Global central banks address ITC’s technology challenge

 

The BIS headquarters (to the right of the picture) is located in Paz. “Reuters”
 Banks

Economy News Baghdad

The Bank for International Settlements (BIS) agreed on Sunday to set up an innovation center in which central banks will work more closely together with rapid changes in financial technology and companies such as Facebook towards financial action.

The objective of the innovation center, which will have headquarters in Basel, Hong Kong and Singapore, is to improve the performance of the global financial system and to identify and develop technology visions that affect the work of central banks, the Bank of Settlements said.

The bank’s statement did not mention Facebook’s plan to enter payments and launch its encrypted currency Libra, but the move by the social networking giant helped crystallize a view among central bank officials of the need for coordinated regulatory responses to financial technology trends.

“The IT revolution knows no borders and therefore its effects are multiplied in multiple locations simultaneously,” Jens Faidmann, chairman of the Bank for International Settlements, said in a statement after the decision to establish the center at a meeting of the bank’s board.

He added that the center will help central banks “identify relevant general trends in technology, support these developments when consistent with their mandate, and update regulatory requirements commensurate with the goal of safeguarding financial stability.”

The Bank for International Settlements (BIS), an umbrella of the world’s central banks, has called on politicians to examine the penetration of the technology giant into the financial sector closely, raising issues such as data privacy, competition, markets and banking.

Details of the new center are still limited, and the BIS said it could not give details on levels of investment or employment.

The Swiss National Bank, the Hong Kong Monetary Authority and the Singapore Monetary Authority have shown their support for the initiative.

Swiss National Bank President Thomas Jordaan said the central bank would boost its efforts to examine new financial technologies.

“The Swiss National Bank (SNB) is already closely following technological innovation in the financial field and is working diligently within the central bank community to identify early and assess relevant developments,” Jordan said.

http://economy-news.net/content.php?id=17082

Sumer Bank: The four quality checks will strengthen the bank’s status internally and externally

 

The Managing Director of Sumer Fouad Hamza Bank interacts with the Bank’s staff and before them quality certificates. “Economy News”
 Banks

Economy News Baghdad

The Executive Director of Sumer Commercial Bank Fouad Hamza said on Monday that the bank’s acquisition of four international certificates in the field of quality will enhance its position locally and internationally.

“The first certificate is ISO 9001 for 2015 related to quality management and ISO 27001 for 2013 related to the management of information security within the bank,” he said in an interview with Al-Iktissad News   .

He pointed out that “the fourth certificate is ISO 20000 for the year 2011 is related to the standards management of the information technology system and the fourth is ISO 22301 for 2012 and relates to the continuity of the business system within the bank.”

The director confirmed that the certificate of  ISO 22301  is the most important among its predecessors and “our bank race to obtain it,” noting that “the Bank of Sumer met all the requirements of the banking business with the Central Bank of Iraq during 20172018.

He said the bank had signed 16 contracts with Jordanian and Lebanese companies in the fields of banking training and infrastructure.

He said that the activities of the Association of Iraqi private banks “excellent” especially with regard to the training of banking cadres and find solutions to the problems facing banks, revealing the participation of the Bank of Sumer, “78 courses and workshops and a seminar organized by the Association of Iraqi private banks during the past year”

http://economy-news.net/content.php?id=17094

Sadr ordered the dissolution of the peace brigades and their annexation to the official military

 

(Independent) .. In the first response to the Diwani order issued by Prime Minister Adel Abdul-Mahdi, ordered the leader of the Sadrist movement Moqtada al-Sadr, on Monday, the dissolution of the peace Brigades operating under the current trend.

“The Prime Minister’s statement regarding the popular mobilization is important and the first step is correct towards building a strong state that does not shake the wind from here and there,” Sadr said in a tweet published on Twitter. “But I am concerned that it will not be implemented Correct and fair “.

He added that “what is important to me here, too, is that the Peace Brigades, which I ordered to establish earlier, are the first initiative for this and immediately … The brother Abu Yasser must immediately implement this by closing down the headquarters, canceling the name and other orders, and returning all the dear brothers, .

“I do not want them to be removed from the holy places as much as possible,” he said.

Al-Sadr thanked “the Prime Minister for this decision and urged him to move forward on its implementation to preserve the prestige of Iraq and its army and police and security forces.”

“We will continue to be ready if Iraq and its people are in danger, God forbid, as you have entrusted us and entrusted the Mujahideen brothers against occupation and terrorism,” he said.

Sadr’s announcement is the first response to the Diwani order issued by Prime Minister Adel Abdul Mahdi, which aims to reorganize the popular mobilization factions according to military formulas and to confirm their association with the commander-in-chief of the armed forces and to criminalize any armed faction outside the official military formations.

