Millionday News 7/15/14 Part 2
Welcome to dinarupdates.com for news time with Millionday!
[millionday] NOTE -- THIS IS THE RULES FOR EACH TYPE OF BANK THAT IS OPERATING -- AS IN PRIVATE BANKS -- INTERNATIONAL BANKS - CREDIT UNIONS -- AND SO ON AND SO ON
[millionday] THIS IS A VERY IMPORTANT REPORT
[millionday] He said Hassoun that new rules of procedure found him determinants of which take into account the rights of the banking sector and work in a unified and strong partnership for the development of the banking sector and build a base Iraqi bank to meet the requirements of economic and financial development in Iraq,"
noting that "the Association strives to be the true defender of the banks operating in Iraq and coordinated well between them and the monetary and fiscal authorities in the country to solve all the problems.
[millionday] NOTE -- THE BANKING ASSOCIATION IS TALKING ABOUT HAVING THAT BASE BANK WE TALKED ABOUT BEFORE -- SO ALL WILL KNOW THE ANSWERS AND WHERE TO GET THEM –
THIS IS TO ENSURE SUCCESS IN THE BANKING REFORM AND DEVELOPMENT AND THIS IS GREAT TO SEE THEY ARE AT A POSITION THAT THEY NEED THIS NOW AND ARE AT A POINT OF DEVELOPMENT AS THIS
[millionday] NOTE -- AS THEY ARE SAYING HERE -- EACH INDIVIDUAL ROLE IN THE DEVELOPMENT
[millionday] He Hassoun that "private banks operating in Iraq have a special role and a leading role in the development of the country's economy through their participation in the reconstruction of the country through loans to large enterprises, medium and small,
as well as reducing unemployment and moving the wheel of investment and infrastructure projects, control and maintain the Iraqi dinar against the currencies other.
[millionday] It consists of the banking system in Iraq from 43 banks, as well as the central bank, and are distributed according to government ownership between seven and 30 waged, including seven Islamic, as well as six foreign banks.
[millionday] SO THIS BASE BANK IS THE ONE THAT WATCHES OVER ALL BANKS AND THEIR PROCESS TO HELP IN THE DEVELOPMENT OF BANKING AND TO ENSURE THAT IT IS SUCCESSFUL AND THE DINAR REMAINS VALUABLE AT ITS RATE
[millionday] THEY BROUGHT THIS BANK UP SO LONG AGO -- THIS IS GREAT NEWS
millionday] OK HERE WE GO WITH SOME WHOOOPOWS
[millionday] NOTE -- THIS IS TALKING ABOUT AVOIDING INFLATION FROM CHANGES IN PRICING
[millionday] indicators recorded monthly inflation stable, while the annual rate rose by 2.3 percent, according to statistics of the Ministry of Planning recently, as an economist said Naji Hussein "morning", said the economic indicators measured by the wholesale markets in Baghdad and the provinces which are closer to reality.
said Hussein that benefit the stability of monthly inflation rates in Iraq gives the stability of commodity prices, especially commodities affecting inflation indicators in the country which is food prices,
especially with the advent holy month over prices some food because of the increased demand.
added, saying: "The rise in food prices leads to weak purchasing power of citizens and their direct impact them, especially those with low income, thus affecting the overall demand for these materials."
[millionday] NOTE -- THEY ARE SAYING THAT THE HOLIDAY MONTH WAS A GREAT TIME TO SEE HOW THEY ARE GOING TO DO WITH PRICING AND INFLATION RATES
[millionday] asserts Hussein, said the government is working continuously to reduce indicators of inflation because it averages which indicate the strength and the weakness of the Iraqi economy and used several measures to address these ratios, including interest rates,
"the benefits of credit and savings (the process of the money supply), the central bank's job by fixing exchange rates and interest rates tactics possible", in addition to raising the capacity of purchasing citizens.
explained that these rates are measured by the proportion of the market year, the wholesale markets which maintained to some extent on the stability of prices, but that the defect occurs in the case of turning Item from the wholesale market to markets in the singular, especially as the owners of retail are trying to achieve maximum profits.
