Millionday Newstime May 27, 2015 Part 2 of 2
WELCOME TO MILLIONDAY NEWSTIME
Millionday: The statement said that the committee discussed many topics of economic affairs in question and has taken several decisions, including the approval of the granting of public sector companies the option to deposit their money and open their accounts in private banks, as well as the deposit and the distribution of its employees' salaries by those banks.
Millionday: NOTE -- SALARY ACCOUNTS FOR DEBIT ACCOUNTS AND WIRE SALARIES
Millionday: It announced the approval of the gradual implementation of the deposit of employees and retirees of the Chambers of central funding salaries in private banks, taking into account the need to provide the branches of these banks so as to ensure the provision of services to the beneficiaries of this system, and make sure the conditions of banks in coordination with the Central Bank.
Millionday: NOTE -- COMPLIANCE WITH CBI FOR COMPANY ACCOUNTS FOR PAYROLL
Millionday: It also agreed on the establishment of private banks issuing certified instruments and accepted by the government departments and public companies, with the bank's commitment to providing sufficient balances in their accounts with the Central Bank of Iraq and the lack of exposure, and otherwise the bears banks legal consequences, have been subjected itself to stop dealing with this mechanism.
Millionday: NOTE -THE COMPANIES MUST FOLLOW BANKING LAWS -- LIKE HAVING THE MONEY IN THE BANK ACCORDING TO THIS LOL
Millionday: The Committee also announced the approval of directing all state departments to accept letters of guarantee issued by private banks with a commitment to the regulations and instructions issued by the Central Bank of Iraq and associated with the approval of the Committee on Economic Affairs.
Millionday: NOTE --RULES SENT OUT
Millionday: It also announced the approval of the establishment of each of the Rafidain and Rasheed deposit part of their money with private investment of the funds of private banks in investment projects according to feasibility studies with a sufficient safeguards guaranteed non-refundable and subject to the conditions set by the two banks after studying the financial situation of the private bank.
Millionday: NOTE -- NOW REMEMBER THESE ARE INTERNATIONAL BANKS AND HAVE OUTSIDE BRANCHES ANNOUNCED -- NICE
Millionday: The statement noted the approval of the Trade Bank of Iraq to open credit lines with private banks and under the supervision of the Central Bank of Iraq, on condition taking adequate safeguards and adhere to the ceiling specified provisions of Article 30 of the Banking Act in force.
The statement called on the Ministry of Finance and the Central Bank has adopted the Committee on Economic Affairs Resolution No. S.l / 495 on 11.18.2014 on the opening of letters of credit to the private banks up to $ 10 million (ten million dollars) without going through the Iraqi trade bank.
Millionday: NOTE --TRADE BANK CAN LOAN TO PRIVATE BANKS TO KEEP EVERYTHING ROLLING
Millionday: On the other hand, the Commission stated that according to its statement, the decision to insert the cultivated areas of strategic crops in the liberated areas, which were within the agricultural plan for 2013 in the agricultural plan for this year.
Also it announced the approval of the contract and the Ministry of Transport / General Company of Iraqi Airways with the International Air Transport Association.
The Committee agreed to choose the style of direct call to implement a project of the Central Bank of Iraq building.
Millionday: SO FOR THE SECOND TIME -- THEY ARE FINISHING THE CBI BUILDING---AND THE CONTRACT IS GOING FORWARD FOR THE AIRLINES
Millionday: NICE -- LOTS OF PROGRESS -- THEY ARE MOVING FORWARD WITH LOTS OF THE PLANS WRITTEN AND AGREED ON --GOV PLANS THAT ARE VOTED THROUGH AND MANY CONTRACTS AND INSURANCE -- LOVE IT
Millionday: Prime Minister Haider al-Abadi, on Wednesday, with President Fouad Masomcir military operations and re-file the displaced and national reconciliation.
A statement by the Office of Abadi and received / scales News /, a copy of it, that "the Prime Minister Haider al-Abadi discussed with the President of the Republic Fuad Masum, developments in the political and security situation and the conduct of military operations in the breakers operations."
