Central: we will ensure troubled banks .. and we have new measures to boost liquidity



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03/19/2015 (00:01 pm) – The number of readings: 303 – Issue (3316)

Central: we will ensure troubled banks .. and we have new measures to boost liquidity


BAGHDAD / Wael grace 

Reduce the Iraqi Central Bank of dealers concerns with private banks and concerns of non-payment of “deposits” owed by those banks, after news leaks about the reluctance of some private banks to give deposits to customers, while the “central” said he can ensure that money through the “reserve legal “available at each bank.

Central and revealed Iraqi series of actions may enhance liquidity, while the Finance Committee, said in the House of Representatives that it filed a complaint to the Ministry of Finance against some banks that suffer administrative Problems caused not give deposits to its clients, and revealed that she put in the budget of 2015 article calling for the legislation law to guarantee deposits. 
This comes as one of the private banks that face Problems in providing depositors’ money to have the “wrong policies of the State” in dealing with the economic crisis faced by the country, and non-payment amounts for contractors and ministries in addition to the failure to approve the 2014 budget director, led to the lack of liquidity on the part of banks and bounces said The applicant, while noting that he has, for example, debts 100 billion dinars on the size of the Ministry of Education have not paid yet. 
Central assurances 
The director of the release and cabinets in the Iraqi Central Bank Ihsan Yasiri “repeated complaint against some private banks lagging in their work, such as the economy actually the central bank under the tutelage, and Warka, which was lifted earlier custody but did not stand up by himself.” 
He adds Yasiri “long” that “North Bank also faces a problem with one of the top depositors, where the withdrawal of recently all his account of the bank, a huge amount, and today they are negotiating with him to resume trading again,” while noting that “the state institutions participated in the liquidity problem, because it is not paid to contractors and dealers with their dues, and they have money in the bank as well. “ 
Conversely Yasiri assured depositors at those banks that “the CBI to re-sponsor their money through legal reserve which each bank, which is launched in the real crises, and not because of the small numbers can be overcome.” Director of the Central Bank also revealed that the latter has a series of procedures for the award of the general budget, which is facing a deficit of billions of dollars, through the rationalization of import random, and release funds to the specialized banks such as industrial, agricultural, commercial and real estate, until the release of loans and advances. 
The Iraq Stock Exchange has confirmed that the Iraqi Central Bank to impose their guardianship on some private banks, led to “shake the confidence” of the citizens, and low cash liquidity and price traded. 
The central bank has put in (the fourth of June 2014), the economy Investment Bank, under the trusteeship, attributing this to the passion for the advancement of the bank and protect its customers. 
Ditto the Central Bank that the Warka Bank was placed under guardianship, 2012, to find work, before deciding filed in, (the sixth of February 2014). 
Banks under control 
Meanwhile, a Jabbar Abdul Khaliq, a member of the Finance Committee in the House of Representatives that “the banks are obliged to give deposits to clients”, while noting that some banks experiencing administrative problems, and we had to raise the complaint against her to the Ministry of Finance. 
He said Abdul Khaliq “long” that “civil control of banks by the CBI, where banks provide monthly budget to the Central, and the latter used his powers to stop the work of the bank if the disposal of his money out of contexts, and when finds that liquidity has less than deposits then will the announcement bankruptcy “. 
Deposit Insurance Act 
In the meantime, Masood said Rustam, the other member of the parliamentary finance committee, that “the Commission wanted to avoid the occurrence of future problems such as not to give the banks deposits, install a paragraph in the budget to enact a law on behalf of the (deposit guarantee).” 
He said Rustam “long” that “when the neighboring countries and the world at large experience in this subject, and has advanced laws to protect the Customer deposits with banks,” he said, adding that he had formed a sub-committee within the Commission to discuss the talk of the failure of some of the private banks to give deposits to customers with . 
In the meantime, the north bank manager Munther student said in an interview with the (long-Presse), “The liquidity crisis experienced by the public banks do not belong to his bank alone.” 
He adds demanded that “his bank, for example, has a debt to the Ministry of Education in the amount of 100 billion dinars, has not yet been received by the due to failure to approve the 2014 budget, and not to launch state appropriations in the current budget for the ministries and contractors who we gave them loans and facilities worth 433 billion dinars from last year, when asking them to repay the money they say the government, and others say the money with agents and dealers in the area fell to the organization “Daash.” 
Conversely north bank manager talked about the presence of two million displaced and displaced people in Iraq and said that they have deposits and savings accounts they retracted also because of the exceptional circumstances in which they went through. The owners sold the shares of the displaced Maldém of shares in banks, while the student said that his bank has 85 billion dinars in the Kurdistan region is facing problems due to known and recovered dispute with Baghdad over the budget of the financial crisis.

