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"Driving it Home" - Fri. PM KTFA Thoughts/News 4/27/18

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"Driving it Home" - Fri. PM KTFA Thoughts/News 4/27/18

Post  Ssmith on Sat Apr 28, 2018 8:17 am

KTFA

Get1Later » April 27th, 2018


So how is THIS BE DONE with .....

- Restrictions on their Currency

- Program Rate STILL Official

Investment opportunities that took place at the Investment and Reconstruction Forum in Baghdad

April 26, 2018

The Iraqi Center for Economic covering the investment leaves and memorandums of understanding that took place in the Forum of investment opportunities and reconstruction in Baghdad today:

1- Rehabilitation and development of central markets (Mustansiriya, Central Market, Justice, Labor, Salihia and People) Worth $ 205 million, the British company Daeco

2 – Muftiyah project in Basra (residential, entertainment, commercial) worth 234 million dollars, the company Daeco British

3 – Caustic soda complex and the production of table salt in Muthanna worth 80 million dollars. Al Ghaith UAE Company

4 – Signing 3 memorandums of understanding with the Kuwaiti investor Jawad Bukhmsen to establish 3 hotels and commercial centers in Kadhimiya, Karbala and Samarra.

5-star hotel and commercial center in Baghdad.

6-e-government project via satellite.

7 – Construction of the industrial city in Baghdad

8- Expansion and development of Andalus Specialist Hospital in Baghdad

9- A branch of an international university specialized in Baghdad with an area of ​​25 acres – Al Hawadi Group.

http://en.economiciraq.com/2018/04/26/investment-opportunities-that-took-place-at-the-investment-and-reconstruction-forum-in-baghdad/

Don961 » April 27th, 2018

This appearing once again today ..... Student News Agency ... keeping it out there

"the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities."...

in other words they hit their goal of 1200 ... 2% compliance ... as requested/required by the IMF guidelines ...

Uniting the secondary market rate with the official rate brings confidence to investors , citizens , International markets .... and a rightful/based on reality status in a basket of currencies ... that can be used for International transactions of all kinds .... present rates of exchange can always be adjusted upwards in relation to other currencies can't they .... imo

Alaq reveals the total money in the banks

April 27, 2018

Baghdad / Student News Agency

The governor of the Central Bank of Iraq, Ali Alalak, the total assets in banks operating in the country is 200 billion dollars.

Al-Alak said in his speech at the meeting of the "partnership in investment" in the forum of investment and reconstruction opportunities in Iraq, "The credit provided by banks amounting to 30 billion dollars and weaken this figure of credit contract," noting that "the central bank ordered banks to modify the organizational structure and the establishment of units Risks, combating money-laundering, financing of terrorism and others ".

He added that "the central bank has developed the system of payments and will launch soon payment by mobile phone," asserting "Last year we launched the common system known as the IBAN for all accounts and Iraq is one of the 47 countries in the world implement this system, which facilitates the process of financial transfer "He said.

He pointed out that "MasterCard will establish a school in Iraq to develop young people to use credit cards and others," adding that "the inflation rate in Iraq does not exceed 2%."

He pointed out that "the coming period will witness a decline in the rate of inflation in Iraq after controlling the exchange rate and cancel the marginal price of the dollar and make it equal to the official price," noting that "this measure by the Central Bank supports the purchasing power of citizens and provides an important indicator for businessmen through the stability of the working environment" .

He pointed out that "the dollar exchange rate is considered at the current stage is the best because it has become an ideal price and gives confidence to investors in maintaining the return of their activities." link

MilitiaMan » April 27th, 2018

Nothing like driving it home Alak! Secondary Market Rate and the Official Rate is telling them the 1:1, effectively can be at any moment now.. imo.. ~MM

Don961 » April 27th, 2018

Central and Visa World Sign Memorandum of Understanding


28/4/2018 12:00 am

In order to provide sound paths for the movement of funds

Baghdad / Al-Sabah

The orientations of the local international partnership have become real and bear great economic feasibility, coupled with the attraction of advanced technology, even the latest in the world, for the advancement of the financial sector, after the major international companies realized the importance of the Iraqi market at the level of the globe.

The first of the local active partnership stations culminated in the signing of a memorandum of understanding between the Central Bank of Iraq and Visa International last weekend.



Governor of the Central Bank Dr. Ali Al-Alaq said that "Visa's entry into the local market means the transfer of knowledge and technology that contribute to the development of the banking sector and to keep abreast of developments in the global financial sector and provide job opportunities for young people."

"The signing of the Memorandum of Understanding represents a step we are seeking to achieve the expansion of electronic payment based on several successes," he said, adding that "the success of this cooperation comes through the availability of infrastructure, which we have taken an important step in its separation.

A great success and has the protection of accurate and are available within all safety operations and is a monthly settlement operations estimated at 14 trillion dinars. "
Chance of success

Al-Aalak pointed out that "through our experience with banks there are potentials able to interact with this project and to achieve a chance of success for this matter, and the Iraqi market pristine provides a wide scope for the use of these products to serve banking operations and the movement of money properly."

"The domestic business sector needs more sophisticated means, expanding its services and facilitating payments," he said. "This is in the central bank's goal of broadening financial coverage, which is of great interest to the central bank."

Director of Visa Middle East Tareq Al-Husseini said: "Our presence comes to achieve a strategic partnership to achieve the ambitions of the Central Bank in the field of smart payments, especially that the payment industry in the evolution of systems and at a lower cost for all segments of society," pointing out that "the world is on the outskirts of the development of the system of transactions A new development of the form of transactions, where there will be 50 billion payment devices by 2020 linked to the Internet serving trade and various processes of life.

