Millionday News 7/7/14 Part 1
Welcome To Monday Night News With Millionday!
millionday] there has been a change but it will not be as late as some have said
[millionday] Confirmed on Monday that "the date of the meeting of the Council of Representatives will be in the 13 of this month due to political pressures.
The source, who asked not to be named for (the newspaper of integrity) that "Mehdi al-Hafez, who runs the sessions of the House of Representatives that he had received the older booed several political parties because of the postponement of the parliamentary session to be held on Tuesday.
[millionday] "After extensive consultations and contacts between the political polarity, decided to hold the second session of the House of Representatives on (13) of the month of July, and will be issuing a statement that tomorrow.
A parliamentary source revealed on Monday, the Presidency of the Council of Representatives decided to postpone the second session of the Parliament to the 12th of August next.
[millionday] note -- this announcement when they had decided on the 3th of this month caused a huge stir as you can imagine -- so due to political pressure they have changed it
[millionday] the original even stated that they would not be having session until next year which of course is absurd
[millionday] so as we see -- this is not fantastic but much better than the sabotage that was done in the media earlier today
[millionday] lets hope this is the correct one
[Pablo] What's the reason for the delay?
[millionday] picking the three presidents
[millionday] the results is the only thing we can go by so lets just look at the news and not have a replay of the day of today
[millionday] there are no guarantees of anything to do with this investment -- only that we are going to bring you the news and we are going to watch and see what happens
millionday] they have been given a constitutional deadline to have it complete
[millionday] they seem to be moving very fast in the advancements for the economy and have little desire to ever finish the political side of things -- econoically they are moving fast and doing a lot ---
[millionday] the political change they are having to complete is a stall in the road more than once -- but CBI has been working on a lot of changes in regulations and the move to lift the guardianship of the Warka bank and also extending many of the bank branches throughout the nation as well
kenster] Have they not been told that when they have a stable goi that they are going to be incredibly wealthy ?
[jarhead] No shabibi said seated govt. he's been gone for two yrs
[jtank] already wealthy--gov
[millionday] i have not seen a statement given to the government saying that
txoilman] Could this be the other way ? Like the Gov. Is stalling for the cbi
millionday] we dont know that it is stalled at all hun -- who is to say it isnt right on time -- they are just choosing the leaders for Iraq and implementing many of the steps they have announced to be done
[smiller67] Do you think that's a misprint? It's suppose to be July 12th, and not Aug 12th?
[millionday] i have no way of knowing that but it would seem that they would be starting off on the wrong foot according the constitution ---
[millionday] that of course would be their choice
[jjclark] I am having a hard time making sure I am checking the OMX correctly. From what I can tell, they still are not up yet, correct?
jjclark] Trading on the stock market that is
[jarhead] Their not stable.....
[millionday] they have been under the omx platform and were supposed to launch it july 1st -- however i have seen not a word in ink about it since
[jjclark] O.K. thanks, wanted to make sure I was reading correctly.
[millionday] they are not internationally recognized yet
[millionday] yw all the time hun
[jarhead] Sorry mam
[jtank] no rate
[jarhead] And no date lol
[h-spot] I almost take all these miscues and delays as more positive, in that 'maybe' they are trying to do it all together?
[h-spot] because 'what it' they sat their gov, and then nothing showed for us?
[millionday] they have said recently that they are doing everything together and are also planning on voting the three presidents through in one basket
[millionday] is that what you mean?
h-spot] millionday sorta, more like because one thing can't get done, they won't do the other?
[h-spot] because they want it done at the same time
[millionday] i like to look at ink and not try to guess so lets do that brb with more
millionday] here we go -- Tamimi interact most of the private banks, the local with the Central Bank, which regulates the reality of the work of the movement's financial in the country.
Member of the Association of private banks in Iraq and Wadih Handal said in an interview »Sabah« that private banks play a major role in the stability of the financial situation in the country, especially after he lifted most of the banks, their capital to more than 250 billion dinars.
, and pointed out that some of the banks beyond the stage of reaching the head of his wealth to the extent set out and went to the distribution of profits between shareholders and this goes back to the successes which are calculated to the banking sector Ahli, who became cites technology advanced banking, which in turn raises the number of products offered to customers.