He added, "it was also covered the re-displaced people and the reconstruction of the liberated areas and file of national reconciliation," noting, "it was a blessed meeting in victories stationed troops on the battlefield to Daash terrorist gangs"
Millionday: SO -- THEY MET TO PLAN THE RETURN OF DISPLACED AND ALSO THE NATIONAL RECONCILIATION CONFERENCE PLANNING
Millionday: Announced Telecom contribute to the owner of the ether for mobile communications ring Company (Zain Iraq), on Tuesday, the Board of Zain Group Management formally agree to put up 25 percent of the shares owned by the Iraq Stock Exchange, usually that this confirms the possibility of "significant growth" in the market Iraqi communications despite the security challenges.
The ring company said in a statement received (long-Presse) a copy of it, it was "announced in 18 of last May its intention to complete the necessary regulatory procedures to ensure the inclusion within the legal period specified in the approval of the listing of JSC",
noting that "the Board of Group Management Zen formally approved the sale ratio of 25 percent of the ring's shares owned by Zain Group to implement the terms of the IPO ring company in the Iraq Stock Exchange, in line with the conditions that have been disclosed in the operating license granted to the company in Iraq by the CMC. "
Millionday: NOTE -- THEY ARE IMPROVING THE ISX SITUATION BY PUTTING UP SHARES OWNED 25%
Millionday: HUGE TO SEE THEM BRINGING THIS BACK TO THE POINT THEY WANT IT AND THIS TIMELINE -- VERY ENCOURAGING FOR THIS TO BE A NEED RIGHT NOW
Millionday: I promised the company, that "their presence in the Iraqi Stock Exchange greatly contribute to strengthening the overall value of the market, estimated lead to exceed ten billion dollars for the first time in the history of Iraq,
" indicating that "it is a catalyst to attract foreign investment to Iraq Stock Exchange, where that ring the company will join the 95 other Iraqi company traded on the market today.
"The statement quoted the Chairman of the ring Company, Mohammed Jerjfja, saying, "The inclusion of the company's shares in Iraq gives investors the opportunity to participate in one of the most successful companies and stand with us as we move toward the next phase of development and growth."
Millionday: NOTE -- HE GOAL IS THE NUMBERS IN STATS FOR IRAQ TO ATTRACT INVESTORS
Millionday: For his part, Managing Director of the company seal, and Vice Chairman of Zain Group, Badr Al-Kharafi, said that "the launch of third-generation services in Iraq earlier this year the current 2015, and continuing investments in infrastructure, asserts that the possibility of significant growth still exist in the Iraqi telecom market despite the challenges posed by the security situation in the country ",
According to the company, that "Zain Group announced the establishment was raised as a private ring joint stock company belonging to the Telecom Limited in July of 2013 in preparation for the process of listing on the Iraq Stock Exchange,
" arguing that "the completion of the inclusion of the ring company in the Iraq Stock Exchange means that the company Zain has completed the license granted to the Company's obligations. "
Millionday: NOTE -- THE ISX IS PREPARING TO PROMOTE IRAQ`S MARKET -- LOVE IT
Millionday: The Iraqi Securities Commission, revealed in (the fourth of May the current 2015), for approval to request the inclusion of shares ring Company (Zain Iraq) mobile phone for trading on the Iraq Stock Exchange valued at 450 billion shares, expected to form the addition of "real" In trading operations will be reflected positively on the country's economy, while the company confirmed that it will determine the date and a mechanism to list its shares and raised prices.
The Securities Commission, confirmed in (the seventh of February 2015), the Asian company torrent of mobile phone included more than a billion shares in the Iraq Stock Exchange and achieved good profits for their clients, while confirmed that the two ring (Zain Iraq) and Cork mobile phone what Tzalan their shares have not gradual in the market, CMC has demanded that takes its role in the follow-up to the inclusion of the two companies shares in the market.