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Twitter- Steven Nabil

Live from Iraq video…

Well worth the watch 8min………

Published on Mar 18, 2015

Live from Iraq with the latest military videos and situation update
with Steven Nabil.

(The war is Iraq (as a Whole) vs. ISiS (as a Whole), it is not a war of Sects…..

-Steven Nabil

twitter @stevoiraq

Twitter- Brett McGurk

Over 30 countries met in today to support Iraq’s efforts to stabilize areas after . GEN Allen’s remarks:

PM Haider Al-Abadi (Facebook)


Mr. Prime Minister and Commander in Chief of the Armed Forces, Dr. Haider al-Abadi, received in his office today a number of security leaders. He stressed that the security and military operations in Salahuddin province, is going according to prepared her table. He said Dr. Haider al-Abadi: The Liberation of Tikrit became affordable and we keen on some of the things the spread of forces and the protection of civilians and combatants on the battlefield as well as the human side.

Zebari: Baghdad will pay part of the budget for Kurdistan within days


Khandan – Minister of Finance announced in the federal government, Hoshyar Zebari, said that the federal government will pay the installment of the budget for the Kurdistan region within days.
 

Zebari said in an interview with the agency (Reuters) said on Wednesday that the delay is due to the financial crisis and not to political factors, he said, adding that the two sides remain committed to the agreement. But he refused to disclose the size of the next installment. 

Zebari pointed out that the reasons for the lack of liquidity of the federal government mismanagement of public finances and the costs of the war with the management of the organization “Daash” terrorist along with the sharp drop in oil prices. 

Zebari said that the agreement between Baghdad and the Kurdistan region remains a key pillar of the relations between the two parties, saying, “It is a comprehensive agreement is of great importance for all. Both parties are committed to it and this is encouraging.” 

The finance minister said he understands the impatience of Government of the Territory, “because they did not receive their payments for some time.” 

He said that while the absence of trust and unrealistic expectations is still a problem, the Baghdad will be a “turning a new part of the payments to the Government of the Kurdistan region very soon .. within days.” 
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General / Iraqi foreign minister to discuss with the US president’s envoy files security and political

Baghdad, 27 May 1436, corresponding to March 18, 2015, SPA
Search Iraqi Foreign Minister Ibrahim al-Jaafari in Baghdad today with the US President’s envoy and coordinator of the international coalition to fight al / Daash / terrorist Gen. John Allen, the overall security and political events in Iraq and the region.
The two sides also discussed during the meeting, which was attended by Assistant US Secretary of State Brett Makourk, the American ambassador in Baghdad, Stuart Jones, the security progress of the joint Iraqi forces, military and humanitarian aid provided by the international coalition in Iraq in the face of the organization, “Daash” terrorist that.
A statement by the Iraqi Foreign Ministry issued today by Gen. Allen as saying that the international coalition countries will be held during the coming period, a number of meetings in various countries around the world in a message confirming the concerted efforts of humanitarian and stand with Iraq, as well as discuss the post-liberation Iraqi areas of terrorism.
// It’s over //
19:00 ITM

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Twitter- Brett McGurk-

Readout of our productive meetings last night in on next phases of the global campaign to defeat

Special Presidential Envoy General Allen and Deputy Special Presidential Envoy McGurk’s Visit To Turkey

March 18, 2015

Special Presidential Envoy General John Allen and Deputy Special Presidential Envoy Ambassador Brett McGurk had constructive talks with Under Secretary Feridun Sinirlioglu last night in Ankara on our shared efforts to degrade and defeat ISIL.  General Allen welcomed Turkey’s support in training vetted Syrian opposition, noted recent Turkish actions to increase border security and restrict the flow of foreign fighters, and thanked Turkey for its generosity in hosting Syrian and Iraqi refugees displaced by violence.

General Allen reiterated that the United States’ position on Asad has not changed.  The United States believes that he has lost all legitimacy to govern, that conditions in Syria under his rule have led to the rise of ISIL and other terrorist groups, and that we continue to seek a negotiated political‎ outcome to the Syrian conflict that does not in the end include Asad.

General Allen, Ambassador McGurk and Under Secretary Sinirlioglu discussed a number of ways in which the United States and Turkey can enhance our cooperation on counter-ISIL efforts and committed to further dialogue on those issues.