KTFA Wednesday Night Conference Call 12-6-17
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Tink: Product to protect the currency and strengthen the dinar
December 5, 2017
Iraqi Trade is making the ninth draw for a worthy opportunity
Homs reveals to (time) the launch of a new dollar product to protect the currency and strengthen the dinar
Baghdad – Qusay Munther
The Iraqi Trade Bank revealed the launch of a new product in dollars to protect the currency from attrition as well as strengthen the dinar, while yesterday was held the ninth cloud of opportunity to qualify.
The director general of the bank, Faisal Al-Hims, told Al-Zaman that “a good product was launched during the month of February last year, and the first monthly draw was made last March. The first one was yesterday, the ninth cloud, in which the bank managed to raise amounts by 9 billion dinars.
“This product protects customers’ savings, which can be retrieved at will, because the hoarding of money in homes may expose them to theft or for many other reasons.” He added that “the customer can through the product access to the port to protect his money and also the opportunity to win prizes for money Which is invested by the certificate of deposit in addition He said: “This will contribute to restoring the confidence of citizens in the banks that have also started to compete with it.”
Al-Hymes revealed that “the issuance of a certificate of deposit in dollars is beneficial and linked to exchange rates and in several currencies, including the Iraqi dinar and this is beneficial on a basis we can support the dinar and also enter the currency with competition and non-depletion) .
For his part, Advisor to the Governor of the Central Bank Walid Eidi (time) yesterday that (the product is distinct on the banking scene where no other bank has initiated other than the Iraqi trade to issue such a product, especially this contributes to the withdrawal of liquidity from outside the banking system to the inside to re-invest In the process of granting small and medium loans to serve the requirements of growth and development in the national economy),
noting that (the product also benefit at the individual level of the applicant or the owner of that certificate will receive funds through the drawbacks specified by the bank), noting that (those projects aimed at achieving Growth at the level of the Egyptian arena As well as the economy in general), and on the budget deficit, Idi said that “the economic situation in the ongoing development despite the dizziness experienced by the country was difficult because of the events of the call and the requirements of the battle against those terrorist groups,” pointing out that (low oil prices) It also had a deficit, but Iraq was able to break a neck
Noting that (the House of Representatives can not restore the budget to the government that the law to withdraw only with the consent of the party that sent him), and he said that (the status of the Iraqi reserve in a continuous development and stable and also outside the conventional international ratios), and hard currency, There is a mechanism of criteria used in the auction does not amount to the East, having received approvals from the Treasury and the International Monetary Fund and even by the Security Council by informing them how to conduct the auction by explaining the governor on the most recent during his visit. The bank’s ninth lien was honored by honoring one of its employees for its trust that it had found 55 million dinars in the main branch of the bank.
The winners of the ten prizes offered by the bank to the participants were also announced by electronic lottery. Governorate of Babel Elham Abboud Rizki.
A number of musical activities of the Angami band were also seen in the drawing. The certificate is a deposit of 500 thousand dinars for issuance, which enables the holder of the certificate to enter the monthly prize draw of 10 million dinars or a semi-annual draw of 40 million dinars or the annual award which is a major 100 million dinars, and the product works to encourage citizens to deposit money In the banks for the purpose of preserving them, as well as restoring confidence through the application of the values and principles that the bank operates represented by credibility, transparency and trust.
Tink: withdraw the liquidity of state employees of the banking sector
Baghdad – Ali al-Husseini
6 December 2017
The Iraqi Association of Private Banks announced Wednesday that about three million Iraqis will set up bank accounts over the next two years thanks to the project to settle salaries of state employees in a government effort to stimulate the banking sector, which suffers from lack of liquidity .
The Executive Director of the Association of Private Banks, Ali Tariq, said in a press conference that the settlement of salaries of public sector employees of the important projects that will withdraw funds stored in homes and deposited in the banking sector , which reflects positively on the development movement.
The Central Bank of Iraq (CBE) estimates that home mortgage funds are about 34 trillion dinars ($ 30.2 billion), representing more than 70 percent of the currency.
He explained that the government is obliged to put the salaries of employees in the bank two days before the distribution of salaries, pointing out that the resettlement of salaries of projects that the World Bank.
The Central Bank began to settle the salaries of its employees in 7 private banks and then the General Secretariat of the Council of Ministers, while currently working all ministries except the security ministries to settle the salaries of employees in banks.
Tarek pointed out that the banks participating in the settlement of salaries increased their number one and became 15 banks after the accession of the Islamic Bank of Iraq, and that the doors are open to all banks operating in Iraq to enter this project on condition of possession of the infrastructure.
The Iraqi government expected the completion of this project over the next two years, which will avoid Iraq losses of up to 8% of annual GDP due to thefts and currency damage.
Tariq said that the project to settle salaries is mandatory for all state employees except for the security services.
In the same context, the Central Bank of Iraq, it was fully approved the process of payment of financial benefits through the electronic payment system, pointing out that the Central Bank will ask the Secretariat General of the Council of Ministers to adopt ministries e-dealing.
The Central Bank said in a statement that it has adopted the electronic payment methodology in all benefits and payments of its own, including the committees of procurement, repairs and transportation, indicating that the process has become a prerequisite for the transfer of the amounts required for a bank account and according to the selection of the beneficiary.
He added that the Central Bank will ask the General Secretariat of the Council of Ministers to adopt the electronic deal as a context in all ministries and state institutions, explaining that the aim of this trend to reduce monetary transactions, which gives transparency to all financial operations that occur in the ministries, especially in procurement and processing
JesusLovesBaseball: The Information Office of the Prime Minister
Prime Minister Dr. Haider Abadi: We have liberated our land and must return to the era of defeat and differences
Prime Minister Dr. Haider al-Abadi said that the world was thinking that Iraq will not return after 2014, but we liberated our land and we won and this did not happen by accident, but with sincere generosity and dear sacrifices and that this nation does not rise except by expensive sacrifices and giving science and knowledge.
This came during the presence of His Excellency the ceremony of distributing free scholarships for outstanding students provided by universities and colleges, which was established by the Ministry of Higher Education and Scientific Research in Baghdad this morning.
He added that he should not return to the era of defeat, disagreements, corruption, neglect, mismanagement and discrimination that helped to enter the occupation and occupation of our cities.
He congratulated Dr. Haider Al-Abbadi on the great victory achieved by the sacrifices of our people. He also praised the students for their excellence and their free scholarships, and described the outstanding students with the generation of victory.
The Prime Minister promised to mislead and lie and use the interests of citizens for political purposes betrayal after betrayal, stressing that we take into account the poor and low-income groups, especially on the subject of electricity collection.
He called on the universities to take care of the Arabic language, which was preserved by the Holy Quran, to cherish this language, to write in tongues in honor of the harmful language, and to learn other languages to increase knowledge and benefit from human experience.
Dr. Haider Al-Abadi distributed free scholarships to the outstanding students of the martyrs of the popular crowd, the displaced, the displaced and the orphans from the poor and needy families of 500 students in medical specialties.
Information Office of the Prime Minister
6 – December –2017 LINK