Go to Comments
Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Wednesday PM Chat 6-1-16 Part 3 of 3
_firefly_ says():he looked forward to the announcement of the bank's first projects later this month.
_firefly_ says():he looked forward to the announcement of the bank's first projects later this month.
clay says to _firefly_():Did he mention Iraq lol
_firefly_ says to clay():I'm looking for a date which we won't get from Iraq lol
clay says to _firefly_():(y)
clay says to _firefly_():but they mentioned later this month
clay says to _firefly_():theres alot of projects in Iraq
clay says to _firefly_():but still lacking stability
_firefly_ says to clay():I've stopped studying Iraq almost a year ago unless the article has something to do with the CBI, IMF, WB or UN
clay says to _firefly_():got ya
_firefly_ says to clay():Give me facts, not propoganda :)
rcookie says():HERE IS A RECAP OF NEWS....
JABOURI EMPAHASIZES VINE (ANBAR) SUPPORT & NEED TO INTEGRATE POLITICAL & MILITARY EFFORTS TO END THE CRISIS...
MP FOR CITIZEN COALITION CHAWKI STATES HOR IS BASIS FOR IRAQS POLITICAL PROCESS AND CALLS ON ALL MP’S TO SUPPORT THE INSTITUTION...
PARL LEGAL COMMITTEE STATES RULES OF PROCEDURE ALLOW FOR 3 PRESIDENCIES TO CALL EMERGENCY SESSIONS DURING HOLIDAY...
KURD ALLIANCE STATES ABADI READY TO RECEIVE DELEGATIONS FROM PROVINCIAL GOV’T TO RESOLVE OUTSTANDING PROBLEMS...
PARL FINANCE STATES IMF LOANS WILL REVIVE THE IRAQI ECONOMY...
NATIONAL ALLIANCE MP FRANKENCENSE STATES 40 MPS OF REFORM BLOC MOVING TO JABOURIS SIDE STATING THEIR SIT IN GLORY DOES NOT CONSTITUTE A POSITIVE IMPACT AND IRAQ IS GOING THROUGH DANGEROUS PHASE OD ECONOMIC AND MILITARY CHALLENGES & EXPRESSED GREAT DESIRE TO RETURN TO NEXT PARL SESSION AND CONTINUE REFORM ACTIVITIES......
PENTAGON ANNOUNCES 2 US SOLDIERS WOUNDED IN ERBIL IRAQ & RAQQA SYRIA...MOD OBEIDI STATES EVIDENCE OF ISIS BEGAN FALL APART AND LOSE EVERYTHING...
ISF STATES QUICKER FALLUJAH OPERATIONS HINDERED BY PRESENCE OF CIVILIANS...
LIFT & BLOW LARGE NUMBERS IED’S THAT IMPEDE FALLUJAH OPERATIONS...HUGE ISIS TUNNEL NETWORK DISCOVERED IN FALLUJAH...
COL CHRISTOPHER GARVER APPOINTED SPOKESMAN FOR JOINT TASK FORCE REPLACING WARREN...50 ISIS ELEMENS KILLED IN ATTACK SOUTH OF MOSUL..
ANBAR SECURITY ISSUES STATEMENT THAT IRAQI NATIONAL FLAG WILL BE RAISED IN CENTER FALLUJAH WITH IN NEXT FEW DAYS...
VICE STATES THE US IMPOSED TOUGH CONDITIONS ON IRAQ IN MILITARY AGREEMENTS...
ISF AIR RAID CONFIRM KILLING OF SENIOR ISIS LEADERS INCLUDE WAR MINSTER AND $6 BILLION CASH HOLDINGS IN QAIM...
ISF ARMY AVIATION COMMANDER STATES ALL AXES TO FALLUJAH CORDONED OF AND CONDUCT 560 SORTIES...
JABOURI VISITS JOINT OPERATION COMMAND & FIELD COMMANDERS CENTER IN FALLUJAH...
PESHMERGA TROOPS CLEAR MORE THAN 40 SQ MILES OF TERRITORY OUTSIDE OF MOSUL...
ABADI CONFIRMS ELAYED OPERATIONS IN POST FALLUJAH LIBERATION...
