Millionday News 3/3/15 Part 1
Welcome to dinarupdates.com for News Time with Millionday!
Millionday: SO IT APPEARS THERE IS ALOT GOING ON AND I AM EXCITED
Millionday: al-Hashemi said the Iraqi Central Bank Governor Dr. Ali Keywords: the auction constant currency did not stop, but what happened is a change in the method and mechanism used in it, noting at the same time that there is coordination between the central and private banks to launch loans for small and medium enterprises.
He said a number of media, including the "morning" that the currency, launched 10 years ago auction was one of extraordinary measures to maintain the stability of the exchange rate and
Millionday: NOTE -- THE BEST PART IS THE COORDINATION OF THE CBI AND PRIVATE BANKS
Millionday: resulted in the continuation of work by a lot of phenomena that have been the focus of criticism, pointing out that the new method determines the dollar sales of the need Actual where we came to the real number of actual need of the market, he said, adding that he will be the development of these mechanisms have been reviewed from time to time and depending on the circumstances.
Millionday: NOTE -- THIS MY FRIENDS MEANS THE CURRENCY WILL BE SOLD AT --- SUPPLY AND DEMAND -- A MARKET ECONOMY DEFINITION
Millionday: According to the relationship, this step will reduce undoubtedly amounts sold annually in the currency window to lower rates to contribute to the development of the economy and curb unemployment through coordination with private banks to launch loans for small and medium enterprises.
He stressed that the new measures taken by the Central Bank, which will benefit them to sell the currency window is not on a daily basis as we did not stop the auction,
but we changed the mechanism and method of implementation, explaining that the auction sale of daily currency was operating the Bank's departments to follow up Related currency auction.
Millionday: NOTE --- THE NEW MECHANISM IS THE NEW MECHANISM OF SUPPLY AND DEMAND -- LOVE IT AND HOW IT IS IMPLEMENTED -- SMILE
Millionday: He added: After studies and discussions with specialists and experts realism and scientific reached a new technique that will reduce a lot of money smuggling operations and support of the private sector in the work have been covered foreign bank accounts in dollars for the conversion process after the submission of the required details,
stressing that there is coordination with the Ministry of Finance to cover all imports in dollars to be paid directly at the entry of goods into the country from the border crossing points. Indicating that the role of the central bank will be commercial invoices and accounts relating to scrutiny.
Millionday: NOTE -- ANY US DOLLARS THAT COME FROM IMPORTS WILL BE SENT DIRECTLY TO CBI AND CHANGED TO COMMERCIAL INVOICES AND ACCOUNTS -- NOT AS PART OF THE CURRENCY STREETS
Millionday: The Governor of the Central Bank announced proposals to support private banks in coordination with the Ministry of Finance in receiving government deposits and lending because the banking sector has a promising future.
Millionday: SO CBI HAS PROMISED TO SUPPORT THE FUTURE OF ECONOMIC BANKING FOR DEPOSITS AND LENDING --
jarhead: so do I understand they will continue selling their currency in supply and demand
Millionday: THEY WILL BE SELLING IT ONLY UNDER A MARKET ECONOMY STAGE OF SUPPLY AND DEMAND AS WITH MANY OTHER COUNTRIES -- WE ARE SEEING NORMALCY
carpet: would supply and demand be back to there original rate
Millionday: SUPPLY AND DEMAND MEANS THEY ARE MOVING TO A MARKET ECONOMY WHICH ACCORDING TO THE REPORTS WE HAVE SEEN MEANS -- GLOBAL TRADE WITH THE CURRENCY AS WELL WITH THIS REPORT
Millionday: JAR -- I MEAN THAT IS THE ONLY WAY THEY WILL BE SELLING IT
The Shoe: When is this to start or has it?
Millionday: IT SAYS IT IN PAST TENSE AS IN IT HAS BEEN TAKEN SO TRANSLATIONS SAY ALREADY BUT WE WILL KEEP READING ABOUT THIS
Skrappyone: So what this is saying is that the Currency Auctions have been repolaced by the Currency Windows at the smaller banks, like we have here in the US. The CBI gave more power to the smaller bank to make loans to the private sector to make it easier to get private and small business loans. The CBI will make money when the monies are exchange by the banks back into the CBI.
Millionday: THE DIFFERENCE IS THAT IT WILL BE CHANGED TO DINAR IN THE SINGLE WNDOW SYSTEM IMO AND BY WHAT I HAVE READ
Millionday: Hussein al-Tamimi Tgb D.oled ornaments Prime Minister adviser said: that the general budget pass many challenges as a result of circumstances through which the country of low oil prices and national confrontation aggression Daash that require the concerted efforts of all the good in order to overcome this crisis.
This came during the opening of the Economic Forum organized by the Iraqi Economists Association in collaboration with the Baghdad College of Economic Sciences University, which carried the title "the mechanisms for implementing the federal budget for 2015" views and proposals,
Millionday: NOTE -- THEY HAVE HAD A CONFERENCE ABOUT THE BUDGET AND ALL IT HAS TO ACCOMPLISH -- CBI IS THERE AND THIS REPORT IS A SUMMARY
Millionday: adding that what weighs budget is the size of salaries and social benefits to be borne by the state and by eight million including four million employees and million retired and the rest is divided between social welfare benefits and martyrs and political prisoners and victims.
