Millionday News 9/29/13
[millionday] this is the second day of the conference that we are looking at
millionday] Considering the number of bankers on the second day of the first Iraqi banking conference ways of upgrading the Bank, particularly with regard to legislation governing the work of commercial banks, and to propose remedies to address the determinants of development, especially after the Prime Minister expressed readiness to support the banking sector legislative and administrative.
The Executive Director of the Association of private banks in Iraq Abdul Azizi hasoon said that the Conference is the first of its kind in the country to address the determinants of development banking in the country and create an ideal environment contribute to the transfer of advanced banking technology to provide the best services to the beneficiaries, especially the Prime Minister,
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[millionday], in a speech read on behalf of promised to adopt proposals that emanate from the Conference and contribute to overcoming the obstacles to development.
He said that the banking sector needs to justice in the application of laws and regulations and instructions, and to require banks to use modern banking systems for the purpose of compatibility with systems of clearing and payments managed by the Central Bank of Iraq, as well as requiring banks to adopt in their work.
[millionday] note -- they are ready to have the compliance regulations in place for global banking
[millionday] He highlighted the importance of a professional Charter between Government and private banks under the supervision of the Central Bank of Iraq and the formation of a permanent Coordinating Committee to follow the flow of transactions between parties to the banking system,
noting the importance of ending by financial and monetary authorities and other authorities of the smear campaign against the Iraqi banking system, which influenced greatly his reputation and led to shake confidence and stop the threat of punitive action and boycotts by State banks to private banks.
Finch said that the Iraqi banking system differs from the instances in the neighbouring countries, consists of Government-owned banks and other private sector, although this difference extends to the long decades the economic and policy developments in Iraq affect clearly the reality of banking,
the Royal authorities to state banks increased extremism in dealing with private banks to interrupt proceedings and most significantly the overall performance in Iraq has ignored this
[millionday] The device is a single entity is not valid and cannot be considered as sections or parts. The excellence in monitoring and supervising the work of banks must be completed in order to streamline banking upright necessary among all banks.
In particular, the number of banks currently exceeds 50, 43 and seven Government-owned, and includes a number of private banks, foreign bank branches and foreign Arabic and 11. And exceeded the number of branches of these banks (500) and the employees (11).
[millionday] note -- they are stating that they want constant compliance and also coordination with the gov banks and private
[millionday] this is how it will apply to the globe
[millionday] Tawfik Arabic one bank manager Mortada working in Iraq said that the Conference is a good step to draw a roadmap for the growth of Iraqi banks and contribute to closer cooperation between private and State banks,
pointing out that the bankers with legislative meetings is extremely important as they contribute to discuss legislation that would promote banks and allow them to exercise greater activity than it is now.
He said: we as foreign banks entered the Iraqi banking market found some banking matters somewhat distant global applications international, emphasising that our attendance to the Conference come to attention of the banking sector to contain Bank development parameters, which are the most important elements of the overall economic recovery.
[millionday] note -- the changes will be finding small needs as they go so this is just the statement saying that are getting set up and reporting what needs they have
[millionday] this is about the dinar value --
[millionday] While the Director of statistics and research Walid Idi Amin Abdel Nabi said the current monetary policy successes in achieving long-term stability in the value of the Iraqi dinar, as well as falling inflation to 5.6 percent in 2012 as well as building a strong foreign currency reserves back Dolly to the Iraqi currency, integrity and protect the balance of payments of the external shocks and, on this basis, the Government's economic programme achieved significant success in its monetary policy has played in achieving its objectives as text The Central Bank of Iraq Act.
[millionday] note -- they are saying that the job they have done of keeping everything stable and constant was done well
[millionday] this is about the progress in all understanding the policy and what their part has been in this and also the training --
[millionday] He stressed the Islamic banking Sadeq Rashid on the importance of supporting Islamic banks by Governments issued laws and regulations suited to their banking and Islamic banking law and this makes the spread wider and more attractive and stable, and the strengthening of cooperation between Islamic banks and central banks,
with the need to be clear independence of monetary policy by the Central Bank through the creation of a watchdog style consistent with the nature of the work of the Islamic banks for being subject to regulatory instruments for commercial banks by the Central Bank and in particular the legal reserve and the price Discount, credit ceilings and open-market operations and debt securities and lender of last resort.
[millionday] note -- this is saying they need to minimize confusion by having differed regulations with central banks and the islamic banks
[millionday] And on the question of (the morning) about the importance of the Conference, said Chairman of Ashur trade repository bitter melon: the first bank dedicated forum discusses promotion mechanisms in all cases will come something positive to banking services provided to the public.
The arguments made by many bankers in this Conference, which meets in the public and private sectors and the legislative bodies formed a real idea about the constraints that limit the development process, which should be handled through cooperation between the public and private sectors.
