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International Monetary Fund: We are ready to support Iraq Empty International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Thu Sep 24, 2020 4:30 am

International Monetary Fund: We are ready to support Iraq 23210
 
09/23/2020

Economy News _ Baghdad

Central Bank Governor Mustafa Ghaleb Makhaif discussed, on Wednesday, with the International Monetary Fund, providing support and technical advice, and coordinating fiscal and monetary policies and financial control plans.

"The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying. He held a meeting in visual contact with the International Monetary Fund, and during the meeting, topics related to the economic situation in Iraq were discussed."

The statement added, "The readiness and willingness of the fund to assist Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans were discussed."

https://economy-news.net/content.php?id=21962
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International Monetary Fund: We are ready to support Iraq Empty THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 116TH MEETING

Post by claud39 on Fri Sep 25, 2020 11:59 am

I will add another news to you which follows this news my RamblerNash !!

All the middle east even Iraq is going towards the digital system, that means controlling corruption, and exchanging between them with the currencies of their country, and you know what !!

Iraq is one of the member states of the Arab Monetary Fund !!

I add this to you to show a little more research of what is happening in the Middle East !!

You see that I can be nice !!

  But this will be my only post, I will continue my research, and read the news from my side !!

Good day to the members of the forum !!



Claud (Moose)






THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 116TH MEETING




2020-09-25





International Monetary Fund: We are ready to support Iraq Logo-ar








On Thursday, 24 September 2020

The Fund organizes eight meetings "remotely" focusing on global economic developments and priorities for supporting economic recovery from the emerging coronavirus pandemic

The Fund offers seven "remote" training courses for official Arab cadres

The Fund intensifies its consultations with the central and commercial banks in the Arab countries to join the regional institution for clearing and settling Arab payments, "Bana"

The fund issues a number of studies and working papers on current developments at the regional and international levels

 And its implications for Arab economies

The Fund issues a number of guidelines on how central banks and Arab monetary institutions should deal

With a number of issues of importance to Arab countries

 

Today, Thursday, September 24, 2020, "remotely", the 146th meeting of the Board of Executive Directors of the Arab Monetary Fund was held under the chairmanship of Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors. The meeting reviewed the developments of the Fund's activities, and the most important thing it has done in its various fields of work since its last meeting in June 2020, within the framework of its five-year strategy (2020-2025).
 

With regard to the lending activity , the Board was informed of the position of loan requests submitted by member states to benefit from the resources of the Fund, and the swift measures taken by the Fund to respond to these requests. The Board also reviewed the position of the loans that the Fund agreed to provide in response to the requests of its member states, and in support of their efforts to enhance the economic, financial and monetary conditions, and to continue implementing reform programs.
 

On the other hand, the council’s agenda included a review of the development of the fund’s investment activity, including the activity of accepting deposits from central banks and Arab monetary institutions, the performance of investment portfolios, developments in global financial markets, and the measures taken to implement the fund’s strategy in the field of investment.
 

The Council also reviewed the Fund’s initiatives to develop the Arab financial and banking sector and financial markets, which comes at the top of its priorities, as a number of principles and guidelines have been issued, including: “General guidelines on how central banks should deal with the repercussions of natural disasters and climate changes on the banking system. Financial stability, "and a guide" procedures and general guidelines for dealing with supervisory authorities with the repercussions of crises on financial markets in Arab countries. "

 The Board also examined the fund’s activities within the framework of financial inclusion initiatives, developing bond markets in Arab countries, enhancing Arab countries ’capabilities in the use of modern financial technologies, and other initiatives.

The Board also reviewed the Fund’s activities in the field of cooperation with local, regional and international financial organizations and institutions, and the efforts it made within its participation in a number of remote meetings held within the framework of the Presidency of the Kingdom of Saudi Arabia for the G20 in its current session, including:

 the meeting of Finance Ministers and Governors Central banks and their agents, the extraordinary meeting of the Group of Twenty drinkers, and the high-level ministerial conference organized by the group in cooperation with the Paris Forum entitled "Addressing the Covid-19 crisis with the aim of restoring sustainable flows of capital and sustainable financing supportive of development." In addition to the Board’s briefing on the Fund’s participation in the extraordinary meeting of the International Credit Information Committee.
 

Within the framework of its role as the technical secretariat of the Council of Governors of Central Banks and Arab Monetary Institutions, the Council was informed of the organization of the Fund "remotely", for seven meetings that dealt with a set of topics of importance to keep pace with current developments at various levels, including:

The second meeting at the level of deputy governors of central banks and Arab monetary institutions on the future of financial and banking services and the role of central banks in this regard, the forty-fourth session of the Board of Governors of Central Banks and Arab Monetary Institutions, the fifth extraordinary meeting of directors of banking supervision and financial stability, and the second extraordinary meeting of the Arab Committee for Information Credit, to discuss the repercussions of the Coronavirus on the credit information industry, the fifth meeting of directors of financial inclusion departments, payment systems and digital financial infrastructure, the twelfth regular meeting of the Financial Stability Working Group, and the tenth regular meeting of the Arab Credit Information Committee.
 

During the meeting, the progress of work on the project to establish a regional institution for clearing and settlement of Arab payments "structures" was reviewed, including the completion of the approval of the legal framework, the statute of the institution, the agreement with the headquarters country, the procedural rules for the institution’s operations, and the efforts to implement the technical system and its equipment.
 

The Council also reviewed the results of communication with banks operating in the Arab countries as participants in the "Bani" platform, in coordination with central banks and Arab monetary institutions, through workshops organized by the Fund "remotely", during the days of 9 and 27 July 2020, and the focus was on them. To explain how the fees are calculated, and to provide the necessary technical assistance and advice to several participating banks, to ensure their readiness to join the system, and to complete the platform test with a number of them.

 The Council was also informed of the fund’s organization of workshops for banks operating in each country separately, which included a workshop for Iraqi banks on July 13, and for Saudi banks on July 16, bringing the number of workshops allocated to individual countries to ten. The Fund also organized two specialized workshops to discuss data privacy and information security, requirements and due diligence procedures for participants in the platform, on August 13 and September 10, 2020, respectively.
 

Within the framework of its role as the secretariat of the Council of Arab Finance Ministers, the Council was informed of the issues included in the Council’s letters to both the President of the World Bank Group and the Director General of the International Monetary Fund, within the framework of arrangements to attend the upcoming annual meetings of the International Monetary Fund and the World Bank. On the other hand, the Council was informed that the Fund had organized a "remote" meeting for the extraordinary meeting of representatives of the ministries of finance and heads of tax authorities and departments in Arab countries, in cooperation with the International Tax and Investment Center, to discuss the implications of financial measures to contain the Covid-19 pandemic on public budgets and public debt in the long run The average, and the repercussions of the global economic growth in 2020 on Arab economies, in addition to options for reforming tax policies to face economic and financial challenges, in terms of the balance between measures to contain the repercussions of the crisis and the need to support economic recovery.
 

The Board was also informed of the latest issues of the Fund of reports, research, brochures, books, and working papers, since the previous meeting of the Board in June 2020.










Last edited by claud39 on Fri Sep 25, 2020 12:05 pm; edited 1 time in total
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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ISSUES A POLICY PAPER ON "CENTRAL BANK DIGITAL CURRENCIES"

Post by claud39 on Fri Sep 25, 2020 12:02 pm

THE ARAB MONETARY FUND ISSUES A POLICY PAPER ON "CENTRAL BANK DIGITAL CURRENCIES"




2020-09-25





International Monetary Fund: We are ready to support Iraq Logo-ar










The paper discusses

 

The motives of central banks to issue digital currencies

Multiple types have different design methods

Challenges associated with issuing currencies to central banks

Legal and technical requirements

Various initiatives at the regional and international levels

 

Today, the Arab Monetary Fund issued a policy paper on “The Digital Currencies of Central Banks: An Analytical Framework for Central Banks and Arab Monetary Institutions” , prepared by the Working Group on Modern Financial Technologies in Arab Countries, whose technical secretariat is the Fund. The issuance of the paper comes within the framework of the Fund's endeavors to enhance awareness of digital currency issues with the growing interest in them worldwide.

The paper indicated that many central banks around the world are currently moving towards issuing digital currencies. According to a survey conducted by the Bank for International Settlements, nearly 80 percent of the 66 central banks confirmed either either issuing digital currencies or intending to do so in the near future. The most important motives for issuing such currencies include the desire to have an efficient payment system, in addition to employing the opportunities provided by technical innovations, as well as facing the wave of digital currencies launched by the counterpart central banks or the private sector.
 

The paper sheds light on several axes that make up the analytical framework, including the priorities and justifications for issuing digital currencies, the challenges associated with issuing these currencies at central banks, the multiple types of these currencies in various design methods, in addition to the legal and technical requirements, and the role that other technologies may play, such as process applications Open banking and real-time payments, compared to digital currencies.

The paper also reviews the role of central bank digital currencies in domestic payments, cross-border payments, and payments to settle securities transactions. In addition to the various initiatives worldwide, and the latest developments in this regard at the level of Arab countries. The paper also focused on other participants in the cryptocurrency market, namely end-users and private sector companies.  
 
Finally, the paper provides scenarios and recommendations for prioritization to assist supervisory authorities wishing to issue digital currencies. 

It is noteworthy that the regional working group for modern financial technologies launched by the fund in 2018 aims to consult on topics of modern financial technologies, exchange experiences and knowledge about their issues, and crystallize different visions to revitalize and organize them in the Arab countries.  
  
In this context, His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund, indicated that the publications of the regional working group for modern financial technologies contribute to laying the foundations of the stimulating environment for modern financial technologies in the Arab countries and enhancing the capabilities of workers in this field, in addition to To promote knowledge transfer and exchange of experiences and expertise at the regional and international levels.

 His Excellency also stressed that the development of the modern financial technology sector is receiving increasing attention from central banks and Arab monetary institutions, due to its importance in pushing the capabilities of Arab economies to face current challenges and prepare for the recovery phase after overcoming the Corona pandemic crisis, in addition to the role of financial technologies as is known in supporting opportunities for inclusion. Financial, by accelerating the transition to digital financial services.  
 

To view the policy paper, please view the website of the Arab Monetary Fund at this link











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International Monetary Fund: We are ready to support Iraq Empty MEMBER STATES

Post by claud39 on Fri Sep 25, 2020 12:07 pm

MEMBER STATES


International Monetary Fund: We are ready to support Iraq Logo-ar









the Hashemite Kingdom of Jordan
United Arab Emirates
Bahrain
Republic of Tunisia
The People's Democratic Republic of Algeria
Republic of Djibouti
Kingdom of Saudi Arabia
Republic of Sudan
Syrian Arab Republic
Federal Republic of Somalia

The Republic of Iraq

Sultanate of Oman
State of Palestine
Qatar
United Republic of Comoros
Kuwait
Lebanon Republic
State of Libya
The Egyptian Arabic Republic
The Kingdom of Morocco
The Islamic Republic of Mauritania
Republic of Yemen




https://www.amf.org.ae/ar/page/%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%A3%D8%B9%D8%B6%D8%A7%D8%A1
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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Sat Sep 26, 2020 10:02 am

@claud39 wrote:I will add another news to you which follows this news my RamblerNash !!

All the middle east even Iraq is going towards the digital system, that means controlling corruption, and exchanging between them with the currencies of their country, and you know what !!

Iraq is one of the member states of the Arab Monetary Fund !!

I add this to you to show a little more research of what is happening in the Middle East !!

You see that I can be nice !!

  But this will be my only post, I will continue my research, and read the news from my side !!

Good day to the members of the forum !!



Claud (Moose)






THE BOARD OF DIRECTORS OF THE ARAB MONETARY FUND HOLDS ITS 116TH MEETING




2020-09-25





International Monetary Fund: We are ready to support Iraq Logo-ar








On Thursday, 24 September 2020

The Fund organizes eight meetings "remotely" focusing on global economic developments and priorities for supporting economic recovery from the emerging coronavirus pandemic

The Fund offers seven "remote" training courses for official Arab cadres

The Fund intensifies its consultations with the central and commercial banks in the Arab countries to join the regional institution for clearing and settling Arab payments, "Bana"

The fund issues a number of studies and working papers on current developments at the regional and international levels

 And its implications for Arab economies

The Fund issues a number of guidelines on how central banks and Arab monetary institutions should deal

With a number of issues of importance to Arab countries

 

Today, Thursday, September 24, 2020, "remotely", the 146th meeting of the Board of Executive Directors of the Arab Monetary Fund was held under the chairmanship of Dr. Abdul Rahman bin Abdullah Al-Hamidi, Director General and Chairman of the Board of Directors. The meeting reviewed the developments of the Fund's activities, and the most important thing it has done in its various fields of work since its last meeting in June 2020, within the framework of its five-year strategy (2020-2025).
 

