Posts Tagged ‘Private bank’

CBI confirms it continues to support the banking activity in accordance with the declared policy

Posted: May 23, 2013 in Iraqi Dinar/Politics
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23/05/2013 – 12:57

said the Iraqi Central Bank, on Thursday, continuing to support the banking activity in accordance with the policy stated, as called for all relevant parties to avoid irresponsible remarks that do not conform with the facts which it operates. ,

the bank said in a statement issued today, and received “Alsumaria News”, a copy of “The Governor of the Bank and the Agency Abdul Basit Turki Saeed held, today, a meeting with a number of managers of Commissioners and officials of private banks,” noting that “the governor said during the meeting to the bank continued to support the banking activity in accordance with the policy stated, Since qualifies these banks to perform its national role and contributing Avenue in building the economy of Iraq. ” (more…)

Economic Committee Member: high exchange rates of the dollar against the dinar currency behind the drain

Posted: May 14, 2013 in Iraqi Dinar/Politics
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12:10 05/14/2013attributed member of the parliamentary Finance Committee Haitham Jubouri reasons for the high exchange rates of the dollar against the Iraqi dinar currency to the drain by some private banks, which owns companies for the currency converter.

Jubouri said in a press statement that “price-fixing remittances equivalent to two to three times the real price example, if the price of Item five $ 5 it up in the hawala to $ 20 sold amount of the surplus is $ 15 to the black market and that is what is reflected on the currency dramatically” . (more…)

Banking Expert: bank fails due to lack of understanding and a joint coordination between the Central Bank and private banks

Posted: May 9, 2013 in Iraqi Dinar/Politics
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09-05-2013 11:08 AM

Baghdad (newsletter). Banking expert blamed the beautiful name, why the banking sector a lack of common understanding and cooperation between the Central Bank and private banks, in terms of logistical and technical assistance.

A beautifully (News Agency): there is a common understanding and coordination between the Central Bank and private banks on the development of the banking system and identify the most important obstacles to finding appropriate solutions. (more…)

Classic banking service in Iraq; a stumbling block to foreign investors

Posted: April 14, 2013 in Iraqi Dinar/Politics
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04/13/2013 (23:01 pm)

See specialists in the matter of financial lack real competition between government and private banks, noting that the Banking Act current marred a lot of gaps that are reluctant to work banks.

and demanded need new legislation regulating banking business in the country and stir wheel investment. (more…)

Finance Committee Member requests Banking Act to quickly reach parliament for approval

Posted: April 9, 2013 in Iraqi Dinar/Politics
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A call to State Consultative Council to send the Banking Act to the parliament for approval.
09/04/2013 09:19:00

A member of the parliamentary Finance Committee, Najiba Najib called the (Shora Council) to speed sending the new banking law in order to pass it in the House of Representatives.

MP, of the Kurdistan Alliance said in a statement to the National Iraqi News Agency / NINA / that the new law of the banks and the CBI supports the independence of the bank and devotes separate administration for the capital of all government and private banks, noting that the law will also allow the banks to direct investment and to engage in other commercial activities after that was forbidden. (more…)

Economic Committee Member: CBI tightened control of foreign currency transferred outside the country

Posted: March 26, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-03-26 at 12.38.56 PM26-03-2013 12:55 PM

Member of the Committee for economy and investment Deputy//Amer winner, the Central Bank tightened control of foreign currency remitted out of the country for the purpose of imports, the fact that there is money to prevent the entry of goods to the country.

A winner (News Agency): the Central Bank is required to tighten control on the sale of hard currency operations and other operations transferred to the outside, because there are some foreign currency funds transferred abroad under the pretext of import goods and in fact there is no goods and materials come to the country. (more…)

Economic Committee Member: Work of banks in Iraq; Not in line with the country’s economic growth

Posted: March 26, 2013 in Iraqi Dinar/Politics
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witnessing government and private banks in the country confusion great in their work as a result of the lack of a strategic plan with the government, as was confirmed by some officials in those banks that if the situation continues as it is now, those banks Stdmahl and then fade.

carried Member Economic Committee in the House of Representatives Abdul Hussein Abtan “central government responsibility mismanagement economic profile in the country,” asserting that “the absence of vision the government’s economic reflected negatively on all institutions, private banks and local banks.” (more…)

CBI demanding banks show receipt of selling and buying of dollars to stop laundering

Posted: March 17, 2013 in Iraqi Dinar/Politics
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Central Bank announced new measures to prevent money laundering operations in local markets by requiring private banks Bossullac purchase and receipt of the quantities of hard currency sold.

