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Saturday, June 2, 2018


We’re getting down there our records show the CBI only has about 13 days to meet IMF compliance. Keep in mind though, we don’t expect a CBI to move to Article VIII until the government is formed. Also keep in mind that the IMF needs to have their Article IV Consultation with Iraq, I tend to think they’ll happen at the same time as the transition to Article VIII.
The Central Bank announces that all banks will be required to replace the damaged currency and threaten the violators The Central Bank of Iraq, on Thursday, the need to commit all banks to replace the damaged currency without commissions. The bank said in a statement received by Mawazine News that “the banks approved all compliance obligation issued by the Department of Issuance and Safes in 2017, which includes replacing the damaged currency without the payment of commissions in return for that.” He added that “non-compliance will be borne by the bank violating all the legal consequences in accordance with Article 63 of the Central Bank Law No. 56 of 2004 amending.” He called on the banks to “provide him with the disclosure of the damaged amounts replaced by them and received from the public until 31 May,” stressing that the answer “must be received within 3 days of the date of writing.”

HDBank promotion offers deposit interest rate of 7.6%
HDBank has relaunched its Bach nien phat tai (100 years of prosperity) programme offering extra interest to several categories of depositors.
The bank will offer extra interest of up to 0.7 percentage points to customers depositing for six months or 13 months and having a minimum balance of VNĐ500,000 (US$22) in their current account.

Besides, the interest rate will also be commensurate with depositors’ ages and deposit amounts.
The maximum interest a depositor can hope to get under the programme is 7.6 per cent.
This is the third installment of the programme, which will run until the end of June.
After two earlier instalments of the promotion this year, HDB had more than 8,600 existing customers renewing their saving accounts and attracted around 20,900 first-time depositors. — VNS

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