With regard to the lending activity , the Board was informed of the position of loan requests submitted by member states to benefit from the resources of the Fund, and the swift measures taken by the Fund to respond to these requests. The Board also reviewed the position of the loans that the Fund agreed to provide in response to the requests of its member states, and in support of their efforts to enhance the economic, financial and monetary conditions, and to continue implementing reform programs.
 

On the other hand, the council’s agenda included a review of the development of the fund’s investment activity, including the activity of accepting deposits from central banks and Arab monetary institutions, the performance of investment portfolios, developments in global financial markets, and the measures taken to implement the fund’s strategy in the field of investment.
 

The Council also reviewed the Fund’s initiatives to develop the Arab financial and banking sector and financial markets, which comes at the top of its priorities, as a number of principles and guidelines have been issued, including: “General guidelines on how central banks should deal with the repercussions of natural disasters and climate changes on the banking system. Financial stability, "and a guide" procedures and general guidelines for dealing with supervisory authorities with the repercussions of crises on financial markets in Arab countries. "
 The Board also examined the fund’s activities within the framework of financial inclusion initiatives, developing bond markets in Arab countries, enhancing Arab countries ’capabilities in the use of modern financial technologies, and other initiatives.
The Board also reviewed the Fund’s activities in the field of cooperation with local, regional and international financial organizations and institutions, and the efforts it made within its participation in a number of remote meetings held within the framework of the Presidency of the Kingdom of Saudi Arabia for the G20 in its current session, including:
 the meeting of Finance Ministers and Governors Central banks and their agents, the extraordinary meeting of the Group of Twenty drinkers, and the high-level ministerial conference organized by the group in cooperation with the Paris Forum entitled "Addressing the Covid-19 crisis with the aim of restoring sustainable flows of capital and sustainable financing supportive of development." In addition to the Board’s briefing on the Fund’s participation in the extraordinary meeting of the International Credit Information Committee.
 

Within the framework of its role as the technical secretariat of the Council of Governors of Central Banks and Arab Monetary Institutions, the Council was informed of the organization of the Fund "remotely", for seven meetings that dealt with a set of topics of importance to keep pace with current developments at various levels, including:
The second meeting at the level of deputy governors of central banks and Arab monetary institutions on the future of financial and banking services and the role of central banks in this regard, the forty-fourth session of the Board of Governors of Central Banks and Arab Monetary Institutions, the fifth extraordinary meeting of directors of banking supervision and financial stability, and the second extraordinary meeting of the Arab Committee for Information Credit, to discuss the repercussions of the Coronavirus on the credit information industry, the fifth meeting of directors of financial inclusion departments, payment systems and digital financial infrastructure, the twelfth regular meeting of the Financial Stability Working Group, and the tenth regular meeting of the Arab Credit Information Committee.
 

During the meeting, the progress of work on the project to establish a regional institution for clearing and settlement of Arab payments "structures" was reviewed, including the completion of the approval of the legal framework, the statute of the institution, the agreement with the headquarters country, the procedural rules for the institution’s operations, and the efforts to implement the technical system and its equipment.
 

The Council also reviewed the results of communication with banks operating in the Arab countries as participants in the "Bani" platform, in coordination with central banks and Arab monetary institutions, through workshops organized by the Fund "remotely", during the days of 9 and 27 July 2020, and the focus was on them. To explain how the fees are calculated, and to provide the necessary technical assistance and advice to several participating banks, to ensure their readiness to join the system, and to complete the platform test with a number of them.
 The Council was also informed of the fund’s organization of workshops for banks operating in each country separately, which included a workshop for Iraqi banks on July 13, and for Saudi banks on July 16, bringing the number of workshops allocated to individual countries to ten. The Fund also organized two specialized workshops to discuss data privacy and information security, requirements and due diligence procedures for participants in the platform, on August 13 and September 10, 2020, respectively.
 

Within the framework of its role as the secretariat of the Council of Arab Finance Ministers, the Council was informed of the issues included in the Council’s letters to both the President of the World Bank Group and the Director General of the International Monetary Fund, within the framework of arrangements to attend the upcoming annual meetings of the International Monetary Fund and the World Bank. On the other hand, the Council was informed that the Fund had organized a "remote" meeting for the extraordinary meeting of representatives of the ministries of finance and heads of tax authorities and departments in Arab countries, in cooperation with the International Tax and Investment Center, to discuss the implications of financial measures to contain the Covid-19 pandemic on public budgets and public debt in the long run The average, and the repercussions of the global economic growth in 2020 on Arab economies, in addition to options for reforming tax policies to face economic and financial challenges, in terms of the balance between measures to contain the repercussions of the crisis and the need to support economic recovery.
 

The Board was also informed of the latest issues of the Fund of reports, research, brochures, books, and working papers, since the previous meeting of the Board in June 2020.








@claud39 wrote:All the middle east even Iraq is going towards the digital system, that means controlling corruption, and exchanging between them with the currencies of their country, and you know what !!

Have you figured out yet how they are going to work out all the different exchange rates each country has and who is going to decide on what they will be? LOL



@claud39 wrote:You see that I can be nice !!

Isn't that an admission that you were doing something else?



From The Article wrote:the meeting of Finance Ministers and Governors Central banks and their agents, the extraordinary meeting of the Group of Twenty drinkers,

As you can see, translated articles don't work so well.
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International Monetary Fund: We are ready to support Iraq Empty The Central Bank participates in two Arab meetings for the Arab Monetary Fund and financing Arab trade

Post by claud39 on Tue Sep 29, 2020 9:59 am

The Central Bank participates in two Arab meetings for the Arab Monetary Fund and financing Arab trade


09/29/2020



International Monetary Fund: We are ready to support Iraq 23282







Economy News _ Baghdad



The Central Bank of Iraq participated, on Tuesday, in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Finance Program, separately.

A central bank statement received by Al-Eqtisad News stated that during the meeting with the member states of the Arab Monetary Fund’s board of directors, the bank discussed issues supporting joint Arab action, most notably the “Arab Payments and Clearing System“ built ”and its importance in facilitating inter-Arab payments and financial transfers.

The statement added that the meetings of the Board of Directors of the Arab Trade Finance Program included discussions on mechanisms to re-prioritize funding for the national agencies organizing the program and in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.





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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ISSUES THE TENTH ISSUE OF THE "ARAB CAPITAL MARKETS WEEKLY BULLETIN"

Post by claud39 on Tue Sep 29, 2020 10:08 am

THE ARAB MONETARY FUND ISSUES THE TENTH ISSUE OF THE "ARAB CAPITAL MARKETS WEEKLY BULLETIN"
2020-09-29



International Monetary Fund: We are ready to support Iraq Logo-ar








The Arab Monetary Fund’s Composite Index of Arab Financial Markets has declined, reflecting the decline in performance indicators in twelve Arab stock markets affected by the decline in the leading stocks




As part of its efforts to develop the financial sector in the Arab countries, the Arab Monetary Fund publishes the “Weekly Bulletin of Arab Financial Markets” that monitors the most important developments in the Arab financial markets based on the Arab Monetary Fund's database of Arab financial markets, and on the data issued by the Arab stock exchanges. By the end of the fourth week of September ending on September 24, 2020, the tenth issue of the bulletin indicated that the Arab Monetary Fund Composite Index for Arab money markets recorded a decrease of 0.15 percent (equivalent to 0.61 points), to 412.43 points, compared to 413.04 points Registered at the end of Thursday, 17 September 2020.



The performance indicators of a number of Arab financial markets recorded a decline at the end of the trading week ending on September 24, thus losing part of the gains achieved during the week ending on September 17th, due to the decline in the leading stocks recorded in a number of these markets in the sectors of banking, financial services, industry and energy.



In this context, twelve Arab stock exchanges recorded a decline during the past week, as the Dubai Stock Exchange witnessed a decline in its performance index by 2.96 percent, followed by the exchanges of Qatar, Casablanca, Palestine, Egypt and Saudi Arabia, whose performance indicators recorded a decrease of 1.55, 1.30, 1.28 and 1 26 and 1.22 percent, respectively. The indices of Iraq, Tunisia, Abu Dhabi and Muscat also recorded a decrease of about 1.17, 1.04, 0.97, and 0.57 percent, respectively. While the Damascus and Amman Stock Exchanges recorded a decrease of less than half percent.



The value of transactions in the Arab financial markets decreased during the week by nearly 40.2% by the end of last week. In the forefront of the stock exchanges that recorded a decline during the week, the Palestine Exchange, whose trading value recorded a decrease of 98.72 percent, while the stock exchanges of Abu Dhabi, Dubai, Saudi Arabia and Egypt witnessed a decline of 71.97, 44.86, 42.40 and 41 percent, respectively. The Amman and Tunis Stock Exchanges recorded a decrease of 20.45% and 10.36%, respectively. Trading volume also recorded a decrease in ten Arab stock exchanges, topped by the stock exchanges of Palestine, Beirut, Abu Dhabi and Saudi Arabia, whose indices recorded a decrease in rates ranging between 41.6 and 98.2 percent, respectively.



On the other hand, the market value of Arab financial markets decreased by 0.35 percent at the end of last week's trading, reflecting the decline recorded in the market value of nine Arab stock exchanges at the end of the week, as the exchanges of Qatar, Dubai, Abu Dhabi, Casablanca and Palestine recorded market value declines by about 2.17 and 2 15, 1.97, 1.28 and 1.10 percent, respectively. The financial markets in Saudi Arabia, Beirut, Damascus and Egypt also recorded a decline of less than one percent. On the other hand, the market value of four Arab bourses increased, led by the Kuwait Stock Exchange, which recorded an increase of 2.97%, reflecting the increase in confidence and the return of positive spirit among investors.



With regard to the most important developments in the Arab financial markets during the previous week, and within the framework of Arab stock exchanges' keenness to consolidate the link between investors and companies listed on the markets, the Dubai Financial Market and Nasdaq Dubai are currently working on implementing a comprehensive program of excellence in the field of investor relations to encourage listed companies Strengthening its relationships with shareholders. In the same context, the Kuwait Stock Exchange adopts many of the measures it took in general during the period of the Corona pandemic, to support investor relations, and reduce the size of the repercussions resulting from the pandemic on the investors in the stock exchange .



In order to provide best practices in the field of modern technologies that serve the development of markets, the Amman Stock Exchange held remote training workshops for financial intermediation companies to train on the new electronic trading system (OPTIQ), which is expected to be ready before the end of this year, which is characterized by its keeping pace with the latest developments On the level of electronic trading systems in terms of efficiency and speed in receiving and processing purchase and selling orders, the ability to trade in new financial instruments, and to link it effectively with the systems and applications related to the trading system .



In the same context, the Qatar Stock Exchange is preparing, through a joint initiative with the Qatar Financial Markets Authority, to implement a new electronic disclosure system based on the ( XBRL ) methodology under the name (Disclosure) platform, as this system will be used to disclose financial statements (quarterly, semi-annual and annual) and data. Non-financial such as corporate news, and other disclosure data required of listed companies, which the Qatar Stock Exchange expects to be compulsorily applied to listed companies to announce financial and non-financial disclosures as of the third quarter of 2020.



In this context, it is noteworthy that the Arab Monetary Fund has been concerned since 1995 with monitoring the development of the periodic performance of Arab stock exchanges by calculating a composite index that measures the development of the performance of the Arab financial markets collectively, weighted by the market value of these exchanges, and the index currently includes seventeen Arab financial markets .



