A Few Highlights from Mondays Call: (Please listen to full call for all the news and details)
Frank26: In an Article-Alak, the governor of the CBI came out and said publicly, “We Are Ready”.
As of today, campaigning for their election started…Elections are on May 12th.
IMO Everything regarding the Monetary Reform has to be done way before the election.
IMO This is the month for them to do this.
IMO We are only waiting now for the CBI to release the rate.
IMO If they remove the 3 Zero’s, the rate would be at least 1.2 dinars to the dollar.
We are hearing that their ATM’s are loaded with New Lower Denomination Notes.
IMO The ATM’s open for business and the rate change will happen more or less about the same time.
Monday Night KTFA CC 4-16-18
The first part is business Promo and the second part is Dinar/Iraq Intel
PLAYBACK #: 641.715.3639, PIN: 156996#
Samson: Three million dinars for retired workers in Iraq
17th April, 2018
Rafidain Bank announced on Tuesday the disbursement of the first installment of the predecessor of the retired and insured workers of three million dinars.
The Information Office of the bank said in a statement received by “Economy News” that the payment of the first batch of retired workers and insured, amounting to three million dinars for about 868 retired.
The statement said that the disbursement of this advance was by informing the pensioner by sending him a text message informing him of the advance payment after completing all the legal procedures to grant it and disbursing it through the electronic payment tools for which the financial balance was filled. LINK
Samson: Oil prices rose on Tuesday amid concerns about supply disruptions, especially in the Middle East
17th April, 2018
As of 0646 GMT, Brent crude futures were at $ 71.75 a barrel, up 33 cents, or 0.5 percent, from the previous close.
US crude futures rose 36 cents, or 0.5 percent, to $ 66.58 a barrel.
Traders said oil markets were supported by a sense of high risk of disruptions such as the possibility of a wider Middle East conflict, renewed US sanctions on Iran and lower production due to the political and economic crisis in Venezuela. LINK
Harley1: Inclusion…….How about “including” a new rate with that??
Don961: Intensive preparations for the Financial Inclusion Week
17/4/2018 12:00 am
On the occasion of his Arab day
Baghdad / Hussein Thugb
Financial inclusion is an inevitable necessity in a country that seeks to expand economic activity through its productive and service paths and to create an advanced banking system that provides services to all members of society and benefits them in support of development.
Financial inclusion means introducing or merging groups that are called financially marginalized or low-income people who are not allowed to engage in banking system operations by dealing with the banking system through the mobile digital business system, ie, completing all electronic transactions electronically.
Infrastructure Development Director General of Payments at the Central Bank of Iraq, said: “The Central Bank seeks to develop the financial and banking sector through the development of infrastructure that enable financial and banking institutions to improve services and accessibility by all segments of society
“Pointing out that” In this context , attention week financial inclusion and turn it into a carnival for the delivery of services and the participation of banks in a practical contribution to the banking education services, particularly for women comes, as well as the segment of students , whether schools or universities who are actors to spread the culture and the fight against illiteracy tools bank. ” ?
She added That “the expansion of this subject among the community to educate them the positive effects of financial coverage of their lives, as well as prepare them to manage their financial life in the initial stages of starting them in any area may work in the future,” asserting ” Data periodically semi – annual and considered as the year 2016 is the base year in order to monitor the performance of two banks and providers of payment services fee and financial inclusion strategy
, Which will be the launch of the main determinants and the Supreme Committee for Financial Inclusion is set up in conjunction with this event (the Arab Week of Financial Inclusion )
Best International Practices
The Central Bank of Iraq considers the active partnership with the private sector to be the most important elements of success. This comes with the support of banks and electronic payment service providers through legislation that regulates their work and gives them sufficient flexibility to develop their business according to international best practices and involve them as key members of the National Payments Council and the Supreme Committee for Financial Inclusion.
