercial banks in accordance with the International Accounting Standards as of January 2012 .
Central Bank of Iraq information Office 5 August 2019
https://cbi.iq/news/view/1222
Crose: This is the second article today that acknowledges the dropping of three 0
00 from trillions to billions. This even says dinars to dollars. from the CBI NO LESS IMO.
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Samson: The stock exchange stopped its activity for five days (next week)
The bourse announced on Monday that it would suspend its activity for five days on the occasion of Eid al-Adha.
“Due to Eid al-Adha, the stock exchange decided not to organize trading sessions for the days from August 11 to August 15 for the holiday of Eid al-Adha,” the stock exchange said in a statement.
The statement added that “the first trading session in the Iraqi market for securities will be after Eid al-Adha and from Sunday, 18/8/2019 link
Jaimie-O: As Frank always says……GREETINGS FAMILY.
Why is nobody talking about the article Samson brought us about them closing the Iraqi stock markets for FIVE days on Sunday the 11th. The stated reason is EID so on the surface, this comes as no surprise. But come on – it’s obvious.
This thing is all primed and set up to pop on the 11th. This gives them a whole week from today to gather the nerve to make the big announcement we’re looking for. Then, on Sunday the 11th – when all the markets are closed………BAM!!!!!!!!
And then all the markets have time to re-set before they re-open. AND Iraq has FIVE days to re-set everything before their markets open.
Maybe it’s just my wishful thinking….but I am calling it for this coming Sunday the 11th!
OBVIOUSLY ALL IMHO !!!
Samson: Gold hits a 6-year high because of trade and growth concerns support demand
5th August, 2019
Gold prices jumped more than 1 percent to their highest level in more than six years on Monday, with the escalation of the trade war between the United States and China as well as global growth fears that pushed investors to safe haven assets
Spot gold rose 1.1 percent to $ 1456.51 an ounce by 0725 GMT, after hitting its highest level since May 2013 at $ 1459.47 earlier in the session
Gold futures in the US rose 0.8 percent to $ 1468.50 an ounce
On Friday, China said it would respond to US President Donald Trump’s decision to impose a 10 percent surcharge on Chinese imports worth $ 300 billion
The Federal Reserve may have to raise interest rates more than it had hoped would be necessary to protect the US economy from the risks of trade policy
The yellow metal received support from touching the dollar index to its lowest level in a week, reducing the cost of gold to non-dollar investors
For other precious metals, silver rose 1.9 percent to $ 16.51 an ounce, while platinum rose 1.4 percent to $ 854.33
Palladium rose 1 percent to $ 1,420.60 an ounce. LINK
Magliteparty69: IMO I think we’re watching the beginning of the system breaking. Dow is down 700, world stocks down, msm are shouting currency war, and gold is quickly climbing…
Iraq is ready…The blessing is coming….WWG1WGA
2Cents: Dr Shabbibi said at the US Chamber of Commerce years ago “After Eid, before the New Year”………IMO Greater Eid is coming in a week, Islamic New Year is on or around 8/31 this year. Kuwait Donor Conference funds to be released soon. Parliament said “Laws for the Citizens” will be passed in September… Interesting developments IMO…..
Samson: Deputy for: the amounts of the Kuwait conference will arrive soon and reconstruction in Nineveh in the coming days
5th August, 2019
MP Nineveh province, Thabit Mohammed, said Monday that the province will witness in the coming days the launch of service projects and reconstruction campaigns, pointing out that the amounts of the Kuwait Conference for the reconstruction of the affected areas will arrive soon after the visit of Halbousi to Kuwait.
Mohammed said in a statement to the information, that “the budget allocated to Nineveh has arrived in the province and began to work in small projects represented by campaigns cladding in the streets affected by terrorism, and roads within the city center and districts.”
He added that “the amounts were distributed according to a plan prepared in advance, but they represent a very small proportion of the ambition and need of the province, as the amounts of the operating budget is not sufficient and can not save Nineveh from the devastation caused by terrorist operations.”
“The last days witnessed the visit of Speaker of Parliament Mohammad Al-Halbousi, accompanied by some governors of liberated provinces, to Kuwait, where it was confirmed the arrival of funds allocated at the Kuwait Conference for the reconstruction of the affected areas, and it is likely that the projects will start in the next few days.” LINK
Noneb4him: This is a good thing! Promises made, promises kept. And doesn’t Article 8 come into play here? Freedom of capital movement and all that good stuff.
Hammy14: Here you go, people! Take a look……”arrival of funds allocated at the Kuwait Conference for the reconstruction of the affected areas, and it is likely that the projects will start in the next few days.” HUGE!!! These funds arriving from the Kuwait Conference were not to be used UNTIL Iraq became Article VIII compliant with an internationally traded currency!!! Projects starting in the NEXT FEW DAYS??? We shall see, but this is some really BIG NEWS here, IMO.
Samson: Government clarification of the mechanism of opening Baghdad airport to passengers directly at Eid
2019/8/5 15:13
The committee tasked with opening Baghdad International Airport on Monday held a preparatory meeting to begin the opening of the airport at the date set by Prime Minister Adel Abdul Mahdi.
A statement by the Civil Aviation Authority received a copy of the agency (Euphrates News) that “the meeting under the technical agent of the Ministry of Transport demanded Abdullah Baysh, Director General of Iraqi Airways Captain Kifah Hassan and Director of Baghdad International Airport Ali Taqi and the technical committee charged with the airport.”
Taqi pointed out that “the meeting discussed the logistical preparations for the opening of the airport gradually starting from the first days of Eid al-Adha, facilitating the entry of passengers with air tickets to the lounges and increase the number of entry points in front of them.”
He stressed that “the management of Baghdad International Airport has completed all its effective steps to remove the barriers and expand the airport road after coordination with the competent authorities in the past few days to open the airport in front of passengers gradually, and to create alternative routes to the military Ararat and to open new outlets and expand existing roads and simplify the procedures for entry of passengers to the halls Airport”. LINK
Tivon: The Islamic International Bank announced the opening and release of “Travel Cards” to Iraqi citizens almost two weeks ago. During the month of June they announced preparations for electronic Visa Company and Mastercard
.
They also announced All licensed banks. Licensed Payment Companies. E-Government – Aviation Iraq – Baghdad Airport, Al-Basrah Airport, Madar Al-Fouf, Erbil Airport, Sulaymaniyah Airport – Travel and Bath Offices. Purchase, citizens, citizens.
They added that the purchase abroad would be at 1.200. Are we not to assume that in the next 7 days these blocks will be removed in conjunction with introduction of an International exchange rate to accompany flight bookings outside Iraq in order for a conversion rate to be applied to ticket prices?
How else would they facilitate air travel if they are still on a program rate?
Anyone here do not consider this article a key component as to when we can possibly see a rate change during EID that starts Aug-11-Aug-15? Can anyone else comment on how this can possibly happen without a convertible currency?
We have read in the past seven days alone the IMF warn Iraq of the current spending due to the oil surplus that can drastically affect their economy.
Everyone knows they have been released from the “SBA” and no longer have restrictions on their currency not to mention having the full support of the IMF for their 2019-2020 Budget, yet they are continuing to draw out this process longer then what it has to be when even SEIMANS, have announced that the security situation in Iraq is safe and secure for investors and companies along with contractors.
