Established in 2006 as a Community of Reality

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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.

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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


5 posters

    Exchange rate stability and real banking work

    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 274085
    Join date : 2012-12-21

    Exchange rate stability and real banking work Empty Exchange rate stability and real banking work

    Post by Rocky Thu May 10, 2018 5:31 am

    Exchange rate stability and real banking work

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    A new decision was issued by the Central Bank of Iraq to allow banks with capital of less than 250 billion dinars to participate in the window selling the currency and increase the weekly share of the dollar to banks, which will contribute to increase the supply of the dollar in the circulation of foreign currency in order to maintain the stability of the exchange rate and overcome and meet some pessimistic expectations Which is speculated by speculators that the dollar exchange rate will increase during the elections or cause the circumstances of the US escalation against Iran and for the purpose of assigning the decisions of the Central Bank requires Iraqi banks and branches of foreign banks to go to real banking And activate the financing of small and medium-sized enterprises and to provide modern banking electronic products and to attract deposits and participate in the establishment of a deposit insurance company and the establishment of the two companies Aloutnettin to finance large projects which contribute to the two traditional banks, participatory and cooperation with the Central Bank in the implementation of its policy in support of the development of the banking sector as directed Mr. Governor last in the monthly meeting of the last monthly banking leaders and meeting with banks participating in the recent banking conference in Istanbul and stressed the sovereignty of the stability of the exchange rate and the recovery of the Iraqi dinar and this goal will remain one of the central bank's objectives, which requires banks sooner or later leave the total dependence on the window Selling Foreign Currency It is time to move on to the practice of real banking, which is to provide modern banking products to the public and provide the best services to customers and work to increase the degree of financial coverage. And that the banking sector has a key role and important in the development and revitalization of the economic cycle and pointed out that the stability of the exchange rate should not make banks fear for their future in the banking market. 


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    Wheelman
    Wheelman
    Understood Investor
    Understood Investor


    Posts : 136
    Join date : 2017-12-29

    Exchange rate stability and real banking work Empty Re: Exchange rate stability and real banking work

    Post by Wheelman Thu May 10, 2018 11:54 am

    This is HUGE!
    noced71
    noced71
    Cain't Let Go Investor
    Cain't Let Go Investor


    Posts : 360
    Join date : 2012-12-19

    Exchange rate stability and real banking work Empty Re: Exchange rate stability and real banking work

    Post by noced71 Thu May 10, 2018 12:52 pm

    I like the following quote from the article...but wondering when!!!??




    "this goal will remain one of the central bank's objectives, which requires banks sooner or later leave the total dependence on the window Selling Foreign Currency"
    Proven
    Proven
    NNP TEAM
    NNP TEAM


    Posts : 1858
    Join date : 2012-12-21

    Exchange rate stability and real banking work Empty Re: Exchange rate stability and real banking work

    Post by Proven Thu May 10, 2018 3:01 pm

    Thanks Rocky.



    Does the currency auction need to end to bring the rate down?  Answer: No.

    Flooding the country with dollars due to the increase in economic activity. 

    Sounds like economic expansion.

    And activate the financing of small and medium-sized enterprises
    Lobo
    Lobo
    Moderator
    Moderator


    Posts : 28411
    Join date : 2013-01-12

    Exchange rate stability and real banking work Empty Re: Exchange rate stability and real banking work

    Post by Lobo Thu May 10, 2018 3:02 pm

    Thanks Rocky, this is the second time an article addressing "real banking" has come out - this tells me the CBI is pushing the banking industry in Iraq to finalize their bank's policies because the currency window will end and when it does, if those banks are not ready, will be out of business.

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    Exchange rate stability and real banking work Empty Re: Exchange rate stability and real banking work

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