The full version of the issue is available at this link








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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND LAUNCHES THE THIRD EDITION OF ITS "A WINDOW ON THE PATH TO REFORM REPORT: TAX REFORMS IN THE ARAB COUNTRIES"

Post by claud39 on Tue Sep 29, 2020 10:11 am

THE ARAB MONETARY FUND LAUNCHES THE THIRD EDITION OF ITS "A WINDOW ON THE PATH TO REFORM REPORT: TAX REFORMS IN THE ARAB COUNTRIES"
2020-09-29



International Monetary Fund: We are ready to support Iraq Logo-ar










Tax reform is gaining increasing importance in the Arab countries in light of the spread of the new Corona virus pandemic and the resulting trend of debt levels towards rise and tight fiscal space

Tax reform efforts in the Arab countries focus on diversifying sources of revenue, expanding the tax base, and moving towards digitalizing the tax system

Reconsidering exemptions and legislative amendments have contributed to an increase in tax revenues in Egypt at rates exceeding 20 percent, and the reforms implemented in Saudi Arabia have enabled financiers to submit all declarations electronically.

The adoption of the electronic invoicing system helped combat tax evasion and increase levels of collection in the UAE, and contributed to the inclusiveness of the informal sector in the tax system in Jordan.




 

In the context of its efforts to support decision-makers and economic policy-makers in the Arab countries, the Arab Monetary Fund has decided the importance of issuing a "Window on the Path of Reform" report as a specialized report that deals in detail and analysis with one of the axes of the economic reform programs that are being implemented in Arab countries, in order to present the experiences of those countries What are the policies and procedures that are being implemented, the existing challenges, and lessons learned from the reality of similar reform programs implemented globally ? The report aims to support the efforts of member states in implementing the various economic reform policies and programs that are being implemented, including reforms to civil service systems, social safety nets, pension funds, labor and product markets, and enhancing competitiveness.



The topic of "Tax reforms in the Arab countries" was chosen as the focus of the report for the year 2020, given the importance of taxes as an effective tool that has a major impact on levels of economic growth and income distribution. Despite its importance as one of the most important macroeconomic policy tools, World Bank statistics indicate weak levels of tax revenues at the level of Arab countries as a group, as the ratio of tax revenues to GDP did not exceed the level of 10 percent of GDP in 2019, compared to the global average of 15 percent.



Tax reform is also gaining special importance in recent times in light of the spread of the new Corona virus and the resulting tendency in public debt levels to rise, and the narrow financial space available for a number of Arab countries to support economic recovery from the pandemic.



Based on the foregoing, the report pointed to the multiplicity of the motives for tax reform in Arab countries, although they differ according to the economic structures of these countries and their tax systems. Debt or development aid, as well as reducing dependence on oil revenues, which are characterized by a large degree of volatility.



The report also emphasized that the tax reforms implemented in the Arab countries focused on expanding the tax base, combating tax evasion, increasing tax collection and compliance, and improving the levels of efficiency and fairness of tax systems. In addition to the recent trend of tax reforms towards the digitization of taxes and the inclusiveness of the tax system for establishments operating in the informal sector.



In light of the above, the report aimed to examine the experiences of Arab countries in the field of tax reform, as the report dealt with an analysis of the motives of tax reforms in the Arab countries and the general features of the Arab tax structures, in addition to the scope and policies of tax reforms, and a number of selected Arab experiences. In the field of tax reform, based on the results of a questionnaire prepared by the Arab Monetary Fund for this purpose and sent to the concerned authorities in the member states to complete it. 



The report referred to the gains of tax reform in a number of Arab countries, where the reforms implemented in Saudi Arabia, for example, have enabled taxpayers to submit all declarations electronically. The review of tax exemptions and legislative amendments that were implemented in Egypt also helped increase the tax collection rates exceeding 20 percent. The adoption of the electronic invoicing system contributed to combating tax evasion and increasing the levels of tax collection in the UAE, and the inclusion of the informal sector in the tax system in Jordan.
 

The full version of the report is available at this link











https://www.amf.org.ae/ar/content/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D9%8F%D8%B7%D9%84%D9%82-%D8%A7%D9%84%D8%A5%D8%B5%D8%AF%D8%A7%D8%B1-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB-%D9%85%D9%86-%D8%AA%D9%82%D8%B1%D9%8A%D8%B1-%D9%86%D8%A7%D9%81%D8%B0%D8%A9-%D8%B9%D9%84%D9%89-%D8%B7%D8%B1%D9%8A%D9%82-%D8%A7%D9%84%D8%A5%D8%B5%D9%84%D8%A7%D8%AD-%D8%A7%D9%84%D8%A5%D8%B5%D9%84%D8%A7%D8%AD%D8%A7%D8%AA-%D8%A7%D9%84%D8%B6%D8%B1%D9%8A%D8%A8%D9%8A%D8%A9
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International Monetary Fund: We are ready to support Iraq Empty He called for intensifying efforts ... The Central Bank participates in two Arab meetings

Post by claud39 on Wed Sep 30, 2020 10:39 am

He called for intensifying efforts ... The Central Bank participates in two Arab meetings






September 29, 2020







International Monetary Fund: We are ready to support Iraq News-160137434685199












The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program.
Where the bank discussed with members of the Fund Board states of the Arab Monetary topics to support the joint Arab action , most notably the " payments system of the Arab and clearing " structures "and its importance in facilitating payments and financial transfers of inter - Arab."
 

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.
 

The Central Bank of Iraq
information Office 
2020/9/29






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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ORGANIZES THE SIXTH EXTRAORDINARY MEETING "REMOTELY" FOR DIRECTORS OF FINANCIAL INCLUSION DEPARTMENTS, PAYMENT SYSTEMS AND FINANCIAL INFRASTRUCTURE IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VI

Post by claud39 on Wed Sep 30, 2020 12:08 pm

THE ARAB MONETARY FUND ORGANIZES THE SIXTH EXTRAORDINARY MEETING "REMOTELY" FOR DIRECTORS OF FINANCIAL INCLUSION DEPARTMENTS, PAYMENT SYSTEMS AND FINANCIAL INFRASTRUCTURE IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL SERVICES




2020-09-30





International Monetary Fund: We are ready to support Iraq Logo-ar








Tuesday 29 September 2020

15:00 to 17:00 Abu Dhabi time

Those gathered to discuss:

Post-crisis recovery requirements

Embark on digital financial transformation to leverage opportunities to support sound financial infrastructure systems and promote the transition to digital financial services

Ways to enhance access to services of non-bank financial institutions

 

Today, Tuesday, September 29, 2020, the Arab Monetary Fund is organizing the sixth extraordinary "remote" meeting to discuss the implications of the Corona pandemic on financial services. The meeting will be attended by directors of financial inclusion departments, payment systems and digital financial infrastructure of central banks and Arab monetary institutions, in addition to the Arab Monetary Fund, which is responsible for the technical secretariat of the committees and working groups emanating from the Board of Governors of Central Banks and Arab Monetary Institutions. 


In addition to the General Secretariat of the Cooperation Council for the Arab States of the Gulf, the meeting will be attended by representatives of regional and international institutions, including: the International Monetary Fund, the World Bank, the European Central Bank, the Central Bank of France, the German Development Agency, the Global Alliance for Financial Inclusion, the International Finance Corporation and the Islamic Development Bank, The European Investment Bank, the French Development Agency, and the Consultative Group to Help the Poor ( CGAP), The United Nations Capital Development Fund, the International Mobile Network Association, the Euroclear Foundation, the Bill and Melinda Gates Foundation, and a number of regional and global universities.
 

These meetings will continue to be held, to continue dialogue and exchange experiences on ways to accelerate the transition to digital financial services and electronic payments applications, and to enhance efforts regarding individuals and companies' access to financial and banking products and services, which will be positively reflected on the levels of financial inclusion in the Arab countries.
 

On the other hand, the meeting will discuss the requirements of the post-crisis recovery phase, enhancing opportunities for digital financial transformation and supporting innovations in order to enhance digital financial inclusion, as modern financial technologies enhance access to formal financial services. Discussions will also touch on how to enhance mechanisms for providing liquidity to finance productive sectors, especially micro, small and medium enterprises, in addition to discussing how to enhance community awareness in dealing with non-bank financial institutions, and ways to enhance access to their services, by developing innovative products that meet the needs of customers. With the financial sector.
 

On this occasion, His Excellency the Director General, Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abd al-Rahman bin Abdullah Al-Hamidi expressed his hope that the meeting would contribute to strengthening dialogue and exchange experiences on developing policies and tools related to improving financial inclusion in Arab countries, in order to reduce the effects of the pandemic on services Finance, and discussing opportunities and challenges to promote digital financial transformation in the Arab countries using modern technologies. 


His Excellency noted that enhancing financial inclusion in Arab countries is considered one of the priorities of central banks and Arab monetary institutions, given what financial inclusion can contribute to enhancing the capabilities of Arab economies to face current challenges and prepare for the post-crisis recovery phase. His Excellency renewed his wishes that our dear Arab countries and the countries of the world will be saved from this epidemic, and that we will quickly overcome the repercussions of this crisis.  





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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE "REMOTE" WORKSHOPS WITH ARAB BANKS TO JOIN THE "BANI" ARAB PAYMENTS PLATFORM. A SEMINAR ON THE FRAMEWORK FOR THE COMPLIANCE OF THE "BANI" PLATFORM OPERATIONS WITH THE REQUIREMENTS OF COMBATING MONEY LAU

Post by claud39 on Wed Sep 30, 2020 1:05 pm

THE ARAB MONETARY FUND CONTINUES TO HOLD INTERACTIVE "REMOTE" WORKSHOPS WITH ARAB BANKS TO JOIN THE "BANI" ARAB PAYMENTS PLATFORM. A SEMINAR ON THE FRAMEWORK FOR THE COMPLIANCE OF THE "BANI" PLATFORM OPERATIONS WITH THE REQUIREMENTS OF COMBATING MONEY LAUNDERING AND TERRORIST FINANCING.




2020-09-30





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Wide participation of Arab and international banks

 

Tuesday 29 September 2020

 

The Arab Monetary Fund continues to hold meetings and workshops directed to banks operating in the Arab countries, as part of the launch of the "Bani" platform for Arab payments of the regional institution for clearing and settling Arab payments owned by the fund, as the fund intensifies its efforts in following up the procedures for the inclusion of central and commercial banks in the platform. In this context, the Arab Monetary Fund is organizing today, Tuesday, September 29th, the thirteenth "remote" workshop to join banks (the seventeenth in the series of communication workshops with banks), in which senior officials from more than 120 banks operating in The Arab region and beyond, which showed interest to join the platform in the early stages of its launch.  



The workshop represents a panel discussion dealing with the enhanced capabilities of the "Bani" platform to ensure that its operations comply with the relevant international principles and standards, foremost of which are the standards related to combating money laundering and terrorist financing operations, in addition to compliance with the regulations for the currencies used in the platform. The workshop specifically addresses the compliance framework that was previously completed in consultation with the participating central and commercial banks. It also includes an explanation of the procedural rules for the platform's work in terms of monitoring and detecting suspicious payment transactions that include money laundering, terrorist financing and fraud.



This workshop, which is directed to all banks in the Arab region, is the thirteenth stop in a series of focused workshops, dealing with several strategic topics, organized over several weeks in digital form, remotely, given the current situation. The holding of this workshop comes within the framework of the keenness of those in charge of the "Bani" Arab Payments platform to comply with the relevant international standards. The workshop also reflects the growing interest of the supervisory authorities and banks in assuring the safety and integrity of cross-border financial transactions.



It should be noted that the "Bani" platform represents a multi-currency payment platform that provides clearing and settlement services in Arab and international currencies that meet eligibility requirements for clearing and settling inter-Arab financial transactions, as well as financial transactions between Arab countries and the main commercial partners of Arab countries.



 The platform aims to enable financial and banking institutions in the Arab region, including central and commercial banks, to send and receive intermittent payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and high efficiency. The Bani platform offers participants modern payment solutions that comply with international standards, principles and international compliance requirements. The platform contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with the trading partners of Arab countries on various continents.



It is mentioned that the platform is available to all banks that meet the criteria and conditions for participation in it, foremost among which are the standards and procedures for compliance aspects.



