Millionday News 3/28/15 Part 1
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Millionday: WELCOME EVERYONE TO NEWSTIME GREAT TO SEE YOU
Millionday: Yasser incumbent heading the need to adopt the method of payment on credit to continue the implementation of strategic projects, particularly infrastructure projects, the important question here, what challenges facing the adoption of this method?
major challenge lies in the expectations of the stability of oil prices at a cover price limits under which painted the general budget seesaw and divided between arrival at acceptable levels for exporting countries and between the expected future declines due to lack of demand for oil in the summer period.
Millionday: NOTE -- THE DEMAND LACKING IN THE SUMMER SHOWS THAT THE GLOBAL MARKET WILL BE IMPACTING IRAQ AND THEIR OIL IMPORTS
BUT WE HAVE ALSO SEEN EXPECTATIONS OF 70 TO 90 $ PER BARREL BY END OF YEAR SO VERY ENCOURAGING WHILE THEY DIVERSIFY
Millionday: The other challenge is that the projects carried out in this way mostly on Infrastructure, a strategic projects and priority and of electrical energy, roads and bridges projects and housing projects, the projects do not have a direct payoff to cover repaid in the future.
However, it any infrastructure projects linked to stimulate productivity and service projects have a high return and direct, and thus contribute to the sustainability and sustainable development programs through created financial can inhibit the adoption of the budget on the oil yield
of the levers threatened to revenue resulting from the production and service sectors, and thereby contribute to the payment on credit projects to diversify the national economy.
Millionday: NOTE -- THEY EXPECT THROUGH THE DIVERSIFICATION OF THE ECONOMY AND ALSO THE MARKET ITSELF THAT THEY WILL BE ABLE TO MEET PAYMENTS OF CREDIT THAT ARE TO BE USED TO FUND THEIR PROJECTS –
THEY ARE HOPING TO USE CREDIT AND EXPECT SUCCESS DUE TO ECONOMIC EXPECTATIONS FOR IRAQ -- WHOOOOPOW
Millionday: NOTE -- VERY INFORMATIVE REPORT
Millionday: These two challenges require carefully focused their study so they can be the selection of projects that are meant to initiate its implementation through the payment on credit method. Here, the important question is, who she is concerned the marketing of this method?
Starting must identify priority in the implementation of projects, particularly electric power projects and then roads and bridges that contribute to strengthening the country's productive capacities,
these projects so far hypothetical, since the government must creating and preparing the launch requirements, choose the high expertise of international companies also
Millionday: NOTE -- THE PROJECTS THAT WILL BE DONE BY CREDIT (WHICH WOULD ADD INTEREST) ARE BEING PRIORITIZED SO THE EXPENSE MAKES SENSE FOR THE CREDIT
Millionday: coupled Balragbh them to invest in Iraq first, safe and attractive environment, discreet banks are able to absorb the financial capacity, as well as existing international banks in the country to participate with them within the terms of the contract in order to raise the efficiency and capabilities local banks in the future,
and is required to activate the insurance sector the most important link in achieving guarantees except other government guarantees,
which requires the need of an effective insurance companies can create a partnership between government and private and develop their systems towards the provision of services live up to the enterprise level.
Millionday: NOTE -- THEY ARE PROMOTING THE BENEFITS OF THE INSURANCE SO THE INVESTORS AND CONTRACTS OF THESE PROJECTS FEEL SAFE IN THE CREDIT SYSTEM –
IT WILL BEGIN WITH LARGE BANKS AND HOPE TO END AS PROJECTS BEING HANDLED BY PRIVATE BANKS WHERE THAT IS POSSIBLE –
THE REASON TO DO THAT WOULD BE TO CREATE REVENUES FOR THE GDP IN THE BANKING INDUSTRY
Millionday: The inclusion of the general budget of the paragraph to determine the amount of law five billion dollars to projects incorrect payment on credit and encouraging step and authorize the initiation of pursuing this method and ground can build on them provided that they are in accordance with the priorities, but when do you do? We will continue to see.
Millionday: SO THE TIMING HAS NOT BEEN SET IN STONE YET -- SO THEY ARE PLANNING FOR THIS TO BE AN ANSWER AND A SOLUTION DUE TO THE NEW DEVELOPMENT
awesomedtl: so are we thinking they want to be international by summer ?
