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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


    Governor of the Central Bank, Mr. Ali Keywords in important and very hot dialogue and expanded confi

    Rocky
    Rocky
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    Governor of the Central Bank, Mr. Ali Keywords in important and very hot dialogue and expanded confi Empty Governor of the Central Bank, Mr. Ali Keywords in important and very hot dialogue and expanded confi

    Post by Rocky Tue 19 Jan 2016, 3:11 am

    Governor of the Central Bank, Mr. Ali Keywords in important and very hot dialogue and expanded confirms for (new evidence):

    1/18/16

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    Statements by some officials and rumors and malicious propaganda invested by hackers and speculators and Nhaza opportunities to raise the value of the dollar in order to reap the profits

    of banks departments and private Rafidain and Rasheed will see significant changes soon because it inherited the outdated methods of work of the country need Development Bank canceled when all government banks or incorporated Bank One is built on standards and advanced contexts to act as a joint-stock company

    What is happening in border crossings is one of the major aches and purely the voices of those who have informed this issue and it needs to be drastic and immediate treatment for many reasons available to us reconsider on fines remittance companies or banking companies if there is a convincing error can not be the central bank Bakannouna nor the governor lending The government closed the door certainly is not some truth to propagate

    Government by virtue of their financial resources are the monopoly of the dollar and there is no other party has the dollar so we are forced to sell in order to cover the country's need of imports

    Interviewed by:

    Abdul Wahab Jabbar / editor

    Abdul-Zahra al-Bayati / editorial adviser

    lens / Hussein Razak

    last Thursday morning the fourteenth of this month, we were on an appointment to conduct an interview with Mr. Ali Keywords Governor of the Central Bank of Iraq .. This edifice Iraqi financial sober, who founded Royal Decree year (1947) and was then called (the Iraqi National Bank) continued over the past decades and to this day guardian par excellence by ensuring the objectives, policies which his painted first and foremost to maintain the ceiling of monetary stability and to prevent access and the implementation of monetary policy in the country's inflation including with respect to exchange rates and the State Administration of foreign exchange reserves and the issuance and management of the local currency, a dinar not to mention other duties related primarily regulate the banking sector in order to elevate it to keep pace with what exists in the developed world .. The central bank now faces a tendentious campaigns and a flood of gossip and rumors launched by people who do not even simpler calculation principles know, but they routinely practice their hobbies in chewing talk bad and the launch of what they wish, intentionally or without him .. It is important we entered the bank gates and were pleased so much hospitality and respect for the press and the crew was the Governor of the Central Bank does not exceed one man and two women very Etiquette and respect really is interesting that we have not seen guards armed to the teeth, or an entourage of owners bellied surrounded the governor in his office and imprison him breath and the Secretariat Mr. Ali Keywords was more than wonderful, was yes administrator who is keen to work and skilled team of tools and Arif minutes later his work and most of all he was The figures speak in a language and in a language confident of himself and this dialogue was frank and important things where it must be taken seriously and examined thoroughly by stakeholders and decision said all those who mean the interest of Iraq and put it above all else.

    • Let's start first of escalating rumors and especially with regard broke into the central bank and the lack of liquidity and stop the bank from selling the dollar .. from behind it?

    Shall Bank and for some time facing a barrage of confusion and rumors in an attempt part of which is located within the declared and undeclared war to target state institutions and order political as a whole and the other part is his goal determine how the corner or entity of the entities and of course the motives vary depending on those goals and because the Central Bank of Iraq is the most enterprise stable in terms of policy and achieve the balance and stability in the corner of the foundation of the economic pillars of policy, it certainly exposed to this kind of accusations and propaganda which helps is that talk or tendentious propaganda invested by hackers and exploiters in the market and escalation to reap the fruits In other words, there are large numbers of beneficiaries of such news and rumors to the escalation of the dollar against the dinar and benefit from the profits realized from this process therefore taken directly to the market Although it is incorrect information. When raised, for example, yesterday said the central bank has stopped selling the dollar, this finds a strong echo in the market, although dealers with the Central Bank of the banks and the conversion and banking companies are continuing to buy dollars from the central bank, but even invest these rumors for speculation and profit taking this trend and take the character of escalation in the market.