On this occasion, His Excellency the Director General, Chairman of the Board of Directors of the Arab Monetary Fund, Dr. Abdulrahman bin Abdullah Al-Hamidi, noted the great importance attached to aspects of compliance, compliance and risk management in building the platform, especially those related to combating money laundering and terrorist financing operations, in order to enhance the efficiency and safety of the platform and its operations. He also expressed his happiness for the continuation of the workshops to strengthen the partnership with banks, financial and banking institutions. His Excellency also renewed his sincere appreciation and gratitude to their Excellencies the governors of central banks and Arab monetary institutions for their support for the Fund's efforts in launching the platform.












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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Thu Oct 01, 2020 5:25 am

@claud39 wrote:MEMBER STATES


International Monetary Fund: We are ready to support Iraq Logo-ar









the Hashemite Kingdom of Jordan
United Arab Emirates
Bahrain
Republic of Tunisia
The People's Democratic Republic of Algeria
Republic of Djibouti
Kingdom of Saudi Arabia
Republic of Sudan
Syrian Arab Republic
Federal Republic of Somalia

The Republic of Iraq







Sultanate of Oman
State of Palestine
Qatar
United Republic of Comoros
Kuwait
Lebanon Republic
State of Libya
The Egyptian Arabic Republic
The Kingdom of Morocco
The Islamic Republic of Mauritania
Republic of Yemen




https://www.amf.org.ae/ar/page/%D8%A7%D9%84%D8%AF%D9%88%D9%84-%D8%A7%D9%84%D8%A3%D8%B9%D8%B6%D8%A7%D8%A1

ARAB ACCOUNTING DINAR EXCHANGE RATES
The Arab Accounting Dinar (AAD) is the official and reporting currency of the Arab Monetary Fund. Its exchange rates are fixed by the Arab Monetary Fund (AMF) equivalent to three units of Special Drawing Rights (SDR) as determined by the International Monetary Fund (IMF).


https://www.amf.org.ae/en/page/arab-accounting-dinar-exchange-rates


omg


https://www.dinardaily.net/t94913p50-opinion-on-the-subject-of-dinars#370692
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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ORGANIZES THE TWENTIETH PERIODIC MEETING "REMOTELY" OF THE ARAB COMMITTEE FOR PAYMENT AND SETTLEMENT SYSTEMS ON WEDNESDAY AND THURSDAY 30 SEPTEMBER - 1 OCTOBER 2020

Post by claud39 on Thu Oct 01, 2020 1:03 pm

THE ARAB MONETARY FUND ORGANIZES THE TWENTIETH PERIODIC MEETING "REMOTELY" OF THE ARAB COMMITTEE FOR PAYMENT AND SETTLEMENT SYSTEMS ON WEDNESDAY AND THURSDAY 30 SEPTEMBER - 1 OCTOBER 2020




International Monetary Fund: We are ready to support Iraq Logo-ar







2020-10-01






Recent trends in payment systems and financial infrastructure

G20 priorities in terms of cross-border payment arrangements and the safety of remittances

 The use of big data and blockchain applications in the payment and settlement processes

Improving crisis management in payment systems in light of technical developments

Opportunities for digital banking development

Ways to apply the digital financial transformation framework in the Arab countries

Take advantage of the innovative services of the "Bani" Arab Payments platform



 

Today, Wednesday, the twenty-first regular meeting of the Arab Committee for Payment and Settlement Systems, which is held remotely, opens in light of the emerging Corona virus crisis. The committee includes directors of the payment and settlement systems departments and the financial infrastructure of central banks and Arab monetary institutions. 



The meeting of the committee will also be attended by representatives from international central banks and regional and international institutions, including: the World Bank Group, the International Monetary Fund, the Bank for International Settlements, the International Committee for Payment Systems and Financial Infrastructure, the European Central Bank, the Bank of France, the German Federal Authority for Banking Supervision, the Euroclear Foundation, The German Development Agency, the Swift Association, and the Bill & Melind Gates Foundation. The meeting will also be attended by the Union of Arab Banks and the Union of Arab Securities Commissions.



The committee aims to contribute to the development of payment and settlement systems in the Arab countries, and to enhance coordination and cooperation and exchange experiences and expertise in this regard between central banks and Arab monetary institutions. The Arab Monetary Fund, within the framework of its role as the technical secretariat of the Board of Governors of Central Banks and Arab Monetary Institutions, is the committee's secretariat. His duties in this regard are based on preparing the agenda, contributing to the preparation of studies and reports issued by the committee, and following up on its recommendations.



In its two-day meeting, the committee will address a number of important issues, most notably the discussion of the latest developments and recent trends in the field of payment systems and financial infrastructure, especially in light of the priorities of the G20 in terms of cross-border payment arrangements and the safety of financial transfers. 



In this regard, the members of the committee will be able to review the latest developments in the services of the "Bani" Arab Payments platform affiliated to the Regional Corporation for Clearing and Settlement of Arab Payments, and discuss the role of central banks and Arab monetary institutions in encouraging the use of the innovative services provided by the platform to the financial and banking sector in Arab countries.   



The committee also discusses the arrangements and methodologies of  stablecoins associated with assets against other digital currencies and the reflection of their uses in payment systems, in addition to recent trends in the use of big data, and blockchain applications in payment and settlement processes. Discussing issues of improving crisis management in payment systems in light of technical developments will also receive the Committee's attention at this meeting. The committee will also discuss opportunities for the development of digital banks, in addition to discussing requirements for developing operational controls for electronic payment channels, in order to enhance the safety and efficiency of payment systems and financial infrastructure in the Arab countries.



On the other hand, the committee’s discussions will touch on the framework for digital financial transformation in the Arab countries issued by the Arab Monetary Fund within the framework of the Financial Inclusion Initiative for the Arab Region and mechanisms for cooperation with central banks and Arab monetary institutions for successful implementation.   



On this occasion, His Excellency the Director General, Chairman of the Board, of the Arab Monetary Fund, noted the great development in the topics and issues discussed by the committee and their importance for Arab countries in enhancing the safety and efficiency of financial transactions and the flow of payments and transfers.



 His Excellency also expressed his happiness with the wide participation of the relevant regional and international institutions, which enhances the importance of the committee as a platform for dialogue and exchange of experiences and expertise on the topics of financial infrastructure systems. 



His Excellency also praised the great support and encouragement given to their Excellencies, the governors of central banks and Arab monetary institutions, for the "Bani" Arab Payments platform, and the opportunities that the platform's services provide for developing the payment and settlement system in the Arab region and enhancing regional financial integration and linkage with the global financial system.






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International Monetary Fund: We are ready to support Iraq Empty How to visit the Iraqi currency: revealing the secrets of its previously and current printing and “most popular denominations”… 200 million “counterfeiters” a month in the markets!

Post by claud39 on Thu Oct 01, 2020 10:00 pm

How to visit the Iraqi currency: revealing the secrets of its previously and current printing and “most popular denominations”… 200 million “counterfeiters” a month in the markets!

2020-09-29

 
 
International Monetary Fund: We are ready to support Iraq 56255482_2625147314166883_1794373444335304704_n
 
 
Yes Iraq - Baghdad
 
In recent years, the phenomenon of counterfeiting Iraqi currency and its spread in the local markets has become famous in Iraq, which leads to heavy losses for merchants who are deceived by this currency, as the security authorities announce from time to time the arrests of mafias and counterfeiting gangs in their possession of large forged sums of all financial categories.
 
Trillions in Iraq..fake billions
 
The data of the Central Bank of Iraq shows that the size of the Iraqi monetary mass circulating in Iraq is between 40 and 45 trillion Iraqi dinars, as it is considered a fluctuating number as a result of bank withdrawals in various governorates for the damaged currency and subsequently compensated for a new currency, according to the central data in 2019.

However, this large monetary block is added to it at least 4 billion Iraqi dinars as counterfeit currency forged by mafias and gangs, according to the issuance and treasury department of the Central Bank, a year ago from now.
 
International Monetary Fund: We are ready to support Iraq 56382705_1217955945053891_9068555826091786240_n
 
The department says, at the time, that Iraqi banks discover amounts of no less than 200 million dinars every month, while they receive deposits from citizens, explaining that the discovery of these amounts is individually for Iraqis who have fallen victim to receiving counterfeit currencies.

She adds, that the forged cash denominations are often for the fifty thousand dinars denomination and the 25 thousand dinar denomination, and to a lesser extent the 10,000 dinar denomination, pointing out that cash workers can easily detect counterfeit currencies, as the Iraqi currency has no less than 20 stamps, stamps and marks impossible. Counterfeiting, which are protections for currency against forgery
 
International Monetary Fund: We are ready to support Iraq Download-1-18
 
The new editions of the Iraqi currency now include new security additions such as paperboard, glossy and sealed transparent paper, which is difficult for the most skilled counterfeiters to imitate, and the coming months will witness the replacement of most of the large currency denominations such as the 10,000, 25,000 and 50,000 denominations with new prints.

How are things going now?

 
A member of the Parliamentary Finance Committee, said today, Tuesday, September 29, 2020, that there is a difficulty in counterfeiting the Iraqi financial currency, while noting that the mass of counterfeit money in the markets is known only through the Central Bank.

The committee member states that the Iraqi currency was printed before 1991 in Switzerland, and after the fall of the previous regime in 2003, its printing moved to the British Institute in London, indicating that the currency is printed according to international specifications that cannot be forged in any way, in addition to the financial cost of printing paper that increases For 1 cent, and it is not possible to forge it.

He points out that counterfeiting gangs are present in all countries of the world, and the issue of controlling them remains the responsibility of the competent security forces, pointing out that “the difficulty of knowing the mass of counterfeit money in the market is only through official statements issued by the Central Bank.
 
International Monetary Fund: We are ready to support Iraq 56255482_2625147314166883_1794373444335304704_n
 
The last incident .. Where?
 
Earlier this September, the Basra Provincial Police Command announced the arrest of those accused of counterfeiting currency notes in Al-Zubair district, who were seized in their possession of counterfeit Iraqi currency and foreign currencies of the 50, 52 and 10 thousand dinars, amounting to 3 million and 830 thousand dinars, In addition to 1700 US dollars, 100 dollars denomination.

In previous years, the phenomenon of counterfeiting currency has spread in the local markets, which leads to losses for traders who are deceived by the counterfeit currency, and in recent years its severity has abated. The Ministry of Interior continues to arrest from time to time the counterfeiting gangs.



https://yesiraq.com/%D9%83%D9%8A%D9%81-%D8%AA%D9%8F%D8%B2%D9%88%D8%B1-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A%D8%A9-%D8%A7%D9%84%D9%83%D8%B4%D9%81-%D8%B9%D9%86-%D8%A7%D8%B3%D8%B1/


Last edited by claud39 on Thu Oct 01, 2020 10:15 pm; edited 1 time in total
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International Monetary Fund: We are ready to support Iraq Empty The governor of the central bank intends to raise the signature of the relationship from the currency: it costs the state 50 million dollars

Post by claud39 on Thu Oct 01, 2020 10:08 pm

The governor of the central bank intends to raise the signature of the relationship from the currency: it costs the state 50 million dollars


9/29/2020


International Monetary Fund: We are ready to support Iraq Cntralbankchef





A responsible source revealed directives issued by the new central bank governor, Mustafa Ghaleb Makhaif, the book to reprint the currency with the aim of raising the signature of his predecessor, Ali Ismail Al-Alaq, who put his name in addition to his signature on the new and old categories.

 The source expected that the process of replacing the 39 trillion dinars would cost about 40-50 million dohomes, expressing his surprise at such a trend at a time when the country is facing a severe liquidity crisis that threatens monthly salary payments.


 The former Central Bank Governor, Ali Ismail Al-Alaq, decided to put his name in addition to his official signature on the Iraqi currency, including

the new 50 thousand dinars, contrary to what is known in the history of the Iraqi currency, which is satisfied with the signature of the central bank governor only.

 Al-Alaq’s decision sparked widespread controversy, prompting parliamentary bodies to file a lawsuit against the Central Bank, in which the head of the legal department at the time, Mustafa Ghaleb, represented him.


 The high-level source confirms, in an interview with "Iraqi 24", who refused to reveal his name, that "the governor of the Central Bank decided that currency exchange be the first decision he takes," considering that "the decision is not economically feasible and that it aims to raise the signature and name of Ali Alaq from the monetary block only. 


