Welcome to dinarupdates.com Millionday News Post By Rudie Part 1
[millionday] The recommendations of the government and the formation of a parliamentary supreme body of the banking reform with the aim of establishing a sound banking supports and contributes to the economic growth in Iraq,
called on the Finance Committee in the House of Representatives after consultations with government agencies, especially the formation of a supreme body to reform banking with finding a legislative environment that a bank will allow the development of banks in line with the current developments and future.
[millionday] note -- parliament Supreme committee for the banking reform -- love it
[millionday] smile >>> The report, prepared by the Finance Committee on the requirements for reform of the banking system in Iraq and submitted to the Council of Ministers and the competent authorities 0.24 recommendation for the development of the reality of public and private banks.
Read More Link On Right
controlled banking According to the report, obtained by the "morning", the Committee urged the formation of a body to oversee and control of banking institutions Banking and Finance will be linked to the House of Representatives,
[millionday] with the amendment of the law banks present to ensure the use of definitions and expressions legal legal language clear, and modify the provisions of the Banking Act No. 94 of 2004 in line with the nature of banking activity,
specifically materials that have prevented banks from exercising investment activities, which are at the heart of its work , as well as reconsidering the amendment of laws related to monetary policy as law firms, securities and investment.
[millionday] wow --- this is great -- the reality of the country and also the laws in place for the monetary policy nice
[millionday] the Finance Committee, headed by MP Haider al-Abadi has recently held a seminar with the participation of a number of managers of state-owned banks, experts and specialists in the banking sector and representatives of the Iraqi Central Bank to view the final report of the Committee on Requirements reform of the banking system in Iraq,
as Abadi said that the Finance Committee has embarked on the preparation of the report three years ago, after the use of international experts and interested in the work of the banks from the private and public sectors.
[millionday] so this is a committee for the actual banking reform plan -- very nice
[millionday] firm to guarantee deposits as recommended by the Commission deciding to set up a company to guarantee deposits in private banks as well as setting up a company to ensure credit and the creation of a central fund to finance private banks to cover the financing of development projects in accordance with the terms and conditions of a special partnership between the government and private banks, as well as the enactment of Islamic banking with giving the right of Islamic banks to own movable and immovable property and
[millionday] sell it and invest and leasing and renting, including reclamation of land owned and leased and prepared for agriculture, industry and tourism and housing.
called the report (which came with 76 pages) to the importance of encouraging banks to open more branches and offices of banking in the various governorates of Iraq to increase density banking, and put forward a plan to achieve mergers between private banks to create a banking units large size can occupy space is important of the banking community.
[millionday] this report is huge but i am going to keep bring it because it shows what is going on and where we are and what they are doing now
[millionday] banks specialist confirmed the necessity of activating the role of government banks specialized (industrial, agricultural and real estate) and the transfer of functions from banks inclusive to banks specialized on according to the goals it was created to accelerate the development process,
and activating the work of private banks to employ the liquidity of large financial in providing credit and increasing their contribution to the development of economic sectors,
and increasing amounts of credit to the private sector banks and allow them to accept deposits from the government and the acceptance of instruments drawn by the government departments.
[millionday] note -- this appears as we expected to see it all at once so to see that they are expediting all of this = have to love it
[millionday] To ensure keep up with developments, the report called for the introduction of modern methods of banking principles like the destruction and credit cards and modernize the banking business in line with the technological advances globally and linking banks to a single network makes it easy to drag and filing. Committee also recommended to facilitate the procedures for the opening of branches of foreign banks and remove the complexities of government departments,
and activating the role of the Union and the Association of Iraqi banks, with the diversification of products and services for the banking sector, develop and create new products, and promote the concept of (administration Quality) and
[millionday] note -- notice they are speaking of the work the committee is getting done -- and recommending -- as we know the foreign banking and banks -- with reality are all things we are watching -- and they are recommending that they move ahead fast with it all
[millionday] integrated into the banking operations represented by the planning, implementation and ongoing development of quality management systems to work according to international standards.
training centers urged report also to build a broad base of leaders qualified and trained capable leadership and management of the banks in the directions that ensure their growth and development and its interaction with the shifts and developments in the banking industry Modern,
in addition to the development of training centers banking, including working on the development of capabilities banking in Iraq and
[millionday] note -- all training being expanded on for international compliance and the country development
[millionday] to provide research and studies can be for all banks the right to take advantage of these centers to build the capacity of employees or who wish to work in banks in both the public and private sectors. order to access the world, confirmed the importance of the application of best practices and international standards in order to achieve greater integration between the economy and reform at all levels through the application of the Basel 1-2-3 and work to develop legislation to be applied.
[millionday] now they have announced that they are ready and compliant according to Basel Standards but this of course is the application as we see ---
[millionday] huge progress they are working on -- whoooop whoooop
[millionday] the Basel compliance is the international standards that have been applied for all countries to require certain standards in banking -- so very nice
[Danalivin4HIM] If this is an application does it have to be approved? or is this applying the application?
[poppy3] millionday THANKS SO MUCH . ALL THESE DETAILED REPORTS AND MOST OF THESE ARE RESULTS OF THE REPORT I HAD ON THE CC THE OTHER NIGHT .
MANY OF THESE BANKING LAWS WILL BE ACTIVATED UPON THE APPROVAL OF THE BUDGET AND IT APEARS THE RV WILL BE VERY CLOSE TO ALL THESE LAWS BEING ACTIVATED.
