Post From BondLadys Corner
Tlm724 & Shredd News & Comments 9-7-16
Tlm724: The dollar letter of credit
9/7/2016 0:00 Thamer Alheims there is no reasonable answer specific and justifiable to not to return for opening letters of credit for the purposes of import , this dollar bleeding of our credit must be curbed to stop losses at all levels.
Solution fugitive and its repercussions dollar problem on the Iraqi economy requires a return to work to open documentary credit, because of its role in supporting agricultural and industrial sectors , as he excludes practically at their sessions in internal for the time being.
the service sector Bmassarvh is still very limited in terms of its share in the national GDP which amounts to 5.1 percent , according to specialists. the private banking sector, despite the weakness of its role in the national product, but it features capabilities good in external financing banking service almost one figure to him.
although the sale of currency window achieved benefits for banks , but there are private banks went bankrupt and took her judiciary and that 's what does not make sense these banks , despite their contribution to exit 8590 percent of the dollar, the import of such goods amounts which are not identical to the import license quantity and quality.
With this flow and profit easy should be included in the economic session is what maximizes agricultural or industrial or resources of the country tourism. what enhances the environment incubator for external converter fake is the absence of capitalism Iraqi so at least to counter the bleeding, backed by parasites to be back for the opening credits to stop the loss is growing.
may stop the work of documentary credits some of the activities that may be involved in money laundering and to guarantee the safety of imported quantity and quality after opening credit must take measures such as the palm of recreational indiscriminate import which starts from goods competition for our production, through tightening of import license issued by the Ministry of Commerce with the coordination between the ministries of industry, agriculture electronically in order to prevent the role of passive bureaucracy in reducing bleeding dollar that action.
hold another important is to encourage banks to participate reconstruction production facilities stalled in the public and private sectors, as well as the immediate establishment of complexes and yards outside the cities to restore the quality check and confirm the quantity by certificates of origin and import license. activate quality control and loaded full responsibility for quality and compliance with the specification level of Iraqi. ensure the central bank for banks to reassure depositors with private banks to withdraw currency from the houses and ensure objectivity control (of the Bank of the banks).
Shredd: This is another good sign that compliance in cash transaction protection continues to be put in place.
With these letters of credit, the banks are standing behind and guaranteeing transactions which will in turn ensure they do their due diligence to protect themselves. This adds to confidence in dealing with all banks...even the private banks.
Tlm724: New investment roadmap through 2017
9/7/2016 0:00 BAGHDAD / Tariq al-Araji National Investment Commission unveiled a new map will be made public next year to implement several projects Baltnsag with all provinces except the province of Kurdistan.
This comes with the imminent delivery of a new meal of housing units for the complex Basmajh residential between registrars, at a time when confirmed the body that the compound is currently equipped with electricity around the clock after the opening of schools , health clinics and the completion of services to citizens living there to provide services.
Chairman of the National Investment Commission , Dr. Sami al - Araji said in an extensive statement »Sabah»: the «body and during the past period succeeded in distributing the first meal of the housing units 3200 travel first to the meal, with the construction of a clinic and provide all the services that dwell among which the complex is equipped with electricity around the clock , and the completion of the water and sanitation and the presence of projects modern market to shop ».
He said« there is coordination with the Ministry of transport to provide buses to transport the compound inhabitants back and forth to terrariums Allawi and the Renaissance at the current stage and will be distributed between the four regions and in the future , among other sites, noting that the Commission plan to establish a quick line connecting Basmajh in Baghdad and extending Railway.
He said he participated in a meeting recently took place in the form of advisers in the development of the reality of transport in the province of Baghdad, as it has been talking about the metro project and the train commentator alongside pan transportation problems in Baghdad to address, is due to the body cooperates with the railway department to activate the theme of the train into the city and with the the Ministry of Construction and Housing on the subject of the highway link between complex city center Basmajh been taking measures in this regard.
He said al - Araji , said the next few days will witness the distribution of the second meal among registered out of date, because their units had not done in the previous period because the area of 120 and 140 square meters and did enough explaining that the compound Basmajh designed on the basis that units of 100 square meters capacity by 60 percent and 120 square meters , 20 percent and 140 square meters to 20 percent
and most of the citizens is available to be distributed among registered, registered on large areas , although the survey said there is a desire registration on the 100 meters, and when he realized that citizens lack of financial big difference turned for registration on the 120 and 140 square meters, but he said he will be in the city and an abundance to cover actual emergency needs and the future , the near Snozaa of registrars who are currently enrolled.
