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2-9-2015 *American Contractor

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2-9-2015 *American Contractor

Unread postby Vixen » Mon Feb 09, 2015 10:43 am

2-9-2015 *American Contractor ~The Iraqi Parliament is continuing with their economic conference meetings in Baghdad. What you are going to see is the private banking institutions and the Iraqi government working together to facilitate government projects. The Iraqi government will remove the restrictions it had imposed on the private banks. The Private Banking had restrictions due to lack of capital and unable to fund multi-million dollar projects. Since that time the banks have raised their capital to the Central Bank requirements and now, are able to compete with the two state banks for government projects. Not all private banks have met the capital requirements, and they will not be able to participate in this program. The Central Bank has announced that this is not the time to delete the zeros from the Iraq currency, stating that lack of security and economic stability in the country. The State-owned Rafidain Bank has announced the first ever smart card used by Iraqi citizens who are living abroad and are collecting pensions and or subsidies. The Central Bank reserves have decreased, and this is another reason the CBI has limited the sales of the dollar into the market. The CBI is trying to protect the reserves.
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