BARZANI STATES KURDISTAN REGION “DESPERATELY” NEEDS TO IMPLEMENT COMPREHENSIVE REFORMS...
BASRA DISCUSSES ALLIANCE OF REGIONAL 5 YEAR DEVELOPMENT PLAN WITH UN ALONG WITH MAYSAN/DIWANIYA/MUTHANNA PROVINCES...
ARAB CONTRACTORS UNION & JORDAN MINISTRY OF PUBLIC WORKS ALONG WITH TAMIMI HOST ARAB FAIR FOR DEVLOPMENT OF INFRASTRUCTURE INVESTMENTAND INVESTMENT LAW AMENDMENT...
UN STATES CONCERN OF FOOD SUPPLY FOR CHILDREN IN FALLUJAH AND CALLS FOR GREATER MEASURES TO PROTECT CIVILIANS IN LIBERATION OPERATIONS...
UN CONFIRMS THE KILLING/WOUNDING 2326 IRAQIS IN MAY 2016...
ABADI GIVES RADIO ADDRESS TO FALLUJAH IN NUAIMIYA INSPECTION EXPRESSING DEFINITIVE LIBERATION...
IRAQ CENTRAL BUREAU RECEIVES INTERNATIONAL ACCREDITATION CERTIFICATE FOR QUALITY CONTROL INSPECTION...
SALAHUDDIN DEPUTY CONFIRMS RETURN OF 80% OF DISPLACED AND DEMANDING FURTHER RECONSTRUCTION SUPPORT...
GOV’T ANNOUNCES PURSUIT TO PROVIDE 250,000 JOBS FROM PRIVATE SECTOR ALONG WITH OTHER OBJECTIVES TO MOVE TO MARKET ECONOMY INCLUDING: ADDRESSING HOUSING CRISIS BY CREATE OR BUY 36,000 NEW UNITS...
PRIVATE SECTOR REHAB AND INTRO NEW TECHNOLOGY TO 330 PLANTS & FACTORIES...MANUFACTURE RAW MATERIALS FOR INDUSTRY & AGRICULTURE INDUSTRIES...
PROMOTE PROJECTS IN INDUSTRIAL CITIES...REDUCE IMPORTS THROUGH NATIONAL PRODUCT SUBSTITUTION OF AT LEAST 50 PRODUCTS...
NATIONAL EXPORT PROMOTION COMPETITION OF AT LEAST 10 PRODUCTS...LEGALIZING FOREIGN CURRENCY DISPLAY AND REDUCE BY 10%...
AND LOAN MECHANISMS & AMOUNTS BY SECTOR WITH TERMS...
JABOURI STATES IRAQ IS A POOR COUNTRY BECAUSE OF CORRUPTION...
KURDS ANNOUNCE DIRECT DISTRIBUTION OF EMPLOYEES SALARIES FOR MONTH OF APRIL...
ALLAWI WARNS OF IRANIAN INFLUENCE IN FALLUJAH...
SADR & LIBERAL BLOC WARN OF ARREST WARRANTS ISSUED PROTESTORS IN SADR CITY...
FRANCE PLANNING TO OPEN CONSULATE IN NAJAF...
_firefly_ says():Iraqi private banks association was discussing with representatives of the US Treasury Department Akharalmostagdat in Iraq's banking sector
2016/06/01 | 11:50 (Encyclopedia of the Day News | Iraq News ) - Economy News special examined the Iraqi private banks association with a team of US Treasury Akharalmostagdat pertaining to the banking sector in Iraq, and representatives of the Iraqi private banks association comprehensive report on the constraints and limitations faced by private banks , the banking sector put an offer ,
also touched on the efforts of the Association to develop the efficiency of the banking sector in particular in the field of combating money laundering and terrorism financing, through the training of workers in this sector in cooperation with the ACAMS International Foundation.
representatives of the US Treasury and pointed to the Iraqi Central Bank 's decision on stopping 300 banking firm for the purpose of be subject to scrutiny by the standards followed by the central bank, said representatives of the US Treasury support for the plans of the Central Bank of Iraq to Ttoiralqtaa banking and subjected to Maiaratah in the fight against money laundering and financing of terrorism. They also discussed the need for the banking Ttoiralqtaa and overcome obstacles in order to take a real role. ended
_firefly_ says():The UST huh !!!!!!
clay says to _firefly_():cookie news sounds great ty both :)
_firefly_ says to clay():Well we all know the UST doesn't go anywhere unless money is involed IMO
clay says to _firefly_():yep
Josie says():Sorry if I have missed this, but has there been a date established as to when Iraq's new credit rating may be announced ?
subgirl says to Josie():I am not sure?
