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Thread: 2019

  1. #21
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    76.89 trillion dinars value of deposits in commercial banks


    Monday 15 April


    The Executive Director of the Association of Iraqi Private Banks Ali Tariq announced on Monday the rise of government and private deposits in commercial banks operating inside Iraq to 76.89 trillion dinars during the year 2018.

    In a statement received by Alsumaria News, And private in commercial banks rose 9.84 trillion dinars during the year 2018 because of the procedures of the Central Bank of Iraq in support of the Iraqi banking sector, both government and private, in addition to Iraq rid of the financial crisis that hit in 2014 because of falling oil prices and security improvement after the elimination of M Daesh, "noting that" deposits in 2017 amounted to 67.05 trillion dinars , while increased in 2018, to 76.89 trillion dinars.

  2. #22
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    The Ministry of Industry and Minerals on Tuesday called on the government to stop selling the dollar at the Central Bank auction because it affects the Iraqi industry, indicating that the most money in hard currency goes out of the country.[/size]

    "The sale of the dollar at the auction of the Central Bank has a great impact on the Iraqi industry because most of this money goes out of the country and therefore if the government wants to promote the local industry, the sale of the dollar should be stopped as a first step and then obligatory, Ministries to buy the products of the Ministry of Industry for its [...] and development. "

    He added that "most of the decisions taken by the government after 2003 to [...] the Iraqi industry, did not and did not have the level of ambition, in addition to the laxness of the border crossings and the importation through them and these ports need strict laws to oblige and this is what we miss now, adding that the things that affected the The local industry is the decline of the currency in some neighboring countries and the entry of products of these countries to Iraq at prices lower than locally located.

  3. #23
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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.

  4. #24
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    Al Rashid applies the comprehensive banking system in its branches
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    Al Rasheed Bank announced the implementation of the comprehensive banking system in its branches to achieve speed and ease.

    "The bank signed a special contract for the comprehensive banking system, which will be applied in all branches," the bank's press office said in a press release.

    He added: "The implementation of this system will achieve speed and ease and away from the routine," noting that "this system is in place in international banks and will depend on the use of modern technology in[

  5. #25
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    Central Bank Basra branch introduces a window to provide small cash categories
    18/04/2019

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    The Central Bank of Iraq (CBE) launched a branch of the Basra branch on Thursday to develop a window from the issue division to provide small groups of 250, 500 and 1,000 dinars. The head of the Central Bank of Iraq Branch of Basra in a press statement briefed by the "Covenant News" , said that in view of the small groups of the Iraqi currency traded in the markets, the Iraqi Central Bank branch in Basra sought to provide these quantities for the purpose of facilitating the deal between a single trader And the citizen. He stressed that the provision of cash from all groups will facilitate the sale and purchase between citizens and owners of shops.
    Al-Fahd added that the distribution of small categories through bank withdrawals, which are delivered to citizens through personal accounts and salaries will revive the local market and will be in the interest of the national economy and turnover of the wheel of monetary movement.
    It is noteworthy that small groups have been implemented from the market significantly recently, and this gesture re-ease of dealing between citizens.

  6. #26
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    International Smart Card Company contributes to financial inclusion

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    Over the past four years, the Central Bank of Iraq has been able to achieve a technical revolution in the field of payment systems and modern banking technologies and electronic payment, which led to the transfer of banking products to advanced services to serve customers and compete the offer of Arab and foreign banks of the services of its customers.
    What is important here is that e-payment companies, owned by private shareholders, have supported the direction and implementation of the Central Bank's strategy for the years (2016-2020) in the development of payment systems and electronic payment techniques, reflecting the high financial coverage ratio according to the latest World Bank report from 11% to 22%. %. Which is to be confirmed here is the role played by the International Company for smart card (K), which is the first company that introduced electronic payment technologies to Iraq in 2007 in partnership with Rafidain Bank and Rashid using the card (smart card) to pay the salaries of retired civilian and military beneficiaries of welfare salaries Which is the first national mixed company run by the Iraqi private sector and the state banking sector. This product has been able over the past years to provide rapid service and without risk to the ways to 7 million subscribers by thousands of ports and that the most prominent features of the product can be filled card in all branches of the Rafidain Bank and by the ports spread along the geographical area of ​​Iraq and can be reissued in case of loss Theft or fraud without any risk to the customer or money in the card due to biometric technology. The company has also issued a MasterCard card, a global bank card which provides the opportunity to deposit money or spend it electronically or by ATM. Duck bank account, making the company cross the borders of Iraq through its partnerships with global payment systems, making a national product in order to compete on a global level to take pride in what is "Made in Iraq"
    So we have said that KI is the leader in the national private sector in providing electronic payment services.