Millionday: THEY SEEM TO THINK THAT REVENUES WILL BE MORE ACCESSABLE BY SUMMER AND THE NEED FOR ALL CREDIT WONT BE SUCH A PROBLEM AS IT IS NOW ---
THEY GIVE NO DATE BUT THIS IS INTERNATIONAL CONTRACTORS THEY ARE TALKING ABOUT IT APPEARS
Millionday: NOT STATING INTERNATIONAL BUT STATING MORE FUNDED -- BREATHING ROOM WE CALL IT -- SMILE
Millionday: NOTE -- THIS IS ABOUT THE MOVE TO ECONOMIC DEVELOPMENT - SMILE
Millionday: Hussein al-Tamimi Tgb after becoming the expansion funding is important axis in the implementation aimed to bring about sustainable economic development projects,
Islamic banks have started this aspect gives special importance to the expansion of the financial funding and ways to achieve them outlets to suit the requirements phase.
economist d. Sadiq al-Shammari, said: "The need to achieve this expansion requires the establishment of an Islamic investment funds specializing in real estate financing in each Islamic bank can invest this money for these funds to contribute contracting company linked to the Ministry of Construction for the purpose of providing loans to eligible without interest."
Millionday: NOTE -- ISLAMIC BANKS ARE ALSO PREPARED TO HELP IN THE DEVELOPMENT THROUGH LOANS/CREDIT --
THIS IS TO BE MOSTLY FOR REAL ESTATE DEVELOPMENT ACCORDING TO THIS REPORT -- SMILE
Millionday: He added in an interview for the "morning ", that" open branches of the windows in the districts and areas in all the cities of Iraq for the purpose of attracting savings and investment in farming and rent,
which lacks a country formats, which focus on serving the public interest to the advancement of the economic aspect of the country. "
He said the work on risk management is by achieving the ability to measure all kinds and create special departments to follow up on the implementation of the policy for the risk,
and the directors of other follow-up implementation of credit policies approved and activating the role of internal oversight bodies forensic audit and strengthened so
Millionday: NOTE -- THEY ARE CREATING SPECIAL DEPARTMENTS TO MAKE THIS PROCESS AS SMOOTH AND PRODUCTIVE AS POSSIBLE
Millionday: that it can risk predicted before they occur, pointing to the need to establish engineering management in Islamic banks with an efficient and qualified elements of project management the need for a regulatory framework and oversight
so as to ensure the standardization of opinions and interpretations of sharia law, the focus is on strengthening the stakeholders and different groups in the Islamic finance industry confidence box has become a necessity (according to Shimri),
Millionday: NOTE -- THEY NEED TO ENSURE THE STAKEHOLDERS AND ALL OTHER INTERESTING OR INVOLVED GROUPS SO THE PROJECT IS A SUCCESS
Millionday: who stressed the need for full coordination and availability of efforts between the regulatory and legislative bodies and to coordinate departments among them to create infrastructure and financial system compatible with Islamic principles that are measuring solvency process for institutions sufficient attention to reflect the extent of their exposure to various risks.
He stressed that the presence of a suitable framework governance system includes compatibility practices with Islamic Sharia law and that there is a part of the financial overseeing includes financial reporting and accounting systems and audit financial solvency and insolvency cases to the risk of transparency, disclosure and corporate governance Enterprise Manager.
Millionday: NOTE -- THEY NEED INFORAMTION AND HELP WITH TRANSPARENCY FROM THE IRAQI GOVERNMENT SO THAT THE HELP FINANCIALLY IS APPLIED AS IT SHOULD BE AND ALSO HELP IN THE MOST POSSIBLE WAY FOR DEVELOPMENT AND IMPACT
Millionday: He pointed to the need for coordination between regulators and educational entities in the field of Islamic finance and support the establishment of research centers for the development of special products to hedge against operational risk and market risk and compliant with Islamic law.
Shammari urged banks departments Islamic find mechanism for control of the capital adequacy ratio and make approval decisions issued by the Basel Committee and the Accounting and Auditing Organization for Islamic Financial Institutions and the vagaries of the central bank.
Millionday: NOTE -- THEY WANT TO WORK WITH GOVERNMENT, BIS COMMITTEE, ACCOUNTING AND AUDIT ORG AND OF COURSE THE CBI
Millionday: He continued to ensure the implementation of these decisions requires Islamic banks to have a system to estimate the required capital level compared to the level of risk,
as well as the formulation of strategy clear to maintain capital at an appropriate level required if the increased Almkhatr.uzad saying: there is a need to employ highly qualified message of the Islamic bank,
and put instructions and guidelines for measuring risk in the light of what was issued by the Basel Committee and the Accounting and Auditing Organization for Islamic Financial Institutions of the principles and inquiries of and preparation of Angels HR efficient by creating Tdrebe.oukal Shammari program:
Millionday: NOTE -- THIS IS ONE MORE OF THE WAYS THEY PLAN TO MOVE FORWARD WITH DEVELOPMENT WITHOUT FALLING ECONOMICALLY WHILE THEY GET STARTED IN THEIR REBUILD
Millionday: There must be for central banks to discriminate in the application of capital adequacy standard between Islamic banks and conventional banks,
as taken into account the special characteristics of these banks and the central bank to activate the role of controlling Islamic banks in terms of adequacy capital and the extent of the application of the principles of Islamic banking Islamic Sharia related formulas finance and investment,
and the establishment specializing in independent central banks are connected by all Islamic banks and pursue the business and activities of these banks are constantly circle.