 The governor of the Central Bank stressed, in his first meeting with the bank’s board of directors on September 22, the importance of following the context of the official signature on the exported currency, and not using the signature with the name drawing that was previously approved by the committee at a previous meeting.


 The source adds by noting that "this measure will cost the Iraqi treasury between 40-50 million dollars," noting that "there is a cash block estimated at 39 trillion dinars that must be changed."


 The source added, "There is astonishment at this measure that the governor of the central bank intends to implement in light of the presence of more urgent priorities and the need to focus on monetary policy, managing inflation and controlling its indicators," noting that "the current central bank governor used to occupy the director of the legal department of the central bank and pleaded. And defending the decision on the relationship put his name and signature on the currency. " He asked, "Is the purpose of the decision for the new governor to put his personal signature and perhaps his name instead of his predecessor, just to immortalize himself?"



 On September 14, Prime Minister Mustafa Al-Kazemi assigned Mustafa Ghaleb Mekhaif the book with the task of managing the Central Bank, succeeding Ali Al-Alaq, who asked to be referred to retirement. The decision sparked a wave of dissatisfaction among the staff of the Central Bank, given that the new governor does not have a background in financial and banking sciences.





https://iraqi24.com/news/%D9%85%D8%AD%D8%A7%D9%81%D8%B8-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%B9%D8%AA%D8%B2%D9%85-%D8%B1%D9%81%D8%B9-%D8%AA%D9%88%D9%82%D9%8A%D8%B9-%D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82-%D9%85%D9%86-%D8%A7%D9%84%D8%B9%D9%85%D9%84%D8%A9-%D9%8A%D9%83%D9%84%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A9-50-%D9%85%D9%84%D9%8A%D9%88%D9%86-%D8%AF%D9%88%D9%84%D8%A7%D8%B1
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International Monetary Fund: We are ready to support Iraq Empty The central bank imposes a fine on the shortage of small groups

Post by claud39 on Sat Oct 03, 2020 1:14 pm

[size=36][rtl]The central bank imposes a fine on the shortage of small groups[/rtl][/size]



Saturday 03 October 2020


International Monetary Fund: We are ready to support Iraq Alsabaah-48094



Baghdad: Morning 
 
The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1000,500,250) dinars, starting from the date of 10/1/2020, according to the instructions for the standards of circulation and replacement of banknotes, and the mechanisms of counting and sorting.

In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.

The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.

"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.

On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.

The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.




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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by claud39 on Sat Oct 03, 2020 1:17 pm

@claud39 wrote:

[size=36][rtl]The central bank imposes a fine on the shortage of small groups[/rtl][/size]





Saturday 03 October 2020


International Monetary Fund: We are ready to support Iraq Alsabaah-48094



Baghdad: Morning 
 
The Central Bank of Iraq decided to re-impose a shortage fine on banks on the small categories of (1000,500,250) dinars, starting from the date of 10/1/2020, according to the instructions for the standards of circulation and replacement of banknotes, and the mechanisms of counting and sorting.
In a statement followed by Al-Sabah, the bank stated that this came, based on the minutes of the Currency Affairs Committee meeting No. (6) for the year 2020 held on 9/23/2020.
The Central Bank had earlier addressed all licensed banks regarding instructions and standards for the circulation and replacement of banknotes and the mechanisms of counting and sorting.
"Due to lack of commitment to the instructions and standards for the circulation of banknotes, their replacement and the counting and sorting mechanisms, we confirm what was stated in the book of the Department of Issuance and Treasury / Department of Banking and Conformity Follow-up / Banking Follow-up Division numbered 12/8/1470 and dated 10/4/2018, noting that The extent of your banks' compliance with the above will be monitored through inspection bodies and on-site inspection.
On the other hand, the Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Financing Program, each separately.
The bank discussed with the member states of the Arab Monetary Fund’s board of directors issues that support joint Arab action, most notably the "Arab Payments and Clearing System" Buna "and its importance in facilitating inter-Arab payments and financial transfers.
While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.






[size=43]Arab states finalize regional payment and settlement system[/size]


Reuters, Abu DhabiSunday 22 April 2018






International Monetary Fund: We are ready to support Iraq 60617d67-3b1e-4aa9-87d0-5fcc34b35262_16x9_600x338

File photo of a man counting Egyptian currency at an exchange office in Cairo, Egypt. (AP)






Arab countries have finalized plans to create an independent, regional cross-border payments system after current arrangements were hit by a rise in compliance costs and downsizing by some international banks.

At present, many cross-border payments and settlements among Arab countries are carried out by correspondent banks, which act as agents for foreign financial institutions that do not have a
local presence in a given country.

A tightening of anti-money laundering rules by US and European banks in the last several years has added to the cost of this practice, while some banks have quit the market to focus on more lucrative areas.

The board of the Arab Monetary Fund (AMF), which has 22 member-countries ranging from Gulf states to Sudan and Morocco, approved the creation of an independent regional body to clear and settle payments among them, the AMF said on Sunday.

It did not specify when the system would go live, but AMF officials said earlier that they expected the system to be in operation by 2020.

The new body, supported by Arab central banks, will have capital of $100 million and be owned by the AMF.

“The aim of the entity is to promote the use of local currencies in intra-Arab payments clearing and settlement transactions, alongside main international currencies,” the AMF said.




https://english.alarabiya.net/en/business/banking-and-finance/2018/04/22/Arab-states-finalize-regional-payment-and-settlement-system
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International Monetary Fund: We are ready to support Iraq Empty Al-Nasiri: Borrowing and reducing the exchange rate of the dinar is not a solution to our economic problems

Post by claud39 on Sun Oct 04, 2020 10:36 am

Al-Nasiri: Borrowing and reducing the exchange rate of the dinar is not a solution to our economic problems




10/4/2020





International Monetary Fund: We are ready to support Iraq 23364





Economy News _ Baghdad





The economic and banking advisor, Samir Al-Nusiri, called, on Sunday, not to rely mainly on borrowing from Iraqi banks and the Central Bank of Iraq and for the Ministry of Finance to prepare its plan and programs for economic reform in accordance with the request of the Iraqi Council of Representatives three months ago and include it in the budget for 2021 and diversify sources of revenue and revolutionize productive sectors towards Enhancing resources without relying too much on oil revenues and borrowing.

In an interview with Al-Eqtisad News, Al-Nusiri said that the Ministry of Finance's continued adoption of the borrowing policy and insistence on it during the past three months and the next three months for the purpose of paying the salaries of employees and retirees and social welfare will lead the economy to the unknown because the excellent foreign reserves at the Central Bank have made exceptional efforts During its safe investments and its rational and balanced monetary policy during previous years, it must be preserved, because reaching the minimum levels in accordance with the standards of the International Monetary Fund will lead to a lack of control over the coverage of the local currency in circulation and the lack of exaggeration in the exchange rate of the local currency and confusion of the financial and monetary market and the high rate of inflation will lead To the collapse of the already fragile economic situation, due to the special circumstances of Iraq and their disastrous repercussions on the national economy.

He added that the leaked information indicates that there is an intention to reduce the exchange rate of the Iraqi dinar, and if that actually happened, it is realistically aimed at improving the government's financial position and covering the budget deficit due to the continuous escalation in the public budget expenditures, but what the reduction in the exchange rate will achieve is only a small percentage. By analogy with the negative economic aspects and impacts on the economic situation, the citizen and the market.

Al-Nusiri stressed that the solution to the problem is to support and stimulate the real sector, diversify sources of income, and increase budget revenues towards reducing the proportion of oil revenue in the budget, and this is not achieved by issuing a law for borrowing and that there are economic solutions that the government and the private sector contribute to and work according to Iraqi visions and experiences by taking advantage of the experience. Iraqi and non-application of static experiment templates and countries that do not have complex and accumulated challenges that Iraq has suffered from for several years.

Al-Nusiri proposed a road map for economic reform that includes rapid measures to address the current crisis and strategic measures for 2021 and 2022, as follows: 

   Quick procedures 

1- Speaking frankly with the people.
 
2 - Announcing austerity policy 

. 3- Issuing compulsory savings bonds at a reasonable rate at an appropriate interest. With a commitment to pay interest annually and extend the recovery period of the asset until the crisis is over 

. 4- Issuing legislations to regulate the work of the private sector and unify the retirement law for both sectors to reduce pressure on the budget. 

5 - maximizing local revenues through improved collection of taxes, electricity, rents , etc. .. Real State 

. 6 - Imposing taxes on the total salary, incentives and bonuses for public, mixed and private sector employees. 

On the other hand, reducing spending through:

1- Reducing diplomatic missions and limiting them to political and commercial partners of utmost importance. 
2 - Stop the dispatches or reduce them to the very necessary limits 

3- The ration card is limited to needy families.

 4- Reducing working hours to reduce waste in electrical energy consumption. 5. Transferring government wheels between departments and according to the need to reduce the purchase of new ones. It is possible to suggest a lot of ideas leading to stopping the waste of public money.
Strategic measures

 First ‐ To start a systematic movement to draw up a road map for administrative and economic reform by the Iraqi government and private sector, economic, financial and banking elites and competencies, and that the reform movement is based on several important economic pillars that adopt a new methodology for managing the economy and achieving the central goal of moving the economy from rentier to productive and activating sectors Productivity other than oil in order to reach a ratio approaching towards reducing the percentage of dependence mainly on oil revenue from general budget revenues, creating sustainable development, achieving diversity in resources, developing economic and human structures for the proper construction of the national economy and building the precursors of the transition to a market economy.

Secondly, the formation of the Supreme Council for Economic Reform, provided that a binding law for the ministries is legislated for the implementation of its decisions and has the authority to follow-up, monitor and evaluate, and it shall be formed under the chairmanship and membership of a group of government experts and the private sector. His first task is to lay down policies and mechanisms to diversify the sources of financing the general budget and not to rely on oil only.

Third ‐ Moving to the central administration of the economy so that the principle of (central planning and decentralization of implementation) is implemented. This means that the Supreme Council for Economic Reform takes charge of drawing plans and policies centrally and distributes their implementation to specialized councils for construction, investment and implementation of development projects in the economic and human sphere. These councils are: -

* Council The Private Sector 

* The Construction Council  

* The Small and Medium Enterprises Development Authority  

* The Public Service 

Council * The Local Product Support and Protection Council.

 Fourth ‐ Creating and creating an investment climate for local and foreign investors, motivating and encouraging them, and ensuring their contractual rights to attract their capital and protect them from the pressures of spoilers.

Fifthly, providing soft loans to finance small, medium and large projects, establishing a legal and institutional system for managing, developing and developing them, as well as issuing and amending the laws of the legal environment to regulate the economic process and here means issuing new laws instead of the laws that were issued in 2004 because of the changes that occurred in the national economy during the 17 Public .

Sixth: Activating investment in the agricultural, industrial, energy, tourism, services and housing sectors, as well as working on reforming, developing and developing the banking sector through the applications of monetary policy and organizing the relationship and restrictions that govern financial and monetary policies, as well as the serious direction to reform the tax, financial and customs system. Addressing the failure to achieve the required growth rates in the national income.

Seventh Supporting, developing and motivating the private sector and benefiting from its capabilities, capabilities, capitals and investments in building the national economy and its participation in economic decision-making, managing the economy.

Eighth - Emphasizing the independence of the Central Bank and not pressuring it with governmental economic decisions, whatever the justifications, and developing a new methodology to overcome the challenges of instability in the financial system and the monetary system, which means developing coordinated and balanced plans to overcome the challenges of monetary policy and the challenges of the deficit in non-oil revenue and the deficit in the balance of payments and the balance Commercial.





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International Monetary Fund: We are ready to support Iraq Empty Governor of the Central Bank: We are determined to implement the reform plan to promote the work of the banking sector

Post by claud39 on Sun Oct 04, 2020 10:41 am

Governor of the Central Bank: We are determined to implement the reform plan to promote the work of the banking sector




10/4/2020





International Monetary Fund: We are ready to support Iraq 23380







Economy News - Baghdad



The Governor of the Central Bank of Iraq, Mustafa Ghaleb, confirmed that the Central Bank is determined to implement the reform plan that contributes to the promotion of the banking sector.

