Millionday News 7/10/15 Part 1 of 2
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: WELCOME TO NEWSTIME
Millionday: LET ME START BY A SUMMARY OF THE LAST COUPLE DAYS
Millionday: THE KURDS AND IRAQI FEDERAL HAVE AGREED ON OIL AGREEMENT AND --
Millionday: CBI HAS STATED THAT THEY WILL BEGIN PAYMENT OF GOV EMPLOYEES IN THE NEXT COUPLE DAYS AND THEY ARE READY WITH FUNDS AND THE PROCESS TO BEGIN THE LOANS FOR PROJECTS IN THE NEXT COUPLE DAYS --
Millionday: SO FUNDING WILL BEGIN THAT WOULD BE BUDGETED FOR IN THE NEXT FEW DAYS
Millionday: HERE WE GO WITH MORE INK --
Millionday: NOTE -- REMEMBER THAT IRAQ IS WORKING PER REPORTS UNDER ISLAMIC BANKING LAWS
Millionday: The joy of pumice within government orientations aimed to promote investment opportunities, encouraged the Director General of Mesopotamia Islamic Bank Abdul Hussein Mundhiri the concerned authorities to issue Islamic bonds in exchange for generating investment projects for profit, working on according to the law prescribed.
Millionday: NOTE -- ISLAMIC BONDS FOR INVESTORS
Millionday: House of Representatives. The the principle of Islamic instruments to participate in the "finance" the project or invest long or short-term, any participation in the profit and loss,
which is equal to what is known globally in trade, finance and companies, "stock" system, support infrastructure projects with the provision of the necessary liquidity to finance, as well as ability to meet cover the fiscal deficit and the provision of term stable conversion long.
Millionday: NOTE - NOT ONLY THE BONDS WE HAVE READ ABOUT ALREADY BUT ALSO ISLAMIC BONDS FOR INVESTMENT -- HOWEVER -- THROUGH THE MARKET ACCORDING TO REPORT -- WHOOOPOW
Millionday: He Mundhiri in his statement the "morning" that he formed a committee to study this issue and come up with a draft for the issuance of Islamic bonds submitted a proposal to the central bank for them, was also considered by the Securities Commission,
where issued its approval to the draft to satisfy the conditions, as sent to the legitimacy of the bodies of the three Islamic banks to study them and to express an opinion on the extent of legality and legitimacy is to be held on the basis of which a meeting to consider the amended version, working the issuance of instructions by the central bank to ensure the application speed.
Millionday: NOTE -- AGAIN WE SEE THE NEED FOR SPEED IN THE BOND ISSUE ---(APPLICATION SPEED)
Millionday: Iraq has a bank Islamist government and one only, and 7 Islamic private banks, as well as the opening of an Islamic Gulf Bank (Abu Dhabi Islamic Bank).
and said Mundhiri that the Islamic instruments issued in exchange for investment projects "profitable" and include tax and customs exemptions, stressing the need for legislation by a special law in this area and not instructions and that to the intersection with tax and customs laws,
besides that the investor does not function according to instructions, but looking for a legal cover ensures the rights of investment projects, he said.
Millionday: NOTE -- THEY STATED TODAY THAT THEY WERE WORRIED ABOUT THE RELEASE OF TARIFF TAXATION NEXT MONTH AND THE IMPORTS ETC DUE TO THE DAASH FEAR AT THE PORTS –
SO THEY CONFIRM THE PLAN OF RELEASE OF TARIFF THE FIRST OF AUGUST STILL -- SMILE
Millionday: NOTE -- THEY ARE ASKING FOR A LAW TO INVEST REVENUES GAINED FROM THE BONDS AND THEIR INVESTMENT AS WELL
Millionday: He said the Islamic Sukuk is trading between the money of depositors, investors and money end banks including developmental support the infrastructure of the States, a a more than 7 are all kinds of investment, pointing to the possibility issued by the Ministry of Finance and not the central bank, as in some countries.
has issued this type of instruments in several Muslim countries, including Malaysia and the GCC, Iran, Pakistan, Sudan and in non-Islamic countries, including Britain and Japan and Germany and the State of Texas, US, where the financing needs of projects in the GCC countries was estimated at $ 800 billion until 2017, as the total instruments estimated in 2015 at $ 3 trillion dollars.