She pointed out that “the important steps taken by the Central Bank in the establishment of workshops in a number of universities and contribute to dialogues and seminars and most recently participate in the Baghdad International Book Fair and contribute to the seminars held during which by the Governor of the Central Bank and a number of general managers and each according to its competence, One of these sessions was devoted to the issue of financial inclusion in Iraq. ”
Free banking services
Director of Management and Training in the Association of Private Banks Ahmed Al Hashemi said: “Iraq is one of the countries that need awareness and education programs in this important chapter, which has become effective internationally, pointing out that” the week of financial coverage, which is preparing for him, a number of events adopted by banks and progress “The various products that will be offered are designed to benefit the citizen, as the products offer opportunities to obtain a loan for low income families, while encouraging the activation of deposits transfer of money buried in homes to The banking system and make them supportive of the process of activating the national economy. ”
Financial Inclusion Department
He stressed that “the nominal goal to encourage Iraqi banks to be an effective starting point to achieve this trend, considering that a large proportion of society outside the circle of financial inclusion,” noting that “the week of financial inclusion witnessed the presentation of animated films showing the importance of saving and the distribution of stories and discoveries in order to create a culture of savings
“The week will work to educate citizens about the importance of the subject of electronic cards, which will be all the requirements of the human through them and the advantages of positive and it saves money, and does not expose them to any risks, and this subject reduces the process of money laundering , Because my work The movement of the funds will be followed closely by the concerned authorities . ”
Electronic payment companies
Al Hashimi said that “financial coverage targets all cities with banking branches, where citizens are encouraged to enter the banking system to expand their products, and we encourage electronic payment companies to provide almost free services to encourage the localization of salaries. “We have to catch up with global developments, and we are working on this direction with great seriousness and we base the efforts of the Central Bank in this direction,” he said link
Samson: International Finance Institute predicts global economic growth in 2018
17th April, 2018
The International Finance Institute (IFC) said on Tuesday that the global economy is likely to grow faster than expected in 2018, largely because of US tax cuts, but tensions over trade threaten to undermine months of harmonious global growth.
The Institute’s forecast for global growth in 2018 rose by 0.2 percentage points to 3.5 percent, with its forecast for US economic growth this year rising to 2.9 percent.
The US economy grew 2.3 percent in 2017 according to the Institute and the Institute’s earlier forecasts before the tax cuts began late last year and it was the world’s largest economy would grow by 2.4 percent in 2018.
The institute said the global economy’s 2017 growth was the first time in the world. Ten years are showing cracks, with exporters expecting pressure due to uncertainties in global trade.
With regard to trade tensions, the Institute predicts that the main risk to global growth is a possible jump in inflation, particularly in the United States.
China is expected to grow at a slightly slower pace to 6.7 percent from 6.9 percent in 2017, while growth in India is expected to accelerate to 7.9 percent from 6.4 percent last year, the institute said.
In its preliminary forecast for 2019, the Institute predicted global growth would stabilize at 3.4% of the expected growth of 2018 in 3.5%. LINK
Samson: Iraq signs an important agreement with the European Union tomorrow
Iraq and the European Union will sign on Wednesday a joint agreement on financial reform in Iraq. “The signing ceremony will take place at the headquarters of the Ministry of Planning at 9:30 am on Wednesday,” a ministry statement said.
He added that the agreement “signed by the Iraqi side, Minister of Planning Salman Jumaili and the European Union Ambassador of the Union in Iraq.” LINK
Samson: Disruption of official hours in Kurdistan
17th April, 2018
A spokesman for the Kurdistan Regional Government, Sphin Dzi, announced Tuesday (April 17, 2018) that official institutions in the Kurdistan region have been disrupted.
Dzi said in a statement to the “obelisk” that “on Wednesday, the 18th of this April, an official holiday in all institutions of the Kurdistan region on the occasion of the beginning of the Yazidi year,” noting that “Excludes the Ministries of Education and Higher Education of the decision to disrupt the time because of Late teaching process “.
Dzi congratulated the Yezidis on this occasion, wishing them good and safety.
The Yazidi community celebrates seven annual festivals: Sarsal, Ruzin Eizi, Juma, Gali Haven, Gali Zestan, Bilanda, Kurban and Khader Elias. The number of days of celebration is between one and seven days. LINK