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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


    Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269951
    Join date : 2012-12-21
    • Post n°1

    Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq Empty Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq

    Post by Rocky Sat 27 Aug 2022, 6:56 am

    Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq

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    Samir Al-Nusairi
    Economic and banking consultant
     
    Central banks in the countries of the world (they are stability banks) mainly aim to achieve economic stability by achieving stability in the monetary system and the financial system in accordance with their programs and strategies that aim to maintain stability in the macro economy through the applications of monetary policy tools. Therefore, the Central Bank of Iraq works By achieving its objectives contained in Law 56 of 2004, most notably building sufficient foreign reserves in accordance with special international standards issued by the International Monetary Fund, facing crises, challenges, economic and political shocks, controlling stable rates of inflation rates, interest rates, the general level of prices and stability in the exchange rate, managing money supply, and applying regulations and rules Compliance and Anti-Money Laundering and Terrorist Financing.
    The Central Bank’s march has proven that it is following a steady and strategic approach that depends on transparency and disclosure of financial data and dealing with international financial organizations and institutions, based on the keenness to restore confidence in international banking transactions, which Iraq has suffered due to reputational risks and negative media impact towards damage to the Iraqi economy and leakage of inaccurate data and information. and fabricated .
    Which led the Central Bank’s management to draw up its strategies, and one of its main and subsidiary objectives was to adopt transparency and disclosure locally and internationally about the march of results achieved for the financial and banking sector, and to adhere to the international standard standards applied by sober international banks, which led to the creation of a new and balanced relationship with banks. The international banking institutions are based on confidence in the financial statements presented and announced by the Central Bank .
    For example, the Central Bank announced last week, with high transparency and disclosure, a detailed report on the overall financial and economic indicators of Iraq as the financial advisor to the government. Total revenues amounted to 109 trillion dinars in 2021, compared to 119 trillion dinars in 2012 , and exports rose to 102 trillion dinars in 2021 and the public debt rose From 6.5 trillion dinars to 69.9 trillion dinars, imports decreased from 50 billion dollars to 34 billion dollars in 2021, and exports decreased from 96 billion dollars to 73 billion dollars . And the number of banks with significant growth rates during 10 years, and what confirmed the transparency of the report is the issuance of the International Monetary Fund report for the month of August 2022, which strengthened the data contained in the report issued by the Central Bank .
    Also, the Central Bank announces daily and with a comprehensive disclosure of its daily sales of dollars in the foreign currency sale window, according to the classification of each bank and with special criteria for that. International accounting standards that ensure the transparency of financial statements .
    From all of this, we note that the Central Bank, with this strategy and with this approach, announces to local and international public opinion the following:
    1. The statements issued by it and the Iraqi banking sector confirm the transparency and disclosure of the Central Bank of Iraq by announcing approved and transparent reports of total foreign currency revenues and total foreign currency expenditures for the government in accordance with the approved exchange chapters.
    2. The data contained in his daily reports on his official website refutes all media statements made by non-specialists in the various media, especially with regard to the foreign currency sale window. In foreign currency with the required accuracy, it will greatly help to enhance confidence in our national economy and the Iraqi banking sector locally and internationally, because disclosure, transparency and credibility will raise the percentage of financial inclusion and Iraq's reputation internationally .

    15 . views
    Added 08/27/2022 - 1:50 PM
    Update 08/27/2022 - 2:44 PM


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    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 269951
    Join date : 2012-12-21
    • Post n°2

    Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq Empty Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq

    Post by Rocky Sun 28 Aug 2022, 4:57 am

    Transparency and financial disclosure is a strategic approach for the Central Bank of Iraq

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    Samir Al-Nusairi
    Economic and banking consultant
     
    Central banks in the countries of the world (they are stability banks) mainly aim to achieve economic stability by achieving stability in the monetary system and the financial system in accordance with their programs and strategies that aim to maintain stability in the macro economy through the applications of monetary policy tools. Therefore, the Central Bank of Iraq works By achieving its objectives contained in Law 56 of 2004, most notably building sufficient foreign reserves in accordance with special international standards issued by the International Monetary Fund, facing crises, challenges, economic and political shocks, controlling stable rates of inflation rates, interest rates, the general level of prices and stability in the exchange rate, managing money supply, and applying regulations and rules Compliance and Anti-Money Laundering and Terrorist Financing.
    The Central Bank’s march has proven that it is following a steady and strategic approach that depends on transparency and disclosure of financial data and dealing with international financial organizations and institutions, based on the keenness to restore confidence in international banking transactions, which Iraq has suffered due to reputational risks and negative media impact towards damage to the Iraqi economy and leakage of inaccurate data and information. and fabricated .
    Which led the Central Bank’s management to draw up its strategies, and one of its main and subsidiary objectives was to adopt transparency and disclosure locally and internationally about the march of results achieved for the financial and banking sector, and to adhere to the international standard standards applied by sober international banks, which led to the creation of a new and balanced relationship with banks. The international banking institutions are based on confidence in the financial statements presented and announced by the Central Bank .
    For example, the Central Bank announced last week, with high transparency and disclosure, a detailed report on the overall financial and economic indicators of Iraq as the financial advisor to the government. Total revenues amounted to 109 trillion dinars in 2021, compared to 119 trillion dinars in 2012 , and exports rose to 102 trillion dinars in 2021 and the public debt rose From 6.5 trillion dinars to 69.9 trillion dinars, imports decreased from 50 billion dollars to 34 billion dollars in 2021, and exports decreased from 96 billion dollars to 73 billion dollars . And the number of banks with significant growth rates during 10 years, and what confirmed the transparency of the report is the issuance of the International Monetary Fund report for the month of August 2022, which strengthened the data contained in the report issued by the Central Bank .
    Also, the Central Bank announces daily and with a comprehensive disclosure of its daily sales of dollars in the foreign currency sale window, according to the classification of each bank and with special criteria for that. International accounting standards that ensure the transparency of financial statements .
    From all of this, we note that the Central Bank, with this strategy and with this approach, announces to local and international public opinion the following:
    1. The statements issued by it and the Iraqi banking sector confirm the transparency and disclosure of the Central Bank of Iraq by announcing approved and transparent reports of total foreign currency revenues and total foreign currency expenditures for the government in accordance with the approved exchange chapters.
    2. The data contained in his daily reports on his official website refutes all media statements made by non-specialists in the various media, especially with regard to the foreign currency sale window. In foreign currency with the required accuracy, it will greatly help to enhance confidence in our national economy and the Iraqi banking sector locally and internationally, because disclosure, transparency and credibility will raise the percentage of financial inclusion and Iraq's reputation internationally .

    55 . views
    Added 08/27/2022 - 1:50 PM
    Update 08/28/2022 - 10:57 AM


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