Millionday News 11/25/14 Part 2
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Millionday: NOTE -- THEY ARE CALLING ON EXPERTS TO KEEP ANY ISSUE FROM GETTING OUT OF HAND WITH DEVELOPMENT
Millionday: in particular in relation to Bmsthaddthat applications Basel in order to improve risk management of Arab Banks level, as well as strengthening the role of central banks in the evaluation and follow-governance applications most prominent dealt Conference, according to al-Shammari.
Millionday: He said the conference focused on the importance of strengthening the role of the senior management of the banks to consolidate and dissemination of risk culture and the development of effective solutions to them,
urging the Islamic banks to strengthen the role of managing the risks of Islamic banking and the development of strategies and policies that fit in with the special nature of these banks,
as demanded by the banks to hold an in-depth study of the standards of the new liquidity in the framework of the Basel and prepare for the implementation and coordination with central banks.
Millionday: NOTE --- THIS IS THE ORDER TO PREPARE TO WORK WITH ALL CENTRAL BANKS AND THE IMPLEMENTATION
Millionday: And the role of Islamic banks at this critical stage that happening once the world markets in the light of the volatility of oil prices,
Al-Shammari said: that the central banks in determining the important banks locally and put defined clearly in preparation for the development of control procedures to be followed and extra special requirements of capital required,
indicating the need for a regulatory and supervisory framework that ensures achieve the unification of opinions and interpretations of sharia law, which focuses on strengthening the stakeholders and different groups in the Islamic finance industry confidence box.
Millionday: NOTE -- UNDERSTAND THEY HAVE A RESPONSABILITY TO THE SHAREHOLDERS OF THE BANKS TO ENSURE THEY HAVE CONTROLS IN PLACE
AND THEY ARE ALSO SAYING THAT THEY MUST KEEP INTERNATIONAL COMPLIANCE AT THE VERY FOREFRONT OF EVERYTHING THEY DO DURING THE BANKING REFORM AS FAR AS LIQUIDITY AND BASEL ETC
Millionday: research centers Shammari stressed the importance of 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 compatible with Islamic law,
as well as the presence of an appropriate framework governance includes compatibility practices with Islamic Sharia law and that there is a part of the financial overseeing includes financial reporting and combine accounting,
auditing and financial solvency and insolvency cases, risk management, transparency, disclosure, and corporate governance.
Millionday: NOTE -- THEY MUST WORK WITH ALL EXPERTS AND REGULATORS AND BE PREPARED WITH DOCUMENTATION AT ALL TIMES
Millionday: blending of expertise and urged the departments of banks, the Iraqi Islamic a mechanism for control of the capital adequacy ratio and make them according to the decisions of the Basel Committee and the decisions of the Central Bank of Iraq, to ensure their application,
pointing out that it requires the Islamic banks have a system to estimate the level of capital required compared to the level of risk, as well as the formulation of strategy clear the capital at the appropriate level required if the increased Almkhatr.vdila recruiting highly qualified letter of the Islamic bank, and
Millionday: put instructions and guidelines for measuring Almkhatr.oakhtaatm Shammari speech focusing on the establishment of an Islamic investment funds specializing in real estate financing in each Islamic bank,
and can invest this funds to contribute Contracting linked to the Ministry of Construction and Housing Corporation for the purpose of providing soft loans.
Millionday: SO IN OTHER WORDS THEY MUST FOLLOW ALL RULES AND BE PREPARED TO BE HELD ACCOUNTABLE ----------
Millionday: IF YOU DONT HAVE A COMMENT TO THAT YOU SHOULD CHECK YOUR PULSE
Pablo: But when? When? When??????
Millionday: TODAY THROUGH THE 30TH IS THE CONFERENCES FOR THE ECONOMIC DEVELOPMENT -- THOSE DATES WE HAVE
johnsoos: so this conference should bring reform once finish
Millionday: WE DONT HAVE A DATE
johnsoos: the 30 is the last day correct
Millionday: THE 30TH IS THE LAST DAY OF THE SECOND CONFERENCE WITH THE 55 COUNTRIES THERE
MGM: Any word if Iraqi Air will be using Dinar?
