Millionday Roundtable 4/24/15 Part 1
Welcome to dinarupdates.com and Roundtable with Millionday!
Millionday: Baghdad, The Iraqi government approved on Thursday a law allowing citizens to withdraw money from their bank accounts up to 100 million dinars (US $ 84 388), only after the passage of years since the adoption restrict fiscal drag system from banks at 25 million dinars ($ 21 thousand).
Millionday: NOTE -- THIS IS A RAISE FROM THE 25 MILLION TO 100 MILLION ALLOWED FROM BANKS
Millionday: NOW THIS IS VERY INTERESTING FOR MANY REASONS --- AND THEY EXPLAIN MANY OF THEM WE WILL DISCUSS
Millionday: The move, according to observers, within the government's attempts to control the phenomenon of the adoption of the dollar in the Iraqi market through large daily transactions, Kelsafqat business, buying and selling real estate, because of the scarcity of local currency.
Millionday: NOTE -- THEY HAVE ALLOWED THIS JUST FOR BUSINESS AND THIS IS SO THE DUNAR IS USED FOR ALL THE PURCHASES AND INVESTMENTS LISTED HERE -
WITH THE PREVIOUS REGULATION IN PLACE IT WOULD LEAD TO THE USE OF THE US DOLLAR DUE TO THE LOW ALLOWANCE
Millionday: She said the Iraqi government , in a statement amounted to "the new Arab" a copy of it, "The General Secretariat of the Council of Ministers directed to raise the ceiling certified instruments issued by private banks from 25 million dinars to 100 million dinars maximum procedural transaction, which is by citizens with government departments. "
Millionday: NOTE -- THIS ALSO RAISES DEMAND --AND NOTICE THIS IS FOR THE "NEW ARAB"
Millionday: She added that "for the development of the private task banking sector decisions, and we are working on the establishment of the Ministry of Finance to compel government departments to accept certified instruments issued by private banks, and coordination between the Finance and the Central Bank of Iraq and
Millionday: NOTE -- THEY ARE EXPLAINING TO THE PUBLIC THAT THIS IS ALSO TO BUILD THE RELATIONSHIP WITH THE PRIVATE BANKS AND THE CENTRAL BANK OF IRAQ /GOV
Millionday: the Association of private banks to put controls and mechanisms are clear and specific to deposit employees and pensioners in private banks, including guarantee the rights of depositors, in addition to the establishment of the Iraqi Central Bank and government to study the possibility of banks lending to private banks to finance small and medium enterprises. "
Millionday: NOTE -- THIS IS ALSO TO APPLY SOME OF THE NEW REGULATIONS DONE WITH THE BANKING REFORM OR TO SUPPORT THE BANKING REFORM
Millionday: He continued: "The Committee decided that the Trade Bank of Iraq to open lines of credit to the private banks, under the supervision of the Central Bank of Iraq, ‘
and the emphasis on activating the role of the financial court, as stipulated by the banks, according to the law of the Central Bank of Iraq and not to resort to other courts."
Millionday: NOTE -- THIS APPROVAL BY THE GOV DONE ON THURSDAY INCLUDES ANOTHER ACTIVATION --- THE FINANCIAL COURT AND ALL LAWS TO DO WITH IT
Millionday: It was also decided also discuss "the possibility to take advantage of the reserve requirement for private banks, and the approval of the recommendations controls letters of guarantee,
and the emphasis on Finance and the Central Bank on the opening credits to the private banks up to 10 million dollars without passing through the Iraqi Trade Bank."
Millionday: NOTE -- APPLICATION OF NEW REGULATION FOR SMALL LOANS
Millionday: AND ALSO REGULATIONS THAT WILL MONITOR AND MINIMIZE IN SMALL LOANS INTERFERANCE WITH TRADE BANK AND ALLOW THE PRIVATE BANK TO HAVE MORE POWER THROUGH CENTRAL BANK AND A VERY IMPORTANT RELATIONSHIP
Millionday: NOTE -- THIS IS ALL PART OF THE REFORMS AND ACTIVATION HAPPENING NOT BEING TALKED ABOUT
Millionday: He stressed the Council, according to the same statement, that "the economic committee and sent to the bank Rafidain and Rasheed deposit part of their money to the private banks,
in exchange for soft benefits, the private investment of these funds in investment projects of private banks, and the establishment of the Iraqi Central Bank to submit a draft deposit guarantee the necessary speed ".