[millionday] NOTE-- THEY ARE WATCHING AND LEARNING FROM USING TOOLS TO AVOID INFLATION OR ANY PROBLEMS THAT CAN OCCUR AND GET OUT OF CONTROL
[millionday] stressed the need to increase government control over retail markets, to avoid fatigue citizen amounts of extra food and essential commodities, and in order to avoid high inflation public thus adversely affect the economy of the country.
predicted stability of the annual inflation index for the current year after a slight rise due to internal conditions, but it will be less than last year, indicating that the indicators measured in proportion to the reality of the Iraqi market in (wholesale markets). confirmed the Ministry of Planning stability monthly inflation rate within the levels recorded, while
[millionday] NOTE -- THE RESULTS ARE THAT THEY ARE DOING GREAT WORK AND IT READS TO BE SUCCESSFUL IN HOW THEY HAVE EVERYTHING APPLIED AND THE JOBS BEING DONE ECONOMICALLY
[millionday] NOTE -- WE HAVE HEARD INFLATION WOULD BE NEEDING ADJUSTED BY 2% FOR YEARS --
[millionday] the annual rate of inflation as a result of rising food prices, where the ministry explained, that the monthly inflation maintained stability through last June, while the annual inflation rate rose by 2.3 percent due to rising food prices during the past 12 months by 4.5 percent.
said the spokesman of the Ministry of Planning Abdul-Zahra al-Hindawi in a press statement earlier this week: "The general inflation in Iraq is in decline As for the increase in annual inflation from June 2013 to June 2014 but is less than previous years. "
[millionday] NOTE -- IT IS VERY INTERESTING THE REPORTS ARE BEING DONE JUNE TO JUNE OF 2013-2014
[millionday] He Hindawi said declining inflation rates is due to the stability of the financial policy in Iraq, and keep the dinar, its value against the U.S. dollar, as well as the sufficiency of the consumer Iraqi and non- turning towards the purchase compared to previous years.
[graylnjo] REMAINS VALUABLE AT ITS RATE What does that mean MD? Talking about the Dinar
millionday] IT MEANS THAT THE FINANCIAL TOOLS AS IN INTEREST RATES IN THE COUNTRY AND THE AMOUNT OF CURRENCY ON THE AND GOV BENEFITS AND ALL THE TOOLS THAT ARE USED WITHIN A COUNTRY TO KEEP INFLATION AT A LEVEL RATE IS WORKING AND THE VALUE IN THE COUNTRY HAS REMAINED STABLE –
WHILE THEY HAVE BEEN STUDYING IT TO SEE HOW SUCCESSFUL THEY ARE WITH THE PLANNING AND TRAINING THEY HAVE APPLIED
[lstar877] What goes thru your mind when you say "very interesting june to june reports"?
[millionday] WHAT GOES THROUGH MY MIND? -- THAT IT IS INTERSTING THAT THEY ARE NOT DOING THEM JAN TO JAN AS THE FISCAL YEAR IS LISTED --
[millionday] NOW THIS IS A HUGE WHOPPER -- HERE WE GO
[millionday] Hashemi clear need for day after day to keep up with global developments in all areas of economic life, especially regarding the electronic system and things prepaid cards that contribute one way or another in the development of the banking business in Iraq.
And highlight the benefits of the application of systems of modern banking in overcoming many of the problems, whether geographical or security by facilitating the transfer of money and the delivery of salaries to employees and beneficiaries in hot areas.
[millionday] NOTE -- IN OTHER WORDS THEY NEED TO SEE HOW IT ALL WORKS AND TRY IT OUT IN HOT SPOTS
[millionday] In this regard, the researcher said economic state just that the conditions experienced by the country and the events taking place recently in different parts of Iraq, calling for activating the systems of modern banking and rely on smart cards in payment of salaries and wages. ,
she just told (morning) that the process of transferring money across the country difficult and Atkhalo risk is no reason to speed up the implementation of the infrastructure project on improving the payments system in Iraq.
millionday] confirmed that the direct implementation of programs related to electronic payment by the Central Bank, in coordination with the relevant authorities Kalptaqh smart, banks and the Ministry of Finance would ensure the safety of the arrival of salaries to employees, retirees and beneficiaries of social protection network in a timely manner,
regardless of the security situation and the events that may take place here and there. , and indicated that the awareness of the citizen role in the implementation of these projects through the belief that processes payroll electronically comes to service and ease of receiving a salary despite the challenges, and
[millionday] NOTE -- THEY ARE STATING THAT THE SECURITY ISSUES CAN NOT HOLD UP THE APPLICATION OF THE MODERN BANKING AND LAUNCHING THE SMART CARDS AND THE VISAS FOR PAYMENTS OR PAYROLL
[millionday] then serve the banking process and the advancement of the payments system in Iraq, asserting that if all the staff of the provinces of Nineveh, Salahuddin and other provinces of the campaign smart card may have been their situation is different now, but maybe they also had received their salaries regardless of what is happening in their areas.
handles the company global smart card process of paying the salaries of a large number of employees, retirees and some other categories, through coordination between the donor of salaries and the Rafidain and Rasheed.
[millionday] NOTE -- STATING THAT THE ISSUES THAT HAVE COME UP MAY HAVE HELD UP WHAT SHOULD HAVE ALREADY BEEN IN PLACE WITH THE SMART CARDS
[millionday] A source in the company told the (morning) that the staff of the two provinces, along with other categories of smart card campaign received their salaries last month, adding that efforts are continuing to ensure the delivery of their salaries for the month of July.
