[millionday] k -- here we go -- note - this is part of the data system and telecommunications etc etc
[millionday] Committee for economy and investment Deputy/National white block/Aziz Al-mayahi, the Central Bank need to phone Bank project which will transfer advanced global experience to local banks to facilitate banking transactions in the country. He said Al-mayahi (News Agency): the telephone banks is evolving and new projects in the world, banking sector needs so projects to facilitate banking transactions and to develop its work
millionday] States of the region and the adjacent banks up local hand techniques to speed up the implementation of this project is to support and develop local banks. The Central Bank said in an earlier telephone banking project, which is the banking transactions and financial transfers across mobile device.
Read More Link On Right
[millionday] they are talking about something we are used to -- so once again it is not like reinventing the world -- just needs to be backed up by some company to make sure it runs smoothly -- or i should say -- many companies brb with more
[millionday] now this tells us that this process has been done -- love when statements give us answers -- and this is huge
[millionday] Central Bank of Iraq, said Thursday there is scarcity in Banknotes good with small category in the markets to the weakness in the mechanism of receiving damaged, and pointed out that “careful” not to treat citizens or markets currencies damaged, because it works to continually replace, while confirmed having confounded much of those currencies potable ready to put up for trading.
The governor of the central bank and agency Abdul Basit Turki said in an interview to (range Press), “The Central Bank is keen to not be there Banknotes damaged and in large quantities within reach of the citizen, or even in the market, because it works on them or replace them in ways that legal” noting that “the central bank has a large inventory of currencies, and has control of the Iraqi currency trading can not be that there is a lack of currency or something like that.”
[ROBINREDHED] continually replace?
[millionday] note -- the damaged have been pulled from the market -- and this is just the small denoms that will remain in circulation -- huge -- now lets read the rest for clues --
[millionday] they are complaining that it wasnt done right or thoroughly -- as they are being used for buying things they have been removing them and also asked they be brought to bank but -- some are still showing up
[millionday] The Turkish that “a mechanism to receive the central bank currency Damaged be through banks only, because the Directorates Bank does not have a presence in the market,” noting that “the bank records sometimes scarce in some categories of currencies small, because the damaged ones is not up to the bank in regularly until they are replaced with new ones. “
It is noteworthy that the phenomenon of the spread of the currency damaged or become a nuisance to a lot of citizens and traders, taxi drivers, because they are upset to handle any paper money cut or connected to, as well as that this phenomenon imposed itself on the circulation of people and led them to accept the deal currency damaged to preserve the continuation of their work well
[millionday] so this was and is part of the process and they are saying that some did not bring theirs -- big shocker but we like it because it is cbi stating that this process is done for the smaller denoms they have had and will remain -- but it is check marked to be done --- by cbi and we like that !!brb with more
millionday] Raised the issue of deletion of zeros from the Iraqi dinar and promoted by the central bank in recent times a lot of talk among professionals about the economic feasibility and its impact on the Iraqi economy, has reported advisers at the central bank that the deletion of zeros will help to alleviate the Event inflation suffered by the Iraqi economy where This action will help to reduce the money supply in the country,
which according to them is one of the causes of inflation arguing that the timing is so suitable for the stability of the Iraqi economy, which is experiencing a stable dinar exchange rate against foreign currencies.
Is Xavi on specialists in monetary policy, economists how dangerous this procedure on the Iraqi economy at this time, as the results that are expected to achieve a reduction of inflation do not need to delete the zeros, but you need to development work in the field of the real economy and not a placebo policies cash is a reflection of the reality the real economy, which is
[millionday] note -- cbi says the timing is right and we dont like this other guy that seems to think it isnt
[millionday] this is also saying that putting in the reality rate will be the best thing -- not just removing the three zeros -- and of course we agree
[millionday] production of goods and services and when we want the reduction of limited inflation must look to the productive sectors in the country and help them obtain the salvation of the obstacles they face and live up by the local industry through the provision of support to them in addition to doing codified volume of goods and imported goods through taxes, tariffs, customs and other legislation and laws that guarantee prosperity for all sectors of local industry.
We need authorized the reduction of inflation led to deliberate and sustainable development organization for all the real economy based facilities monetary policy and fiscal policy in turn through the coordination between the various policies and development plans.
