Posts Tagged ‘Central Bank of Myanmar’

Bank Expert: Iraq needs a well-developed banking system

Posted: February 13, 2013 in Iraqi Dinar/Politics
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Posted on 13/02/13 03: 18 AM

optimized banking expert blamed the declining investment in the country’s underdeveloped banking system and lack of security stability, stressing the need for a sophisticated banking system to attract foreign investors and to facilitate financial transactions for investors.

He said: the promotion of investment process in the country requires a well-developed banking system works according to the modern technology to facilitate the work of foreign investors who intend to invest in Iraq. (more…)

Economic seminar concludes the efficient functioning of the CBI during the previous period

Posted: February 4, 2013 in Iraqi Dinar/Politics
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A number of economists, ministers and members of the House of Representatives and a number of academics on the efficient functioning of the central bank during the period preceding and during the tenure of Dr. Shabibi for the post of governor and the appearance of Dr. Mohammed Saleh as his deputy.

They said in the talk’s (range) during the seminar held by the Iraqi Institute for Economic Reform on this issue that there is a consensus about the performance of the central bank, which has been successful and sound in various matters and issues falling within its jurisdiction, with commissioning the Iraqi Institute for Economic Reform task and achieve progress in its work for the next phase . (more…)

Parliament: linking CBI auction network with financial institutions will reduce corruption and supports national currency

Posted: January 26, 2013 in Iraqi Dinar/Politics
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Date: 13/01/26 14: 27: 58 Saturday

Baghdad (newsletter) …Member of the Committee praised the economy and investment Deputy/Kurdish blocs Coalition Jassim Mohammed Hussein, a step the Central Bank to link your auction to sell hard currency electronically with the Bank institutions and the Ministry of finance and the General Administration of taxes will reduce corruption and will support the national currency in the country.
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Director of private banks: CBI will open the foreign currency auction tomorrow despite the closure of the financial accounts

Posted: January 1, 2013 in Iraqi Dinar/Politics
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Date: 01/01/2013 12:08:53 Tuesday

Baghdad (news) .. According to Executive Director of the Association of private banks Abdul Aziz Hassoun, that the central bank has decided to open its auction public sector to buy and sell foreign currency on Wednesday, despite the fact that this week is a period of restoration and closure of the financial accounts for the year (2012).
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Damaged currency a problem for Iraqi citizens; Replacement currency due in November 2012

Posted: November 12, 2012 in Iraqi Dinar/Politics
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11/11/2012 (23:00 pm)

Currency damaged problem experienced by the citizen

Car stopped Kia middle of the road forcing all passengers to disembark after scuffles, the amount of 1000 dinars was enough to ignite a sharp disagreement between the driver and one passenger after paying the last 1000 dinars ripped rejecting change pretext that most currency is damaged. (more…)

CBI: We carried out the terms of the Stand-By Arrangement with the IMF

Posted: September 11, 2012 in Iraqi Dinar/Politics
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11/09/2012 09:28
BAGHDAD / Center Brief for the Iraqi Media Network – said the Iraqi Central Bank that carried the conditions set forth in the Convention on the standby credit with the International Monetary Fund under which Iraq obtained a loan of $ 3.7 billion to support the development his activities economic. (more…)

CBI: integration of small banks with large will help build strong banking management

Posted: July 17, 2012 in Iraqi Dinar/Politics
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Date: Tuesday, 17-07-2012 01: 42 pm

Baghdad (News) … He appearance of Central Bank Adviser Mohammad Saleh, the idea of integration of small, vulnerable banks a good idea and help build a banking entity with strong banking management.

He said Saleh (News Agency news) on Tuesday that the Banking Act No. (94) of the year (2004) does not force weak banks to integrate but offers tips to convince vulnerable banks merging with private banks in particular that large State banks with government support.

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Director of private banks: preparations start System (PBX) is in its final stages and has formed a Committee to choose the best company to manage

Posted: July 11, 2012 in Iraqi Dinar/Politics
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Date: Wednesday, 11-07-2012 11: 07 am

Baghdad (News) … The Executive Director of the Association of private banks, the goldfinch-final stages to start PBX system between national banks, a joint Commission of the Central Bank and the ministries concerned to choose the best offers from global companies to manage.
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Member of Finance Committee: The process of withdrawal of the old currency will continue for two years through banks

Posted: July 6, 2012 in Iraqi Dinar/Politics
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On: Friday 06/07/2012 13:54

Baghdad (news) .. According to a member of the Finance Committee MP / National Alliance / Najiba Najib Ibrahim, that the central bank has taken several measures to replace the Iraqi currency in coordination with the Finance Committee. (more…)

CBI: Restructuring of Rafidain and Rasheed Banks conditional on legislative reform

Posted: July 4, 2012 in Iraqi Dinar/Politics
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Deputy Governor of the Central Bank of the appearance of Mohammed Saleh, said that “the restructuring of Rafidain and Rasheed conditional on legislative reform of the government and banks that fits with the aspirations of the banking business in the country.” (more…)

