Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.


We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."

Get Daily Updates of the NEWS & GURUS in your EMAIL

Enter your email address:

 "Timing Look Very Good" - Tues. PM KTFA Thoughts/News 12/11/18 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

"Timing Look Very Good" - Tues. PM KTFA Thoughts/News 12/11/18

Go down

 "Timing Look Very Good" - Tues. PM KTFA Thoughts/News 12/11/18 Empty "Timing Look Very Good" - Tues. PM KTFA Thoughts/News 12/11/18

Post by Ssmith on Wed Dec 12, 2018 8:20 am


MilitiaMan » December 11th, 2018

The 2017 article showing who was in Iraq, when they were there and what they were promoting to do. ( see articles below)

Fast forward to yesterday with the same entities as the UST, IMF, WB and Arab Union of Banks in country.. Top it off with Silliman in talks with Iraq to develop trade exchange and the have 50 major investment companies in country now.

Trade Exchange can be product to product or on Stock Exchange... We know they didn't start work yesterday, the process has been underway for years.. Timing is looking so very good imo..

Citi Bank is the facilitator and they are no small entity. Capable of moving large amounts of goods, products and services. .. imo..

Also, working with the Arab Union of Banks is regional. They talk about them back then and again now.. WE have learned the basket may be in the AMF / AAD.. IF that is the way it rolls out.. I like it.. imo ~ MM

"The place where investments and securities are listed on the market. The largest ​trade exchange in the world is the United States Stock Exchange."

Read more: http://www.businessdictionary.com/definition/stock-exchange.html

Walkingstick » December 11th, 2018


Iraqi Banks Are Looking With The US Treasury To Open Relations With Foreign Banks

Jul 19, 2017

Government, private and foreign banks operating in Iraq have discussed with US Treasury officials at the headquarters of the Association of Iraqi Private Banks to open relations with foreign banks, specifically US banks.

The Association of Iraqi Private Banks said in a press statement, “We organized a dialogue session in the presence of Central Bank representative Mazen Sabah, representative of the Union of Arab Banks Khawla al-Asadi, member of the parliamentary economy committee Mahdi al-Hafiz, directors of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister of Economic Affairs at the US Embassy Larry Mimot and representative of the US Treasury in Iraq. ”

She added that “the dialogue session aims to open a new page of relations with foreign banks and specifically with the US banks,” indicating that “a committee formed by the Central Bank Mazen Sabah and agreed to form a delegation including government and private banks to visit the United States and establish strong relationships with correspondent banks Specifically the US. ”

She noted that “the Arab-American banking conference will be held in New York on the sixteenth of October next and Iraq will participate with a large banking delegation,” noting that “there is great confidence between the Association of Iraqi private banks and the US Treasury.”

On the other hand, the Minister for Economic Affairs at the US Embassy, ​​Larry Mimot, said during the meeting, “I have seen the activities carried out by the Association of Iraqi Private Banks, including philanthropy and the development of human capacities working in the banking sector through training, specifically in the file of combating money laundering and financing terrorism.”

He pointed out that “the banking sector is one of the main reasons for the development of the Iraqi economy and we will work with the developers to develop it, and encourage Iraqi banks to open relations with the Association of American private banks.”

He called Memot private banks to “the need to find new ways to lend to small projects because they contribute to the development of the relationship between banks and foreign companies that will lead to the development of relations with foreign banks,” pointing out that “the US government can not impose anything on private banks.”

Meanwhile, the representative of the Central Bank at the meeting, Mazen Sabah, that “Iraq is committed to international standards, specifically in the areas of combating money laundering, risk management, insurance and international accounting and there is a tightening of the central bank on the need to adhere to banks operating in Iraq these standards, , Indicating that “Iraq’s direction during the current stage to open relations with foreign banks and Arab and began to form a committee on this matter.”

​On the other hand, the representative of the Union of Arab Banks, the head of Rafidain Bank, Khawla Asadi, said that “the classification of the new Iraq is in the follow-up area after leaving the gray area,” noting that “Iraq is very much in the fight against money laundering.”
She stressed that “the Arab financial reports indicate that Iraq has an advanced classification of Arab, and we are working to develop relations with foreign correspondent banks.”

In turn, the Chairman of the Board of Directors of the International Development Bank, Ziad Khalaf, in an intervention during the meeting, “There are many Iraqi private banks are ready and comply with international standards and is ready to open accounts with foreign correspondent banks for the ownership of a cadre of excellence and policies and procedures are subject to international standards In addition to integrated services. ”

While, asked the Chairman of the Board of Directors of the Bank of the South Ali Zaidi, is the problem of opening bank accounts in global banks lies with Iraqi banks or foreign banks, specifically the US.

In the meantime, the director of the Bank of Baghdad, “Basem Dahi”, said that “government banks are taking over the banking business in Iraq because of government policies that support at the expense of the banking sector.”