Millionday: NOTE -- THE BONDS HAVE BEEN RELEASED IN THIS WAY IN MANY OTHER AREAS INCLUDING ACCORDING TO THIS -- TEXAS
Millionday: Islamic funds and the country's need for these trends in the investment process to support the establishment of enterprises, is mired legislation long periods to be issued, Mundhiri praised the work of Islamic investment funds operate idea of Islamic Sukuk itself be solutions to ensure speed in the establishment of projects, working time duration of 1 year to 3 years, contrary to the instruments of the Islamic running 5 years upwards.
He said the possibility of Islamic Mesopotamia Bank establishment of this fund and that for his work on in accordance with the law and not instructions, adding that these trends support the coverage of the annual investment budget, whether in boxes or Islamic bonds,
and in particular it is working against the generating investment projects for-profit called the "Islamic bonds generating profit", which does not contain a specific interest, but subject to profit and loss, also contribute to the financing of the general budget indirectly.
Millionday: NOTE -- THEY ARE DISCUSSING USING THESE FUNDS FOR GOV PROJECT INVESTMENTS
Millionday: NOTE -- HERE IS A GREAT DESCRIPTION
Millionday: Characteristics of Islamic instruments The Islamic instruments properties that it is based on the principle of participation in the profit and loss, as it is a document issued on behalf of the owner of equal value, which are issued and traded in accordance with the conditions and controls legitimacy, as well as categories It represents a common share in the ownership of assets or benefits or services.
Millionday: NOTE -- THE BUYER HAS THE RISK OF LOSS AND GAIN IN THE PROJECTS ACCORDING TO THIS -- AS IN HAVING A SHARE IN THE PROJECT ETC
Millionday: it is also characterized by these instruments to provide quick cash, a few risks for the investor to being able to sell them to a third party if they felt his loss, as he is a partner in the parent,
whether a gain or loss, but does not represent our Source, along with its ability to fiscal deficit for governments or projects cover.
The development of instruments market of $ 500 million in 2001 even amounted to about $ 31 billion by the end of 2006, according to the Dubai Financial Market, for its part, sees Moody's Global Credit Rating Company volume growth in versions instruments may range between 30-35 percent annually.
Millionday: SO THESE ARE OPPORTUNITIES THROUGHOUT THE ISLAMIC INVESTMENTS -- HUGE NEWS
daytrader: All of these funds are directed at investments. They can't seem to pay their operating costs, so where do those funds come from?
daytrader: Meaning when are they going to open the budget?
Millionday: ACCORDING TO WHAT THIS REPORT IS SAYING -- THE FUNDS COME FROM THE INVESTOR OF THE BONDS AND THE PROFITS THEY CREATE WITH THE INVESTMENT ITSELF
Millionday: THE ANNOUNCEMENTS OF ALL THE PAYMENTS ETC COMING IN THE NEXT FEW DAYS ARE ALL FUNDS BUDGETED FOR
Millionday: SO WITH THE CBI ANNOUNCEMENT THAT THEY ARE READY -- VERY INTERESTING TO WATCH ACCORDING TO THAT
jarhead: what do the investors receive in return
jarhead: maturity of bonds?
Millionday: ACCORDING TO THIS THEY RECEIVE A SHARE IN THE PROJECT OR MATURITY WITH THE OTHER BONDS -- IT WILL DEPEND ON THE PREPARED LAW THEY REQUEST
Millionday: THEY ARE ABLE TO SELL THE BONDS AS WELL -- SO VERY INTERESTING TO SEE -- THE FINISHED PROJECT WILL TELL MORE ON THE BONDS (I AM NOT AN EXPERT)
Millionday: THIS WAS A REPORT I SAVED FROM THE FIRST MENTION I SAW FOR THE 2015 BUDGET --
Millionday: I AM JUST SHOWING YOU THE PART ABOUT THE EXPECTED FOR THIS YEAR
Millionday: The Finance Committee has announced that the 2015 budget will be increased by 157 trillion and 285 billion dinars
Said committee member Magda Tamimi in an earlier statement to the reporter / JD / he was forming a committee to prepare a budget strategy for the coming years,
including the budget 2015 will be the total revenues have increased by 157 trillion and 285 billion dinars, while it will be the total expenditure of $ 168 trillion and 837 billion.
