BAGHDAD / Nina / Iraqi banks participated in a Beirut forum to dry up the sources of terrorism and combating the financing of terrorist groups.
The head of the Iraqi private banks association Nuri al-Handal told the National Iraqi News Agency / Nina /: “The meetings to dry up terrorist financing forum, which concluded in Beirut two days ago, is of great importance especially in this stage where the different areas in the region is exposed, primarily Iraq, to terrorism Daash, which calls for the need for concerted efforts to expand the horizons of work direction which serves the goal of addressing terrorism.”
He said: “Iraq was an active contributor in the dialogues held at Forum over two days, representatives of the Association of Iraqi private banks, has been discussed a working paper FATF on combating the financing of Daash and terrorist groups, as well as discuss the issue of / know your customer and client / according to the degree of risk and verification procedures, as well as how to find banking operations that can be exploited and the method of monitoring the operations and the movement of suspicious and unusual money, with the participants in the Forum is keen to identify the developments in the international standards to combat money laundering and terrorist financing.”
He called banking sector in Iraq, to show more concern for the FAQ application and work in accordance with international banking laws, especially those related to the monitoring of the movement of financial and bank transfers, control, stressing the great need for the application of systems for the disclosure of liquidity and maintaining the validity of the confiscation of funds related to the financing of terrorism and the application of prudential regulations related.
He continued: “The banks in Iraq dominated the day and warned the case of very high vigilance, because the banking system is one of the areas of war on money laundering and terrorism financing, where most of the Iraqi private banks originated in exceptional circumstances before the year 2003 and beyond”.
Adding “the Iraqi Central Bank pays today great importance to the phenomenon of money laundering in the light of the ongoing transformation of the economy of Iraq toward a market economy, the CBI is working to issue a new law to combat money laundering, create advanced and integrated modules in Iraqi banks to increase the intensification of censorship.”
He pointed out that “the Iraqi banks now operating in accordance with modern mechanics and according to international standards to enable them to monitor and follow up the money transferred through it, stressing that” the fight against money laundering crimes and terrorism financing, is to protect the national economy and the soundness of financial, banking and commercial operations, to all sectors.”
He said, “The Forum concluded important recommendations in line with the provisions of international law concerning the fight against terrorism, which has become everyone senses the risk and its implications for the present and the future of Arab societies, particularly the risks posed for the sectors of the economy and money in the forefront of the banking sector”.
Long-Presse / Baghdad
The Russian government announced on Thursday its readiness to provide Iraq military aid and expand this assistance in the face of the organization (Daash), as showed that the bilateral relations between the two countries are developing successfully, promised Iraq as “an old and trusted partner”, while stressing Prime Minister Haider al-Abadi said Iraqi side is seeking to develop relations in all fields with the Russian side, the economic and the military, the most prominent.
Russian President Vladimir Putin said during a meeting with Prime Minister Haider al-Abadi in the Kremlin Palace in Moscow and seen by Reuters (range Press) “We are expanding our cooperation in the field of military technology where Iraq is Old friend in the region and a reliable partner.”
Putin told Abadi that “our bilateral relations are developing successfully, working in your country of Iraq and we are talking about billions of dollars.”
For his part, Iraqi Prime Minister Haider al-Abadi “We focus on the development of relations in all fields, including cooperation in the field of military, technical and economic cooperation in the oil sector.”
The Russian Foreign Minister Sergei Lavrov said earlier on Thursday that “Moscow will do all it can to help Iraq to defeat daash”.
The Prime Minister Haider al-Abadi revealed, on Thursday, that “certain” political blocs advised him not to visit Russia, stressed his quest for the development of relations with Moscow in all areas, the Kremlin pointed out that the talks with Iraqi Prime Minister and President Vladimir Putin include military cooperation.
The head of the Iraqi Council of Ministers Haider al-Abadi, on Thursday, met the Russian counterpart Dmitry Medvedev in Moscow within his visit to Russia, which began this morning.
It is noteworthy that al-Abadi, left overnight to the Russian capital Moscow, the official invitation of President Vladimir Putin.
It is noteworthy that Russia announced (26 September 2014), support the efforts of the Iraqi government in the face of organizing attacks (Daash), while confirming with the independence and territorial integrity.
Tomorrow Press / Baghdad: The governor of the Iraqi Central Bank Ali Allaq, Thursday, said the central bank to print large groups currencies, indicating that the aim of the project to support monetary policy.
