Millionday News 7/11/15 Part 1 of 2
Welcome to dinarupdates.com for News Time with Millionday!!
Millionday: Parliamentary Finance Committee endorsed the issuance of currency new high categories, pointing out that this process will contribute to the revitalization of the Iraqi economy and reduce dependence on foreign currency,
while stressed economist, said the central bank introduced a currency new procedure Saeb very help in raising the efficiency of the payments system and shortcut the amount of cash in circulation.
member of the Finance Committee Jabbar Abdul Khaliq said, a statement singled out the "morning", that "the issuance of currency large category will reduce dependence on hard currencies in economic activities," pointing out that "one of the solutions proposed by the central bank to reduce the differences between that dinar and the dollar. "
Millionday: PARL HAS ENDORSED THE NEW CURRENCY
Millionday: THE ISSUANCE OF NEW DENOMINATIONS ACCORDING TO REPORT
Millionday: NOTE -- THIS IS TO RAISE THE DEPENDENCE ON DINAR
Millionday: READ EVERY WORD >>>He said Abdul Khaliq that "Iraq's reserves of foreign and local currency enable Iraq to issue new coins and large groups,"
noting that the recent meeting between the Finance Committee and the Governor of the Central Bank was on the oscillation winning Iraqi currency against the dollar and the main solutions adopted by the Central Bank in order to reduce the difference. "
Millionday: NOTE -- TO REDUCE THE DIFFERENCE >> Governor of the Central Bank was on the oscillation winning Iraqi currency against the dollar and the main solutions adopted by the Central Bank in order to reduce the difference. "
Millionday: and on the draft raise zeros from the currency, Abdul Khaliq pointed out that "the project could not be implemented at this time because of the economic, political and security situation that prevailed in the country,"
noting that "the proposed thoughtful but is waiting execution time and the central bank is It specifies that ". While counting the Finance Committee member Sarhan Sylvana decision of the Central Bank issued 50 thousand class end of the year, as the recovery of the Iraqi economy.
Millionday: NOTE -- CENTRAL BANK SPECIFIES THE TIME
Millionday: He explained Sylvana, a press statement, that "the issuance of a new class of Iraqi currency requires the presence of the assigned bank reserves Central foreign currency ", stressing that the central bank reserves at the moment, according to what the governor of the bank on the Keywords, enough for the issuance of class 50 000 dinars".
On a related matter, said economist Majid picture: that a central bank issuing the currency of the class 50 thousand dinars and 100 thousand dinars a very true and does not harm the economy of the picture Alsoq.ooodh "morning", that "this procedure the system of payments where helps to raise the efficiency of the payments system and shorten the amount of cash in circulation,
Millionday: NOTE -- SO WHY WOULD THEY BE GETTING RID OF US DOLLAR SO FAST ?
Millionday: NOTE -- PARLIAMENT APPROVED ISSUANCE OF NEW CURRENCY -- THAT IS WHAT THEY HAVE TO DO --CBI HAS INDEPENDENT JOB
Millionday: asserting that "the issuance of a large currency denominations will not lead to any inflation in the market. "
Suri said, "The government asks for large amounts, and instead of being small payment currency will be the big currencies," noting that the move does not mean increasing the trading currency, but the process of replacing banknotes and other papers. "
Millionday: SO AS WE SEE -- VERY STRANGE EXPLANATION DUE TO MARKET GOALS -- BUT NEW CURRENCY WILL BE RELEASED -- VERY INTERESTING REPORT
jd: If they release the 50K and 100K notes wont we be in this for a longer time frame??
Millionday: I DONT KNOW -- THEY HAVE REPORTED IN STATEMENTS THAT THEY WOULD RELEASE LARGE DENOMS FOR STRATEGIC REASONS IN THE PAST -- I WOULD NOT EXPECT THE MARKET PLANS TO BE ANNOUNCED IN FULL --
Millionday: THE HUGE PART OF THIS REPORT IS THE SIGNING OF RELEASE FOR NEW CURRENCY -- CBI CONTROLS THE REST
wvchsr19: I thought they were going to release the 50k note this month? not at the end of the year
Millionday: THEY WERE SAYING THAT THEY DECIDED ON IT AT THE END OF YEAR NOT THAT THEY WILL RELEASE AT END OF YEAR
Millionday: LAST YEAR ACCORDING TO WHAT I REMEMBER AND SEE
buck: at one time we read about distribution of lower denominations, any idea what became of them???? they working both ends lol
Millionday: THEY SEEM TO NOT BE DISCUSSING THEM NOW -- EVEN THOUGH WE READ ABOUT THEM BEING DESIGNED ETC -- VERY INTERESTING TO SEE WHAT THEY DO
CanTWaitwoRV: I might not say this correctly..but legend has it that altho CBI has a green light that they wanted to get parl on the same page before they flip the switch...will be interesting if this is what this article is bringing about
CanTWaitwoRV: guess time will tell
Millionday: WE WILL HAVE TO WATCH
Millionday: Hussein al-Tamimi Tgb a number of necessary measures required by the process of the advancement of industrial production in Iraq to get to the effective and real economic development in the forefront of communication with the international effort specialist and encourage large investments (depending on who specializes in economic affairs).
Deputy Economic Prime Baghdad forum on behalf of Jamil Antoine said the development of the joints of production necessary to achieve sustainable development, especially in the industrial sector,
which is the axis starting to activate the production and its association with all other sectors, pointing out that the local industrial products achieved significant economic of the country feasibility through capital preservation cycle within the local market.
