Millionday news 11/1
[millionday] Expert called banking Samir , to speed up the issuance of the law for Islamic banks and to reconsider and amend other laws related to monetary policy .
He added in a statement to the (morning) that the establishment of a development bank and contribute to the funding of private banks and government to finance large - scale projects and the expansion of long - term funding formulas and the development of financial instruments currently in place will improve banking performance in Iraq.
[millionday] note -- the activation of the development bank
[millionday] Calling for the work and coordination with the World Bank to activate plans for the restructuring of State - owned banks and lay the foundations and pillars of Applied interlock between government and private banks in the areas of development and modernization in the banking business.
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Among banking expert importance of twinning widespread among government banks and private banks, on the one hand and between international banks the other hand, in order to develop payment systems, banking and regulation of financial trading and cash them and the need to complete the project divided nationally.
[millionday] note -- this is the move for the islamic banking laws to be activated and also the electronic banking to get a move on -- in a hurry
[millionday] Pointed to the need to develop and expand banking services provided by banks , which has an average of up to ( 15) service down to (51) service contained in the provisions of Article ( 27) of the Banking Act No. 94 of 2004 , in addition to taking the necessary measures that contribute to increasing density bank which currently stands at a bank branch and one for every 40 thousand people, which is low compared to the global standard for a bank branch and one for every 10 thousand people .
He stressed the importance for private banks to provide syndicated loans jointly and in excess of large capacity for developmental purposes lending any of them , what contributes to meet the demands of this type of loan
[millionday] so this is the electronic banking and islamic banking law being activated in a hurry -- they are calling for the world bank to come to do their part
[millionday] As well as the collection of bad debts by addressing credit concentrations , and focus the efforts of banks in the collection of overdue loans and debt repayment , and to develop appropriate financial reserves to cope with risks . He pointed out the importance of strengthening governance of commercial banks through the application of the Charter of the Organization for Economic Cooperation and Development on practices peaceful corporate governance.
Said importance of establishing companies chock the banking business through the establishment of a company to guarantee deposits in private banks as well as the establishment of a company to ensure credit and follow-up and study the market risk. Calling to develop a plan to achieve future mergers between private banks to create large-scale banking units can occupy an important space of the local banking business .
[millionday] this is the call for the entire process of banking -- they are calling for mergers and also the loans and debt develoment along with the call for the world bank to begin their part and also the application of the charter of economic cooperation along with the corporate banking policies and governing ---
[Flygirl02] MD. I'm confused. I thought you brought article saying banks were ready Ok. Ty
[janiem] million - I was wondering why Iraq's money has to be worth more than it is currently for them to be global. Other countries, such as Vietnam has a low value and they are able to trade with other countries.
[millionday] the truth is in the value --- in order to have an internationally recognized currency they have to show their true value -- it isnt the rate -- it is the truth in what their value is
[janiem] millionday - thanks.
[lorijeanmarshall] millionday Hence why everyone is pissed at China. LOL
[millionday] in comparison in this case to the USD --- smile brb with more
[faith1] millionday true value = their assets ? yes ?
[wilbur48] Millionday who is the oman that called for this -- MAN
[MatCauthon] Faith1 oil production, gold reserves, foreign currencies
[millionday] faith1 it is one of the things -- gdp -- and resources -- bonds -- reserves -- and the rest i will have to look up but yes the economic committee and supreme audit council here we go
[millionday] the point of this is to show you what others think of how close we are
[millionday] Receives the Iraqi consulate in Frankfurt, representatives of hundreds of German companies wishing to operate in Iraq in the areas of development, investment and services , energy, and so to see offers Iraqi facilitators available to foreign companies , especially if the city of Frankfurt is the economic capital of the Federal Republic of Germany ,
and in order to accommodate this expansion in the work of the Consulate I moved from a small apartment to a large building befitting behalf of Iraq and commensurate with the increase in the pace of work and services in the field of dealing with German companies and to facilitate the completion of transactions of the Iraqi community in western and southern Germany.
[millionday] note -- check out flocked
[millionday] In this context, he pointed Consul General, Mr. Ali Al-Bayati told the (morning) to company representatives flocked to the Iraqi consulate in Frankfurt , large numbers of up to hundreds of companies wishing to invest in Iraq.
