Morning News Comments 12/13/2013 By Tlm724 BLC Admin
Economist: procedures for standardization and quality control must be applied to all border crossing points 13-12-2013 08:03 AM
Baghdad (news) .. Saw economic analyst Abdul-Sattar al-Hashemi, said the measures the Department of standardization and quality control for checking goods do not include the ports of the Kurdistan region
[tlm724] this is important and shows us that the ports (borders) are ready throughout Iraq with the exception of Kurdistan
[tlm724] they can fix that in a short time too ! Jan 2nd is right around the corner they can even put up temporary check points
Read More Link On Right
Kurdistan region: the export of oil to Turkey a matter of time and contracts signed before 20 days
Created on Friday, 13 December / 1 December 2013 11:50
[rsp1] With a 20 day completion date, that'll be just after the new year...I wonder if they have a specific plan for right after the first of the year...HCL, Tariffs, banking laws...just my opinion
[tlm724] rsp you just might be right Wink
Expert: deteriorating conditions behind the "escape money" to the outside 12-12-2013 01:43 PM
Baghdad (news) .. Said banking expert Majid picture, that the security situation and the economic and behind the flight of money abroad. said the picture (of the Agency news):
that the current situation has led to people resort to pull their money out of banks and convert them out of Iraq to maintain them, indicating that the escape is a legitimate and legal because it is the process of converting reverse process 'smuggling money
[tlm724] has led to people resort to pull their money out of banks and convert them out of Iraq to maintain them
[tlm724] continuation of the process of withdrawal of deposits will harm the overall activity in the market and the Iraqi economy,
[tlm724] that's it, it reduces the banks capital, they gotta put the brakes on this !
[tlm724] and the only way to do it is to amend the banking laws, which they are Wink , and make an attractive environment for the people which they can by changing the monetary policy which they are doing also, they need to speed things up to make this work and the several articles we have seen pointing this out have a purpose. I believe there is a real hard push going on to get these things done now !
Reflection wrote:This is all great news. Thank you. I'm curious though.... If parliament isn't going to do the whole lower denoms and 3 zero project in this session it could still be a while I guess.
They are gettin there slowly, making progress on the laws and such. Until parliament approves releasing the lower notes, the 3 zero project is kinda on stand still and the rate can't really get much higher in value. Am I understanding this correctly?
Tlm724: Hi Reflection Wink part of this can be taken care of outside of Parliament proper, have a look at this : December 12, 2013 BAGHDAD / electronic integrity - Mustafa al-Araji -
Parliamentary Finance Committee confirmed on Thursday that it will make some amendments to the Banking Act for the advancement of investment banking in Iraq.
The committee member said Haitham al-Jubouri told ((newspaper rectitude)) "The Finance Committee will make some amendments to the Banking Act and through it will enable the banking sector from the investment of funds for the purpose of supporting the economic sector during the upcoming period.
He added Jubouri that "the new amendment will address the problems of the banking sector.
Jubouri said that "the Commission has succeeded in organizing a workshop in coordination with a number of international banks which were able to identify the weak points and the lag in the Banking Act as well as the need for the adoption of advanced information technology for the purpose of upgrading the movement of investment in the country.
[tlm724] that confirms what Bondlady said, the CBI does not have to go through Parliament for the amendments just the finance committee !!
Re: Morning News Comments 12/13/2013 Today at 1:16 am
Reflection:Thank you, that is very helpful. One thing I'm still not sure of.... Maybe I am misunderstanding it or misreading something.... But I was thinking that parliament had to approve the release of the lower notes....which would be almost manditory before the CBI could raise the rate to anywhere near a buck.
All these laws being passed is needed and great progress. Once all that's done, would we be waiting on parliament to do their deal on the lower notes, then the CBI to do the zeros project?
Does any of that make sense? lol!