"Fully Asset Backed" - Thurs. PM KTFA Thoughts/News 3/7/19

by **Ssmith** on Fri Mar 08, 2019 9:36 am

KTFA

Harley1 » March 7th, 2019

Hello class....Page 1 of your handout....your currency is now fully asset backed according to Basel 3 compliance. You are dismissed.

Samson » March 7th, 2019

The Association of Iraqi Private Banks concludes the course «Capital Planning and Liquidity Planning in accordance with Basel III Decisions»

7th March, 2019

The Iraqi Private Banking Association concluded on Thursday the course "Capital Planning and Liquidity Planning in accordance with the Basel III Decisions " at its headquarters in Baghdad

More than 40 trainees representing a number of government, private and foreign banks participated in the course

The director of the administration and training in the Association of Iraqi private banks, Ahmed Hashemi, during the conclusion of the session, which was attended by "economy News", "The session was attended by a number of employees of government banks, private and foreign," noting that "they became aware of these days the most important updates of the Basel Committee And new concepts of capital according to Basel III

He added that "the Association of Private Banks seeks to develop the work of the banking sector through the training of banking staff by bringing qualified trainers from outside the country LINK

Deputy: the salaries of positions by proxy will stop after June 30

6th March, 2019

MP of the Alliance for Reform and Reconstruction Alaa al-Rubaie, Wednesday, that all salaries of grades of the Agency will stop after the June 30 next year, indicating that it is within the law of the financial budget.

"The budget requires Prime Minister Adel Abdul Mahdi to end the mandate of directors-general and agents up from those who took proxy positions."

He added that "the House of Representatives set the termination of all senior positions administered by the Agency within the time-specified in the law of the budget of 2019," noting that "all those positions can not be given salaries or allowances if they remain in office by proxy." LINK

Citizens call for the reopening of "corruption file" customs zero and accountability of the defaulters

7th March, 2019

A number of citizens, on Thursday, to reopen the "file of corruption" and the accounting of those who fail in the control of customs zero, describing it as "notorious."

Al-Zafra Customs, which is located in Al-Azim district in Diyala province, is known for its "corruption and bribery" of truck owners who transport goods from neighboring countries and who stand in long lines for several days.

"The government should set up a committee to punish and hold accountable the spoilers in the zero-sum file, who took bribes and abused the state," lawyer Akram Karim Mohamed told the newspaper. "The government should not place this file on the shelves."

"The corrupt people in this customs have caused the state to lose billions of dollars by transferring these funds to their pockets with little accountability," Mohammed said. "Ignoring this file and the lack of accountability will push others to steal and take bribes."

For his part, the citizen Mohammed Hamza said in an interview for Alsumaria News, "The state was deficient in not accounting for those corrupt in the customs zero is notorious because they harmed the citizen first, considering that what was taken from the owners of trucks of money is added to the goods."

Hamza pointed out that "the money that was stolen through blackmail and bribery in this control could have been the reconstruction of all areas affected by the organization of a preacher," stressing that "the accountability of corrupt by the government will put an end to prevent others from passing on citizens in the future."

On March 2, 2017, truck drivers stormed the Safra customs office north of Diyala in protest at customs levies and "corruption". Former Prime Minister Haider Abadi, on August 2, 2018, abolished the control of the zero, and opened customs points in the provinces of Kirkuk and Nineveh, according to a document issued by the Office of the Prime Minister.

The document, which was issued by the Prime Minister's Office to the General Customs Authority, stated that "a reference to our letter No. (2331) dated 15 July 2018 and to the Joint Operations Command No. 3148 (V / 3148) / 2018, the Prime Minister opened customs points in the provinces of Kirkuk and Nineveh and the closure of the control of zero. LINK

Analyst: Current emerging market rallies will continue

7th March, 2019

An asset management company official said the prospects for improved earnings growth could contribute to the gains of emerging markets

John Molly, head of emerging markets at RDB.C. Partiers, told Bloomberg on Thursday that the reason for those expectations was the tendency of central banks to lead to monetary easing and the impending decisions on China-US trade negotiations were on the horizon

"Now you can close your eyes and buy assets in emerging markets over the next month,"Molly said

Emerging-market stocks this year marked the best start of a new year since 2012

"The Fed's monetary policy is on hold until Europe is reformed and is likely to be in place within two years, which is very positive," said the official at RDB.C

Molly said he was aware that central bank policies would be facilitated over a long period of time, "which is important to us from the perspective of emerging markets LINK

Brix Bank grants loans of about $ 40 billion by 2021

7th March, 2019

The president of the new BRIX Bank, KV Kamath, said the bank will issue bonds in South Africa and commercial securities in US dollars in the first half of 2019

"Most of the work has been done," Kamath told Xinhua, adding that South Africa's new bonds would be denominated in local currency and would be placed on the Johannesburg Stock Exchange

The Brix Group Bank, which includes Russia, China, South Africa, Brazil and India, approved 30 projects worth $ 8 billion at the end of last year, with between 20 and 25 projects to be approved, including loans ranging between $ 7.5 billion and $ 8 billion this year, Kamath said

The bank will issue loans of about $ 40 billion by the end of 2021, with the aim of financing various projects, the official said

On the other hand, the bank managed to issue bonds worth 3 billion yuan (about 448 million dollars) in the Chinese bond market last week. Bonds have seen more than 3 times the value offered by financial institutions from China and abroad

The new development bank is a multilateral development bank established in 2014 by member states in Brix to support the infrastructure and sustainable development projects in the Brix countries and other emerging economies. It was officially opened in Shanghai in 2015 LINK