Millionday Roundtable 5/11/15 Part 2
Welcome to dinarupdates.com for Roundtable with Millionday!!
Millionday: SO JAPAN IS THERE TO HELP REMOVE DAASH AND ALSO FOR THE DEVELOPMENT OPPORTUNITIES IN IRAQ FOR JAPAN --- SMILE
billionaire Millionday: Found something on system management from Greece. http://www.swiftcodeofbank.com/swift...ion-in-athens/
billionaire Millionday: has something to do with swift codes and intra bank settlements.
Millionday: Announced the parliamentary finance committee member Majda al-Tamimi, Monday, that the solution to the dollar crisis is not until after the amendment of the Central Bank Law.
He said al-Tamimi that "the crisis relating to the market, especially with the rise of the dollar against the dinar as well as financial liquidity, can not be controlled, but to amend the Central Bank of Iraq Law No. 94 of 2004 and in harmony with the stage Wares of the country" .
Millionday: NOTE -- THEY ARE AMENDING THE CBI LAW FROM WHEN IT WAS PUT IN PLACE IN 2004 -- WHOOOPOW
Millionday: NOTE -- AS YOU SEE HERE IT HAS ALREADY BEGUN
Millionday: It added that "the Committee supports the central bank to amend the new law, which is now in the Council of State and we are waiting send it to us for discussion and reading in the House of Representatives."
She pointed out that "the adoption of the amendment to the Law of the Central Bank will make him independent of the government in his administration,
" indicating that "the economic problems began Ttrutb result of a law conflicts with a lot of economic and financial aspects that have been developed in Iraq."
Millionday: NOTE -- OBVIOUSLY THEY HAVE MANY REASONS THAT THIS LAW NO LONGER IS APPLICABLE FOR IRAQ IN THEIR ECONOMY OR IN THEIR PLANS
Millionday: It is noteworthy that the Iraqi banking system Atkn of 54 banks, including seven state banks Islamist, one of them newly established, as well as 23 commercial banks special distributed by nine Islamic banks, and there are also 15 branches of foreign banks,’
and there are many institutions that do some banking business, including 34 money transfer and nearly 200 belonging to the banks foreign exchange company or dealing with banks with loan guarantee company and to finance small and medium enterprises with two companies for services of electronic banking and smart card company, in addition to nearly 800 branch subsidiary banks and distributed all over the governorates of Iraq.
Millionday: SO OBVIOUSLY THIS WILL INCLUDE THE SMART CARD COMPANY AND ALSO THE ELECTRONIC BANKING SERVICES -- ALONG WITH ALL INTERNATIONAL BANKING A SPECIALITY SERVICES
Imperator: Well that is most welcome!
Millionday: VERY MUCH SO -- THE CENTRAL BANK LAW CHANGING -- WHOOOPOW
Papatom: MD, it seems to me that they would have known long ago that they were going to have to write the CBI law over again.... so to me it seems like this would be one of the very last things they'd do...for privacy sake....does that make sense?
Millionday: YES AND IT SEEMS THAT THE LAW WOULD HAVE ALREADY BEEN WRITTEN AS WELL -- SMILE
Millionday: Ministry of Finance announced on Tuesday, discuss the financial crisis of Iraq with a delegation from the International Monetary Fund,
and as pointed to agree on the Fund to provide emergency financial assistance for Iraq to reduce public expenditure, confirmed talks with IMF officials to stand on the government's use of funds SDRs in budget 2015.
Millionday: The Finance Ministry said in a statement received (range Press), a copy of the "technical and detailed discussions took place yesterday, in the presence of the Minister of Finance and the Governor of the Central Bank and the Director General of the budget and general manager of public debt and general manager of the Iraqi Fund for External Development with the International Monetary Fund officials and official team Iraq in the Fund to crystallize Help Fund for Iraq in better current financial crisis.
Millionday: NOTE --HUGE MEETINGS I AM GOING TO SHOW YOU -- THIS IS ONE OF THEM
Millionday: NOTE -- THIS WAS THE BEGINNING OF THE ECONOMIC REFORM TALKS -
Millionday: The ministry said "it was agreed to by the Fund to provide emergency financial assistance within the government and Ministry of Finance plans to reduce public expenditure."
The statement continued, "The Iraqi delegation held talks later with the legal department and the Department of Accounting at the IMF officials to stand on the use of the government and the Ministry of Finance for funds SDR allocation in the 2015 budget.