    • Iraq is passing through a severe financial crisis .. Do you know what is a political central bank cash to ensure currency stability?

    - the central bank and perhaps for the first time plays an important role in trying to stabilize the country and was a witness to it What happened in the past year (2015) where he was able bank within certain mechanisms and certainly indirectly, because the central bank by law can not lend the government but directly can support the liquidity of the Treasury through re-discount treasury transfers issued by the Ministry of Finance and purchased by order of liquidity available necessary therefore in the past year, the Central Bank at a discount of about the equivalent of 6 trillion dinars of these transfers and allowed the bank to banks to use (50%) of reserve requirements is located at the Central Bank through the purchase of money orders and up to 5 trillion dinars Therefore if we take some tools Other used by the Central Bank shows the large size, which contributed to the state treasury support, and the same this role will continue in 2016 according to what was agreed upon and included in the state budget that the central bank will restore the deduction remittances treasury of $ 7 trillion dinars and the central bank by its law is the financial advisor to the government also for the first time extends Direct dial and coordinate with the Government and the Ministry of Finance aphid so channels mitigate the impact of the crisis and the envelope, which passes by the country If the central bank's large and important role in this regard and will continue this role and that the indicators available and the data we have indicate that the the country will go through a difficult financial conditions in 2016, but indicators as reflected expectations of pre-existing international organizations including the International Fund that the end of 2016 things will start breakthrough and improvement so we have to cooperate with the government and all parties to coordinate Bassam exceeded this year, which is the most difficult and certainly there are limits to the rhythm effects or damage to this crisis, we are trying to stop it at this seriously, a level to maintain the commitment of the State towards the staff and some of the necessary commitments, there are synergies large, coordinating and there are some available options we will go beyond or pay or cover the necessary expenses also maybe this precedent media we are doing and for some time inventory account balances of state institutions and ministries in banks and accumulated years ago and that did not use or uses for the time to come and we carried out an inventory of these accounts and we are in the final phases means that there is first revealed we Ptdeghigah now and perhaps will reveal this effort and the investigation of these accounts for the presence of large amounts can be However, the government made ​​use of and after the completion of this process, we will reveal the final figure as preliminary figures indicate that these very large amounts and this would greatly ease the impact of the crisis and the volatility of the equation for the better.

    • Some people say that foreign currency (dollar) seep into some neighboring countries, which calls for the closure of the central bank auction what is your answer?

    - this question, the central bank faces always and I want to explain the following: -

    1. The dollar selling by the central bank is not an option of his options and is not an option for the government this is the nature of the financial system and this is the nature of financial resources and this is the nature of the financing of the Ministry of Finance means that the country now stands located and by virtue of unilateral this resource and virtue not to enter the foreign currency from other sources such as an investment or remittances from residents abroad, grants or other, and the only source of dollars is the sale of oil and that received by the Ministry of Finance and the dollar does not need the Ministry of Finance because the ministry expenditures by budget almost (80%) or more of the Iraqi dinar Therefore, the Ministry of Finance forced to dollar selling to the market for the dinar and everything there that the central bank because it is responsible for monetary politicians and is responsible for the balance of the price exchange and preserve it enters as a mediator between the Ministry of Finance and the market to control and regulate this process if it is the Ministry of Finance in the envelope and a position to engage in this process without having to create problems in the market it is possible to sell directly to the market without being mediated by the central bank this process but this is by virtue of the situation the existing Finance and the Ministry of unprecedented that has this role may not be currently eligible to carry out the sale of the dollar directly and this Matrouh option by the central bank if the Ministry of Finance is able to be played in this process, the Bank rid of this issue and devote himself to his true, roles so say that Government by virtue of its resources are the monopoly of the dollar and there is no other party has the dollar therefore have because sell the dollar even cover the country's need of imports and to cover foreign remittances and give the dinar, which you get to the Finance Ministry That is, when the central bank receives dollars from the financial him to give dinars her whence comes this dinar? Either the prints or buy from the market if the oldest printed work we will have to empty in the money supply is smashes rate of the dinar, as happened in the years of excessive printing therefore there must be a look to sell the dollar flying from the facts on the ground and the realities of the financial situation and the realities of the financial resources of course and that the job of the central bank and its goal basically is to keep the general prices in the market because any inflation or a rise in prices would be detrimental to the citizen through the affected purchasing power and therefore the bank is the process of balance or used as a tool to maintain the exchange rate and the way the Iraqi model is different from other countries Many may ask why we do not find this process in other countries? I say the difference is that these countries have the resources or market of dollar of non-government or in other words the market is feeding itself For example, if we take the Gulf States, the dollar, which has come forth is usually huge in foreign currency through investment and remittances and other tourism and export so the central bank which does not forced to sell dollars to the market because it is available and perhaps there is a surplus in the dollar, the Central Bank in these countries purchase and the role of the central bank in the rest of the world is watching the market and when there is an imbalance in supply and demand is the process or buy the dollar in order to create a balance, while the Central Bank of Iraq does not have this option, the only window through which to provide the dollar market.


