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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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MilitiaMan and KTFA Members "Financial Inclusion"

rocky
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MilitiaMan and KTFA Members "Financial Inclusion" Empty MilitiaMan and KTFA Members "Financial Inclusion"

Post by rocky Fri 05 Apr 2019, 2:37 am

[size=24]MilitiaMan and KTFA Members "Financial Inclusion"

4/4/2019
Go to Comments [/size]
 
KTFA:

Samson:  Association of Iraqi private banks holds a preparatory meeting for the day of financial inclusion

4th April, 2019

The Association of Iraqi Private Banks on Thursday held a preparatory meeting for private banks, financial payment companies and the Central Bank of Iraq on the day of financial coverage, which starts on April 25, while the meeting was held at the station building in central Baghdad

At the beginning of the meeting welcomed the Executive Director of the Association Ali Tariq private banks that attended the meeting, indicating that the number of attendance today bodes well, stressing that the role of the private bank is the most important and the largest on the occasion of the day of financial inclusion, in addition to the support of the Central Bank of Iraq
....



Tarek pointed out that the reason for the establishment of financial inclusion is to address the weakness of the public in the banking culture, pointing out that this year will see an increase in access to larger provinces by adding the Kurdistan region of Iraq and the province of Basra, as well as intensify the exhibitions in Baghdad

The CEO of the Association noted that this year will see the establishment of a prize for the best bank participating in the day of financial inclusion, in order to motivate the rest of the banks to provide the best it has

Ali Tariq called on banks to make more efforts to produce a new product, and called on banks to come out with data to prepare a final report on the outcome of the day of financial inclusion

For her part, the Assistant Director General of Payments Department at the Central Bank, Iman Adnan, said that the award will be given to the bank to be the banking awareness department in the winning bank, calling to go to groups other than students, such as women
There were interventions by representatives of banks and inquiries and views on financial inclusion

For his part, Deputy Executive Director of the Association of Iraqi private banks, Ahmed Hashemi during the meeting to get down to the street and target the public is not familiar with this concept, pointing out that the lack of participation of private banks in the provinces will be a negative indicator

There were also interventions by banks, including ideas and proposals to serve the day of financial inclusion, and included the use of ministries as a target group in order to spread the culture of localization of salaries

It was agreed that next Sunday will be a date for a second meeting with private banks for the purpose of providing banks proposals for their activities to the Central Bank on the day of financial coverage, which starts on the twenty-fifth of this month   LINK



Tommy17:   IMO they r telling they’re  banks something is gonna happen around the 25th.  

MarkPam:  IMO, "if" this is the day for banks to compete for business with the citizenry than a "reason for change" must be established well before the "event" itself.  Change is difficult but can be managed which is what I perceived from the article.  Banks are to submit their concepts to draw in customers to assist in adoption of the new financial system developed and ready in Iraq.

The key point: People need a "reason" to change and go into the bank...and they cannot announce it on the 25th and expect people to show up that day.  Plan and purpose!!!  Again, IMO

Popeye7:  I was thinking the same thing MarkPam... They need a purpose to go into the banks.. They can plan, and try to entice them with all of gimmicks till they are blue in the face... But we all know the only way the average Iraqi is going to bring their currency into these banks is through a change in value in order for them to receive the lower denoms as well... IMO...

How long have they tried already to get their fellow citizens through enticements to utilize, and trust the banks within Iraq?...

There is only ONE way to get this done, and follow through with this inclusion plan set for the 25th of this month.. IMHO... And as you stated, it has to happen before April 25th to ensure this plan will be effective... 




MilitiaMan:  Financial Inclusion is a hot topic for not only the IMF but the Bank of International Settlements and the World Bank.

Think about it why are they working so close with Private Banks? Because, imo those that have a lot of wealth or will have a lot in the short term will use them.. They will bring in their wealth to the banks for to exchange it into the new products. Won't Private Banks need the new small category notes to facilitate their new beginning into a market economy?

The wealthy own businesses and will need new product for daily transactions. Grocery store owners, barbers, salons, cigar shops, liquor stores. (lol) They will also need the ability for the markets to do Foreign wire transfers for those that do international trade. 

So lets go back to last week the IMF in an article imo implied or demanded Iraq to raise their exchange rate. Then after market closed on Monday the FED/UST was shut down for a period of time. Keep in mind that our Markets Rallied Monday and possibly trillions of dollars were said to have moved. (It takes a lot of money to move the DOW up 400 points+-) 

The FED allocated 26 hours for what ever reason they felt appropriate starting at 5:55 pm EST, however, it may have only needed to be down as little as three hours, regardless it is imo an indicator, as it was in respect to or at leas in part for foreign wire transfer codes.

