Millionday News 10/11/14 Part 1
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Millionday: NOTE -- CBI HAS MADE HUGE PROGRESS TO MOVE TO THE GLOBE FOLKS
Millionday: THAT IS WHAT WILL SHOW US A RATE
Millionday: technical requirements and between Walid Idi Abdul Nabi, in his speech for the "morning" that create technical requirements help to practice his works and make payments and services its customers with ease as well as ordinances control commensurate with the regulatory standards of international and in accordance with the best practices used in the central banks of advanced accompanied keep him out of the money is clean and
Millionday: NOTE -- THEY HAVE MADE THE TECHNICAL ADVANCEMENTS NEEDED AND ARE USED BY OTHER CENTRAL BANKS
Millionday: finding institutions chock him to provide services is fast and safe and sophisticated. payments system and said Idi that the banking system will see during the next developments in concrete at the organizational and operational relationships
and cooperation of the international banking to serve the requirements of the development of the upcoming stressing quest central to the development of the payments system through the project of Payment retail and managing national distributor (National Switch) as well
Millionday: NOTE -- THEY HAVE PREPARED THE ABILITY TO MOVE MONEY AND WORK WITH ALL THE INTERNATIONAL BANKS
Millionday: NOTE -- THEY ARE ABLE TO DO THE ENTIRE PAYMENT SYSTEM FOR ALL DISTRIBUTION -- WHOOOPOW
Millionday: as seeking to revive the Centre for Banking Studies, pointing out that the central and since the year 2013 to prepare courses and training programs, workshops and lectures Chirfah and Finance , and administrative, economic, and information technology, and the development of language indicating that the number was (47) cycle and participation (1149), an employee of the employees of the central bank and the government and private banks.
credit information and noted the Director-General of Statistics and Research at the Central Bank to the determination of the central activating system, the exchange of credit information
Millionday: NOTE -- THEY ARE ABLE TO TRADE ALL DATA GLOBALLY AND HAVE ALL FIGURES THAT ARE PART OF ALL ACCOUNTS AND AGREEMENTS ECT
Millionday: similar to neighboring countries, pointing to the formation of a working group for the experience of the Bank of Lebanon and the preparation of the necessary instructions to this effect,
revealing a group of companies specialized advanced to the completion of this project was chosen as one for this purpose, referring to compel central banks approved the acquisition of the banking systems overall order to complete the calculations quickly and accurately and confidential.
He noted obtaining more than 40 foreign banks and branches on this system leaving only government banks and some small private banks, which began studying the offers and contracted out, he said.
Millionday: SO WHAT THEY DID WAS INVOLVE ALL THE BANKS THEY HAVE IN THE SYSTEM AND HAVE ALSO USED THE BANKS IN THE REGION AS WELL --
THEY HAVE COMPLETED THE CALCULATIONS OR AUDIT NEEDED –
THIS IS THE BANKING REFORM AND PREPARATION FOR THE MARKET ECONOMY MOVE FOR THE MARKET OF BANKING --
Millionday: THIS IS HUGE AND HUGE PROGRESS -- CBI IS READY TO ACTIVATE THE MOVE TO THE GLOBE AND INTENDS TO DO SO
MGM: So have they been working this whole time cbi was closed?
Millionday: YES IT WOULD SEEM SO AS THIS IS A HUGE PRESS ANNOUNCEMENT MADE
Millionday: THEY DID NOT ANNOUNCE WHAT THEY WERE DOING BUT YES THIS IS DONE
karl4: So they intend to go global within the same time window?
Millionday: WITHIN THE SAME TIME WINDOW AS WHAT HUN?
karl4: This week? Month?
Millionday: I WILL SAY THE TIMELINE IS BEAUTIFUL WITH WHAT WE HAVE BEEN SEEING -- WE DONT HAVE INK ON IT BUT WE HAVE BEEN SEEING A RUSH TO GET THINGS DONE
Rockin'RV: so, MD, is this really the last step you see the CBI has made in order to move to the market economy. And nothing else.