    Antkdtm to meet with a television performance of some government banks because they did not interact with the bank on loans raised to finance projects .. Where is the exact reason?

    -andma we launched loan initiative was carrying a target a significant and perhaps the biggest initiative is the most important in the history of the Iraqi state, where like her did not come this size and the rate of (5) trillion dinars agricultural, industrial and real estate for banks and housing and 1 trillion for small projects through private banks and this amount of 5 trillion is equivalent to many times the capital of this banks, which have always been complaining about since I was secretary general of the Council of Ministers to increase its capital to 100 billion dinars even play this role and when we provided to these banks the opportunity through a large amount we have a semi-despair instead be an engine factor in building a production base of the country and move sectors industrial and agricultural real and others got the opposite and frankly when we launched this initiative, we expect that officials in these banks Salahakon this process and flock to the Central Bank in the follow-up process to get the money and we said and we say today that the initiative when we launched the amounts were present to say, we did not call the initiative out of the blue or in the hope that we get the money the contrary, we have put the necessary funds to cover these loans and today tell if these banks received requests for projects in all of this amount during this period as possible be covered directly so the large Astgrabna where we were we address the banks coordination process with us or with respect to the details , etc., but there was no interaction with this issue and even in the conference which was attended by the Prime Minister a few months ago was the end of it to brief banks managers who attended and the business sector on this initiative and how it can simplify procedures, but we were surprised that the modern bank managers was betrays Referring to the questions and challenges in this area and said one of the managers of these banks: We do not need this amount and that one of them was asking: How lend ?! It is an ancient banks and history of the whole lending were then shock and frankly I, personally, I already told Mr. Prime Minister Haider al-Abadi Ptlka with these banks to manage this process and when the conference was attended by noted this talk make sure him what I said instead that these poses managers incentives, facilities and simplification of procedures for business who attended to listen to them but they threw the complexities and the problems of the Central Bank remained awaiting details on this subject, which took time between the Ministry of Finance and between banks and between the Commission entrusted by the Prime Minister to follow up the matter and that part of it trying to find adequate controls in order not to leak those loans to non-targets real or granted on the basis of nepotism, corruption and so on and still the opportunity exists for small loans and for loans of other banks began to receive requests and we hope that Mr. Prime Minister's Office, who launched simplification of procedures initiative to be is an example of this subject because there is a committee composed of the Prime Minister's Office and Ministry of Finance and other parties to follow the granting of these loans procedures.

    • What is required to upgrade these banks as it should?

