Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Tuesday PM Chat 6-28-16 Part 1 of 2
rcookie says to Martha Sue():GOING TO BRING THIS IN AGAIN FROM THIS MORNING..
THIS INFORMATION AND THE COMPANY'S ACT NO.21 IT REFERS TO IS HUGE.....HUGE ...HUGE!!!
rcookie says():Cabinet restricts import, export and buy the currency registered with the trade companies
Author: AB, ASJ Editor: AB 6.28.2016 11:08 Number of Views: 716 Long-Presse / Baghdad The Cabinet decided on Tuesday, limit import and export process as the companies registered with the Ministry of Commerce, and the establishment of companies "solidarity" Alkmarki holds the clearance process, while select the first of next July as the date for implementation.
He said the Prime Minister Haider al-Abadi's office in an official letter addressed to the ministries and departments not associated and provincial councils entitled (import and export) procedures, I got (the long-Presse), a copy of which,
"The approval got a limited import and export of materials and goods, and buy the currency as Operation companies registered with the registration of companies in the Iraqi Ministry of trade Department, of all materials covered (provided import) leave, or not covered. "
He pointed out the book, to "establish a company (solidarity) exclusively holds the clearance process Alkmarki," Nasa that "begins the implementation of paragraphs, starting from the first of next July."
The promise of a book, the Office of the Prime Minister that, it "came in line with the reforms launched by the Prime Minister package, based on the provisions of the Companies Act No. 21 of 1997 as amended, and in order to control the settling accounts Alkmarki and tax procedures for the purpose of regulating the import and export of materials and goods and adjust the traffic movement amounts in foreign currency, including those funded by the Central Bank of Iraq. "
jarhead says():Rc what does this mean?
angus says():seems like alot of things to happen on the 1st of July.....
angus says():love that word implementation!
rcookie says():THIS MEANS THAT AS OF JULY 1ST THEY HAVE ESTABLISHED AN ENTITY TO REGULATE IMPORTS/EXPORTS WORKING WITH MINISTRY OF COMMERCE AND CONTROL THE CURRENCY.......
THE FOREIGN CURRENCY MOVEMENT OF TRADE FUNDS INCLUDING CBI FUNDS.....
jarhead says():tks...im guessin thats good lol
rcookie says():AND LOOK WHAT THIS LAW HAS TO DO WITH!!!!!.....WOW....THIS DEALS WITH THE COMPOSITION AND STRUCTURE OF ALL COMPANIES IN IRAQ ESPECIALLY PUBLICLY TRADED COMPANIES ON ISX....
wmawhite says to rcookie():IMO,..........one way a cenral bank controls the movement of its currency is with its value.
loop says to rcookie():Slackers
wmawhite says to rcookie():IMO,....the CBI may be positioning the banks prior to authorizing/directing them to settle all foreign remittences with the IQD.
rcookie says():PLEASE LOOK AT THIS LAW ....AND WHAT IT ENCOMPASSES...
angus says():so is this saying that the entity to contro the curreny is out side of the CBI
rcookie says to wmawhite():GREAT POINT...
wmawhite says to rcookie():in other words,.......if the CBI directed the banks to settle/pay all foreign remittences/bills today with the IQD 1182 IQD would be leaving the country for every $1 paid.
wmawhite says to rcookie():So how does the CBI control the outflow of the IQD........????
rcookie says():THINKING OF THE IMPLICATIONS FOR ARTICLE VIII AND WTO ACCESSION....
wmawhite says to rcookie():With the value of the IQD
rcookie says():EXACTLY...ALAK SPOKE ABOUT TODAY..
wmawhite says to rcookie():Hmmmm
rcookie says():I THINK I READ A COMMENT OF SOMEONE QUESTIONING AS TO WHETER IMF HAS TEETH CONCERNING IRAQS POLICIES AND ACTIONS.....EVEN TOWARDS RESERVES...
rcookie says():Relationship carries the responsibility of Government and Parliament Iraq reserves to 53 billion dollars.
June 28, 2016 74 Our economy/Baghdad The Central Bank Governor said the agency relationship to Iraq's foreign currency reserves reached 53 billion dollars, except that it is in line with international standards and regulations of the International Monetary Fund, the House of representatives and the Government reduced the reserve because their make a friend of balancing its fiscal deficit.
