BLC's Admin tlm724 News & Comments

BLC's Admin tlm724 News & Comments
10/24/2013





Expert: the scarcity of small-class currency due to the unwillingness of banks to deal with the 24-10-2013 10:30 AM

[tlm724] no small bills in the market becasue the CBI isn't restocking them

[sisterbreen] hmmm

[tlm724] yep saying these small don't last

[tlm724] again we are seeing the currency vacumn and this expert is saying the CBI needs to print them and stock the banks
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Reduce the money supply 10/24/2013 12:00 AM

called researcher economic state fair government banks to develop its adoption of modern technology to reduce the size of the money supply in circulation.

[tlm724] adoption of modern technology to reduce the size of the money supply in circulation

[tlm724] that the systems of modern banking in the state banks would activate the automated systems of the card electronic WHAT KEEPS More liquidity in the bank accounts

[tlm724] if the people can do their banking electronically it will encourage them to keep more in the bank , kinda a trust thing and that will also allow the banking sector to grow, increasing the banks capital etc..

[tlm724] they must be very close to having this system completed imo

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Experts: oil technology adoption will stimulate other industries

10/24/2013 12:00 AM BAGHDAD - Hussein Tamimi

experts predicted the possibility of benefiting from the experience of the oil sector in the adoption of the acquisition of modern technology in the payment of industrial and other productive to follow suit.

[tlm724] due to current economic policies, which requires the provision of appropriate climate for the transfer of advanced technology to the country

[tlm724] EVERYTHING is going electronic, they cannot advance economically without it !

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The exclusion of 12 banks waged daily currency auction

10/24/2013 12:00 AM

Experts warned of the acquisition banking companies by Baghdad - Mostafa Hashemi - Fatlawi

varied views of specialists in economic affairs around the central bank's decision excluding 12 out of 32 banks waged from the auction currency for not achieving increased their capital to 250 billion dinars

[tlm724] these banks did not increase their capital thereby they lose trust and their reputation in country and out of country. It also opens the door for more non-bank brokers,markets to participate in the auctions creating an atmosphere away from the Banking goals of Iraq.

[tlm724] that private banks are not yet eligible to take their role in the development process.

[tlm724] influences on the stock exchange and the process of withdrawal of depositors and undermine confidence in the banks.

[tlm724] it also effects future partnerships with foreign banks coming into Iraq, kinda puts the brakes on with these civilian banks

[tlm724] the current banking law of the CBI is putting restrictions on these banks, need to get that amended asap ! that the economic reform process starting from banking reform as a key lever that goes by the economy required to lift the restrictions that limit movement

[tlm724] one solution being discussed here is to merge some of these banks which will enable them to meet the capital requirements.

This action should help control or eliminate the brokerage firms and create a more stable environment for the currency exchanges and " that this action will not affect significantly in the currency exchange rate, because there are large reserves in the Central Bank amounted to 80 billion dollars and more than 30 tons of gold"

[tlm724] very interesting read