[millionday] note -- this is meaning the private sector and its results through a free market economy -- supply and demand -- this would also include the dinar -- as far as supply and demand
millionday] A lot of concerns surrounding the process of deletion of zeros, if we look at the countries that have done so are the latest countries are Turkey, we find that it has a strong economy and stable and that this process has stages and the most important is the community’s understanding of this process in all its details and absorbed for the new currency,
but if we do that there are a lot risks and concerns that must be put into consideration, including the possibility of confusing the economic lead to loss of confidence in the Iraqi dinar and the possibility of exchange rate changes in addition to the cost of the new currency and especially that Iraq did not possess
Press private, but prints the currency in Britain, not to mention the difficulties related to balancing the state and investment plans debt and equities, bonds and other risks which may be caused by the move.
[millionday] note -- as in change -- no one likes change but it must occur
[millionday] That the deletion of zeros from the currency is not a treatment, but comes as a necessity when the economy situation of the growth of a continuous and stable full, not stability, they are talking about is the stability of the exchange rate is stable and placebo because it is not based on economic power,
when it is the process of removing zeros from the currency is necessary because it helps to coordinate between policy and give plans and clearer more with numbers understandable for all and contribute to the reduction of the money supply and more importantly that this process must be carried out at different stages according to a deliberate plan and that the process is educating for the new currency in all ways and methods to accommodate by the citizen and the investor.
[millionday] note -- must be done
[millionday] When you take a closer look at the reality of the Iraqi economy, we find that the dependence on oil, primarily the basis for the financing of the state budget, in addition to loans and income from simple, and industrial and agricultural production and other sectors is negligible clear to us is that the so procedure does not achieve any growth of the national economy,
but may contribute to reactions affect a negative impact on the general economic situation, and the reduction of limited inflation, a main justification for all this will not be achieved as soon as the deletion of zeros and that this process will not achieve any increase in the purchasing value of the Iraqi dinar frequency in the news lately about the process of deleting three zeros from the Iraqi currency under the pretext of reducing the amount of money in the markets and raise the value of the currency against the global foreign exchange, which reflects positively on the economic situation of the country and the return of Iraqi dinar to its former glory and glory before the first Gulf War
[millionday] note -- dont worry about pulling in the three zeros ---- they are saying that will be a result -- just set the rate against the other currencies of the world and all else will fall into place as far as confidence
[ROBINREDHED] omg cool to hear
[millionday] oh yes makes perfect sense >>>>>>>>>>>>>>>>>>>>>>>>>
[millionday] But reduce the amount of money is not a formal is the most effective solution to the problem of inflation and revive the country’s economic situation Who became a yield economy depends mainly on what issued by the country of Petroleum.
But the problem lies in the difference between what is produced locally from goods and imports and work to reduce the madder between exports and imports so that the country produces Ihottagh of food agriculture local available merits of the wealth of water and muck only need to support the government as well as goods manufactured locally,
which is produced in neighboring countries, less potential and wealth of material and human resources of Iraq, which is available where all means of development and this step, we have maintained the hard currency of migration out of the country and thus add real value of the Iraqi dinar and create jobs to support the economy and reduce unemployment
[millionday] note -- they have to stop the embarrassment of the rate and make it make sense to the difference with export /import deals -- right now it isnt a match in value
ROBINREDHED] well im embarrassed by their rate too
[millionday] It must be noted that there are important steps should be taken before the replacement process, but it spread the culture of the Iraqi individual in how to deal with currency precedent and a new currency on the market and not to be drawn behind the rumors promoted by weakening the souls of beneficiaries that the old currency value
As happened in replacing the current currency after 2003 as well as to be government control of the bankers The government and private banks and ensure impartiality and non-extortion for the simple citizen against the replacement of the old currency.
[millionday] smile -so they are saying they have to set the rate and just supply information and also monitor the banks --- the replacement of damaged is done and it is now time to change the rate to do trade
[millionday] im smiling large that is fantastic and we couldnt agree more
[hbladyfish] Is that the cbi saying that?
[millionday] that my friends is a whopper of a report and obviously shows us that they are thinking as we are -- its time to move ahead yes cbi brb with more
[ROBINREDHED] it is time......