[millionday] note -- this is of course in reference of the regulations set by CBI as they have started the steps of banking reform and the monetary policy
millionday] to it, said Executive Director of the Association of private banks in Iraq, Abdul Aziz Hassoun that banks offer to discuss their annual reports to shareholders and in the presence of representatives of the Central Bank of Iraq and the media competent and non-competent in a move to prove the extent of disclosure and transparency whose adoption by departments to work to show the strengths and weaknesses of each.
added Hassoun said in an interview for "Sabah said that the banking business has achieved many successes in the field of currency Finance through adopting a range of banking products advanced needed by the customer for the success of financial dealings.
millionday] note -- the transparency of the banks that has been also given by regulation has also been shown to be inclusive of many new products they have asked for and services and as we see here --currency finance advancements expected -- huge progress
[millionday] returned Handal to emphasize during the annual meeting of the Bank of the UNESCO that the observations made by the members of the General Authority on the annual report final and final accounts but reflect the interest of the members of the General Authority activities the bank and lead to the strengthening of its capabilities in achieving success for his work. ,
and pointed out that most of the banks exceeded the ceiling set by the Central Bank of the roof of capital and this confirms its success, especially
millionday] note -- they are giving a huge pat on the back to all banks as they have met and exceeded regulations set for them and also have met the reserves set for them and also the services they have expected to get done and ready/available when the time is set
[millionday] that some of them went towards the distribution of annual profits between shareholders after it covered all Altazamth approved by the regulations issued by the Central.
confirmed that the bank is taking is moving to strengthen its science through an agreement with the international bodies involved in the banking business and will enhance its human cross training programs for both internal and external.
[millionday] so the statement that they are cross training for external and internal is of course huge to us because it means that banking services will have to be known both domestically and also foreign locations for their processing
[millionday] and it is also very interesting dont you think that this is an annual report ? i do
[lstar877] New fiscal year?
[millionday] they have referred to the new fiscal year in a report we had this weekend but im not sure where it is but it is in chat
[Pablo] What about Turki's statement that the currency reform was supposed to be done by mid-year? What happened with that?
[millionday] nothing has been done 00 but we are in the middle of the year -- that of course is good news – smile -- he has not changed his statement
[millionday] here is another meeting that they had about the banking reform and regulations
[millionday] Ended Committee emanating from the General Authority of the Association of private banks in Iraq written to draft new rules of procedure of the Association after mandated by the General Assembly is expected to hold a meeting Estnaúa for discussion and approval.
announced that authoritative source in the Commission said it has completed a new formula of the system in the hope presented to the public for discussion and approval.
source pointed out that the Commission deems modified the rules of procedure for the conviction of the importance of that is in line with the requirements of the new phase and in order to meet the need of banks to a strong bond contribute to the maintenance of the rights of the banking sector and then work to unify efforts through fruitful work and construction in the inter-bank and to meet the requirements of development.
[millionday] note -- they are actually meeting on putting all of the steps in place for the banking development that they have stated will be going on for the citizens in the private sector
[millionday] they are also going through them to make sure they will be productive
[millionday] note -- here is the purpose of the new rules
[millionday] explained that the rules of procedure new look will enhance the objectives of the Association and to expand the powers of those who made it and what makes it able to be a haven for banks and coordinated between monetary and fiscal authorities and to enhance the goal of cooperation in addressing the challenges faced by the capital market,
The Association also seeks to apply the provisions of the Rules and the central bank's measures aimed at maintaining the stability of the money market to their importance in achieving economic stability.
[millionday] note -- the CBI will have the capabilities to make adjustments in the regulations to ensure they are successful for the citizens
[millionday] this too is to gain confidence as this is explained to the citizens -- and it gets better
[millionday] The source noted that the move comes after being hit by private banks in Iraq to accusations are untrue by her statements to the media of views had nothing to do and it is the owners of Jurisdiction, including damaged the reputation of the Iraqi banks to enable the Association of the appropriate response in the media or, if necessary, legally.
[millionday] Concluded to to say that the Association has achieved successes at both the exterior and interior and has a special assessment by the Department of organizations in the Council of Ministers and that the new system comes to complement its role in strengthening the national economy through its service to the banking sector.