Millionday News 3/23/15 Part 1
Welcome to dinarupdates.com for News Time with Millionday!
Millionday: NOTE -- READ EVERY WORD THIS REPORT IS VERY TELLING AND SHOWS ALOT OF WORK THAT NEEDED TO BE DONE --
Millionday: Complexity of the Arab Commission for propulsion systems and settlement, its annual meeting atheist ten Tuesday and lasts two days in the Omani capital Muscat to discuss the latest developments concerning the work of the International Committee on the level of implementation of the new international principles for infrastructure capital markets issued by the Bank for International Settlements and the International Organization for bodies Approved Securities by the Group of Twenty.
Millionday: NOTE -- THE MEETING THEY ARE TALKING ABOUT IS HUGE AND IS ABOUT THE IMPLEMENTATION OF A NEW SYSTEM IN THE INFRASTRUCTURE FOR CAPITAL MARKETS AND THIS IS ISSUED BY BIS (BANK OF INTERNATIONAL SETTLEMENTS)
Millionday: NOTE -- THIS IS HAS ALSO BEEN PREPARED BY THE GROUP OF TWENTY (BODIES FOR APPROVED SECURITIES)
Millionday: A statement by the Arab Monetary Fund, seen by the "morning" will participate in the meeting of the World Bank representative, who will present the most important aspects of the new initiative to support the Arab countries in the application of new international principles.
According to the statement, it is scheduled to attend the President of the Board of Directors overseeing the coding system Consolidated global legal related Council financial stability, which will give a presentation about the new coding system and its impact on payment and settlement systems.
Millionday: NOTE -- THIS INTERNATIONAL CODING SYSTEM WILL BE PRESENTED TO SHOW HOW IT WILL BE IMPLEMENTED AND ALSO ITS IMPACT ON THE ARAB REGION --- HUGE HUGE
Millionday: will also be at the meeting to discuss the initial drafts of the four working papers on topics of interest to systems payment and settlement,
the first on the "needs upgrading small value payment systems", and
the second on "mechanisms to pay for workers' remittances", and
the third on "job overseeing the payment and settlement systems", and
the fourth on "aspects of the development of government payment and collection systems."
Millionday: SO THIS WILL CHANGE THE WAY THAT ECONOMIC DATA IS DONE WITH FINANCIAL IMPACT
Millionday: A NEW CODING SYSTEM --- HUGE HUGE
jarhead: what does this all mean?
jarhead: define coding PLS
Millionday: The coding system is designed to facilitate the exchange of data on balance of payments, international investment position, international trade in services, and foreign currency liquidity among these organizations, their member states, and other interested organizations or entities.
Millionday: SO THIS IS THE INTERNATIONAL SYSTEM THAT GIVES THE DATA FOR EACH COUNTRY AND ORGANIZATION ----THE EXCHANGE BETWEEN
Papatom: the BIS is owned and operated by the Central Bankers of the World. so this new system is something that the CBI is squarely behind and supportive of....
and in my opinion, evidence that we are closer to the date THEY plan on increasing the value of the dinar.... as they are the one who knows...am I crazy MD?
Millionday: THIS IS THE ANNOUNCEMENT OF THE MEETING THAT WILL INTRODUCE IT TO THE ARAB REGION SO THIS WOULD BE THE GOVERNOR OF CBI AND SHOULD ALSO INCLUDE MANY OTHER FINANCE FROM EACH COUNTRY AS WELL ---
THIS IS THE SYSTEM THAT THEY USE FOR DATA AND FOR DEBT AND AGREEMENTS -- HUGE HUGE THAT IS ALL NEW
Millionday: >>>the most important aspects of the new initiative to support the Arab countries in the application of new international principles.
Josie: What is the timing of this meeting ? I see the word "tuesday" in opening paragraph, does the 2 day meeting start tomorrow ? (no actual meeting dates stated in the news releases) Thank you in advance
Millionday: THIS LOOKS LIKE TOMORROW WITH NO OTHER REFERENCE TO ANOTHER DATE -- AT TEN OMANI
tman23: Group 20 = G20 = Paris Club = somebody wants paid.....
Millionday: THE GCC TWENTY HAVE AN IMPUT ON ITS CREATION --- YES
Millionday: IT MAKES YOU WONDER ABOUT THE TIMELINE AND HOW LONG IT TOOK TO CREATE AND IF IT TOOK LONGER THAN EXPECTED AND IF IT IS PART OF THE CHANGE THAT REFORMS HAVE BEEN DESIGNED TO GO WITH FOR IRAQ
Millionday: the most important aspects of the new initiative to support the Arab countries in the application of new international principles.