The largest US banks… Praise the performance of Iraqi banks

October 23, 2017

Based on the invitation received by the Governor of the Central Bank of Iraq Ali Mohsen Ismail al-Alak from the UN Security Council to attend a meeting in New York Tuesday, October 17, 2017 with members of the Council in the United Nations building, in a gesture that is the first of its kind where the Ali al-Alak is the first governor of the central bank in the world to attend such meetings.

The meeting dealt with the management of the Central Bank of Iraq in a studied scientific manner and its experience in combating money laundering, terrorism financing and economic development. Members of the UN Security Council commended the work of the Bank in the difficult circumstances of the country.

The US Center for Strategic Studies pointed out that the global media, has played a negative role in the transfer of unclear picture of the Iraqi market during the past years, stressing that there are many positive aspects and opportunities for investors.

The Middle East official in the bank “Citibank”, which is one of the largest banks in the world , noted to the reassurance of US banks to Iraqi banks after the reform steps by the Central Bank of Iraq to combat money laundering and punish offenders and pursue them , and support development.

The Association of Iraqi private banks, said that “an Iraqi bank delegation discussed with a number of banks and financial institutions operating in the United States of America opportunities for cooperation between the two parties,” indicating that “the delegation included 17 private banks and Rafidain and industrial banks and the Executive Director of the Association of Private Banks Ali Tarek and a number of advisers the Association “.

The Iraqi delegation at the American Strategic Studies Center held a meeting with the American side, which included the US Treasury, US banks, the OPEC Foundation and American financial institutions to discuss the Iraqi economy and the challenges facing it. The meeting issued a statement that the global media reflects a negative image of investment in Iraq during the past years where it has significantly affected the entry of foreign companies in the Iraqi market, “noting that it contains a large positive and a great opportunity for investors to work in it.

The Executive Director of the Association of Private Banks Ali Tariq explained the achievements of the Iraqi banking sector, despite the challenges faced during the current period, “and the difficult conditions experienced by the country from the war against terrorism and the decline in world oil prices and the destruction of infrastructure in the provinces that were under the control of ISIS, The reconstruction campaign and the displaced.

He stressed that the work of banks in a continuous development and seeks to reduce the use of cash in life transactions through projects operated by the Association of Iraqi private banks in cooperation with the Central Bank, such as the project of financial inclusion and the settlement of salaries, which is an important projects that the Central Bank to implement in the transfer of cash transactions to the electronic age, and this project is implemented on the basis of a decision of the Council of Ministers at the end of 2016, to be integrated with a set of measures that the Central Bank has succeeded in the past two years to achieve, and includes the project to open accounts for all employees of ministries and government institutions In the banks and the bank will be the guarantor of these salaries, in the framework of enhancing the financial coverage and the dissemination of banking services to all segments of society, which eliminates the risk of theft, loss, fraud and damage upon receipt of salaries.

Tariq said that the first phase has been successfully implemented by settling the salaries of the Central Bank employees through a number of banks selected according to a set of criteria for technical and financial evaluation and services to be provided to the employees and with high transparency. The contract was signed between the Central Bank and the selected banks to take adequate guarantee for the settlement, and issuing bank cards linked to employee accounts.

There are a number of important economic dimensions that will be defined by this project, including the enhancement of financial inclusion and the expansion of financial services, and strengthen the confidence between banks and citizens, which increases the dealings with banks as the proportion of those who have bank accounts in Iraq currently does not exceed 12% of the population.

The project contributes to facilitating the process of paying salaries through banks, which lead to increase the speed of the circulation of money and thus reduce the sharpness of deflation occurring currently due to the financial crisis, and the collection of large amounts for the banks that can be benefited through the strengthening of liquidity, and part of it are put in the channels of credit for productive projects, Business and exit from what is known in economic terms by liquidity trap area.

And Tariq added that “private banks are working hard that its share to be balanced with government banks through deposits, and the enactment of decisions to stimulate government departments to deal with private banks,” stressing that “Iraqi banks implement the law on combating money laundering and terrorism and instructions on compliance and risk management.

The Middle east official in the Citibank Dennis Flannery pointed out “now that the US banks have greater confidence in the Iraqi banks, especially after the positive steps of the Central Bank of Iraq to combat money laundering and punish violators,” and added . “US banks are considering mechanisms of working and cooperation with Iraqi banks and projects which provides a smooth flow of work.”

According to the statement issued, the Association of Iraqi private banks decided “the continuation of regular meetings with the US Treasury and foreign banks, specifically the US with the establishment of an annual forum between Iraqi and US banks.”

Citibank, which is founded in 1812, is one of the largest banks in the world and is the banking arm of Citigroup and operates in more than 100 countries in the world. It is considered with Citigroup the largest bank in terms of deposits in the United States followed by Bank of America, and JPMorgan Chase.