He said for “tomorrow Press,” that “the reason behind the desire of some people to deal with dollar instead of the dinar is the weakness of the Iraqi currency structure, although it is strong currencies because the biggest coin is a class of 25000 dinars, in order to deal effectively and easily carry, the bank decided to print large categories currencies class 50 and 100 thousand dinars.”
He added that “the central bank’s past in this project and is now in the process of studying some offers to choose the designs and printing companies”, adding that “the currency would be difficult to forge.”
Allaq stressed that “the objective of this currency to print for the monetary policy of the Iraqi currency and support for the implementation of the project to delete the zeros.”
International (Forat) -India has expressed willingness to manage Afghanistan’s air traffic control (ATC) as the U.S.-led international military coalition will stop running the country’s airspace from June 30, said local daily The Times of India Wednesday.
“We have submitted an expression of interest (EOI) for the job. Afghanistan is tendering out the work of managing its airspace and will give the contract to someone with a proven ability and track record. India is one of the biggest air space managers of commercial air travel in southeast Asia,” the report quoted an unnamed senior aviation official here as saying.
India is awaiting details of what the job entails as that would be known once the tenders are made public, said the report.
A final decision will be made if Airports Authority of India ( AAI) pursues its EOI to the logical conclusion, said the report.
Six international companies, including AAI, have shown interest in bidding for Afghanistan’s ATC, according to the report.
Afghanistan is a crucial air corridor on the Europe-Asia route and the country has to find a successor to the U.S.-led forces to manage the ATC that is criss-crossed by almost 300 aircraft daily.
The U.S.-led coalition has been running the Afghan airspace since 2001, when the coalition forces invaded the country in the wake of the 9/11 attacks.
The parliamentary finance committee, revealed Wednesday, the possibility of the use of the new currency of class hundred thousand, fifty thousand outside the country, saying it will increase the strength of the national economy, especially after the deletion of zeros.
Committee member Abdul Qader Mohammed / scales News / “The issuance of new categories of currency and a new edition can be used outside the country will increase the strength of the economy for possible use with traders import and export.”
He said “The new currency will enable the Iraqi traders to deal for easy transport and trading,” noting that “the more up the small amount of cash currency increases the size of the turnout and handle them in the Iraqi market and external economy of the country.”
This “declared the parliamentary finance committee member Masood Haider, for” the formation of a committee to study the issue of coins and categories of the fifty hundred thousand Iraqi dinars, stressing that these categories booting to remove zeros from the Iraqi currency in the future”.
The Youth and Sports Minister Abdul Hussain Abtan, said desire to establish an international friendly at the Sports City Stadium in Basra at the request of the International Football Federation FIFA to lift the ban on Iraqi stadiums.
Abtan pointed to the readiness of the stadium and the presence of infrastructure task to qualify for the establishment of the game, instead of taking place on the International People’s Stadium in the capital, Baghdad.
FIFA conditioned on Iraq to organize a friendly match with one of the teams, under the supervision of a committee of the International Federation, assess the possibility of setting up games in Iraqi stadiums, as a prelude to lifting the ban
Iraqi index, on Wednesday, achieved a gain of about 23.85 points, up by 2.63%, reaching the level of 932.05 points.
Liquidity levels have increased to 3.5 times, reached after the turnover to 9.3 billion dinars, compared to 2.025 billion dinars, the end of trading Tuesday.
Today 14.9 billion shares traded through the implementation of dealing 44 shares, 28 of them rose and 6 fell, while 10 flat.
“North Bank for Investment” issued the most active stocks in terms of volume and value share, during the trading about 2.15 billion shares valued at 4.013 billion dinars.
Iraq Index closed trading on Tuesday, rate up 0.64%, heading toward the level of 908.2 points.
[12:54:08] design: so iyo, what did Saleh mean “not suitabe for such a move now” propaganda?
[12:55:16] TRC: he is saying same thing as the rest, the other guy from parliament said in a couple months they will start delete the zeros, aka not right now
[12:55:43] design: i see…..
[12:56:24] TRC: they are all saying same thing
[12:56:46] design: yes, seems like they are
[12:59:32] When is RV?