He explained that employees who do not hold the smart card are the ones who have been affected and have been paid for the delay in the receipt because of the situation going on in their areas.
Announced the central bank has recently taken a number of measures in the automation of processes settlement instruments and payment orders between governmental institutions and banking electronically through the payments system, which
[millionday] uses a secure network and effective, adding that the measure comes to the development of financial and banking sector in Iraq and reducing the phenomenon of pregnancy and money circulation. It also seeks the bank is keen to reduce the use of cash (CASH) in the country through his quest to automate the settlement of checks, salaries and activation of automation systems for electronic card, to keep more cash in bank accounts.
[millionday] SO THE cbi HAS BEGUN TESTING THE ELECTRONIC SYSTEM WITHIN THE COUNTRY TO SEE HOW IT IS DOING FOR SOME AND OTHERS HAVE NOT GOTTEN PAID BECAUSE THEY ARE NOT COMPLETLY READY BY NOT HAVING THE CARD OR THE AREA THEY ARE IN –
THEY ARE NOT COMPLETLY READY BUT HAVE BEEN TESTING THE USE OF THE SYSTEM WITHIN THE COUNTRY ALREADY
[kenster] If the security issues aren 't holding it up. The seating of GOI maybe?
[millionday] MAYBE AND ALSO THE REST OF THE BANK OF DEVELOPMENT AND ALL THE OTHER SMALL THINGS WE HAVE READ ABOUT WITH DEVELOPMENT AND THE HUGE FACT THAT THEY ARE NOT INTERNATIONALLY RECOGNIZED YET
[lstar877] What does it take to be recognized intil?
[lstar877] Just hooking up to the globe? Or a rate change? Or more to it?
[millionday] THE RATE TO BE CALCULATED TO REALITY FIGURE
millionday] THEY WILL NEED TO ACTIVATE THEIR MARKET AS WELL AS IN PUT THEIR DINAR AS A PRODUCT PAIRED WITH ITS PRICE -- SO IT IS RECOGNIZED -- ARTICLE 8
[kenster] Is ISX waiting on the rate change before they go international ?
millionday] kenster THE RATE WILL BE SET AT THE REALITY VALUE BEFORE IT IS ON THE MARKET -- AT THE SAME TIME THROUGH THE ELECTRONIC BANKING AND DATA SYSTEM THEY JUST ANNOUNCED
[cookie] Article 8 first or after RV?
[millionday] CBI ANNOUNCED THAT THEY WOULD BE APPLYING THE NEW RATE TO THE DINAR VALUE AND THE INTERNATIONAL CURRENCIES BY THE USE OF STEPS WHEN THE PRIVATE BANKS ANNOUNCED THEY WERE READY TO THEM
[millionday] THE FIRST STEP WAS THE WORKSHOPS AND TRAINING THAT WE SAW AND WE HAVE SEEN MULITPLE STEPS ANNOUNCED SINCE THAT DAY THEY MADE THE ANNOUNCEMENT
[millionday] THEY ARE MOVING STEP BY STEP AND TODAY THEY ANNOUNCED THAT THEY HAVE TRIED OUT THE ELCTRONIC BANKING SYSTEM AND SMART CARDS
[millionday] THIS IS VERY VERY EXCITING
[millionday] ALSO FOR THEM TO ELECT IN PARLIAMENT AS THEY SAID THEY WOULD AND ARE HANDLING THE BUDGET RIGHT AWAY IS VERY POSITIVE NEWS TO US AND THEM --
[millionday] THEY HAVE HUGE PROJECTS THEY HAVE SIGNED AND ALSO THE MANY STRATEGIC AGREEMENTS THAT INCLUDE INTERNATIONAL TRADE WITH THESE COMPANIES
[millionday] THE WTO HAS STATED THAT THE ELECTRONIC BANKING SYSTEM IS THE ROADWAY TO A MARKET ECONOMY AND THAT IS THE ROAD WAY TO THE ACTIVE MEMBERSHIP TO THE WTO
millionday] WHEN THEY NICKNAMED MALIKI THE OUTGOING PRIME MINISTER -- WE HAD AND THEY HAD HUGE HOPE WE DID NOT HAVE BEFORE
[lstar877] Ok but they can trade and have a rate and not be in the wto til later correct?
millionday] THE WTO IS A GOAL FOR THEM AS THEY ARE A MEMBER ALREADY AND WANT TO HAVE THE GREAT RESULTS OF BEING AN ACTIVE MEMBER FOR THE GREAT AGREEMENTS THEY WOULD BE ABLE TO BID ON AND BE A PART OF IN THE ORG INSTEAD OF JUST AN OBSERVER
[watchman42] What time will they meet tomorrow?