Morning News Comments 09/19/2015
Frankincense: Calls replace Abadi guide on the successful reforms and keep him for mischief
[tlm724] that "the political parties, which calls for change or replace the Prime Minister Haider al-Abadi explain to the people that the government has achieved its reforms to fight corruption and expose the corrupt state.
[tlm724] that "those actors seeking to change Abadi being issued a package of reforms, which affected various government institutions."
[tlm724] Allawi ! dirty **** !
[tlm724] The leader of the National Coalition and Vice President of the Republic Almrhq Iyad Allawi had called yesterday to replace Abadi character it says are more powerful than the current Prime Minister. "
[tlm724] he will fight anyone who is PM ! He never got over being replaced by Maliki and now they are trying to get rid of the vice presidents so he will do whatever he has to and try to topple this GOI !
Vice citizen emphasizes the need not to the intersection with the constitution reforms
[tlm724] We are with the reforms launched by al-Abadi and there must be specialized committees to implement them,
[tlm724] noting that "at the same time we must not contradict the reforms with the Iraqi constitution, to avoid challenged the Federal Court.
[tlm724] great point, follow the letter of law and do these reforms right so no one can challenge them !
Iraq admits "money laundering" after international threats by placing it on a "black list"
[tlm724] World Bank pushed the pressures on the Iraqi government and brandishing put Iraq on the black list of the Iraqi parliament on Wednesday to pass legislation past the law of "money laundering and combating the financing of terrorism," just days before the deadline.
[tlm724] World Bank strong armed them and sometimes it takes threats to get Iraq to do something (pass the AML)
[tlm724] And it accused the CBI of being soft on smuggling billions of dollars through shady business deals to buy hard currency from the daily auction managed by the Bank.
[tlm724] The report goes back to late last June during the setback suffered by the Iraqi dinar exchange rate against the dollar after that. The central bank took out, early last June 14 banks waged from the auction currency for failing to pay the amount of remittances taxes and customs,
but returned on June 20 and canceled a decision that sparked widespread controversy and caused a striking rise in the US dollar exchange rate against the local currency
[tlm724] The CBI is being monitored for sure and I really think we should see a change in leadership, Alak has proven that he is not the right man for the job. It's like watching circus clowns in a lil car clown
Abadi: we will create a Foundation for Youth Welfare and call on political parties to take care of them
[tlm724] the government's intention establishment of an institution for the care of young people
[tlm724] I think PM Abadi has a good heart and a sound plan for Iraq but he sure has his work cut out for him with the likes of Allawi and Maliki fighting him every step of the way
Parliament surprised by the government's decision to withdraw 100 law including "federal" and "Service Board"
[tlm724] this is interesting
[tlm724] there is controversy about the COM deciding to back burner these laws but it was done to make sure the laws are up to speed with the reforms, the laws were done during Maliki's term so I would do the same thing. PM Abadi obviously wants the financial laws front and center, as do we Wink
[tlm724] New measure some lawmakers attributed to changes in the month of August after a series of reform packages and low oil prices and austerity measures taken by the government, which said it could not fit now with the "abundance of financial laws."
Central bank: electronic payment in its final stages and the private sector participated in the project secured
FYI : Real-time gross settlement systems (RTGS) are specialist funds transfer systems where transfer of money or securities takes place from one bank to another on a "real time" and on "gross" basis. Settlement in "real time" means payment transaction is not subjected to any waiting period.
The transactions are settled as soon as they are processed. "Gross settlement" means the transaction is settled on one to one basis without bundling or netting with any other transaction.
Once processed, payments are final and irrevocable. RTGS systems are typically used for high-value transactions that require immediate clearing.
In some countries the RTGS systems may be the only way to get same day cleared funds and so may be used when payments need to be settled urgently.
However, most regular payments would not use a RTGS system, but instead would use a national payment system or network that allows participants to batch and net payments.
RTGS systems are usually operated by a country's central bank as it is seen as a critical infrastructure for a country's economy.
Economists believe that an efficient national payment system reduces the cost of exchanging goods and services, and is indispensable to the functioning of the interbank, money, and capital markets.
A weak payment system may severely drag on the stability and developmental capacity of a national economy; its failures can result in inefficient use of financial resources, inequitable risk-sharing among agents, actual losses for participants, and loss of confidence in the financial system and in the very use of money
[tlm724] getting everyone linked up and ready to rock and roll Wink
[tlm724] "the Bank is working with banks and specialized companies to launch government collections electronically".
[tlm724] thats huge ! just sayin...
[tlm] so huge that you may want to refresh your memory by reading this short chat from 2 years ago Wink
BLC Administrator tlm724 Chat Electronic Banking 10/27/2013 LINK