Millionday: LETS READ JUST THIS PARAGRAPH AGAIN
Millionday: SO IT SAYS THAT IN THE GOV PROGRAMS THEY HAVE PLANNED TO GO TO A MARKET ECONOMY
AND THIS IS PART OF WHAT THE CBI HAS TO GET DONE
AND ACCORDING TO THIS THEY HAVE MADE THE STEPS TO MAKE IT POSSIBLE –
LOOK AT WHO IT IS FROM -- STATISTICS DEPARTMENT -- THEY DO THE AUDITS AND CENSUS AND ALSO KEEP UP WITH ALL THE NEEDS ACCORDING TO THE PEOPLE COMING IN AND OUT ECT
tank: are they waiting to go global for the esx and the isx-are they fully trading now?
Millionday: THE FIGURES THAT THEY HAVE ARE USED FOR ALL PROGRAMS SO THEY ARE STATING THAT LEGISLATION HAS BEEN DONE TO MOVE TO A MARKET ECONOMY --THE REQUIREMENTS
Millionday: THEY ARE READY TO GO AND WILL WHEN IT IS TIME WITH EVERYTHING ELSE –
THEY HAVE MADE IT CLEAR THEY WILL NOT WAIT FOR THE BUDGET AND WILL USE THE INTERNATIONAL INVESTMENT MONEY IN THE BANKS TO DEVELOP BUT ---
THIS WAS NEEDED TO BE INTERNATIONALLY RECOGNIZED AND THAT WOULD MAKE IT POSSIBLE WITH REALITY RATES FOR THE ISX AND ESX TO GO GLOBAL
Millionday: THE STOCK MARKET HAS TO HAVE REALITY RATES AND VALUES FOR FAIR TRADE FOR THE GLOBE
Millionday: THIS WAS A HUGE ANNOUNCEMENT MADE BY CBI FOR EVERYONE -- BRB WITH MORE
kenster: was CBI announcement made today?
Millionday: YES TODAY
kox: WHERE IS OUR WHOOOP POW///
Millionday: WHOOOPOW -- WE HAVE TO FOLLOW THE MONEY AND THEY ARE SAYING THEY ARE READY WITH LAWS AND AUDIT FROM STATISTICS AND ALSO THE ENTIRE PAYMENT SYSTEM -- THAT IS FOLLOWING THE MONEY
Royal: So this will tie in to all the great news coming on the 14th
Millionday: YES I WOULD SAY THIS IS THE RUSH BECAUSE THE WHOLE NIGHT OF NEWS IS ALL ABOUT WHERE WE WANT TO GO -- THIS IS JUST THE BEGINNING OF THE NEWS WHOOPOW : IT IS ALL GREAT GREAT
Millionday: HERE WE GO >> Mokhtassan economic affairs stressed the importance of the advancement of the financial sector at a time of cash reserve upsurge continuously, arguing the importance of the development of the banking business and to enable the joints to be supportive to the stage of economic development sought by the country
Millionday: NOTE -- THE STAGE OF ECONOMIC DEVELOPMENT -- SMILE
Millionday: And stressed the competent affairs in the banking Samir Alnasiri the importance of strengthening foreign exchange reserves of Iraq and reserves of gold and maintain the dinar exchange rate and raise the credit rating
and focus on attracting Alasttmarat.ofatt in an interview for the "morning" to the importance of activating the application of Basel Committee (2,3) and follow-up implementation with banks and focus on risk management
and the application of what can be applied to the minimum capital requirements and the supervisory review process and market discipline.
Millionday: NOTE -- THIS IS THE DIRECTION OF THE ACTIVATION OF THE ECONOMIC REFORM (BANKING REFORM) A HUGE PORTION OF IT
Millionday: NOTE -- MARKET DISIPLINE WOULD BE INTERNATIONAL COMPLIANCE
Millionday: The Basel Convention, the new third developed by the Basel Committee on Banking Supervision aims to enhance the hardness of the banking systems by addressing many of the defects revealed by the global financial crisis unveiled,
which poses new standards for capital and debt and liquidity to strengthen the capacity of the banking sector in dealing with the pressures of economic and financial and improve risk management and increase transparency, and will contribute to significant financial stability and long-term growth.
