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Sunday, February 5, 2017

KTFA UPDATE, 5 FEB

KTFA:

Naphtali:  Wow!!!  Wowie.  This is the thing IMO.  There seems to me that Iraq has jumped and done all the items that were needed to be completed on the check sheet that was provided by Frank on the CC's last week.  I am thinking Iraq is ready to lift the rate.....

Then I go to the US of A  and we have President Trump being bold and confident to take the steps needed to move us in the right direction.

I have scratched my head trying to think of what is the needed "ingredient" to get us the LIFT off that would take us to the final stage.  IT appears to me that the corruption in the CBI was needing to be dealt with.

If I am correct in understanding  this was written in PAST tense.  So with my dinar goggles fixed on tightly.... I would say this has been taken care of to the degree that is necessary for us to see the final answer.

THIS IS ALL JUST MY OPINION.....  I think we are ready for this coming week to put a cherry on

Love to you all Family.... Blessings!  Naphtali
....

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Walkingstick:  Iraq is witnessing eclipse of the moon penumbra

testifies Iraq, next week 's eclipse of the moon semi - shade.

Said air forecaster, Atiya sincere in his page on the social networking site [Facebook], that the moon will penumbra lunar eclipse, on Saturday , February 11 In this event the moon will not disappear, but only appears dimmed and will be visible in Iraq, Africa and most parts of Europe and the West East Asia and South America and eastern Canada and the Atlantic Ocean. "

He pointed out that" cases of different types of lunar eclipse does not occur only when the moon is full. "

http://www.alliraqnews.com/modules/news/article.php?storyid=57932

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Apmcrx:  Progress for Reform and Development Institute will hold a panel discussion on monetary policy in the country 

Economy News / special.

Institute for the progress of the policies of development systems in Baghdad on Saturday, a seminar titled (monetary policy challenges) in the presence of the governor of the Iraqi Central Bank on the Keywords and representatives of the financial and banking sectors of the economy including the Association of private banks.

And accept the central bank governor at the beginning of the seminar functions and powers of the bank in the field of monetary policy, which is to maintain the Sarabv by selling the currency and achieving balance and Alastaqraralnkadi window, preventing money washed and financing of terrorism, smuggling crimes.

 Noting the need for the independence of the central bank, which vary from state to state depending on the fiscal policy of the country.

In answering to the intervention Alkhbayralaguetsada Bassem Jamil Antoine about the reasons for not granting loans to the industrial sector, similar to the commercial banking sector into financing large and medium enterprise initiative, Keywords that the central bank stressed launched this $ 5 trillion Danarda'm initiative and the financing of these projects despite the current financial crisis, noting that the stop happening now in this area is not due to the central bank, but the government apparatus.

For its part called on the Iraqi private banks association to involve members of the financial and economic parliamentary committees in seminars devoted to discuss the challenges faced by the private monetary policy, the banking sector in the country in general

He said the Association adviser Samir Alnasiri Speaking at a seminar hosted by the progress the Institute for Development Policy in the presence of Governor of the Central Bank on the Keywords under the challenges of monetary policy title on Saturday that the private banking sector faces a real big challenges, including the reluctance of a large segment of citizens deposit their savings in banks and withdraw another department Adaathm not for reasons of reputation risks  

He pointed out that banks Kasso faces other challenges of the acquisition Government banks to 86 percent of the total deposits, as well as the effects of the financial crisis and its impact on the size of deposits in banks

Alnasiri and touched on the problems and challenges of other private banks are still exposed, including the theft of the terrorist organization Daesh $ 9 trillion dinars from 126 of its branches in the provinces occupied,

He also pointed to the detention of more than 7 trillion dinars back to private banks in the Kurdistan region represent deposits citizens

http://economy-news.net/content.php?id=6635

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Samson:  Iran's Eximbank Opens Credit Lines for 3 Countries

 Sunday, February 05, 2017

The EDBI is holding negotiations with the Export-Import Bank of India, Eximbank of Russia and another unnamed Russian bank

The Export Development Bank of Iran will soon grant credit lines to banks in South Korea, Turkey and Iraq, announced the bank's chief executive.

"Two credit lines collectively worth €175 million will soon be approved for two South Korean and Turkish banks," Ali Salehabadi was quoted as saying by IBENA.

He added that €100 million have been considered for the Export-Import Bank of Korea or Korea Eximbank, while Turk Eximbank will receive €75 million.

The official stressed that the credit lines are not in US dollar and will be issued either "in euro or currencies of the target countries".

Salehabadi also announced that an $18 million credit line will be opened with an Iraqi bank, saying the credit line aims to expand Iran's exports to the neighboring Arab country and "if other Iraqi banks meet the capital adequacy ratio, we are ready to allocate more lines of credit to that country".

"This way, Iranian exporters can cash in their exports through this credit line and the Iraqi bank will repay it over a period of two years," Salehabadi said. "All the best exporters, namely 82% of top-notch exporters in the country, are our clients."

He further noted that EDBI is holding negotiations with Export-Import Bank of India, Eximbank of Russia and another unnamed Russian bank.

"We are now in the phase of doing the paperwork," he added.

According to the official, the bank has also signed memorandums of understanding with the Indonesia Eximbank and the Eximbank of Hungary.

Loan Performance

Salehabadi said EDBI's financing of small- and medium-sized enterprises (SME) has been one of the main focuses of the Central Bank of Iran during the current fiscal year.

"During the first 10 months of the year (March 20-Janaury 19), 198 of the ailing SMEs received 3.884 trillion rials ($100.4 million) in capital from the bank," he said.

During the same period, he added, the exim bank allocated 4 trillion rials ($104.6 million) to "various export-oriented manufacturing sectors with a 5% interest subsidy" following an agreement with the Ministry of Industries, Mining and Trade.

Based on the agreement, the bank will also dole out "loans worth 10 billion rials ($261,500) and 20 billion rials ($523,000) to these industries to meet their working capital needs"
.
As reported by Salehabadi, EDBI has allocated 38.433 trillion rials ($1 billion) worth of loans in the 10 months to Jan. 19, which registers a 10% rise in working capital loans.

"But loans allocated to certain schemes have declined because one of the policies approved in the shareholders' meeting of the bank was to increase working capital loans," he said.

"The remaining foreign exchange deposits of EDBI equal $1.320 billion, which marks a 150% increase when put up against the corresponding period of last year."

Salehabadi noted that the remaining rial deposits of the bank have reached 16.908 trillion rials ($442.1 million), marking a rise of 84%.

According to the official, the bank's letters of credit stood at 2.95 trillion rials ($77.14 million) by the end of the 10th month, registering another considerable rise of 587%.

In conclusion, Salehabadi put the total value of credit lines opened at EDBI at "about $500 million" and payment orders at $2.7 billion.

https://financialtribune.com/articles/economy-business-and-markets/58924/irans-eximbank-opens-credit-lines-for-3-countries

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