Then we see the World bank come out Tuesday and say that Iraq is to have a remarkable economic recovery in 2019. Then the next day sign MOUs with Iraq for reconstruction projects. 

What we haven't heard much of is the extent of where the ISX is with the NASDAQ. Now recall the VP Pence told Halbousi to activate investments for reconstruction, then there was same circumstance from Pompeo and then McConnell speaking about American Businesses to get into Iraq now. See the connections?

FED Reserve preparing for international (foreign) trade through wires. Not uncommon, but, the timing is fascinating.  Think about this too. All that money moved in the market Monday pre notification of the closure of the FED for a period of time on Monday/Tuesday?

It is like the markets new they were going to do that. Now here is something that has me thinking. The NASDAQ show cased the ISX in New York pushing three weeks ago now. 

If the ISX /NASDAQ  decide to go live and hook up in the short term, they would have had to let businesses know they have the ability to move large amounts of money in and out of foreign economies.

The implications to me are that if the ISX links to the Nasdaq the minimum open price for shares is $4.00, with qualifying circumstances at $3.00 and $2.00. That tells me a story. That has a chapter on exchange rates. We'll have to wait to read it though.. lol

What a way to support the IQD is by bringing in foriegn investors into their Stock Exchange. All those USA companies McConnell may have fired up can now move money in an out with ease. Something these Private Banks will be involved with! Enjoy your day, as mine is bright as can be!! 

By the way thanks Frank for the shout out, sorry I am late.. Smile! ~ MM 

"Functions of Private Banks

Private banking is banking, investment and other financial services provided by banks to high-net-worth individuals (HNWIs) with high levels of income or sizable assets. Private banking forms a more exclusive (for the especially affluent) subset of wealth management. "

https://www.imf.org/en/News/Articles/2018/09/28/pr18366-imf-releases-the-2018-financial-access-survey

https://www.bis.org/speeches/sp181106.htm

https://www.worldbank.org/en/topic/financialinclusion

fa·cil·i·tate  /fəˈsiləˌtāt/  Verb make (an action or process) easy or easier.
"schools were located on the same campus to facilitate the sharing of resources"
 
synonyms:
make easy/easier, ease, make possible, make smooth/smoother, smooth, smooth the path of, smooth the way for, clear the way for, open the door for

https://www.armstrongeconomics.com/international-news/china/china-cips-v-western-swift-system/

https://www.investopedia.com/ask/answers/nasdaq-listing-requirements/
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MilitiaMan and KTFA Members "Financial Inclusion" Empty More from MilitiaMan and KTFA Members Thursday PM 4-4-19

Post by rocky Fri 05 Apr 2019, 2:40 am

[size=24]More from MilitiaMan and KTFA Members Thursday PM 4-4-19

4/4/2019
Go to Comments [/size]
 
KTFA:

RE:  MilitiaMan Post:

Popeye7:  IYO, do you believe a change in value would need to be done before the inclusion event of April 25th takes place?... IMO, it would seem so to ensure a smooth transition... 

MilitiaMan:  Now that you bring it up about the 25th? Don961 made an interesting observation about they way they show dates. Not always accurately described.. Like 30 should read 03..

So look at the above chronology of events and ask your self why would the broadcast that 25th date? Could they be throwing out propaganda in a way we wouldn't expect? Could that be for the corrupt politicians? Keeping the leaks to pin hole size.. I believe like yesterday the article about trade in Dinars was similar news that makes little to no sense, unless one can decipher past history of how they report things and when.

So could they be saying 2-5, April 2019? Notice they say NEXT SUNDAY.. That is this weekend. Word on the Street they were celebrating on 2nd and not for the Imam as they said.. imo..

Word from across the pond there may be some important announcement from the USA / DC coming up as early as tonight through tomorrow. Not sure what exactly, but, it could be the Deal of the Century? Lets not forget the meetings with Egypt, Jordan and Iraq and that was referenced in articles.. Some more things to think about.. imo !~ MM 
....



**************

Popeye7:   I agree that they would not telegraph their intentions at all... Blinky brought up the fact that their month of April begins on the new moon which is the 5th of April being tomorrow... Tomorrow into the weekend sounds like a very plausible situation...

Especially considering last week IMF demands the release of the dinar internationally, as well as the what transpired with the Fed's wire service earlier in the week...

