Samson » March 24th, 2016
Russia devises own SWIFT system
Fri Mar 24, 2017 8:39AM
Russia says it has devised an alternative to a global electronic money transfer mechanism which the United States has shown it would readily use to disrupt overseas financial transactions of countries which it sanctions for political disputes.
Elvira Nabiullina, the governor of the Central Bank of Russia, was quoted by media as saying that Moscow was ready to use a substitute should the Society for Worldwide Interbank Financial Telecommunication (SWIFT) stopped processing cross-border money transfers for the country’s banks.
"There were threats that we can be disconnected from SWIFT. We have finished working on our own payment system, and if something happens, all operations in SWIFT format will work inside the country.
We have created an alternative," Nabiullina was quoted by the website of state television network Russia Today as saying at a recent meeting with President Vladimir Putin.
The announcement followed earlier reports by the media in Moscow that 330 Russian banks had been connected to the SWIFT alternative, the system for transfer of financial messages (SPFS).
RT.com in its report highlighted the importance of SPFS specifically given that in 2014 and 2015, when the crisis in relations between Russia and the West were at their peak over Crimea and eastern Ukraine, some Western politicians urged disconnecting Russia from SWIFT.
The report further quoted a statement by the Central Bank of Russia as saying that the SPFS had been established “as an alternative channel for interbank cooperation with the aim of ensuring the guaranteed and uninterrupted provision of services for the transmission of electronic messages on financial transactions.”
Elsewhere in her remarks, Nabiullina further emphasized that a similar replacement mechanism for American credit cards such as Visa and MasterCard had also been devised.
http://www.presstv.ir/Detail/2017/03/24/515436/Russia-devises-own-SWIFT-system--
Walkingstick » March 24th, 2016
Fri Mar 24, 2017 8:39AM
Russia says it has devised an alternative to a global electronic money transfer mechanism which the United States has shown it would readily use to disrupt overseas financial transactions of countries which it sanctions for political disputes.
Elvira Nabiullina, the governor of the Central Bank of Russia, was quoted by media as saying that Moscow was ready to use a substitute should the Society for Worldwide Interbank Financial Telecommunication (SWIFT) stopped processing cross-border money transfers for the country’s banks.
"There were threats that we can be disconnected from SWIFT. We have finished working on our own payment system, and if something happens, all operations in SWIFT format will work inside the country.
We have created an alternative," Nabiullina was quoted by the website of state television network Russia Today as saying at a recent meeting with President Vladimir Putin.
The announcement followed earlier reports by the media in Moscow that 330 Russian banks had been connected to the SWIFT alternative, the system for transfer of financial messages (SPFS).
RT.com in its report highlighted the importance of SPFS specifically given that in 2014 and 2015, when the crisis in relations between Russia and the West were at their peak over Crimea and eastern Ukraine, some Western politicians urged disconnecting Russia from SWIFT.
The report further quoted a statement by the Central Bank of Russia as saying that the SPFS had been established “as an alternative channel for interbank cooperation with the aim of ensuring the guaranteed and uninterrupted provision of services for the transmission of electronic messages on financial transactions.”
Elsewhere in her remarks, Nabiullina further emphasized that a similar replacement mechanism for American credit cards such as Visa and MasterCard had also been devised.
http://www.presstv.ir/Detail/2017/03/24/515436/Russia-devises-own-SWIFT-system--
Walkingstick » March 24th, 2016
Iraqi government announces exchange more than a billion dollars to contractors soon
Last updated 03/24/2017
Announced Planning Minister Salman Jumaili, Wednesday, for the completion of the audit (1855) Treatment of $ 1 trillion and 364 trillion dinars will be disbursed to contractors soon.
Jumaily said in a statement received "Economy News" that the total dues Contractors that have been audited by the Office of Financial Supervision reached one trillion and 364 billion Iraqi dinars, up to the sixteenth of March this month resulting from the audit (1855) treatment were identical.
He Jumaili, that the total amounts owed definitively reached about 4 trillion and (738) billion dinars .. Indicating that these benefits have been reached after coordination with the ministries and departments not associated with the Ministry and the provinces through a series of workshops held by the Ministry of Planning those actors with the participation of the Ministry of Finance and the Office of financial supervision during which they discuss and show the challenges and problems that were facing the disbursement of entitlements process.
He Jumaili, that the number of transactions submitted to the Office of Financial Supervision up to the middle of the current month of March amounted to (7) thousand and (23) Amaalmlh .. He pointed out that the ministry has asked all stakeholders to give their viewpoint on the observations raised about these transactions in order to reach the final results of the audit and then disbursed to eligible contractors .. blaming the relevant authorities for the delay in the event of failure to answer those important notes.
He said the corresponding transactions relative to the total transactions made was about (26.41%) has been to the provinces the largest share of the total transactions made by amounting to more than 1,400 treatment in the share of ministries and departments not associated with the Ministry (453) treatment only, adding that the dues provinces according to the total transactions made, which will be disbursed to the beneficiaries of contractors amounted to about 614 billion dinars either ministries dues amounted to 750 billion and 288 million dinars, until on March 16 2017.
http://economy-news.net/content.php?id=6965
Walkingstick » March 24th, 2016
Last updated 03/24/2017
Announced Planning Minister Salman Jumaili, Wednesday, for the completion of the audit (1855) Treatment of $ 1 trillion and 364 trillion dinars will be disbursed to contractors soon.