[millionday] whoooop whooooop is in order smile
[gpleas] christmas in October thanks Millionday
millionday] this is fantastic too -- and i tell you why -- they are talking about what to use to back the rate they are going to set for the dinar -- and that is a good day for us
[millionday] Economic expert called on behalf of Jamil Antoine, on Saturday, the central bank to adopt oil and gas Kkhozan the reserves instead of gold and the dollar, stressing that the value of oil exports during the year twice all the gold reserves in the country.
Said Antoine told him the reporter, “news agency Iraqis,” that: “reserves the central bank alone is not enough to maintain the stability of the Iraqi economy, where you must rely on reserve economist is the stock of oil and gas, because the reserves the central bank money and gold is not equal to the export of oil to one year . “
Noting that: “Reserve the main possible to protect Iraq’s economy is the stock of oil and gas in the ground,” and explained that “the statistics of the Ministry of Oil indicate that the oil reserves reached about 150 billion barrels and 19 billion m3 of gas, up to the month of February of the year Current.
[millionday] meaning that it will back the rate to a stronger rate -- but at this point we just want a rate -- gold, oil, peanut butter , who cares -- just bring it on -- smile brb with more
[millionday] this means the 14th and 15th of this month
[millionday] Parliamentary sources expressed the hope to reach real results that will approve the election law, saying that convergence between the various political blocs, to pass the law by following the Eid al-Adha.
These weights, after assurances from the independent High Electoral Commission, announced the opening of centres updated voters next month, and their willingness to use modern electronic techniques in counting operations for future elections.
The House of representatives, select next April 30 as the date for general elections, having failed to pass the election law, four times, which called for political blocs to move broadly in order to pass by, before the vote.
millionday] The MP block citizen, Habib Terminal in SMC "morning" that "the electoral code of laws and sensitive task, especially since it draws political map for the next four years, to be adopted in order to achieve the best interests of the citizen."
MP: "we are in a ' National Alliance emphasize the holding of elections as scheduled without delay, and with the adoption of multiple circuits and open list format which allows for greater citizen to choose his representative." He stressed that the importance of terminal of law "among the challenges facing the country internally and regionally, as well as the need for transparent elections and the Organization of a reservation options and people to the political process."
[jimplants] you said 14 and 15th of this month?
[Dovi] jimplants thats Eid al Adha
[millionday] Kurdistan Alliance MP Muhsin Al-Saadoun told the "morning" that negotiations between the blocks for compatibility on election law needs to more seriously, adding that views close to the solution, but the Kurdistan Alliance sees the importance of having Iraq one electoral constituency,
what eliminates the problems relating to the compensatory seats located on the current law and the holding of elections on schedule. "
And Al-saadun "multiple circuits and system allocation of compensatory seats must take into account the increase in the number of population according to United Nations Statistics, the Ministry of Commerce and planning that the number of Iraqi souls reached 34 million, calls for a mechanism to delineate how to add the increase in seats for all provinces, as they will be influential in the election results and the number of seats".
[millionday] they are saying they are going to move it through after the two day holiday -- so this is saying that they are trying to make sure they are represented fairly
[millionday] and it is not hard to understand -- if iraq wants them to be part of iraq equally then it should be done within their voting capabilities and influence -- so this should not be an issue but
[millionday] they do say no matter what the elections will go on -- this is what is important to international compliance issues so no problem for those of you following this issue brb with more
[millionday] wow great news again -- we havent had --(knock on wood) any bad news in a little while -- very encouraging to say the least - time to set the rate has me permanently smiling tonight -- loved that
[millionday] and to say that the rate should be backed by oil instead of gold and usd shows us they are setting the rate and of course it will be hard backed -- this is the goal for all currencies -- and it only makes sense too smile brb
[LBnFL] millionday millionday Thought everything we read before indicated that the gold and reserves WERE enough to back the "reality rate"
[wilbur48] cbi shows they are closed for Ed Al-Adha (4 Days) starting Oct. 15 ... maybe a good time for an RV
[millionday] trade union meets international standards -- so this will be put into federal law -- very good and shows they are headed to international labor unions -- this is good for many reasons but a huge standard for the region as well -- nice hun thanks
[millionday] LBnFL they are enough -- they are saying if they used oil instead -- it would make it more smile we like more -- really any at this point -- smile
[jimplants] bigger smile