PD Member News Excerpts & Highlights Wednesday 5-24-17
MrsClassy: Banking expert calls for the activation of monetary policy
May 24, 2017 Called banking expert Samir Nasiri, the Iraqi Central Bank to activate its monetary policy to support the private banking system, and re-examine the policies and lending departments of credit risk, with an emphasis on some of the observations studied in the framework of the strategy adopted in the coming years.
He Alnasiri, that the implementation of the strategy of the Central Bank of Iraq for the coming years, requires a lesson set of observations, including monitoring the implementation of future policies of cash until the year 2020 with the contribution of the banking sector in gross domestic product (GDP),
He added that it is necessary to seek to address the apparent gap between the fiscal policies of the state and monetary policies adopted by the Central Bank and the requirements of the anti-inflationary pressures, in addition to reducing current spending and coordination in the plans and programs that save the Iraqi economy from financial collapses
He also pointed Alnasiri, to the importance of activating the monetary policy to support the private banking system, and the revision of policies and lending mechanisms of credit risk management in the granting of credit to small and medium loans, in addition to investment in production and investment sectors that achieve cash flow, and revive the economic cycle, which contributes to economic development and diversify the financial resources of the general budget.
He stressed the importance of the adoption of boards of directors in the strategy of banks operational risks and implementation, and review debt doubtful according to the list of guidelines, re-elasticities and periods of time for additional banks to liquidate these debts accruing mostly to civilian migration from their provinces for security reasons beyond their control.
And called for the restructuring of the particular government banking sector, with an emphasis on the need to study the allocation of some of its departments, and to activate the operating banks to expand their banking services and diversify,
particularly to increase credit and investment share in a balanced manner with total revenues into these banks an effective pillar of economic growth, provided that the move away from monopoly some banking operations and the withholding of government activities and public institutions for private banks.
and to prevent speculation that harm the Iraqi assets disproportionate real value, calling for the establishment of a fund or a private portfolio certificates of deposit issued by banks wishing to address the deterioration of stock prices.
The request to add a new bank management current investment investment climate in the market to promote and increase the size of the deposits of banks leads to increased investment activities in all economic sectors and thus achieve a positive return for investors.
He said Alnasiri The monetary policy of leading efforts to achieve economic stability and stabilizing the exchange rate rates that the national economy will also increase the strength and effectiveness to meet the economic challenges of economic policy, and believes that the achievement of reserves of foreign exchange,
which currently stands at about $ 49 billion, stabilize the Iraqi dinar exchange rate against the dollar is one of the things necessary, pointing out that the foreign currency held by the central window had a positive role in maintaining an appropriate level of the exchange rate and install it.
He pointed out that the CBI has taken many steps to expand the list of available instruments of monetary policy and to cover the reserve required to include government deposits, and the granting of facilities on deposits maturing in a short period in order to allow banks to manage their liquidity more effectively.
He added that the relative stability of the rates of the exchange rate of tight monetary policy and the stability of the financial system, as well as reducing inflationary phenomenon and to control the levels of liquidity and management, and to encourage banks to move towards the market, of the most important tools that have been achieved in monetary policy from 2004 to 2006.
Keither: Well, I’m no banking expert but Monetary Reform sounds good to me as well. c’mon Iraq, just do it!
oasorcire33: Thats what i’ve been calling for for the longest time.
Jacktt: I’ll third that, I’m calling for it !!! (again!)
Pacificpalm: Just do it!!
Bellagrace: You can have a million people “calling for it” but until the GOI/CBI does it none of the calling make a difference. It seems everyone knows what need to be done but between parliament kicking many things down the road, the everyday liberation of Mosul, no one prosecuted for corruption, and constant loans to keep the politicians paid Iraq remains status quo
Payray: The completion of it, or what we seek to occur not being done at this point in time is all a part of a much larger picture… The importance of it as it concerns the times we live in cannot be stated… It is a physical occurrence, but will spiritually put things in motion in a most profound way… Which is why we all need the HELPER to guide, and discipline us so as to keep this in perspective…
Will we be wise stewards, or will wealth cause some of us to fall away, and be less reliant upon the Spirit of the Living God… So while we wait with great anticipation of this, and are prepared physically… What should be of utmost importance is whether or not we are spiritually prepared over the long term… For as scripture points out, “the LOVE of money is the root of all evil.”… Satan knows this, and is a master of exposing the weakness’s that all of us have… This is where the strength, and insight of God Almighty is so relevant in all of this… Blessings…
LStar: EXACTLY! Agree! And article 8 ~ international compliance & gross domestic product. Don’t quit our jobs yet. I’ll be back in January to see if next year’s budget got done. Burned out
Katz: That’s pretty much what the Doctor said as he snap the plastic gloves on…..
Noeta: So let it be said, so let it be done.
MrsClassy: LStar, I want to be the first to wish you a Very Merry Christmas, and Happy New Year! because Ill, be long gone !
MrsClassy: Very Nice, Poki
Blessed2017: I’m with the classy lady, I DON’T PLAN ON BEING IN THIS ROOM MUCH LONGER!!!! Carpe Cashing in (eventually)