Post From Dinar Updates
Chat Room Excerpts & Highlights
RCookie News Time 6-20-16 Part 2 of 3
Newstime with Rcookie/Mr. White/and special guest Loop 6/20/2016
Hutch says():WHATS NEXT FOR US RCOOKIE?
rcookie says to loop():LOOPSTER......WHAT DO YOU HAVE ON THE INCREDIBLE NEWS FROM TODAY....
loop says():I thought this article is yet another example of just how seriously they are working on their economic reforms and monitoring programs.
loop says():Securities trading 11 joint-stock company for "lack of commitment to change its" stop
Author: AR, HH Editor: AR, HH 06.20.2016 13:20 Long-Presse / Baghdad
Securities Commission decided on Monday to suspend the contribution of seven companies from trading for "failing to comply with the instructions of financial disclosure," while stopped four companies for "changing the activity of the fiscal conversion into an Islamic bank."
The Securities Commission said in a statement received (range Press) copy of it, "the Commission decided to suspend trading in shares of companies (Iraqi Date Processing and Marketing, transport petroleum products, Bank of the economy, the electronic industries, the Iraqi seed production, modern paint industries, Almahj financial convertible ) for failing to comply with instructions and corporate financial disclosure. "
And it called on the Commission, companies in hot areas to "provide disclosure by the Chairman of the Board of Directors for the overall situation for the company to be returned to circulation of a (modern construction materials, household furniture industry, construction materials Fallujah, Mosul, to the cities of games)."
The agency said it "decided to suspend trading in shares of companies (Iraqi financial transfer, the trustee of the financial transfer, United Arab financial convertible, Sama Baghdad fiscal transfer) after the registrar of companies endorsement of the decision of the General Authority for companies to change the activity of the company from Mali convert into an Islamic bank after the issuance of capital increase. "
loop says():the Commission decided to suspend trading in shares of companies (Iraqi Date Processing and Marketing, transport petroleum products, Bank of the economy, the electronic industries, the Iraqi seed production, modern paint industries, Almahj financial convertible ) for failing to comply with instructions and corporate financial disclosure. "
loop says():This level of oversight is great to see.
rcookie says to loop():THIS WAS A GREAT REPORT LOOP...
Hutch says():WOW LOOP YES IT IS
loop says():And this is one of many that are happening almost every day now.
rcookie says to loop():IT COINCIDES WITH THE OTHER REGULATION AND OVERSIGHT...
loop says to rcookie():Exactly
loop says to rcookie():It shows just how seriously they are working on cleaning house.
rcookie says to loop):THE SECURITIES COMMISSION HALTING TRADING ON COMPANIES DUE TO FINANCIAL DISCLOSURE REPORTING VIOLATIONS.....
THIS ALONG WITH ANOTHER BANK AFTER TRUSTEE FINANCIAL TRANSFER AND INCREASING ITS CAPITALIZATION TO CONVERT REGISTRY TO ISLAMIC BANK...
loop says to david334():yes
david334 says to loop():Has the SEC always regulatory control ir recent dev
loop says to david334():I cannot speak to that. I know that this is the first time that I've seen an artcle about them doing it.
rcookie says to loop():THIS IS A TEXTBOOK EXAMPLE OF STARTING TO APPLY IAS INERNATIONAL ACCOUNTING STANDARDS...
AND IFRS INTERNATIONAL FINANCIAL REPRTING STANDARDS WHICH DEAL WITH THE TIMELY TRANSPARENT REPORTING OF FINANCIAL DATA REPORTING FOR PUBLICLY TRADED COMPANIES........
rcookie says to loop():AND REMEMBER BEEN APPLICABLE SINCE JANUARY 7TH....
wmawhite says to rcookie():excellent point
loop says to rcookie():Everything transparent and above board. Nothing to hide. Major improvement.
jimplants says():massive statements and action saying here we come
rcookie says to loop():YES....AND RUNNING PARALLEL WITH THE EXPECTATIONS OF TIMELY..ACURATE TARNSPARENT FINANCIAL & ECONOMIC DATE THE INT'L AGENCIES ARE EXPECTING FOM IRAQ....WB...IMF...WTO...
loop says to jimplants():THat's my take as well Jim.
rcookie says to jimplants():GREAT POINT JIM...AGREED..
jimplants says():not just statements but ACTION
loop says():I have one more article to bring if it is alright?
rcookie says to jimplants():ABSOLUTELY LOOPSTER!!
loop says):Saleh: The government plans to take measures to ensure activation of the overall development
Last update: Monday , June 20, 2016 - 10:29
Baghdad, Alaa al-Tai stressed economic adviser to the prime minister the government's intention to hold an administrative changes commensurate with its reformist and take a series of measures designed to give effect to the overall development process and economic reform and to improve banking supervision level to fight corruption and money laundering in addition to the activation of tax policy and collection of fees and work in state-owned companies adjust .