Millionday: She added that the deficit in the budget year will be mentioned by 11 trillion and 552 billion, noting that he will be calculated per barrel of oil at $ 90 in quantities of oil source is estimated at 3.85 million barrels per day.
And alerted Tamimi that calculating the exchange rate of the dollar will be increased by 1.16 dinars, pointing out that the Commission had not received the report of a central location around the dinar exchange rate against the dollar, prompting the Commission to adopt the exchange rate on previous years and such a thing is not permitted at all.
Millionday: SO THEY PREPARED ACCORDING TO THIS REPORT TO MAKE ECONOMIC CHANGES IN THIS YEAR`S BUDGET
quicktolegit96: SO WHEN THEY RELEASE THE BUDGET, IT MAY OR MAY NOT HAVE 1.16....IS THERE A CERTAIN AMOUNT OF TIME IN HRS BEFORE WE SEE THAT BUDGET ONCE IT IS OPENED? TY IN ADVANCE
Millionday: NO -- NOT THAT I WOULD KNOW OF BUT IT WILL BE OBVIOUS FOR IRAQ –
WE WILL OF COURSE BE LOOKING FOR INK SO TIMELINES WOULD IMPACT OPENING OF BUDGET NEWS –
ANY FORMAL CHANGE THAT WOULD OCCUR IN THE VALUE AND THE INTERNATIONAL RATES WOULD SHOW WHERE YOU FIND THEM NOW AND IN THE MARKET --CBI -- BANKS ETC
CanTWaitwoRV: to add to quicklogic....if by chance the bonds carry over and or funds are not released on time in addition to the laws not being implemented as of yet it feels like the elephant in the room could be that elusive rate to implement and take action possible..I guess more of a comment...but that's what I'm glued to seeing
CanTWaitwoRV: when we hit August think there will most likely be a new game of traction if it turns out that way
Millionday: GOOD POINT --
Millionday: WE ALL FEEL THE ELEPHANT
Millionday: HERE IS THE RUSH THAT IRAQ IS FEELING
Millionday: NOTE -- I JUST SHOWED YOU YESTERDAY THAT ERBIL STATED THAT THEY AGREED WITH THE OIL AGREEMENT
Millionday: Committee announced its oil and parliamentary power, on Friday, sending request "urgent" for the Speaker of the House for a meeting between officials from the Kurdistan Regional Government and the federal government in the presence of representatives of the parliamentary parties to activate the oil agreement between the two sides,
indicating that the region did not oil delivered since the beginning of July of the current company Iraqi Marketing Organisation (SOMO), while the Kurdistan Alliance welcomed the proposal, stressing the need for dialogue to resolve the issue.
Millionday: NOTE -- URGENT TO ACTIVATE THE OIL AGREEMENT MADE YESTERDAY AND THE CALL FOR MEETING TO DO THAT AND PRESENT PROCESS -- WHOOPOW
Millionday: NOTE -- LOOK AT WHEN
Millionday: A member of the Committee, Ibrahim Bahr al-Ulum, said in an interview to the (long-Presse), said that "for the Oil and Energy Committee in the Parliament met three days ago to discuss the crisis between the federal government and the Kurdistan region,"
adding that "the region has stopped oil deliveries to SOMO since the first of July present, which means breach of the agreement with the federal government. "
He Bahr al-Ulum, that "the Commission sent an urgent request to the President of the House of Representatives, Saleem al-Jubouri, a meeting attended by both the minister of oil and finance Alathadian, as well as their counterparts in the region,
with the presence of a third party to monitor the agreement of the committees of the oil and energy in the federal and Kurdistan parliaments," expected "The meeting takes place ahead of the Eid al-Fitr, which solves the end of next week."
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