Deputy: conversion of private banks to financial institutions and promote the economy will work

Posted: June 5, 2012 in Iraqi Dinar/Politics
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Date: Tuesday, 05-06-2012 11: 34 am

Baghdad (newsletter) … According to a member of the Finance Committee, the National Alliance Deputy//Secretary Bob Abbas, that the conversion of private banks to large financial institutions by the Central Bank will the Iraqi economy through its organization of work. (more…)

Cabinet calls for the CBI to exchange information and coordinate monetary policies

Posted: April 15, 2012 in Iraqi Dinar/Politics
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15 April, 2012 07:19:00

Confirmed the Council of Ministers, that the law obliged the Iraqi Central Bank to exchange information, views and coordinate monetary policy with the central government, pointing out that this is what is currently required by the government. (more…)

CBI confirms high sales of foreign currency continues

Posted: February 14, 2012 in Iraqi Dinar/Politics
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On: Tuesday 14/2/2012 7:57

The central bank said it did not reduce the sales of hard currency, but the imposition of measures to protect the country’s economy from deteriorating.

The deputy governor of Bank of the appearance of Mohammed, according to (Rn), bank sales fell after the imposition of new measures for transactions of $ 200 million to less than $ 4 million last Thursday, “noting that” sales on the rise and reached about 68 million dollars. ” (more…)

Association of Iraqi banks confirm the existence of irregularities in the private banks

Posted: November 23, 2011 in Iraqi Dinar/Politics
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Chairman of the Association of Iraqi banks Abdul Aziz Hassoun that “there are disagreements of large private banks suffered because of the reduction of liquidity available to it by the reluctance of many borrowers to bring money to these banks, making it weak in providing the necessary financial liquidity in the establishment of several investment projects.”

He said Hasson, “The failure to provide financial liquidity will hinder the banking business for many of the pressures government in its performance, as well as many problems in the Iraqi investment law which makes the capital the country’s next wary of investment, which is delaying economic growth.” (more…)

The Central Government does not deposit in private banks because of the crisis of confidence

Posted: November 14, 2011 in Iraqi Dinar/Politics
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  • Expert confirms that budget 2006 allocated $ 500 million for 3 development banks did not see the light

Iraqi Central Bank attributed the abstention in the distribution of government deposits at private banks and foreign governmental involvement in transactions to the inability of many to deal with foreign actors, noting that the Committee set up to examine this matter two months ago, is aware of this.

He said the appearance of Mohamed Saleh, Deputy Governor of the Bank in an interview for “the world” on Monday, that “the Commission agents but most private banks do not have the ability to open appropriations with foreign actors requesting large capital facilities,” pointing out that “the banks do not have a global credit rating because of the conditions of the country”.

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CBI calls for the government to protect the local currency of the “mafias” fraud

Posted: August 26, 2011 in Iraqi Dinar/Politics
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Komaki haiti, Para, Money

Baghdad, August 26 / August (Rn) – A Central Bank of Iraq, Friday, the government of protecting the local currency of the mafias specialized may rigged to block the project for restructuring the currency information disclosed by the government’s economic adviser.

He was economic adviser to the Iraqi government Abdul Hussein Al-Anbuge has revealed to the media, local, on Friday the existence of mafias are trying to breach the local currency during the project restructuring carried out by the CBI.
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Iraqi Dinar will regain glory and coins in our pockets soon

Posted: August 2, 2011 in Iraqi Dinar/Politics
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Dinar regain glory and coins in our pockets soon

Posted 01/08/2011 07:23 PM

Central Bank will soon begin to lift the three zeros with the advice of international economic organizations and Baghdad?

A Deputy Governor of Central Bank of Iraq that Iraq began the restructuring of the involvement of the currency of international economic organizations focus on raising three zeros and the development of new metallic currency.

The appearance of Mohammed, told the people that “the central bank agreed with the international organizations on the process of restructuring of the currency and support the level of the value of the Iraqi dinar against foreign currency (dollar).”

He pointed out that “the process of restructuring, which will begin this week will focus on providing appropriate climates to raise three zeroes from the local currency in addition to the development of simple coin for 500 dinars and 1,000 dinars.”

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Economist calls for the Ministry of Finance to take immediate action to prevent the collapse of the banking sector

Posted: July 25, 2011 in Iraqi Dinar/Politics
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07.25.2011

BAGHDAD (Iba) .. Expert called for the adoption of bank rescue measures immediately to prevent the collapse of private banks in Iraq, which may bring them back to square one and dissipate economic reform efforts exerted for years.

The expert, who asked not be named, told the independent press (Iba) that the existence of a banking system integrated is one of the most important pillars of the national economy and confidence in him and encouraged to deal with it, which is the gateway to the development of all economic sectors, and is the basis for handling cash between individuals, companies and institutions at home and as well as its dealings with the outside.

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Iraq’s inflation continues to rise

Posted: July 18, 2011 in Iraqi Dinar/Politics
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Federal Planning announces the increase of the annual inflation for the month of June increased by 6.1%

Baghdad, July 18 (Rn) – The Ministry of Planning and Development Cooperation for the annual headline inflation for the month of June last by (6.1%) and decreased Altdm monthly compared with the month of May last by 0.08%.

