COMMENT FROM JULY 11,2014
CBI: The use of electronic payment system for the settlement of the instruments between institutions
[tlm724] all the news agencies are picking this up
[RCS1947] there it is
[tlm724] you know I got bashed for that chat I did in Oct. Some other sites were saying Iraq had the best system out there and they were right, they do but it was never linked !
[RCS1947] I remember
[tlm724] sometimes it's good to have verification
[tlm724] The bank said, "The Ministry of Finance has adopted this system in obtaining dues from various institutions instead of instruments, and that this is a key step in the way of comprehensive mechanization of each financial transactions and means of performing the obligations in Iraq." He said the "system was published in the newspaper facts of Iraq No. (4326) of the (23) of the month of June."
[tlm724] so the MOF was linked June 23rd sweet !
[tlm724] now they can implement the tariffs if they are ready
[tlm724] and the CBI as well, global financial transactions etc
[tlm724] going global baby ! *hallelujah*
[RCS1947] hand in hand with ISX
[tlm724] RCS1947 yes ! couldn't be done without it RCS1947
[RCS1947] thats right!
[tomsrunners] tlm724 Help me out here if you could, one day Banking Institutions are leaving Iraq due to their concerns and fears, and now there going global....Confused..
[tlm724] tomsrunners I understand your confusion, the only Bank to physically pull out of Iraq was HBSC, the others are merely protecting their staff during the security crisis, they are not closing their doors permanently
[tlm724] does that help tom ?
[tomsrunners] tlm724 For sure, so things are still going in a positive direction?
[tlm724] I truly believe the economic and banking policies are going forward, this crisis has NOT stopped the CBI from going forward with reform at all !
[tlm724] I am not downplaying the security crisis at all, that is a life and death situation but things are going forward with monetary reform and that's what we all want !
[tomsrunners] tlm724 OK Great news. With the weather forecast looking so good this weekend, you just helped make it even better
[tlm724] tomsrunners hope is alive and well
Link to chat: http://www.bondladyscorner.com/t82430-blc-administrator-tlm724-chat-electronic-banking-10-27-2013
JULY 12, 2014
Saleh: citizen trust the national industry to acquire the global privileges
[tlm724] key things that move the market in the country, as it comes for the purpose of coordination between the efforts of the seller to establish outlets for information and to facilitate the sale of a commodity or service
[tlm724] basically Saleh is talking about the private industry which must be grown, say for instance an Iraqi company produces something, lets say hooka's
[tlm724] well they need to promote their product just like coke or pepsi, advertising
[tlm724] he mentions a capital market which is an economic system in which trade, industry, and the means of production are largely or entirely privately owned and operated for profit
[tlm724] which is a basically a market economy which decisions regarding investment, production and distribution are based on supply and demand and prices of goods and services are determined in a free price system
[tlm724] and that is what we want to see ! all the international organizations require it !
contributes to the promotion, in the definition of a consumer product as well as provide information about the company and Item and abundance of brand and price and the uses of that commodity, and more importantly,
he tempts the consumer impacts of certain psychological make it accept to buy or the acquisition of the product
[tlm724] and while we are on the subject lets look at another article that goes hand in hand with this one
Industry proceed with the application of the law to protect Iraqi products Baghdad - and babysit - Ministry of Industry and began applying the Law on the Protection of Iraqi products according to the request of the Union of Iraqi Industrialists.
Director of development and industrial organization in the ministry Saad Ali between that this law will protect the forty-three material produced inside Iraq.
Adding that the law already protect national products to the Ministry of Industry said it worked, but it stopped it. The statement attributed the reason to stop working with this law by the ministry to the non-completion of its database
[tlm724] Industry proceed with the application of the law to protect Iraqi products *hallelujah*
[tlm724] the reason to stop working with this law by the ministry to the non-completion of its database
[tlm724] now they are linked !
[RCS1947] good news
[tlm724] the CBI and the banks and customs and the GOI !
[cat] yes great stuff
[tlm724] thats an incredible feat !
[tlm724] Now there will be complete accountability for all money moving in and out of the country and we read the statement from the CBI that includes global transactions !
Industry proceed with the application of the law to protect Iraqi products
[tlm724] I just can't begin to tell you how important this step is for Iraq and for us !
[tlm724] This electronic linking has opened all the doors, they have accountability now which they have NEVER had.