Iran to launch its own digital currency soon
The Governor of the Central Bank of Iran, Ali Salehabadi, announced today, Sunday, that “the national digital currency will be launched soon on a trial basis.”
During a meeting with the heads of missions of the Islamic Republic of Iran in neighboring countries, Ali Salehabadi said: “With regard to liberating our sources of hard currency, good measures have been taken, and the capabilities of the Central Bank to manage the foreign exchange market have doubled.”
Abadi added: “The Central Bank is working seriously to facilitate the securing of foreign exchange from small exporters, in cooperation with the competent authorities and through specific mechanisms link
Việt Nam Stock Exchange officially debuts
The Việt Nam Stock Exchange (VNX) was officially put into operation on Saturday morning, marking a new development for the domestic stock market.
The opening ceremony was held directly in Hà Nội and HCM City and held online at some places by the Ministry of Finance.
At the event, Deputy Prime Minister Lê Minh Khái handed the operations over to the Board of Directors of VNX.
According to the establishment decision, the exchange will operate under the parent-subsidiary model as per the rearrangement of the Hà Nội Stock Exchange (HNX) and the Hồ Chí Minh Stock Exchange (HoSE).
VNX has a charter capital of VNĐ3 trillion, with the headquarters located in Hà Nội, and is a limited company with 100 per cent capital owned by the State.
The exchange is also the parent company holding 100 per cent of capital in HNX and HoSE.
After VNX comes into operation, HNX will have the main task of organising and operating the derivatives, bond and other securities markets.
Meanwhile HoSE is responsible for organising and operating the stock market and other securities according to regulations.
The Deputy Prime Minister said that developing the stock market to create a medium- and long-term capital mobilisation channel for economic development was a consistent policy of the Party and State.
Khái also said attention needed to be paid to the modernisation of technology infrastructure to master and strengthen the application of science and technology.
Digital transformation to promote market development in combination with risk management, ensuring the safety of the stock market and meeting the growth demand of the country was also needed, he added.
Nguyễn Thành Long, chairman of the VNX’s Board of Directors, said that in the past, the size of the Vietnamese stock market was fragmented, indices were not consistent, and there was a lack of a general index that fully represented the whole market.
This has affected the position of the country stock market and the upgrade process. Therefore, the establishment and operation of VNX was necessary.
The consolidation and merger of exchanges is a reasonable trend and follows the international trend, Long added.
The restructuring and reorganisation of the exchanges will unify the stock market to ensure the market’s efficient, fair, open and transparent operation, heading to a unified Vietnamese stock market.
Since September, the exchange has completed seven regulations and one plan to restructure the corporate bond market, which is expected to be issued this December.
According to the plan, the system of regulations will be officially applied and implemented in 2022.
In the medium term, Long said that VNX had directed HoSE and HNX to develop a 3-year plan, while VNX will develop a medium- and longer-term development strategy. link
Source: Dinar Recaps
70 Exchange companies resume their work in Nineveh
Seventy exchange companies resumed their work in the city of Mosul, after stopping for more than seven years, and this was after the National Security Agency completed its fundamental audit.
The last session of the Council of Ministers, which was held in Mosul during the month of August, had voted to allow all exchange companies to return to work inside the city again.
The mayor of Mosul, Zuhair Al-Araji, told Al-Sabah: “The re-work of the banking companies will contribute to improving the city’s economy, and facilitate the work of shop owners and businessmen, as a contribution to efforts to restore economic life to what it was before the events of June 10, 2014.”
He added, “More than 70 exchange companies in the city had submitted their papers to re-license their work, and it was approved to resume their work after being audited by security,” pointing out “the great importance of maintaining the presence of two border outlets in it with Turkey and the Kurdistan Region. link
“Washington stops the automatic deductions from Iraq oil revenues to compensate Kuwait”
That is so big…they need to make the official announcement they’re Article VIII but look – Article quote: “Iraq should seek to get out of the provisions of Chapter VII of the UN Charter” …there’s only one banana peel left and Kuwait has just said that they have been compensated.
It’s time for you to catch up United Nations… Article: “The Central Bank of Iraq announces the suspension of the automatic deduction of Kuwait’s compensation” Whoa wait a minute. They owe [Kuwait] money don’t they? Not anymore… this is impressive because this is what’s definitely considered the final countdown.
“Economist on the 2022 budget: It will address the fiscal deficit and debts owed by Iraq“
“3% of Iraq’s oil imports will be released as a result of the zeroing of Kuwait’s debts, as well as the zeroing of the deficit during the past year, in addition to recycling part of the surplus for the next year,”
…ZEROING of Kuwait ‘s debts as well as ALL DEFECITS of 2021 AND the budget will have extra that they will roll over to the next year!
So you have to ask the question… Kuwait is paid…and ALL other deficits will be paid off this year! AND, they will have a surplus for next year?
WHAT IN THE WORLD IS IN THIS BUDGET? …SO, if they are “intentionally” leaking this information about the new budget and reflective of a new rate…this truly is…ANY DAY!!!
