Millionday Roundtable 11/15/13
[millionday] He is a member of the Finance Committee MP/iraqiya Hassan Al-Bayati, the need for a new law to keep pace with the evolution of international banks to develop the work of the local banks.
He said Al-Bayati (News Agency): the amendment to the Banking Act of 2004 new purpose because many legal loopholes was hindering the work of the local banks, especially in the use of modern technologies in banking. -
[millionday] He added that the banking sector needs a new law legislation keeps pace with the current phase of global banks has seen significant developments in their work, in addition to turning the Iraqi economy to the free market economy, this requires special laws fit with these changes.
Read More Link On Right
The banking system in Iraq consists of forty-three banks as well as the Central Bank and distributed by property (7) and banks (30) Community Bank including (7) Islamic banks to foreign banks (6)./ -
[millionday] so the current phase is global banking -- we like that - so they are amending a law for its entry to global banking smile brb with more
[millionday] amending means the law is in place so dont throw anything -- this is all about finding the best way and success -- we will see this for many moons brb
[faith1] millionday meaning many laws in place and we will see laws being amended as we go?? isn't activation of these Laws what we are looking / for ??? !!
[millionday] yes right all at once is what will happen
[millionday] look at this >>> Member of the Economic Committee MP/Kurdish Alliance/mahma Khalil, to invest in the free zone is an important step for the development of the Iraqi economy, pointing out that Iraq has several free zones in Diyala, Ninawa, Basra, Western region but not activated.
He said Khalil (News Agency): the free entry of goods and encouraged industries to Iraq and working to increase State revenue, economic free zones suffer from a lack of services and logistics, not to keep up with developments in their work. -
[millionday] He added that Iraq possessed the investment site wegghraki is important, the Iraqi economy in urgent need of wide squares and areas of free-to-play local and regional investors in order to benefit from their experiences.
The free zones are designed to promote commercial exchanges between the neighboring countries and facilitate the passage of goods through not charging your pet and taxes on the goods -
[MatCauthon] tiger_ag faith1 About the Indonesian Rupiah, I don't know if it means they will RV the currency, but it seems to indicate that. Would like to get milliondays opinion on it
[millionday] so not charging the pet - but the free zones are the gateway of production and advancement so this is great and of course it will be activated -- lots of money and now security just got there -- the borders are being filled with military and police
[faith1] pet ? tariffs ? pets ?
[MatCauthon] millionday If you get a chance could you check out the articles in International forum on Indonesian Rupiah and see if you think it indicates an RV by end of year? Thanks
[faith1] Indonesia moves closer to issuing redenominated notes in 2014 Indonesia moves closer to issuing redenominated notes in 2014 After many years of discussion, according to this article dated 22 July 2013, it appears Bank Indonesia is moving closer to issuing redenominated notes on 1 January 2014.
The new notes retain the same color schemes and depict the same people as the existing notes, although the portraits are redesigned and three zeros have been removed from the denominations. The new and old notes will circulate in parallel, and the old notes will remain valid for up to 10 years. The plan still awaits approval from the House of Representatives. http://www.banknotenews. ··· 2797.php
[MatCauthon] there's one more
[faith1] ohh ,, U want it too...?
[millionday] this is that indonesia is going to redenominate and has bearing on the world trade not when iraq will redenominate
[Hunch] Sorry wouldn't post properly
[MatCauthon] My question is does it indicate an RV of the Rupiah, not the dinar
[millionday] it obviously has a huge change for them and we know that a couple other countries are changing their rates as well -- but when iraq does is part of a huge plan and wont come from when another does
[millionday] the rupiah is going to raise in value naturally imo
[millionday] that is my opinion -- we will see if i am right smile
[MatCauthon] OK Thanks
[millionday] much much trade coming their way --- what do you think?
[millionday] MatCauthon what do you think ?
[MatCauthon] I was doing some reading and their economic forecast didn't look particularly favorable, thats why i was wondering why they would be instituting a change in currency
[faith1] I think it sounds like they are announcing a change in IR and to start on Jan 1,,,, wouldn't that be insider trading ???
[millionday] right -- i agree -- i find it strange but with the economic changes throughout the globe i believe there is a lot we are not aware of
[millionday] so much trade is coming from iraq to save the globe as they said --- the event
[faith1] thaT'S for sure!!
[millionday] no just a prediction or plan in the news -- it doesnt fall under the law brb with more i hope smile
TO BE CONTINUED LATER TONIGHT 11-15-13