He D.mzar Mohammed Saleh in an interview with «morning»: The government is seeking to conduct a comprehensive management changes according to its reformist and the requirements phase includes adjusting work in government institutions and conduct an audit of government officials bloated to eliminate the phenomenon of granting the salaries of employees do not perform any work or paid the salaries of more than a governmental entity.
Saleh added: It will be activated decisions and laws that serve the process of economic reform and development, which contribute to the improvement of banking supervision level to fight corruption and money laundering phenomenon and to work towards building a sober and healthy banking sector.
He also explained that the procedures will include the activation of an appropriate tax policy and the adoption of the necessary measures to obtain the fees for various services provided by the government and the tax would be settling accounts including senior officials, and includes provisions nominal salary and by deducting up to 7-15 percent by allowances they receive.
He continued: There is a general trend by the executive aims to revitalize economic sectors and development in order to get rid of the single funding and diversify non-oil imports and get the economy moving and to involve the private sector in construction and reconstruction process, stressing the country's need to generate administrative power commensurate with the size of the requirements phase to maximize funding and stimulate the market to cross the critical economic situation the country is going through due to various challenges, most notably the drop in global oil prices.
And on the granting of loans to citizens mechanisms Saleh called on banks departments all the way to comply with the instructions issued by the Central Bank on granting citizens loans and show flexibility in instruction application and reduce the bureaucratic way that a win-win for both sides, stressing that there are two types of loans, the first small and medium loans and grants to individuals, graduates and employers small and the second major loan projects, a service and industrial and housing projects.
It is worth noting that the government requested support for its budget from the international community after the collapse of the oil market over the past two years has caused a lack of revenue, and coincided with the exposure Iraq to attack fierce terrorism and what was caused by a large ruined infrastructure and the size of the human exodus from the hot spots, it all led to inflation expenses and rising budget deficit the size of what led to the activation of the decisions that contribute to reducing spending and taking austerity measures and seek to reduce reliance on oil imports and stimulate industrial and agricultural sectors and to involve the private sector.
rcookie says():WOW LOOP!!...
loop says():Saleh added: It will be activated decisions and laws that serve the process of economic reform and development, which contribute to the improvement of banking supervision level to fight corruption and money laundering phenomenon and to work towards building a sober and healthy banking sector.
Hutch says():I LIKE IT WHEN SALEH TALKS
loop says():More oversight and compliance.
rcookie says():WITHOUT HESITATION OR RESERVATION!!!.....
rcookie says():AND ACTIVATION OF THE ECONOMIC REFORM LEGISLATION.....
loop says():Making it easier for the citizens to get loans.
loop says():which increases liquidity.
rcookie says():REMEMBER...WE ARE LOOKING FOR PUBLIC FINANCIAL MGMT LAW....BANKING LAW AMENDMENTS...CBI LAW AMENDMENTS...
loop says():which is the lube for the economic engine.
rcookie says):GREAT POINT LOOP PRIVATE SECTOR LUBE!!
wmawhite says):Question for the room.
Hutch says to wmawhite():GO AHEAD MR WHITE
wmawhite says():Who does Dr. Saleh speak for?
rcookie says():THE 3 AMIGOS.....
wmawhite says():When we see Dr. Saleh speak......who is he really speaking for?
loop says():Manny, Moe and Jack
rcookie says():COME ON DU....
wmawhite says():as well as another person from a few years ago.......
mainegirl says():Dr Shabs!
wmawhite says():Folks,............if you only knew................
rcookie says():WOOO HOOO!!..
wmawhite says):this is on a road that was drawn years ago.
wmawhite says():I am finished
Hutch says to wmawhite():THANK YOU AND A PERFECT TIE IN
oldmechanic says():the 3 presidents, pm, speaker, and president?
david334 says to rcookie():Thank you Mr White