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Rcookie / Mr White & Hutch News Time 10-25-16 Part 2 of 3
hutch says():ARTICLE 3
hutch says():Government bonds and safe way to save
24/10/2016 0:00 BAGHDAD / Imad emirate is a financial reform imperative to resettle capital and attracting private investment, especially investment indirect, such as stocks and bonds, and require the reform process in this aspect a number of basic steps, including the development of the stock market in Iraq to their importance in activating the role of the private sector in the process of development.
Dr. Emad Mohammed al - Ani said: «market Securities important role in the national economy, as it is not a market only stock trading but have dimensions more than that , and this is what is referred international experience».
hutch says():interest rates
and said al - Ani , in an interview with «morning »that the stock market (bonds) represent a wide range of work monetary policy to influence the overall financial and monetary variables, particularly on interest rates and the price of the local currency exchange rates of inflation, as it gives ample space to implement more efficient and effective monetary policy by the Central Bank of Iraq operations.
He noted that the government bond market while providing the opportunity for monetary authorities to achieve many of the relevant functions of the activities of these authorities , benefits, and most important of these benefits and advantages that the presence of the markets helps to shift towards the use of indirect instruments of monetary policy management and, in particular , open market operations .
it is noted that in Iraq there are no active and influential bond market economically, and this made economic voices resound to find a solid bond market in Iraq.
hutch says():provide liquidity
Ani between these markets exert an important role in providing liquidity of the money market (short - term instruments), which is of great importance in efficient implementation of monetary policy, especially in light of what is represented by trend yield on government bonds as a source of information about market expectations on interest rates and rates of future inflation.
He stressed that this will reflect positively on the financial structure of the system as it integrates the role of the banking sector and stock markets, pointing out that the Securities government, and in all its forms, represents an important means and Chairperson of the means of saving and transmission of savings in the economy, among the various sectors , both for the adoption of a safe way to invest , or as an indicator of help in the adoption of investment decisions intact.
He noted Ani that the development of government bonds the same markets as contained in the reforms legislative and institutional requirements and improve the infrastructure of the financial sector that serves all parties and dealers in the financial sector.
hutch says():comprehensive strategy and stressed the importance of addressing the financial and administrative corruption as a fundamental requirement in order to find the financial policy place in the application, and to tackle corruption must adopt a comprehensive strategy of economic, financial and administrative reform begin to desire the senior leadership of reform and pass institutional formation
and ends with the full powers of the anti - corruption body with attribution to activate the participation of civil society, the press and body control, accounting and eliminate organizations.
He concluded Ani to say that characterized the financial sector transparency and clarity, as is transparency in government financial activity is essential for the integrity of the financial position and credit her good judgment and administration of comprehensive financial and integrity,
as well as the fiscal transparency is a prerequisite for the safety of economic and fiscal policy, dissemination and document the general budget , which is displayed clearly in a timely manner makes it easier for investors and the public evaluation of government guidelines and therefore impose discipline hard to government operations.
hutch says():Adoption of international control standards preserves public and private money
22/10/2016 0:00 In the Arabian accountants forum in Baghdad
BAGHDAD / morning auditing and accounting are the basis for building efficient economy achieves targets development sustainable, where lies all forms of manipulation that might monitor the operations of the implementation of projects and disbursements in public institutions, where the Arab Forum accounting third focused in Baghdad on the need to develop expertise Arab in this sector and enable it to international standards governing the audit and accounting process.
hutch says():captain accountants and auditors Dr. Rafid pendulum said that the forum , which concluded its work yesterday dealt with the Iraq experience at this juncture it is important and ranges of application of international accounting standards, pointing to the need to pay an accountant and auditor in Iraq important that fit the size of the role it plays in the next economic management of the process, adding that there should be incentives lead to perform his work professionally maintains public and private money in both sectors.
participated in the forum that the two - day Arab delegations and local experts in accounting were exchanged experiences among the participants.
hutch says():guiding rules
pendulum said in an interview with «morning» that the Association of Accountants and auditors is waiting for legislation from the House of Representatives authorizing the application of international accounting in Iraq standards, pointing out that the union has trained over the years more than 1,000 member through training courses under the supervision of regional and local experts, pointing to the continuation of work on the dissemination of standards in curricula at universities , which includes specialized economic affairs colleges.
the international standards in accounting and auditing rules guiding consulted professionals to make professional practices (accounting and audit) at a high level for the purpose of reducing the degree of difference in the expression and practice, and the criteria adopted to assess the technical quality of work and determine the nature and depth of professional responsibility, including supporting the regulatory environment through its quest to raise the degree of disclosure and transparency in financial reporting.
hutch says():transmission of expertise
international expert Amin Saleh from Lebanon eating accounting standards and its impacts on financial reform , stressing the the importance of the exchange of international experiences in order to increase knowledge, noting that the exchange of expertise needs to be a transition period needed to create the human resources, noting that access to testing abbreviated transition period and earns participants new experiences of sources and be able to generate self - experience necessary.
standards and reform its part accept Dr. Khaled Mahayni former finance minister in the Syrian Republic adopted international accounting standards in the public and private sectors and their role in the economic reform process.
he said that the world has witnessed great development in all economic sectors Mausa investment here increased the need for the adoption of accounting standards and ensure that the financial statements of institutions according to standards international.
hutch says():And stood at the Australian experience , which is one of the best countries in the adoption of mathematical criteria, which has worked to reconcile with international standards and is characterized by national companies a high commitment to these standards that have contributed to the organization of courses of action in accordance with the specific plans down to the desired goal.