He pointed out that the banking sector needs to support its mechanisms by allowing him to take a broader role in the investment process and development, pointing out that this needs to be a legislative amendment allowing the investment of money supply to private banks in different investment portfolios have many positives to the local economy, so will work on one
millionday] so as we see here -- the conference was very important and it was to launch their banking reform as smoothly as possible as they join the globe and get these banks up and rolling along with their own brb with more smile
[millionday] cbi has not been making constant comments so here is the one made today
[millionday] Iraqi Central Bank announced, to discuss the report of the Arab Monetary Fund, noting that it came in the normal course of the session 37 of the Council of Governors of the central banks and the Arab Monetary institutions.
The bank said in a statement issued on Sunday, said the bank had discussed the report of the Arab Monetary Fund and the draft Unified Arab Economic Reports for the year 2013, the agenda of the Board of Governors of the banks.
The statement added, that the Bank Governor Abdul Basit Turki usual attended the session 37 of the Council of Governors of the central banks and the Arab Monetary Institutions and conducted its business in Abu Dhabi on Sunday brb with more
[millionday] this starts out as seeming a little boring and may not matter but lets look at it all -- smile
[millionday] General Manager announced direct public Sawari the experimental operation of the new productive line for the production of rock wool panels types and different sizes and types of high and conform to standard specifications and customized .
The general director of the company safety Darraji in a press statement : This product line is one of the most important new lines that have been developed in the company for the production of rock wool in the form of shingles instead of production in the form of rolls as in the past to keep up with the requirements of the domestic market and to meet the needs of the country's ministries all especially the ministries of oil and electricity and Construction and Housing in addition to the private sector
[millionday] . pointed out that the company's unique production of material , rock wool and it has the only factory in Iraq and that production of the new shingles Rockwool specifications and quality high and is identical to the testing standardization and quality control will be a strong contender for that of the importer ,
which is often Maicon qualities poor and is not subject to examination. and articulated Darraji about the intention of the company new product launch through its participation in the activities of the Baghdad International Fair for the current session and to prepare an effective plan for marketing in all provinces. ,
and pointed out that the company is directed to establish a production line last to expand and increase the production capacity of panels , rock wool in the future , including
[millionday] as we see this is now talking about the entry of a new product for the nation and the movement with industry there is more
[millionday] including insures full coverage needed state institutions and local market development and the reality of the company and its performance and financial productive so that they can afford the salaries of its members and the advancement of its national industry .
For his part, Assistant General Manager Eng Yassin Hassan Shabib that the company has contracted with a company Iraqi processing , installation and operation production line new production shingles rock wool from Bnltk English Card 4 tons / day and the value of (913 ) thousand dollars from the allocations of the investment plan for the year 2010 ,
indicating that the material rock wool produced characterized their efficiency high thermal and acoustic insulation and withstand high temperatures in addition to the uses of industrial and agricultural Other, stressing on
lorijeanmarshall] new product for the nation...... I that means what I think it means!
[millionday] oh yes that part is talking about a new product and also the compliance on adding industrial production -- very important and also shows advancements in place] smile
[millionday] the availability of potential for the production of several types and different sizes and customized to meet the needs of the ministries of oil and electricity, Construction and Housing and companies and the Ministry of Industry and the private sector.
He said the cadres of the company is specialized in factory Rockwool of engineers , technicians and synchronizing the execution of the monument and operation of the line productive for the purpose of training and exchange of experience and know the details of product line and note the faults and problems that may arise during the operation , production, and how to address them and to conduct maintenance operations in the future, noting that
[lorijeanmarshall] The money is the new product
[millionday] exactly -- the new product for exporting -- smile -- huge
[lorijeanmarshall] millionday Loving it!
[millionday] the raw materials involved in the production of Rockwool exception of local basalt stone , a substance the company 's import and confounded them enough to produce for an entire year as well as the announcement of a tender for the processing of other amounts so as to ensure the continuity of production and provide the required quantities and meet the needs of all state institutions
millionday] nice >>>>>> as well as the announcement of a tender for the processing of other amounts
[millionday] For his part, Director of the factory Rockwool that the material rock wool used as insulation voice and thermal energy consumption in the steam boilers and power plants , oil refineries, pipelines and industrial furnaces and air conditioning systems
Central in addition to the buildings , condominiums, halls and other as well as its use in agriculture helps soil aeration and increased porosity and therefore good growth of roots and plants, stressing that the material Rockwool global product eco-friendly features his age long and bear high temperatures,
pointing out that the production of the company's current according to standard specifications and subject to testing laboratory and qualities and competitive prices for Mthilath imported .
PART 2 CONTINUED