Iraq complain of weak financial revenues due to lower oil prices and increased military expenditures, which side came on her head, making the government resorting to austerity as one of the solutions adopted to meet the country's economic situation started.
Millionday: The current year's budget law, committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in daily auction ceiling does not exceed 75 million, ‘
with the exercise of justice in the sale, and claim the participant in the auction the bank providing the introduction of cargo documents and data Tax settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount,
and so it applies penalties stipulated in the Central Bank Act or regulations issued it, and use other banking tools to maintain the strength of the dinar against the dollar.
Millionday: NOTE -- THIS WAS TO THE USE OF AMENDMENTS OF THE CENTRAL BANKING LAW -- AND STIPULATIONS THAT NEED TO BE APPLIED
clay: did they take the loans yet from the IMF and world banks
Millionday: NO THE LOANS ARE PART OF THE MONETARY POLICY CHANGES -- NOT THAT I KNOW OF ---- THIS IS GOING TO BE ALL AT ONCE ACCORDING TO WHAT I HAVE READ
Millionday: NOTE -- THIS IS THE MEETING THAT TOOK PLACE TO ACTIVATE THE STRATEGIC FRAMEWORK AGREEMENT WE HAVE THE LINK FOR
Millionday: Chaired by US Vice President Joe Biden and Iraqi Prime Minister Haider al-Abadi a meeting of the US-Iraqi Higher Coordination in Washington, DC today.
The two sides reaffirmed their commitment to the promotion of full activation of the strategic partnership between the United States and Iraq, as shown in the strategic framework agreement.
Millionday: NOTE -- THIS IS TO SHOW YOU HOW VERY IMPORTANT WHAT IS GOING ON IS TO THE REFORM
Millionday: Focused Supreme Coordinating Committee discussions on energy and economic cooperation issues.
The two sides agreed on the need to work together closely to get international support for immediate stability in the liberated areas of terrorist elements Daash, including through the International Finance Fund for stability to be established by the Iraqi government in collaboration with the United Nations.
Millionday: NOTE -- THE CHANGES ARE IN THE WORKS WITH THE HELP OF THE UN AND THE ACTIVATION OF THE US SFA
Millionday: US and Iraqi officials also discussed the steps that can be taken by Iraq to increase energy exports and create additional export routes from South facilities, including export pipeline through Jordan to the Red Sea.
The Vice-President Biden to the progress made by Iraq in an increase in exports in recent months, including exports, which achieved a record level during the past month.
US and Iraqi officials also discussed in detail Iraq's efforts to increase revenue and reduce expenditure and debt management, and give priority to the vital investments over the coming months and years.
Millionday: NOTE -- ALL PART OF THE HUGE AGREEMENT MADE THROUGH THE SFA -- AND ALSO THE AGREEMENT TO HELP THEM INTO THE WTO
Millionday: >>>Finally, both sides expressed their commitment to facilitate bilateral trade and continue on Iraq's accession to the WTO proceedings. This was the fifth meeting of the Higher Coordinating Committee since its inception in 2008 under the Strategic Framework Agreement.
Millionday: SMILE --
Millionday: I HAVE ONE MORE TO SHOW YOU ON WHERE WE ARE RIGHT NOW --
Millionday: REMEMBER THIS IS WITHIN THE LAST 30 DAYS OR LESS -- NOW WE ARE TO THE CBI AMENDMENT OF LAW
Millionday: DONT FORGET THIS STATEMENT >>He suggested the former deputy governor «Central» Economic Adviser to the Prime Minister the appearance of Mohammed Saleh correct path and the value of the dinar new prices in line with the economic situation faced by the country,
saying that the official price of the dinar against the dollar is unrealistic in the current circumstances.
Millionday: THIS IS WHILE THEY ARE WORKING ON THE REALITY PRICE OF THE DINAR
jarhead: so they dont think the dinar will be very high due to circumstances
Millionday: WHO DOESNT?
Millionday: NO MENTION OF THE VALUE OR PRICE GIVEN HUN
Millionday: HE DID NOT MENTION IT
Millionday: OK SO SEE EVERYONE TONIGHT AT 730 EST NEWSTIME
Millionday: GREAT TO SEE EVERYONE -- DONT MISS NEWS CANT WAIT TO SEE WHAT PARLIAMENT DID
Millionday: HAVE A BLESSED DAY AND KNOW THAT WORK IS BEING DONE