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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Rocky
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    • Post n°1

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Rocky Sun 24 Dec 2017, 2:49 am

     Central Bank: Flooding of the dinar is difficult to apply in Iraq



    12/24/17



    Economy News Baghdad:
    The governor of the Central Bank, Ali al-Alaq, that floating the dinar is difficult to apply in Iraq because the government monopolizes the dollar, indicating that the reserves of Iraq is 48 billion US dollars.
    Al-Alak said in an interview with Al-Arabi African newspaper and read by "Economy News" that "the oil countries usually rely on a fixed exchange rate, or fixed with flexibility, and do not resort to float method, unless their reserves are controlled to a level below the adequacy, which is not Whether in Iraq or other oil states, "noting that" flotation is difficult to apply in Iraq, considering that the government, de facto, monopoly the offer of the dollar and foreign currencies. "
    He added that "Iraq's reserve of the dollar is 48 billion US dollars."
    He pointed out that "there is an understanding and coordination between the Central Bank and the government through the Ministry of Finance, and in this regard has formed a Higher Coordination Committee between the Ministry and the Central Bank; therefore, work together through the program of credit readiness with the IMF, as this program includes reforms and procedures related to Mainly economic, financial and monetary structures. "
    "At this stage, the Central Bank of Iraq is focused on achieving the concept of" financial inclusion "and its applications, as the circumstances of previous years did not help because of the security and financial instability, the bank has developed a short-term and long-term plan to expand the application of this concept, That "the short-term plan aims to agree with the government to deposit salaries of all state employees in banks, which will add more than 3 million people to deal with banks, and long-term resettlement."



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    • Post n°2

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Proven Sun 24 Dec 2017, 8:20 am

    Thanks Rocky,


    Here is the new monetary policy "financial inclusion".  

    "At this stage, the Central Bank of Iraq is focused on achieving the concept of" financial inclusion" and its applications, as the circumstances of previous years did not help because of the security and financial instability, the bank has developed a short-term and long-term plan to expand the application of this concept, That "the short-term plan aims to agree with the government to deposit salaries of all state employees in banks, which will add more than 3 million people to deal with banks, and long-term resettlement."


    "Financial incluslon" means expansion of the money supply and start the recycling of the currency!


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    The CBI Governor is also stating that the period of security and financial instability is over.  This is significant requirement for the delete the zeros project!


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    • Post n°3

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by fonz1951 Sun 24 Dec 2017, 8:39 am

    Financial incluslon" means expansion of the money supply and start the recycling of the currency!   is that a bingo?
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    • Post n°4

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Neno Sun 24 Dec 2017, 8:56 am

    Financial Inclusion - World Bank Group
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    Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.
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    • Post n°5

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Governor of the Central Iraqi Dinar Flooding difficult to apply

    Post by Rocky Sun 24 Dec 2017, 9:07 am

    Governor of the Central Iraqi Dinar Flooding difficult to apply

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    Alalak comments on the sidelines of the third conference of the Iraqi Center


     24 December 2017 04:12 PM
    Direct : The governor of the Central Bank of Iraq that the flotation of the Iraqi dinar difficult to apply as a monopoly of the government to offer the dollar and foreign currency in the country.
    Ali al-Alak said in an interview with the newspaper “Arab African” Iraqi, that the oil states rely on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating the currency, which is not happening, whether in Iraq or other oil countries.
    Al-Alak pointed out that the [You must be registered and logged in to see this link.] a correct step [You must be registered and logged in to see this link.] but it came too late.
    The Central Bank of Iraq took a series of measures to achieve financial and economic stability in the country, including the removal of the financial sector from risks and prevention; issuing the law on combating money laundering and financing terrorism in 2015.
    It has also completed the strengthening of prudential supervision and the strengthening of payment systems and electronic payment systems for clearing and settlement operations in order to regulate, control and control banking operations.
    The Governor of the Iraqi Bank, Baghdad’s efforts to achieve the concept of “financial inclusion” and its applications, after the instability of security and financial in previous years without implementation.
    He said that the short-term plan aims to deposit salaries of all state employees in banks, which strengthens the base of customers with more than 3 million people.
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    • Post n°6

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    Post by weslin3 Sun 24 Dec 2017, 9:09 am

    fonz1951 wrote:Financial incluslon" means expansion of the money supply and start the recycling of the currency!   is that a bingo?

    Hope it is BINGO fonz!!! flower
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    • Post n°7

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Neno Sun 24 Dec 2017, 9:12 am

    Ali al-Alak said in an interview with the newspaper “Arab African” Iraqi, that the oil states rely on a fixed exchange rate, or fixed with flexibility, and does not resort to the method of floating the currency, which is not happening, whether in Iraq or other oil countries.

    Question is, "Do you believe what your reading"?
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    • Post n°8

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Proven Sun 24 Dec 2017, 11:53 am

    fonz1951 wrote:Financial incluslon" means expansion of the money supply and start the recycling of the currency!   is that a bingo?


    The goal is to switch Iraq from a net importer to a net exporter.  In order to achieve this end state, their people must produce their own goods and services and stop hemorrhaging dollars (maintaining a foreign exchange balance).  This requires economic reform.  If you know the end state, then it is just a matter of watching how they put all the pieces in place.  

    Excerpts from the above linked article (2013):

    He noted two important application process delete zeros: first choose the appropriate time that the Iraqi economy is in a State of stability, the second is the economic environment thoughtfully to the deletion process, and this needs to actions and decisions taken by financial and banking financial authority in the country.

    Modern Hashmi seal that the implementation of the resolution at this time is inappropriate and is considered too risky for the unstable security situation in the country

    Not ready in in 2013.  According to the CBI governor, these two issues are no longer present!  

    Monetary reform will coincide with economic reform. The delete the zeros project is part of monetary reform.

    So, to your question, is it the appropriate time?

    I do not know.  I can only research and show you the factors that are necessary for implementation.  

    The budget has wage scales  and adjusts for changing the exchange rate.  Also, the budget will start the business (private) sector.  Border control part of it.

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    Today, it is easy for the Central Bank of Iraq to work on the principle of gradually reducing the exchange rate to the extent that it can be equivalent to the dinar against the dollar, so as to accept and digest the process of deleting zeros

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    These are their recent words.....:)


    Last edited by Proven on Sun 24 Dec 2017, 12:03 pm; edited 1 time in total
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    • Post n°9

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    Post by mochasmom Sun 24 Dec 2017, 12:01 pm

    Wow..I still say they need to act fast before Isis or something else rears it's ugly head. They are stable now and they know it. Thanks for the breakdown Proven
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    • Post n°10

    Central Bank: Flooding of the dinar is difficult to apply in Iraq Empty Re: Central Bank: Flooding of the dinar is difficult to apply in Iraq

    Post by Lobo Sun 24 Dec 2017, 12:09 pm

    Thanks everyone, this is really great news, praying it brings a fantastic New Year.

    Dance banna2 banna3
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