Central Bank Governor: Iraq has become an attractive arena for investments
The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mukhif, inaugurated today, Sunday, the activities of the Iraqi banking week in the Iraq pavilion at Expo Dubai 2020, in the presence of the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, the head of the Association of Iraqi Private Banks, Wadih Al-Handal, and a number of general managers in The Central Bank and the heads of the boards of banks
Makhif said, according to a statement by the Central Bank, that the launch of the Banking Week activities in the Iraq pavilion contributes greatly to the openness of the Iraqi banking sector to the Arab and international world, adding that the supervision of the Central Bank contributed greatly to the development of the banking sector
He added scary, that there are many Iraqi banks began to expand outside Iraq, and this is what made them obtain good ratings by the competent financial institutions, indicating that Iraq today has become an attractive arena for investments and requires an effective banking sector to keep pace with these investments
The Governor of the Central Bank pointed out that all indicators of the Iraqi banking sector are constantly escalating, and this is a good indicator for the outside world, of the need to open up prospects for cooperation with the Iraqi banking sector
In the other hand, the head of the Arab Monetary Fund, Abdul Rahman Al-Hamidi, praised the central bank’s policy that contributed to the development of the banking sector
Al-Hamidi said that the Governor of the Central Bank of Iraq, Chairman of the Board of Governors of the Arab Monetary Fund, Mustafa Ghaleb, is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks
For his part, the head of the Iraqi Private Banks Association, Wadih Al-Handal, said that the event of the Iraqi Banks Week in the Dubai Expo represents an important sign, and a very strong start. To revitalize banking relations with the outside world, noting that the banking sector today represents a major point in the development of the country’s economy
Al-Handal noted that the participation of banks and electronic payment companies in the Banking Week activities represents a strong and clear message to the world, and that Iraq today is witnessing an openness carried out by the private sector, and the state must protect it and facilitate its tasks
It is noteworthy that the Iraqi Banks Week at Expo 2020 Dubai includes many banking activities, informing the public about the banking services provided by banks, in addition to holding bilateral meetings between Iraqi banks and banks operating in the United Arab Emirates link
HAPPY SUNDAY. IS THIS THE VERY LAST WEEKEND HERE?????? THE VERY LAST BROKE WEEKEND EVER?????
We are about to enter a new life. Let us give thanks to all of those who started this journey with us, who are now on the other side. Let us make life better in honor of them.
Source: Dinar Recaps
Iraqi banks evoke the Emirati experience
More than 40 Iraqi banks recalled the Emirati experience in the field of banking, by launching a special week at the Republic of Iraq pavilion at Expo 2020 Dubai, in the presence of a high-level official Iraqi and Arab, and with the participation of a group of specialists and those concerned with banking affairs
Prior to the launch of the Iraqi Banking Week, His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence, Commissioner-General of Expo 2020 Dubai, met with Mustafa Ghaleb Mukhaif, Governor of the Central Bank of Iraq, where the importance of cooperation between the two countries was emphasized, especially in the field of banking relations
Those in charge of a group of Iraqi banks are studying many axes and perceptions aimed at revitalizing, developing and developing the Iraqi banking work, especially with regard to the technical aspects represented in the work of what is known as “correspondent banks”, in light of invoking the best model and closest to the Iraqi reality, which is the experience The UAE is ahead of its counterparts in the region, and works to open new horizons of cooperation and mutual relations, and conclude agreements and conclude solid partnerships
The Iraqi Banks Week at Expo 2020 Dubai includes many banking activities, including informing the public about the banking services provided by Iraqi banks, and holding bilateral meetings between Iraqi banks and their counterparts in the UAE with the aim of exchanging experiences, and getting acquainted with the latest developments in banking work in the world
Mustafa Ghaleb Mokhief, Governor of the Central Bank of Iraq and Chairman of the Board of Governors of the Arab Monetary Fund, opened the activities of the Iraqi Banking Week in the Iraq Pavilion at the Dubai Expo, in the presence of Abdul Rahman Al-Hamidi, President of the Arab Monetary Fund, Wadih Nuri Handal, President of the Association of Iraqi Banks, and a number of managers The two years in the Central Bank, and the heads of a number of Iraqi bank boards.
Mustafa Ghaleb indicated that the launch of the Banking Week activities in the Iraq pavilion at the major global event contributes greatly to the openness of the Iraqi banking sector, Arab and international, noting that the supervision of the Central Bank has contributed greatly to the development of the banking sector in Iraq, stressing that There are many Iraqi banks, which began to expand their activities outside Iraq, which earned them new classifications by the specialized financial institutions
Mustafa pointed out that Iraq has become an attractive arena for diversified investments, which requires the existence of an effective banking sector to keep pace with those investments, indicating that all indicators of the Iraqi banking sector are on the rise. Iraqi banking sector
For his part, Abdul Rahman Al-Hamidi, head of the Arab Monetary Fund, praised the approach of the Central Bank of Iraq in how to work on developing the banking sector, pointing out that the Central Bank of Iraq is now working to ensure the openness of the Iraqi banking sector to Arab and foreign banks, praising the measures it takes The Central Bank of Iraq. link
Source: Dinar Recaps
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