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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


4 posters

    Finance Committee will host Central Bank Governor and his senior staff

    lonelyintexas
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    Finance Committee will host Central Bank Governor and his senior staff Empty Finance Committee will host Central Bank Governor and his senior staff

    Post by lonelyintexas Tue 07 Apr 2015, 10:18 am

    Finance Committee will host Central Bank Governor and his senior staff


    Parliamentary Finance


    Committee hosted headed by MP [You must be registered and logged in to see this link.] Chairman of the Committee and the presence of ladies and gentlemen members of the Committee 05/06/2015 central bank governor and his senior staff.


    Discussed hosting attended adviser and deputy central bank governor and former director general release Directorate and the Treasury and the Director General of the Directorate of Accounts and director of banking and credit and director of the Centre for Banking Studies and the Director General to report money laundering in the Central Bank – Office discussed – assets and net reserves of domestic credit and the net in the balance sheet of the bank and the foundation cash and the impact of increasing oil reserves, which leads to reduction in the cash basis.


    Mr. Chairman of the Finance Committee heard the reasons that had to move the exchange rate in the market that gap and the profits of monopoly influential happening on the official exchange rate, and find treatments in this area, as well as the Banking Act and the law against money laundering, and the creation of money transfer companies, amounting to more than 1,500 company,

    and the development of investment banking in line with bank liquidity in accordance with the special liquidity and obliging banks to allocate funds for lending and review of Statistics of credit and cash investments, total assets and overall systems as well as a project to delete the zeros and its implications and the development of financial categories facilitates the storage

    and study of new factors and appropriate market conditions and the effects of standards inflationary and technical ways to keep the currency from counterfeiting before proceeding with implementation.


    And accept senior Bank staff oil economy property in exchange reserve and related economic characteristics between international reserves and the exchange market and the impact of price inflation rate which affects the rate of the dinar, and the deterioration of the competitiveness of the country’s industry, agriculture and the real exchange rate and bilateral changes in it, and the pressures of demand for Alajnah currency.


    For his part, suggested MP Haitham al-Jubouri, a member of the Finance Committee that the central bank will address each of the Department of Trade and Industry about the volume of imports and exports in cooperation with the parliamentary finance committee, wondering about the overall management of the bank in the Rafidain Bank and Rasheed to prevent the acquisition of (Income and Outcome) and address the BSA To verify that the volume of transactions and financial Almalbg

    and the need for follow-up management of the bank in the banks by the central bank because they cause a real problem of corruption in this sector, inquiring about the bank’s role on the issue of loss-making banks in Basra and Baghdad, which does not have sufficient reserves for possible payment of all deposits and corporate money laundering and instructions instruments Islamic customs and tax rate, which is deducted and the implications of this deduction.


    For its part, showed MP Magda Tamimi review of Iraq’s money table since two thousand and three that contains Ziaat and frauds and large thefts and contradiction, which is set to the Finance Committee in the figures through the books by the concerned authorities, demanding the central bank to provide the parliamentary finance committee were made of (DFI) and clarification about Sovereign Fund which Taatbah foreign bodies and put Iraq’s money abroad and protection project.


    For his part, Governor of the Central Bank justified in replying to the ladies and gentlemen questions the committee members not to carry out the project to delete the zeros because he Aigll of paper the size of likely benefit to export more to reduce the number of categories in advance explained about the insurance on deposits in favor of the proposal of the Finance Committee determine Alastairadt through the Ministry of Trade Under the import of all material and the need for Iraq to this article Platform address,

    also put forward solutions to the Rafidain Bank and Rasheed to reconsider the structure of these two banks and converted to the private sector to upgrade them and their progress, the parliamentary finance committee and participated concerns about Takma affecting the private banking sector.

    Stressing the need for the integration of private banks and activation of the banking activity in addition to problems related to Bachirfah, and facilities offered by the Bank for Islamic Banks that keep pace with the global trend in this area, and to support weak banks and vacationed,

    in addition to re-Bank Warka exchange for adequate safeguards for the provision of liquidity, being one of the banks that have experience pioneered and advanced in the field of administration and money.

     

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    lonelyintexas
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    Post by lonelyintexas Tue 07 Apr 2015, 10:32 am

    Maybe he means don't drop them just yet, until they get the 50's out of circulation.
    Thanks
    LIT
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    Post by Proven Tue 07 Apr 2015, 10:33 am

    Thanks LIT.

    Delete the zero not started because of money being exported (laudering) and the need to reduce the money supply before implementing:

    For his part, Governor of the Central Bank justified in replying to the ladies and gentlemen questions the committee members not to carry out the project to delete the zeros because he Aigll of paper the size of likely benefit to export more to reduce the number of categories in advance...
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    Post by Proven Tue 07 Apr 2015, 11:37 am

    Proven wrote:Thanks LIT.

    Delete the zero not started because of money being exported (laundering) and the need to reduce the money supply before implementing:

    For his part, Governor of the Central Bank justified in replying to the ladies and gentlemen questions the committee members not to carry out the project to delete the zeros because he Aigll of paper the size of likely benefit to export more to reduce the number of categories in advance...

    I want you the think.  Based on the above statement, if the delete the zeros was a redenomination, would the government be concerned with money laundering (dollars going to Syria or Iran) or reducing the money supply in advance?