Millionday: I LOVE THAT PART
Millionday: NOTE -- NOW LOOK AT THIS MEETING THAT HAPPENED TODAY
Millionday: READ EVERY WORD >>>>>Stressed Prime Minister Haider al-Abadi , on Monday, the need to develop to control the Iraqi dinar exchange rate mechanisms, while stressing the importance of a well-developed banking system in Iraq comparable to developed countries.
Millionday: NOTE -- THIS IS A MEETING WITH ABADI AND CBI GOVERNOR
Millionday: Ebadi said office said in a statement Alsumaria News received a copy of it, that the Prime Minister ", received in his office today, Governor of the Central Bank on the Keywords,"
noting that "During the meeting, they discussed the work of the central bank's strategy for the coming period and the control of the Iraqi dinar exchange rate against currencies foreign. "
Millionday: NOTE -- SMILE
Millionday: He stressed Abadi, according to the statement, "the importance of the central bank maintains its independence and work to promote the financial and economic reality of the country and draw financial and economic policies that enable us to move forward towards what we aspire to."
said Abbadi, "The Importance of Being to Iraq banking system developed comparable countries advanced, "stressing" the need to develop to control the Iraqi dinar exchange rate mechanisms. " It was an economic advisor to Prime Minister Haider al-Abadi said in (February 5, 2015) high dollar prices in the Iraqi market bubble, as he emphasized that some of the imports are of futility.
Millionday: SO AS WE SEE HERE -- ABADI IS STRESSING THE INDEPENDENCE OF CBI BUT IS STATING THAT THE ECONOMIC AND FINANCIAL REALITY AND ALL POLICIES NEED TO BE MOVED FORWARD TO REACH THEIR GOALS --
Millionday: WHOOPOW -- LOVE IT
Millionday: THIS IS OBVIOUSLY A MEETING THAT WE WOULD LIKE TO BE A FLY ON THE WALL FOR AND THE TIMING OF IT WITH THE NEW SYSTEM -- HMMMM
awesomedtl: hon we been hearing this song and dance for months now havent we!?!??!
Millionday: THIS SONG AND DANCE? --- NO I HAVENT HEARD ANY OF THIS
awesomedtl: they keep talking about moving the reforms
Millionday: A NEW INTERNATIONAL CODING SYSTEM BEING DONE AND IMPLEMENTATION BEING EXPLAINED TOMORROW ---- NO
Millionday: I THINK THAT THE REFORMS MAY HAVE BEEN RELIANT ON THE NEW SYSTEM AS IT WOULD NOT BE SMART TO ACTIVATE THE OLD SYSTEM WHEN THE NEW SYSTEM WAS ABOUT DONE ---
SO LOOKS LIKE THIS WAS IMPORTANT TO BE DONE BEFORE IRAQ ECONOMIC REFORMS OR EVEN COUNTRY REFORMS ---
Millionday: WOW THAT IS HUGE NEWS TO JUST COME OUT DONE -- LOVE IT
Millionday: NOTE -- THIS IS ON ISX
Millionday: Execute International Cross to National Islamic Bank on Monday Mar 23, 2015
Al-Wafaa Brokerage Firms (buy) & (sell) executed International Cross to National Islamic Bank on Monday Mar 23, 2015, in traded shares (75) million share in additional session time after 12 o'clock.
Millionday: The Iraqi Association of private banks, on Monday, the central bank imposed a special program for tax guarantees and customs of goods,
as shown that this measure came under the guidance of the Council of Ministers to determine the work of traders and keep them away from illegal transactions in foreign currency smuggling,
the Agricultural Bank confirmed that work on this The program will reflect negatively on the Iraqi consumer because it will cause rising prices of imported goods.
Millionday: NOTE --- CBI IMPOSED A SPECIAL TAXATION SYSTEM DIRECTLY ORDERED FROM CBI AND IS FOR THE TARIFF AND CUSTOMS -- BUT IS A LITTLE DIFFERENT THAN PLANNED
Millionday: The executive director of the Association of private banks in Iraq, Tariq vacationer in an interview with the (long-Presse) on the sidelines of the Association held a seminar for banks in the hall eyes Baghdad restaurant in Baghdad,
"The Association of private banks in Iraq held a joint seminar with the board of general taxation to explain the program, which will be action by the banks regarding the tax and customs guarantees and this program is not the cons as far as the consequences for their decision mechanism."
