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  1. #1
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    Experts: ... 70 trillion dinar Bank frozen Rafidain and Rasheed


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    Experts: Iraq did not hire his balancings surpluses prior to development and 70 trillion dinar Bank frozen Rafidain and Rasheed

    Author: HH
    Editor: BK, HH
    2014-04-17 10: 10
    Hits: 224
    Range/Baghdad

    Economists and financial disclosure, on Thursday reported a 70 trillion dinar deposits in a Bank and as a result the annual surpluses are good from the budgets of the inability of some departments and ministries, while the Government does not invest "that money in development projects and remain" frozen ", the enemy had caused" great inflation, "the Central Bank paid by selling the currency, which requires a review of the Banking Act, and operational restructuring.

    He said the former Deputy Governor of the Central Bank of Iraq, the appearance of Mohammed Saleh, in an interview with the (range), the "good bank assets, Rafidain consists, with a high proportion of government deposits, deposits", noting that "the size of these deposits up to 70 trillion Iraqi dinars from 40 trillion and public sector deposits and the remaining to the private sector".

    On the invitation of the Union of banks lending and money move Arabic by the Iraqi Government, the banks, as "correct from a formal point of view, to solve the housing crisis and other", adding "but there is a project sponsored by the Association of banks to the Government, to establish a composite part of the liquidity in the Bank and went to work.

    Economic expert said, "the cumulative loan aims to move funds deposited in a Bank and Rafidain towards major projects, such as housing, etc. and be soft to avoid interest loss sinks", expressing regret that "the project is disabled because of a lack of response from the financial sector, represented by the Ministry of finance and the Central Bank of Iraq".

    In the same context, a member of the parliamentary Finance Commission, Abdel Hussein Al-yasiri, an interview (range), that "Rafidain Bank deposits amounted to, in 2010, 28 trillion dinars", indicating that there is "less good" Bank.

    Al-yasseri, stressed the need "to take advantage of such funds and turn on or directed to solve housing problems.

    But a member of the Finance Committee at the same time, stressed that "good and Rafidain Bank suffering from lack of liquidity due to the use of cash intensive", the Bloc's "failure to adopt Iraq running or Visa card, called the economic alternatives to monetary terms."

    He is a member of the parliamentary Finance Committee, that "if Iraq had used money supply to properly conserve places", pointing out that "the money supply approximately 35 trillion Iraqi dinars a large number compared with other countries of the world."

    Al-yasiri, said that "high value for money supply caused great inflation the Central Bank paid by selling the currency," returned "the disadvantages of banking is one of the reasons for economic decline in the country, requiring a revision of the law on banks, Rafidain and Rasheed, special and operational restructuring them according to advanced economic systems".

    On a related level, the Economist, Antoine, that amounts frozen in the Rafidain Bank and Rasheed, as well as trade, caused by surplus budgets since 2006 until now, that some departments and ministries have been unable to for disbursement.

    Antoine, said in an interview (range), that "the cumulative amounts increasing year after year, remain frozen and not invest properly and scientifically," budget surplus of up to 15 percent annually as a result of government failure to complete some of the projects leading to shift the amount to Rafidain Bank and Rasheed.

    And on the reasons for the accumulation of "sheer" mass cash in banks, despite speaking parties on "annual deficit", the Economist attributed this to lack of final accounts for the previous financial budgets ", noting that" the form amounts earmarked for specific projects not completed or begun working out due to poor implementation, as well as poor control of the House."

    Antoine said, "money in the Bank and good for specific projects and cannot be expended for other purposes only with the budget and voted on by the House of representatives in the federal budget bill, he says that there are" six thousand registered project did not settle their accounts.

    The Union of banks of Arabic in Beirut suggested move "amounts frozen in a Bank and Rafidain and exceeding the equivalent of 78 billion dollars to resolve many of the problems highlighted by the" housing problem "by" lending ", said that the amounts" parked "in banks will cause problems of" inflation "and lack of investment.


  2. #2
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    does anyone know what this means?
    "I have nothing to offer but blood, toil, tears and sweat." - Sir Winston Churchill

  3. #3
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    Sounds like the banks Rafidain and Rasheed have 70 trillion in cash meant for development projects not getting done.
    " Never forget everything Hitler did in Germany was legal " ---Martin Luther King jr.---

  4. #4
    Supporter and Investor! Mo Dinar's Avatar
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    Time for a Tutelage!

  5. #5
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    Quote Originally Posted by Mo Dinar View Post
    Time for a Tutelage!
    Mo Dinar:

    That made me laugh. Good one. It's something Iraqisteve would say. Funny.

    Peace to all,

    seadesk

  6. #6
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    Mo, that is funny!!! SOON we will blow past the 70 trillion mark right into the Quadrillion's. Why LOP, the world needs to find out what the US debt will rise to sooner or later!

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