  7. #27
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    14 banks participate in the activities of the second day of the week of financial coverage

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    The events of the second day of the Week of Financial Inclusion took place at the Baghdadi Cultural Center in Al Mutanabbi Street on Friday.
    The event was attended by 14 public and private banks offering free services to the public from opening an account, electronic payment cards and others.
    The director of the banking outreach section of the Iraqi Islamic Bank, Marwa Algha, told the "Economy News" that the purpose of financial inclusion is access to services for low-income, and so such events are an important opportunity for new banks to reach the public.
    She added that this is the third participation of the bank and we have provided a variety of banking services during the three years.
    "We encourage the electronic payment culture through the electronic cards that we distribute in these events," Aga said.
    In turn, the director of the financial inclusion project in Rafidain Bank Jalal Ahmed, in an interview with "Economy News", that the bank wants through this participation to deliver electronic payment services to the public through smart cards, and through the latter can get the advances and services launched by the bank.
    He stressed that the Bank's efforts continue to enhance the public's confidence in the banking sector through the banking awareness campaigns organized by the bank throughout the year in public and residential areas.
    Ahmed added that during the second day, the bank introduced the new service that will be launched by the bank, which is issuing the MasterCard card from the bank instead of the offices, enabling customers to make withdrawals and cash deposits.
    He pointed out that at the end of the day we took a draw in which three citizens won three bank accounts and the amount of 50 thousand dinars as a gift.

  8. #28
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    Arab admiration of the steps of the Central Bank of Iraq ..
    Friday, 26 April 2019


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    What does it mean to elect the Governor of the Central Bank of Iraq to fill the position of Deputy Chairman of the Board of Governors of the Arab Monetary Fund? I am glad that Iraq has become a major sovereign country in the Arab world. It means a great deal of economic and financial concepts, a sign of Iraq's recovery, its ability to rise and overcome the great challenges it faces. This important Arab financial position, which was obtained by Iraq, represented by the Governor of the Central Bank of Iraq Mr. Ali Alalak, came after the developments witnessed by the bank in his last career, until he became one of the big central banks and influential in the Arab world. He was admired by all the men of finance and economics, especially his success in crossing the financial impasse as a result of the war on the duel, the victory over its gangs and the difficult international circumstances caused by the decline in oil prices in recent years, which is the mainstay of Iraq's economy. that ,, Where he went patiently and wisely, on the approach of the right concept of money and the economy in the collective awareness, and raised the ceiling of the psychological challenge of the citizen in the direction of strengthening confidence in any measures taken by the Central Bank transparently for the benefit of the country, has briefed the Arab Monetary Fund to this march, Scientific and international, solid and able to cope with developments and to keep abreast of the changing and changing realities, so that each event will be judged according to schedules characterized by flexibility, continuity and stability in clear economic and financial assets, with the conviction that there is no rigid opinion or position. , And Attitudes ... and all diversification, he was admired by the Arab Monetary Fund, and was on its impact, the election of Mr. Keywords for the position of Vice Chairman of the Board of Governors,
    The Arab Monetary Fund (AMF) is a regional Arab financial institution established in 1976. It started operating in 1977. It has 22 member countries: Algeria, Bahrain, Djibouti, Egypt, Jordan, Saudi Arabia, Sudan, Syria , Somalia, Iraq, Oman, Palestine, Qatar, Kuwait, Lebanon, Libya, Egypt, Morocco, Mauritania, Yemen and the Republic of the Comoros.
    The fund aims to contribute to the achievement of several tasks, including correcting the imbalance in the balance of payments of Member States , and to remove restrictions on current payments between Member States , and the establishment of policies and methods of Arab monetary cooperation , and to give advice, when requested, in relation to policy foreign investment , and the development of Arab financial markets and work to create conditions conducive to the establishment of a unified Arab currency ..
    It is known, that the fund supports in order to achieve its objectives on the means of many of the financial and economic formulas, including the provision of short - term and medium - sized facilities for Member States to help finance the overall balance of payments deficits , and the coordination of monetary policies of the Member States and the development of cooperation between the monetary authorities in these countries , and edit and the development of trade and current payments arising from them and to encourage the transfer of capital movement between Member States , where the Fund allocates sufficient resources paid in currencies of Member States to provide credit facilities necessary for the settlement of payments Exclusive between the Member States in accordance with the rules and regulations approved by the Board of Governors and in the framework of a special account fund for this purpose , opens the management of any funds entrusted to him by a member or members for the benefit of other States Parties State To hold periodic consultations with Member States on their economic conditions, their policies to help achieve the objectives of the Fund and the States concerned, the provision of technical assistance to the monetary and banking organs of Member States , and other important matters addressed by the Fund.
    Mubarak of Iraq has this distinction, and this great success