Millionday: NOTE -- THEY ARE SAYING THAT THE ACTIVATION OF THEIR INDUSTRY REQUIRES LARGE INVESTMENTS -- AND THEY ARE RELIANT ON MANUFACTURING FOR IRAQ`S DEVELOPMENT --
Millionday: NOTE -- THEY ARE IN THE PROCESS OF ADVANCING THE INDUSTRY -- WHOOPOW
Millionday: He said in an interview for " morning "that encourage large investments industries and facilitate their work an urgent need at this stage, indicating that encourage the cement industry,
for example, helps to attract other investors, and to provide protection for plants cement and construction materials and activating the role of the Central Agency for Standardization and quality control and control of all border crossings is from incentives this task Industry,
in a time when Iraq needs a construction revolution require the provision of large amounts of cement, he underlined the importance of issuing legislation with instructions Kmarkip contribute to improve product quality and reduce costs to compete.
Millionday: NOTE -- ANOTHER URGENT NEED AT THE STAGE THEY ARE AT -- SMILE
Millionday: NOTE -- THE NEED FOR CEMENT LOGICALLY TELLS US THIS IS FOR THE DEVELOPMENT AND REBUILD ETC FOR IRAQ PROJECTS
Millionday: suffer the industrial sector marginalization for decades and led to the decline of local industry to low levels and become its contribution to the gross domestic product almost non-existent.
Antoine urged to allow advanced production lines and according to international standards adopted and contracting privileges quality with well-known to raise the qualitative production global brands the level of international companies,
as well as the allocation of industrial land for projects advanced by the Urban Planning for each city and then titling these lands during the time period of 10-15 years and activating Doraltqaas and quality control.
Millionday: NOTE -- THIS IS GREAT -- THEY ARE ATTRACTING INTERNATIONAL INVESTMENT FOR PRODUCTS OF IRAQ AND GLOBAL –
THEY ALSO ARE ACTIVATING INTERNATIONAL COMPLIANCE FOR THE PRODUCTION AND THE ALLOCATION OF LAND -- HUGE MOVE AFTER ALL THIS TIME --
Millionday: NOTE -- I LOVE THAT THIS IS URGENT -- SMILE -- GREAT FOR IRAQ
Millionday: He pointed to the importance of the legislation law to ensure industrial lands and facilitate the access of companies on them, as well as the activation of paragraph 33 of the Investment Law No. 13 of 2006 to encourage international companies and the private sector to enter joint investments and work to attract foreign investment.
Millionday: NOTE -- as well as the activation of paragraph 33 of the Investment Law No. 13 of 2006 to encourage international companies and the private sector to enter joint investments and work to attract foreign investment.-- ACTIVATION OF INTERNATIONAL INVESTMENT LAW
Millionday: Action syndicated credit governor with Industrial Bank and private banks through allocations of important annual budget, according to Antoine, who stressed the need to develop and modernize the mixed sector and the expansion of his contributions and the simplification of procedures by issuing legislation and amend the instructions that permit and the issuance of legislation and move the business organizations to speed up the urge its members to search for local funds and foreign investment capital.
Millionday: NOTE -- DUE TO URGENCY -- HE STRESSES THE NEED TO SIMPLIFY THE PROMOTION PORTION OF THE LAW FOR INTERNATIONAL INVESTMENT
Millionday: He focused on the activation and expansion of the free zones existing, new and considered an important pillar of the Iraqi economy as well as the allocation of land and make a serious study in the field of infrastructure projects
and the establishment of a border laboratories with the independence of the departments of these centers and revitalization of border points have and build private stores and the expansion of the legislation with the laws of the independence in the management
Aharh.antoan areas pointed in his speech to the importance of expanding the role of agro-industries in terms of feed (Fish, ruminants, poultry) including green concentrated feed in sustainable development by giving greater facilities to producers of feed industrialists
to fill the need for these projects and the large number of feed plants manufacturers require the submission of comparative advantages for these projects with instructions
and special legislation encouraging her and went private sector to invest in it, especially machinery, tools and equipment for these projects.
Millionday: NOTE -- HE IS TALKING ABOUT THE OPENING OF FREE ZONES TO DEVELOP IRAQ`S ECONOMY
Millionday: NOTE -- THESE ARE AREAS OF THEIR MANUFACTURING/INDUSTRY
Millionday: and demanded inclusion of industrial projects to obtain hard currency at the official rate of the banks and the central bank especially for Raw Materials and machinery and equipment for the opening credits, because it is stable and fixed projects and the issuance of instructions specific to determine the materials that go into the industry only from raw materials, machinery and equipment for the project.
Millionday: NOTE -- THEY NEED INVESTMENT
Millionday: It is also suggested the sale of raw materials and fuel to the private sector industry at a reduced price and provide actual them of fuel needed, as well as the issuance of instructions to the departments concerned official books of industrial development is taken out in the state departments and determine the need for industrial projects of this material and at the discretion of the project need of industrial development or the Federation of Industries.
Millionday: NOTE -- THEY ARE ASKING FOR DATA ENTRY AND BOOKKEEPING FOR ALL PROJECTS (INSTRUCTIONS)
Millionday: Antoine between that facilitate the entry of technical manpower and experts to Iraq to the industrial sector and the granting of entry and residence without delay attributes for the purpose of installation and operation of factories Modern should be of interest to those responsible and not to delay,
and to be giving instructions to the relevant authorities identify the project need for labor and technical experts in advance without disrupting.
He stressed the importance of subjecting all goods entering Iraq to customs duties of competition Iraqi production of products especially high quality and allowing export surplus of local product and simplification of procedures in the export and to facilitate the granting of export license.
Comments may be made at the end of Part 2 Thank You