He said the application of standards leads to get on the economic operations of real numbers in all the institutions, thus ensuring the smooth flow of the direction of the budget allocations in the right direction and the safety of operations in spending.
Read More : http://www.dinarupdates.com/showthread.php?42772-Adoption-of-international-control-standards-preserves-public-and-private-money-10-22
hutch says():ARTICLE 5
hutch says():Rational: use mass banking system across your IBAN money transfer application
An economy Since 2016-10-20 10:12 a.m. (Baghdad time)
Baghdad scales news Good Bank announced Thursday, using the comprehensive banking system via IBAN system application for transfer of funds into and out of Iraq.
The Bank said in a statement received khodair Rashad/balance of news/copy, the Bank established a training course on using the program issuing the IBAN banking identity for customers of the Bank. "
Khudair, said that "the importance of the programme in the standardization of bank account numbers for all banks operating in Iraq in preparation for the use of the banking system and improving the level of financial and banking services.
hutch says():The Director of the Bank, that "a timetable for lecturing on branch managers and staff of the current account, savings, the importance of the international bank account number," pointing out that "this system approved Bank will transfer money into and out of Iraq for all bank customers through that account." over 29/34
Read More http://www.dinarupdates.com/showthread.php?42738-Rational-use-mass-banking-system-across-your-IBAN-money-transfer-application
hutch says():LAST ONE !
hutch says():Food security and the concept of economic sovereignty27
ShowLast update: Monday , October 24, 2016 - 9:39 Food security and the concept of economic sovereignty
hutch says():On according to economic changes taking place in our world, no longer bumpers borders of the nation-state as before, a barrier to commodity flows and the movement of labor and the movement of capital,
as the globalization institutions led by companies that rule the world has been able to change the concepts of nation state administration and make it governments that skidded off dealings with these institutions, pure views need more debt, aid and received accreditation as a subsidiary entities getting what you want these companies in the United Nations
and in international and regional forums leaves these satellite states remain captive for more presence for companies of globalization in their countries under the pretext of investment and development that rising rates for the benefit of foreign capital local
and his followers on the poorer classes that do not derive from the high growth rates, but more poverty, thanks to the new supporters of Adam Smith who claim to liberalize commodity and financial flows and the movement of labor under the slogan account «laissez-faire to let him pass».
hutch says():As debt constitutes the first form of economic containment Lhz countries in order to rob its imports, have impeded the concept of food security is the other form of the permanence of dependency.
In this context, be «food security relative» that can be achieved in the majority of developing countries elusive even devote case of absolute dependence on the triad of globalization, represented by the International Bank and Fund and the World Trade Organization and the companies behind it.
This is the foundations of him in our country since the situation advisers civil administrator Bremer - first and foremost Daniel Armestonz former director of Monsanto, which monopolize the seed market Aalemya- Law No. 81 on «Patents, Industrial Design, Undisclosed Information, Integrated Circuits, Plant Varieties»
and who did not amends and become a binding force as it prevents the re-use of seeds stored from new varieties referred to the law in a country known to farmers the use and save their stocks of conventional seed for nearly five thousand years,
only to find a seed market in Iraq is characterized Bgzarha productivity as seeds genetically modified controlled by foreign companies will pay these farmers to buy them and then repeat purchase annually until the demise of traditional seeds known to the Iraqi farms.
hutch says():According to this law, Bremer seeds permitted should have an innovative and distinct specifications and are compatible with UPOV standards an acronym renamed the International Union for the Protection of New Varieties of the plant, which makes seeds protected in this law exclusively on companies.
As it gives it the exclusive right to produce and re-production, sale, export and import and storage of protected varieties.
hutch says():And extends these rights to the harvested field products, which means all plants and their parts, which can be obtained from the use of these protected items in this law.
Bremer has issued a law that under the pretext of ensuring the supply of good quality in Iraq and to facilitate Iraq's accession to the WTO, the seeds, but the content of the law, which stands behind the companies that control the seed trade worldwide, particularly Monsanto,
is to facilitate the infiltration of the Iraqi Agricultural Market by these companies to dominate the agricultural future of this country and the dependence of food security in favor of globalization, companies, and promotes it is to eliminate competition clause by local farmers,
which kept her from the law, what legitimizes the marketing of genetically modified in Iraq and rejected the plants all over the world,
which will not be possible retrieval in the agro-ecological cycle or cleaning up the environment from pollution caused by genetic, as well as it does not reduce the use of pesticides, as these companies claim the testimony of many researchers.
hutch says():Here we have clarified that the law, which said Iraq for a series states governed by patents for seeds and protect the monopoly of multinational corporations rights laws at the local farmers' account,
develop and Iraq loss of sovereignty and under occupation in accordance with the United Nations resolutions, which gives the current government and the House of Representatives the right to cancel this law and the consequent obligations and agreements with the government
or the protection of the future of food security in the country's corporate entities, as a law losing legitimacy because of the lack of approval from the people's representatives.