Millionday news 5/25/13
[millionday] alright everyone -- news is good tonight alright let me say one thing first it looks like they are getting it ready to go -- only thing that makes sense right now so lets look at a few things
[millionday] for one ::: cbi is saying they are entering the new monetary system in june -- which is a week away or so
[millionday] for two :: they are moving everything rolling for a free economy
[millionday] lets look at this
[millionday] Seeks specialists to develop the reality of Iraq's economic through the study of the legislation of new laws in line with the phase experienced by the country to shift from a centralized economy to a market economy, as it requires the transition phase - according to specialists –
to make changes to many the most important changes in the Angels Administrative because it has an impact on the formulation of legislation and important economic laws.
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According to experts also the legislators fear of collision with laws and administrative regulations that limit their powers in the legislation of laws and therefore, the laws begin to be incomplete technical aspects of making the implementation or application on the ground is not possible,
and the best proof of this Investment Law 13 of 2006, which conducted by the amendments more than once. attributed the academic economist at the University of Baghdad Essam the reluctance of Iraq's transition from a centralized economy to a market economy to
[millionday] note transition phase
[millionday] the lack of a change in the Angels administrative they obstruct the transformation process of being secured system of centralized economy only and to not possess expertise in a free economy.
He said in a statement (of the morning) that red tape and corruption are two reasons Alhakiqian the deterioration of Iraq's economy, as well as a weakness in some economic legislation into law investment, for example, who underwent it a few adjustments in a short period while it was a duty that have contributed far in attracting many foreign investment companies.
[millionday] so just the few adjustments they have made have brought in many investments -- meaning the minimizing of all the red tape
[wmawhite] millionday ........it is a confirmation of changing to a market economy.
[millionday] yes it is and with the activation of the new monetary system and the sanctions on the table of the UN --- it looks like we are coming around the corner within a small timeline smile
[millionday] For his part, the Registrar of Companies legal Adel Nassif: the Companies Act No. 21 of 1997 as amended the legal provisions that help to develop the legal framework for the beginning of the investment process through the establishment of businesses of all kinds.
He (morning) that its provisions also allow the opening of branches and offices of companies and economic institutions, foreign, stressing that the legal framework is the basic building block for the construction of Investment trusted, pointing out that the Investment Law No. 13 of 2006, as amended, and the regulations issued thereunder reinforce and complement it.
[millionday] love it the companies act and the provisions it applies -- huge
millionday] He pointed out that to say otherwise, and as it came to company law, it has the actual need to issue instructions for the purpose of facilitating the implementation of its provisions, which did not issue / unfortunately / Up to this day, except for instructions Mojtzih belong to one topic at a time when you need to explain and clarify the statement of procedures Many of the various provisions contained therein.
[millionday] so the who -what --where on the provisions -- they certainly have enough out there for help to apply it successfully
[millionday] In the same context, the researcher emphasized economic Suhad virgins that Iraqi law firms still works in a central system, as well as that it limits the freedom of action of the private sector in the development process.
He said in a statement (morning): The spiritual central system controls most of the Iraqi laws economic so that a sufficient room for the freedom of the private sector and other covalent activities, to move smoothly, and that most of these laws do not allow the establishment and establishing relationships involved between the public and private sector framework is true, because the law firms still take into account the dominance of the state economic sector in all his joints.
[millionday] note -- we have to understand that the education system must be taking a huge change as well as the law ect of course that will come as it goes -- not a hold up by any means
[millionday] She added that some administrative regulations, instructions and laws even make a number of lawmakers fear the intersection of those regulations and overlap with each other, causing a clear deficiency in the enactment of an integrated easy to implement and apply it on the ground and to serve the economic process in general.
Athari demanded to discuss the proposed amendments to the Companies Act through workshops and seminars held between economic occasional and send notes to a group of parliamentarians for the purpose of discussion and inclusion within the proposed economic laws for the purpose of legislation and to serve the economic process.
[millionday] note -- so they have decided to give them training resources -- paperwork on the laws and also seminars to inform and minimize the gaps in the changes and the past – economically because they are really in the process now to go into the transition
[wmawhite] millionday ...it appears that the concept of forming a private entity (company) is still a strange concept to them.