He said the relationship he briefed reporters our agency newsletter, ' foreign currency Bank reserves reached 53 billion dollars could change up or down depending on what it wants from the Ministry of finance ', stating that ' the amount within the Bank and the International Monetary Fund last demonstrates enough to reserve in accordance with the international standard of the existence of the amount of foreign exchange to cover the size of the local currency of the dinar.
He added that relationship ' means the Central Bank foreign currency reserves exceed local ', adding that ' high or low reserve caused by factors outside the Central Bank's will or control, being influenced by two factors, namely the dollar amount to the Bank, selling oil, and what you get Finance Ministry of oil sold by dollar bank to get JD to cover their expenses.
The CBI had been rejected in (13 January 2016) draw from Government reserves, while attributing it to law ' not allowed ' to the Government, invited them to issue bonds and sell them to banks.
rcookie says():YOU TELL ME......
jeffusa says to rcookie():so the all the pieces are in place at the borders... tariffs, taxes, ability to track IQD...
wmawhite says():Folks,..........remember what Alak stated;........"general stability...."
rcookie says():SO THEIR RESERVE LEVEL IS EING DIRECTED BY IMF ACCORDING TO CIRCUMSTANCES AND ENVIRONMENT....AND ABOVE INT'L STANDARDS TO COVER THE LOCAL CURRENCY OF THE DINAR.......
Soonergirlie says():(y) wow guys, we are seeing historic activity! 8-|
wmawhite says():this news continues to be incredibly outstanding!!!
Soonergirlie says():when they lower the dinar to dollar count, they will slow the export of dinar out of the country... :D
Soonergirlie says():(y) good point Mr. White
Pablo says():Wouldn't they want high dinar export out of the country? High demand means low supply and low supply would drive up the value.
Soonergirlie says():high dinar value, yes, that is good Pablo. Then less dinars leave the country
JETSET says():word on the street is that the news is rockin' in here right now.... i had to come in and check it out!
wmawhite says to Hutch():I concur
da58 says():Prime mass reveals preparations to hold a parliamentary session in the presence of al - Abadi before Eid
28/06/2016 13:22 Kanna Information / special ..The chairman of Iraq's parliamentary bloc Kanna, Tuesday, preparations for the convening of a meeting of the House of Representatives in the presence of Prime Minister Haider al-Abadi before Eid al-Fitr, as he emphasized that the decision not to invoke the Federal Mahkh Bgelsta Parliament, which were held in April, "binding for all."
He said we were told / information /, said that "there are preparations and preparations for the holding of the parliamentary session before the Eid al-Fitr in the presence of Prime Minister Haider al-Abadi," adding that "it comes from in order to re-launch the ministerial cabin."
He said we were, that "the Federal Court decision released today, and spent not invoked Bgelsta the House of Representatives held on 14 and 26 April, it became binding for all."
Federal Court decided in its held on Tuesday, "Irrelevance" Bgelsta the House of Representatives held on 14 and 16 April.
She stressed the parliamentary reform front formed by the protesters of Representatives, today, that it "respects" the decision of the Federal Court, noting that the decision was "binding for all", as indicated that they will return to the Council as "the opposition."
I promised the President of the will of the MP Hanan al Movement, today, the court's decision as a "first victory" recorded in favor of the reform front, while confirming the front torque submit a new request to dismiss the parliament speaker Salim al-Jubouri.
He also stressed the legal expert Tareq Harb, today, that the court's decision requires re-vote on the ministers who presented by Prime Minister Haider al-Abadi Council within the new ministerial lineup, pointing out that the decision will remain on Salim al-president of the parliament. Finished / 25 p.
Hutch says to wmawhite():IT SEEMS THAT THEY ARE SETTING UP TO CONTROL VELOCITY..... IS THAT CORRECT? OR AM I THINKING WRONG?
wmawhite says to Hutch():you are on target!!!
da58 says():""it comes from in order to re-launch the ministerial cabin." LUVIN THAT
wmawhite says to Hutch():at the same time they do not want too much velocity leaving Iraq.
so that is controlled with the value.
wmawhite says to Hutch():Idealy,....all of that velocity, currency continues to turn over inside Iraq.
wmawhite says to Hutch():But, Iraq imports 90+% of its goods.
