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 "This Speaks Volumes"   Kaparoni   12/15/17 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

"This Speaks Volumes" Kaparoni 12/15/17

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 "This Speaks Volumes"   Kaparoni   12/15/17 Empty "This Speaks Volumes" Kaparoni 12/15/17

Post by Ssmith on Sat Dec 16, 2017 9:01 am

Dinar Alert

Iraq Dinar, Iraqi Banks, Iraqi Stock Exchange (ISX) News > Iraq replaces the confidence of the world economically

Iraq replaces the confidence of the world economically

12/12/2017 0:00 Bnfazh of the provisions of Chapter VII

BAGHDAD / Hussein Tgb Security victories paralleled a major economic triumph is access from the provisions of Chapter VII, which cable Iraq and its relations with the world for a long period of time Iraq alienated from the world for decades, where today began the stage of real openness to the world coupled with the confidence of the international community in Iraq.

Economic expert on behalf of Jamil Antoine said that "Iraq has become has international confidence and freedom in financial transactions after the force of the provisions of Chapter VII completely, with the lifting of all restrictions that were imposed, and the amounts released and became the Iraqi banks freedom to handle and opening letters of credit without intermediary" .

All obligations issued Security Council resolution No. 2390 stating the exit of Iraq from Chapter VII of its completion and all obligations regarding the oil - for - food and medicine and the Council adopted unanimously the draft resolution contained in document S 10132017 /, which the United States prepared in consultation with Iraq , and the member states, was given the number 2390 (2017) .oans to welcome the implementation of the arrangements between Iraq and the United Nations in accordance with the resolution (1958) 2010, and confirm the transfer of the remaining funds to the Government of Iraq under resolution (2335 (2016) concludes the Council, in the resolution, that the two parties (Iraq and the United Nations) It has carried out the full implementation of the measures imposed and Vq provisions of Chapter VII under the resolutions above concerning the oil - for - food and medicine.

Spending operations pointed Antoine that "this decision gives the foreign investor and the Iraqi absolute freedom in remittances, which in turn contributes effectively to revive investment, pointing out that we are coming into a reconstruction campaign wide interspersed with spending operations large, and we must have our banking system is consistent and the size of the spending.

" and demanded that the role of banks turn into an investment and have to rely on a secondary currency auction, especially as the international banks offer more than 120 service, and this requires us to get our products to large numbers fit the reality of the investor And have a central leading role in this process.

The focus of the confidence of the competent financial affairs Haider Kadhim al - Baghdadi said: "Iraq today has become the focus of the outside world confidence after the full force of the provisions of Chapter VII, and we have to be as much of this responsibility, especially that Iraq is no longer a traditional country but described as adults natural and human riches, and so it requires plans to promote economic Balmekdrat available in Iraq , the different.

He noted that " the Iraqi banking system has successful experiences and have the experience to qualify him that promotes the banking sector and make it offers advanced products, especially that our banks were able to achieve a breakthrough in their products where they rely on sucking tools Faithful products cover all accessories and cost performance has. "

Central directives between Haider Kadhim al - Baghdadi said , " the large number of the banking system would create positive competition in performance leading to product development and bringing advanced systems to facilitate all banking operations, and have the ability to compete with larger banks branches in the world, and here must adhere to the guidance of the Central Bank of Iraq , which urges the new embrace with developments in the financial sector the world.

" He cautioned that" the Iraqi banking system , which is the focus of economic activity in front of the task of proving existence, through the provision of services required Vq sophisticated systems, especially after he became head to the global banking sector more freedom and broken constraints previously movement of our banks, which makes us work to create a banking sector advanced. "


Kaperoni: We have talked before about creating momentum.

Paxx: That is some great juice Kap. Now we need the currency articles to start going with all this great release from Chapter Seven news.

Kaperoni: Paxx, I still think we are a few months out at best. The CBI still needs to get in compliance with the IMF before we see them move to a float. But this momentum is good and will begin to bring capital into Iraq.

Punisher: This is big stuff!

amounts released and became the Iraqi banks freedom to handle and opening letters of credit without intermediary

Enorrste: It appears that Abadi is more positive about the banking situation in Iraq than he should be. We have seen over the years that the banking system in Iraq was woefully deficient. There have certainly been improvements made, but one factor that has not yet occurred is the movement of dinars from mattresses to banks.

Unless and until that occurs I fear that the economy will not take off and, more importantly, the CBI won't be able to reduce the money supply allowing the value to rise. Foreign investment will help but I doublt that it will be as aggressive initially as Abadi would like to believe.

This is like trying to move an ocean liner. It starts out slowly and, as KAP has noted, gains momentum. But this is not a 100 yard dash. It will take time, months at least, to see any significant change in the investment climate.

That's my 2 cents worth. I wish I were wrong, but I've been in this over 11 years and I can't help but believe that Abadi's hype is overstated.