He in turn facilitate the issuance of visas to investors and companies that they need and encourage the entry of these companies and the completion of projects that serve the economy and the process of development and reconstruction and construction ,
taking advantage of the agreement signed by the Minister of Foreign Affairs with the European Union and the adoption of Germany mainstay because it is the heart of Europe, the center of gravity of economic and implementation as instructed by Prime Minister Nuri al-Maliki commissioned companies for national issuance of the card has also been agreed with companies in the field of electricity and energy and medical supplies, and in the field of air transport there is an agreement signed with the company ( Luft Hansa ) German cooperation and expertise.
[millionday] note -- the issue of visas and also in compliance with the sfa with the eu -- this is great and we are seeing hundreds of companies hmmm
[millionday] It is noteworthy that Iraq has 32 commercial Attaché distributed among the various countries of the world . By 9 of them in the continent of Europe and 17 in Asia , 3 in Africa and one each from Australia , the United States and Latin America.
For its part, state economic researcher said just that there are efforts and Missions plans to open new trade offices in different parts of the world to keep pace with the development of the foreign trade of Iraq.
They noted that this would be the interface of Iraq in countries where there is Missions commercial because they contribute significantly to the definition of foreign investors in the country's investment opportunities are available in the country, noting that the investment is inherently achieve economic growth through the provision of many opportunities in the plazas action.
[wmawhite] millionday exactly...What is it that they know?
[wilbur48] wmawhite they know they can make lots of money
[cookie2] ho ho ho : )
[millionday] wow -- look at the movement there is trade -- the international trade is expected to be huge and they are not playing around -- they are ready to go by the looks of what is going on -- we are looking at the contractors recieving their visas and also the ok to get rolling -- the interface of Iraq is the global trade and effect that they plan to create -- love it seems they know its time to flock -- lol
[millionday] love it brb with more
[millionday] Represents a detailed audit outcome is extremely important in the preparation of the customizations required for each institution , and spread the effects of the delay in preparation for the economic aspects of production and service ,
which led a lot of people interested economic affairs prompted the formation of private companies to audit the accounting , especially as the number of local companies rose after the year 2003 to significant digits . Deputy secretary of the Association of Accountants and Auditors Iraqis d .
Tributary of the pendulum pointed out that the field of auditing the final in institutions and companies is the most important elements of the success of projects and business, for its ability to diagnose the disorder in operations spending Financial , noting that Article 133 of the Companies Act No. 31 of 1997, subject to public sector companies and mixed to observe the BSA financial , either
[millionday] note -- this is talking about the beginning of the huge projects
[millionday] private sector companies located responsibility audited concluding accountants and auditors who have licenses approved by the union, pointing to a defect gets sometimes an audit due to the inefficiency of staff available , which made the union proceed to audit the accounts of some of the companies mixed sector .
He said the pendulum in an interview for the (morning) that the reality of company registration after 2003 saw a big increase without making sure of the reality of these companies and their potential physical , moral , and their capacity to implement relevant business do exist on the ground ?
He pointed out that the number of companies in the country reached 50 thousand companies (40 ) thousand companies, including recorded in 2003 ,
[millionday] >>>>>indicating that the most likely of these companies is a Securities only have no presence on the ground, certain that a hundred companies from this number only listed on the Iraq Stock Exchange . ‘
was the pendulum has pointed out that the formation of a specialized company to audit is possible at this time have the Angels have considerable experience in this area , pointing out that the presence of the auditor is important in economic work , ‘
because he stands at all operations financial and administrative corruption , and can thus create an economic environment capable of promoting production to significant levels .
[millionday] obviously they are working with the commissioner and will be auditing for the value no doubt this is to determine the imbalance in spending -- for the nation not on the micro level
[millionday] He continued , saying : financial accountant in the union seemed oversees the oil service contracts carried out by international companies winning licenses tours set up by the Ministry of Oil , in addition to joint-stock companies and the Association of Iraqi banks.
Certain that the fight against financial and administrative corruption requires choosing the right person who has experience and expertise in the work place . He explained that the country's huge budget and need study the final accounts , so that money can be employed in the right direction , which serves the country 's economy , by supporting the fact the service and productive , which went down a lot from what it was previously.