SAMSON said (Post #107)

Al-Hantal: The Association of Banks achieved during 2018 significant achievements at the banking and societal levels

10th December, 2018

The head of the Association of Iraqi Private Banks Wadih al-Hanalal said on Monday that the Association has achieved during the year 2018 great achievements at the banking and community levels, pointing out that the Association seeks in its vision of the future to continue what it started this year

"I am pleased and honored to participate in this important conference, and congratulated the Central Bank and the banking sector on the classification we obtained from the International Financial Action Organization, which transferred Iraq from the region," Al-Hantal said in his speech at the Fourth Annual Conference of the Central Bank of Iraq. "This is the result of the banking procedures taken by the Central Bank in the classification of anti-money laundering and the financing of terrorism, which today is a fundamental issue and important in cooperation between financial institutions and countries

Al-Hantal added, "We can not mention in this regard the role played by the Central Bank of Iraq in many areas in supporting the development of the banking sector and in promoting joint efforts between it and the government and the private sector, for example the project of settling salaries and work on tax reform and the transfer of tax procedures To the stage of electronic governance, so as to achieve control over customs imports and control without Hadrafsad

Al-Hantal added that the Association has made significant achievements in the banking and social sectors during the current year and has taken great strides towards strengthening and strengthening human capabilities through organizing 33 specialized courses, seminars and workshops with 852 trainees until November 11, 2018.

The Association also represented the banking sector in many local forums and international and international conferences in addition to its participation and representation of banks and creating a link with many institutions including the US Treasury, the World Bank, the International Monetary Fund and the Union of Banks. Arab institutions and other actors, in addition to coordination with institutions and government ministries in various configurations

"In the area of ​​agreements and programs of cooperation, the Association succeeded in concluding six memorandums of understanding during 2018, most notably memorandums of understanding with the Association of Banks of Bahrain and the College of Management and Economics of Baghdad University and the Union of Arab Banks and the General Council of Islamic Banks as an authorized agent in Iraq.Central Iraq

Al-Hantal pointed out that "the Association and the banks participated in large exhibitions to promote the concept of financial inclusion, including the Book Fair and the Baghdad International Fair with wide Iraqi, Arab and foreign participation and special exhibitions in universities and markets for the dissemination of banking services in addition to their participation in Iraq reconstruction conferences in Kuwait, Jordan and Baghdad "He said

And the President of the Association of Private Banks, "There is no time to list and review more achievements of the Association in 2018, especially in the field of humanitarian activity and society, and in the prequalification of more than 20 areas of Baghdad within the initiative of Baghdad, Enabling and ensuring coordination with the Central Bank of Iraq to support the Iraqi drama and the establishment of two large ceremonies on the occasion of World Peace Day in Baghdad and Paris, as well as support the displaced along with the campaign of our people led by musician Naseer Shamma

Al-Hantal said, "The Association seeks to achieve a clear and ambitious future vision for the coming year 2019, which will require us to continue in the course of this year, especially in the field of human capacity building for employees in the banking sector and to seek greater opportunities for private banks through dealing with them. The government will continue its efforts to achieve the goals of financial inclusion in accordance with the perspective of the Central Bank of Iraq and in the framework of diligent efforts and strategic plans. Which will restore Iraqi banking relations to normal

"The Association of Iraqi private banks as one of the institutions of civil society and one of the pillars of the private sector will not hesitate to continue the path, which despite the short life achieved great successes LINK

FAB4 ~ F26


US-Iraqi talks to develop trade exchange

9th December, 2018

Deputy Prime Minister for Economic Affairs and Finance Minister Fuad Hussein discussed with US Ambassador to Baghdad Douglas Silliman Sunday bilateral relations and trade exchange.

"Hussein received the US ambassador to Baghdad, Douglas Silliman, and his accompanying delegation," the press office said. "The meeting reviewed the bilateral economic and trade relations between the two countries and discussed the best ways to strengthen and develop them. Serving the interests of the two peoples".

"The two sides also discussed the development of trade exchange and the promotion of economic cooperation, as well as the latest political developments at the local and regional levels," the statement said.

Vice President of the US Chamber of Commerce Steve Lutz on Monday expressed his optimism for the future of Iraq, saying it was the perfect time to support him.

"There is a US initiative to cooperate with Iraq, where there are 100 US initiatives outside of America," he told a conference of the US Chamber of Commerce in Baghdad. "We have initiatives and companies for reconstruction and investment in Iraq to support it."

"This is a historic event, because it is the first time that America has sent countries to invest in companies to support it," he said. "This is the largest work of the US Chamber of Commerce in a country with 50 major investment companies."

"The opportunities exist because we are optimistic about the future of Iraq and it is an ideal time to support it," he said. "In the two and a half years, this is what I wanted to expand investment and enter American businesses in Iraq."

He stressed that "the focus on the bilateral relationship is reflected positively between the two countries, today is the first step in the march to develop the relationship between us," noting that "the delegation includes all aspects and various aspects of agriculture, health, technology and other investment in Iraq."

He explained that "our gathering today is an expression of the stable security environment, where the Iraqi Foreign Ministry provided us with facilities to invest in Iraq," adding that "the obstacles faced by companies are the large controls of Iraq on companies." "Our goal is to explore and invest in Iraq for reconstruction and construction, and we look for different opportunities, not just energy." LINK

Posts : 20038
Join date : 2012-04-10

Back to top Go down

Back to top

Permissions in this forum:
You cannot reply to topics in this forum