Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Friday Late AM Chat 11-25-16 Part 1 of 2
rcookie says():"THIS LEGISLATION AIMES TO REGULATE THE WORK OF COMMERCIAL AGENCY EXERCISED IN IRAQ BY AN AGENT FOR THE BENEFIT OF A NATURAL OR LEGAL PERSON FROM ABROAD;
AND REGULATE THE TRANSACTIONS OF THE DEPARTMENTS OF THE STATE, THE SOCIAL, MIXED AND PRIVATE SECTORS AND THE UNIONS WITH NATURAL AND LEGAL, ARAB AND FOREIGN PERSONS IN SUCH A WAY AS TO ACHIEVE DEVELOPMENT TARGETS, PREVENT EXPOITATION, AND SECURE THE INTEREST OF THE NATIONAL ECONOMY.....
rcookie says():THINK THIS MIGHT BE A TAD BIT IMPORTANT TOWARD DFI AND ACQUISITION OF DFI AND...ALONG WITH TH OTHER LAWS REVEALED YESTERDAY AS THE KEYS TO DELIVERING WHAT WE ARE ALL LOOKING FOR.....
rcookie says():YOU HAVE THE LIST....
sagecanyon says():News is so good...Thank You Rcookie and Loop...!
rcookie says():DONT HAVE TO LISTEN TO CLUELESS GURUS FUMBLE AROUND WITH IGNORANT SPECULATION & INUENDO...THEY TOLD US.....
loop says to sagecanyon():(y)
loop says to rcookie():But Frank said........
rcookie says():PLEASE CLICK INTO THAT LINK AND READ AND EXPLAIN TO ME HOW THE REQUISITE FOREIGN INVESTMENT NECESSARY TO SUPPORT AND DRIVE THE CURRENCY REFORM WE ARE WAITING FOR COULD REMOTELY HAVE BEEN POSSIBLE WITHOUT ADDRESSMENT ALONG WITH THE OTHER CRITICAL BANKING...ECONOMIC & FINANCIAL LAWS THAT HAVE BEEN ADDRESSED IN LAST YEAR.......
SIMPLE ANSWER...THEY COULD NOT....EVER...EVER...NEVER...
rcookie says to loop()::D
loop says():Federal police announced the killing of 50 of the "Daesh" and the arrest of 32 others south of Mosul
Friday November 25 2016 14:35
Alsumaria News / Baghdad announced that federal police, on Friday, killing 50 component of the organization "Daesh" and arrested 32 others during separate military operation within the southern hub of operations Mosul.
Police said in a statement received Alsumaria News, a copy of "sporadic military operations within the southern axis of the process of restoring the connector from the grip Daesh, killing 50 elements of the organization, as well as the arrest of 32 others."
She added, " The operation also resulted in the destruction of four barracks snipers terrorists , " indicating that "forces continues to work Aelloukry cleared of all the cities that have liberalized over the past few days."
The joint security forces and continue the support of the army aviation and the international coalition in restoring Mosul from the grip of "Daesh" process, after the announcement of the Commander in Chief of the Armed Forces Prime Minister Haider al - Abadi on the October 201 617 morning, "zero hour" for the Liberation of Nineveh.
rcookie says to loop():
1. CENTRAL BANK LAW NO. 56 (2004)
2. FEDERAL BANKING LAW NO. 94 (2004)
3. COMPANIES LAW NO. 21 (1997)
4. IRAQI STOCK EXCHANGE LAW NO. 74 (2004)
5. FINANCIAL ADMINISTRATION ACT
6. INTEGRITY COMMISSION ACT
7. PFM LAW AMENDMENT & INCORPORATION TO 2017 BUDGET LAW
THESE IN ADDITION TON INTEGRATING ANTI CORRUPTION AML.CFT LAWS AND SYSTEMS INTO INVESTMENT LAW INTO THE INTERPLAY OF IRAQI STATE & PRIVATE BANKS WITH THE INTERNATIONAL BANKS THROUGHOUT THE WORLD..
.IN ORDER TO DEVELOP A SYSTEM OF PAYMENTS & BANKING MODERNIZATION & REGULATION OF THE ELECTRONIC MONETARY TRADING SYSTEMS & TECHNOLOGIES...AND APPLICATION OF 3RD PARTY INT'L AUDITING AGENCY TO OVERSEE CBI REGULATORY SYSTEMS & ACTIONS...
rcookie says to loop():AND THE REASON...OTHER THAN THE OBVIOUS... AS TO IMPORTANCE OF PRIVATE BANKS COMPLIANCE & ADHERENCE TO THE SAME STANDARDS BECAME EVEN MORE APPARENT...
rcookie says():PRIVATE BANKS WILL NOW BE PARTICPATIVE IN DISTRIBUTING SALARIES OF STATE EMPLOYEES...PREVIOUSLY HANDLED ONLY BY SOB'S...
rcookie says():AND YESTERDAY BROUGHT IN THIS REPORT FROM THE EUPHRATES DEVELOPMENT & STRATEGIC STUDIES CENTER...IN A REPORT ABOUT "THE IRAQI ECONOMY PROSPECTS THROUGH THE EYES OF THE IMF....
