Friday, May 24, 2024
Advisor To The Prime Minister Highlights The Importance Of Bank Credit In Strengthening The Economy, 24 MAY
Advisor To The Prime Minister Highlights The Importance Of Bank Credit In Strengthening The Economy
May 22, 2024 Baghdad/Iraq Observer Today, Wednesday, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Saleh, identified three main benefits of bank credit, stressing that
increasing bank lending activity
raises growth rates and
economic well-being. Saleh explained,
“Bank credit is a vital financial tool for providing liquidity and financing economic activity to individuals and companies.” He pointed out
three main benefits of bank credit, which are that it contributes to financing it,
generating job opportunities
,
stimulating innovation, and
promoting economic and social growth.
It is linked to an increase in bank savings rates through an increase in bank deposits, as banks provide distinct savings accounts.
It also contributes to
meeting the needs of productive sectors and
financing the purchase of real estate and educational and medical expenses,
which improves the standard of living.
Saleh added that increased lending activity
enhances economic activity and
raises growth rates and prosperity,
provided that it does not conflict with the goals of monetary policy and economic stability.
https://observeriraq.net/مستشار-رئيس-الوزراء-يبرز-أهمية-الائتم/
"ABOUT THE VIETNAM ECONOMY STATUS" BY GOLDILOCKS, 25 MAY
GOLDILOCKS
The link below provides information on Vietnam's review by the US Department of Commerce regarding Vietnam's ability to move into a Market Economy.
My understanding from the previous article on Vietnam reviewed is that this is not a graded review. It is simply a valuation of the types of goods and services they can provide comprehensively.
Vietnam is showing steady growth in several areas of their Market. Their potential to increase National Capital Investment opportunities on a Global scale is evident.
Clearly, hurdles are being cleared for Vietnam to move into a Market Economy. A Market Economy will allow them to freely move their money through supply and demand.
Credit Valuation Adjustments on their currency will be determined by Vietnam's ability to move their goods and services near and far at competitive rates.
© Goldilocks
https://vietnamnet.vn/en/vietnam-business-news-may-12-2024-2279536.html
----
Vietnam's Foreign Exchange Rate Review:
HCMC (Saigon) inspects authorized foreign exchange agents.
The State Bank of Vietnam-Ho Chi Minh City Branch (SBV-HCMC) has urged commercial banks to conduct inspections of their authorized foreign exchange agents and submit reports on the findings to the SBV-HCMC no later than June 15, 2024.
The SBV-HCMC has issued a letter requesting commercial banks and branches of foreign banks authorized to engage in foreign exchange activities within the city to conduct inspections of the authorized foreign exchange agents appointed by commercial banks.
Accordingly, commercial banks are required to inspect their authorized foreign exchange agents, covering compliance with legal regulations, adherence to foreign exchange agency contracts, identification of any existing limitations or misconduct, and the outcomes of any corrective actions taken.
The SBV has urged commercial banks to conduct these inspections on authorized foreign exchange agents appointed by banks to ensure compliance with regulations governing foreign currency transactions and the appropriate use of foreign currency, thus contributing to promoting the development of production and business activities, import-export, tourism, and services.
Simultaneously, commercial banks authorized to delegate foreign exchange agents must strictly adhere to all legal regulations regarding the delegation of authority to economic organizations to ensure that the appointed agents comply with legal requirements, adhere to contracts, and play a crucial role in stabilizing foreign exchange rates, the foreign exchange market, and socio-economic development.
https://vietnamnet.vn/en/vietnam-business-news-may-12-2024-2279536.html
Statement Issued By The Presidency Of The Anti-Money Laundering And Terrorist Financing Council, 24 MAY
Statement Issued By The Presidency Of The Anti-Money Laundering And Terrorist Financing Council
May 22, 2024 Statement issued by the Presidency of the Anti-Money Laundering and Terrorist Financing Council
The Middle East and North Africa Financial Action Task Force (MENAFATF), at its general meeting, held in the Kingdom of Bahrain for the period from 19-23 May 2024,
approved the mutual assessment report for the Republic of Iraq, which reflects its great commitment to applying international standards to combat money laundering and the financing of terrorism.
The report issued by the organization highlighted the
ability of the committed system to combat money laundering and terrorist financing in Iraq, and the
great efforts made by the state in combating these crimes, in accordance with solid international standards.
The report stressed
understanding the risks of money laundering and terrorist financing, and the
effectiveness of implementing measures to combat these crimes, including
international cooperation and
confiscation of proceeds of crime, as well as
investigation and prosecution.
The Presidency of the Anti-Money Laundering and Combating the Financing of Terrorism Council takes advantage of the opportunity to extend sincere thanks and appreciation to His Excellency the Honorable Prime Minister and the Honorable President of the Judicial Council,
for the support they provided to raise the evaluation process, as well as to extend its thanks to the members of the Anti-Money Laundering and Terrorist Financing Council and the Anti-Money Laundering and Terrorist Financing Office.
Money and terrorist financing, and all judicial and governmental bodies and all formations of the Central Bank of Iraq, which have contributed and worked over the past two years to provide the evaluation requirements in a way that reflects the real reality of effective judicial and government procedures in developing the system to combat money laundering and terrorist financing.
Ali Mohsen Ismail
Chairman of the Anti-Money Laundering and Terrorism Financing Council
Governor of the Central Bank of Iraq https://cbi.iq/news/view/2588
"CONVERSATION BETWEEN GAZELLE AND GINGER FROM GINGER TELEGRAM ROOM, 24 MAY
💢 Conversation continues in chat - re timing of The Event 5.23.24
💢 Gezelle, Liberty Lounger Extraordinaire: So we should be looking good in 2 weeks? I can't believe we are actually seeing a timing prediction. This is awesome!!!
💢 Ginger: Anything could happen.... We'll see. I'm liking June, I'll be honest with you -- but I've got to see those non negotiable markers play out that I've taught y'all. Got to.
This is the reason I've always been guarded - and very conservative - regarding my thoughts on the timing, but I've been right to be that way, too.
Because while so many of the gurus are calling it for "now, today, this week, this weekend", I'm over here like, "naw, boo, we've got some more here to take care of methinks. Little more time IMHO".
That's what it's looking like right now , I believe. 🤔🧐 If these big GCR things play out like we want them to, right away, yes, I can see mid June or just after. Highly plausible. But I'm not calling it.... I'm still gonna watch from my 40K perch above the rollercoaster 🎢 and the Camper playground. 😛😆🤗
#HappyCampers #RVThereYet
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