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Wednesday, July 19, 2017

KTFA UPDATE, 19 JULY

CandyTLC:  WOW! so much going on. Frank's CC I don't know how he just keep bring us so much info real info not that fairytale stuff 4 years ago I used to spend my time in..We are so blessed, and how about all those posting we've been getting. WS, Samson, Don 961, Mc D, Rocky, Aggie, And then there's Peggy oh my such talent..Yes KTFA family we are truly blessed, and we still have Weds. CC

Frank26:   Hmmm WEDNESDAY CC You say? ......................... We give info unknown to many with each CC ........... Hmmm 

Well Know this ............... WS (Walkingstick)  and i talked long yesterday ......... Twice. 

That is rare.

We suggested in the last 2 CC's that The CBI would start talking NOW ........... In the last week Their MR SPEED of LIGHT has become even Faster.

Allowing WS to ................. Talk to me.

Hmmm.
....
Blessed we are with our KTFA TEAMS?

Indeed .......... Amen.

Blessed You will be with our WEDNESDAY CC tonight?

Hmmm?

Come and listen .............. Then tell me if ................. You were.

WS ................... Wants me to give You .................... More.

C U on Your W CC  ....... No ............... It would not be wise to miss tonight's WEDNESDAY CC.

IMO ............ It would be Prudently Sagacious ......... Aloha oi \m/ 

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DLR:  COMING SOON.......SOOM.......
Waking up every morning knowing you're financially free.... what a feeling.

Frank26:  Well alright alright then .................. NOW we talking ...

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Kyrie79:  Frank was right!! Alak sure likes showing his face around now!!

What is the point of the banks having international standards?  Perhaps the technical preparations are finishing up now….(wink)

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Walkingstick:  WEDNESDAY, 19 JULY, 2017 | 16:26 WIB

Minister Darmin: Rupiah Redenomination Will Not Take Long

TEMPO.COJakarta - Coordinating Minister for Economic Affairs Darmin Nasution said that he fully supports the deliberation of the draft bill on rupiah redenomination. According to him, the implementation of the rupiah redenomination would not be lengthy.

“It shouldn’t take long,” Darmin said at the Senayan Parliamentary Complex in Jakarta today, July 19.

Earlier, Bank Indonesia (BI) Governor Agus Martowardojo said it would take seven years to implement the rupiah redenomination policy. However, Darmin said that the implementation can be realized sooner.

This year, the central bank will pitch the draft bill on rupiah redenomination to the House of Representatives. However, Agus said that he will consult with President Joko Widodo or Jokowi before proposing the draft bill.

“We will meet the President, the Law and Human Rights Ministry, and the Finance Ministry so that they can discuss the draft bill with the House,” Agus said in Jakarta yesterday.

He expects the government and the House will deliberate the draft bill consisting of 18 articles this year. “The preparation will take two years, the period of 2020-2024 will be the transition period and there will be a phase out stage,” Agus said.

Bank Indonesia yesterday held a focus group discussion with the House of Representatives’ commission XI overseeing financial affairs to discuss the draft bill on rupiah redenomination. Agus revealed that the meeting was attended by all House's factions.

Finance Minister Sri Mulyani has expressed her agreement to include the draft bill in the National Legislation Program (Prolegnas) this year. “The State Budget has been considered being credible and realistic, therefore we could manage to have an investment grade,” Sri Mulyani said.

https://en.tempo.co/read/news/2017/07/19/056892701/Minister-Darmin-Rupiah-Redenomination-Will-Not-Take-Long

TUESDAY, 18 JULY, 2017 | 19:04 WIB

Bank Indonesia Governor to Meet Jokowi over Rupiah Redenomination

https://en.tempo.co/read/news/2017/07/18/056892447/Bank-Indonesia-Governor-to-Meet-Jokowi-over-Rupiah-Redenomination

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TomBlack10:  I was just thinking ( which is painful and tends to get me in trouble). If i recall correctly, on Monday's CC Frank said there is another country that will RV at the same time as Iraq. He wouldn't say who. Now, Walkingstick shows an article about Indonesia's currency.  Hmmmmm.......just thinking.

Pattycakes77:  IMO i do not think they will go at the same time. Maybe days will separate the two but close enough.

Mike4339:  :  Since KTFA does not study any other currency, other than Dinar, this must somehow be related to Dinar. Maybe Indonesia and Iraq plan to do business soon...I believe I saw something to about that a while back...now, just to make the connection.

