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Tishwash:  Allawi is conducting an inspection visit to the Rafidain Bank

The Ministry of Finance announced, on Tuesday, that the Minister of Finance, Ali Allawi, made an inspection visit at the Rafidain Bank.

The ministry stated in a statement received by “Al-Eqtisad News”, that “Minister of Finance Ali Allawi and Undersecretary of the Ministry Taif Sami conducted an inspection visit to Al-Rafidain Bank (General Administration) on Monday 3/22/2021.”

The statement added, “This visit comes to see the bank’s workflow, the quality of services provided, and the speedy completion of banking transactions for customers.”

Allawi directed, according to the statement, the necessity of “applying the automation system to banking work as soon as possible, similar to sober international banks to provide better services to the Iraqi citizen,” calling for “rebuilding its branches to suit the bank’s ancient status.”

The statement pointed out that “I instructed to grant loans for projects, support businessmen, and reconsider lending mechanisms.”

During the visit, Allawi listened to the problems and obstacles facing the bank’s employees to develop appropriate solutions for them, according to the statement.

Allawi directed, “to overcome the obstacles that may hinder the implementation of the work with the accuracy and speed required in accordance with the applicable instructions   link

Tishwash:   Our banks in the official data of the central

The Central Bank issued financial statements for the activities of government and private banks for the year ended 31/12/2020, and one of the most prominent indicators, at the overall level, was the achievement of the banking sector good annual results in complex economic conditions, the spread of corona and economic closure, the comprehensive and partial ban, and this comes from the strong commitment of the banks to implement the central instructions to continue daily hours and provide banking services and products to the public and companies, as well as the implementation of the central bank’s private initiatives in 2020 and the continuation of new initiatives in the last quarter of the year and in 2020, and the continuation of new initiatives in the last quarter of 2020 1

By stimulating the economic cycle by activating and stimulating banks to finance SMEs and housing, which has had a major impact in maintaining the stability of the new exchange rate, and from analyzing indicators and comparing them to 2019 at the total level, evidence of a 6 percent increase in bank capital, deposits of 4 percent, cash bank credit by 19 percent, total assets by 2 percent, and at the level of private banks a clear increase in the capital ratio by 8 percent and investing in the total capital of the banking sector by 76 percent, and the increase in the percentage of the banking deposit stake, and the increase in the percentage of private banks by 8 percent. 13 percent, 16 percent cash credit, total assets maintained their level as in 2012 in 2019.

The 25 percent increase in non-performing debt from last year was also marked by a lack of commitment from some borrowers and a postponement of repayments for the first months of last year in light of the central bank’s decision to support borrowers due to the Corona pandemic.

From the analysis of the data compared between government and private banks, the imbalance and large differences in the distribution of deposits, cash and pledge credit and assets remain, and the share of private banks for deposits is 13 percent, credit 16 percent, total assets 21 percent and profits 22 percent.

So the redistribution of powers and grants of flexibilities Sufficient for private banks in a balanced way with government banks, by activating the decisions to support private banks issued by the Council of Ministers and the committee of former economic affairs, which is also an urgent demand of private banks, the white paper referred to in the objectives of banking sector reform, which is to allow private banks to take their role as leverage for the economy and end the role of government banks as a financing arm Banking.   link


Tishwash:  An Iranian report warns of Iraq’s insistence on the decision to amend the dinar exchange rate!

An Iranian report warned that the Central Bank of Iraq would proceed with the decision to adjust the exchange rate of the Iraqi dinar against the dollar, while it included a list of tweets transferred from accounts related to the factions, calling for a reduction in the price of the dollar inside Iraq

The report published by the semi-official Iranian channel Al-Alam, which was followed by “People” (March 22, 2021), citing economic experts – whom he did not name – that the decision to amend the exchange rate of the dollar “restructured banks because they do not participate in the currency auction and that the coming period may witness a merger process.” For banks with each other. ”

The report used tweets from accounts and “mob” figures who organized a campaign against the decision to amend the Iraqi dinar exchange rate against the US dollar.

Officials in the Iraqi government say that the decision to adjust the exchange rate has harmed the interests of many parties that were exploiting the auction of selling dollars to inflate their fortunes by using “banking interfaces” accused of facilitating the exit of hard currency outside Iraq.

The government is also betting that the decision will, in the medium term, contribute to the recovery of agriculture and national industry, and reduce imports from neighboring countries and others  link


Cutebwoy:  Al-Ittihad: The differences with Baghdad are minor and will be resolved before the date for the budget vote

The information / Baghdad ..

MP for the Patriotic Union of Kurdistan, Hassan Ali, confirmed, on Tuesday, that the crisis between Baghdad and Erbil over the budget is uncomplicated and can be resolved within hours, indicating that the negotiations will end before next Saturday.

Ali said in a statement to “the information” that “the Kurdish government delegation has reached great understandings with Baghdad on the budget, and what remains are sudden additions that have disrupted the negotiations.”

He added, “The agreement will be easy during the coming days, and there are no complications in the negotiations, as some indicate, but the legal texts will be the only solution between the two parties.”

Ali explained, “The Kurdish delegation will return before next Saturday, which is the date for passing the budget in the House of Representatives to discuss the latest developments and put the final touches on it.”

Al-Ittihad: The differences with Baghdad are minor and will be resolved before the date for the budget vote

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