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Enorrste/Kaparoni - "One Small Step" - Dinar Alert News Discussion 3/1/18

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Enorrste/Kaparoni - "One Small Step" - Dinar Alert News Discussion 3/1/18

Post  Ssmith on Fri Mar 02, 2018 8:45 am

Dinar Alert

I agree with KAP on this one. Once the ball starts rolling it will proceed quickly to a value that we can all enjoy. The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back. I will be surprised if we don't see the float begin sometime this year.

Kaperoni: Alnasiri: Implementation of the Central Bank's strategy contributed to the improvement of the dinar's exchange rate against the dollar

​26/2/2018 Economy News _ Baghdad, He said economic adviser to the banking and the Association of Iraqi private banks Samir Nasiri, the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and the support of the state treasury and the methods and procedures for new tools in monetary policy applications.

He said Alnasiri in an interview for "Economy News", " the central bank worked mainly on the fight against money laundering and the financing of terrorism, and strict compliance with regulations and international norms and standards and the re - evaluation and classification of banks in the light of the extent of its compliance and to determine the final beneficiary in foreign currency selling and working mechanisms window systems new proactive control in both internally and externally led to a rise in the value and purchasing power of the Iraqi dinar against the US dollar exchange rate ,

"noting that" the main reasons for the recovery of the Iraqi dinar is the plan and procedures for the central bank and cooperation with the banking sector and a commitment to collaboration Died and standards issued by the Central Bank. "

He Alnasiri that " the Iraqi banking sector , the first key link in the Iraqi economy rings and occupies an essential aspect and important as the financial sector and investment , which constitutes the main part in the financing and management of economies."

And that " the Iraqi economy, and because of the conditions experienced during the last three years of falling sudden oil prices by 70% and the costs of the war on terrorism and economic recession and because the business is unstable in Iraq , the environment, led to the passage of this sector significant challenges not experienced by any banking sectors in each region , "he said, adding" this sector of government , both private and under the leadership of the Central Bank of Iraq and the interface of these challenges , a pilot experiment must be emulated and taught , because what has been achieved is a major development and the victory we call in Iraq 's financial victory and economic resilience. "

He stressed , "We are targeting over the next five years in a sustainable development plan for the years 2018-2022 to achieve financial sustainability," pointing out that " the government and the private banking sector , a fundamental and important role in achieving it."

He Alnasiri " the banking sector consists of 72 banks, of which 7 government and 65 banks waged, with a number of know banks inside and outside Iraq , up to 1068 branches."

He noted that "during the past 5 years from 2013 to 2017, we note that the Iraqi banking sector 'capital grew by 98% , " noting that " the total assets of the banking sector grew by 15.7%, and deposits that form the basis for the liquidity of the banking sector grew by 154%, The cash credit grew any loans granted to customers Iraqi citizens by 77.5%. "

He said "developments in the banking sector indicate the efficiency of the performance of this sector trends that are reflected on the gross domestic product," pointing out that " the different economic sectors, including the Iraqi banking sector , which is the first episode in the economy to measure the efficiency of its performance indicator is the extent of its contribution to the gross domestic product "he said, adding that" in spite of this development in the sector, the contribution to GDP is not the level of contributions to the regional countries that have preceded us. "

He added that "in light of the International Monetary Fund reports and the World Bank indicate that the percentage of credit cash contribution to the gross domestic product in Iraq does not exceed 8%, note that compared with the Middle East and East African countries , up to 55% , " he said . "This difference is vast because of the special circumstances of Iraq since 2003 , and particularly the past three years and because our economy depends mainly yield on the basis of oil by 65% of GDP. "

" The oil revenue constitutes 95% of the revenue allocated in the budget and that Iraq heavily influenced by falling oil prices."

And completed this "central bank policy contributed to the payment of farmers and contractors dues and played a key role in launching the financing of small and medium enterprises initiative .

This initiative allocated bank although it is not based in the Central Bank Law No. 56 of 2004, "he said . " the central bank 's footsteps of this thoughtful and bold step in order to activate the economic cycle , because this initiative achieved the first two goals , economic and other social. "

He stressed that" the banking sector the other part of a strategy Central Bank during the five years 2016-2020, which include developments in structural structures and evolutionary and in compliance with international standards in risk management, and compliance and anti - money laundering in the banking awareness ,

"pointing out that" due to the Central Bank of Iraq adopts standards for the classification of banks classification a, b and c this implies international standards issued by the financial action Organization ,

which all this has helped Iraq to move in the light of the order of this organization from the gray area to follow - up area and we hope that in 2018 we turn to another advanced stage where the improved credit rating for Iraq. "


Phil Oberholzer: Nice highlights Kap. TY...I hope they're right in saying that its' the CBI creating the increase in the dinar and not that the $ is dropping in value.

Punisher: Either Al Nusari is a lying bag of s**t and does not know what he is talking about and he is out of touch with reality.....or the CBI is actually helping to create this situation for the dinar. It cant be both.