He said in a statement to the (morning) that the state actually duty afford living of all citizens, attributing the cause to a few areas of work in Iraq, which led to rampant unemployment, which require Find More serious and means to address this imbalance through the support of a market economy programs.
Millionday: NOTE -- THE BENEFITS NEEDED DUE TO SO MANY OUT OF WORK IS HOPED TO BE MINIMIZED DUE THE IMPACT THE ACTIVATION THAT JOBS WILL HAVE ON THE LACK OF NEED OF ALL OF THE BENEFITS -- HOPEFULLY THE UNEMPLOYED WILL BE EMPLOYED -- SMILE
Millionday: He ornaments to the need to promote the Iraqi private sector this task, especially after the launch of the strategy of the private sector, which the government adopted in order to activate productive activities and service expertise and potential of the private sector.
Addressing the homes of science and economists the importance of the proposal mechanisms to maximize the general budget revenues without relying on oil revenues.
He ornaments: that the slight improvement in oil prices Asher health forecasts and estimates of prices in the budget expected a breakthrough soon in prices,
Millionday: NOTE -- THE LAUNCH IN THE PRIVATE SECTOR -- WHICH THE GOV ADOPTED IN ORDER TO ACTIVATE ITS POTENTIAL ETC -- LOVE IT
Millionday: which is not only related to supply and demand laws but public policy for adult players also everyone is urged to work according to studied plans do not look at the prices in the oil variables but rely on productive and service sectors of the economy and other, including industry, agriculture, tourism and investment.
As head of the symposium, Dr. Sadeq al-Shammari said in his speech: that the current year's budget faces a series of challenges stand in the forefront of the decline Oil prices in world markets and the expenses of the war on Daash, also pointed out the correlation between politics and the economy and the relationship between them and the impact of each other.
Millionday: NOTE -- THE NEW MARKETS IS WHAT IRAQ IS PROMOTING FOR JOBS TO BE HAD -- THIS WILL BE TWO FOLD -- GAINS IN THOSE MARKETS AND THE LESSENING OF UNEMPLOYMENT
Millionday: He noted that the fall in oil prices in world markets, leading to move the Iraqi minds to create new outlets for new income-general of the federal budget, stressing that the lack of Financial revenues from the export of crude oil leads to a serious quest to move the joints of the economy,
especially the agricultural and industrial sectors have elements of development and activation of production and this provides billions of dollars spent on the import of money-sector products.
Millionday: NOTE -- THEY ARE EXPECTING HUGE FUNDS COMING WITH THE NEW BUDGET AND EMPLOYMENT PLANS -- LOVE IT
Millionday: He noted that the country has natural resources are sufficient country 800 years to come to, There are also in Iraq competencies able to invest the wealth and employment in projects to achieve sustainable economic development that transmits Iraq into a new phase achieved the highest degree of economic viability of the country, pointing to the need to promote economic expertise to work and creativity in their fields.
Millionday: NOTE -- THEY ARE GOING TO GAIN BY THEIR ECONOMIC MARKET AS WELL -- LISTED AS CREATIVITY --- THIS IS WHAT MOST ARE HAVING TO DO THESE DAYS IN THE GLOBE
Millionday: The head of the Iraqi Economists Association Abdul Hussein al-Yasiri MacKay referred that the actor economy requires an organ bank developed can interact with all phases of construction and reconstruction, which was sought by the country, offers the best products offered at banks that deal with the biggest international companies.
He pointed out the need for Iraq to Insurance cover a sophisticated system and act comparable to the banking system, noting that it achieves significant economic feasibility of the country because
Millionday: NOTE -- THEY HAVE DEVELOPED AN ORGAN BANK TO DEAL WITH THE ALRGEST INTERNATIONAL BANKS FOR THE CONSTRUCTION OF IRAQ -- WOW
Millionday: SIGNIFICANT FEASABILITY -- WHOOPOW
ROBINREDHED: ORGAN BANK, LIKE LIVERS AND KIDNEYS?
Millionday: BRAINS ONLY I HEARD LOL
Millionday: He pointed out the need for Iraq to Insurance cover a sophisticated system and act comparable to the banking system, noting that it achieves significant economic feasibility of the country because the insurance is a component of encouraging the development of production in all sectors, because it provides sufficient guarantees for the establishment of projects.
while eating a member of the House of Representatives, former Abdul Abbas Xiaa history of budgeting in Iraq since the first in 1921, the budget down to the current year's budget, pointing out need to be objects of expenditure in the budget, a high degree of transparency.
Millionday: WHILE EATING A MEMBER OF THE HOUSE OF REPS -- THIS IS WHY THEY CANT GET ANYTHING DONE -- THEY KEEP GETTING EATEN
Millionday: SO WE HAVE A GREAT ECONOMIC CONFERENCE AND ALSO HAVE A HIGH DEGREE OF TRANSPARENCY -- WHOOPOW
Comments may be made at the end of Part 2 Thank You