    - I think the departments that manage these banks inherited contexts and work environment that much of the problems are a downright environment lagging behind in its institutional effectiveness and there is a lot of bureaucracy, and we need to reorganize These banks, as I think the country needs to develop in which this government banks canceled bank or incorporated bank and one built on standards and contexts of advanced and best use systems and techniques in order to be state tool and its device to fund projects and major private and can share in this bank are three parties (the government and the banks sector Special Brosmalha and the public) and act as a major contribution to the company so that the return on financial and we have to get into the citizen as a partner and this is almost absent we have and to contribute in other countries, companies represent a very large proportion of the gross domestic product, and there are many positives in the event of got our so he would to reassure citizens and bring him a resource and is pushing the use of resources towards the real development, especially since we have an abnormal phenomenon in Iraq is that more than 70% of the money supply is outside the framework of the banking system chunky in homes and pockets For many reasons, including poor awareness and lack of confidence in banks so when establishing such These funds Based right involving the state and major companies and banks to provide an opportunity for citizens to invest his money outside the framework of the banking system in real activity and I think that a country like Iraq needs a specialist bank development and modern contexts based on according to what exists in other countries and that more countries that made ​​grown management it was thanks to this type of fund where managed through that draws big money to build real projects.

    • Does the bank Rafidain and Rasheed within these

    banks?, wholly because the bank Rafidain and Rasheed have nothing to do with this initiative because it is allocated originally for banks specialized Kalsnaaa, agricultural, real estate and housing, as you know, that the bank Rafidain and Rasheed are not specialists in this sector and we have got the closest banks to these sectors due to its expertise and experience in this regard.

    • Are there intentions to privatize the two banks mentioned .. Rasheed and Rafidain ?!

    yes there is a project approved by the Prime Minister and conducted interviews and meetings regarding this matter was most recently on Wednesday (01/13/2016) in the relevant committee of the Central Bank economic adviser to Mr. Prime Minister, and of course this project needs time may need two to three years because the two banks possess substantial assets and that the Rafidain Bank alone its assets over 200 billion dollars and it The privatization of these banks need to hire international banks and international bodies to help us get the job done and this occasion because there will be a share of the contribution of the citizens of these banks and as you know that the banking system in the world is always the most advanced among all institutions and formations in the way of his work to take advantage of the best technologies and these banks in Each period of change programs and technology to keep pace with international competition and upgrading of what is required of them to provide what should be of financial services, a center used in the means of communication and delivery of services while you are when banks declined to have the account in order to withdraw a certain amount deposited in it can convergence problem in the withdrawn and times have contacts Citizens complain in this regard and surprising that these banks instead of sophistication in the provision of service and attract customers become even citizen get his money deposited problem may soon see changes in the departments of some banks.

    • you stressed that the fees of customs flawed and corruption and poor performance knowing that what is being collected from revenues Financial them than state revenues .. Is Tnorona more information?

