Millionday newstime 8/28/15 Part 1 of 2
WELCOME TO MILLIONDAY NEWSTIME AT DINARUPDATES.COM
Millionday: OK BRB WITH NEWS EVERYONE -- HOLD ON TO YOUR HAT
Millionday: NOTE -- PLEASE PAY VERY CLOSE ATTENTION
Millionday: Varied visions about the new policy adopted by the Ministry of Oil in the investment of oil fields that, and missed out on these visions based on an assessment of the benefits, financial and economic costs as they were focused on the political aspects of social, culture and all the debate is about the conviction to accept contracts for foreign companies to invest in Iraqi oil or not.
Millionday: NOTE -- THE NEW REFORMS WILL PRODUCE MANY OUTCOMES WITH JUST THE SLIGHTEST DEVIATION SO THEY ARE BEING VERY CAREFUL ETC
Millionday: In this regard, the academic said economist and expert d. Ahmed Narrator: that the new policy represented by the Oil Ministry to prepare rounds of competition to accept contracts organized by the ministry announced in terms of winning these contracts to invest in oil fields.
One of the main items of these contracts is the time limit required to increase production capacity for each field to determine the wages of service each produced barrel of oil. He narrator that the new oil policy, raised a lot of questions by many interested observers about the nature of these contracts.
Millionday: NOTE -- OBVIOUSLY WITH MARKET OIL MIXED WITH IRAQ ETC -- THE OPPORTUNITY IS BEING SOUGHT AFTER -- LOL
Millionday: Is it intended to increase production or are there other targets and whether there is an urgent need to actually increase production to more than four times during the a decade. Is storage system and the National Export able to export those big of Iraqi oil that will be in 2016 about 38 percent of OPEC's exports quantities if the contracts.
Millionday: Accessions: Any state or customs territory having full autonomy in the conduct of its trade policies may become a member (“accede to”) the WTO, but all WTO members must agree on the terms. This is done through the establishment of a working party of WTO members and through a process of negotiations.
Accessions in progress:
> Bosnia and Herzegovina
> Equatorial Guinea
Millionday: NOTE -- REALIZE THAT THIS IS WHAT THAT SO CALLED REPORT WAS BROUGHT FROM SO IT IS NOT NEW -- THIS IS FOR THOSE THAT READ IT AND WERE ASKING QUESTIONS --
Millionday: THE CURRENCY /PRICING POLICIES THROUGH THE WTO ARE MORE DEMANDING IMO THAN THE INTERNATIONAL AS A WHOLE
Bax: How close do you believe Iraq is to WTO? Your Opinion...
Millionday: I THINK THEY ARE VERY CLOSE IMO -- I PERSONALLY AM THINKING THAT THEY WILL BE MOVING STATUS WITH REFORMS TO ENSURE PRODUCT CONFIDENCE AND TRADE AGREEMENTS ETC THAT WOULD HELP OF COURSE AND AS WE KNOW OBSERVER STATUS IS JUST THAT SO NOT REVENUE PRODUCTION TO SAY THE LEAST
Millionday: THIS REPORT IS VERY INFORMATIVE AND WE CAN EXPECT MANY TO BE AT THIS POINT WITH DEMONSTRATIONS AND EXPLANATIONS
Millionday: NOTE -- THEY HAVE FOUND A COUPLE WAYS THAT DINAR IS BEING SHIPPED OUT OF THE COUNTRY -- HUGE DUE TO THE SIZE OF THE PROBLEM
Millionday: NOTE -- PRESS STATEMENT
Millionday: Kaabi said in a press statement: that «the reason for the continuation of the phenomenon of currency smuggling in some private banks, is delegated some traders and shops to sell and buy the currency from the central bank without bidding farewell to one bill under the pretext of importing children's toys or construction materials monstrous proportions ».
He pointed out that some private banks are trading foreign currency and conflicts within the local markets, and seeking cross to collect huge sums of money to be smuggled out of the country.