[millionday] yes -- it is hard for them to understand -- the data system will help and also reading and learning and research as we have to do
[millionday] On the other hand called on Chairman of the Board of Trustees of Iraq gathered 2020 Anbure the competent legal departments to deal seriously with the laws of economics studies, carried out by the assembly.
The Anbure told (morning) that what matters to us is to take the studies and observations on the laws their way into legislation and not deposited in the inclusion of offices responsible under the shadow of political pressure, and said he would be futile of these papers unless take chance of the debate seriously with the decision-makers.
[millionday] they have decided that all the data having the same information handed out will be the best step -- so forms in hand in other words this is great great and great smile brb with more
[millionday] this is how close we are and this also verifies all i just told you global licensing and then some
[millionday] Iraqi Central Bank stressed the need to adopt advanced banking systems Genuine license from international companies internationally accredited contribute to activating the domestic banking activity came during the economic conference organized by Microsoft in collaboration with the Central Bank.
Aamir Faisal Shaher Director of Information Technology at the central bank said in an interview for the (morning) to the importance of the advancement of the sector banks through the adoption of advanced systems, especially that our plans include the adoption of technologies advanced banking as the best and be all systems according to the licenses of the companies original producer of these regimes.
millionday] goodness -- whooop whooop
[millionday] He added that the central bank Usher importance of this conference embarking to care and workshops with Microsoft Corporation mechanics of adoption licenses original guaranteed that contribute to the development of the domestic banking sector and reduce the gap between our sector bank and banks in the world through the adoption of electronic systems integrated obviate the need for paper in the future.
[wmawhite] millionday millionday .............wow....they are going paperless......lol
[millionday] and so is the world i bet --- very interesting how advanced iraq is going to be by activating a whole system as the goal is for many in the future -- this is going to be very interesting to this little book worm
[millionday] Also contribute to cutting-edge original licenses at ease dealing with global banks and their subsidiaries that develop in the future in Iraq because the regulations are close or the same previous regimes supported locally, especially that many global banks realize the importance of working in Iraq and the presence within the field of the local economy.
He continued, saying comes this forum as a result of close cooperation between the CBI and the Federation of Iraqi private banks with Microsoft and palm leaves, and highlighted Microsoft's commitment to provide permanent support for this sector, and this is a big step entered with technology a key factor in the Iraqi institutions and the banking sector in particular
[millionday] note -- this is so huge and they are obviously advancing forward
[millionday] But Firas al-Obeidi, business manager of Microsoft Corporation in Iraq, he said that the company produces windows Systems and used in Iraq, pointing to the company's own sophisticated systems in the banking sector raised at this conference that will promote banking work from paper to electronic integrated.
He pointed out that the focus on the adoption of licenses original that provide protection techniques and banking systems adopted by the banks, pointing to the attention of the Central Bank, including subtracting from technologies advanced banking building banker who hoped to enter licenses Genuine to Iraq through a company Juraid agent Micosowic world.
[millionday] wow – Obeidi they have been very busy behind the scenes as we expected here are the steps to the global licensing and the activation of economic reform -- banking -- ect
[millionday] He noted that the stages of the adoption of these systems require several steps, including cooperation agreements with banks is available from which the original licenses for the advancement of banking products and then provide technical consultancy and technical building systems.
This forum also aims to clarify the benefits of programs and applications Microsoft's company to build and develop the work of the banking institutions in addition to the technical value gained by banks through the use of programs that are proper and safe and licensed to reduce the problems that disrupt the work of banks as a result of the use of pirated software.
millionday] last part >>
[millionday] also they will apply this to all they have in order already as far as banking and international contracts ect but their data system is in place so it is nothing like what we have seen in the past and it is just the application
[millionday] As well as the development of the scientific and informational cadres banking and upgrade them through the provision of banking services, modern and safe for customers facilitate their banking daily.
Said Amin Nizamuddin pigment CEO of palm leaves, that technological progress has become one of the major factors for growth in the banking sector for this now focus with Microsoft on how to develop the Iraqi banking systems to conform with the technological developments in the region to provide services in accordance with the wishes of the customer.