Hutch says to wmawhite():YES MAKES SENSE
wmawhite says to Hutch():Therefore, alot of currency is needed to pay other counties for the imports.
Pablo says to wmawhite():IYO, do they need to have parliament to finish the stuff before the holiday to RV, or can they just go for it any time?
daytrader says to wmawhite():I can only think of two ways to control the velocity of IQD out of country; 1. Reduce imports, 2. Raise the value of the currency
Hutch says to wmawhite():CORRECT A LARGER VALUE WILL SLOW VELOCITY
wmawhite says to Hutch():so,..would you want to send 1182 IQD for every $1 of import..............or, send less.
Soonergirlie says():send less
wmawhite says to Hutch():Correct
Soonergirlie says():wwaaaayyyyyy less :D
wmawhite says to Soonergirlie():correct
Hutch says to wmawhite():IM SMELLIN WHAT YOURE STEPPIN IN :D
wmawhite says():Folks............the more valuable the IQD is,......the less Iraq pays for their imports
da58 says():So - appears to me, parl to resume prior to end of their holiday.. for the purpose of voting on ministers..
wmawhite says to Hutch():That article speaks about controlling imports, exports, currency...........
da58 says():as a priority
Hutch says to wmawhite():I LOVE IT !
wmawhite says to Hutch():IMO,.....there is a translation issue with the content...........but controlling currency, going out and coming in, is done by the CBI via exchange, via value.
Hutch says to wmawhite():MAKES PERFECT SENSE !!!
Woodywoodpecker says():thank each of you for this news you bring us
angus says to wmawhite():thank you the translation issue was messing me up I thought they were talking about a whole other group controling it... thank you
SRW says():I'm hoping what he is stepping in is $$$$$$!!
wmawhite says to angus():PM abadi likes setting up study groups/committees to make recommendations prior to a decision being made. That may be what that article is referring to.
angus says():thank you
JETSET says():building consensus is always a great way to get things accomplished. it may take longer in the short term but in the long term, hopefully you have better unity!
popeye7 says():Just an observation, but the IMF, and other agencies have been telling Iraq to make cuts within their budget... This would mean less could be done because of those cuts... But would it if they are planning to add more value to their currency?... Was that the reason the IMF, and other agencies told Iraq to trim their 2016 budget?
llighthouse says():That sounds nice
loop says():JUBOURI SETTING A DATE FOR THE FIRST SESSION OF THE NEXT LEGISLATIVE TERM OF THE PARLIAMENT
28/06/2016 19:52 BAGHDAD / Babylon 24 / .. announced Parliament Speaker Salim al-Jubouri, on Tuesday, the start of the third legislative term of the parliament in the first of the month of July, noting that the twelfth of next month will hold the first session in this chapter.
Jubouri said in a statement received / Babylon 24 / copy of "The Iraqi Council of Representatives to announce the start of the third legislative year in the first of July, it calls for gentlemen and ladies of Representatives to begin their legislative and supervisory duties", pointing out that it "will be the first plenary meeting held in this chapter on 12/07/2016. "
"The Council is determined to proceed with the legislation of laws and important decisions affecting the needs of citizens and touches their aspirations, as well as the determination of parliament, the focus of this legislative year on corrupt and negligent in the performance of accounting file whoever they are and the perpetrators of the dereliction and questioning realized Terms questioned executives of different positions and responsibilities in the state. "
And that "this chapter will witness the activation of the exceptional work of the committees, and will be displayed evaluate its performance offerer soon in order to ensure her best performance and contributes to the result in the service of the citizen", calling on the government to "interest in affairs of the service, particularly in the electricity issue."
The Supreme Judicial Council, announced earlier on Tuesday that the Federal Court decided "Irrelevance" Bgelsta which were held on 14 and 26 April last Parliament.
daytrader says to loop():Thanks loop. We've all been wondering when they were going to meet next. Wonder what happened to the sence of urgency.
llighthouse says():Does this effect the reval.
llighthouse says(): ?
daytrader says to llighthouse():Don't know, but it does impact the SBA loan
da58 says():this is saying the 12th... the one I posted said "the chairman of Iraq's parlimentary bloc' - saying 'before the EID holiday..... hmmm wonder which art is correct - or the most recent?