Millionday News 11/15/13
[millionday] let me address that the report i brought today was not -- i repeat was not ---- iraq cbi ----- my mistake and i was wrong so at least it makes more sense now but it was from the conference and i assumed it was iraq -- bad assumption sorry about the confusion
[millionday] i have a lot of very interesting things for us to look at – smile very brb
[millionday] here we go -- now i have a bunch of different things i have pulled for us to look at
[millionday] the Iraqi Central Bank has contracted with a foreign consortium to develop the infrastructure for retail payment systems.
Read More Link On Right
The bank said in a statement received by the independent press (Iba) said today "through the pursuit of the Iraqi Central Bank to develop electronic systems that contribute to the activation of banking overall banking system,"
Mbenna that it was "the signing of contract for the construction and development of infrastructure for payment systems, retail on 2/11 / 2013 between the Central Bank of Iraq and a coalition of companies which led the company Bpc to start the actual implementation of these systems during the year 2014. "
[millionday] note -- obviously it will take months to get it everywhere
[millionday] The statement continued, "This event is an important achievement as being of national strategic projects related to the development of electronic payment operations in the use of credit cards from inside and outside Iraq and through a mobile phone, which is reflected positively in the development of the banking system and elevate it to the ranks of advanced international regulations."
Since 2003, Iraq was delayed in the development of banking regulations in spite of holding conferences and the launch of several statements on the development of such systems.
[millionday] now remember that we have seen this and talked about it but wanted to bring it due to other things i have
[millionday] this is very interesting as it is the entire monetary policy but i am just bringing the last part
[millionday] last steps and also remember they are in the middle of the conferences that they just mentioned now
[millionday] here is this and it is a power point of the entire monetary policy i will give you the link after for you to read if you like
[millionday] orientations of the Bank for the coming years in light of the results of analysis of the Bank's current and take advantage of the results adopts Bank plans the following:
A - policy: - strengthening the role of monetary policy of the Central Bank of Iraq to provide opportunities for the stability and success of the national economy as the only policy that is unique in addressing inflation and reduce annual rates of increase in the general level of prices and the strengthening of stability in the financial system at once. –
Maintain monetary stability within the framework of the directions of the National Development Plan 2010-2014 towards achieving comprehensive development and the commitment to achieve the targeted economic indicators. - To stabilize the exchange rate of the Iraqi dinar in the context of a flexible exchange rate regime orbit.
[millionday] B - the field of banking and financial institutions: -
periodic review of existing policies to make sure of the suitability of the objectives of the college and international norms and standards with the assessment of banking services, support and development. –
The number of rules and regulations for banking and financial institutions reviewed and developed on an ongoing basis with the application of effective regulatory standards. –
Continue the restructuring program and reform of the banking system. –
To move forward towards the development of the work of banks through diversification of banking operations inside and outside Iraq.-
Keep up with the legal amendments required by the implementation of the Strategic Plan in the area of institutional control over the banking and non-banking which facilitates the activation of supervision by the Bank.
[millionday] note -- notice what we have seen in ink that has happened -- smile
[millionday] Expansion in the creation of companies chock of the banking system, especially the Loan Companies small and medium enterprises, and companies issuing credit cards, electronic payment systems companies.
C - the issuance of currency - moving towards maturation of the project to delete three zeros from the Iraqi dinar, ie the so-called reform of the currency management system (Rebasing). - Update sorting and counting processes, examination and destruction using modern mechanization.
D - the area of financial operations and debt management: -
Work on the development and activation of the primary and secondary market for bonds and equities through: -
the large banks to issue bonds (in the case of government approval). –
The establishment of private banks and private sector companies issuing shares through the central securities deposit system
[millionday] so as you see --- wow -- where does this mean we are ? hmmm with the issue of bonds it seems since this is the end of the whole plan --- we must be sitting in these chairs smiling smile
[no-regret] is this all from one report
[millionday] this is not a report -- it is iraq`s monetary policy the reform
[millionday] no the end of the monetary reform
[ronanmo] millionday,,,how much longer can they possibly hold out...
[millionday] exactly --how long? Smile brb with more
[LBnFL] Wouldn't an RV be a step in the Plan? No mention of it in this monetary policy.
[faith1] thought I read that the bonds to start next year,,, hope i'm wrong!!
[millionday] - The governor of Basra, that the expansion work taking place in Iraqi ports increased capacity to one million containers annually. Said Majed Nasraoui in a press statement on Monday,
"The Village project logistics port is currently in the ports of Basra in Umm Qasr shares in the development of the Iraqi economy after being granted the opportunity to re-assembly inside Iraqi territory and shorten a lot of procedures disruptive," adding that "the village logistics will provide More than five thousand new jobs for young people and graduates. "
[millionday] He added that "the capacity of ports they do not exceed 59 thousand containers annually while, currently to one million container variety," pointing out that "it represents ports after all these developments it occupies second only to oil in supporting the national economy
[millionday] wow and as we know 20 billion came from none other than china --- just saying wake up US of A -- lets get it rolling -- money to be made brb with more
[millionday] A member of the Finance Committee praised the MP for the National Alliance Secretary Hadi initiative of the Government of Iraq's re-political and economic relations with neighboring Turkey and Saudi Arabia to it Stnf the country's economy and achieve common interests with these countries.
Hadi said (of the Agency news): The Iraqi government is seeking to open a new page with all countries of the world, especially with Turkey and Saudi Arabia to achieve economic and political interests in common.
[millionday] He pointed to: that economic relations between Iraq and Turkey in the original it exists, but economic and political relations with Saudi Arabia, non-existent, despite the presence of Saudi products in domestic market Kalajpan and dairy and so on.
He added: that the Iraqi improve relations with various countries of the world Stnf Iraqi economy in terms of sharing experiences and providing aid and advice and take advantage of technological developments to serve the national economy.
[millionday] obviously as we see --- saudi arabia meeting must have went well -- they are pushing to have trade relations and we love it due to the resemblance in their trade
[millionday] i am pulling from everything i have so have patience --- working for ya here as far as our investment this is a yay
[millionday] some of course are going to think of our economy and many other sides to this but as far as the investment -- this is good
[millionday] He said the Kurdistan Alliance MP Mahmoud Othman, said that "American officials, trying to coordinate efforts between the Peshmerga forces and the Iraqi army and police to manage the security file in the disputed areas." Osman said in a statement the "Moscow news agency", that "Vice President Joe Biden, the U.S.
In the last connected up with Massoud Barzani, president of the Kurdistan region, the country's efforts to strengthen cooperation between the region and Baghdad to fight terrorism in the country."
[millionday] note -- the US of A is coming to stop the violence in order to move past the terrorism so they can move forward with the reforms and have peace
[millionday] Osman said that "U.S. forces in Iraq, was running the security file in the disputed areas with the participation of the Iraqi army and the Peshmerga, and it is seeking Washington today to engage the region and Baghdad in the face of violence newcomer to the region and the conflict in Iraqi cities on a daily basis."
[millionday] so i understand the very different feelings about this but reporting on the investment says they need this for peace and to minimize terrorism smile brb with more
[LBnFL] millionday I hope we do not have to wait for them to achieve peace
[millionday] this is for the borders by what i see
[Godsalli/Jim] The largest petroleum company from Britain pulled all their works out of country and won't return until security improves. Hope they get it done
[millionday] i agree