The official source at the bank said the central bank has taken measures and new mechanisms within the work for the current period included a demand that all private banks and banking offices bring receipts receipt and sale of foreign currency sold to ensure there is no laundering of money in the domestic market and currency smuggling out of Iraq from businessmen and traders unknown .

He said the bank will work to ensure the stability of the exchange rate of the dollar in the markets through the control of dollar amounts sold to banks and authorized agencies in order not to activate the cases speculation in the foreign currency of unidentified bodies, as happened in the past.

(more…)

Association of private banks attributed the high price of the dollar against the dinar to strict procedures of the CBI

Posted: March 12, 2013 in Iraqi Dinar/Politics
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Published in: 9:49 pm, March 12, 2013

BAGHDAD (Iba) .. Refer director of the Association of private banks Abdul Aziz Hassoun, the high exchange rate of the dollar against the Iraqi dinar to the recent actions taken by the Iraqi central bank tightening in foreign currency transactions.

He said Hassoun told the independent press (Iba), “The Central Bank took action to stop selling the dollar compared to highlight the identity card conditional on the submission of a passport valid for the purpose of obtaining foreign currency, adding: that these measures in place everywhere in the world.” (more…)

Absence of a new law is the most prominent obstacle toward development of private banks

Posted: March 10, 2013 in Iraqi Dinar/Politics
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10/03/2013 13:29:00
BAGHDAD / NINA / The economic expert, Salam Smeisim said, “What is hindering the advancing of the private banks in Iraq is the absence of a new law regulating their work.” (more…)

Specialists: Iraqi banking environment needed for sophisticated international banks to create a competitive atmosphere and the transfer of expertise and technology

Posted: February 19, 2013 in Iraqi Dinar/Politics
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Date: Monday 18/02/2013 06:31 pm

He attributed the number of deputies and specialists in banking reason behind the Iraqi banking sector for Global to legislation old still followed the local banking system. Calling during their talk to the need to encourage international banks to open branches in Iraq to create an atmosphere competitive between local and foreign banks and to benefit from the transfer of expertise and developments in the banking field. (more…)

CBI looking for methods to advance level of IQD and bank involvement; Says Chapter VII threaten bank investment

Posted: February 16, 2013 in Iraqi Dinar/Politics
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Screen Shot 2013-02-16 at 12.22.47 PMCBI looking at mechanisms to support investment in Iraqi dinar
Published on Saturday, 16 February / February 2013

Central Bank, Saturday, search mechanisms to support investment in Iraqi dinars, pointing out that he was seeking to boost his tally including currency makes it controlled.

The central bank governor said Abdul Basit Turki agency, following a meeting directors-general of private banks and the Iraqi civil operating in the country, for “obelisk” that “it is necessary to develop plans modern and necessary for the advancement of the level of the Iraqi dinar and the involvement of private banks Iraqi foreign to this approach.” (more…)

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…)

Finance Committee: prepare for meetings with international experts to restructure banks

Posted: February 3, 2013 in Iraqi Dinar/Politics
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03/02/2013 05:24
Parliamentary Finance Committee is preparing for meetings with international experts during the month of March next, in order to restructure the banks.