He pointed out to "provide the necessary technology in cooperation with the Central Bank, which led us to develop a strategy to support the financial coverage and the success of its goals, according to plans prepared for that at the lowest costs."

Visa has issued more than 3 billion cards and is looking to increase this figure through direct investment to fully guarantee all transactions and information.

Director General of payments at the Central Bank, Subhi Abdul Karim, the return of the Visa company to Iraq, the great achievement, which is calculated to manage the central bank and coordination with banks.


We precede the other

"We are today in front of a new payment map in Iraq and we carry the slogan of 'the other ahead' in terms of the most advanced systems and the latest, starting from the availability of infrastructure available to promote advanced payments," she said, adding that "the central support for competition between developed companies wishing to enter the Iraqi market , And we welcome the entry of Visa into our local market. "

"The Central Bank has a permanent study on the local market and can provide accurate information to the companies concerned," she said.

"The Central Bank has succeeded in laying the necessary lines for the success of the transition to a more advanced stage in the payment structure and the transformation of the community into electronic transactions," said Wadih Khantal, head of the Iraqi Private Banking Association.

He pointed out that "the presence of international companies in Iraq is proof that it has a promising market and benefits and profits for companies and roads beneficiary," noting that "the Association supports international companies and provide all that contributes to the success of this trend Positive."

Economic blocs

The financial expert on the financial Ali Faleh al-Zaidi said: "Iraq is one of the economic blocs important and influential in the economies of the region and the world, and this requires that it has sophisticated payments systems harmonize and the requirements of the future work of the country and size, where the international effort is looking at developed systems dealing with large numbers" .

He pointed out that "there is a great desire by the banking sector to develop the joints of its work to possess the best systems that enable it to compete with regional and international banks." He stressed that "banks now have integrated plans to develop their human resources to enable advanced systems."link

Banks offer their services free of charge on the third day of the Financial Inclusion Week

Economy News Baghdad:



The Al Baghdadi Cultural Center in Al Mutanabbi Street hosted on Friday the third day of the Financial Inclusion Week, which witnessed the participation of 19 banks and financial companies. The participating banks offered their services free of charge to citizens.

The events witnessed a remarkable presence, representing various groups of society and came to identify the services offered by banks and benefit from them .

The employee of the Department of Management in the Ceyhan Bank, Qutayba Abbas, told "Economy News" that "the bank provides various services including bank accounts of all types and cards MasterCard and other," noting that "some state departments have settled their salaries in the bank, an important step in promoting the concept of Financial inclusion ".

"Cihan Bank today distributed 30 free MasterCard cards to the attendees as well as instructions on granting loans to support small and medium enterprises." The bank plans to distribute 1,500 free MasterCard cards to citizens .

He concluded by saying that "all the banking operations we are conducting are linked to the instructions and controls of the Central Bank being the regulatory body on the banks ."

The employee of the Department of Audit and Internal Audit at the Arab Islamic Bank, Ali Safa, told "Economy News" that "financial coverage is concerned to reach all segments of society, and through these events we can achieve this," adding that "the bank was yesterday at the University of Technology To visit the class of students, and today is located in the cultural center of Baghdad to provide banking services, including opening accounts for free .

The account manager of the company Key Card International, Ahmed Alaa, has pointed in his speech to "Economy News", to join the company to the activities of the week of financial inclusion came after the directives of the Central Bank and the Association of Iraqi private banks .

He added that the company will distribute 300 free card cards to citizens during the week, which will contribute to increase their knowledge of the work of electronic cards and what is useful and where to use .

Alaa said that the role of the Association of Iraqi private banks is to increase the familiarity between banks and joint cooperation among them to promote the reality of the banking sector and reach a common goal is to raise the confidence of citizens in Iraqi banks .

"The company focused during the week on the financial coverage on the deployment of electronic payment points sites deployed in Baghdad through a special application of the company," said Raghda Shaker, a sales executive at Al-Amwal .

She pointed out that the company got discounts from the shops that include the devices and published in the application to promote the use of the card and pay the customer to use the electronic card easily. link

Samson » April 27th, 2018

Positive Indicators at IBBC Conference


25th April, 2018

Baroness Fairhead CBE, UK Minister of State for Trade and Export Promotion, addressing the conference

At a major Iraqi business event in London on Tuesday, there was a strong sense that Iraq’s perceived risk profile is improving, and that this is an excellent time to do business in the country.

Nearly 300 delegates attended the Iraq Britain Business Council (IBBC)‘s Spring Conference at the Mansion House, which focused on “building a diversified and modern economy“, with many of those flying in from Iraq specially for the occasion.

This record attendance was just one of the positive indicators in evidence at the event, with speakers pointing to improved security, better relations between the Kurdistan Regional Government (KRG) and the central government in Baghdad, and a growing trend towards up-skilling and capacity building in the local population; here at Iraq Business News, we’ve seen a positive indicator of our own, with a 15 percent increase in our website traffic over the past year.

Closing the conference’s first day, IBBC Managing Director Christophe Michels also drew attention to the growing number of companies joining his organisation, and a much more relaxed atmosphere in Iraq’s major cities.

The second day of the conference also saw a full house at the Royal Overseas League to discuss business opportunities for Iraqi and British small-and medium-sized enterprises (SMEs). LINK

Video: Baghdad hosts 10th Int’l Flower Festival

25th April, 2018



A week-long Flower Festival is being held in the Iraqi capital Baghdad to celebrate the arrival of spring.

Foreign participants say they are speechless with the sight of Baghdad shining in full bloom.

Posting for those who love flowers - we've had the article previously but not the video

VIDEO LINK

LINK
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Ssmith
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