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Friday, July 6, 2018

"Financial Sustainability" - Thurs. PM KTFA Thoughts/News


Don961 » July 5th, 2018

Central Bank signs MoU to develop smart technologies

05/7/2018 12:00 am Baghdad / Al-Sabah

The Central Bank of Iraq (CBI) signed a memorandum of understanding (MoU) with Yunin Bi International International on Wednesday to develop smart payment technologies and electronic payment services in Iraq. "The company is one of the largest companies in China and most of the Asian countries in this field, in addition to being the third largest international company to issue and collect cards," said a statement issued by the Central Bank.

This agreement came in the light of the strategy of the Central Bank To develop electronic payment services and open the horizons of work and competition for international companies to participate actively in the implementation of current and future plans for the electronic payment sector, as well as the development of this sector and the transfer of expertise owned by this company to the Iraqi market, thus facilitating the payment and transfer of funds smoothly and smoothly E-cards saliva.

​The company intends to enhance the collection of card purchase payments through traders using the latest technology developed over the years in mature and promising markets," the statement said. "Supporting the international companies and organizing their work in the country will contribute directly to providing the best services and providing effective competition in this field," the statement said.

This is the third memorandum signed by the bank in 2018 with global card companies as part of its expansion plans. In the use of high technology to promote the work of cards and the development of payment systems in accordance with the best international practice


im not sure about the name yunnin b?could be a translation issue, but Union Pay is the largest payment company in china,every banking card issued by every bank has the logo on it,its network covered all over china and some south and east asian countries ,and could be even broader than that.not sure if its the third largest international payment company after visa and mastercard,but very well could be.now its network had reached to the west asian countries,like iraq,its such good news iraq is on the verge of going international.000071medium_gif

rich4hyip » July 5th, 2018

Most likely Union Pay my friend ... You should know .. You are there 000043medium_gif

IOBEY777 » July 5th, 2018

IMO...this is another WOW article!!! IMO..not"on the verge of International"..but they ARE International..(just haven't outright told us ..YET) But these articles are saying it for us..oh..and I Wonder..just WHEN this was actually done? IMO..it wasn't yesterday! Yes..this is HUGE because look again at which countries it is tying Iraq to...can we say Asian? Yep! Going/gone International!! IMO!! fireworkes_gif now where is that 2nd article?????

Sunkissed » July 5th, 2018

This could be significant -- because this company's headquarters are based in the USA!!! And... although the article says they are quite large, their web site says "in spite of our size.."

BI WORLDWIDE's origins are both humble and ingenious. (We like to think that describes us pretty well.) It started with founder Guy Schoenecker discovering innovative ways to provide consumer loyalty programs and incentives to various industries. That idea caught on, big time. It grew into what is now a multinational company serving Global 2000 corporations in over 140 countries in more than 20 languages.

In spite of our size, we haven't lost sight of our core purpose: To deliver measurable results that truly have a positive impact for our clients and their businesses.

A global company

Our U.S. headquarters is located in Minneapolis, Minnesota. We have more than 25 sales offices throughout the U.S. and headquarters around the world in Australia, Brazil, Canada, China, India, Latin America, Singapore and the United Kingdom. Our worldwide network of offices and partnerships not only give us unmatched local resources but also enable us to deliver culturally relevant programs and solutions no matter where our customers and their employees are located. That's priceless.


IOBEY777 » July 5th, 2018

One more thing before I go...Let's see now..this morning we have seen evidence of them having "talks" with and signing an MOU with a company in China...with Russian delegates..with Japanese delegates.. (did I miss any?)making deals? seems they have been Very Busy in the INTERNATIONAL SCENE AND MARKETS!! IMO!!!

I really think it's time for them to Finally show us that "elusive" 2nd article which will bring it ALL together and truly "Out In the Open" for all to see just how well received they are/have become in the INTERNATIONAL Market place!! YEP!!It's time!!! IMO!!

Rommy » July 5th, 2018

IOBEY777, In my opinion - the 2nd article is the light switch that will turn on all the lights. And it will be quick as a switch!

Don961 » July 5th, 2018

Honoring the Governor of the Central Bank of Iraq


This honor is in fact a tribute to the Central Bank of Iraq and cadres, whose role was distinctive in support of the national economy in the near the difficult circumstances experienced by Iraq during the past three years.

The support provided by the Central Bank to the national economy during the economic and security shocks suffered by Iraq due to the economic and financial crisis and the war on terrorism is a bright spot and a success experience in a country that is going through harsh conditions and a historic phase which is the most difficult to face the economic and security challenges that no country in the world has experienced.

Sunkissed » July 5th, 2018

Don961, This article looks like they are telling everyone that Iraq HAS DONE FABULOUSLY!

Their 2015-2017 goals were achieved

MOST IMPRESSIVE was that they maintained 2% inflation

Foreign Reserves are considered high adequacy level of $52 BILLION

Overcame security challenges

Achieved Monetary STABILITY


Developed regulations for money laundering

Management of Credit risk

​Electronic Banking (for the citizens also!! with cell phones, etc)

Paying salaries --- INCLUDING those without bank accounts!

Restored confidence in the Banking System by Investors, other Central Banks, the citizens - WOW!

Are now operating in accordance with International Standards

Now have a Deposit Guarantee company on board!

They even told us that this was all achieved in a 3 year plan

They also give recognition of all the awards Alaq received for these enormous achievements!

Complied with WB, IMF, FATF!!

And now for the NEW WORD for Iraq's Financial future: Financial Sustainability!!

Meaning.. (imo) they can continue for many many years without fear of the future -- they have ARRIVED to the place they need to be to continue on and build a New Iraq!

This article read like a Resume! Awesome!

Source: Dinar Recaps



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