The spokesman said ministry spokesman Abdel Zahra al-Hindawi told the Kurdish news agency (Rn) that “the rate of annual inflation for the month of June, up from June of last year by 6.1% while the percentage of inflation for the month of June compared with May a decrease of 0.08%. “.

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China vows to major financial reforms; Improve management of foreign exchange

Posted: July 4, 2011 in Iraqi Dinar/Politics
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Pledged China’s central bank, yesterday, to press ahead with reforms of key financial and improve the management of foreign exchange, and provide more credit to small businesses that lack of liquidity in the country.

The People’s Bank of China said in a statement on his website, he “would use an important strategy” to move forward in major reform of financial sectors “and to promote and improve the” management of foreign exchange.

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Vietnam: Central bank to cut forex position

Posted: June 29, 2011 in Iraqi Dinar/Politics
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VietFinanceNews.com – The central bank is consulting relevant authorities over a draft circular that would bring down the foreign exchange position of local credit institutions and foreign bank branches in the country to 20% from the current 30%.

The current regulation requires banks to hold an amount of foreign currency equivalent to a maximum of 30% of their equity at the end of each trading day. This rule has been in place since 2002 when banks’ equity was small.

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Vietnam: Payment balance, forex reserves improve says central bank

Posted: June 22, 2011 in Asian Currency Markets
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JUNE 22, 2011

VietFinanceNews.com – The central bank has increased its foreign exchange reserves due to an improving trend in the balance of payments and recent measures to support the local currency, Governor Nguyen Van Giau said.

It had not been easy to increase the reserves over the past few years because Vietnam’s overall balance of payments had a large deficit, he told a press briefing Friday. The deficit was estimated at US$4 billion in 2010, compared to $8.8 billion in 2009, he said.

“But this year the State Bank of Vietnam has forecast a surplus of around $1 billion,” he said.

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Issawi: Politics and the Ministry of Finance to support private sector banks with public money to maintain

Posted: May 6, 2011 in Iraqi Dinar/Politics
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BAGHDAD (Iba) … Minister of Finance Dr. Rafie al-Issawi said the Ministry of Finance will support the private sector banks by the powers enjoyed by the ministry, adding that the matter which is not the prerogative of the ministry will go to the Council of Ministers to resolve it.

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Economist Opinion: the financial support required to resident banks by the Central

Posted: May 4, 2011 in Iraqi Dinar/Politics
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Expert: the financial support required to resident banks by the Central
Called for a distinction between bad and efficient, including

Banking expert said that the banking sector has declined significantly in the performance of the desired role in the development pursued by the country. He attributed the chairman of the Economy Bank for Investment and Finance Hussam Ali Obeid reasons for this decline to non-discrimination between successful banks and banks lagging.

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Minister of Finance: Open new bank accounts for the protection of Iraqi funds abroad

Posted: April 3, 2011 in Iraqi Dinar/Politics
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Baghdad (news) .. detect and Finance Minister Rafie al-Issawi government’s intention to open other accounts in banks in order to protect the new Iraqi funds abroad.

Issawi, said at a news conference after a meeting of the committee charged with preparing Alstrtejip financial years 2012, 2013 and 2014 under his chairmanship was attended by correspondent Agency (news) on Sunday afternoon: “The committee charged with preparing Alstrtejip financial years 2012, 2013 and 2014, which includes representatives from the ministries of finance and oil and the Central Bank and the World International and local governments, agreed on the interest of time technology to provide the financial budget for next year in order to avoid clashes that accompanied the previous budget.

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US Treasury Department: Engaging New Iraqi Leadership on Economic Policies for a Sovereign, Stable and Self-Reliant Iraq

Posted: February 21, 2011 in Iraqi Dinar/Politics
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By: Neal Wolin 2/18/2011

​In support of President Obama’s goal for a sovereign, stable, and self-reliant Iraq, I was in Baghdad this week for meetings with senior government officials, parliamentarians, regulators and banking sector leaders on key economic challenges facing Iraq’s leadership. My discussions focused on priorities facing the new government, including Iraq’s ability to use its oil resources to encourage economic growth and create opportunities for the Iraqi people and better integrating Iraq into the global economy.

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Inflation and monetary policy in Southeast Asia

Posted: February 1, 2011 in Asian Currency Markets
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VietFinanceNews.com – Consumer prices are going up in Southeast Asia as countries recover from the global slump, with food and fuel inflation a particular concern in some, meaning central banks will probably have to tighten monetary policy.

Thailand raised its policy rate in January, its fourth increase since July 2010, and economists expect another rise in March. Vietnam, which is struggling to prop up its currency, raised rates in November and may have to raise them again after the Tet holiday this month.

Speculation is growing that Indonesia’s central bank will tighten policy on Friday.Below is a snapshot of Southeast Asian inflation trends and how policymakers are responding. (more…)