Millionday: SO AS WE SEE HERE -- MANY FINANCIAL ENTITIES ARE A PART OF THIS DUE TO THE INCLUSION OF THE ISLAMIC BANKS AND THE CONNECTION BY SO MANY CENTRAL BANKS -- GOOD NEWS AND OBVIOUSLY PROGRESSIVE
awesomedtl: do I have my dinar glasses on>>>>>> are they screaming that they plan on being international soon?? they keep talking about how big they are gonna be for months now!! its time to do this!!
Millionday: THEY ARE TALKING ABOUT HOW THEY ARE GOING TO MAKE THE BUDGET STRETCH AND HOW INTERNATIONAL CONTRACTS FOR INFRASTRUCTURE ARE GOING TO BE ACTIVATED WITH SO LITTLE CAPITAL
AND IT SEEMS MANY ARE READY TO MOVE FORWARD WITH BACKING OF ISLAMIC BANKS
AND ALSO CREDIT SO THIS IS A HUGE RESOLVE FOR A HUGE PROBLEM -- REVENUES WILL THEN START TO BE COLLECTED ---- I SEE NO PLACE BUT UP SMILE
Millionday: RESOLVE IS A GREAT THING TO SEE PLANNED -----
Millionday: HERE WE GO WITH PARLIAMENT
Millionday: House of Representatives voted twenty-third in its session held under the chairmanship of Dr. Salim al-President of the Council and in the presence of 236 deputies, on Saturday,
the first draft amendment to the Law of the Federal service law with finished reading the first and second of four bills.
According to a statement issued for the information department of the Council of Representatives, the "morning" received a copy of it, that "the Council voted on the first draft amendment to the law of the Federal service number (4) of 2009 and sponsored by the Legal Committee to ensure the participation of most of the spectra of the components of the Iraqi people in their representation of the composition of the public service of the Federal . "
Millionday: NOTE -- FIRST PARLIAMENT ADDRESSED THE FEDERAL COURT ACT AND THE PARAGRAPHS OF THAT -- SOME ARE FIRST READING AND SOME ARE SECOND -- SMILE
Millionday: and postponed the Council, according to the statement, the vote on the draft law amending the judicial fees Law No. (14) for the year 1981 and provided financial and legal committees, as President of the Council urged the two committees to review the law and submitted this week for a vote.
It also ended the pain a sat first reading the draft law amending the certification of signatures on documents and documents of Iraqi and foreign Law No. (52) of 1970 and sponsored by the Legal Committee in order to eliminate controls on foreign exchange in the central bank
and the implementation of the resolutions of the Economic and Social Council of the Arab League to lift restrictions between member states of the Free Trade Area of the circle .
Millionday: NOTE -- THEY HAVE READ THE RULES OF FOREIGN EXCHANGE AND ALSO THE REMOVAL OF RESTRICTIONS FINALLY-- FREE TRADE AREA OF THE GROUP INCLUDED -- LOVE IT -- ALSO THE AMENDMENT OF LEGAL FEES --
Millionday: The Board completed the first reading of the first draft amendment to the Penal Code to the Internal Security Forces Law No. (14) for the year 2008 and submitted by the Committees on Security and Defence, and the legal order to reconsider the sanctions set forth in penalties Security Forces Act
Aldakhala.oanhy Council's first reading of the draft accession of the Republic of Iraq to the Protocol of 1988 relating to the International Convention for the Safety of Life at Sea, 1974 and submitted by the Committees for Foreign and legal relations in order to join the Albertokol.oorteurt Presidency postpone the first reading of the draft accountability and justice, and
Millionday: NOTE -- THE PENAL CODE AND SECURITY FORCES SANCTIONS-- IRAQ SECURITY FORCES SANCTIONS HAS BEEN READ ONCE AND ACC FOR THE ACCESSION TO PROTOCOL RELATING TO INTENATIONAL CONVENTION AND THEY POST PONED THE ACCOUNTABILITY AND JUSTICE LAW
Millionday: the prohibition of the Baath Party and submitted by the Committee of reconciliation, accountability and Alaadalh.ouge President al-Jubouri, a meeting of the Commission on Law accountability and justice with the heads of parliamentary blocs to discuss the bill
and submit a detailed report Anh.wastanf Council second reading of the draft labor law, submitted by the committees of labor and social affairs and civil society institutions, legal and women, family and childhood where he finished reading the 131 items out of 157 Madh.badha decided Presidency adjourn the meeting to on Monday.
Millionday: SECOND READING OF THE LABOR LAW --- 131 OUT OF 157 IS NOT BAD --- SO THEY DID WORK -- LOVE IT
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