Justwaiting: TY Enorreste !!! and for you and Kap being 'grounded' . . Yes, easy to become excited, but they have much ahead . Thankfully they seem to be moving ahead, which is encouraging to me . The ocean liner, as mentioned, is a great analogy.

Mike: Good stuff Enorrste. Deposit guarantees are the jumping off point, then the people will slowly begin to engage the banking system.


Kaperoni: Iraq Dinar, Iraqi Banks, Iraqi Stock Exchange (ISX) News > Journalists appeal Rafidain Bank to issue a card [MasterCard] to them

Journalists appeal Rafidain Bank to issue a card [MasterCard] to them

History of edits:: 2017/12/13 11:46

[Oan- Baghdad] appealed to journalists and media Rafidain Bank, to issue card [MasterCard] one of the international electronic payment tools for them.

The journalists told all of Iraq [where] that "Rafidain Bank, and also promises to provide multiple services to different segments of society Nnashidh today issued a card [MasterCard] to the media in order to provide banking facilities for them, especially as they Ktheroa Asfar inside and outside Iraq allow them to this the card in the freedom of financial trading in banks and automated teller windows."

He added , "As this international card, will help them localize their salaries in the civil and government banks, including Rafidain himself that shorten paperwork and avoid the risk of carrying cash."

The Rafidain Bank, announced on 11 October last, for one issued electronic payment tools card [MasterCard] International employees, retirees and citizens and other segments of society.

The Information Office of the Bank said in a statement, a copy of the "bank for the first time instructed its branches to issue electronic payment instruments [MasterCard], which are used both inside and outside Iraq , " noting that "this will be accepted at all ATMs associated with the network MasterCard plus points sale ".

He added that "advances and loans granted to employees be through these cards and localization of their salaries electronically."

Rafidain Bank announced on 8 October last, the development of the banking business in a move to reach the overall banking system like the countries of the civilized world.


kw: This is good news: The Information Office of the Bank said in a statement, a copy of the "bank for the first time instructed its branches to issue electronic payment instruments [MasterCard], which are used both inside and outside Iraq , " noting that "this will be accepted at all ATMs associated with the network MasterCard plus points sales.

Wn: It seems like they have been saying this for a LONG time, maybe in terms of a year or two. The key words (no pun intended) here are

"this will be accepted at all ATMs associated with the network MasterCard plus points sale."

I am waiting until it says "These ARE accepted at all ATMs ........"

justwaiting: wn - agreed !

kw: The reason I am getting happy is the part that said for the first time to issue them...why would they issue them if you were not going to use them soon. They need to be out inorder to use them.

rv2017: thank you kap


Kaperoni: International Monetary Fund (IMF) and World Bank News > World Bank: ready for the advancement of the Iraqi economy

World Bank: ready for the advancement of the Iraqi economy

12-12-2017 08:42 PM It expressed the World Bank, on Wednesday, expressed its readiness to support the Iraqi government 's efforts to reform the country 's economy and the advancement of projects Emaar cities.

This came during a meeting with Prime Minister Haider al - Abadi, the Regional Director of the World Bank, according to the statement of the Prime Minister 's Office.

The Bank Director of the readiness of the World Bank to help and support the Iraqi government 's efforts and plans for economic reform and the promotion of reconstruction projects and the development of Iraqi cities.

For his part, al - Abadi pointed to ' the importance of cooperation with international efforts in support of Iraq, and accelerate the related job creation program steps, and stimulate the economy, and the return of displaced persons to their homes, were also discussed ways of initiatives for stability and reconstruction coordination'.


Kaperoni: This is another very important article. Since the World Bank is who was helping the CBI with currency reform, it appears they are on board now to get it done. If you read previous delete zeros articles the World Bank was clear on the benefits and reason to restructor the currency.

Seeing this article gives me hope that with the help of the WB, the project may start within a month or two. Keep in mind, those same articles stated that it takes a long time ( I am speculating at a few years) to delete the zeros.

Punisher: Yes this speaks volumes coming from the World Bank!

Wn: Thanks Kap

Paxx: Thank you Kap. Sounds good. I am happy if they just start the float or something that signifies the beginning of currency reform.

Enorrste: I agree with KAP that the fact that this is being driven by the World Bank is very significant. In the past we have heard many times that "in the coming period" something may happen, but these were all from within the GOI or CBI. The politics intervened and delays occurred.

However, with the World Bank behind this move it seems that we may finally begin to see some real economic growth in the country. Obviously with that growth there will be a strengthening of the currency which should allow for the float to begin. It could take several months, but at least we have one of the "big boys" behind this, finally.

klplatt81: Abadi being mentioned again with the WB, and in light of coming economic reform is also a political help to Abadi who will soon need support and votes to fend off the wolves in the upcoming election. Malaki comes to mind when I think "wolves".

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