We have several reporting that there was unusual activity at their local banks (one being Chase), and who knows MM... IMO of course... Thanks for your response... Love how you think outside of the box.. We have to as it pertains how this has been handled over the years via the media, and those who control what type of info the public is provided... 

Much to ponder, with excitement in the air IMO

**************

LHill:  I asked this question a week or 2 ago and I never saw anyone answer it.  When you read up on Kuwait and the rise in their exchange rate it states that Kuwait didn't have a RV it just printed new money and then raised the exchange rate. 

So people just brought in their old currency and received new currency, but it wasn't worth more.  I may not understand this correctly, but I was hoping some could touch on this to help understand the difference between what we are wanting and what happened in Kuwait.  Thank you for all you and your team does. 

Osmosis:  I thought Kuwait just reinstated their currency at the old rate prior to the war?  Not sure it was an actual RV....IMO.


Don961:  re-posting .. on top of the Most Read Article list on this news site ...

"I-Dinar" .. the first electronic platform for the Islamic exchange of digital currency


- 16 Days Ago
 
On the sidelines of the 5th International Islamic Finance Conference, the first Islamic platform for the exchange of gold-backed digital currency, I-DINAR, was launched in Doha today.

The I-Din platform is an electronic symbol based on the exchange of digital currency. Its initial value of one dinar is supported against one gram of gold, which is not only a digital currency, but for a real gold eye.

With the golden cover of the coin, "I-Dinar" is not only a symbol but a form of electronic gold portfolio. With the remarkable progress in the electronic exchange chain technology, i-Dinar can be used as a common denominator for executing and settling many financial transactions and exchange operations And trade.

Through this currency, Qatar offers the latest e-currency concept and technology distinct from the others in the quality of technology and applied standards. In addition, the currency reflects real value that can be obtained at any time, while achieving the principle of maintaining the assets owned by the client and the speed of implementation Any financial or commercial transactions in full compliance with Islamic law.

The announcement was made as a result of extensive work, studies and meetings between a team from the Qatar Financial Center, the Board of Directors of Qaf Holding Group and the Malaysian IbadahInc Foundation.

The Chairman of Qaf Holding Group Khalid Al Suwaidi said that the i-dinar platform initiative is an indication of the increasing awareness and economic culture of the State of Qatar and its understanding of future changes and requirements despite all the challenges in general. This is an unprecedented achievement on the ground to develop cooperation, trade and prosperity. Economic and wealth of the Islamic world in the face of the challenges of the age and rapid digital economic development in particular.

Al- Suwaidi said Al-Suwaidi expected the new platform to achieve a great deal of resonance in the near future because it achieves two important goals. The first is to acquire a sophisticated digital currency that has confidence in customers. The second is that the currency, , Which will increase the confidence of scientists in dealing.

He added that the currency in its current form has passed all stages of the test even through Islamic standards in dealing with currencies as a real currency has a real balance similar to the currency backed by a gold balance, pointing out that this currency has taken the criteria of universal acceptance and technological development in terms of accuracy and security.


The spokesman for the Malaysian Cultivation Establishment Abbas Ali explained that the purpose of the platform was to facilitate and implement multi-product digital financial transactions that allow the trading of "i-dinar" with or for any other goods or products or coded currencies or any combination of solutions Financial instruments, as well as financial and commercial contracts from anywhere and at any time worldwide easily and conveniently.

He said the new currency was a huge technological revolution in the world, being the first "mixed" digital exchange of its kind in the world, using a digital symbol supported by gold and has real value.

The 5th Doha Islamic Finance Conference, held under the title "Islamic Finance and the Digital World", was launched today. The conference aims at presenting the experiences of the central banks in dealing with digital financial developments and their potential risks. Legal and technical standards and the importance of the digital economy and its role in achieving sustainable development goals.

In its fifth edition, the conference focused on discussing the effects of digital development on Islamic finance, through its main interlocutor, reviewing the experiences of the central banks in light of the major changes in the world of business and finance due to the enormous and significant development of information technology. Financial institutions and banks to quickly study their future opportunities and the possibility of transition to the digital world.
Source: Al Jazeera      link


Samson:  Al-Qasabi: Iraq provided 186 investment opportunities to Saudi Arabia   LINK

MilitiaMan:   Now they are talking going from planning to implementation phase. The MOUs are going to facilitate trade. We were told months ago, SA wouldn't come in until Iraq was ready and it sure looks like they are making the move now. They supply electricity to Iraq now. Mining, refining, etc, are all very energy reliant.. As is reconstruction of a country. This is telling us they are  imo ready to go global and they are going to be the Central Hub once again for the Middle East at large. imo ~ MM 

******************

Samson:  Iraq spends $ 30 million annually on travel of officials and allowances

Iraq has spent 30 million dollars a year on foreign spending and travel, officials said on Thursday, noting that the cost is the highest in the region.

