Millionday Roundtable 11/24/14 PART 1
Welcome to dinarupdates.com for Roundtable with Millionday!
Millionday: I JUST WANT TO SAY SOMETHING BEFORE WE START
Millionday: OK FIRST LET ME LET YOU KNOW THAT EVERYONE IS HEARING ALL OF THE CHATTER ABOUT WHEN AND THE BANKS AND THE "INTEL"
Millionday: THE THING IS THAT -- NO ONE KNOWS WHEN BUT IRAQ
Millionday: AND THAT IS PROBABLY ADDED WITH A FEW OTHERS THAT HAVE TO BE IN THE KNOW BUT THE GUESSING GAME IS NOT A FUN ONE
Millionday: SO LETS NOT DO THAT --- TRUST ME WHEN I SAY -- THE REASON WE KEEP IT THAT WAY IS SO YOU HAVE YOUR HEAD ON STRAIGHT WHEN YOU NEED IT THE MOST
Millionday: SO WE WILL LOOK AT THE INK AND OH HONEY THAT IS GOOD ENOUGH AS YOU WILL SEE
Millionday: OK SO LETS LOOK AT THE NEWS AND HOLD ON TO YOUR HATS
Millionday: I KNOW I HAVE SAID HOLD ON TO YOUR HATS A LOT BUT LET ME SAY REALLY THIS MIGHT BRING TEARS TO YOUR EYES SO LET ME GET THROUGH IT BEFORE YOU START CHATTING
Millionday: Iraqi government economists called for "restructuring of banks in proportion to the global development of the global banks and keep up with economic openness with the countries of the world,
and expressed their satisfaction over the decision of World Bank contribution to the restructuring of state-owned banks to raise the rate of the Iraqi development.
Millionday: NOTE -- THEY ARE CALLING FOR THE MARKET ECONOMY AND THE OPENING TO THE GLOBE WITH THE DINAR SET FOR TRADE
Millionday: She said an economic expert Ikram Abdul Aziz in an interview for the "long", "The restructuring of the Rafidain and Rasheed is a holistic concept to secure the good performance of the financial, technical and administrative aspects so as to ensure a productive management of costs and this is done by the development and activation of the relevant job banks aspects.
Millionday: NOTE -- THEY OF COURSE PLAN TO USE THEIR BANKS IN THE DEVELOPMENT AND HAVE ALSO DEVELOPED THEIR STATE BANKS WITH THE HELP OF THE WORLD BANK -- SMILE
Millionday: "The World Bank allocated ten million dollars to re-structuring bank Rafidain and Rasheed in the coming years and to develop the electronic aspects and raise the level of financial transactions."
Abdul Aziz explained that "to go to the restructuring linked to resolving the bad debt problems for years as well as providing real opportunities for the development of banking staff skills to ensure the upgrading work of the two banks.
Millionday: NOTE -- THESE BANKS HAVE BEEN STALLED SO DEVELOPMENT WILL BE ONGOING AS THE BANKING INDUSTRY ADVANCES OF COURSE ---
THE MONEY IS NOT A SHOCK AS IT IS COMMON TO GET OFF THE GROUND FOR COUNTRIES THAT NEED THE HELP -- THEY ARE THE WORLD BANK
Millionday: NOTE -- TALKING ABOUT THE RAFIDAIN AND RASHEED BANKS
Millionday: She pointed out that "there are external debts with great benefits pose burdens and obligations of the largest private capital Balmusrven addition to assets is a money orders issued to the Treasury finances the deficit in the public budget of the country."
She stressed that "the delay in the development of technological systems in which they can connect bank branches centralized information network management, due to lack of funding faced by the government banks."
Millionday: NOTE -- THEY HAVE BEEN HELD UP DUE TO DEBTS AND THE MAJOR EXPENSE OF WHAT HAD TO BE DONE TO DEVELOP FROM SO MANY YEARS AGO
Millionday: It pointed out that "the government and private banks Rafidain and Rasheed possess a great history and a leading role in the field of development and development,
covering important aspects of the financial needs of the country for the construction and establishment of major projects have contributed to the development of the country for the better."
Millionday: NOTE -- THEY ARE LOCATED THROUGHOUT THE COUNTRY AND ARE A VERY WELL KNOWN BANK IN IRAQ
Millionday: Parliamentary Finance Committee and revealed its intention to restructure the legislation law Rafidain and Rasheed to free them from the domination of the Ministry of Finance, as pointed out that it continues to work on the development of the banking system in Iraq.
Millionday: NOTE -- THIS IS ABOUT THE LEGISLATION LAWS AND THEIR ACTIVATION -- SO EXCITING TO SEE AFTER ALL THESE YEARS
Millionday: NOTE -- HERE IS THE PRESS STATEMENT THAT WAS RELEASED ABOUT THIS
Millionday: A member of the committee MP Faleh Djiashi in a press statement, "The committee is working on legislation to restructure the banks and government Rafidain and Rasheed to free them from the domination of the Ministry of Finance and imbedded two major banks competitors for local and foreign banks law,"
adding that "this project will be submitted to the Presidency of the Parliament in the next few days for discussion and voting on it.
Millionday: NOTE -- UNDERSTAND THE DIFFERENCE IN WHAT WE ARE SEEING -- THIS IS NOT JUST BANKING LEGISLATION BEING FINALLY PUT TO LAW BUT ALSO THE FOREIGN BANKING LAWS AS WELL -- HUGE
Millionday: He added that the members of the "House of Representatives, especially the parliamentary finance committee are working hard to upgrade the Iraqi banking system through the support of the banking sector legislation of laws,"
stressing "the importance of the Banking Act, legislation to support the banking sector in the country."
