Millionday News 7/22/13
[millionday] ok here we go first let me say that it is true the tarriff and customs ammendments have been accepted -- next let me bring the news that i am so excited
[millionday] first part - now understand this is a plan they are discussing and the fact that it is in the media massively is a huge part of my smile
[millionday] Expectations of a number of experts, finance and economy collapse of the dollar is not at the global level because he is still master of the currencies in most countries of the world but at the level of the exchange rate in Iraqi dinars, we hope for the return of Iraqi dinar exchange rate against 3.3 dollars as it was, but this dream difficult to achieve and fetched it is can be achieved in the light of the global variables but can be achieved to get into a price equal of any one dollar against the dinar.
Read More Link On Right
[millionday] nice and that would be around the Kuwaiti dinar as well actually less - so lets look at the whole report -- lots of info in it
[millionday] The second can be achieved gradually, if we have a good deal of this spirit of cooperation between the central bank and private banks, while this cooperation led to the oscillation control which hit Sarsrv dollar these days.
Frouhah joint action and application instructions and procedures aimed at the central bank by private banks contributed to this done and required perpetuate this deal with crises and work in a spirit of team work one to achieve the common goal Alaoho achieve stability in the exchange rate in order to Aaneks on the performance of the Iraqi market trends inflationary for consequences.
[millionday] now lets look -- they were told to prepare a new pricing column
[millionday] Response conscious by private banks and support for the crackdown of the central bank contributed to the reduction of the dollar exchange rate against the dinar and return to prices prevailing before the crisis, the central and its repercussions were measures to reduce prices by banks to less than planned contribution to stop the fluctuation in the exchange rate and continued measures reduction at the expense of profits banks that the price reached 1180 dinars last Saturday but emerged this time is a healthy phenomenon by banks are competing in terms of reduction of the Gulf Bank told us an hour to prepare this new column yesterday cut one of Namira so since this day is sold to 1179 dinars.
[millionday] Thus permission required to deal with this vital and important, and administration was the old central bank is trying to deliver Sarabv during the current year to 1,000 dinars, but the circumstances that engulfed prevented achieved, we see the possibility that the new administration to achieve the target if the pace of handling and dealing with private banks This upscale style by the Central Bank.
There are indications require access to this price, which is not the last but followed by a reduction of new progressive as I said until we achieve equal Aotsawi the real value of the Iraqi dinar due to other currencies and the qualifications of the Iraqi economy and its potential is considerable and help to reach the exchange rate dinars per dollar in stages expected to experts be determined in three years, subject to increase and decrease, respectively on the circumstances.
[millionday] obviously this plan did not come to pass and they did not set the dinar rate at 1000 before the activation of the monetary policy
[millionday] That expectations about the possibility of the return of the power of the Iraqi dinar but brings hope to achieve this, but what can we explain the exchange rate so in a country wealth, earth-shattering, these expectations were built on perceptions of experts that Iraq would emerge and salvation from the provisions of Chapter VII but
to achieve reform and economic stability and to achieve the goals all, particularly the return of Iraqi dinar to the real strength of this vision and perceptions should be accompanied by better performance of denial and efficient administrations.
[millionday] We believe that the stability of exchange rates one of the most important means of achieving economic stability, the central bank and banks the responsibility for achieving the goal of price stability and the return of the real value of the Iraqi dinar to the dollar collapses fact in front of our national currency.
lorijeanmarshall] millionday Does this mean they would raise the exchange rate over a period of 3 years? reach the exchange rate dinars per dollar in stages expected to experts be determined in three years, subject to increase and decrease, respectively on the circumstances.
[millionday] lorijeanmarshall no -- that is what they were planning to do and didnt get done
[millionday] Economic expert said that there are potential for the private sector should be taken into consideration, including that there is a trend toward a market economy as well as the existence of investor incentives, including tax breaks and legislation that would stimulate the private sector.
D said. Akram Mohammed "morning" that the private sector has the expertise and good potential but needs to issue a set of laws and legislations that help to promote and back again hinting at the need for cheap credits and lending create soft loans to the private sector
[millionday] Guided by the experience of Southeast Asian countries and how to follow a general policy to encourage the private sector in the sixties and Sbieinaat and how the volume of industrial development in these countries, calling to benefit from this experience and reversed in Iraq.
[millionday] this is very exciting
[LBnFL] millionday So you think it will really come out at a fixed $3.30?
[millionday] no this is what i think
[millionday] this is saying that they planned to have 1000 at the rate and then move it to 3.30 but
[millionday] they were unable to get it there so the rate will be a little different but around the rate they had as a goal -- this is what i got from the statement - either way this is fantastic smile
[millionday] if they are talking rates in the media -- we are close brb with more
[wmawhite] millionday ...but they keep referring to parity with the USD...1 to 1...........first???
Papatom] wmawhite to the people...they do....about buying power....rite???
[lorijeanmarshall] wmawhite I would think that is the street value in Iraq
[millionday] here is something else explaining it
[millionday] Said one of the private banks for reducing new exchange rate of the dollar to 1179 dinars after it was recently reduced to 1180 dinars.
