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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Alaq stresses the importance of achieving stability in the dollar price and the necessity of chan

    Rocky
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    Al-Alaq stresses the importance of achieving stability in the dollar price and the necessity of chan Empty Al-Alaq stresses the importance of achieving stability in the dollar price and the necessity of chan

    Post by Rocky Sat 21 Oct 2023, 4:11 am

    Al-Alaq stresses the importance of achieving stability in the dollar price and the necessity of changes in the trade system
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    Baghdad today - Baghdad 
    Today, Saturday (October 21, 2023), the Governor of the Central Bank, Ali Al-Alaq, stressed the importance of achieving stability in the price of the dollar and the necessity of making changes in the trade system.
    Al-Alaq said during his speech at the annual Iraqi banking conference held in the Kurdistan region, “ The need for a stable financial system lies in accompanying financial electronic systems, and this is one of the priorities of the Central Bank, and establishing the rules of compliance, transparency, and safety of financial operations .  ”
    He added that "the transition from the cash economy to the digital economy and the accompanying measures achieved a qualitative shift between the Iraqi government and the Central Bank of Iraq," noting that "the implementation of a road map for banking financial reforms is the first new map characterized by international standards that keep pace with global developments in the field of the digital economy." "Money . "
    He continued, "Strengthening international relations, including establishing a network of relations with foreign banks," stressing that "increasing the role of the Central Bank to create a pioneering bank and redirecting work on initiatives for small and medium enterprises. "
    For his part, the President of the Union of Arab Banks and Deputy Governor of the Central Bank of Egypt, Mohamed Mahmoud Al-Etreby, stressed in a speech during the same conference “the role of the Central Bank of Iraq and Arab banks in strengthening the role of local and international banks in increasing confidence in the volume of financial transactions between them,” pointing out that “the volume of Economic challenges and high inflation in the world have greatly affected global investments in various sectors.”
     During the conference, the head of the National Investment Commission, Haider Makkiya, also called for “a greater role in financing projects, especially residential ones, to achieve a balance between the investor and the banks . ”
    For his part, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, pledged during the conference to “transform financial transactions in the region to electronic ones within a period of two years . ”
    Barzani said, "Merchants will not have to carry large sums of money, but rather they can manage their money online . "
    He added, "We decided to support banks' expansion plans by opening bank accounts for workers in the private sector, similar to the public sector, where services will be provided to hundreds of thousands. In addition to encouraging banks to increase their branches throughout the entire Kurdistan region . "
    The head of the regional government continued by saying, “It must be recognized that public sector banks have not been able, so far, to provide the needs of citizens,” noting that “reliance on cash money has put an end to economic growth in the Kurdistan region and increased the opportunities for fraud. ”
    He stressed that "the regional government will provide all support to private banks to increase their services, and our goal is to create healthy competition between banks where citizens can choose what they want," noting that "we are continuing to cooperate with the federal government in combating money laundering and stabilizing the Iraqi currency, expressing his happiness." In light of the progress achieved during the current year in the field of combating money laundering and terrorist financing, he stressed “the intensification of efforts in this field, and we will do what we can.”
     
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