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Thread: 2019

  1. #11
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    Britain appoints Iraqi professor Sinan al-Shabibi as chairman of monetary policy committee






    Agency of the orbit -
    Baghdad
    The British central bank issued a decision on Monday to appoint Iraqi professor Sinan al-Shabibi as chairman of the monetary policy committee.
    "The Bank of England decided to appoint Professor Shabibi as chairman of the Monetary Policy Committee, which was previously governor of the Central Bank of Iraq," the English media reported.
    "This decision came to benefit from the experiences of al-Shabibi to maintain the exchange rate of the British pound and to prevent the British economy from getting into trouble, especially after the exit from the European Union."
    Iraqi sources told al-Madar that Professor Sinan al-Shabibi had been deposed from the post of governor of the Central Bank of Iraq by the previous government headed by Nuri al-Maliki, because he did not agree to sell the dollar to Iran.

  2. #12
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    The return of Iraqi banking to the international arena”
    March 7, 2019
    Preparations for the organization of the «Iraq banking» in Baghdad
    Wednesday 06 March 2019 28
    BAGHDAD / Hussein Tgb
    continue preparations to organize the Forum “Iraq Banking” its fourth session in Baghdad on 26 – 27 March , the current under the auspices of the Central Bank of Iraq under the supervision of Economics and International Business Group, as it will address topics that the advancement of the domestic financial sector, and with the participation of a group of Iraqi and Arab Banking Leaders , and a group of experts and specialists, and officials from specialized technology companies.
    Digital Banking Services
    Addresses the forum several most important priorities of the Central Bank of Iraq and the elements of the Five-Year Plan 2016 – 2020 issues, harmonization of monetary and fiscal policy, and the return of the Iraqi banking sector to the international arena, as well as digital banking services and technological trends of the modern Iraqi banks towards electronic banking services, and stands at legislative efforts and organizational steps to keep pace with modernization, and the role of specialized technology companies and prospects for cooperation with ATM.POS Iraqi banking sector and the development and expansion of networks of payment points.
    Executive Director of the organization of the group, Walid Abu Zaki said that “Iraq is on the cusp of a political radical changes, security and economic new, translated the completion of the editing stage and the launch of reconstruction and construction workshops, in parallel with the adoption of the government a comprehensive economic plan and procedures for the development of the investment climate and strengthening the role of the private sector to encourage the stage to attract investments, new towards vital sectors, and what it means that the need for substantial financial flows. “
    The application of international standards
    He pointed out that “incentives to organize such forums that runs from the Central Bank of Iraq paid special attention to the need to keep up with the application of international standards, so as to enhance the confidence of international banking institutions sector, and its relationship with correspondent banks, and between these standards comply with Compliance, as well as international financial standards, as is the case with accounting standard No. 9 (IFRS9), and what it requires from the need to raise the efficiency of human resources in the sector and hone their Abraltdreb and raise the capacity. “
    Patrol platform for interaction
    Between Abu Zaki that “Amid these developments, the Forum of Iraq banking comes its fourth session, organized by the Economics and Business Group, in cooperation with the Central Bank of Iraq and the Association of Iraqi private banks on 26-27 March, the current, in order to find a regular platform for interaction, dialogue and highlight the most achieved and how achievements meet the challenges resulting from the application of international standards or develop appropriate local environment. “
    He pointed out that “the role of the Central Bank of Iraq has become prominent in the quest to keep pace with the requirements of this stage, either through the adoption of a flexible monetary policy that takes into account the surrounding circumstances, or through the appropriate environment for expanding the participation of local banks in the financing.”

    Islamic Banking Industry
    Specialized in economic affairs Haider Kadhim al-Baghdadi said: “in front of the banking sector, large tasks to be supportive of actual development processes pursued by Iraq during future periods, and in the context of efforts to the banking industry development efforts, acquired the work on the Islamic banking industry and to provide appropriate regulatory legislative environment into development important from the Central Bank of Iraq’s efforts, as well as seeking to develop electronic banking services and digital services through recruitment of vital investments in the development of these channels to keep pace with global developments. “

  3. #13
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    Parliamentary Finance intends to develop mechanisms to maintain the stability of the dinar exchange rate


    20-03-2019 08:06 AM
    Number of readings:

    Agency of the orbit -

    Baghdad

    The member of the Finance Committee of Parliament Abdul Hadi al-Saadawi, on Wednesday, the intention of his committee to develop mechanisms to change the financial funds to raise the dinar exchange rate and maintain the stability of inflation.[/rtl]

    "The committee will move during the current legislative term to change the fiscal and monetary policy in the country in general," Saadawi said in a statement exclusive to the newspaper / Al-Sabah and the official / Al-Madar said that "the committee is meeting with officials of the Central Bank to discuss this change during Next stage '.

    He added that 'the financial Parliament is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state', indicating that 'the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation in the country '. [/rtl]

    "The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment

  4. #14
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    The central bank offers traded notes for sale to amateurs
    Monday 25 March


    [...]


    Alsumaria News / Baghdad
    The Central Bank of Iraq, on Monday, cash notes are still circulating the issuance of 2003 and 2013 for sale to amateurs and related associations.

    Below are the notes currently in circulation from 2003 to 2013, which are sold to amateurs at prices ranging from $ 5 to $ 60 per cash category.

  5. #15
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    Home Scientific and Cultural Seminars Scientific Symposium (delete zeros from the Iraqi dinar)

    Under the patronage of the Dean of the Faculty of Knowledge University Dr. Yacoub Nazem Ahmed, the Department of Finance and Banking Sciences held today, 2019/3/27 and the Conference Hall a scientific symposium entitled (delete zeros from the Iraqi dinar) was divided into three axes

    The first axis: the concept of deleting zeros from the dinar , Presented by Assistant Professor Dr. Ali Abdul Hadi Salem.

