Millionday News 3/1/15 Part 1
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Millionday: Parliamentary Finance Committee revealed that the work of the Iraqi Central Bank remittance system and sell the currency is designed to control the amount of money sent abroad.
Said committee member Najiba Najib said in an interview for "direction Press" that the system preclude any party from exploiting the situation the current security of the country and to control the exchange rate a way that would support the budget and cover the deficit indicating that the system is a way to curb money laundering.
Millionday: NOTE -- THE NEW SYSTEM (REMITTANCE) IS TO MAINTAIN THE VALUE OF THE DINAR AND APPLY THE CONTROLS FOR THE MONETARY POLICY ---
Millionday: It is said that the Iraqi Central Bank announced an auction system to stop working and start currency remittance system. Indicating that the move contribute to the stability of the Iraqi dinar exchange rate against foreign currency through the optimal use of foreign exchange resources
to meet the needs of all and not the central occupancy of functions which are at the heart of the work of the banking system, while adhering to the requirements of anti-money laundering
and the financing of terrorism and smuggling of currency law, and the governor Iraqi Central Bank on the Keywords announced that it is not true that the central bank remains preoccupied with selling the currency.
Millionday: SO THE MOVE TO THE NEW SYSTEM IS TO GAIN CONTROL OF THE MONEY LAUNDERING AND ALSO TO GAIN CONTROL OF THE FINANCING OF THE TERRORISM THAT THE INTERNATIONAL COALITION IS WORKING TO REMOVE WITH THE HELP OF IRAQ AND KURDISTAN TROOPS --
kmiller68: Maintain the value of the dinar??????
kmiller68: that doesnt sound good
Millionday: ONE OF THE JOBS OF CBI IS TO MAINTAIN THE VALUE OF THE DINAR IN THE COUNTRY AND OUT
-- THIS KEEPS INFLATION OR DEFLATION FROM BEING A PROBELM AND GAINS CONFIDENCE IN THE COUNTRY TRADE AND THE CURRENCY ITSELF
Tex.: Can U define money laundering the way they use it,,, it's different from what i know
Millionday: WITH ALL THE COUNTRIES MODIFYING THE MONEY LAUNDERING LAWS -- THIS WOULD APPLY TO ALL THE NORMAL LAWS BUT ALSO APPLY TO THE FUNDING PROBLEM ONCE AGAIN FOR ISIS AND DAASH ETC –
THEY HAVE SMUGGLED MONEY OR TAXED ILLEGALLY FUNDS AND THEN THEY RUN IT THROUGH A BUSINESS SO THAT IT IS NOT CONNECTED TO THEM -- CLASSIC –
HOWEVER THE BLACK MARKET IS INVOLVED WITH ARMS DEALING -- PEOPLE PURCHASES AND PROMOTIONS -- ETC
Millionday: To / banks authorized to exercise all banking - financial companies approved the conversion of all ( sale and purchase of foreign currency Regulation (26/3/9) for the year 2015 ) 01/03/2015
Millionday: SO THIS IS TO BEGIN MARCH 1ST
Millionday: To / banks authorized to exercise all banking - financial companies approved the conversion of all - all licensed exchange companies ( sale and purchase of foreign currency instructions ) 02/11/2015
ROBINREDHED: TODAY IS MARCH 1ST
kazorchian: does this mean we can exchange tomorrow at a revalued rate?
Millionday: NO IT GIVES US NO DATE AT ALL
usmarine: we have heard a lot in terms of system work, having credit cards working across borders and getting things to be on the same track (rate). So does the current report mean all of that is ironed out and working properly?
Millionday: WE DONT KNOW FOR CERTAIN --- THE BANK TODAY THAT WE WILL LOOK AT AGAIN STATED THAT THEY WERE RELEASING SMART CARDS OUTSIDE IRAQ
Millionday: SO OBVIOUSLY THEY WILL HAVE TO HAVE SOME TYPE OF EXCHANGE IN ORDER TO FOLLOW THROUGH
RVMAN: You stated no date...so what is march 1st??