CONTAINING IRAQI ECONOMY OVERVIEW AND OUTLINE OF RECOMMENDATIONS AND REFORM PROGRAMS TO RESOLVE THE ECONOMIC CRISIS...AND IDENTIFY THE 4 PILLARS OF THIS PROGRAM.....
rcookie says(8):The first pillar // external pressure management
And include the main measures in the context of the maintenance of the linked exchange rate as the nominal head of the foundation for stability in price levels. In addition to removing the remaining exchange restrictions and gradually strengthen anti-money laundering and combating the financing of terrorism, to stop the illegal demand and speculation on the foreign currency.
rcookie says():The second pillar // correct financial path while protecting the poor
The Iraqi government continues to implement fiscal consolidation policies, mainly through the reduction of capital expenditure is efficient, while protecting social spending. This helps to pay for public spending to a sustainable level in line with the oil revenues.
It should therefore on the government design and implement new policies for income and expenditures able to achieve a balance of non-oil and achieve debt sustainability.
rcookie says():The third pillar // strengthen public financial management and reduce corruption
To improve fiscal discipline and raise the quality of spending and the Finance Ministry is seeking to issue new legislation, public financial management and the issuance of reports of financial tables and in accordance with international standards and strengthen the commitment and cash management and conduct regular surveys to scrutiny and surveillance to reduce arrears and improve debt management with the help of international bodies controls.
rcookie says():// The fourth pillar of the financial risk control to maintain the stability of the financial sector
It is taken important steps to strengthen the legal framework of the Central Bank of Iraq, as well as the restructuring of state-owned and strengthen prudential standards and banking supervision with the support of international advisers banks.
In addition, the Central Bank of Iraq need new policies to curb money laundering and tighten control on foreign currency auction and combating the financing of terrorism and to strengthen anti-corruption legislation to help improve the financial system, the integration of operations in Iraq.
rcookie says():THAT FOLKS....IS WHAT THE IMF HAS LAID OUT TO BE THE UNDERPINNINGS OF RESOLVING IRAQS ECONOMIC & FINANCIAL CRISIS......
futuremoney says(8):the advances Iraq has made over the last six months is staggering...
loop says to rcookie():As always thanks for the great information....
woodywoodpecker says():yes, thanks rcookie
rcookie says to loop():HERE IS THE REST OF THAT ARTICLE...
rcookie says to loop():The prospects for the Iraqi economy lensed IMF
24/11/2016 Dr.. Haider Hussain Al Tohme Researcher at the center of the Euphrates Development and Strategic Studies
Still deteriorating oil prices pose a threat to Iraq's future is no less dangerous for the security and political challenges exacerbated years ago.
Government's failure to harness additional resources to finance the budget and the widening circle of financial and administrative corruption and weak oversight and law increased the plight of the government in the financing of humanitarian and military needs of the country's liberation from occupation Aldaasha operations.
In the context of that it held a series of technical meetings and consultations between the economic decision-makers (Ministry of Finance and Ministry of Planning and Central Bank) with the international economic institutions desire for urgent financial aid and correct the path of economic reform and financial and monetary system in the country.
On the recently released report of the International Monetary Fund, the reality is made and the prospects for the Iraqi economy and highlighted the necessary recommendations to overcome the economic and financial crisis in the country. The report refers to damage to the Iraqi economy hard hit by the double shock caused by the sharp drop Daesh attacks in world oil prices.
Which resulted in the continuation of the armed conflict with the guerrilla Daesh for new waves of internally displaced people, it has arrived so far to more than four million displaced, in addition to the nearly 10 million people (27% of the size of the population) in urgent need of humanitarian assistance.
On the other hand caused a sharp drop in oil prices to make a large external shock to the balance of payments and budget revenues, which depend mostly on oil export revenues.
Real GDP also shrank by 2.4 percent in 2015 despite an increase in oil production by 13% during the same year. The non-oil economy also witnessed a contraction in its economy on a large scale to decline by 19% due to continued military operations and fiscal austerity government.
For that, the International Monetary Fund draw economic reform program in Iraq in order to achieve rapid balance of payments and government spending made in line with the fall in world oil prices and ensuring debt sustainability. The new program includes new measures to protect the poor and improve financial management and enhance the stability of the financial sector and reduce corruption.
The Executive Board of the International Monetary Fund also agreed recently to give Iraq the amount of 5.34 billion dollars of special drawing rights for three years to support the economic reform program of the govern International ment.
And it refers to the International Monetary Fund and the policies established by the Iraqi government to deal with the oil price shock partly occasion. In the financial sphere, the Iraqi government implement fiscal adjustment is not too bad by cutting capital expenditure low efficiency while protecting social spending and the financing of small and medium enterprises.
As well as to maintain the link local currency to US dollars to provide the foundation for the stability of price levels.