    The second axis: the expected results of the deletion of three zeroes from the Iraqi dinar, M. Mahmoud Abdelkader Sweid.

    The third axis: the experiences of some countries in the process of deleting zeros, M. Mohammed Juma Rahim.

    The seminar was attended by the Dean's Assistant for Administrative Affairs, the heads of the scientific departments, faculty members and staff as well as guests from various departments of the State.

  6. #16
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    Alsumaria News / Baghdad
    A member of the parliamentary security and defense committee Badr al-Ziyadi said on Sunday that the political blocs decided the names of their candidates to the four ministries, pointing out to send the names of five candidates for each of the ministries of interior and defense to Prime Minister Adel Abdul Mahdi to choose the most appropriate ones before him and sent him by an official letter to parliament to vote on it .

    Zayadi said in an interview for Alsumaria News that "the understandings on the candidates of the remaining ministries have reached the final stages and became the ball today at the playground of the Prime Minister," noting that "the political blocs sent the names of candidates to Abdul Mahdi and has reached the Council of Ministers waiting to be sent by him to Parliament To vote on it. "


    "The names of five candidates have been submitted to each of the Ministries of Defense and Interior waiting to choose the most appropriate of them according to his vision and program in order to send them an official letter to parliament next week," likely to "resolve the vote sessions of the next parliament."

    A parliamentary source revealed on March 20, 2019 the nomination of the names of three figures of the Ministry of Defense and its representative to the Ministry of Interior in addition to a candidate for education.

  7. #17
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    4/3/2019


    [...]
    To / from government and private banks, financial transfer companies and exchange companies all ( confirmation of training course ) ... To view

  8. #18
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    Association of Iraqi private banks holds a preparatory meeting for the day of financial inclusion

    [...]


    The Association of Iraqi Private Banks on Thursday held a preparatory meeting for private banks, financial payment companies and the Central Bank of Iraq on the day of financial coverage, which starts on April 25, while the meeting was held at the station building in central Baghdad.
    At the beginning of the meeting, the Executive Director of the Association Ali Tariq welcomed attendance, stressing that the role of private banks is the most important and the largest on the occasion of the day of financial inclusion, in addition to the support of the Central Bank of Iraq.
    He pointed out that the reason for the establishment of financial inclusion is to address the weakness of the public in the banking culture, pointing out that this year will see an increase in access to more provinces by adding the Kurdistan region of Iraq and the province of Basra, as well as intensify the exhibitions in Baghdad.
    The executive director of the Association noted that this year will see the establishment of a prize for the best bank participating in the day of financial inclusion, in order to motivate the rest of the banks to provide the best they have.
    Ali Tariq called on banks to make more efforts to produce a new product, and called on banks to come out with data to prepare a final report on the outcome of the day of financial inclusion.
    For her part, the Assistant Director General of Payments Department at the Central Bank, Iman Adnan, said that the award will be given to the bank to be the banking awareness department in the winning bank, calling to go to groups other than students, such as women.
    There were interventions by representatives of banks and inquiries and views on financial inclusion.
    For his part, Deputy Executive Director of the Association of Iraqi private banks, Ahmed Hashemi during the meeting to get down to the street and target the public is not familiar with this concept, pointing out that the lack of participation of private banks in the provinces will be a negative indicator.
    There were also interventions by banks, including ideas and proposals to serve the day of financial inclusion, and included the use of ministries as a target group in order to spread the culture of localization of salaries.
    It was agreed that next Sunday will be a date for a second meeting with private banks for the purpose of providing banks proposals for their activities to the Central Bank on the day of financial coverage, which starts on the twenty-fifth of this month.

  9. #19
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    The Central Bank issued a statement on the perforated or burned funds


    Friday, April 12


    demanded the Iraqi Central Bank , on Friday, all banks comply with the decision taken on dealing with banknotes and perforated burning of the Iraqi dinar.

    The bank said in a statement received by Alsumaria News, a copy of it, that "all banks to confiscate the damaged banknotes perforated discovered within the deposits of customers of the bank and delivered to the Central Bank of Iraq with knowledge of its source from the customer and otherwise the bank bears the legal responsibility resulting from it."

    The bank added that "banks also provide damaged banknotes as a result of burning or burial to the Central Bank and its branches exclusively directly from citizens."

    The current Iraqi currency consists of seven categories, including 250 dinars, 500 dinars, 1,000 dinars, 5,000 dinars, 10,000 dinars, 25,000 dinars and 50,000 dinars. The coins were withdrawn by the bank for non-circulation by the public

  10. #20
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    THE ARREST OF A GANG PROMOTING A COUNTERFEIT CURRENCY OF 25 THOUSAND DINARS IN THE MARKETS OF BAGHDAD

    Twilight News – The Ministry of Interior announced on Tuesday the arrest of a gang promoting a counterfeit currency of 25,000 dinars in the markets of Baghdad.

    The spokesman of the ministry, Major General Saad Maan said in a statement today that the detachments of the Federal Police Intelligence working within the intelligence agency in the Ministry of the Interior and the quality of the process arrested two accused are conducting the payment of counterfeit money category (25) thousand dinars to vendors and shops north of Baghdad And the criminal offense, where they seized in possession of counterfeit amounts of 16,250,000 dinars.

    He added that the counterfeit currency was seized with a record of the seizure of fundamentalists and referred by the accused to the judiciary to complete their investigative papers.

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