Millionday: MARCH 1ST IS WHEN THE BANKS HAVE BEEN ORDERED TO MOVE FORWARD WITHT HE SELL OF FOREIGN CURRENCY
Millionday: AND SHOULD BE TARIFF
coolspot: if it is an instruction to the commercial Banks do we need a date? They may not give a date but apply the action of exchange
coolspot: a smart way
Millionday: HERE IS THE DATE >>>>
To / banks authorized to exercise all banking - financial companies approved the conversion of all ( sale and purchase of foreign currency Regulation (26/3/9) for the year 2015 ) 01/03/2015
Millionday: MARCH , 2015 1ST
Millionday: APPROVED THE CONVERSION OF ALL
coolspot: so if the ink is correct we have a value
Millionday: I DO NOT SEE A VALUE -- I HAVE BROUGHT TWO REPORTS AND NO RATE YET
thefarm7: You posted as the second part of the news statement: financial companies approved the conversion of all - all licensed exchange companies ( sale and purchase of foreign currency instructions ) 02/11/2015 What does this mean? I know the date is 11/2/2015
Millionday: THE DATE IS MARCH 1ST
Millionday: THEY MET ON THE INSTRUCTIONS AND NOW THEY HAVE GOTTEN ORDERS TO
Millionday: MOVE FORWARD WITH THE ORDERS MARCH 1ST
The Shoe: since today is the first do we think this will show tomorrow
Millionday: THE ACTION SHOULD TAKE PLACE STARTING TOMORROW IF THERE ARE NO HOLDUPS
Millionday: Interest on current accounts receivable prices (short) Iraqi Dinars 14% - 12% and there is a 10.5% interest collected monthly
Interest on loans granted to the price of the Iraqi dinar to ensure Iraqi Company for 12% of bank bailouts
Interest on the Iraqi company loans rate to finance small and medium enterprises in Iraqi dinars 10%
United Bank: is determined by the interest rate on credit (medium and long term), the Iraqi dinar after presentation to the Board of Directors
Middle East Bank (8.5 7.5%), (8% 7.5%) (% 8% - 7%) Asaralvaúdh on fixed deposits for periods (one year, for more than a year, two years) Iraqi Dinar
Millionday: NOTE -- THIS IS VERY INTERESTING AND IS THE RATES ON THE BANKING THAT HAS BEEN SET --
Millionday: Saving Current account (over draft) Discounted bill of exchange
Summary interest rates on some of the banks for the month of October 2014
* Rasheed Bank: cash deposits for two terms (six months, two years) in Iraqi dinars 7% per annum *
Bank of Sumer: (10% 7%) interest on savings deposits in Iraqi currency prices
Wide Ralvaúdh on fixed deposits (for a year) in Iraqi dinars (11 - 10%%)
Interest rates on fixed deposits for two terms price (six months to a year) in foreign currency (2,75-% 1.25%)
Byblos Bank: interest rates on fixed deposit rate for two terms (six months to a year) from the Iraqi dinar (2.25%
Millionday: Determine the interest rates on credit extended price (short-term, medium-term, long-term for more than a year and MOST) of the two-year foreign currency (12% - 10%)
Interest on the overdraft account and discounted bills and loans for the period prices (medium-term) (18% - 8%) and short term (18% - 6%) Dinars
Interest rates on loans (the medium-term, ongoing and open accounts) of (13- 11%) (16% - 11%) currency Alajunb%
Union Bank of Iraq: is determined by the interest rate on credit (long-term) by the Iraqi dinar
Millionday: The agreement between the customer and the bank
Mansour Bank: be determining interest rates on fixed deposits for two terms price (one year, two years) in Iraqi dinars and foreign currency after the agreement between the customer
Iron interest on cash credit for the price (more than one year) in Iraqi dinars and foreign currency after the agreement between the customer and pain
Bank of Iraq through: (14 - 8%), (12 - 8%)%, (14% 8%) interest on current account rates, bill of exchange, short-term and medium-term%
Millionday: SO AS WE SEE ALL OF THE BANKING REFORM INTEREST RATES FOR BANKING REVENUES HAVE BEEN RELEASED
Millionday: Announced that the United Nations Mission in Iraq (UNAMI), on Sunday, killing and wounding an Iraqi violence witnessed the events of 3383 different parts of the country during the month of February.
As confirmed it is looking to the results of the investigation initiated by the government in a "massacre" took place in Diyala province, pointed out that exclusively to the problem of organizing Daash military solution is impossible.
The UN mission, in a statement seen (long-Presse), a copy of which, "The death toll, which have fallen by violence during last Sabat was 1103 Iraqis and wounded in 2280 in acts of terrorism and violence," asserting that "the number of civilians killed was 611 (including 30 civilian police), while 1,353 were injured (including 29 civilian police). "
Millionday: The mission added that the number of military casualties was "927 victims (including the Peshmerga, and the forces of Swat and elements of the popular crowd, including losses of Anbar) operations." .
International Mission and added that "Baghdad recorded the largest number of victims, the fall of 329 people and wounded 875 people and recorded Diyala 73 dead and 69 wounded, Salahuddin killing of 39 and wounding 54 people and Nineveh deaths of 40 people and injuring 17 people."
She mission that "According to information obtained by the mission of Health Directorate in Anbar province, the conservative recorded a total of 372 civilian casualties (81 killed and 291), and included 23 dead and 196 injured in Ramadi, 58 people were killed and 95 wounded in Fallujah. "
Millionday: confirmed UNAMI "The figures contained in the reports must be the absolute minimum consideration."
For his part, said Nikolay Mladenov, head of the UN mission, according to the statement, "I am looking forward to the results of the investigation initiated by the government in the massacre took place in Diyala province," stressing that "the solution Military exclusively to the problem of Daash is impossible. "
It is noteworthy that the security situation in the capital, Baghdad, have been tense since the middle of last year, 2013, as the United Nations Mission in Iraq said, on the first of February 2015, the month of January last, witnessed the killing and wounding an Iraqi 3615 operations violence witnessed different parts of the country.
Millionday: THIS IS THE MOST RECENT REPORT I HAVE OF WHERE THEY ARE WITH THE WAR ON TERRORISM
Comments may be made at the end of Part 2 Thank You