Investment opportunity, head of the investment Authority said the issue the last to be Rasheed camp earlier project was announced as an investment opportunity and competed three companies, but the body stopped assignment because of the circumstances of the war on gangs «Daesh», after the Ministry of defense asked for the air base located there.
He added by saying: he «before the war on« Daesh »was scheduled to rational base moving to Essaouira base and deliver the site to the investor, but unfortunately , the war happened and al - Qaida has become an urgent need ..
and we are with the Ministry of Defence in this aspect then, but they have to move to Essaouira, especially after the recent victories, and if they insisted on staying Iraq would lose another space in Baghdad by 5000 acres for the establishment of a modern city containing residential, recreational, commercial, medical , and sports and 65,000 housing units complexes between vertical and horizontal, especially now that everything is done for the assignment, and we were on the door of an assignment without the war against gangs «Daesh».
He also said al - Araji that « the company executing complex committee Baghdad district of Kadhimiya rate of 20 000 housing units began to work on the ground , according to the scheme, as it will complete the first meal soon, especially as all implementation elements available, and there is no delay in this aspect », indicating that« the investor of the project Iraqis and the company Jordan - British ».
Future plans and the plans for next year, Araji said« body - bound two - lane, the first that topped the list for 2017 , which is an amendment to the body plan or its map for 2016, and the second body part of a committee with the Ministry of planning to prepare the next Five - year plan , which will be private with previous 2017-2020 ».
He also said that« the plan will be part of the investments of state revenue and another part to the introduction of foreign investment of the private sector in the implementation of projects », declaring« the presence of 12 all economically and Khaddmaa sector will include the head of the mission of the oil and gas industry, agriculture, transport, communications, health, education and housing projects , projects, and infrastructure belonging to these complexes, as well as electricity and tourism sector as well as various service sectors , commercial and entertainment such as services ».
And also it is working the body, according to al - Araji , the addition of Iraqi heritage sector Kaur and Laredo and the Warka, in addition to the marshes within the next year 's plan, as it will be given importance, as well as Babylon , the city that will see the construction of a real tourist complexes on a global level.
Also noted «coordinating body with all ministries and all provinces, with the exception of the Kurdistan region , which has a private Investment Authority », attributing the delay to work in some of the projects to« killer routine »which limited state action.
Shredd: Outstanding progress article. It's a long road to recovery but this roadmap is exciting to see! Steps forward......steps forward!
Tlm724: Dollar selling through government banks
9/7/2016 0:00 BAGHDAD / morning
CBI decided to bank processing Rafidain and Rasheed foreign currency (dollar), "for the purpose of expanding the cash sales of US $ outlets" for citizens across their branches scattered in Baghdad and the provinces ,
"according to the central statement yesterday , " Commenting on the statement , he said the competent affairs banking Ahmed expensive: that expand the sale of the dollar would outlets that reduces speculative price levels, pointing out that the move keeps the fixed currency prices.
He pointed out that this step needs to be flexible mechanisms away from the complexity and provides service to the citizen more easily. so stressed competent financial affairs Inas Zubaidi said the expansion of the dollar outlets in public banks reduces the monopoly was introduced in certain ports, and contributes greatly to the decline in demand for banking companies.
They pointed out that the move will achieve a balance in supply within the market, and creates competition among banking companies contribute greatly to the stability of prices at the borders of certain.
tlm724: Dollar selling through government banks
152 Show Last update: Wednesday, September 7, 2016 - 10:52
BAGHDAD / morning CBI decided to bank processing Rafidain and Rasheed foreign currency (dollar), "for the purpose of expanding the cash sales of US $ outlets" for citizens across their branches scattered in Baghdad and the provinces, "according to the central statement yesterday,"
Commenting on the statement, he said the competent affairs banking Ahmed expensive: that expansion of outlets selling the dollar would reduce the speculative price levels, pointing out that the move keeps the fixed rates for the currency.
He noted that this step needs to be flexible mechanisms away from the complexity and provides service to the citizen more easily. He confirmed to the competent financial affairs Inas al-Zubaidi that the expansion of outlets in the dollar reduces the monopoly of public banks was introduced in certain ports, and contributes greatly to the decline in demand for banking companies.
He pointed out that the move will achieve a balance in supply within the market, and creates competition among banking companies contribute greatly to the stability of prices when certain limits.
Shredd: Price stability is key for moving towards a future where the dinar reigns supreme in Iraq. They've got to have this locked down before moving forward.
Curbing corruption by having price controls in place will provide the safe atmosphere for future changes in rates and moving to a single currency regime.