    -ahkurkm to this question and I would like to answer that since I was in the General Secretariat of the Council of Ministers for years and so far considered the subject of major aches in the country and with regret was purely the votes of all those who have informed this subject but did not get any development or change on it Valmnavz border to a country that imports everything in the light of the current circumstances is assumed that these resources are the highest levels of the organization, competence and integrity not only of the financial reason for the availability of financial resources, but for security reasons, health, environment and safety of the citizen and there are disasters get mean that the material up and penetrate these ports and enter the cities which lacks specifications or fraudulent or has been the authority to change or they carry dangerous in use and are not subject to real standards and what is truly regrettable that these goods imported hard currency when wasted in this way through the goods are not suitable for use then destroy all losses for the country. Therefore, this issue is very important at the national level have been talking about it a lot, but unfortunately so far is still in the hands of corrupt, however dominant on these ports and I say and follow-up minutes are not fired arbitrarily it is very painful to the faithful in the border areas and some workers are getting more than you get state and smite you, for example, a field follow-up to the merchant who pays today (4000) dollars per container or large container in which the Office enters while the Savior Alkmarki which is to rid the container accomplishes this transaction for the benefit of the merchant pays (1000 ) dollars to the government fees and (3000) dollars between him and the corrupt and this phenomenon does not exist in the countries of the world is true that in the world to have a set of integrity in border crossings problem but they always leave the field even some of them say they do so in order to walk «Alsstm» It is a simple thing but When you take those more than she takes as salary State means we import b (30-40) billion dollars and then see customs duties does not exceed the (300-400) billion dinars their meaning until the (5%) of fixed fees do not get it and get it in a country that is trying to expand resources .. Here we ask how they can establish a production base in the chaos in ports where customs duties are not applied according to the value of real goods where the papers pertaining to merchandise them high fees to the general merchandise or goods exempt from tax mutated and there is no control and how we open all doors of hell on our national industry through these ports and we call on the support and development of the private sector and build a production base for this I see this as the subject of substantial and must be the subject of national attention because the future adjust our industry and adjust our consumption and adjust the health and security aspects as well as our resources and our currency depends on the set these limits .. there outlets have reached the situation where the sharing of tribal in one border crossing points told me the Director-General in his time and I used to go the subject of the port and get it mentioned to me that he could not be the situation existing management and he imposed on him (9) helpers each and every one of the family of any agreement between the clans to share This spoils of ports and this major disaster for the country and we always hear people say why selling the Central Bank of the dollar and we say why not reverse the question and say: why demand for the dollar because the demand for the dollar is that we import everything, and import all the support exporting countries to their exporters can not build a production base in the country and wants to help the central bank to make there control over the matter so that tapered off our need for imports and be import only what is necessary and how can we accommodate the thousands of graduates and the elimination of unemployment, if we were to build the economies of other countries, and I would like to say that the central bank, which defends a day to defend desperately in order to maintain purchasing power and maintain the strength of the Iraqi dinar, but with regret that the beneficiary of the strength of the Iraqi dinar is the other countries and what hurts really more that the neighboring countries of Iraq girl economies through achievement done by the central bank and come back to reiterate that This issue needs to shed Spotlight and risk profile of border crossings that are not limited to skipping a certain amount, but missed opportunities for the growth of the real sectors of the country in addition to health and environmental problems and other large effects have been proposed that Iraq contracted with international companies competent management of ports and this is used in both Saudi Arabia and the UAE, and be Iraqi staff part of the process and there are specialized companies worldwide do not provide you with fees only, but the quality and security control and everything is subject to the devices and the way services purchased by the government to outlets border such as Sunarat and computers after days of arrival of the outlets crashes in order to provide opportunities for manipulation.

    • we have a question propounded Owners remittance and banking and broker companies always complain of exposure to fines without the reason for this Altgrimat to let them know their money and what they .. Do you no answer?

    -I read this complaint a few days ago in the newspaper (new evidence) being interested in these things and I know that your public contact wide I asked you to give me examples of such companies that have been fined so I do accounting and body can honestly say that the fines system we have is not randomly determined by the Banking Department or the general manager of banking or even I, personally, as governor of the Central Bank does not impose a fine, but these fines you get when committee graduated inspection to the company turn and found violations of what some of these irregularities related to specific documents and discussed with the company but things which finds irregularities or not the Commission get an answer will come The Committee write to the Directorate a report in which she says that this company has had and we found then one, two, three violation Valmderah its transformation into a conservative because they do not have the power to impose fines or even personally which means that we have a system on this subject Venholha to an ad hoc committee called the Committee for fines and penalties at the central bank which is composed of (four to five) districts, including accounts and monitor the banking and the Office of money laundering and internal audit several destinations Veron what is objectionable and against which determine the fine and then again back to the governor for ratification surely available reconsider because at times become the committee proven cause or notice, for example, that the managing director was not present in the company and that person then found he could not defend the case Fmrat objection comes from the party that it went fine, upping the documents and excuses accepted then reconsider fine again.

    And I always say to the committee that the central bank wants to impose a fine and can say that the fines annoying thing and frankly we are dealing with companies and banks from the reality of the circumstances and always tell our community we do not make accountable as if our institutions are working in Switzerland institutions operating in Iraq have problems, challenges and difficulties that we have to be objective and we take these things into consideration and I ask me why, for example, banks do not play a real Kalagherad activities, credit and others?



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