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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

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


    MilitiaMan, Frank26 and more...Sunday Afternoon 5-8-2022

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 281327
    Join date : 2012-12-21
    • Post n°1

    MilitiaMan, Frank26 and more...Sunday Afternoon 5-8-2022 Empty MilitiaMan, Frank26 and more...Sunday Afternoon 5-8-2022

    Post by Rocky Mon 09 May 2022, 7:03 am

    [size=30]MilitiaMan, Frank26 and more...Sunday Afternoon 5-8-2022[/size]
    KTFA:
    Clare:   The Central Bank of Iraq 75 years in the face of economic challenges
    05/08/2022 Samir Al-Nusairi
     By the current year 2022, the Central Bank of Iraq will have been 75 years since its founding and carrying out its duties. It has gone through stages of economic and financial challenges and monetary policy applications. During those years, it was in direct confrontation to overcome those challenges and political influences and changes in the economic systems that were prevalent at the time. However, the central bank proved
    It is a solid, sovereign financial economic institution founded in 1947 of the last century. It is specialized in drawing the paths and policies of monetary policy applications, supervision and control over the banking sector, and is considered the financial advisor to the government. 

    His role was essential in managing the economic process in Iraq, and he took over the leadership of his administration, 23 governors, all of whom were distinguished by distinguished technical and administrative specifications. And after the change in 2003 and in accordance with its new law 56 of 2004 and through its management of monetary policy and the achievement of its goals, where Iraq passed during the past 19 years an important stage of its economic system, where the change included the beginning of new applications for economic construction based on building introductions to the transition from the philosophy and strategies of the central economic system in Economics management to the philosophy, strategies and mechanisms of a market economy
    Therefore, the Central Bank of Iraq and the banking sector have taken great development steps towards moving from banking activity to real and developmental activity, especially during recent years. to good rates, as indicated by the financial data and indicators, and that the Central Bank of Iraq was able to maintain for several years the exchange rate of the Iraqi dinar against the US dollar in a balanced manner, despite the fluctuation and variation up and down according to
    Due to difficult economic conditions and financial and economic crises due to the decline in oil prices, the war on terrorism and the speculation that occurs in the markets. Where it is noted that the daily intervention of the Central Bank of Iraq in managing monetary policy tools in light of policy data
     The issuance of instructions, controls, memoranda, and regulations and guidelines that are consistent with international standards and the requirements of regulations and rules for compliance and combating money laundering and terrorist financing, and the issuance of a law regulating this by No. 39 of 2015 and the liquidation of the notes diagnosed by the Financial Action Group (FATF) , which moved Iraq from the gray area to the regular follow-up Every two years and try to control the violations that occur by reviewing, evaluating and classifying banks for the purposes of comprehensive evaluation according to the (camels) system.
    And for the purposes of the foreign currency sale window, with the aim of controlling the movement of foreign currency and limiting its disposition, other than the specific economic goals of monetary policy applications.
    As dealing with the sale of foreign currency is one of the largest open market operations in controlling the levels of local liquidity and putting the cash surplus in its proper tracks, and it is a good economic indicator that the exchange rate will be stable despite the difficult economic conditions that Iraq went through
    After 2014 and 2020, the Central Bank of Iraq was also able Maintaining a good foreign cash reserve that exceeded 65 billion dollars, in addition to its gold reserves, despite the conditions of recession and economic depression. Re-discounting treasury bonds issued by the Ministry of Finance and issuing international treasury bonds, in addition to the World Bank’s praise of the economic and financial reform programs adopted by the Central Bank in accordance with its first and second strategies for the years (2016).
    The Central Bank according to its first and second strategy for the years (2016The Central Bank according to its first and second strategy for the years (2016- 2023) and its expectations of    good growth rates during the current year for the Iraqi economy , recording progress at the level of Arab countries . And the formation of a joint committee between him and the finance department to coordinate between the fiscal and monetary policies, and many coordinating measures were achieved because of this .
    The calculated and bold economic and financial measures undertaken by the Central Bank and its successful experience in providing continuous support to the Iraqi economy, in addition to its initiative to revitalize the economic cycle, launch and follow-up the implementation of its multiple initiatives to finance small, medium, housing and investment projects in the housing, agriculture, industry and services sectors, support banks’ liquidity and achieve two economic and social goals in At the same time, other important measures have been taken by establishing the Deposit Insurance Company, which has begun its tasks for the purpose of restoring confidence in the banking sector and increasing the savings rate for the monetary mass in banks at the expense of the hoarding ratio.
    All this was accompanied by structural, structural and developmental developments in all the specialized and qualitative departments of the bank, focusing on total quality management, institutional development, adoption of international standards, compliance with rules and regulations for compliance, risk management, combating money laundering and financing terrorism, banking awareness and technical developments in payment systems,
    Electronic payment and information technology, which contributed to the transition of policies The Central Bank’s work procedures have reached an advanced stage in the pace of achieving economic stability.
    * Advisor to the Association of Iraqi Private Banks LINK 
    ~~~~~~~~~~ 
    MilitiaMan:  The take away I see is they have accomplished the necessary goals to get them to the advanced stage of going into a market economy.
    So those of us that have been here awhile should be able to see just how far they have come over the past 19 years.
    They have been taken out of the Gray area, removed from sanctions of Chapter VII, accomplished E-Government, E-Payments and Automated the borders and ports and increased revenues outside of oil..
     When the Central Bank talks we should listen. They use the wording advanced stage now.. They use the terms Market Economy now..
    Well, once Article VIII with a new rate they'll have the Entitlements and Food Security in the bag.. Very promising and timely article. imo ~ MM
    ************
    Courtesy of Dinar Guru
    Frank26   Article:   "Iraq...Ambiguity surrounding the 2022 budget"  What's in the budget... the new exchange rate... Quote: "calls to restore the exchange rate of the dinar against the dollar to its previous era."  There is no ambiguity.
    Pimpy  Article:  "Al-Kazemi's advisor puts forward a proposal to double growth rates".   Oh, yeah baby!  That's what we want to see!  Quote:   "Saleh proposed on Saturday to raise the volume of investment in six sectors to double growth rates..."  ...Iraq needs to take that money that they make from the oil revenue and start rebuilding a lot of the different sectors...which has been happening ever since Al-Kazemi has been in office...if we're thinking about changing the overall exchange rate of the Iraqi dinar you must first have a very secure economy...the private sectors - let's get them rocking and rolling!

    The next Miracles Intel Conference Call will be this coming SUNDAY NIGHT, MAY 8, 2022 beginning approximately 6PM PT / 9PM ET.
    Our pre-call will open approximately 5:30 PT / 8:30 PM ET — PLEASE DO NOT LOG ON TO OUR CALL UNTIL AROUND 5:30 PM PT.
    Our conference call line is: Dial-in number (US): (609) 746-1082 Access code: 767664#
    International dial-in numbers: https://fccdl.in/i/scottm6975
    Online meeting ID: scottm6975
    Online meeting link: https://join.freeconferencecall.com/scottm6975
    Replay Number: 712-770-5402 Access code: 767664# / followed by # again
    Backup Number: 520-420-9092
    If you encounter any issues with our Miracles Intel Calls please reach out to Free Conference Call Technical Support: (844) 844-1322

    chouchou and Rip534 like this post

    • Back to top
      Current date/time is Tue 26 Nov 2024, 5:31 am