Josie says to subgirl():ok thanks. I know there has been a lot of talk about a new pending credit rating for Iraq so I assume it will be set (announced) in the near term,. just curious when
rcookie says():Identification of the Iraqi economy Options
6/1/2016 0:00 Faris Al Salman al - Rubaie missed Iraq since 2003 through the economic recovery did not invest the proceeds of the massive rise in oil prices , which could have been invested to achieve the developmental economic boom.
The confusion that currently experienced by the Iraqi economy, caused by a lack of identification of the Iraqi economy, not to mention the weakness and lack of strategic economic planning as well as shortcomings in the management of resources and the reluctance to enforce the law and the weakness of regulatory and legislative institutions as well as the impact of the administrative and financial corruption in most of the joints.
At the time everyone was waiting for a big economic successes of successive governments and the parliament , and regulators, and limiting the performance of government on the reaction , no more politics.
We will try in Mbgesna this that are feeling the optimal economic way for the advancement of economic reality through a review of the main methods and economic theories followed by the countries of the world and the extent of compatibility with the Iraqi reality.
between the free - market economy and socialism produced the capitalist system , the theory of globalization and free market economy, a comprehensive liberalization of the market and trade liberalization of capital movements as well as the frantic quest for profit through fierce competition and monopoly Wild.
this in turn create social problems for labor rights account and the stability of wages and the weakening of social security, which inevitably leads to the killing of social development, and I mean in other words , the control of the private sector on the economic file and fully determine the contribution of the government in the economic process, and on the contrary, we find in the socialist system , the dominance of the state 's authority over all economy facilities.
We have the need arose to the theory of trying to combine the laws of free market economy and the social principles of the socialist system, and Anni so socialist democracy, but we are talking about the theory aims to attend the government in the maintenance and control of the relationship between market competition and social justice.
the varied experiences in this field, for example , we find Sweden has adopted a successful model of socialist democracy, a model close to the social market economy in terms of securing social and health service benefits, and even exceeded the socialist countries in it, while the German social market theory focused on employers and trade agreement to report wages and providing funds for the training and development of professional competencies .
Read More http://www.dinarupdates.com/showthread.php?35312-Identification-of-the-Iraqi-economy-Options-6-1
rcookie says():there are those who mistakenly believed that the social market economy belongs to the socialist theory, and in fact is the model proposed by the two Germans (Alfred Ormick and Udwing Earhart) combines the advantages of a free market economy in terms of economic power efficient
and the abundance of product and between socialist theory to avoid fierce competition, monopoly and prevent the exploitation of workers and allow the creation of unions and their participation in decision - making accompanied by strict control of the government and not to allow commercial operations abusing the social system.
in a free market economy is the role of the state negatively in terms of protecting the community socially, while in the social market economy is the role of government oversight and keeps the economy the focus of such economic stimulus legislation and fair competition laws and approval of social security policies.
the theory (Earhart) is to try to combine the freedom of trade , social justice and economic growth within the framework of an economic and social system balanced.
Take , for example , applied: the Germany emerged from World War II totally destroyed and adopted a social market economy through the following steps:
1 - Support for civil society.
2 - the foundations of civil society - stock companies for the production and rebuilding backed banks such as Mercedes and Voleksoagn and Bayer Pharmaceuticals and ThyssenKrupp Steel Industries, and in electricity was set up contributing companies civil possessed nineteen nuclear reactor to produce electricity.
3 - has been supporting small and medium - sized companies to create development thus achieved these companies jobs and wide as well as social security for labor.
4 - encourage the government to small businesses and medium by way of loans to encourage competition in order to encourage people to work and support their families and employment.
5 - the German government has encouraged the establishment of courses and seminars to educate the public in ways that set up business ventures and economic and terms of support and tax transactions , and others.