Millionday: NOTE -- THEY HELD A SEMINAR WITH BANKS TO EXPLAIN THE IMPORTANCE OF THE SYSTEM IMPOSED TODAY
Millionday: "During the seminar some queries raised by the representatives of the banks and we talked to many of the issues and all this was to ensure the correct conversion operations outside of Iraq, as well as lack of any breaches"
For his part, director of public relations at the Association of Iraqi private banks Majid Michel said in an interview with the (long-Presse), "The new program presented by the Central Bank of Iraq came under the guidance of the Council of Ministers,"
noting that "the objective of this system is to identify the merchant work and keep him out of any illegal transactions, which was followed by some traders in hard currency smuggling out of Iraq. "
Millionday: NOTE --- THE ??? FROM THE BANK REPRESENTATIVES WAS ALL ABOUT------------CONVERSION OPERATIONS --- OUTSIDE OF IRAQ ---- HMMM
Millionday: "the new program will put the merchant toward a clear and present it all transactions and archives will each material imported tariff code and tax Kmarkip."
Michelle pointed out that "this program has been reveled abruptly, which reflected negatively on the banks and the private sector and the public,"
pointing out that "this application was supposed to show it experimentally for a period of six months at a minimum to allow for staff and executives in banks recognize it more and be able to provide outstanding performance in this program.
Millionday: NOTE -- THIS INCLUDES ARCHIVES -- TAX WILL BE APPLIED
Millionday: NOTE -- THIS WAS SUPPOSED TO BE A TRIAL BUT ONVIOSLY HAS BEEN CHANGED BY CBI WHEN APPLIED
Millionday: And Michelle that "the program reason at the moment a big uproar from the technical aspects, and our objective was to work on the collection of all the banks and give a lecture by specialists Despite this, we can not judge the current time on the program,
but we will wait and anticipate how to work it and import of goods by importers to watch Over the positivity or negativity of the Iraqi citizen. "
Millionday: NOTE -- THEY CAN NOT TELL RIGHT NOW ITS IMPACT BUT WILL SEE IF IT IS GOOD OR BAD FOR THE IRAQIS
Millionday: In turn, the Executive Director in the general body was taxed spokesman Abdul Aoun said in an interview to the said (range Press) "We are now in the process of transmission,
the quality of the old mechanism was adopted by the central bank to entirely different from its predecessor a new mechanism and means to cover foreign goods in hard currency and finish off the conversion to ensure the Treasury rights including tax and customs guarantees and ensures later from entering the goods.
Millionday: NOTE -- A TOTAL NEW SYSTEM IS BEING TRANSMITTED AND IS ENTIRELY DIFFERENT THAN WHAT CBI HAD IN PLACE AND IT COVERS ---- FOREIGN CURRENCY
Millionday: "this mechanism, among other measures, including court proceedings electronic binding by the central bank and banks and border crossings and its General Assembly and rely on the establishment of a database.
Aoun said that "session of the Association of private banks came to overcome the obstacles and problems which naturally get because of the mechanism used previously,
and I think in the coming period if they were to work according to the program which is newly developed, they will be in a better position and will not face any obstacles but needs support and stand by everyone
Millionday: SO THE COMING PERIOD WILL HAVE THE SYSTEM APPLIED AND THEY THINK THE BANKS WILL BE BETTER OFF AND EVERYONE WILL BE ACCORDING TO THE REPORT -----
THEY ANSWERED HOW TO ADDRESS THE DUFFERENCES THAT IT BRINGS TODAY WITH BANK REPRESENTATIVES
Papatom: reading and re reading that last report.....and the questions...it looks like to me, all we have seen has been mostly to reforms and incountry changes and improvements...
with effect to international....but NOW we seem to be seeing international work that has an effect on the in country....does that make sense? the report before my question mark didn't sit level till this thought came to mind...So wadya think MD??
Millionday: I AGREE -- ALL THAT WE SEE IN THE NEWS IS ABOUT THE INTERNATIONAL CHANGES THAT ARE BEING APPLIED FOR A MARKET ECONOMY
AND THE APPLICATION OF INTERNATIONAL BUSINESS/BANKING/TRADE/DATA ENTRY ETC
Millionday: GOOD POINT PAPA
awesomedtl: when they say the coming period will be implemented is that referring to the rate? and laws
Millionday: NO -- WHEN THEY SAY THE COMING PERIOD IT IS TALKING ABOUT THE TIMELINE THEY HAVE SET FOR THESE CHANGES --
THEY HAVE BEEN REFERRING TO THE NEW PERIOD FOR MANY MANY CHANGES
jimplants: TRANSMISSION OF FUNDS THAT IS MOVEMENT NOT JUST TALK
Millionday: EXACTLY -- AND TRANSITION -- LOVE IT ---
Comments may be made at the end of Part 2 Thank You