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Sadr welcomes the decision of the Iraqi Prime Minister on the closure of the headquarters of the popular crowd

2 hours ago | Books: Agencies

An archival portrait of Iraqi cleric Moqtada al-Sadr. Archive photo

The leader of the Iraqi religious movement, Moqtada al-Sadr, hailed the decision by Iraqi Prime Minister Adel Abdul Mahdi to include all the “popular mobilization” groups that were formed to fight the “da’ash” organization of the Iraqi armed forces. He also announced that he would break his ties with the ” Systemic security.

“The Prime Minister’s statement regarding popular mobilization is important and a first step towards building a strong state that is not shaken by the wind here and there, but I am concerned that it has not been properly applied,” Sadr said in a statement on Monday.

Al-Sadr added: “What matters to me here too is that the Saraya Islam, which I ordered to set up earlier, is the first initiative for this and immediately, and Abweiser should immediately implement it by closing the headquarters and canceling the name and other orders.”

He continued Sadr: «Hence announced the disengagement from me a complete seclusion not Schop it, if it was attached to the official security authorities».

The Iraqi Prime Minister, Adel Abdul-Mahdi, a decision to include all formations of popular mobilization to the Iraqi armed forces, and the closure of their headquarters, both inside the cities or outside, and cut any link with any political organization.

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The House of Representatives holds its meeting tomorrow by voting on the special grades

Editorial Date: 2019/7/1 23:15

(Baghdad: Al Furat News) The House of Representatives, announced its agenda for Tuesday’s session, which carries the vote on the special grades and read and discuss a number of other laws.

The following is the agenda of the Council announced for tomorrow:

http://alforatnews.com/modules/news/article.php?storyid=202416

Abdul Mahdi issues a decree on the popular crowd .. (Documents)

 Policy 2019/07/01 19:47  1403  Editor: bh

Baghdad today _ Baghdad

The Prime Minister of the Armed Forces, General Adel Abdul Mahdi, issued a decree on Monday on the popular mobilization, including several directives on the names of factions and headquarters and the association of fighters, while promising to prosecute violators.

“All the popular mobilization forces are an integral part of the armed forces, and all that applies to the armed forces except a special text is addressed,” Abdul Mahdi said in a Diwani order bearing the number 237. In the second paragraph, “to give up all the names used by the Popular Struggle factions in the heroic battles to eliminate a terrorist entity and to be replaced by military names (brigade, brigade, regiment, etc.), including clan or other formations, Military ranks of the armed forces as well. ”

The commander-in-chief of the armed forces ordered that “these units cut off individuals and formations of any political or administrative association referred to in paragraph (2).” The factions that do not join the armed forces can become political organizations subject to the law of political parties and laws , And prevents the carrying of weapons except the leave and the requirements of the protection of its civilian headquarters and leaders, as is the case of the rest of the political organizations.

The Prime Minister stressed that “the concentration camps of the popular mobilization forces should be defined exactly as they are for the rest of the armed forces,” directing that “the battlefields of the crowd must be subject to the battle regime adopted in accordance with the policies of the armed forces.”

Adel Abdul Mahdi also ordered “the closure of all the headquarters of the faction in the popular crowd, both in cities or outside, in addition to preventing the presence of any faction working secretly or publicly outside these instructions, and is out of the law and prosecute it,” also directed to “close All economic offices or controls or presence or interests established outside the new framework for the work and formations of popular mobilization as an institution is part of the armed forces.

“The date of July 31 deadline for the final arrangements for the completion of work under these controls,” Abdul Mahdi said, adding that “orders will be issued later to the structure of the People’s Assembly and its formations.”

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The Secretariat of the Council of Ministers issued directives regarding the positions of the proxy

 Policy 2019/07/01 17:26  825 Editor: bh

Baghdad today _ Baghdad

The General Secretariat of the Council of Ministers on Monday instructed the officials who run their office to continue their duties after extending the period of time to resolve this file to 24 October 2019.

The Secretary-General of the Council of Ministers Hamid al-Ghazi said in an official document issued to all the ministries and governors and provincial councils, and obtained (Baghdad today) a copy of them, “Based on the requirements of public interest and to ensure the functioning of public facilities in government institutions on a regular and steady, Which are administered by agency officials with their naturally continuing business tasks. ”

“The extension of the period of time to resolve the issue of management of positions by proxy to the date of October 24, 2019.”

The Iraqi Council of Representatives, has finished, on Sunday (June 30, 2019), the first reading of the amendment of the budget law.

The three presidencies decided on Saturday (June 29, 2019) to postpone the resolution of the file of the State Administration by the end of next October “for the selection of personalities to run the state institutions, and end the file of the administration by proxy, and support the government in choosing the best in accordance with the principle of efficiency and integrity and achieve national balance Away from quotas. ”

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