Millionday: NOTE -- BASEL III WAS INTRODUCED FOR ECONOMIC ASSURANCE AND EACH COUNTRY`S COMPLIANCE IS REQUIRED -- IRAQ WAS INTRODUCED IN BANKING AFTER IT WAS APPLIED AND ARE COMPLIANT
Millionday: either economic expert Tawfik Ali lost between in an interview for the "morning" that the role of the current banking sector requires to be more effective for the activities abused by the private sector,
pointing out that cooperation between the beneficiary and public banks and mixed private and is required during the current phase, indicating that the imbalance in the relationship between these parties generate negative effects consequent transfer of Iraqi funds abroad to invest, operate and saved,
either in the home owner of capital preferred Aktnazha rather than saved or invested, which the size of the role of the private sector for decades.
Millionday: NOTE -- MANY BANKS HAVE JOINED WITH INTERNATIONAL BANKS AND THEY NEED TO ASSURE THEY ARE ACCOUNTABLE WITH BASEL III AND ALSO TRANSPARENT IN THEIR PROCESSES –
ALSO THE WAY THAT IRAQ WILL BUILD THEIR AMOUNT OF FOREIGN CURRENCY FOR RESERVES IS TO TRADE THEIR DINAR AS WITH US AND ALSO THROUGH TRADE AGREEMENTS ECT –
THEY WOULD BE INTERNATIONAL ACCEPTED TO RAUSE THEIR AMOUNT OF FOREIGN RESERVES
Millionday: pointed to activate the role of the private banking sector and make it more effective in assigning economic sectors, stressing the importance of regulating the relationship between the central bank for the banks according to the vision can be taken from recent actual role in the processes of investment and development.
Millionday: SO CBI WANTS TO HAVE PRIVATE BANKS BOOKS AS WELL AND COMMUNICATION WITH THEM AS THE CENTRAL BANK AS OPPOSED TO A PRIVATE BUSINESS -- WHOOPOW
Millionday: LOOKS LIKE DEVELOPMENT TO ME -- LOVE IT -- BRB WITH MORE
Millionday: HERE WE GO WITH MORE OF THE SAME --
Millionday: THIS IS THE ACTIVATION OF COMMERCIAL BUSINESS DUE TO BANKING REFORM FOR IRAQ
Millionday: said the Federation of Chambers of Commerce that the activation of economic relations with the countries of the region and the world at the forefront of the agenda of the family business, through joint business councils formed in collaboration with the organizations and unions in many countries of the world,
at a time urged the government program to activate relations with various countries in the region. joint responsibility Federation President Jaafar al-Hamdani said in an interview (morning):
Millionday: NOTE -- THE GOV PROGRAMS ARE ACTUALLY LAW AND THEY ARE MOVING FORWARD WITH REFORMS WITHIN
Millionday: ACTIVATE THE RELATIONS WITH THE GLOBE AND REGION IS BUSINESS - WHOOPOW
Millionday: The development of business in the country is one of the priorities of our work, pointing out that commercial traffic represents the axis is important in the economy of the country,
noting that government program focused on the development of the commercial private sector and that this puts us in front of new responsibilities where Taatzafar our efforts with the government effort to bypass the determinants of work that was confuse the reality of the business.
Millionday: NOTE -- A FREE MARKET ECONOMY IS BACKED BY A COUNTRY`S BUSINESSES
Millionday: adding that the committees Union sustained in the implementation of its action plan to follow up the local markets, especially in the detailed prices, which chime The citizen's life, as well as the reality of supply and demand, and the commitment of the family business to reduce prices by 20 percent,
which contributed to maintaining a constant level of prices in light of the security situation experienced by the country. banking services Hamadani stressed the importance of the promotion of sectors in support of the development of the commercial sector and contribute to the smooth flow of the business process, and in the forefront of the development of banking services and reach out to the world in products
Millionday: NOTE -- THE LOCAL PRODUCTS SHOULD BE LESS AS PLANNED FOR THEM SO THEY BUY MORE "MADE IN IRAQ" AT HOME
Millionday: NOTE -- THIS OBVIOUSLY SAYS THEY ARE REACHING THEIR PRODUCTS OUT TO THE WORLD
Millionday: SMILE>>>to enable the merchant to complete financial transactions as soon as possible and that do not adversely affect the mechanism of action, pointing to the importance of the transfer of successful international experiences and adoption in our banks that need to develop all the joints
and raise the ceiling on the products they offer, especially After entering the branches of international banks have clout on the global economy and this requires that compete with our banks these banks.