Millionday: NOTE -- AGAIN THE ESTABLISHMENT OF A WORKING RELATIONSHIP IN BANKING ---
HERE WE SEE WITH PRIVATE BANK AND RASHEED AND RAFIDAIN -- ALSO THE LETTERS OF GUARANTEE THAT WE ARE USED TO HERE
Millionday: As has been the "special private banks urged to find partnerships with international banks to create investment opportunities and operation of labor," in addition to "educate citizens to deposit their money in banks."
Millionday: SO THEY ARE BEING ASKED TO MOVE FORWARD WITH REACHING OUT TO THE INTERNATIONAL BANKS THEY PLAN TO HAVE RELATIONS TO AS WELL
Millionday: THINK ABOUT THAT
Millionday: THE ESTABLISHMENT OF BANKING REFORM AS IT WILL BE ACTIVATED HAS NOT BEEN COMPLETLY SPELLED OUT SO -- WE ASK IS THIS REAL OR JUST A WAY TO SIT STILL ? ---
NO THIS IS PART OF THE INTERNATIONAL COMPLIANCE ACTIVATION THAT WE HAVE WATCHED TAKE PLACE AND ALSO THE BANKING REFORMS THAT ARE WEAVED WITH ALL ECONOMIC REFORMS AND THEIR PACKAGE
Millionday: LOVE IT
Millionday: National Alliance MP Messenger Radi Abu Hasna that Parliament grant eligibility laws legislation is a major achievement for the new Iraqi government.
Abu Hasna said in a press statement that "the Federal Court decided that the House of Representatives in the legislation of laws without reference to the Council of Ministers thus granting Parliament to legislate and vote on them without reference to the Council of Ministers is a great achievement for the new government."
Millionday: NOTE -- WHOOOPOW -- PARLIAMENT STARTED THE NEW POLICY OF PASSING THE LAWS WITHIN THEIR ELIGIBILITY LAWS
Millionday: He added that "this procedure can the House of Representatives in the important laws that serve the citizens legislation.
Parliamentary Legal Committee announced that the Federal Court gave the right of Parliament to submit proposals for legislation laws, saying that the decision brought to mind one of the materials.
Millionday: THIS IS A HUGE STEP AND I WISH IT HAD BEEN APPLIED A LONG TIME AGO -- BUT
Millionday: LETS THINK ABOUT THIS AS WELL
Millionday: EVERYONE IS FOCUSED ON THE ECONOMIC REFORM (INCLUDING ME) HOWEVER –
THIS IS A HUGE REFORM PACKAGE THAT INCLUDES LEGISLATION AND POLITICAL REFORM THAT HAS TO BE DONE AT THE SAME TIME TO MAKE ALL REFORMS WORK TOGETHER AS DESIGNED
Millionday: WE HAVE BEEN FOLLOWING IN ROUND TABLE HOW THIS ALL IS LINKED AND THIS IS OBVIOUSLY MORE OF THAT SO...
Millionday: JUST THAT WE ARE ABLE TO CHANGE OUR ROUND TABLE AND WATCH THE APPLICATION OF THESE STEPS TELLS US THAT THEIR PRESS ANNOUNCMENT THAT THE REFORMS WERE BEING ACTIVATED IS NOT JUST ALL TALK -- BECAUSE WE SEE IT HERE
Millionday: THIS IS PART OF THE REFORM PACKAGE -- THEY HAVE CHANGED THE WAY THEIR LAWS ARE BEING PLACED IN THE BOOKS -----
BEFORE IT WENT THROUGH SO MANY CHANNELS I CAN REMEMBER LOSING SOME OF THEM SO THIS IS ACTION IN ANOTHER AREA OF THE REFORM PACKAGE
Millionday: Deputy for the national forces: Parliament canceled a vacation for the month of May amid efforts to pass important laws
Announced by National Forces Alliance victory for al-Jubouri Cancel House of Representatives legislative holiday for its members for the month of May with a view to the next important laws that the Council was not able to legislation during the previous sessions of the legislation.
Millionday: NOTE -- THE HOLIDAY FOR MAY IS CANCELLED TO MAKE SURE THAT THE LAWS ARE PUT THROUGH THEY HAVE TO HAVE -- LETS LOOK AT WHAT LAWS
Millionday: HOLD ON TO YOUR HAT
Comments may be made at the end of Part 2 Thank You