"Various Iraqi government and parliamentary sources estimate the annual expenditure by the state on travel of officials abroad, in the context of what is known locally as "foreign dividends", by more than 30 million US dollars," the New Arab newspaper said in a report. , Including the Presidency of the Republic as well as the Prime Ministers and the Parliament and ministries and other governmental institutions in the country.

The newspaper added that "the highest cost at the level of the countries of the region, especially since it was customary to accompany the official family or even his friends in his travel dedicated to the functions of official public interest," noting that "an Iraqi parliamentary bloc is preparing to launch a broad campaign aimed at pressure on the government To classify the file "Foreign Deposits" one of the "doors of corruption" in Iraq, which Prime Minister Adel Abdul Mahdi, it is dozens and consume public money.

The newspaper quoted an official as "high-level" in the Office of Prime Minister Adel Abdul-Mahdi as saying, "Iraq is sending monthly at least 20 delegations from various ministries and institutions to several countries, including at least 10 delegations useless, "It is possible to accomplish many tasks through correspondence or video interviews and telemedicine," noting that "the strange is to accompany the official with his family, with the cost of the Iraqi state, but in twisted ways, through which circumvention of the law to include the expenses of the family of the official under other headings". 

"The same applies to Iraqi parliamentarians who took their families and relatives with them during official foreign missions.   LINK


Samson:  Next Saturday .. Launch of the World Economic Forum in Jordan

4th April, 2019

The World Economic Forum will be held in Jordan next Saturday, the first of its agenda for the year

The World Economic Forum is being held under the theme "Building new systems of cooperation", the tenth time in Jordan, and will continue for two days

The forum is attended by UN Secretary-General Antonio Guterres and Palestinian President Mahmoud Abbas at a session expected to be attended by 1,000 government leaders, heads of companies and civil society representing 50 countries around the world

The Forum will be attended by Egyptian Minister of Tourism Rania Al Mashat, Khalid Al Rumaihi, CEO of Bahrain Economic Development Board, Thani Al Zaidi, Minister of Climate Change and the UAE Environment, and Alan Bajani, CEO of Majid Al Futtaim Holding Group

The Forum will also be attended by Wafa Bin Hussein, Middle East and North Africa Policy Advisor, Sumatra Chakrabarty, President of the European Bank for Reconstruction and Development (EBRD), Tony Chan, President of KAUST, and Sigrid Kag, Minister of Foreign Trade and Development Cooperation of the Netherlands

The first day of the forum begins with a press conference to introduce the main participants to the forum at 8:45 GMT, separated by two sessions entitled "New Standard for Public Education" and "Cyber ​​Risk Management

The opening session will begin at 10:30 GMT, followed by a session entitled "shaping the future of tourism in Jordan" and an 11th and a half press conference entitled "Global Shippers Launches Centers in East and West Jerusalem

The first day also includes a number of seminars entitled "New Energy for the Middle East", "Geopolitical Outlook" and Special Notes: On the Middle East

At 1:30 pm, a press conference will begin with the Chief Executive of the Islamic Republic of Afghanistan, followed by Galtsin entitled "The Rise of Arab Women" and "The Shape of Cities Surrounded by Man

At 3 pm a press conference entitled "Launching the People's University" begins, and another on "What can be done to advance gender diversity", the "Reconciliation and Reconstruction" symposium and the "Start Revolution

And at 5 pm meeting with Saudi Minister of Energy and Industry Khaled Al-Falih

And a symposium entitled "Eurasia in the New World Context

On the second day, several seminars will be held: "Environmental Supervision in the Arab World", "Digital Retailing" and Fourth Industrial Revolution in the Arab World

The "two-state solution in a multi-concept world", "extremism: lessons from the past", "infrastructure expectations" and building new platforms for cooperation  
 
MilitiaMan:  With them speaking in terms of Industrial Revolution and a close neighbor and trading partner to Iraq, we can be assured that Saudi Arabia has energy on the mind for to feed Iraq electricity among other things that may include natural resource extraction, etc.. Not to mention reconstruction efforts as Iraq is Central to the region in many ways. ~ imo MM

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