Sporter
04-19-2006, 08:52 PM
"There are people who haven't faced the reality of what has gone on in Iraq," said Galbraith. "They still think that the old central state is going to be put back together again. It's not going to happen in Kurdistan. It's not going to happen in the south. It's not going to happen in Baghdad." Each half of the Kurdish region, which split apart in a 1990s civil war, has its own defense, interior, health and education ministries.
Got Kurd Dinar?
http://www.thestandard.com.hk/news_detail.asp?pp_cat=17&art_id=16933&sid=7569293&con_type=1
Per Jerry's post
Ohhhhh look what we have here!!!
Kurdistan… With Its Own Central Bank More Information
Kurdistan Central Bank: Tending to approving the credit card Instead of cash 20.7.2005
Erbil – The development banking plans in Iraqi Kurdistan region tend to developing the governmental and private commercial banks and giving the bigger role to the private sector, assisted by the settlement of the security situation that the region is witnessing, compared to other Iraqi regions.
Adham Kareem, general manager of the Kurdistani central bank in Arbil, told that many of the private institutions desiring banking activity have been granted licenses for launching banks all over Iraq, in general. He added that the banking system in Kurdistan is heading towards privatization.
He called the foreign institutions for "banking investment, launching branches in Kurdistan, making use of the facilities offered by the government of the region, for foreign and Arab investment companies, pushing to invest in the region." He confirmed, "Working according to the method of mutual benefit is better than limiting it within the framework of one region."
He pointed out, "The central bank is developing banking activity in Kurdistani commercial banks, according to what is established in global banks. Dealing with foreign companies is executed in accordance with the banking laws, issued by the Iraqi central bank." "They allow the foreign investment to have Iraqi partnership (institutional or individual), and that their work should be subject to the Iraqi financial control of the central bank, the investing entity should point out the names of their partner companies and banks, and to obtain the founding permit from the central bank after submitting the necessary data", he added.
He said that before the withdrawal of the central government departments from Kurdistan in 1992, the number of banks was 7. As for the current number of banks in the city of Arbil and its suburbs, it is 15 banks, all under the public sector, in addition to the private "Kurdistan" bank and "the Iraqi bank for trade", which works on the external relations' line between the public and private sectors. Its headquarters is based in Baghdad.
He disclosed a plan, which aims at "developing the atmospheres and preparing them to reach the method of dealing in credit cards instead of dealing in cash, and facilitating the process of transferring the currency and controlling its value, through setting a program that stabilizes the exchange rate of the Iraqi dinar."
He added, "The government of the region is establishing its banks on bases of the need of Kurdistani individuals. It works hard on delivering the banking services to all areas and districts, to facilitate banking transactions and encourage citizens to deposit their money there." He pointed out, "The interest rate, which is offered by banks in Kurdistan differs from region to another, due to the competition among these banks. The general central bank does not collect interests on money. Iraqi commercial banks are the ones that do that."
As for the private commercial banks that offer loans to merchants and contractors, he said, "Some commercial banks offer advance payment and loans to merchants and contractors. Nevertheless, the loans of agricultural and real estate banks are still frozen, due to the lack of issuing a law by the Iraqi central bank, which allows offering them."
He stated that the activity of the business of banking is connected to the security conditions in the country. "When the latter stabilizes, the efficiency and activity of the former increase", he said. He stressed the necessity of working in the most secure regions. "No matter if they were in the north or the south, as we can think of gradual expansion of banking to include all Iraqi regions, afterwards."
(My link is dead so I had to post what I had in MS Word)
Role of Banking System In Ensuring Transparency & Disclosure
14 page document
http://www.kurdistancorporation.com/...Arab_Banks.pdf
The New Iraqi Dinar Notes as we know them. Full Beautiful Page…
Got Kurd Dinar?
http://www.thestandard.com.hk/news_detail.asp?pp_cat=17&art_id=16933&sid=7569293&con_type=1
Per Jerry's post
Ohhhhh look what we have here!!!
Kurdistan… With Its Own Central Bank More Information
Kurdistan Central Bank: Tending to approving the credit card Instead of cash 20.7.2005
Erbil – The development banking plans in Iraqi Kurdistan region tend to developing the governmental and private commercial banks and giving the bigger role to the private sector, assisted by the settlement of the security situation that the region is witnessing, compared to other Iraqi regions.
Adham Kareem, general manager of the Kurdistani central bank in Arbil, told that many of the private institutions desiring banking activity have been granted licenses for launching banks all over Iraq, in general. He added that the banking system in Kurdistan is heading towards privatization.
He called the foreign institutions for "banking investment, launching branches in Kurdistan, making use of the facilities offered by the government of the region, for foreign and Arab investment companies, pushing to invest in the region." He confirmed, "Working according to the method of mutual benefit is better than limiting it within the framework of one region."
He pointed out, "The central bank is developing banking activity in Kurdistani commercial banks, according to what is established in global banks. Dealing with foreign companies is executed in accordance with the banking laws, issued by the Iraqi central bank." "They allow the foreign investment to have Iraqi partnership (institutional or individual), and that their work should be subject to the Iraqi financial control of the central bank, the investing entity should point out the names of their partner companies and banks, and to obtain the founding permit from the central bank after submitting the necessary data", he added.
He said that before the withdrawal of the central government departments from Kurdistan in 1992, the number of banks was 7. As for the current number of banks in the city of Arbil and its suburbs, it is 15 banks, all under the public sector, in addition to the private "Kurdistan" bank and "the Iraqi bank for trade", which works on the external relations' line between the public and private sectors. Its headquarters is based in Baghdad.
He disclosed a plan, which aims at "developing the atmospheres and preparing them to reach the method of dealing in credit cards instead of dealing in cash, and facilitating the process of transferring the currency and controlling its value, through setting a program that stabilizes the exchange rate of the Iraqi dinar."
He added, "The government of the region is establishing its banks on bases of the need of Kurdistani individuals. It works hard on delivering the banking services to all areas and districts, to facilitate banking transactions and encourage citizens to deposit their money there." He pointed out, "The interest rate, which is offered by banks in Kurdistan differs from region to another, due to the competition among these banks. The general central bank does not collect interests on money. Iraqi commercial banks are the ones that do that."
As for the private commercial banks that offer loans to merchants and contractors, he said, "Some commercial banks offer advance payment and loans to merchants and contractors. Nevertheless, the loans of agricultural and real estate banks are still frozen, due to the lack of issuing a law by the Iraqi central bank, which allows offering them."
He stated that the activity of the business of banking is connected to the security conditions in the country. "When the latter stabilizes, the efficiency and activity of the former increase", he said. He stressed the necessity of working in the most secure regions. "No matter if they were in the north or the south, as we can think of gradual expansion of banking to include all Iraqi regions, afterwards."
(My link is dead so I had to post what I had in MS Word)
Role of Banking System In Ensuring Transparency & Disclosure
14 page document
http://www.kurdistancorporation.com/...Arab_Banks.pdf
The New Iraqi Dinar Notes as we know them. Full Beautiful Page…