  9. #29
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    Bank of Baghdad: The Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability

    [...]

    The Chairman of the Board of Directors of the Bank of Baghdad, Essam Ismail Sharif, that the Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability in spite of the circumstances experienced by Iraq.
    "In 2018, the Central Bank of Iraq, through its strategy of managing monetary policy and strengthening the pillars of monetary stability despite the circumstances in which the country was going through, succeeded in overcoming these conditions," Sharif said in his annual report issued by the Bank of Baghdad. While maintaining the exchange rate of the dinar to the dollar within the parallel market prices. "
    He stressed that "the Central Bank continued to provide short and medium-term credit lines to finance the economic sectors, including small and medium-sized enterprises within the preferential interest rate, and in the liquidity side work to pay part of restricted cash with its branches in Sulaymaniyah and Arbil to Iraqi banks."
    He continued his leadership role in the development of electronic payment methods and the process of settling salaries in Iraq, and on the technical side issued the Central Bank of Iraq instructions for the application of capital adequacy according to the Basel III standard, which began to be applied experimentally on the data of the third quarter and fourth and will be adopted from the year 2019 ".
    He pointed out that "the Iraqi economy is expected to achieve growth of 6.5% during the year 2019, in light of improved macroeconomic factors and the deficit of the general budget of the state and the need for the country to reconstruction projects of infrastructure."
    He pointed out that "the Bank of Baghdad has been able to grow its financial position and size of customer deposits and achieve a part of the qualitative and quantitative achievements at the administrative and regulatory levels and maintain liquidity and improve the quality of assets, which will maintain its position within the Iraqi banking sector," explaining that "the capital adequacy ratio reached 127% Which exceed the indicators of global requirements and the Central Bank of Iraq.
    He pointed out that "to meet the requirements of customers at the bank has re-completed the spread of its distribution channels and develop, whether opening branches at their new sites and start rehabilitation of the branches of Mosul and Tikrit and Anbar to be within the branches operating in 2019 in addition to the expansion of electronic distribution channels in terms of exchange, A cashier and is planned to reach 62 cashiers. "

  10. #30
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    Notes to the Central Bank of Iraq[/size]
    Password FAQ Calendar Mark Forums Read Notices 02/05/2019 07:28 PM | Number of readings:
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    [rtl]Abdul Zahra al-Bayati[/rtl]
    [rtl] In recent years, the country's private banking sector has witnessed remarkable development. It is estimated that there are more than 75 private banks, and it is clear that this expansion in this sector did not come from a vacuum. It is a result of the necessities dictated by the need and expansion in line with the trend towards upgrading and expanding the private sector in order to take its role. In all countries of the world, which has adopted privatization in various economic activities.[/rtl]
    [rtl]I believe that the prudent policy of the Central Bank of Iraq has an impact on the development of a promising Iraqi banking industry. However, there are some observations that we would like to work on, including the establishment of specialized training courses for senior administrations represented by the board members, the managing director and the assistants to the banks. Leading in these banks, so that we have a staff capable of performing its functions to the fullest. This will insure the private banks not to fall into the mistakes and the resulting fines, and the insurance of these owners will break the monopoly of these titles by people who believe that the best and without them gets the flood![/rtl]
    [rtl] In the opinion of specialists in the banking sector, the insurance of senior and middle banking companies is a necessary and very important to feed the private banks with human cadres prepared, trained and prepared for this purpose. We believe that the Central Bank of Iraq is able to do so easily and easily if we know that he has the experience and energies of high-level in the field of expertise and training, and we hope to hear about the courses opened soon .

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