Millionday: YES THEY WILL AND HAVE BEEN ORDERED RIGHT AWAY A COUPLE DAYS AGO SO THEY SHOULD HAVE THAT APPLIED BY REGULATION -- IT IS THE ONLY CURRENCY THEY ARE ABLE TO USE
johnsoos: we they be having anymore ,also thank you
Millionday: NOT ANYMORE CONFERENCES ON THE BANKING REFORM THAT I HAVE SEEN
Millionday: BRB WITH MORE
Millionday: THIS IS WHAT THE TITLE STATES FOR THIS NEXT REPORT
Millionday: >>>>>>> Step taken for the first time since 2003 <<<<<<<<<
Millionday: BRB WITH IT -- I LIKE IT ALREADY
Millionday: for the first time since it began phase of political change in the country in April 2003, was approved rules of procedure of the Council of Ministers, according to the provisions of Article 85 of the Constitution, with a slight change was conducted to paragraph (40) thereof.
since been voted yesterday in the Cabinet meeting routine, this regulatory document for the work of the executive authority without objection
Ivkr.oaodh spokesman for the Prime Minister's Office, a tributary Jabouri, said the voting process has been legally returned them "part of a government program to the Prime Minister Haider al-Abadi and a sign of its commitment to the process of structural reform of state institutions all. "
Millionday: NOTE -- UNDERSTAND THAT THIS IS ALL VOTED THROUGH AS OF YESTERDAY
Millionday: said Jabouri told the "morning": "After weeks of hard political work, an agreement was reached on the rules of procedure for the government to pass", stressing that it will pour inevitably in the project of building the Iraqi state .
He added: "It is important that there be laws and contexts to clarify the government's work, in order to promote the responsibilities due and required tasks,"
explaining that the aim of this unprecedented step, is to "coordinate relations between the organs and joints of the state to raise their efficiency."
Millionday: NOTE -- THIS IS THE PASSED AND GIVEN RESPONSIBILITIES AND TASKS TO COORDINATE--
Millionday: At the government session, was also take a series of decisions, including: transmit files that contain the suspicion of corruption to the regulators, and the recommendation to conduct a field follow-up to the conditions of the displaced, and work to end the suffering.
Millionday: SO ALL THE FILES WERE TRANSFERED AS WELL TO THE REGULATORS --- THIS WOULD OF COURSE BE THE ADMINISTRATIVE REFORMS
Millionday: ANYONE LIKE IT SO FAR?
graylnjo: Has any of these laws and progress been entered into the Gazette to make it official??
Millionday: I DONT KNOW IF THEY ARE IN THE GAZETTE
Millionday: BRB WITH MORE
Millionday: THIS MEETING IS TOMORROW
Millionday: Met with Mr. Prime Minister, Dr. Haider Abadi evening, Mr. President of the Republic, Dr. Fuad Masum, and Mr. Speaker, Dr. Salim al. , and held three presidents meeting at the presidential headquarters has a discussion of the overall political and security developments.
It was in the meeting, they discussed steps to accomplish the government program of political and document the stages of lifting the financial budget of the Council of Ministers to the House of Representatives.
Millionday: SO THIS IS THE APPLICATION OF THE GOVERNMENT PROGRAMS AND THE FINANCIAL ASPECT OF IT--AS WAS REPORTED THEY HAVE THREE PHASES AND THE FIRST IS THE FINANCIAL PART OF THE PROGRAMS
Millionday: WOW THE NEWS ROCKS --- THIS SURE SOUNDS GREAT TO ME
faith1: what are the three phases please
Millionday: THEY ONLY SAID THAT THERE ARE THREE AND THE FIRST WOULD BE THE FINANCIAL
Peppermint: Can they RV after the first financial phase, or do we wait for all 3 phases?