BLESS YOU FOR YOUR WORK AND CLARIFING ALL THE DETAILS .
YOU ARE A GEM AND I HOPE ALL OUR MEMBER REALIZE
I WAS ONLY GIVEN A BRIEF OVERVIEW OF WHAT WAS AGREED ON BY ALL OF THEM INCLUDING THE DELIGATION OF THE UNITED NATIONS.
HOW SPRCIAL THEY ARE TO BE GETTING THESE DETAILED REPORTS I KNOW I AM. BLESSING FROM ON HIGH POPPY3
[millionday] this is as beautiful as it is -- to expedite the application and reform a committee made up of parliament and finance
[tourman] Danalivin4HIM applying international standards
[millionday] poppy3 thank you hun
[millionday] tourman yes right -- they have the regulations stated and the training etc done with this Basel compliance so now they will certify it and have it clarified as they apply
[quicktolegit96] operative word DONE
[millionday] this will make them listed on the bank of international settlements as they apply and also activate the economic banking and economic reform as we stated before -- all at once --ingenious
[millionday] nice !! smile
[poppy3] dinar dave THEY HAVE MORE NATURAL GAS THAN ANY OTHER COUNTRY AND SHELL IS BUILDING A 8FT PIPELINE AT PRESENT TO RUSSIA. ‘
ALSO THEY PRIOR TO THE WAR WHERE THIRD IN AGRICULTURE WORLD WIDE. THEY SOIL WILL PRODUCE 5 TIMES MORE PER ACRE THAN ANYWHERE IN THE WORLD..
REMEMBER THIS WAS THE SITE OF THE GARDEN OF EDEN. POPPY3 DINNER READY.
THEN GOING TO WATCH THE DAYTONA 500 IT STARTS AT 8:00 PM ON FOX.
[awesomedtl] Md ya really think they are in a hurry??
[quicktolegit96] March looks promising
[Danalivin4HIM] millionday millionday thank you
[millionday] awesomedtl oh yes i do
[tourman] poppy3 wow thx!
[millionday] they are stuck
[awesomedtl] I'm stuck also* *
[tourman] millionday ? when ready
[millionday] go ahead hun awesomedtl lol
[dovi] poppy3 poppy3 thank you! ! ! !
[naphtali] md ??
[tourman] are all the banks in country have to be Basel compliant right?
[millionday] tbob yes they have to grow to have jobs added
[poppy3] quicktolegit96 FEB ISN'T OVER YET DONT WISH OUR LIVE AWAY. POSSIBLE ANYTIME FOR SURE. POPPY3
[millionday] tourman no -- just the international
[swan2013] poppy3 amen to that!!!
[tbob] millionday ahh thx
[awesomedtl] Poppy knuckle bumps hope ur right
[tourman] millionday what I thought. thx* *
[quicktolegit96] poppy3 i like the way you think sir!!!
[millionday] private banks i dont believe have to be compliant at this time it is a choice
[dovi] poppy3 great! ! !
[millionday] for the country
[tbob] millionday naphtali md ??
[millionday] ok did i get everyone
[naphtali] was reading chat earlier today that was talking about the elections? that seems to be ?? on timeline
[millionday] tbob sure go ahead
[radronin] ?? Is the US Basel III compliant?? Just curious.
[tbob] no Naphtali
[millionday] naphtali yes april
[naphtali] tied at all to RV??
[millionday] radronin and Basel II depending on what the bank`s roll is
[radronin] TY Md-!!
[quicktolegit96] naphtali politically for m, yes
[tbob] any more questions?
[millionday] naphtali it will get votes for the jobs it creates etc but other than that -- just political and constitution compliance
[naphtali] was reading chat earlier today that was talking about the elections? that seems to be ?? on timeline tHX
[millionday] yw all the time ok brb with more thanks poppy smile
[millionday] here we go >>> this is so ridicules -- someone needs to have a driving service to pick these people up >> scheduled to hold the Presidency of the Council of Representatives today held a meeting with the heads and representatives of parliamentary blocs to discuss the draft budget bill for 2014 at the invitation of President of the Council Osama Najafi,
amid leak news about the existence of a preliminary agreement on the inclusion of the budget law on the agenda of Tuesday's session to read the first reading, even in the event of a mismatch blocks and a lack of quorum.
These developments come after the failure of Parliament for the third time in a row in a parliament session to discuss the budget law or other laws. to that carried political blocs of political responsibility for delay in approving the budget law and not to be included on the agenda at meetings of the Council because of their differences.
[millionday] this is for Monday
[millionday] note -- our notice that yes they are going to deal with the budget at the same time as all else
[millionday] MP said the coalition of state law by the Economic Commission Ibrahim stirrup in a statement »Sabah»:
The «Budget Law of the most important laws that must be read in the earliest before any other law because economic life in Iraq and the financial depend on this law,
including investment projects and even the salaries of employees affected by the approval by, as well as loans and all the other things that have nothing to facilitate the task of citizens.
Said stirrup that the non-inclusion of the budget law so far due to lack of a quorum for the withdrawal of many of the blocks of sessions, blaming these MPs responsibility first and historical legitimacy in front of their own people and against Iraq.
[millionday] i would imagine they had a stirrup --- smile brb
Comments may be made at the end of PART 2 THANK YOU