[MatCauthon] Do uou mean auditing for the value of the dinar
[All4HIM] would that be due to the "sudden" wealth they as a country may have soon?
[millionday] this is for the monitoring of what comes in for the nation -- all accounts auditing what comes in to their accounts -- iraq`s and what goes out and why
[millionday] here we go with parliament
[millionday] note -- i think with the economic news as it is -- is very encouraging -- the launch of islamic banking laws and also the audit set up for international investors and corporate growth -- the governmental gain monitoring and also the flocking to get visas to get in the country to start contracts -- love it all
[millionday] After its success in passing the 6 paragraphs of the proposed law amending the law of parliamentary elections , due to resume parliamentary blocs today its open to complete the vote on the rest of the paragraphs which saw a split in views centered on the reference rate representation of population of the provinces and the adoption of the statistics of the Ministry of Commerce or planning.
The deputies expressed fears that the delay approval of the law and failure to reach a consensus on it may enter the country a new political crisis and constitutional vacuum , the Commission expressed concern about entering a critical stage unless the vote on the law.
[millionday] MP for the coalition of state law, Kamal-Saadi said "morning" , said the parliamentary blocs succeeded in voting on 6 paragraphs of the election law was postponed voting on the rest of the paragraphs to Saturday to give the masses a chance to agree when the paragraph that stopped a " reference rate representation of population in the provinces ,
"noting that the coalition believes that the adoption of the ration card would be more accurate , while the demands of the Kurds and staying blocs that are the statistics of the Ministry of planning is approved . Saadi described the decision above as and strategic ,
refusing waving and accusations that the onus on state law, failure to reach an agreement and resolve the vote on the law at a meeting last Thursday, explaining that the vision of the National Alliance about it related to the provincial benefits that can not be compromised .
[millionday] note -- it is important to have the right and fair amount of seats and also to have the fair amount of input on laws for the nation that effect them all -- this is almost complete
[millionday] here is the issue>>>>>>>>>>>>>>>>> For his part, Head of the Legal Committee Khaled Huani , the National Alliance stressed the non-acceptance of the adoption of data from the Ministry of Planning and wants to adopt the data of the Ministry of Commerce ,
at the time rejected the parties in the same principle of increasing the bloc of seats being contrary to the will of the masses , which seeks to Limbering .
He said a member of the Kurdistan Alliance 's " Center Brief for the Iraqi Media Network ," said the council began studying the figures and population growth rates on the same day in which he made the proposal to determine the number of seats, indicating that the adoption of the ration card in determining the increase in seats will make of the seats in the next parliament 368 while data from the Ministry of Planning determines seats to 351,
believing that recent data more precise legal terms have been adopted in the provincial elections , where identified data from pre-planning in accordance with the amended law in addition to the Federal Court decision which confirms not rely on the data of the ration because it is inaccurate.
[millionday] so are they determined by amount of trade put out or the amount of planning for the areas to determine the amount of seats of parliament -- we shall see on Saturday -- they have a little left to finish hello hun welcome to news time brb with more
[MatCauthon] Politics are the same the world over. Those in power will tty to stay in power at all costs.
[millionday] i want to make sure all of you see this from the meeting in Washington - if you have already seen it -- it is still worth the read
[millionday] In their meeting today at the White House, President Obama and Prime Minister Nouri al-Maliki reaffirmed the strategic partnership between the United States and the Republic of Iraq and pledged to advance common interests to support a stable, secure, and prosperous Iraq and Middle East.
They also discussed their shared commitment to enhance cooperation under the Strategic Framework Agreement (SFA).
The two leaders noted that it has been nearly two years since the final American troops departed Iraq and the United States and Iraq entered a new phase of their relationship, based on mutual respect and a shared commitment to build a strategic partnership between two sovereign nations.
They recalled the thousands of Americans and Iraqis who have given their lives in our common fight against terrorism and extremism in Iraq. The President and Prime Minister renewed their determination to honor the memory and sacrifice of those killed by strengthening our joint long-term strategic partnership across the fields covered by the SFA, including security, diplomacy, trade, education, energy, culture, science, and justice.