Kaperoni: They had a few months with the UST and IMF to figure out a plan to reduce the spread. It seems likely they are ontrack to compliance. We all know the investment won't come if they do not get the market economy going. Time is running out.

Punisher: I agree Kap, I agree.

Tobyboy: Targeting over the next 5 years in a sustainable development plan for the years 2018-2022 to achieve financial sustainability. Prev they looking at 2017-2021 guess continue to kick the can down the road. Of course this is if the corrupt politicians don't put their greedy hands in the CBI cookie jar.

Seems no way to stop them, everything control by the corrupt politicians. These dirty politicians they don't want the ecomony to progress what a shame for the people of Iraq.

Kaperoni: Toby, don't confuse these longterm economic goals with currency reform (which is all we care about). I believe once it starts, it won't take more than a year to rise to a value we are confortable with.

Enorrste: I agree with KAP on this one. Once the ball starts rolling it will proceed quickly to a value that we can all enjoy. The simple fact is that there are now a vast majority of factors in our favor versus the few left that seem to be holding this back.

ISIS is decimated in Iraq; the banking structure is becoming more internationally connected; interest in investing has risen even if actual investment has not yet begun;

the CBI has finally tackled the problem with the spread (this is really key);

the CBI is officially on the record now for some time to move toward a floating currency;

talk of ending the auctions has risen to the point that it will become a reality soon;

the IMF is trustee over the CBI and is on record to move Iraq into the real world; etc.

I will be surprised if we don't see the float begin sometime this year.

monty.monks.007: Thanks everyone, I'm liking the nuggets today. ​

Punisher: The banking sector is getting up to par with international standards, and with a solid base of a banking sector comes currency reform. They are not doing all that for the slice of pound cake that must come with every meeting. And the good news, the market rate is getting in line!

Tobyboy: Thanks Kap & Enorrste for your responses. They just need to get this started. Didn't we have article yr ago stating the rise to dollar could take up to 5 years. That would be fine if they would get this going unfortunitely it seems they keep pushing this back.

Punisher: Strange there is still no market rate reported for Wednesday this late in the day.....


Kaperoni: Central Bank of Iraq (CBI) News > From CBI - Thanks and appreciation from Swift Worldwide

February 28, 2018 In appreciation of the efforts to provide the Iraqi banking system Mttmla Central Bank of Iraq and all operating banks in Iraq used the security standards of your self-approval of the Customer Security the Program ( the CSP) ,


the Central Bank of Iraq received a letter of thanks from the Swift global company and thus the Central Bank of Iraq is one of the first central banks Middle East which have committed and ordered its banking system by applying the criteria listed as part of measures to enhance the security of Almtkhaddh external transfers environment. https://cbi.iq/news/view/618

Kaperoni: Swift website


Punisher: Good to see this!

thus the Central Bank of Iraq is one of the first central banks Middle East which have committed and ordered its banking system by applying the criteria listed as part of measures to enhance the security of Almtkhaddh external transfers environment.

Paxx: Great new for sure! But still so hard to get excited with Iraq. They still have not passed their 2018 budget. Thanks Kap.

justwaiting: Supposedly not met today due to lack of quorum ~ here is a Snip from Alsumaria

Baghdad Jubouri calls on MPs to attend tomorrows session to vote on the budget

2018 15:27 Wednesday 28 February

Parliament Speaker Salim al-Jubouri on Wednesday called on all deputies to attend the session on Thursday to vote on the budget law for 2018, saying that delaying the adoption of the budget will cause "great obstruction" in the work of state institutions. (article continues)

monty.monks.007: Nice to see them getting the bank compliant with another international step prior to moving forward.


Kaperoni: Central Bank of Iraq - Basra branch organizes a seminar on financial inclusion

Monday, February 26, 2018 - 16:48 Iraqi Central Bank Systems - Basra branch seminar on financial inclusion was attended by a number of officials and some bankers were held under the slogan (the contribution of the community in the economic development of the country).

He said the bank manager in Basra Qasim Rhiv in modern Mrbd that the seminar aims to absorb the masses of cash outside the bank in order to control the process of banks and banks can be invested by running small or medium-sized enterprises.

For its part, the lecture at the seminar said Lina Tawfiq that among the objectives of the symposium is the definition of citizen financial inclusion, noting that the rate of banking illiteracy in Iraq, where a large proportion of users up banking and financial services to 10%

Tawfiq pointed out that the bank is trying to increase the number of users upgrading banking services and the inclusion of all categories and segments and areas, including districts, villages and rural areas.

So he said the head of the Economic Committee in the Basra Governorate Council Aqeel al-Khalidi said among the interventions raised by the Committee at the symposium is that there should be a study of the financial and banking reality in Iraq, especially since the financial culture does not exist in the banks.

Among Khalidi said the government banks as Rafidain and Rasheed, which had enjoyed a high level is currently experiencing a significant deterioration in terms of furniture hardware and software remained primitive tactics, indicating that the central bank is not obligatory on imposing banking laws and keep customers as high-handed banks to customers other than banks global offering many services and many facilities for its customers.