[12:59:32] Do we have date and rate
[13:00:06] TRC: when the 50k and 100k is released
[13:02:06] design: ok
[13:02:50] TRC: but of course we got investment law too,
[13:03:49] design: yea, hope that gets done fairly soon
[15:13:29] TRC: they never passed investment law today, was not mentioned at all
[15:13:48] TRC: did alot of readings of various laws
[15:14:08] TRC: long speech on Anbar battle
[15:17:48] TRC: back in session tomorrow
[16:39:31] TRC: see Iraqi people are afraid of devalue of the Iraqi dinar
[18:03:40] teledive: Good morning america had Iraq taking a major loss to isis..I chalked it up to propaganda…:(
[18:06:32] teledive: the way it looked on tv was opposite what Abadi professes..ie. Iraq news says they have a handle on isis..GMA says the Iraqi army was a poorly led unit…full of incompetent soldiers..etc.etc
[18:06:59] TRC: according to Iraqi military commanders it was strategic move, preparing for counter offensive, much larger force moving into position.. Abadi removed Anbar commander, but not sure of what force he was in command of
[18:08:51] teledive: that is a relief GMA was strongly saying otherwise Iraq will go down without More help from USA
[18:09:05] TRC: approximately a force of 100,000 are heading to, or moving into position near a air base outside Ramadi, the city mentioned
[18:09:26] TRC: from all over Iraq
[18:09:48] TRC: 5 brigades from Basra alone
[18:09:56] teledive: that is what I read on your posts and I even replayed the GMA story now I can relax…:(
[18:10:52] TRC: Anbar is the biggest battle, may be the biggest, in fight with “daash”
[18:11:54] TRC: when Anbar does get liberated, daash should collapse, it has been the center of sunni and former regime support since 2003
[18:11:57] teledive: those tanks in the posts looked like they mean business
[18:12:41] TRC: hence it is more important than Mosul
[18:13:19] TRC: it was never really overtaken, by US forces
[18:13:45] TRC: they go in win a battle, then leave, the insurgents return
[18:13:58] teledive: that is what I was reading on the posts but the gma story was so not conveying the same picture.
[18:14:11] TRC: what is gma?
[18:14:24] teledive: Good Morning America..
[18:14:30] TRC: oh
[18:15:31] TRC: even during Saddam era, Fallujah was not messed with, he negotiated with the people for support
[18:16:02] TRC: in Anbar
[18:16:49] TRC: some in that province have shown support for daash, no doubt
[18:16:58] TRC: some do not
[18:17:58] TRC: Abadi did not send forces other than Iraqi military into Anbar until he had asked Anbar provincial council to approve such a move
[18:18:55] TRC: they approved it, a couple days ago, now you will see thousands of volunteers to join in the fight, like battle of Tikrit
[18:19:29] TRC: convoys and air transport are moving forces near Ramadi
[18:20:23] TRC: of course in USA, republicans will be blasting obama
[18:21:04] TRC: political forces associated with republicans in the media
[18:21:31] teledive: yea I thought as much propaganda…:(
[18:21:58] TRC: but, a major point is missing, US forces cannot intervene in a sovereign state without their permission or a declaration of war
[18:22:29] TRC: under Maliki, the parliament voted to have US forces leave
[18:22:39] teledive: now there you go they are stirring the pot via the media
[18:23:06] TRC: Abadi has not asked nor parliament approved to have foreign combat troops based in Iraq
[18:24:08] TRC: some politicians singular approach to have foreign troops, but they do not have the authority
[18:24:51] TRC: Iraqi forces far outnumber isis
[18:25:03] TRC: and they have air power
[18:25:33] TRC: fighting in populated area like a city takes time
[18:26:02] TRC: unless you are going to carpet bomb each city like what happened to Berlin
[18:26:13] TRC: Stalingrad
[18:26:17] TRC: Dresden
[18:26:58] TRC: or like Syrian cities now look
[18:27:05] TRC: rubble
[18:27:50] TRC: Abadi does not want to turn occupied cities to rubble
[18:28:01] TRC: :*-/
[18:28:17] TRC sent an audio message: Yell!
[18:28:55] TRC: that’s how the allies got the Germans out of cities in WW2
[18:29:15] TRC: where they made a stand
[18:29:51] TRC: isis could not care less if they turned Iraqi cities to rubble
[18:30:03] teledive: no they would love it!