    I know it is a silly question. :)
    lonelyintexas
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    Post by lonelyintexas Tue 07 Apr 2015, 12:08 pm

    If they were going to do that I don't think they would, bother with the money laundering.  
    Thanks
    LIT

    (redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit.)
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    Post by lonelyintexas Tue 07 Apr 2015, 12:32 pm

    (Reducing the Money Supply)
    Thanks
    LIT


    The spread of the phenomenon of shopping smart cards


    7/4/2015 0:24


    BAGHDAD Mustafa al-Hashemi

    the banking system seeks in Iraq and the relevant authorities to limit the use of cash (CASH) in the country at a time when efforts are going to automate the processes of settlement of the instruments and salaries and activate the automation of electronic card systems in order to maintain more cash in bank accounts through publication of electronic trading between public culture.


    According to those involved, the trading exchange electronic smart cards culture is still weak due to heavy economic legacy inherited from the old policies that have isolated Iraq to keep pace with global developments in electronic banking technology and modern making the transition to electronic trading has difficulty in the idea of acceptance of the public.

    electronic publishing awareness


    In this context, said Deputy Managing Director of the World Company smart card (Ki Card) Ibrahim Abdel Hadi told the "morning" that he needs the public in the current stage of acceptance dealing smart electronic cash cards is to spread awareness and education on trading such new special way related Balmedfoat.ocd importance of this trade in commercial transactions and shopping at markets that deal with this kind of cash to reduce reliance on cash-Cache and the reduction of the money supply in circulation paper size, along with the fact that smart cards lighter and slimmer when you carry and move out as well as they perform the same purpose of the payment.

    cash deal and that the conditions experienced by the country in the past at the end of the last century, established the idea of dealing with cash (Cash) at a time when the world has seen the launch of a new type of card shopping and rapid spread of bank payment systems in Several countries, including equivalent cash payment when shopping at the local shops and the supply of fuel stations and pay the bills, wages and other other operations.


    He said Abdul Hadi out there that ministries and departments are encouraged to work payments system, this is where the smart cards issued by the Company and specifically in relation to the payment of wages and fines of Interior such as the Ministry and a number of departments of public Kalmror nationality, noting that there is coordination with Dirh passports in this regard to save time and effort on the reviewers.


    He pointed to the launch of e-shopping in a number of Baghdad's markets and a number of provinces like Basra and Nasiriyah and Wasit, Najaf and Missan, along with the experience of the fact that a number of This market outlets for the distribution of salaries to employees, retirees and the rest of the categories of the smart card holder.


    He explained that the number of citizens willing to use the method of payment of these when they shopped from the market, but some shops lacked the announcement of the possibility of accepting payment smart cards that play a role in promoting this process .

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    Post by Proven Tue 07 Apr 2015, 12:54 pm

    lonelyintexas wrote:If they were going to do that I don't think they would, bother with the money laundering.  
    Thanks
    LIT

    (redenomination: a new unit replaces the old unit with a fixed number of old units being converted to 1 new unit.)

    Yes, clearly pointing to the fact that the delete the zeros is not a redenomination.  If it was a redenomination, presenting the new or old currency would not matter, the same amount of dollars would exit Iraq.  A neutral event.  

    In a revaluation, since dinars would be converted at a greater value, the CBI would suffer from reserve draw down because significantly more of these dollars would leave Iraq.  This is why money laundering (dollars going to Syria and Iran) is a concern for the delete the zeros project.  

    Just remember, the federal reserve is the one back-stopping this action and will continue to supply Iraq with as many dollars as they need even after revaluation.  All part of the Economic Development plan.  
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    Post by Proven Tue 07 Apr 2015, 1:01 pm


    Thanks LIT.  

    Looks like they are not even trying to hide what they are doing.  This is great news for us investors:


    and the reduction of the money supply in circulation paper size, along with the fact that smart cards lighter and slimmer when you carry and move out as well as they perform the same purpose of the payment.
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    Post by CITEX Tue 07 Apr 2015, 1:04 pm

    Just remember, the federal reserve is the one back-stopping this action and will continue to supply Iraq with as many dollars as they need even after revaluation.  All part of the Economic Development plan.




    I wonder if the printing of Dollars that was done 5-6 years ago is going to be used for this or if there will be a new printing of currency to supply Iraq, thus increasing the Dollars in circulation, which should bring the value of the Dollar down... Makes me wonder about converting them to a Dollar based system, be that cash, stocks or bonds... wouldn't that be a nice problem to have....
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    Post by Screwball Tue 07 Apr 2015, 4:14 pm

    CITEX wrote:
    Just remember, the federal reserve is the one back-stopping this action and will continue to supply Iraq with as many dollars as they need even after revaluation.  All part of the Economic Development plan.




    I wonder if the printing of Dollars that was done 5-6 years ago is going to be used for this or if there will be a new printing of currency to supply Iraq, thus increasing the Dollars in circulation, which should bring the value of the Dollar down... Makes me wonder about converting them to a Dollar based system, be that cash, stocks or bonds... wouldn't that be a nice problem to have....
    Possibly, but not only the federal reserve but holders of usd's in most Cbi's around the world!

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