KTFA Members "News and Views" Friday 4-13-18

4/13/2018



Josie: Does any one know if the NDA(non disclosure agreement) still applies?

Frank26: NEVER HAS AT KTFA ................... IMO ............ THAT IS GURU NON-SENSE.

NO ONE IS ABOVE THE OFFICIAL CBI RATE ...............

ANY THING SUGGESTING THEY WILL KNOW BEFORE CBI POST THE RATE CHANGE ................ IS DELUSIONAL AND DISRUPTIVE TO THE TRUE STUDY OF THE DINAR'S............ RD / RI / RV OF IT'S MR POLICY.
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Samson: The budget deficit of 2017 turns into a surplus

The State of Iraq has a budget surplus of 2017 trillion dinars, due to high oil prices in the world market and increase taxes, and the Ministry of Finance spending the most 15.3 trillion dinars and the Interior by 10 trillion dinars and defense 5.4 trillion dinars, and the state spent on the agricultural sector 41.2 Billion dinars and industrial 14.1 billion dinars. LINK
Picture
Seabass: HUGE, BIG, ENORMOUS, a precursor the Art #2. IMHO of course.

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Samson: The central bank goes beyond the red lines

13th April, 2018 Samir al-Nusairi

More than a month ago of the sound monetary policy applications adopted by the bank two years ago. , the seeds of reform in monetary policy began to bear fruit and the cash market began to feel the results These successes appeared in monetary stability, recovery of the Iraqi dinar and its appreciation against the dollar exchange rate. Due to Iraq's unstable political, economic and security conditions.

Surprisingly, however, the appreciation of the Iraqi dinar continued despite electoral rivalries, US threats to Syria, a turbulent regional situation and the impact of Turkish and Iranian currencies. And the decrease in value compared to the Iraqi dinar and thus exceeded the red lines, and that the target set by the Central Bank is to reach the exchange rate of 1200 dinars per dollar has already been achieved, which will be reflected on the decline in demand for the dollar in the window selling the currency and the parallel market in addition to the rise in oil prices,

Revenue reduces the deficit in "This confirms that the central bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the application of monetary policy," emphasizes the main anti-money laundering and financing of terrorism, and strict adherence to international regulations and rules and standards and re-evaluation

And the classification of banks in the light of the extent of their compliance with the compliance regulations and determine the last beneficiary in the window selling foreign currency and work new mechanisms in the pre-emptive control internally and externally led to higher value and purchasing power of the Iraqi dinar,Emerged as the reasons for the recovery of the Iraqi dinar is the plan and procedures for the central bank and cooperation with the banking sector and comply with the instructions and standards issued by the Central Bank.

This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, "mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards,

The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank.

This confirms that the Central Bank and the banking sector played a key role in overcoming the economic and financial crisis, and supporting the state treasury and methods, procedures and new instruments in the applications of monetary policy, "mainly emphasizes the fight against money laundering and terrorism financing, and strict adherence to international regulations, rules and standards,

The light of the extent of its compliance with the compliance regulations and determine the last beneficiary in the window of sale of foreign currency and the work of new mechanisms in the proactive control internally and externally led to higher value and purchasing power of the Iraqi dinar and this means that one of the main reasons for The Iraqi Dinar is the plan and procedures of the Central Bank and the cooperation of the banking sector with it and abide by the instructions and standards issued by the Central Bank. Bank Advisor LINK

Frank26: (Big Smile)

Moviebound: WOW!!! There is a lot of past tense usage in this article.
Samson: Iraq enters electronic banking to catch up with global development

13th April, 2018

The advancement of payments is the most important steps to develop financial systems in Iraq and catch up with developments in the payment systems in the developed world.

The Central Bank of Iraq is taking serious steps to move to make public and private payment systems electronically managed. The bank stressed its desire to develop electronic payment mechanisms in line with global developments and to spread advanced payment technologies in all areas of Iraq without exception, including all transactions for the public and private sectors.

He pointed out that the past days witnessed the organization of a workshop in the province of Maysan addressed the importance of moving to a system of payments developed, as well as the activation of points of sale targeted various segments of the community of the employees of the province and some of its departments, as well as traders and owners of big markets (Malls), restaurants, hotels and others to activate the subject of points of sale And in cooperation with the province of Maysan.

He pointed out that the audience listened to a detailed explanation on the importance of resettlement and the mechanism set by the Central Bank to implement the decisions of the Council of Ministers.

The Governor of Maysan Ali Douai, during his speech at the opening of the workshop on "the importance of this step to be followed by a review of the status of the province in the settlement of salaries of employees," stressing "the freedom of the employee to choose according to his wishes based on the benefits provided by each bank and during the next week will choose all Employee of the bank who sees it fulfills his wishes to be followed by agreement with those banks and start settling salaries, declaring that he is the first to settle his salary in banks.

All banks presented their offers to the staff of the Diwan and other departments associated with the governorate and other departments. It has become increasingly necessary to catch up with global developments, especially in the financial sector, which has adopted advanced systems benefiting from technological developments in the world, because it is commensurate with the requirements of the implementation of work, which has reduced the time and effort much more than before.

And that the transfer of salaries and disbursement through electronic payment is important and a positive shift to achieve great benefit to the national economy and maintain a large proportion of liquidity within the banking system. Work is being done to make electronic payment mechanisms through the Central Bank of Iraq.

The director of training and management in the Association of Private Banks Ahmed al-Hashemi, "the importance of the direction of banks towards electronic banking and information technology, and be dealt with in a precise manner that leads to the completion of financial operations according to the requirements of the customer of different, and thus we have to offer competitive products provided regionally."

He stressed that "global companies and the requirements of reconstruction require sophisticated technology, and Iraq is able to possess technology to produce sophisticated products, especially after the victories on the preacher and the terrorist approach to develop the private sector technology in the detailed human resources." LINK