Millionday: SO OBVIOUSLY WITH THE SECONDARY MARKET ON THE ISX THIS IS MAJOR RIGHT NOW
Millionday: Member of the committee of economy and investment parliamentary Najiba Najib confirmed "that the amendment of the Investment Law includes housing sector, encourage investment, and addresses the obstacles facing investors. She said Najib in an interview:
"The solutions and treatments for the housing crisis is not at the required level, as we have seen these problems and Chksnaha in the investment conference, which was held last February, and amended investment law certainly to encourage investment in the housing sector because it is very important."
Millionday: NOTE -- THE INVESTMENTS LAWS HAVE BEEN DONE SMILE
Millionday: She explained, "it was the introduction of several amendments to the Act, relating to the inclusion of legal texts to finance housing projects, provided that the interest-free to be able to firms investing in the housing sector of the success of their projects."
She Najib said the "legislation of the new investment law, will address problems that have been investing in the housing sector, including the issue of land, which was repulsive to companies,
whether foreign or domestic work in the housing sector, as it has been addressed obstacles facing investment this sector, in terms of funding, decentralization, as well as an end to the routine in the land question, and address those problems related to the allocation of land to the companies. "
Millionday: NOTE -- INVESTMENT HAS BEEN AMENDED TO BRING HOUSING TO CITIZENS
Millionday: NOTE -- THE HOUSING LOANS MAY BE APPROVED BY CBI -- THIS IS STRANGE
Millionday: non-registration of the land in his name for any reason. "He was a member of the Committee on Economy and Investment parliamentary Ahmed Kanani said early April that "the amendment of the Investment Law, addressed the issue of the completion of the investor of the project by 25%,
and take a loan from the government and the official bank bail the project, shall be 25% [completion rate] guarantor, either personal guarantees do not depend on the descent. "
Millionday: NOTE -- THEY ARE MOVING FORWARD WITH THE AGREEMENTS TO TRANSFER THE AGREED UPON THE LAND TO THE INVESTORS ---
Millionday: THIS IS HUGE HUGE
Millionday: AND SAYS ACCORDING TO THE TIMELINE WITHOUT DELAY
Millionday: He explained Kanani in an interview: "The nature of dealing with the investor when the come in the past, had difficulty procuring investment license and the earth from other ministries,
and this shortened within edited several paragraphs for the purpose of obtaining the land as soon as possible, as it was in the past many paragraphs and now a shortcut for the purpose of speed." .
The Deputy Chairman of the Committee of Economy and Investment parliamentary Harith al-Harthy, in 20 of last March, that the amendment of the investment law, investors will be in service, and the elimination of standard routine in the state dealing with investors circles.
Millionday: NOTE -- THE INVESTMENT LAWS WERE AMMENDED TO MOVEE FORWARD WITH SPEED FOR THE INVESTORS -- NOW THAT WE LIKE
beth: Does that mean that the Investment Laws have been voted through?
Millionday: THE INVESTMENT LAWS WERE JUST BEING AMENDED -- SO IT APPEARS THEY ARE PART OF THE LAWS MOVING FORWARD
TimandJulie: What is your feeling on that the Parliament does not need/or is required to pass laws in order for the Central Bank of Iraq to change to value of the IQD OUTSIDE of Iraq.
Millionday: CBI HAS THE JOB OF RELEASING THE INTERNATIONAL VALUES AND THE VALUE OF THE DINAR IN IRAQ
TimandJulie: ok but what is you feeling do they or do they not have to pass the laws to do so
Millionday: THEY DO NOT
daytrader: Thought the investment laws we're looking for had to do with protection and arbitration etc.
Millionday: ACCORDING TO WHAT THEY WEE CLAIMING TO ADDRESS WAS THE LAND CONTRACTS WITH INVESTORS -- THEY MAY HAVE ADDRESSED OTHER THINGS BUT THIS WOULD BE THE LAST OF IT ACCORDING TO THIS
Millionday: THE INVESTORS HAVE CONTRACTS THAT HAVE TO RESPECTED BEFORE THEY LEAVE ENTIRELY -- ENOUGH WAITING ON RETURNS ON INVESTMENTS
Millionday: THANK YOU ROBIN AND SWAN AND ALL THAT HELPED
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