Committee member Najiba Najib said in a statement to the Center Brief for the Iraqi Media Network that the conference consists of several axes axis legislation and laws that must initiate and adjusted, pointing to the existence of a government committee executive in the process of restructuring.

http://bit.ly/VHUpvR

Parliamentary Finance Committee calls for deepening cooperation between the banks to enter the global market

Posted: February 2, 2013 in Iraqi Dinar/Politics
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Published on Saturday, 02 February / February 2013 19:18

The decision of the Finance Committee called parliamentary Ahmed electrodes, Saturday, to deepen the cooperation between the private banks and the Iraqi government and open more channels for cooperation through the development of banking systems, to enter the global market and the exercise of sophisticated transactions. (more…)

A bank expert: local banks and its growing need for amendments

Posted: February 2, 2013 in Iraqi Dinar/Politics
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Date: 2013-02-02 11: 32: 48 Saturday

Baghdad (newsletter). Banking expert said Mohsen Ali, that NCB continued growing their capital because of the increase in the size of their deposits, the banks amendment Bill for the support and advancement of the banking sector.

Ali (News Agency): the annual reports issued by the Central Bank indicates that private banks in continuous growth and has made a significant contribution to the development of the national economy through the financing of investment projects in all economic sectors. (more…)

Finance Committee directed to enhance coordination between the government and global banks

Posted: February 1, 2013 in Iraqi Dinar/Politics
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31/01/2013 08:56
Said the parliamentary Finance Committee, Thursday, it has developed a plan with the Ministry of Finance to enhance the electronic communication between the government and global banks in the next stage.

The committee member said Najiba Najib’s (imn) “The committee agreed with the Ministry of Finance to develop a plan to electronic Tazizaltoasl between banks, government offices and banks advanced international banking transactions.” (more…)

Parliamentary Finance: currency stability proof of the success of the CBI

Posted: February 1, 2013 in Iraqi Dinar/Politics
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30/01/2013 08:52

BAGHDAD / Bri Center for the Iraqi Media Network IMN – The parliamentary Finance, the central bank is going in the right direction as evidenced by the stability of the currency rate and lower sales of the bank.

A member of the Finance Committee Haitham al-Jubouri’s (IMN) that “there is stability operations seen in the central bank and it is going in the right direction and the proof of that currency Asagrar and lower sales.” (more…)

Bankers: the integration of small banks to ensure their survival in the global economy map

Posted: January 29, 2013 in Iraqi Dinar/Politics
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01/28/2013 (23:00 pm)
Said specialists in regard banking that merger small banks with each other to ensure its survival and competition in the map of the global economy, noting that developed countries seek with the present to establish banks giant by Union banking establishments to serve as the top players in the field of banking.

The head of the Association of Banks civil Abdul Aziz Hassoun said in an interview to the extent that: “the banking system in the country consists of a large group of small banks that can not keep pace with developments in the banking sector in the countries of the world advanced” pointing out that the best way for the advancement of these small banks calls to merge with Among them, noting that international banks have made ​​in advanced stages of cooperation emerged as international banks a major product of the merger. (more…)

Private banks seeking to enter global markets

Posted: January 21, 2013 in Iraqi Dinar/Politics
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21/01/2013 12:00 am

confirmed Association of Iraqi private banks that opportunity for banks civil to enter deeply into the global financial markets, especially after the recent decisions issued by the Central Bank for the development of the banking sector, it is obliged to develop itself and to use the banking systems advanced.

authoritative source in the Association said “morning” The global banking sector is witnessing developments equal in the use of technology, which appear with banking products adapted to these systems at a time when Iraqi private banks and access to such activities and the use of this technology and (more…)

Finance Committee warns of the danger of not supporting the country’s banking sector

Posted: January 20, 2013 in Iraqi Dinar/Politics
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Confirmed the Finance Committee in the House of Representatives that the national economy will be affected all sectors if they are not ambulance banking sector, at the same time reported the Association of private banks that the private banking sector began to grow increasingly.

said committee member Faleh sari told Euphrates News that ” the banking sector of the important sectors and vitality and contribute significantly to the calendar and stimulate the national economy, whether that relying on the basis of internal movement or on investment and attract money and also helps a great help in the volume of imports and foreign contracts. ” He pointed out that “when we open letters of credit must be there Banks sober able to be equipped to deal with the corresponding international. ” (more…)

Expert stresses the importance of the amendment to article 28 of the General Banking Act

Posted: January 15, 2013 in Iraqi Dinar/Politics
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15/01/2013 12:00 am

economic expert said Saif Hilfi importance of amending Article 28 of the General Banking Act to support investment in the Iraqi banking sector, calling for the need to strengthen relations with Arab banks for the advancement of local banks.