Millionday: THEY CAN APPLY CHANGES TO THE REALITY RATE FOR TRADE AT ANYTIME THEY WOULD LIKE -- CBI IS INDEPENDENT AND HAS THAT JOB
Pablo: So, the financial phase is kicking in now?
Millionday: WHAT DO YOU MEAN KICKING IN?
Pablo: financial reforms
Millionday: THE CONFERENCES THEY ARE HAVING ARE FOR THE BANKING REFORM WHICH IS A HUGE PART OF THE ECONOMIC REFORM PACKAGE FOR IRAQ
Mary: As stated above earlier, the Iraq airlines now need to use Iraq Dinar, and other companies, well I understand they do not have much dinar left,,, so it means they have to RV soon ?
Mary: Like they dont have a choice ?
Millionday: THEY HAVE A LOT OF DINAR –
THE PROBLEM IS THAT THEY ARE TRYING TO REMOVE THE DAMAGED AND HAVE REPORTED THAT THEY ARE GOING TO BE USING COINS AND SMALLER DENOMINATIONS
SO THE DENOMINATIONS THEY HAVE IN THE HIGHER VALUED THEY HAVE NOT PRINTED ALOT OR AT LEAST NOT ENOUGH TO "PAPER" THE COUNTRY –
THE BANKING REFORM INCLUDES ELECTRONIC BANKING -- ATMS -- DEBIT -- SMART CARDS -- WIRE TRANSFERS AND THE LIST GOES ON
SO THE ONLY LEGAL TENDER THEY HAVE IS EXPANDING TO OTHER RESOURCES -- PLASTIC -- WIRING -- PAPER - COINS -- LOANS----
THE REFORMS AND AMOUNT OF DENOMINATION WILL NOT APPLY AT THE IMPOSED RATE THEY ARE USING RIGHT NOW AND IT IS NOT A REALITY RATE EITHER ----
SO A FAIR MARKET VALUE OF THE DINAR WILL BE APPLIED FOR THE ECONOMIC REFORMS
Millionday: EVERYONE -- KNOW THAT PAPER CURRENCY IS NOT THE ONLY TENDER THAT MOST ALL COUNTRIES HAVE
kmiller68: If, in fact, the CBI is independent, what does any of this have to do with them RV'ing NOW what does all this matter and exactly what are they waiting on?
Millionday: PLEASE REPHRASE YOUR ??? FOR ME I DONT GET WHAT YOU ARE SAYING HUN
Millionday: IT IS A FACT THAT CBI IS INDEPENDENT
kmiller68: then what are THEY waiting on before they RV
kmiller68: in other words what do they have to see before they pull the trigger
Millionday: I DONT SEE THAT THEY ARE WAITING ON ANYTHING -- WE JUST DONT KNOW THE DATE ---
IT APPEARS THAT THEY ARE PREPARING THE BANKING REFORM PER WHAT I HAVE BEEN BRINGING IN TONGIHT
kmiller68: Okay thanks... guess nobody knows for sure
Millionday: RIGHT AND DONT LET ANYONE TELL YOU THEY HAVE THE DATE -- IT WILL JUST APPEAR
Millionday: RIGHT AND THOSE THAT HAVE TO BE EXPERT ADVISORS
justretired67: Fair market equals revalue????
Millionday: FAIR MARKET VALUE MEANS THE REALITY RATE -- AS IT IS CALULATED FOR GLOBAL TRADE WITH ALL COUNTRIES
Millionday: KNOW WE ARE IN A GREAT PLACE AND ALL OF THIS IS IN THEIR MEDIA TO THE CITIZENS
Millionday: WE ARE GOING TO LET YOU GET TO THAT GREAT CALL
BGG & Poppy – Nov 25th, 8:30pm CST Rescheduled to tonite – LIVE CALL!! 760-569-7676 pin#398647