Jumaily said in a statement received "Economy News" that the total dues Contractors that have been audited by the Office of Financial Supervision reached one trillion and 364 billion Iraqi dinars, up to the sixteenth of March this month resulting from the audit (1855) treatment were identical.
He Jumaili, that the total amounts owed definitively reached about 4 trillion and (738) billion dinars .. Indicating that these benefits have been reached after coordination with the ministries and departments not associated with the Ministry and the provinces through a series of workshops held by the Ministry of Planning those actors with the participation of the Ministry of Finance and the Office of financial supervision during which they discuss and show the challenges and problems that were facing the disbursement of entitlements process.
He Jumaili, that the number of transactions submitted to the Office of Financial Supervision up to the middle of the current month of March amounted to (7) thousand and (23) Amaalmlh .. He pointed out that the ministry has asked all stakeholders to give their viewpoint on the observations raised about these transactions in order to reach the final results of the audit and then disbursed to eligible contractors .. blaming the relevant authorities for the delay in the event of failure to answer those important notes.
He said the corresponding transactions relative to the total transactions made was about (26.41%) has been to the provinces the largest share of the total transactions made by amounting to more than 1,400 treatment in the share of ministries and departments not associated with the Ministry (453) treatment only, adding that the dues provinces according to the total transactions made, which will be disbursed to the beneficiaries of contractors amounted to about 614 billion dinars either ministries dues amounted to 750 billion and 288 million dinars, until on March 16 2017.
http://economy-news.net/content.php?id=6965
Walkingstick » March 24th, 2016
Planning is preparing to launch more than one trillion dinars
AGHDAD / morning / Ahmed Abd Rabbo
revealed the Ministry of Planning for the near launch more than a trillion and 364 billion dinars, as receivables to contractors in the form of treasury bonds.
The minister said Salman al - Jumaili, on Wednesday, in a statement «morning» received a copy of it: The «total dues Contractors that have been audited by the Office of Financial Supervision reached Trliuna and (364) billion dinars until the sixteenth of the current month of March resulting from the audit (1855 ) treatment matching conditions.
He added that the total amount owed definitively reached 4 trillion and (738) billion dinars, indicating that the number of transactions submitted to the Office of Financial Supervision up to the middle of the current month of March amounted to (7) thousand and (23) thetreatment.
He Jumaili, said the ministry asked all stakeholders to give their viewpoint on theobservations raised about these transactions, in order to reach the final results of theaudit and then disbursed to contractors eligible, blaming the relevant authorities responsible for delays due not to answer those important notes.
He said the ratio of the corresponding transactions for the total transactions made was about (26.41 percent), it has been to the provinces the largest share of the total transactions made by amounting to more than 1,400 treatment, while reaching the share of ministries and departments not associated with the Ministry to (453) treatment only.
For his part, he said ministry spokesman Abdul Zahra al - Hindawi said in a statement »Sabah» that those amounts disbursed to contractors soon in the form of Treasury bonds, indicating that the rate of payment for projects that exceeded the completion rate in which 85 percent will be 100 percent, provided the contractor promised to complete theproject fully, as it will be paid 40 percent of the projects that the completion rate less a 85 percent dues.
http://www.alsabaah.iq/Article.....?ID=134063
AGHDAD / morning / Ahmed Abd Rabbo
revealed the Ministry of Planning for the near launch more than a trillion and 364 billion dinars, as receivables to contractors in the form of treasury bonds.
The minister said Salman al - Jumaili, on Wednesday, in a statement «morning» received a copy of it: The «total dues Contractors that have been audited by the Office of Financial Supervision reached Trliuna and (364) billion dinars until the sixteenth of the current month of March resulting from the audit (1855 ) treatment matching conditions.
He added that the total amount owed definitively reached 4 trillion and (738) billion dinars, indicating that the number of transactions submitted to the Office of Financial Supervision up to the middle of the current month of March amounted to (7) thousand and (23) thetreatment.
He Jumaili, said the ministry asked all stakeholders to give their viewpoint on theobservations raised about these transactions, in order to reach the final results of theaudit and then disbursed to contractors eligible, blaming the relevant authorities responsible for delays due not to answer those important notes.
He said the ratio of the corresponding transactions for the total transactions made was about (26.41 percent), it has been to the provinces the largest share of the total transactions made by amounting to more than 1,400 treatment, while reaching the share of ministries and departments not associated with the Ministry to (453) treatment only.
For his part, he said ministry spokesman Abdul Zahra al - Hindawi said in a statement »Sabah» that those amounts disbursed to contractors soon in the form of Treasury bonds, indicating that the rate of payment for projects that exceeded the completion rate in which 85 percent will be 100 percent, provided the contractor promised to complete theproject fully, as it will be paid 40 percent of the projects that the completion rate less a 85 percent dues.
http://www.alsabaah.iq/Article.....?ID=134063