A press release issued by the Central Bank said, "Al-Iqtisad News" received a copy of it. The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mkhaif, met the President of the Republic, Dr. Barham Salih, today, Sunday.

According to the statement, the President of the Republic congratulated the Governor of the Central Bank who took the position, wishing him success in performing his duties.

The governor of the bank confirmed during the meeting that this bank is determined to implement the reform plan that would help in the promotion of the Iraqi banking sector in light of the current challenges to serve the country's economy.

  For his part, the President of the Republic stressed the need for the independence of the Central Bank, the strengthening of the country's financial position by diversifying the state's resources and following a balanced monetary policy, and taking all measures to combat administrative and financial corruption, especially in the current circumstances in which the country is facing the Corona pandemic, and the decline in oil imports





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International Monetary Fund: We are ready to support Iraq Empty Merged companies Branch (A)

Post by claud39 on Sun Oct 04, 2020 10:50 am

Merged companies Branch (A)






October 04, 2020






International Monetary Fund: We are ready to support Iraq News-160180706060407






The Central Bank of Iraq decides to approve the increase of the branches of the merged exchange companies according to category ( A ) with a total number of (20) a maximum of 20 branches, including the branches of the companies merging with the parent company.






https://cbi.iq/news/view/1570
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International Monetary Fund: We are ready to support Iraq Empty Iraq reassesses the financial position of private banks

Post by claud39 on Sun Oct 04, 2020 11:40 am

Iraq reassesses the financial position of private banks


4 October, 2020





International Monetary Fund: We are ready to support Iraq Logo1-1







Baghdad - Dr. B. A: The Board of Directors of the Central Bank of Iraq decided yesterday to reassess the financial position of private banks.

The bank said, in a press release published by Alsumaria News yesterday, that it decided, “in its session held recently last September, to re-evaluate the financial position of all private banks, by directing the departments concerned with this bank, by auditing and evaluating the capital of private banks and determining the percentage of deficit and sources That money ”.

He added, "The decision comes in line with the reform plan led by the management of this bank to create a real banking sector, consistent with the requests of depositors in dealing with these banks."

It is noteworthy that most of the banks operating in Iraq, amounting to more than 60 banks, have no credit, and therefore most specialists see that it "makes a living largely on the currency auction conducted by the Central Bank."







http://alwatan.com/details/400734
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International Monetary Fund: We are ready to support Iraq Empty The free dinar .. An economist talks about a move that establishes a global demand for the Iraqi currency

Post by claud39 on Sun Oct 04, 2020 12:07 pm

[size=30]The free dinar .. An economist talks about a move that establishes a global demand for the Iraqi currency[/size]

2020-10-03

International Monetary Fund: We are ready to support Iraq 120659117_3042420592651642_6977380460699158376_n

Yes Iraq: Baghdad

The economist Ahmed Al-Salami wrote an explanation about some countries deleting zeros from their currency and the possibility of applying them in Iraq, while referring to the possibility of making the Iraqi currency strong and has global demand, in what he described as the free dinar.

 
"Iran will soon delete four zeros from its currency and convert it from the riyal to the new toman officially and have completed the legal series for that, and at that time it will be 100 dollars equal to 300 toman only instead of 3 million tomans or 30 million riyals," Al-Salami said in a clarification received by "Yes Iraq." .


He added: "A digital deception previously carried out by the United States, Italy and Turkey, the United States deleted its dollar currencies with zeros in front of the previous European currencies, the French franc, the German mark and the English pound, and canceled the $ 10,000 currency and the $ 1,000 currency and withdrew it from banking and personal circulation forever."


He continued: “Italy also re-zeroed the Italian lira, adjusted its value and deleted six zeros from it, and the million lira turned into one lira and a hundred million lira into 100 lira before it was merged with the euro currency in 2002, as well as that of Turkey, which converted one million Turkish liras into one lira and converted one hundred million pounds One hundred Turkish liras only ”.


He explained: “Suddenly, the Turkish currency was circulated and used abroad for circulation, and it entered Iraq and was used for dealing and the exchange rate as a store of value, and whoever used to work in the Shorja knows this after the Turkish currency was forgotten throughout the nineties and eighties and was an attempt to integrate Turkey with European economic values.”


 
And that "the current Iraqi dinar differs slightly because the Iraqi economy is consumerist, but that does not prevent it. It is possible to apply that and use the deleted Iraqi currency zeros by buying and importing industrial production lines for the manufacture of basic and luxury goods as much as possible, and this will revive the exchange rate of the dinar and the demand for it externally and shrinking." Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros.


International Monetary Fund: We are ready to support Iraq 120711793_3042420645984970_1306321281476143639_n



International Monetary Fund: We are ready to support Iraq 120659117_3042420592651642_6977380460699158376_n







https://yesiraq.com/%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%AD%D8%B1-%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D9%8A%D8%AA%D8%AD%D8%AF%D8%AB-%D8%B9%D9%86-%D8%AE%D8%B7%D9%88/
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International Monetary Fund: We are ready to support Iraq Empty Central Bank: Direct implementation of steps to reform the banking sector

Post by claud39 on Mon Oct 05, 2020 11:05 am

Central Bank: Direct implementation of steps to reform the banking sector


10/05/2020


International Monetary Fund: We are ready to support Iraq 23390




Economy News - Baghdad


The Central Bank announced, on Monday, that it will implement its first "reform steps" for the banking sector, indicating that the classification of private commercial and Islamic banks operating in Iraq has been completed according to a set of international standards, in addition to a number of standards approved by the bank.
"This step comes within the framework of enhancing confidence in the banking sector and improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector," the bank added in a statement.
He emphasized that he had previously asked "the lagging banks more than once to work on correcting their situation and paying their customers' dues. Therefore, this classification will be an opportunity for these banks to prove their seriousness in achieving reform requirements and pay the dues to depositors and shareholders."
He continued, "The next stage will include the process of reforming government banks as well, noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. 56 of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued according to them."




https://economy-news.net/content.php?id=22116
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International Monetary Fund: We are ready to support Iraq Empty The Central Bank begins implementing steps to reform the banking sector

Post by claud39 on Mon Oct 05, 2020 11:40 am

The Central Bank begins implementing steps to reform the banking sector




October 05, 2020





International Monetary Fund: We are ready to support Iraq News-160188156380230








Today, Monday, the Central Bank of Iraq began implementing its first reform steps for the banking sector, as it finished classifying private commercial and Islamic banks operating in Iraq according to a set of international standards as well as a number of standards approved by this bank.
 


 This step comes within the framework of enhancing confidence in the banking sector, improving the quality of services provided to the public, as well as enhancing competitiveness in the Iraqi banking sector.




This bank confirms that it has previously asked the lagging banks more than once to work on correcting their situation and paying their customers' dues, and therefore this classification will be an opportunity for those banks to prove their seriousness in achieving the requirements of reform and pay the dues of depositors and shareholders.
 


Finally, we announce that the next stage will include the process of "reforming government banks as well," noting that the reform measures that have been adopted depend mainly on the Central Bank Law No. 56 of 2004 and the Iraqi Banking Law No. 94 of 2004 and the instructions and controls issued in accordance with them.

 

      The Central Bank of Iraq   Information Office, 5th of October 2020
      


               Baghdad




https://cbi.iq/news/view/1571
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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ORGANIZES A (REMOTE) COURSE ON "INVESTMENT PORTFOLIO MANAGEMENT" ABU DHABI - UNITED ARAB EMIRATES

Post by claud39 on Mon Oct 05, 2020 12:06 pm

THE ARAB MONETARY FUND ORGANIZES A (REMOTE) COURSE ON "INVESTMENT PORTFOLIO MANAGEMENT" ABU DHABI - UNITED ARAB EMIRATES
2020-10-05



International Monetary Fund: We are ready to support Iraq Logo-ar










The training course on " Investment Portfolio Management " organized by the Training and Capacity Building Institute of the Arab Monetary Fund opened today , during the period 4-8 October 2020 , through the method of remote training that the Fund adopted as a continuation of its training activities.



You are well aware of the importance of managing investment portfolios in order to achieve the best return with the lowest level of risk. Portfolio management is, in fact, both an art and a science that helps in making decisions about mixing investments, aligning them with objectives, and balancing risks and performance. This requires knowledge of the strengths and weaknesses, opportunities and risks when making an investment decision to choose between investing in debt or equity instruments, domestic or foreign investment, and achieving the growth objective of the investment and the safety goal.



The course will also focus on the importance of managing official foreign reserves and how to maintain their safety and development in a manner that ensures a balance between liquidity and security on the one hand, and a reasonable return on the other hand. From here stems the importance of the topic of the course, as the proper management of foreign reserves increases the economy’s ability to withstand external shocks through what reserve managers obtain from information that makes economic policy makers aware of financial market developments and potential risks.



On this occasion, in the speech of His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund:
 

[url=https://www.amf.org.ae/sites/default/files/Files/content/%D9%83%D9%84%D9%85%D8%A9 %D9%85%D8%B9%D8%A7%D9%84%D9%8A %D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1 %D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B1%D8%AD%D9%85%D9%86 %D8%A8%D9%86 %D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D9%84%D9%87 %D8%A7%D9%84%D8%AD%D9%85%D9%8A%D8%AF%D9%8A %D9%81%D9%8A %D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD %D8%AF%D9%88%D8%B1%D8%A9 %D8%AA%D8%AF%D8%B1%D9%8A%D8%A8%D9%8A%D8%A9 %D8%AD%D9%88%D9%84 %D8%A5%D8%AF%D8%A7%D8%B1%D8%A9 %D8%A7%D9%84%D9%85%D8%AD%D8%A7%D9%81%D8%B8 %D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1%D9%8A%D8%A9.pdf]Text[/url]











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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ORGANIZES A COURSE (ONLINE) ON "REFORMS IN THE FINANCIAL AND BANKING SECTOR IN THE ARAB COUNTRIES"

Post by claud39 on Mon Oct 05, 2020 12:08 pm

THE ARAB MONETARY FUND ORGANIZES A COURSE (ONLINE) ON "REFORMS IN THE FINANCIAL AND BANKING SECTOR IN THE ARAB COUNTRIES"
2020-10-05





International Monetary Fund: We are ready to support Iraq Logo-ar








Abu Dhabi - United Arab Emirates

 

The training course on “ Reforms in the Financial and Banking Sector in the Arab Countries  , organized by the Training and Capacity Building Institute at the Arab Monetary Fund, opened today , during the period 4-8 October 2020 , through the method of distance training that the Fund adopted as a continuation of its training activities.



Reforms in the financial and banking sector have gained great attention in many Arab countries due to the pivotal role the sector plays in mobilizing savings and directing them to investment opportunities and financing activities of various economic sectors, as one of the most important pillars of achieving comprehensive and sustainable economic growth. Perhaps you are aware of the tremendous development in the nature of the role that the financial sector plays in economic activity over the past ten years, as new tasks related to financial digitization, expanding access to finance and financial services, achieving financial inclusion, and participating actively in achieving development goals at the levels Economic and social. 



Many Arab countries have made unremitting efforts to support the process of structural and sector reform. The Fund responded by providing financial and technical support and capacity building. In this context, the session reviews, in the context of a coherent methodology, the latest developments in reform frameworks in the financial and banking sector, and projecting this to the reforms that have been implemented at the level of Arab countries, especially in light of the current challenges due to the Covid-19 pandemic and its repercussions on the overall monetary and banking conditions, and sectors. Insurance and stock exchanges, and the resulting internal and external imbalances that require their containment, adopting reforms to varying degrees.