open market and said that what came in the government program is clear and aims to develop the commercial sector and this is an achievement for us and sends a spirit of hope for the family business in the application of what came by the Constitution transformation of the Iraqi economy toward the open market,
Millionday: NOTE - DUE TO THE BANKING REFORM THEY ARE NOW ABLE TO MOVE TO A MARKET ECONOMY BY HAVING THE ABILITY TO RECIEVE FUNDS AND COMPETE IN THE GLOBAL TRADE ARENA
Millionday: adding that this approach will work on the development of the local private sector and the advancement of all his joints. economic council , said: What was the government program requires the formation of the higher economic funding from the government is working to support the private sector,
the requirements of success and of often in aspects of legislative and regulatory supervision of federations and organizations discreet formed the laws governing the work as a union of Iraqi Industries and the Federation of Chambers of Commerce, indicating the possibility of such unions in the activation of international relations for the existence of bilateral cooperation agreements with many countries of the world,
Millionday: NOTE -- THEY WILL BE USING THE UNIONS TO ADVANCE TO MANY COUNTRIES THROUGOUT THE WORLD TO HAVE SUCCESS FOR THE PRIVATE SECTOR IN THE DEVELOPMENT OF THEIR MARKET ECONOMY –
THE CHAMBER OF COMMERCE HAS STATED THE POSSIBILITIES OF HAVING GLOBAL UNION TIES AS WELL FOR ADDED SUCCESS
Millionday: as well as the ability to prepare studies that develop the economic sectors different. managing the economic file and pointed out that the road map for the union supports the statement in the government program,
especially what came orientation is useful tactical withdrawal of the state from the administration of the local economy and handed over to the private sector,
which should have an active role in economic decisions through the involvement of his actual working in the field and can diagnose weaknesses Legislative processed and Booze can develop the economy in the form of stages virile.
trade policy Hamadani called on the Ministry of Commerce to take the role of a real trade policy formulation in the country and oversee the mechanics of application according to the economic feasibility that must be achieved
Millionday: NOTE -- THEY ARE SAYING THEY NEED FEEDBACK AS THEY ENTER THE GLOBE FOR THEIR LEGISLATION TO MAKE SURE IT IS ALL WORKING TO GROW THEIR ECONOMY IN THE FASHION THEY HAVE PLANNED AND THAT MEETS THEIR GOALS
Millionday: pointing out that the current role is disproportionate and objectives such as the Ministry is the commercial reality in the country waits for the economy a lot of development work as well as the need for the international effort,
which has the development and here highlights the role of ministries and policy by providing the requirements of the country as quickly as possible and that do not adversely affect the atmosphere and action plans
Millionday: NOTE -- THE GOV PLANS AND THE COUNTRY`S PLANS REQUIRE THE MOVE TO A MARKET ECONOMY BECAUSE THEY HAVE ALL THE DEPARTMENTS SET UP AND READY TO GO -- THE PLAN IS FOR THEIR ENTRY TO THE GLOBE
Millionday: pointed out that economic relations with Turkey will enter the stage New Cooperation check the economic feasibility of the parties to the process, especially as the period witnessed muted in some joints,
where he met the delegation of the Union of Chambers of Commerce with officials of the Turkish government and has been discussed a lot of things that do economic cooperation between the two countries.
stressed the importance of working on the establishment of the Bank of developmental aims to support strategic projects and development in the country, funded from the allocations Sioah through the general budget to finance important projects across the bank.
Millionday: SO THEY HAVE PLANNED THAT TURKEY IS GOING TO WORK WITH IRAQ WITH SOME PROJECTS AND THEY ARE WAITING AS WELL -- THEY REQUIRE THE DEVELOPMENT OF THE COUNTRY AS WELL
Millionday: SO AS WE SEE THEY ARE PLANNING ON MOVING TO A MARKET ECONOMY AND IT LOOKS AS IF THEY ARE CALLING FOR THE ACTIVATION AS WRITTEN IN THE CONSTITUTION AND GOV PROGRAMS
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