As a result of the success of the German experience and the collapse of the Soviet Union in 1991 brought back a lot of parties European communist consider their economic programs, the Italian Communist party amended his theory of Marxism - Leninism to socialist democracy theory which is different from the social market economy theory, but close is somewhat of them.
these differ theory liberal theory of social and liberal socialism, as the last two Traian that it is the duty of the state job creation, health care, education and civil rights, which calls for respect for individual freedom and tolerance , and is that the right to work and the right to payment of adequate remuneration to work no less important than the right to own property.
which they are here agree with the social market economy that excel them a theory because they believe in ownership individual means of production with state regulation of the market in order to achieve fair competition and achieves the same time social justice and social services such as education , health and security, human rights ,
in other words , it achieves a balance between capitalism and socialism any achieved a balance between economic freedom and justice in order to serve the community any way that serves the public good.
rcookie says to _firefly_():NOW IF YOU HAD THE CHOICE TO START FROM SCRATCH KNOWING WAHT YOU KNOW FROM HISTORY...WHICH ECONOMIC & SOCIAL OPTION ARE YOU GOING TO ACTIVATE THE NEW IRAQ WITH........
Scotzgirl says():Am I close... Kuwait reinstated the pre-war value of their currency, then market drove it higher, then eventually settled in range it is today?
_firefly_ says to Scotzgirl():AFTER THE WAR
AFTER THE WAR; No Electricity but Kuwait Reopens Its Banks
By DONATELLA LORCH, Special to The New York Times
Published: March 25, 1991
_firefly_ says to Scotzgirl():KUWAIT CITY, March 24— It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.
Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money.
Without electricity, the banks services were slow, limited to money exchange and withdrawal. There was no telex, no electronic money transfer and no telephones. The computers were unusable, so all transactions had to be entered by hand.
"It's like going back 20 years," said Mohammed al-Yahya, the manager of the Commercial Bank of Kuwait, the nation's second-largest bank. Seized Dinars Canceled
The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.
All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.
Although it is severly handicapped without electricity, the Commercial Bank, like many other major banks, was able to open for business because its records had been saved from the Iraqis. Mr. Yahya hid the bank's balance sheets in his home and sent its computer records to London via Syria with an Indian employee, who packed the tapes into the back of a trailer.
The banks also face serious personnel shortages. Only 11 of the Commercial Bank's 35 branches opened today, with 137 out of 1,300 workers.
Before the Iraqi invasion, only 17 percent of the bank's staff was Kuwaiti. Many of the foreign workers -- Jordanians, Palestinians and Indians -- fled and now cannot re-enter the country.
For those exchanging money today, there was little they could buy in Kuwait. Many of those in line said they planned to use their money for vacations or for shopping trips to Saudi Arabia to buy generators and food.
"I need to get away from this pressure," said Abdul Mohammed Hussein, a computer engineer in his early 40's who said he was withdrawing 1,500 new dinars to take a vacation in the United Arab Emirates. "Everywhere you go you find lines. At the supermarket, you find lines. To get petrol for the car, you find lines."
Abdul Hamed al-Atar, a 50-year-old retired Interior Ministry official, said this was the first time he had set foot in a bank since September, and he seemed relieved. "Kuwaits always keep a lot of cash with them," he said as he was handed crisp new piles of money that he stuffed into a small bag. "It's a comfort to have money in my hands."
Photo: As Kuwaiti banks opened for the first time in months, a group waited in line to change old banknotes for new. New currency was printed to replace stocks of previous notes looted during the Iraqi occupation. (Agence France-Presse)
_firefly_ says to Scotzgirl():Hope that helps :)
Scotzgirl says to _firefly_():yep! tyvm!
Dinarian1 says to _firefly_():Thanks for that trip down memory lane!
pizzaman says to rcookie():Thanks again for the recap...short and to our the point...love those! Was curious about what this phrase meant if you could opine further upon it...appreciated; LEGALIZING FOREIGN CURRENCY DISPLAY AND REDUCE BY 10%
Read More :http://www.dinarupdates.com/showthread.php?35268-Wednesday-June-1-2016/page2
For comment section, please scroll down. Thank you.
This website uses marketing and tracking technologies. Opting out of this will opt you out of all cookies, except for those needed to run the website. Note that some products may not work as well without tracking cookies.Opt Out of Cookies