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zul

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About zul

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  1. Public debt law they are talking about is actually CPA Order 95, Financial Management, and Public Debt Law, which will be superseded by the new Financial Management Law (tentatively scheduled to be voted on Apr.17).
  2. Yep.....they First Read the bill on Jan.12, 2019. Not sure if they have completed all the readings BUT according to the agenda of the Parliament ~ Apr.17 is the date they are going to vote on this law. COR finishes reading three laws and forms Investigative Committee January 12, 2019 In its 25th plenary session held on Saturday January 12, 2019, the Iraqi Council of Representatives finished the first reading of three laws and voted to form an investigative committee on the fire that broke at a women’s shelter in in Adhamiya. The session was chaired by the First Deputy Speaker al-Kaabi and attended by 186 MPs. At the beginning of the session, the council voted to form an investigative committee on the fire that broke at a women’s shelter in in Adhamiya with the participation of MPs of the Committees of Women, family& childhood, Human Rights, Labor & social affairs, and Security and Defense to follow up the issue with the concerned authorities. The investigative committee was comprised of the following ladies and gentlemen: Mohammad Reza, Jassem Hussein, Haifa Kazem, Wastifah Mohamed, Intasar Ali Khader, Sarwa Wanas, Insijam Abdul Zahra, Basma Mohammed Basim, Arshad Al Salhi, Hussein Said and Assaad Abdul Sada, in addition to Ms. Faten Abdel Wahed, representative of the Commission on Human Rights. On a different note, the Council ended the first reading of the Legislative Proposal for the First Amendment to the Scientific Academy submitted by the Legal Committee, which aims putting the staff of the scientific Academy with their peers of Iraqi universities, being equal in rights and duties. The Council completed its first reading of the Financial Management Bill submitted by the Finance Committee. In the same context, the Council completed the first reading of the Legislative Proposal for Informatics Crimes Law submitted by the Committees of Security and Defense, Higher Education, Legal Affairs, Culture & Media and Tourism & Antiquities, Women, Family, & Childhood, Human Rights, and Services and Reconstruction. The Council postponed the first reading of the Legislative Proposal for the First Amendment to the law of Iraq Money Recovery Fund No. (9) for 2012 , submitted by the committees of Integrity and Finance to the next session. The session was then adjourned to next Monday 14/1/2019 Media Directorate Iraqi Council of Representatives 12/1/2019 http://en.parliament.iq/2019/01/12/cor-finishes-reading-three-laws-and-forms-investigative-committee/ 
  3. Why do u think some advanced economies have factories outside of their countries? Wouldn't it be better to have them in country as these wld provide employment and other benefits to their own ppl? The answer is simple: low cost labor, low cost materials, low cost productions therefore low competitive pricing. Even a diff of 5 or 10 cents wld make a huge diff if we are talking huge volumes.
  4. Vote.That's the keyword😁 Somehow they must have read this draft prior to this.
  5. This is the law that will change the fiscal and monetary policies in Iraq ~ aimed at raising the dinar exchange rate and maintaining the stability of inflation. Hope they will include this law in their coming agenda.
  6. U r missing the whole point. Exporting countries prefer low exchange rates as this will contribute to low cost of doing biz as a whole (meaning: low labor cost, low material cost, low production cost). Making the pricing of their products more competitive than other exporting economies. Whereas importing contries like Iraq, Kuwait, Bahrain prefer to have high exchange rates because cost of imports will be relatively cheaper and 'less' outflow of money.
  7. Of course they don't. They are exporting economies. They prefer low exchange rate. Good for their export.
  8. Now I'm not so sure if that is a real monkey.....😂
  9. I guess the best thing is to wait... Otherwise we'll be talking 'maybes' and 'ifs'
  10. Like I said earlier, inflation rate in Iraq has been very very low (between 1.8% to 2%) for a few yrs now. So this change of monetary and fiscal policy (aimed at raising the value of dinar) has nothing to do with (current) inflations. But once done ( Parliamentary move to raise the price of the dinar and maintain the stability of inflation ) they want CBI to maintain the stability of inflation. Meaning.....it is the other way round now: Increase the value of dinar, and then maintain the stability of inflation.
  11. Slightly? Could be...... But why go thru the hassle of going to the parliament, enact a new law, change their monetary and fiscal policy when CBI could have easily adjust their exchange rate 'slightly' like they have done before (1170, 1166, 1184, 1190)? Mebbe they just like doing things the hard way I guess. lol!
  12. Just so u know....for the past few years inflation rate in Iraq has always been below/within 2%. So this increase in the value of dinar that they are talking about is not to put a lid of inflation. The article I was talking about ~ Parliamentary move to raise the price of the dinar and maintain the stability of inflation (another title: Article: "PARLIAMENTARY FINANCE COMMITTEE IS DEVELOPING MECHANISMS TO CHANGE THE COUNTRY'S FISCAL AND MONETARY POLICIES IN COORDINATION WITH THE CENTRAL BANK OF IRAQ" ) Wednesday 20 March 2019 Baghdad / Omar Abdul Latif The Parliamentary Finance Committee is moving in the current legislative session to develop mechanisms to change the monetary and monetary policies in the country, in coordination with the Central Bank of Iraq, aimed at raising the dinar exchange rate and maintaining the stability of inflation. "The committee will move during the current legislative term towards changing the fiscal and monetary policy in the country in general," said member of the committee Abdul Hadi al-Saadawi, Coming ". He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country". "The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment." Happy reading.
  13. "Until this is changed NO other country bank will accept IQD" True. Currently Iraq is under IMF Article 14, and that is why IQD is not a convertible currency.... But article 14 is just a transitional arrangement and not meant to be a permanent feature. Eventually Iraq will have to get out and embrace IMF article 8. But to do that, they will not only have to notify IMF of their intention but they also have to change their monetary policy as well. And just last week or so, Fin.Com told us that they will enact a new law to change their monetary and fiscal policy with the aim to increase the value of dinar (exchange rate). The point is: they are going to change. As to your claim that " Iraq  does not want the IQD to have any value outside of the country", I don't really know how to respond to this, to cry or to laugh? Btw, where did u get this idea from? One more thing....u said " under current Iraqi Law Iraqi banks cannot exchange dollars for IQD except to Iraqi citizen" ~ okayyy, but what has that got to do with us, dinar holders outside of Iraq? Who is going to change their IQD for dollars or euros or yen with Iraqi banks (when the value of IQD increases)?. Rock, these are all basic questions that have been debated before. Questions like ~ where is the dollar coming from during cash-in? Are u serious? There won't be any physical dollars or whatever other currencies, you will most likely receive electronic money. ~ No banks outside Iraq will accept IQD. Not if they are under IMF article 8. That's what exchange rate is all about in the first place. Iraq will never RV. Maybe, but they are planning to add value to their currency, to increase the value of IQD. So i'm not sure why u r still asking these questions when u can actually find those answers somewhere in this forum.
  14. There....u just answered ur own questions. No physical USD needed for the RV, it will all be electronic. And whatever physical currency needed, it will be less than 3%. So there is really no question of where the 10 billion physical dollar is going to come from (or GBP, Yen, Euro ~ depending which country u r from) It will be a normal, biz as usual, buy/sell between us (dinar holders) and the bank. The banks wld then sell their foreign currency to their respective central banks.
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