Hilfi said in a press statement yesterday, said that private banks could play a major role in the economic development through the establishment of a fund for lending to private investment projects in the country, because it has a high potential and helps capital. (more…)

Economist: you must modify the article (28) of the Banking Act to promote investment in the banking sector

Posted: January 14, 2013 in Iraqi Dinar/Politics
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Date: 13/01/14 10: 32: 43 Monday

Baghdad (newsletter) … Economic expert Andrew sword, the importance of the amendment of article 28 of the General Banking Act to support investment in the Iraqi banking sector, calling for the need to strengthen relations with Arabic banks to promote the reality of local banks.

He said Andrew (News News Agency): that private banks could play a significant role in economic development through the creation of a fund to lend to private investment in the country, that have high potential werasmal help.
(more…)

Baghdad Economic Forum recommends the development of civil laws on banks

Posted: January 13, 2013 in Iraqi Dinar/Politics
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Published on Sunday, December 13 2 / January 2013 17:02
Recommended banking Baghdad Economic Forum, Sunday, expand to banking legislation and the introduction of a number of laws relating to civil banks at the conclusion of its work in the capital, Baghdad.

The governor of the Central Bank of Iraq and Abdul Basit Turki Agency for “obelisk”, “The Baghdad Economic Forum concluded in the capital of Baghdad after it was recommended to expand to banking legislation and the introduction of a number of civil laws on banks.” (more…)

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).
(more…)

Call for the establishment of specialized banks

Posted: December 22, 2012 in Iraqi Dinar/Politics
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 Baghdad / agencies confirmed member of the Finance Committee in the House of Representatives Hassan al-Bayati, the importance of establishing specialized banks to support economic sectors Kalsnaaah and agricultural development in the country.
(more…)

Khbayrmala: law must be modified format allows banks to invest in the banking sector

Posted: December 14, 2012 in Iraqi Dinar/Politics
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Agency news – 12/14/2012 – 12:51 pm

Baghdad (news) .. Called financial expert Khaled al-Bayati, to the need to amend the Banking Act General format support financial and banking sector in the country.

Bayati said (of the Agency news) Friday: The Banking Act current number (94) for the year (2004), contains the items and materials are inconsistent with the work government and private banks, as well as he does not recognize Islamic banking has made ​​banking system is regular. (more…)

Banker: Forum economic historic event would be held in Baghdad this weekend

Posted: December 2, 2012 in Iraqi Dinar/Politics
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Date: 2012/12/02 13: 54: 05 Sunday

Baghdad (newsletter) … Public Relations Director noted in private Iraqi banks Union Akil Jalal, the importance of economic and banking Forum on Baghdad, as it would be the first historic event in Iraq, where Arabic and Iraqi banks will walmso’leyen in the Government and the Central Bank of Iraq over two days in Baghdad. (more…)

Expert: restructuring of Government and private banks a necessary to support the national economy

Posted: November 29, 2012 in Iraqi Dinar/Politics
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On: 2012-11-29 12: 21: 30 Thursday

Baghdad (newsletter) … The Economist said Jalil Al-Rubaie, the importance of restructuring the banking sector by the Government and private subsidiary through a capital increase and the introduction of modern banking technology in their work, to the advancement of the national economy.

He said Al-Rubaie (News Agency news) on Thursday that the Iraqi banking system has fallen behind the evolution of global banks as a result of wars and international sanctions which was imposed on Iraq during the 1990s, but make Iraqi banks lacking modern means and mechanisms that facilitate and complete banking transactions quickly. (more…)

Legal expert calls for banks that earned billions of central bank auction identify beneficiaries

Posted: November 16, 2012 in Iraqi Dinar/Politics
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Friday November 16, 2012
called legal expert Tareq Harb, private banks “that there are no more than a handful” T received billions of auction central bank identify the beneficiaries, noting that achieved hee banks of the profits outweigh the profits of U.S. and European banks.

(more…)

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