While the description of the bank manager Iraqi National Basra branch Majid Hamid Sudanese subject of financial inclusion as of the finest topics that can be talked about in terms of the financial sector or banking, but between that the ground that can walk and, unfortunately, it must be available to move financial inclusion still at the beginning of the road and in steps The first must be made available banking services to all segments of society and reach the simplest slides in order to push them to deal with the bank.

He said the Sudanese that there are many reasons for pushing citizens to refrain from the bank, including the high fees and techniques that are difficult to deal with and between the need to educate the citizen to talk about banking and financial withdrawal by phone or ATM and said that we are still Nafqatr to culture that can implement financial inclusion which require extraordinary efforts by all government departments, banks and citizens


Punisher: Lots of talk today about financial inclusion.

Mike: This ties in with the other articles, it looks like 10-11% of the Iraqi population are engaging the banks right now. Are those folks sitting on plastic lawn chairs?

Phil Oberholzer: LOL! Mike I thought the same thing as soon as I saw the picture....I guess these bankers aren't as important, I don't know...LOL

Punisher: the need to educate the citizen to talk about banking and financial withdrawal by phone or ATM and said that we are still Nafqatr to culture that can implement financial inclusion which require extraordinary efforts by all government departments, banks and citizens

Mike: They've got a big job in front of them, 90% of the population ignores the banks. Toaster incentives aren't going to create new accounts.

Punisher: Mike, Are those folks sitting on plastic lawn chairs?

That is how they keep their billions....by not spending it on expensive things LOL!

Jack: Thought question: How advanced was the Kuwait citizenry when their valuation changed? Or, is this where the locals learned that there should be training first? Also, they did not have a Maliki backing his trucks up to the banks, emptying them out. (If the US "captured" the truckloads of US$100s -- did they take it back to the US treasury, or personal accounts? If so, the US needs to hand those millions (billions?) back over to Iraq -- that was stolen from the people. Just some deep thots. --Jack B. Nimble

Mike: Jack-Kuwait was in great financial shape when Iraq invaded them in August of 1990, the currency was already valued above $3-1 KWD, the citizens were very adept at using the banks, it's like a night and day difference between today's Iraq and pre-invastion Kuwait.I don't know about the rest but I'm reasonably confident the US government wouldn't knowingly steal Kuwaits money.

Jack: Thanks Mike. Big banking education for Iraqis is called for. On other foot: I was thinking/musing about the recovery of Sadaam Husseins money after the defeat of the Bathists in Iraq. The US did not do any favors if the cash were taken out of Iraq and away. Of course there was no banking system to deposit cash into at that time. Someone over here, might owe some big bucks back to Iraq. Jack B. Nimble

Mike: Good stuff Jack, we both agree that banking education is required in Iraq, No one trusts the banks after Saddam raided accounts to support the war against Iran, it's institutional distrust that the CBI is forced to overcome. However, Iraq did have a western supervised bank account, it was the DFI fund that was created in May of 2003:

In May 2003, following the invasion of Iraq in March of that year, the Central Bank of Iraq-Development Fund for Iraq (DFI) account was created at the U.S. Federal Reserve Bank of New York at the request of the Coalition Provisional Authority (CPA) Administrator.

A part of the fund has been transferred to Baghdad and Iraq, and the DFI-Baghdad account was opened at the Central Bank of Iraq "for cash payment requirements".[1] The fund also eventually received money (US$1.724 billion) from seized and "vested" Iraqi bank accounts and funds seized by coalition forces ($926.7 million). ($650 million) of this amount belongs to Uday Saddam Hussein, the older son of the former Iraqi president. https://en.wikipedia.org/wiki/Development_Fund_for_Iraq

Mike: I'm not saying the US is perfect, but I don't think we stole money from the Iraqi people. Heck, we invested billions of dollars propping Iraq up after Saddam was deposed, I don't think the US stole any money from Iraq.


Kaperoni: Iraq Dinar, Iraqi Banks, Iraqi Stock Exchange (ISX) News > Iraqi dinar exchange rates (February 28)

28/2/2018 SULAIMANI — The U.S. dollar to Iraqi dinar (IQD) exchange rate was stable in the Kurdistan Region’s currency markets on Wednesday (February 28).

Broker Dana Mawlud told NRT that $100 was selling at 122,250 Iraqi dinars, maintaining the same rate as the previous day.

Mawlud also reported that 100 British pounds was 1000 IQD down to 167,000 and 100 euros was also 1000 IQD down to 148,000. (NRT) http://www.nrttv.com/En/Details.aspx?Jimare=18989

Punisher: so still at 1220 today.

Kaperoni: 1222 to $1

Paxx: Not too bad. Could be worse I suppose. I am just so eager to see this 2%.

Punisher: Same ballpark Paxx. Not bad but I want to see it drop.

monty.monks.007: One small step for Dinar land, one HUGE leap for Iraq .

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Re: Enorrste/Kaparoni - "One Small Step" - Dinar Alert News Discussion 3/1/18

Post  Kevind53 on Sat Mar 03, 2018 12:21 am

Really? While they are dealing with this?

I can only conclude you're a liar or...

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