On this occasion, in the speech of His Excellency Dr. Abdul Rahman bin Abdullah Al Hamidi, Director General and Chairman of the Board of Directors of the Arab Monetary Fund:
 

[url=https://www.amf.org.ae/sites/default/files/Files/content/%D9%83%D9%84%D9%85%D8%A9 %D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD %D9%85%D8%B9%D8%A7%D9%84%D9%8A %D8%A7%D9%84%D8%AF%D9%83%D8%AA%D9%88%D8%B1 %D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D8%B1%D8%AD%D9%85%D9%86 %D8%A8%D9%86 %D8%B9%D8%A8%D8%AF%D8%A7%D9%84%D9%84%D9%87 %D8%A7%D9%84%D8%AD%D9%85%D9%8A%D8%AF%D9%8A %D9%81%D9%8A %D8%A7%D9%81%D8%AA%D8%AA%D8%A7%D8%AD %D8%A7%D9%84%D8%AF%D9%88%D8%B1%D8%A9 %D8%A7%D9%84%D8%AA%D8%AF%D8%B1%D9%8A%D8%A8%D9%8A%D8%A9.pdf]Text[/url]








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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Tue Oct 06, 2020 4:47 am

@claud39 wrote:[size=30]The free dinar .. An economist talks about a move that establishes a global demand for the Iraqi currency[/size]

2020-10-03

International Monetary Fund: We are ready to support Iraq 120659117_3042420592651642_6977380460699158376_n

Yes Iraq: Baghdad

The economist Ahmed Al-Salami wrote an explanation about some countries deleting zeros from their currency and the possibility of applying them in Iraq, while referring to the possibility of making the Iraqi currency strong and has global demand, in what he described as the free dinar.









 
"Iran will soon delete four zeros from its currency and convert it from the riyal to the new toman officially and have completed the legal series for that, and at that time it will be 100 dollars equal to 300 toman only instead of 3 million tomans or 30 million riyals," Al-Salami said in a clarification received by "Yes Iraq." .


He added: "A digital deception previously carried out by the United States, Italy and Turkey, the United States deleted its dollar currencies with zeros in front of the previous European currencies, the French franc, the German mark and the English pound, and canceled the $ 10,000 currency and the $ 1,000 currency and withdrew it from banking and personal circulation forever."


He continued: “Italy also re-zeroed the Italian lira, adjusted its value and deleted six zeros from it, and the million lira turned into one lira and a hundred million lira into 100 lira before it was merged with the euro currency in 2002, as well as that of Turkey, which converted one million Turkish liras into one lira and converted one hundred million pounds One hundred Turkish liras only ”.


He explained: “Suddenly, the Turkish currency was circulated and used abroad for circulation, and it entered Iraq and was used for dealing and the exchange rate as a store of value, and whoever used to work in the Shorja knows this after the Turkish currency was forgotten throughout the nineties and eighties and was an attempt to integrate Turkey with European economic values.”


 
And that "the current Iraqi dinar differs slightly because the Iraqi economy is consumerist, but that does not prevent it. It is possible to apply that and use the deleted Iraqi currency zeros by buying and importing industrial production lines for the manufacture of basic and luxury goods as much as possible, and this will revive the exchange rate of the dinar and the demand for it externally and shrinking." Depletion of foreign currency to buy the most insignificant commodities and deplete the cash balance, instead of facilitating official and accounting transactions, packages, storage, transportation, use of versatile metal change and revolutionary digital currency through cards and gain confidence internally and externally, needs a revival, stimulation and progress in this aspect, easy projects that are waiting for their hero, below. Conceptual models for the deleted Iraqi currency, the "free dinar" zeros.


International Monetary Fund: We are ready to support Iraq 120711793_3042420645984970_1306321281476143639_n



International Monetary Fund: We are ready to support Iraq 120659117_3042420592651642_6977380460699158376_n







https://yesiraq.com/%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D8%A7%D9%84%D8%AD%D8%B1-%D8%AE%D8%A8%D9%8A%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A-%D9%8A%D8%AA%D8%AD%D8%AF%D8%AB-%D8%B9%D9%86-%D8%AE%D8%B7%D9%88/

Sam I Am wrote this awhile back.

Well I just got a glimpse of the new dinar notes.  They should be in circulation any day now, and I must say they turned out rather well.

International Monetary Fund: We are ready to support Iraq 53efb-new-dinar

All kidding aside, a recent article from Iraq reports that they’re printing new banknotes in Iraq, only they’re not the new “lower denoms” that the gurus have been telling us about for years now …. you know, the ones that would reflect a 100,000% increase in the IQD’s value.  No, these are new 250, 500,  1,000,  5,000,  10,000, and 25,000 dinar notes which are already in circulation.  They’re being given a facelift with new designs and security measures as well as features for the blind.

https://iraqcurrencywatch.com/the-new-dinar-notes-41314/


Are you sure you want to continue to get my attention on the internal banking laws/reforms of Iraq thinking it has something to do with the exchange rate?

The reserves back the money supply. It's that simple. Currently the reserves are falling due to various reasons. Just look at all the news.

All those AMF articles are interesting. You should really read them without focusing on specific keywords thinking it has something to do with changing the foreign currency exchange rate changing in Iraq. The CBI sets the rate, and the AMF is following the IMF rate.

https://www.dinardaily.net/t94913-opinion-on-the-subject-of-dinars
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International Monetary Fund: We are ready to support Iraq Empty Statements to enhance stocks abroad

Post by claud39 on Tue Oct 06, 2020 12:42 pm

To be sure you understand what I'm doing !!

I send you all the news that comes from the central bank of iraq to see their follow-up in their change on their banking structure, and the news of the arab monetary fund, since iraq is a member, and even iraq follows the new directive of the arab monetary fund, you will notice that the arab monetary fund, and iraq are working on financial inclusion in the middle east !!

Good follow-up !!!


Claud (Moose)




Statements to enhance stocks abroad






October 06, 2020





International Monetary Fund: We are ready to support Iraq News-160197775739953







The Central Bank of Iraq invites all licensed banks to provide it with statements of strengthening the assets abroad of these banks according to (Form No. 4) on the date specified by the instructions for selling foreign currency numbered (6/2251) on (7/17/2017), otherwise the violating bank will be referred to Sanctions Committee in this bank.





https://cbi.iq/news/view/1574
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International Monetary Fund: We are ready to support Iraq Empty The Central Bank participates in a seminar with the Basra Chamber of Commerce

Post by claud39 on Tue Oct 06, 2020 12:43 pm

The Central Bank participates in a seminar with the Basra Chamber of Commerce






October 06, 2020





International Monetary Fund: We are ready to support Iraq News-160197684197734









The Central Bank of Iraq, Basra Branch, held a dialogue seminar on Monday, the fifth of October 2020, in cooperation with the Basra Chamber of Commerce, and the presence of the banks operating in the governorate. Its success is reflected in the movement of the Iraqi economy.





International Monetary Fund: We are ready to support Iraq File-16019767653849





https://cbi.iq/news/view/1572
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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ISSUES A STUDY ENTITLED "THE IMPACT OF THE TOURISM SECTOR ON ECONOMIC GROWTH IN THE ARAB COUNTRIES"

Post by claud39 on Tue Oct 06, 2020 12:57 pm

THE ARAB MONETARY FUND ISSUES A STUDY ENTITLED "THE IMPACT OF THE TOURISM SECTOR ON ECONOMIC GROWTH IN THE ARAB COUNTRIES"




2020-10-06







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The study confirms the positive impact of the tourism sector on economic growth and indicates that an increase in tourism revenues by one percent helps to raise economic growth in the Arab countries by 0.36 percentage points.

The study calls on policy makers to focus on developing the infrastructure for the tourism sector, supporting domestic tourism and increasing the competitiveness of the Arab tourism product

 



Within the framework of the efforts exerted by the Arab Monetary Fund in terms of research activities to support decision-makers in Arab countries on priority issues, the fund prepared a study on "The Impact of Tourism Sector on Economic Growth in Arab Countries". The study indicated that the tourism sector has achieved high growth rates in recent decades, as its contribution to the gross domestic product has increased at the global level, to represent about 10.4 percent during the year 2019, according to data from the World Travel and Tourism Council, thus becoming one of the most important sectors that contribute to achieving growth Economic growth, increasing employment levels, reducing poverty, reducing inequality in income distribution, increasing levels of demand for goods and services, and strengthening official reserves and foreign exchange receipts.


The study showed that the tourism sector is one of the economic activities most affected by the emerging corona virus pandemic as a result of restrictions imposed on travel destinations, in addition to a large number of countries canceling flights to limit the spread of the virus, which led to a significant decline in tourism and travel activities, as it is expected According to estimates by the World Tourism Organization, which are based on three possible hypotheses for the impact of the virus, the tourism sector output will decline by between 60 and 80 percent during the year 2020.


This significant and unprecedented decline in the tourism sector will expose millions of direct and indirect job opportunities to risk and will pose a challenge to the ability of developing countries to support GDP and employment, a potential and significant loss of foreign exchange earnings, and rising deficits in the balance of payments, which will be reflected in The value of the currencies of countries that depend on the tourism sector against international currencies.


At the level of the Arab countries, the study indicated that the contribution of the added value of the tourism sector to the gross domestic product in 2019 was about 11.4%, and the sector also contributes to providing many direct and indirect job opportunities, and enhancing foreign exchange receipts that contribute to supplementing Official reserve levels. Reflecting this, many countries in the region are making efforts for the permanent development of this sector in order to increase its competitiveness and its ability to attract more tourists from all countries of the world.


The spread of the new Corona virus has had tangible repercussions on the tourism sectors in a number of Arab countries, especially in the Arab countries that are major destinations for global tourism, which is what is expected in light of a significant decline in tourism receipts in these countries.


In this context, and given the importance of the tourism sector to Arab economies, a quantitative model was estimated using cross-sectional time series during the period (1995-2018) to measure the relationship between economic growth in the Arab countries and a number of related variables.


The results of the study indicated an affirmation of the positive impact of tourism revenues and tourism spending on economic growth rates in Arab countries, as each increase of one percent in tourism revenues contributes to raising the growth rate for Arab countries by 0.36 percentage points, while the increase by 1 percent In the levels of tourism spending in the Arab countries, the growth rate improved by 0.28 percentage points.


The study concluded with a number of policy recommendations that can contribute to improving the performance of the tourism sector in the Arab countries, the most important of which is the need to focus on developing the infrastructure for the tourism sector through the continuous improvement and development of the road network, modernization of tourism facilities, in addition to encouraging intra-tourism and activating Tourism agreements and launching joint tourism projects between Arab countries. In addition to working to increase the competitiveness of tourism products and services in the Arab countries, raise their quality level in accordance with international standards, qualify the cadres working in the tourism sector and raise the level of their skills in the field of tourism guidance and marketing and design tourism programs.


The study also emphasized the importance of focusing on enhancing the role of domestic tourism in a number of Arab countries and strengthening their contribution to total tourism revenues, in addition to encouraging low-cost airlines to attract more tourists from the main and promising markets.
 

The full version of the study is available at this link








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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ISSUES THE THIRD ISSUE OF THE "ARAB CAPITAL MARKETS MONTHLY BULLETIN"

Post by claud39 on Wed Oct 07, 2020 1:29 pm

THE ARAB MONETARY FUND ISSUES THE THIRD ISSUE OF THE "ARAB CAPITAL MARKETS MONTHLY BULLETIN"
 2020-10-07


International Monetary Fund: We are ready to support Iraq Logo-ar






The Arab Monetary Fund’s Composite Index of Arab money markets registered an increase of 1.91 percent by the end of September 2020
The performance indicators of seven Arab stock exchanges improved as a result of the gradual return to the growth of private sector activities in a number of Arab countries, supported by the easing of travel restrictions between countries
Market capitalization in the Arab capital markets increased by 2.7% last month
 


As part of its efforts to develop the financial sector in the Arab countries, the Arab Monetary Fund has issued the third issue of its "Monthly Bulletin of Arab Capital Markets". This bulletin is concerned with monitoring the most important developments in the Arab financial markets based on the Arab Monetary Fund database of Arab money markets, and data issued by Arab stock exchanges. The third issue of the bulletin indicated that the Arab Monetary Fund Composite Index of money market transactions recorded an increase of 1.91 percent at the end of September 2020 compared to the end of August 2020, equivalent to 7.8 points, thus raising the index from 405.9 points at the end of August to about 413.6 points. At the end of September, reflecting the improvement in several Arab markets in light of the gradual recovery of economic activity.

In this regard, seven Arab stock exchanges witnessed a rise in their performance indicators by the end of September of 2020 compared to August 2020, as the Saudi market led the upward movement, whose index rose by 4.51 per cent, supported by the performance of a number of leading sectors, including the banking and industry sectors. The stock exchanges of Bahrain and Iraq also recorded an increase of 3.88 and 3.11 percent, respectively, during the same month, supported by an increase in the financial services and banking sectors. The Kuwait Stock Exchange recorded an increase of 2.84% due to increased confidence and the return of positive spirit among investors.