[18:30:24] design: right, could not care less
[18:30:27] TRC: Abadi wants to win and preserve as much as possible
[18:30:50] teledive: he wants to lead his country to riches not rubble
[18:31:08] TRC: Iraq has the force capable bulldozing isis and everything in it’s path
[18:31:17] teledive: unlike Maliki that wants to merely line his pockets
[18:31:36] teledive: and leave the country a shambles
[18:32:21] TRC: there is 36 million people in Iraq as opposed to 150,000 terrorist gangs
[18:32:51] TRC: most of population is in south and central areas
[18:33:04] TRC: away from isis battles
[18:33:42] TRC: very sparsely populated regions, where the battles are
[18:33:53] TRC: mostly desert
[18:34:43] TRC: Iraq could send a million men under arms into Ramadi if they chose
[18:35:36] TRC: but would lead to chaos I think, as opposed to orderly assault
The Iraqi Stock Exchange on Tuesday said it had agreed to grant a license for the custodian of the National Bank of Iraq, the Iraq Stock Exchange.
The company said in a statement posted on the Iraq Stock Exchange site, that the stock market has demanded the bank to complete the procedures, which include the provision of the plan, the timing requirements and test electronic system which Bank to link with the market and with the financial systems of the clearing bank.
It demanded the bank exchange scheme to provide work and management of the service between the bank and the relevant authorities by the end of June.
The “Iraqi private bank” may apply to the Stock Exchange for a custodian license.
The Iraqi Securities Commission, has made some observations on the final accounts of the bank.
“Iraqi National Bank” is a private sector bank widely traded and member of Capitol Bank group of Jordan, works directly with Capitol Bank of Jordan to provide banking solutions to its customers in Jordan and Iraq interconnected markets.
The bank’s capital of 250 million dinars, distributed over 250 million shares, par value of JD 1 per share.
Iraqi government’s progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that benefit.
Iraqi street trading days since the news that the Ministry of Finance, represented by the Central Bank will issue a new currency category of “50” thousand dinars and followed after issuing another currency of a larger category of a “100” thousand Iraqi dinars.
The moves in light of the suffering in the country as a result of fiscal austerity that has ravaged the country about more than a year a large deficit in the state budget, through a multitude of objects of expenditure and the adoption of the government a rentier economy, of oil and some light industries, in addition to the face of the country to Daash terrorist war, having to reduce staff in the public sector wages as well as stop the financing of some projects as a result of fiscal austerity.
Dr. Mohammed Saleh adviser to Prime Minister for Economic Affairs told “economic dinars” on the subject, saying: I am with this trend in the introduction of large cash categories because it will raise the efficiency of large cash payments and categories system facilitates the trading of large blocs so they shortened the monetary amounts by half or more and solve the problem of the transfer of those quantities, Iraq still handles cash and not the card that requires time, effort and the culture of the visa regime.
He adds that the benefit of this project was due to work done for years, which does not contradict with the project to delete the zeros reform, there is no need to fear the introduction of these large groups to the market because the financial institutions in the country studied the subject from all sides and is a guarantor of safety.
Some citizens believe that the “large cash categories” to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.
They accuse the state to never take decisions in their interest, through this confusion decisions is well thought out economic feasibility and benefits desired, but are skeptical about a lot of them that there are significant financial mafias and whales want to take advantage of the introduction of these large groups that might cripple the market movement and the elimination of small groups of categories of “250”, “500” and “1000” dinars and the first affected by it is to cancel the taxi buses that operate within the alleys and removed from the “500” to “1000”, the abolition of the pricing “ticket” hospitals, the government’s “500” BD also due to lack of loose change final of daily trading, will be traders are the first beneficiaries of this decision because they would import goods from outside Iraq through that currency instead of running behind the currency of the US dollar or the euro volatile in terms of demand and supply and the purchase price as well.
Citizen “Abu Zahraa al-Moussawi,” 34-year-old fear of this sudden decision to us and says that his fear of greed from merchants, exploitation and opportunists, because large denominations were a big problem in one day, especially in the post-dictatorial regime fall of 2003 as traders unzip large currency, which was at the time 10,000 dinars and 25,000, buy eggs or a dozen full of cigarettes or any other commodity is determined by the dealer himself, citizens are forced to acquiesce to buy some of the issues they do not need them perhaps some people unwilling to buy eggs table of the market and other goods.
He adds that the ordinary citizen fears of a repeat of the same scenario, especially since there is chaos in Iraq and the absence of economic sergeant in the market now traders on foot to carry out acts of earning profits is due and multiply.
It recalls that monetary categories in the country has gone through many stages and each time increased in number and pulls small currencies “loose change”, rising prices and growing, while large currency chasing small currencies remain as it says modern economic base, increasing numbers of financial categories entering the market and gold.