Baghdad/JD/…The Economic Committee in the House of representatives, the Committee called for the Central Bank to implement a project delete zeros of the Iraqi currency.
Citigroup, Bank announced Citigroup Alamerreqi the banking services, on Monday, to open an office in Baghdad to become the first U.S. bank to expand its services to include Iraq, betting in this his move on the long-term economic opportunities in the oil-rich country.
Since the change of the former regime in 2003 Iraq adopted a market economy which is reflected in international economic relations and make it focus on the role of the private sector in development, and confirmed the Constitution
Revealed Foundation Singaporean money management, said Monday that the five private banks in Iraq has achieved total profit than the 207 percent during the past three two, while expected to continue that sector profitability and growth in capital over the next decade, despite the difficult business in Iraq, called Iraqi banks because “overcome some of the challenges” to continue its increasing growth. “
expressed the Islamic Development Bank (IDB) Saudi Arabia’s willingness to provide funding and technical support to a project that aims to make Iraq a strategic corridor for trade with neighboring countries, including Saudi Arabia.
Baghdad (News)/report/bahtik/… As the Iraqi dinar exchange rate against the US dollar decreased significantly during the past period, raised many questions about the reasons for this decline, although issuance of new measures by the Central Bank on selling hard currency which I consider by some as supportive of Iraqi dinars.
Iraq is still struggling to overcome the economic effects of the war and armed actions and political rifts and the fragile security situation. For its emerging banking sector, the challenges do not stop at this point. According to the official website of the Central Bank of Iraq, there are seven state-owned banks in the country and 32 banks waged, and 15 foreign banks, but analysts say there is a section of government banks – especially Rafidain and Rasheed – controls 90% of the banking business.
Research and Planning Minister and Minister of Finance and agency Prof. Dr. Ali Yousef Shukri with a delegation from the World Bank restructuring Rafidain and Rasheed, His Excellency said in a joint news conference «We received a delegation from the World Bank and discussed with them the implementation of the program in Iraq.
12:00 2013-04-03
BAGHDAD – babysit – Research and Planning Minister and Minister of Finance and agency Prof. Dr. Ali Yousef Shukri with a delegation from the World Bank restructure the Rafidain and Rasheed. Said Shukri in a joint news conference, “We received a delegation from the World Bank and discussed with them the implementation of the program in Iraq. Stressing that this program is a grant from the World Bank and includes two axes to restructure the Iraqi banks فالمحور first reinforces the development of human capacity because management banks must keep pace with the latest developments and developments in the world and the other side focuses on the problem get out of debt accumulated or dead is old debt that does not solve it today, which weighed still clog Iraqi banks also discussed the mechanism of action for implementing this program. explaining, that the Ministry of Finance would be willing to provide all facilities for this program and continued, today we have to work with all international organizations and specialized international agencies because Iraq needs these options being over three decades and more has been subjected to ignorance too stressed by saying, that our banks think that the mission accepting deposits and lending non-interest, stressing that the system global banking assumes today is to be more sophisticated and more expansive in the area of work lending and borrowing, and added all efforts today pour the development of the banking system and monetary will be channeled to support service value of Iraqi dinar, stressing that “support the value of the Iraqi dinar is not the banking system applicable only being governed by several considerations including stocks state of currency and gold, as well as quantities of oil exports and the stability of the economic situation as well as the political situation and the Ministry of Finance will not hesitate to take any step evolution of the banking system for the development of the value of the Iraqi dinar never believe that this is a national task .. and that the World Bank did not ask the Iraq raise the price of oil derivatives and pointed out that any economic openness requires that accompanied the expansion of banking activity, indicating that part of the plan of the Ministry of Finance and the government develop a plan for the expansion of the private sector banking and explained that there are strenuous efforts made by the Government in all international forums and mobilize the Arab and international levels to support positions Iraq out of Chapter VII. He pointed out that the government has formed a committee for the protection of Iraq’s money headed by Deputy Prime Minister for Economic Affairs and membership more than one sector, including the ministries of planning, finance and trade, as well as the CBI and the legal advisor to the Prime Minister, where presentations were made to the Iraqi government to protect their money, stressing, he was looking at these offers that the biggest guarantee for the protection of money and efforts are continuing to get better alternatives … p / i
alrayy.com
The Central Bank of Iraq (CBI) has announced that the introduction of the new Iraqi currency has been further delayed due to teething problems with the cutting-edge technology that it will employ.