On the other hand, the indices of seven other Arab stock exchanges closed lower, among them the Muscat Stock Exchange, which recorded the highest rate of decline, as the market index decreased by 4.17 percent, followed by the Egyptian Stock Exchange, with a decrease of 3.31 percent. The rest of the stock exchanges recorded decline rates of less than two percent.

On the level of the most important developments in the Arab financial markets during the month of September, the Saudi Capital Market Authority announced, in continuation of its efforts to support innovations in the field of modern financial technology, its approval of the application for a financial technology experiment permit submitted by a financial technology company, to test social trading technology that gives a group of clients an opportunity Reviewing the investment portfolios of other clients, and also reviewing the transactions executed for the benefit of these portfolios, in order to be guided by their investment strategies. 

On the other hand, last month witnessed the Kuwait Stock Exchange organizing its first institutional day remotely, with the aim of providing a deeper look at the benefits of investing in the Kuwaiti capital market and introducing investment opportunities in the market. In order to expand the investor base and enhance the performance of the market, the Damascus Stock Exchange announced the issuance of mechanisms and controls for using the Internet trading service .

 The establishment of the Egyptian Stock Exchange for Commodities was also announced, which is expected to contribute to increasing the rates of circulation of storable goods based on increased transparency and supply and demand mechanisms, as well as its usefulness in the possibility of developing future contracts or options contracts on these commodities, in a way that enables dealers to plan. Better financial.

The month of September 2020 also witnessed Arab stock exchanges continuing their efforts to diversify the listed financial products and stimulate market movement. In this regard, the Abu Dhabi Securities Exchange announced the listing of the global medium-term bond program issued by the Emirate of Abu Dhabi, worth five billion dollars. The market also announced the completion of the offering of shares for ADNOC Distribution with about 1.25 billion shares on the Abu Dhabi Stock Exchange, representing 10 percent of the company's capital, which were sold to investment institutions with a total value of 3.7 billion dirhams .

To enhance its role in supporting and developing the capital market, last month witnessed Boursa Kuwait announcing the listing of its shares in the first market within the financial services sector, bringing the total number of companies listed on the Kuwaiti Stock Exchange to 174 companies. On the other hand, the Palestine Stock Exchange announced last week that trading procedures will be reorganized to return to what they were before the Corona pandemic, taking advantage of the efforts made to enhance the market's ability to operate amid the precautionary measures in place due to the Corona pandemic. With the aim of enhancing its role in raising capital and raising the attractiveness of the market to foreign investors, last week witnessed the Board of the Saudi Capital Market Authority issuing its decision regarding the approval of "instructions for issuing certificates of deposit outside the Kingdom."

Within the framework of Arab stock exchanges' keenness to consolidate the link between investors and companies listed on the markets, the Dubai Financial Market and Nasdaq Dubai are currently working on implementing a comprehensive program of excellence in the field of investor relations to encourage listed companies to strengthen their relationships with shareholders. In the same context, the Kuwait Stock Exchange adopts many of the measures it took in general during the period of the Corona pandemic, to support investor relations and reduce the repercussions of the pandemic on investors in the stock exchange .

In order to provide best practices in the field of modern technologies that serve the development of markets, the Amman Stock Exchange held remote training workshops for financial intermediation companies to train on the new electronic trading system (OPTIQ), which is expected to be ready before the end of this year, and which is characterized by its keeping pace with the latest developments On the level of electronic trading systems in terms of efficiency and speed in receiving and processing buy and sell orders, the ability to trade in new financial instruments, and to link it effectively with the systems and applications related to the trading system .

In terms of market value, the Arab financial markets achieved an improvement in the level of the market value of the listed securities during September 2020, as the market value increased by 2.7 percent compared to the end of August. Eight Arab stock exchanges recorded an increase in their market value, while five other Arab stock exchanges witnessed a decline. The Bahrain Bourse came at the forefront of the Arab bourses that witnessed an increase in the market value at the end of the month of September transactions, as the market value of the shares listed on the Bahrain Bourse increased by nearly 3.88 percent to reach about $ 2.4 billion, driven by the active trading of the commercial banking sector during the month of September 2020. While the Kuwait Stock Exchange achieved gains at the level of its market value at the end of September, to an increase of 3%.

While five Arab stock exchanges recorded a decline in the market value, on top of which the Egyptian stock exchange came, where the market value decreased by 1.93 percent during the month of September 2020, to reach 39.2 billion dollars compared to 40 billion dollars at the end of the August transactions, reflecting the decline in the shares listed in a number of sectors Listed in the market.

 
The full version of the issue is available at this link




https://www.amf.org.ae/ar/bulletin/arab-financial-markets-monthly-bulletin-third-issue







https://www.amf.org.ae/ar/content/%D8%B5%D9%86%D8%AF%D9%88%D9%82-%D8%A7%D9%84%D9%86%D9%82%D8%AF-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A-%D9%8A%D9%8F%D8%B5%D8%AF%D8%B1-%D8%A7%D9%84%D8%B9%D8%AF%D8%AF-%D8%A7%D9%84%D8%AB%D8%A7%D9%84%D8%AB-%D9%85%D9%86-%D8%A7%D9%84%D9%86%D8%B4%D8%B1%D8%A9-%D8%A7%D9%84%D8%B4%D9%87%D8%B1%D9%8A%D8%A9-%D9%84%D8%A3%D8%B3%D9%88%D8%A7%D9%82-%D8%A7%D9%84%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D8%B9%D8%B1%D8%A8%D9%8A%D8%A9
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International Monetary Fund: We are ready to support Iraq Empty THE ARAB MONETARY FUND ORGANIZES THE SIXTH EXTRAORDINARY REMOTE MEETING OF THE DIRECTORS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY

Post by claud39 on Wed Oct 07, 2020 1:31 pm

THE ARAB MONETARY FUND ORGANIZES THE SIXTH EXTRAORDINARY REMOTE MEETING OF THE DIRECTORS OF BANKING SUPERVISION AND FINANCIAL STABILITY IN CENTRAL BANKS AND ARAB MONETARY INSTITUTIONS ON THE IMPLICATIONS OF THE CORONA VIRUS ON FINANCIAL STABILITY
2020-10-07





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Tuesday, 6 October 2020

15:00 to 17:30 Abu Dhabi time

Those gathered to discuss:

Ways to use capital and liquidity margins in the event that the crisis extends to the end of the year

Available options if the crisis continues beyond the end of this year

Evaluate systemic risks that may threaten financial stability

Methods of balancing between supporting the needs of the public and private sectors for liquidity and maintaining the strength of the banking sector

The role of macroprudential policy in support of other economic policies in the recovery phase

 



Today, Tuesday, October 6, 2020, the Arab Monetary Fund is organizing the sixth virtual extraordinary meeting (remotely) to discuss the implications of the new Corona virus on financial stability, banking supervision and credit information.



The meeting will be attended by directors of the financial stability, banking supervision and credit information departments of central banks and Arab monetary institutions, in addition to the Arab Monetary Fund, which assumes the technical secretariat of the committees and working groups emanating from the Board of Governors of Central Banks and Arab Monetary Institutions. 



The meeting will also be attended by representatives of regional and international institutions, including the International Monetary Fund, the World Bank, the Bank for International Settlements, the Institute for Financial Stability, the Basel Committee on Banking Supervision, the International Federation of Deposit Insurance Institutions, the International Federation of Insurance Supervisory Authorities, and the Bank of England.



The holding of this meeting comes at a time when the Corona pandemic continues to spread worldwide, and the risks and the economic, social, financial and banking risks and repercussions are increasing. This unexpected situation has generated additional pressures on supervisory and supervisory work, as the supervisory authorities seek to limit the negative impact of the virus's repercussions on the financial and banking sector and its safety.



The meeting is held in these exceptional circumstances, to discuss the repercussions of the Corona virus on the foundations of financial stability in the Arab countries. The meeting will contribute to dialogue and exchange of views and experiences on developing policies and tools related to enhancing financial stability in the Arab countries, in order to limit the effects of the virus on financial stability. 



The meeting will also discuss the role of macroprudential policy tools in the current and next phase until the end of the year 2020, especially capital and liquidity tools. Discussions will also be made on how to achieve a balance between the needs of the public and private sectors for liquidity on the one hand, and preserving the strength of the banking sector on the other hand. The role of the macro-prudential policy in supporting other economic policies in the recovery phase will also be discussed.



On the other hand, the meeting will discuss a number of important issues that concern aspects of banking supervision, including the role of banking supervision in the next phase in light of the current circumstances, and assessment of credit risks, operational risks and market risks in the current and next stage.



 The meeting includes presentations from the Monetary Fund, the World Bank, the Institute for Financial Stability, the Basel Committee on Banking Supervision and the Bank of England, on the latest developments related to the implications of the Corona virus on the elements of financial stability, and aspects of banking supervision.



In this context, His Excellency the Director General of the Chairman of the Board of Directors of the Arab Monetary Fund indicated that continuing to hold these extraordinary meetings comes to confirm that maintaining financial stability in Arab countries is considered one of the priorities of central banks and Arab monetary institutions, given that financial stability is closely linked to economic and social stability in the region. Countries.



 His Excellency also affirmed the increasing interest shown by Excellencies, Governors of Central Banks and Arab Monetary Institutions, for the work of committees and work teams, and the prominent role they play as a platform for dialogue, knowledge transfer and exchange of experiences and expertise among Arab countries regarding this important topic. His Excellency renewed his wishes that our dear Arab countries and the countries of the world will be saved from this epidemic, and that we will quickly overcome the repercussions of this crisis.






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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Thu Oct 08, 2020 4:28 am

@claud39 wrote:To be sure you understand what I'm doing !!

I send you all the news that comes from the central bank of iraq to see their follow-up in their change on their banking structure, and the news of the arab monetary fund, since iraq is a member, and even iraq follows the new directive of the arab monetary fund, you will notice that the arab monetary fund, and iraq are working on financial inclusion in the middle east !!

Good follow-up !!!


Claud (Moose)
Yes Claud, I understand what you are doing.

You are more than welcome to keep pointing out to me the improvements to the banking sector, electronic payment solutions, MOU's of foreign countries, inclusion and ascensions to major organizations, etc. All they are doing is setting the stage to further grow the economy and to continue to fight the corruption, waste, etc.

It would be beneficial to the forum, and to it's members, if those news posts were more visible on threads of their own, but you do what you think is best. It doesn't make a difference to me either way, since I will see them in one form or another.
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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by claud39 on Thu Oct 08, 2020 1:53 pm

@RamblerNash wrote:
@claud39 wrote:To be sure you understand what I'm doing !!

I send you all the news that comes from the central bank of iraq to see their follow-up in their change on their banking structure, and the news of the arab monetary fund, since iraq is a member, and even iraq follows the new directive of the arab monetary fund, you will notice that the arab monetary fund, and iraq are working on financial inclusion in the middle east !!

Good follow-up !!!


Claud (Moose)
Yes Claud, I understand what you are doing.

You are more than welcome to keep pointing out to me the improvements to the banking sector, electronic payment solutions, MOU's of foreign countries, inclusion and ascensions to major organizations, etc. All they are doing is setting the stage to further grow the economy and to continue to fight the corruption, waste, etc.

It would be beneficial to the forum, and to it's members, if those news posts were more visible on threads of their own, but you do what you think is best. It doesn't make a difference to me either way, since I will see them in one form or another.


OK !! I also understand what you want to tell me, I was doing this just so that there is a follow-up on the banking system, and government !!

But if it can help forum members to have a better follow-up by having their own post, no problem I will do that, I have no problem with that !!

I am in preparation for my departure for the hunt, so I will share this way when I get home !!!

Have a good week everyone, I'm leaving tomorrow at supper time, and I don't come back before October 18 for my treatment for Monday October 19, normally I have to return to the chalet on October 20 to come back only on October 25 !! !


Claud (Moose)
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International Monetary Fund: We are ready to support Iraq Empty Re: International Monetary Fund: We are ready to support Iraq

Post by RamblerNash on Fri Oct 09, 2020 10:12 am

"the banking system, and government !!" is what is going to determine the economic outlook, foreign investment, etc.
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