Thursday, April 18, 2024
Government advisor: Bank structuring decisions are a precursor to comprehensive economic reform, 18 APRIL
Government advisor: Bank structuring decisions are a precursor to comprehensive economic reform
The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, considered the decisions to restructure government banks “a prelude to comprehensive economic reform.”
Saleh said {to Al-Furat News} that: “The decisions to restructure government banks by dividing or merging are within the framework of the reform policy pursued by the Prime Minister, which he finds in raising the competitiveness and efficiency of government banks as an introduction to comprehensive economic reform.”
He added, “It must start with government financing institutions that dominate 85% of banking activity in our country today and face regulatory obstacles inherited from previous eras that were riddled with bureaucracy, monopoly of banking business, and loss of efficiency.”
Saleh added, “The path to economic reform begins with financial and banking reform.”
Last January, the Council of Ministers approved the banking reform plan and approved the following:
1- Direct contracting with Ernst & Young; To study the issue of restructuring the Rafidain and Rasheed banks, present its recommendations regarding them, and propose a road map in this regard, within 6 months.
2- Direct contracting from the Industrial Bank with the company (Ernst & Young); To study the issue of merging banks (industrial, real estate, agricultural) into one bank from its specialized experts, provide the appropriate recommendation regarding it, and determine the time period required for the merger and the mechanism for transferring balances to the new bank.
3-Direct contracting from the National Insurance Company with Ernst & Young; To study the issue of merging the National Insurance Company with the Iraqi Insurance Company, into one company from its experts and specialists, and provide the appropriate recommendation regarding it, and determine the time period required for the merger and the mechanism for transferring its funds to a new company, as an exception to the instructions for implementing government contracts (2 of 2014), and the controls issued Accordingly.
alforatnews.iq
"RV UPDATE" BY WOLVERINE, 18 APRIL
Wolverine
“My Contact confirmed that there was a “pause” on everything because of our safety. But it was lifted. She said this is the closest we have ever been. She doesn’t want to give dates. But things can go any moment. Keep watching Iraq – big announcement coming soon.”...
Oil holds the Iraqi Central Bank responsible for stopping electronic payment at filling stations, 18 APRIL
Oil holds the Iraqi Central Bank responsible for stopping electronic payment at filling stations, 18 APRIL
Shafaq News/ The General Company for Petroleum Derivatives, affiliated with the Iraqi Ministry of Oil, revealed on Wednesday the reason for the cessation of electronic payment operations at gas stations in the capital, Baghdad.
Director of Oil Derivatives, Hussein Talib, told Shafaq News Agency that electronic payment operations at gas stations are the responsibility of the Central Bank of Iraq, indicating that a defect occurred from the Central Bank in the electronic payment system.
He stressed that the bank is currently working to address this defect that occurred since yesterday.
Since Wednesday morning, electronic payment operations for filling improved gasoline have been halted at most filling stations in the capital, Baghdad.
On March 22, 2024, the Ministry of Oil – the Oil Derivatives Distribution Company announced the start of supplying vehicles with “super and improved” fuel according to POS electronic payment cards in all governorates.
shafaq.com
"RV UPDATE" BY MILITIAMAN, 18 APRIL
Militia Man
They just said they're going to decrease the value of the dollar, which doesn't make any sense. How is Iraq going to decrease the value of the dollar? The only way they can do that is if they increase the value of their currency because the United States dollar is...the most prolific currency in the world. The volume traded is the largest in the world...
The final provisions of the SFA are on the table...Security is set. The economic aspect is underway. We're going to watch al-Sudani finish up his signing of contracts... I can't imagine ...how are you going to fund all this with an exchange rate of 1310 IQD to the USD? And how is it that that you've said the Iraqi dinar, Mr Al-Sudani, is stronger than the dollar?
Al-Sudani's visit to the White House...we know he's already done that...They brought about 130 different people with them. I think they said three planes worth...That [Large] motorcade yesterday in WDC was so very telling in just how important today and tomorrow will be. If you are not excited by now? Wake up!
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