Millionday Newstime 10/17/15 Part 1 of 2
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Millionday: NOTE -- THIS IS TO BEGIN THIS WEEK ACCORDING TO THIS REPORT
Millionday: Announced the Agricultural Bank, Sunday, announced the launch of loans to citizens during the current week, indicating that the bank will be adopted for the first time on the "electronic loan" mechanism in the granting of loans to citizens.
Millionday: He said the bank director Mohammad Hadi in an interview with the program "of 10 of 11," which aired "Alsumaria TV", that "granted bank loans to citizens will begin after the central bank governor to sign a contract signed by the Minister of Finance on the loan," noting that "during this week Loans will be granted to applicants it.
Millionday: NOTE -- THEY ANNOUNCED THIS TO THE CITIZENS ON TV
Millionday: He said Hadi, that "the Agricultural Bank will be adopted for the first time electronic loan mechanism through the site bank online, as should a citizen who serves on the loan that will fill the form in," stressing that "the bank payout loan to citizens during a period not exceeding two weeks."
Millionday: NOTE -- THEY ALSO ANNOUNCED THAT WITHIN TWO WEEKS THE LOANS WILL BE GRANTED
Millionday: He said Hadi, that "the amount of the loan depends on the powers the bank, as the Director-General of his powers to approve the exchange of about 500 million dinars, and that the Board of Directors of his powers to approve the amount of 500 million dinars to three billion dinars,"
adding that " The problem of the Supreme Committee of its powers to ratify the amount of three billion dinars to 20 billion dinars. "
Millionday: NOTE -- OBVIOUSLY THE AGREEMENT ON FUNDS ARE BEING DONE
Millionday: The Central Bank of Iraq, announced earlier, starting from the launch of the largest funding for lending programs in Iraq, noting that they belong to finance industrial and agricultural sectors as housing and support small and medium enterprises and revitalizing the Iraqi economy.
Millionday: SO OBVIOUSLY FOR REVITALIZING THE ECONOMY -- WHOOPOW
Millionday: Mustafa al-Hashimi regulated by the Central Bank in the twenty-seventh of this month, a live auction for the sale of Hawwalath of the 91-day amount emissivity 200 billion
dinars., Said a source at the bank »Sabah» that this auction is the twenty-second of its kind within the central plan for this year and earmarked for sale Hawwalath , pointing out that the plan includes the establishment of 26 live auction for this purpose.
He expressed hope that the sale of the full amount of Asdarih to recipient agencies that will be involved in it.
Millionday: NOTE -- THEY ARE HOPING TO REACH THEIR GOAL DURING THIS AUCTION
Millionday: In a private b »morning», the central statistical, and through the auction sale of money orders, re-employment of about 3 trillion and 349 billion and 74 million dinars in the banking system of non-banking sectors, and according to experts, this amount is too large should be exploited to re-correct employment.
Millionday: SO THEY OBVIOUSLY ARE HOPING TO ACTIVATE EMPLOYMENT THROUGH INVESTMENT
Millionday: NOTE -- I THINK I BROUGHT THIS THIS WEEK BUT
Millionday: THIS MEANS THIS MONDAY
Millionday: He announced the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it, as he emphasized that the financial economy and the committees of the Parliamentary arrived in the final version of the amendment.
Hamoudi said while chairing a joint Finance Committees, the economy and investment meeting in the House of Representatives, and attended (range Press), "The amendment of the Investment Law will be submitted to parliament next Monday, in order to vote on it."
Millionday: NOTE -- THIS IS THE FINAL VERSION OF THE AMENDMENT
Millionday: Hamoudi said, "This meeting is the last to reach the final version of the amendment of the Investment Law before it is submitted to a vote."
The Committee on the economy and investment parliamentary Ezzat, the Wednesday (September 16 2015), to postpone the vote on the amendment of the Investment Law to the presence of the desire of some of the proposals it added, indicating that it will meet with the rest of the House of Representatives to discuss ways to develop the law.
Millionday: NOTE -- THEY PLANNED ON VOTING IT THROUGH LAST MONTH IT APPEARS BUT -- THE FINAL AMENDMENT GOES ON MONDAY
Millionday: The parliament approved the 2006 Iraqi investment law, which it was said at the time that he "will open the doors wide the" to foreign investment, due to submit a lot of facilities to foreign investors, but that many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project,
and equated the Iraqi investors and foreign in all the privileges, with the exception of real estate ownership, as it allows the foreign investor lease the land for 50 years, subject to renewal, according to paragraph 11 of the Investment Law.
Millionday: SO AS WE SEE THIS WILL OPEN IRAQ FOR FOREIGN INVESTMENT ---- WIDE OPEN IT SAYS
Millionday: KNOW HOW HUGE THIS IS ?
larrykn: could they pass the law without activating it, and wait till they are ready to release everything at once
Millionday: YES THEY COULD BUT ALL THIS IS OBVIOUSLY FOR A PURPOSE -- LOANS ETC -- DEVELOPMENT
Millionday: IMO THEY ARE NOT SITTING ON IT
subgirl: Economic: the finishing touches on the investment law for a vote next Sunday This is what the article says from wvchsr brot in today LINK
subgirl: this is what was brot in this afternoon about the vote on Sunday. have you seen this yet
Millionday: THANK YOU
maine: i posted an article earlier that stated the vote was moved to Sunday instead
faith1: regarding the loans, was just going to say, 2wk turn around is state of the art technology.... yea... very exciting indeed! especially the monies flowing partsss!
Millionday: I AGREE FAITH -- ELECTRONIC IS SUCH A GREAT CHANGE AND WHAT WE LIKE --- PROGRESS
Millionday: SUNDAY IS NOT A PROBLEM WITH ME -- SMILE
paul-o: Millionday, correct me if I'm wrong, but this is the way I look at those loans that will now be available to Iraqi citizens. Once the RV happens, and for example let's just use a $3 RV rate.
In the past if an Iraqi wanted to buy $1 worth of imported goods, (and they import almost everything), they would have to fork over 1166 dinar.
At a $3 per dinar RV rate they will just need to fork over 3 dinar, which means their purchasing power will go through the roof!
These loans would help small businesses cover buying increased inventory and employ more people. Or am I completely out to lunch?
Millionday: YOU ARE CONFUSING THE VALUE OF THE DINAR IN COUNTRY (COST OF LIVING) AND THE INTERNATIONAL EXCHANGE RATE TO THE COUNTRY (UNITED STATES)
paul-o: So my example is not correct then.
Millionday: HOWEVER -- THE OPENING TO A MARKET ECONOMY WILL BE AMAZING FOR THEM AND THE TRANSFER OF BENEFITS ETC
_firefly_: Also once the RV happens, 1166 will be out the window since it is a program rate imposed on them
Millionday: PAUL -- YOU HAVE A GREAT POINT -- THE FOREIGN INVESTMENT WILL BRING IRAQ TO ANOTHER POINT ECONOMICALLY --
Millionday: THE PRICES IN COUNTRY AND THE VALUE AS WITH US HERE WILL DETERMINE HOW THEY LIVE OR FLOURISH ETC
Comments may be made at the end of Part 2 Thank You