Millionday: NOTE -- SOUNDS LIKE THE MOB FROM YEARS AGO MOVIES LOL
Millionday: The parliamentary finance committee, it has hosted the Finance Minister Hoshyar Zebari and Governor of the Central Bank on the Keywords, to discuss the spread of the phenomenon of money smuggling abroad and washed outside legal contexts that affect the national economy.
As fingered directed towards banks eligibility with the help of smugglers of hard currency in it, «private banks» Association confirmed that it is working with the Central Bank of the strategy for evaluating the work of those banks by putting under the «pre-emptive censorship».,
Millionday: , said Executive Director »Association of private banks» Ali Tariq vacationer Commenting on this topic: «can bank or two influence in the banking sector as a whole in the event of a suspicion in their work and this is what happened during the last term», adding that «the question of reputation in a very important banking sector».
He explained vacationer in a statement »Sabah» that his association «working with the bank Central to the strategy for evaluating the work of these banks across the monitor, where there is control over the bank process before entering the problematic, especially given that the difficult situation in the country until the private banks because, like the rest of the sectors that have been affected ».
Millionday: NOTE -- THE BANKS HAVE BEEN INSTRUCTED TO TAKE THEIR ROLES IN DEVELOPMENT AS TRAINED AND INSTRUCTED UNDER CBI SO NOW THEY ARE WORKING WITH REGULATIONS ETC -
Millionday: CONFIDENCE WILL DEVELOP IF THEY FOLLOW ALL IN PLACE -- AND IT WORKS SMILE
Millionday: Head of Banking Association, pointed out that the central bank supports private banks at this stage, following the lack of financial liquidity experienced by some of those banks, they returned that support «an important issue, can restore the confidence of citizens in banks and special». He called vacationer to speed in a statutory declaration «guarantee deposit» and »anti-money laundering» .
Millionday: NOTE -- THEY ARE ACTUALLY CALLING FOR THE REGULATIONS TO BE RUSHED SO CONFIDENCE (AS WE WERE JUST SAYING) CAN BE RESTORED
Millionday: As it will enable the first of «guarantee deposits of citizens with private banks across the company to guarantee deposits in order to restore the confidence of the citizens of these banks, while money laundering law will give confidence by international banks Iraqi counterpart classified within the gray area».
The smuggling of foreign currency operations, international crime have a direct connection to the activities of illegal sector works in secret which is known as the economy of the shadow or gray economy. Executive Director of the Association mentioned, demanded the establishment of «strategic partnership between the government and private banks, through which a greater role for the latter on the subject of economic development», adding that
Millionday: NOTE -- THE RUSHED LEGISLATION WILL ENABLE INSURED DEPOSITS (LIKE FDIC) TO BEGIN -- HUGE HUGE -- WHOOPOW
Swan2013: that is huge!!!
Millionday: «the amount of dinars trillion granted to private banks in accordance with specific mechanisms, a great indicator of the government's confidence that banks ». He concluded vacationer his statement, saying:«
All these measures can restore private banks to be part of the economic system and the development process in Iraq, and therefore, the government's confidence would give an indication of the citizen that these banks are the subject of trust and confidence »
It is said that the Ministry of Finance, had told the committee« money »in Parliament, that the money laundering and smuggling process affects the low reserves of the Central Bank of hard currency, saying that a number of private banks are covering up that the washing process through financial transfers out of the country.
Millionday: In light of this, a committee was formed to follow up this worrying phenomenon and verification, including members of the parliamentary Economic Committee, Ministry of Finance, in addition to the General Administration of Customs and taxes.
The Commission has already mentioned the follow-up work of the Central Bank and the quantities sold funds, in addition to the follow-up work of the government and private banks that sell large numbers of the dollar.
Millionday: SO THEY WILL BE LIQUIDATING SOME OF THE DOLLAR AND OBVIOUSLY ARE MOVING FORWARD WITH THE NEW LEGISLATION THEY NEED FOR THE REFORMS
Millionday: END OF GREAT REPORT -- THIS IS PAINTING A GREAT PICTURE
Comments may be made at the end of Part 2 Thank You