And the administration has decided to Gulf Bank to do this reduction in response to the measures the Iraqi Central Bank to maintain the stability of exchange rates in order to serve the country's economy.
Said the chairman of the bank Munir Hassan al-Jubouri told the (morning): The possibility of citizen access to the dollar at a discounted price for the specified price in order to control the fluctuation of prices, service to our national economy and
[wmawhite] lorijeanmarshall lorijeanmarshall Papatom ....concur...........but that would be the jumping off point to change the international rate. IMO
[millionday] now read this part
[millionday] protect consumers from high prices of products and different materials. was the Association of private banks in Iraq announced yesterday for the Assyria and Baghdad bank exchange rates reduced to 1180 indicates that the private banks compete to achieve stability and desired scheme.
indicated that there are technical measures taken by the central bank and backed by private banks to lower exchange rates to new figures.
[millionday] so this is saying the same thing -- cbi is taking measures to bring new figures
werblessed] Million sorry. Please give me one more chance to understand that
[millionday] werblessed >>>>>>>>>>>>>>>>>>>>>>>>> indicated that there are technical measures taken by the central bank and backed by private banks to lower exchange rates to new figures.
[millionday] werblessed smile action not talk
[werblessed] I like that. Thanks. Smiling
[millionday] here comes the laws voted through today
[millionday] here we go-- House of Representatives voted on Monday to 8 laws and decisions, as well as an end to the first and second readings of four bills.
At the beginning of the ninth session of the first legislative term of the fourth legislative year, which was held under the chairmanship of Osama Najafi, head of the House of Representatives and in the presence of 243 deputies,
said Najafi hold a special session on Thursday to discuss the security situation in Baghdad and Diyala in the presence of senior officials in the two provinces. President of the Council also called on the parliamentary investigative committees formed, particularly the Special Committee of the death of Karbala coach to speed up the submission of their reports to the House of Representatives.
[millionday] After Parliament voted on a draft law amending the Law seizure of contraband and forbidden traded in local markets (18) for the year 2008.
The House of Representatives also approved a draft law regulating the rent of agricultural land and ownership of the right to dispose of agricultural graduates and veterinarians. On the other hand, the presidency of the parliament postponed the vote on the draft Official Language Act and provided legal committees, culture, media, financial and Education and Higher Education, pending the completion of the check. The Council also ended the vote on the bill the second amendment to the Customs Tariff Law No. (22) for the year 2010.
[millionday] Yesterday's session saw the vote on the prevention of MP Mahmoud Hassan from participating in the work of the House of Representatives for violating the rules of procedure for the submission of a written apology.
The Presidency also decided to postpone the vote on the nomination of the members of the Appeals Chamber judges responsible for hearing appeals on the decisions of the Accountability and Justice Commission and sponsored by the Legal Committee to a future meeting.
However, the parliament voted to take Falah Hassan Chanchal chief of accountability, justice and Bakhtiar Omar Mohiuddin vice president.
millionday] so we have the chief and the vice for accountability and justice huge - huge
[millionday] . According to a statement issued by the information department received »Sabah» copy of it, the Council completed yesterday the first reading of a proposed law amending the election law, the House of Representatives (16 ) for the year 2005 and the report of the Legal Committee in order to conduct free and fair elections and conduct high level of transparency for the purpose of representing the will of the voter truly representative and to allow fair competition and away from external influences for the purpose of improving the political process.
then completed the first reading of the proposed law to reverse the decisions of the Revolutionary Command Council (defunct) numbered (1021) for the year 1983, (197) for the year 1994, (145) for the year 2001 and the report of the Legal Committee of the fact that decisions are incompatible with the principles of the rights and fundamental freedoms contained in the Constitution,
[millionday] which guaranteed to citizens belonging to trade unions lawyers, especially judges who have a long service in the judiciary . well as the House of Representatives ended the second reading of the draft law on the first amendment to the law of the Agricultural Credit Fund for peasants and small farmers (28) for the year 2009 and the report of the Agriculture and Finance Committees.
[millionday] so they are working at rapid speeds to say the least
[millionday] Allocates the Council of Ministers its day to file search power in the country, as well as other important issues. According to the Secretary General of the Council of Ministers Ali Mohsen Keywords, the "Council of Ministers will discuss at its meeting on Tuesday to establish (3) companies for oil services and transportation of crude oil and gas capital of (500 ) billion Iraqi dinars. "
Keywords said in a statement received "morning," a copy of it, "The council will also discuss the assignment design, processing and implementation of the central treatment plant in Akkas," noting that "the Council also will discuss the proposal at its meeting announcement Central Marshes nature reserve."
[millionday] i also read today that kurds and iraq are reaching an agreement on all oil policies --
[millionday] obviously they need to get on the ball but this is not an issue imo with the many agreements and contracts written and also the backing of the constitution
[millionday] we know what this means as far as the movement of money but it is written in %
[millionday] brb with more
PART 2 CONTINUED