Morning News Comments 03/23/2015
Association of Banks to discuss the special tax mechanisms
[tlm724] Yasiri in a statement received (time) yesterday that he (got procedures relating to the submission of private banks requests to the Central to decide by the student Private banks documenting their requests through the database of the bank),
[tlm724] let me show you Article 36 of the budget
Article 36 Federal ministries and provinces committed and non-related to the Ministry of buying needs of federal ministries products that not less than the value added of these collected and processed products (25%) of the cost of import value added to them and to the local product prices are not higher than the imported counterparts by more than (10%), taking into account the quality and quality specifications.
[tlm724] to be cooperation between the ministries of trade and finance, as well as the central administration and the creation of a common database to be a burden common to all sides in order to achieve those import system easily serve all parties
[tlm724] the subject of obtaining duties and taxes on the import traders inevitably reflected on the citizen with limited income passively through the transfer of the tax burden for citizens
[tlm724] there it is, getting the system set up according to international standards which is needed for the WTO also and the burden will fall on the people !
Advisor to the Prime Minister calling for the establishment of economic institutions in accordance with the laws of the banks
[tlm724] called for the appearance of Mohammed Saleh stakeholders economic aspect to the creation of economic institutions in accordance with the approved international banking laws
[tlm724] that "it is necessary to outdated work well to keep the financial system in Iraq, and the establishment of institutions according to banking laws to protect workers and depositors.
[tlm724] that the Iraqi Central Bank announced, earlier in his initiation legislation Deposit Insurance Act, and coverage of bank accounts abroad to the US dollar,
[tlm724] the Bank took a number of decisions, including speeding up the legislation of the Deposit Insurance Law and approve the appointment of a representative of the private banks in the bank's board
[tlm724] Saleh know's what is needed and has put out the call, get things up to international standards and get the money protected
[Shredd] tlm724 I agree Saleh is on board for what is obvious to be Abadi's plan to economically move Iraq forward
[Shredd] it's crystal clear there must be solid protections for investor money before investment can come into iraq
[Shredd] the concerns around security will continue but that must be mitigated with assurances that investors aren't going to lose their butts
[Shredd] all the news we've seen over the last few months is pointing to that
[Shredd] investment insurance, fx protections, account balance protection and high returns will give comfort to investors risking their principal cash
[Shredd] this all plays into the "internationally accepted/recognized dinar" the mindless gurus throw around
Abadi invite foreign companies to invest in safe provinces and Iraq's desire to create a safe environment to attract the most prominent oil investment and economic titles newspapers Monday
[tlm724] Shredd there ya go
[tlm724] invitation Abadi foreign companies to invest in the security provinces and Iraq's desire to create a safe environment to attract oil investment in Iraq .. and addresses of the other
[RCS1947] Very Happy
[tlm724] they are listening to the IMF
[Shredd] yes indeed!
Sheikh Mohammed vows to adopt the "crimes" of Saddam against the Iraqi people as "genocide."
[tlm724] Sheikh Mohammed vows to adopt the "crimes" of Saddam against the Iraqi people as "genocide.
[tlm724] BondLady there it is the apology you said was needed !
[tlm724] work in House of Representatives to approve all the former dictator for crimes against the Kurdish people and all components of the Iraqi people from destruction and mass murder and deportation in addition to the chemical bombardment of the villages and cities of Kurdistan operations as crimes of genocide.
[tlm724] Kurds have waited years for this and they deserve it ! It doesn't get more official then creating a special law and paying the victims !
Abadi emphasizes the "solution obstacles" in front of the oil companies and the search for additional resources to compensate for the drop in oil prices
[tlm724] Abadi is getting the word out, we need investors, give some assuances as shredd said and they will come
[Shredd] they will and they've been waiting
[tlm724] yes sir they will !
[Shredd] some people are afraid no one wants to invest in Iraq because of the risks, BS lol
[tlm724] He Abadi, on "Iraq's desire to resolve the obstacles that stand in the way companies, especially oil," adding that "the government has taken since Tsenmha decision to ease procedures for the entry of investors and companies to the country."
Economic Adviser: Statement of the International Monetary Fund to express his opinion and being respected by the government to ensure processors
[tlm724] Salehs thoughts on the IMF report
[tlm724] that the statement of the International Monetary Fund on the economic situation in Iraq expresses the "point of view" that respects the government, while the detection of consultations with international oil companies to find a way "does not hurt Iraq so much,
[tlm724] only hurts a lil bit
[tlm724] The report is important for Iraq being included notices and solutions and the possibility of getting a loan on the way.
[tlm724] lets look at the whole thing
[tlm724] International Monetary Fund in its statement speak for payments outside the budget Kaadz estimates, amounting to 12 percent," noting that "the Iraqi government is working to extinguish those payments or postponement paid or funded additional religion
[tlm724] he continued, "The government will inform the Fund's statement in detail and deal with him.
[tlm724] I bet he will lol
[tlm724] and reconsider the limits for sales of the Central Bank of currency, referring to the overall growth contraction, and the prospect of rising inflation slightly the end of this year.
[tlm724] The Iraqi Council of Representatives, passed in (the 29th of January 2015), the financial budget law For the current year 2015, of which 119 trillion Iraqi dinars, and a deficit of 25 trillion dinars.
It is noteworthy that world oil prices have lost nearly 60 percent of its value, during the last term to drop to below $ 50, before recently re recovery.
[tlm724] the IMF didn't like the cap on the auctions or the limits on the dollar
[tlm724] heres what they said in their announcement
“The foreign exchange market has remained stable in 2014 following steps taken by the CBI to liberalize it, and the parallel market spread had declined to 3.5 percent at the end of the year.
However, the authorities should reconsider the caps on CBI foreign exchange sales and the collection of custom duties through commercial banks.
These measures are effectively restricting the supply of foreign exchange to the Iraqi economy and have boosted the parallel market rates to record levels in the past weeks.
[tlm724] However, the authorities should reconsider the caps on CBI foreign exchange sale
[tlm724] These measures are effectively restricting the supply of foreign exchange to the Iraqi economy and have boosted the parallel market rates to record levels in the past weeks.
[tlm724] the question remains, what will they do about it ?