Frank26:  BRAVO
IObey777:  THIS IS H U G E!! CONFORMATION THAT THIS HAS TO BE DONE THIS MONTH!!

Apmcrx:  Deputy warns of the suspension of support for the Iraqi Monetary Fund because of the supplementary budget

Baghdad / Follow-up Zawra:

A member of the Finance Committee MP Masoud Haidar on the existence of a binding condition for the government to pass the supplementary budget before the end of this month and include the amounts of investment expenditures for the reconstruction of basic projects in the liberated areas.

He pointed out that the budget in the event that it is not completed by the specified period, the IMF will cut its economic support for Iraq.

Haider said that "the Finance Committee represented by three deputies discussed with the government the supplementary budget, was put the proportion of 3% deducted from the salaries of employees to support the popular mobilization and displaced," noting that "the government's view was that the proportion represented existing revenues and that cancellation will be all the budget."

http://alzawraapaper.com

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Samson:  Iraqi banks are looking with the US Treasury to open relations with foreign banks
 19th July, 2017


Examined the government and private and foreign banks operating in Iraq with US Treasury officials in the Iraqi private banks association headquarters open relations with foreign banks, particularly US banks.

 The Iraqi Association of private banks in a press release received "Economy News" copy of it, "we organized a panel discussion in the presence of a representative of the Central Bank Mazen morning and the representative of the Union of Arab Banks Khawla al-Asadi and a member of the Committee on Economy Parliamentary Mahdi Al-Hafiz and managers of private and government banks and heads of branches of Arab and foreign banks operating in Iraq with the Minister Plenipotentiary for economic Affairs at the US embassy Larry Mimut and the representative of the US Treasury in Iraq. "

She added that "dialogue session aimed at opening a new page of relations with foreign and specifically with US banks banks", indicating that "the committee formed under the chairmanship of the Central Bank of Mazen morning, and it was agreed to form a delegation comprising government and private banks to visit the United States and establish strong relationships with correspondent banks US specifically. "

She noted that "the Arab American banking conference will be held in New York on the sixteenth of the month of October next and Iraq will participate with a delegation senior banker," pointing out that "there is great confidence got between the Iraqi Association of private banks and the US Treasury."

On the other hand, Minister Plenipotentiary for Economic Affairs at the US embassy Larry Mimut said, during the meeting, "seen on the activities carried out by the Iraqi Association of private banks, including charity and human capacity development working in the banking sector through training, specifically in the fight against money laundering and terrorism financing file."

He pointed out that "the banking sector and one of the main reasons for the development of the Iraqi economy, and we will work with those who support it to develop and encourage Iraqi banks to open relations with the US private banks association."

He called Mimut private banks to "the need to find new ways to lend to small businesses because it contributes to the development of the relationship between banks and foreign companies that will lead to the development of relations with foreign banks," pointing out that "the US government can not impose anything on the private banks."

Meanwhile, the Central Bank representative at the meeting, Mazen morning, that "Iraq is committed to international standards, specifically in the areas of anti-money laundering and risk management, insurance and international accounting and that there is tightening from the central bank on the necessity of operating banks in Iraq to comply with these standards, especially after the issuance of classification of banks said" noting that "Iraq draws during the current phase of opening relations with the Arab and foreign banks, and we started to form a committee in this matter."

On the other hand, he said the representative of the Union of Arab Banks, Chairman of the Rafidain Bank, Khawla al-Asadi, said that "the new Iraq classification is located in the follow-up area after leaving the gray area," noting that "Iraq's progress is very large in the fight against money laundering."

She stressed that "Arab financial reports indicate Iraq for advanced classification of the Arab world, and we are working to develop the relationship with foreign correspondent banks."

In turn, the Chairman of the International Development Bank Management, Ziad Khalaf, in an intervention during the meeting, said that "there are many Iraqi private banks are ready and in compliance with international standards and is fully prepared to open accounts with banks and foreign correspondent because of its cadre of outstanding policies and procedures are subject to global standards In addition to the integrated services. "

While, questioned Chairman of the South Bank of the Ali al-Zaidi, is the problem of opening bank accounts in international banks lies Iraqi banks or foreign banks, and specifically the US.

In the meantime, the Bank of Baghdad director of the Commissioner, on behalf of Aldahi spoke, "The government banks acquires banking business in Iraq because of government policies supported by the banking sector account

http://economy-news.net/content.php?id=8315

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