Millionday: The economist said Mohammed Abdul Latif Al-Ani's "long", "The Banking Act despite repeated amendments do not keep pace with the great development witnessed in the Iraqi market since 2003 and is now opening up to the market at various levels."
He said. "Lack of experience of the development of State-owned banks in terms of size and nature of the activity and the type of services related to the weakness of the funds to contribute capital and non-banking services to keep pace with customer needs and limited activity, including not accommodate the needs of the local market."
Millionday: NOTE -- THE STATEMENT TO THE CITIZENS IS ---
"THE AMENDMENTS DO NOT KEEP PACE WITH THE GREAT DEVELOPMENT" BUT ALSO SAYS THEY ARE NOW OPENING UP TO THE MARKET -- WHOOOPOW
Millionday: He said "there is a need for substantial restructuring of State-owned banks in proportion to the reality of the global economy, which has seen quantum leaps represented technological renaissance that facilitated and canceled a lot of routine obstacles experienced by customers."
Millionday: NOTE -- OBVIOUSLY THE BANKS THAT ARE PRIVATE ARE MAKING CHANGES AS WELL IN ORDER TO COMPETE WITH THE BANKS ALREADY ESTABLISHED THAT HAVE ENTERED IRAQ
AND ARE FAMILIAR WITH THE GLOBAL BANKING INDISTRY –
IRA ESTABLISHING THE DEVELOPMENT GO TO BANK -- WAS A GREAT MOVE FOR THE LEARNING THAT IS REQUIRED ---
IT WONT BE LONG FOR THE PRIVATE BANKS TO BE ABLE TO KEEP UP IN THE ISX AND IN THE NEEDS OF THE CITIZENS DUE TO EXPERT HELP THEY WILL RECEIVE
Millionday: He stressed that "the work on the restructuring of banks according to the suit and plans projects implemented by the government,
so you must create an effective partnership between the state's economic institutions, most notably the official banks that would supplement the major projects of large liquidity-owned."
Millionday: NOTE -- REMEMBER THAT 10 FINANCIAL INSTITUTIONS HAVE RECENTLY MET THE CHALLENGE OF COMPLIANCE INTERNATIONALLY WITH ALL THEY HAD TO DO –
THEY WERE LISTED ON THE ISX SO MANY ARE WORKING HARD TO BE ABLE TO GROW AS WELL DUE TO THE OPENING OF IRAQ TO THE GLOBE
Millionday: Fund and stressed that "the establishment of a national banking system requires abandoning the current model which controls state-owned weak banks that enjoy preferential treatment that distinguish them from private banks,"
calling on Iraq to do to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.
Millionday: NOTE -- THAT IS WHAT A CHANGE IN LEGISLATION AND MARKET POSITION ETC IS WHEN DEVELOPMENT OF THIS SIZE OR ANY SIZE REALLY IN BANKING ACTUALLY DOES
Millionday: It is noteworthy that Iraq has seven banks owned by the state and 23 private banks and eight Islamic private banks, according to the central bank's website,
while dominated by the banking sector, banks, Rafidain and Rasheed Aovernmaan, currently undergoing restructuring for debt accumulated after years of war and sanctions repay.
Millionday: NOTE -- TOLD YOU TO HOLD ON TO YOUR HAT ---- WHOOOOPOW
ernier: You are showing this is what an economist said - is it a suggestion or actual
Millionday: THEY ARE ACTUALLY DOING IT AND WE HAVE THE PATH COMING IN OTHER REPORTS I AM BRINGING
Millionday: IT MEANS THE LAWS THEY HAVE WRITTEN WHEN IT IS TIME TO GO TO GLOBE ARE NEEDING TO BE PUT IN PLACE FOR IRA TO GO BACK TO THE GLOBE
clay: is the new law using dinar only implemented
Millionday: THEY COMPLAINED ABOUT THE AIRPORT USING US DOLLAR THE OTHER DAY AND TO REALLY LOCK IT DOWN AS THE ONLY CURRENCY
faith1: haven't they announced this before with the ISX ? going global??
Millionday: THIS IS NOT ABOUT THE ISX GOING GLOBAL HUN
faith1: ohh ... guess i mis understood... about banks right ?
Millionday: THIS IS VERY GOOD AND UNDERSTAND THAT THIS IS BEING TOLD IN PRESS STATEMENTS TO THE CITIZENS AS WELL
Millionday: YES HUN ABOUT THE BANKING LAWS SO THAT IRAQ CAN GO TO A MARKET ECONOMY WITH THE DINAR OF IRAQ
Millionday: OK BRB WITH MORE
Millionday: LOTS MORE
Millionday: KEEP HOLDING YOUR HAT
Millionday: THIS IS THE HUGE STEP THAT ALL INVESTORS ARE LOOKING FOR THAT ARE INVESTED IN IRAQ
Millionday: THIS IS THAT GOOD OF NEWS
Millionday: BRB WITH MORE
Millionday: Parliamentary Services Committee began discussing paragraphs infrastructure law, in preparation for sending it to the Presidency of the Council of Representatives for inclusion on the agenda.
The committee member said Hussein al-Maliki said in a statement seen by "obelisk", "The Committee has worked to host the Director General of the Ministry of Municipalities with a statement advisers to suggestions on this law," noting that "SAGE soon on the agenda of the House agenda.
Comments may be made at the end of Part 2 Thank You