Friday, July 26, 2024
Iraq discusses with an international company the details of restructuring government banks, 27 JULY
Baghdad – Mil
Finance Minister Taif Sami discussed, on Thursday, with the international audit and supervision company “Ernst and Young” the plan to organize the work and restructuring of Iraqi government banks.
The ministry said in a statement, and responded to “Mail”, that “Sami chaired a meeting at the ministry’s headquarters with the company’s representatives, where a draft was submitted by the audit company on the organization and restructuring of the Rafidain and Al-Rasheed banks, in addition to discussing the proposed plan and the stages of implementation and determining the frameworks of the contract and formulating them in line with the priorities of reform and development.”
According to the statement, Sami stressed, “the importance of benefiting from the expertise of sober international companies such as Ernst & Young in the field of organizing and restructuring financial institutions, as the ministry aims to make Iraqi banks internationally and locally acceptable to provide better services to citizens.”
“The audit firm’s experiences will contribute to improving the efficiency and effectiveness of financial institutions, as the integration and organization of financial institutions are expected to improve the quality of banking services provided and enhance investor confidence in the Iraqi economy,” the statement said.
RV UPDATE BY WALKINGSTICK, 27 JULY
Walkingstick
This YouTube commercial you're going to be seeing soon...This is pretty big. They're just going to talk more about the monetary reform and now they're going to tell the international world publicly...It is not just for the Iraqi citizens. It's for the world to see and understand Iraq's monetary and economic reforms. This is an excellent way to reach out to international investors.
Walkingstick
There's absolutely nothing getting in the way of this monetary reform. Announcement to the Iraqi citizens as promised by Sudani and Alaq.
It's no secret. The world knows about the monetary reform of the Iraqi dinar. The international world knows about a new exchange rate that is about to come out of this. It's no secret, everybody knows the Iraqi dinar is about to go up in value.
[Response to the recent video below and articles coming out about Iraq's monetary reform] That's how it's supposed to work. The monetary reform education to the citizens. There's going to be a slew of articles that are still coming. This is just the beginning.Economist: The Iraqi Banking Sector Has Achieved Significant Growth, 27 JULY
Banks Economy News – Baghdad Today, Thursday, the head of the “Iraq Al-Mustaqbal” Foundation for Economic Studies and Consultations, Manar Al-Obaidi, confirmed that the Iraqi banking sector has been able to achieve growth in many areas during the past period.
Al-Obaidi said in a tweet followed by “Al-Eqtisad News” that the data of the Iraqi banking sector between 12-31-2022 and 5-31-2024 indicate that the banking sector, despite all the challenges and shocks it faced during this period, was able to achieve growth in many areas, specifically in financial inclusion, as well as an increase in bank assets and maintaining the volume of deposits despite everything that was raised about the sector.
Al-Obaidi published a table showing all the figures related to the Iraqi banking sector between December 13, 2022, and May 31, 2024. At Link Below is the table published by Al-Abidi:217 views 07/25/2024 - https://economy-news.net/content.php?id=45590
RV UPDATE BY CLARE, 26 JULY
Clare
Article: "The US Federal Reserve adopts a new strategy towards Iraq.. The dollar is threatened with rising to unprecedented levels"
Quote: "The Federal Bank has detected political influences from the Iraqi government..
.The US Federal Reserve will not be able to wait forever, and it is expected that there will be federal measures that may occur at any moment, and there will be a sudden and large demand for the dollar, which will lead to a decrease in the value of the Iraqi dinar against the dollar, which will generate great pressure on the Iraqi banking system, the Iraqi economy and the official political system. "
Article: "Iraqi banking system..A significant increase in the number of bank accounts and the volume of deposits for citizens"
Quote: "The banking system in Iraq is gradually regaining citizens’ confidence...In Iraq, economic and political challenges over the decades have provided a strong justification for keeping money at home rather than in banks.
However, the accession of the Iraqi Deposit Insurance Corporation (ICDI) to the International Association of Deposit Insurers was a decisive step in improving confidence in the banking system.
Since its accession, Iraq has witnessed a significant increase in the number of bank accounts and the volume of deposits...This development enhances Iraq’s ability to attract investment and support economic growth by converting savings into productive investments."
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...