And our constant endeavor to build a genuine partnership with banking institutions to all and consulting services that elevate the work of banks and enable them to serve their customers better relying on international electronic service standards.
[LBnFL] millionday "Said Amin Nizamuddin pigment CEO of palm leaves"?
[millionday] so they are obviously going to gain some of this through building relationships with international banks and companies ect i think maybe some of their names translate a little strange lol we have seen worse that is the sad part smile brb with more
[millionday] Conclude the day of the World Economic Forum, which was inaugurated Friday in Jordan, which was held entitled "Strengthening growth environments and economic resilience.
" The conference was attended by head of the Islamic Supreme Council Ammar al-Hakim as well as Palestinian President Mahmoud Abbas, and the Secretary General of the Arab League Nabil Elaraby, Secretary-General of the International Energy Forum Aldo Flores - Quiroga.
He said the statement issued by the World Economic Forum yesterday, the forum will discuss three key areas: new partnerships for employment, entrepreneurship and infrastructure, and strengthening economic governance, and strengthening regional cooperation and flexibility.
[millionday] so all we are seeing is huge progress as you see whooop whoooop
[wmawhite] millionday .....interesting,.....Iraq is now being included as a possible solution to the region's issues.
[millionday] going to see if anything else is exciting -- brb
[LBnFL] millionday Did you see the article Belabun posted earlier today regarding the plan next June to increase the rate? And could you please comment on it?
[millionday] i saw that the cbi has stated they are applying the new monetary policy in the beginning of june '
[millionday] National Alliance saw the need to end the demonstrations and sit-ins in Anbar and Nineveh to the success of the elections in these two provinces next month. But the Iraqi List, called on the demonstrators to continue and not to withdraw and to cast their ballots.
The Electoral Commission for elections announced its readiness to hold elections in the provinces of Anbar and Nineveh in the 20th of the month of June, after announcing that the Council of Ministers approved the request of the Commission to hold elections in this time instead of the Fourth of July.
National Alliance MP Abbas al-Bayati endorsed the Commission's decision to hold elections in the provinces of Anbar and Nineveh in the twentieth day of the month next to the people choose their representatives
millionday] we are so close it is nuts
[wmawhite] millionday .....may I post something..........an opinion.
[millionday] the sit-ins are over in june – wow is it your opinion ?
[wmawhite] For what it is worth: I believe that the CBI has drawn in as much of the 000s as time will permit, thus ending the RD prior to the change in the exchange rate of the IQD. I also believe that we will see this change in the rate prior to the gradual release of the lower denoms.
[wmawhite] Let me explain why: when the IQD exchange rate changes outside of Iraq it will only affect those who exchange their IQD for another foreign currency.
When the IQD changes its rate, the average Iraqi citizen will not see its effects for several weeks. Again, the Iraqi citizen who has 1,000 IQD in his/her pocket still has only 1,000 IQD. Remember, the Iraqi citizen is not running to the bank exchanging for euros and flying to Paris.
[wmawhite] The rice, bread, etc. that are currently on the shelves have already been imported and paid for by the merchants.
Those prices on the shelves will not change. However, a week or two later as more of those staples (rice, bread, milk) are imported at cheaper prices those new prices will be reflected on the shelves.
Why is that……..because the IQD will be worth more, thus the rice, bread, milk, etc. will costs less for the Iraqis. This is when the lower denoms will start to be released into the market place.
[wmawhite] Thats all folks
[millionday] i agree with some of that
[wmawhite] ty Either way,.........we are close.
[millionday] i do believe that the rate will be instant and the lower denoms will be rolling in as the need for the banks come to its time -- within a short time but i do not agree with the pricing with the plans they have in place for that -- but the 000 is do agree they have begun the pull of all access as well
[millionday] good point my friend oh very close -- brb with more --
[wmawhite] It is really difficult to discuss something as this on a chat site.
[millionday] right -- sometimes it doesnt come out right i understand what you were saying though -- very well written hun
[wmawhite] millionday ...thanks
millionday] i agree -- we are so very close -- obviously with international licensing and activation going on the rest is just opinion pieces but oh how good it was great news night wow is this going fast now
[millionday] have a great night and if i get anything else i will be back