Millionday Chat - CBI Announcement

[Tankwalker]

 

Long read as usual with Millionday, but lots of good information.  Towards the bottom there is information regarding the CBI update(announcement) that was being discussed in the News section here yesterday.

 

 

Millionday News 8/16/13

     [millionday] Member of the Finance Committee ruled out MP//Secretary Hadi, the security situation on the work of foreign companies operating in Iraq, likely improved national economy and increase its growth in the coming period.

 He said Hadi (News Agency): despite the security breaches that occur now and then in the country, it did not affect the work of foreign companies, as many companies work and conclude contracts with ministries and governorates, stressing that the situation in Iraq is not new to the world but there are States worse security situation of Iraq

     [millionday] now read the next part  smile

     [millionday] He added: that Iraq possesses substantial economic resources including oil, so there are no worries about a possible economic downturn in the country, but the Iraqi economy will probably substantial growth during the coming period, especially after the improved value of the Iraqi dinar against the dollar, this gives a clear indication of the strength of the economy. 
...
Read More Link On Right

 

  Iraq suffers from deteriorating security represented by continuous bombings occurred in the capital and some provinces, some economists fear the security situation impacted on the growth of the economy and the advent of global companies

     [ROBINREDHED] improved value of the Iraqi dinar against the dollar,

     [millionday] especially after the improved value of the usd and the dinar -- love that

     [ROBINREDHED] improved value of the Iraqi dinar against the dollar,

    [ROBINREDHED] improved value of the Iraqi dinar against the dollar,

    [ROBINREDHED] improved value of the Iraqi dinar against the dollar,

     [millionday] whooop whoooop

     [faith1] when is the coming period ???!!!

     [millionday] so there are no worries of the security problems and they are moving forward -- have to say i love that

     [Godsalli/Jim] If that was the 1st time we heard that I would be excited.

    [moneymom] improved value of the Iraqi dinar against the dollar,...YES WHEN IS THE COMING PERIOD?

     [millionday] well i am and that is not the only reason   i would say the end of this month but we shall see --- dont see a date in ink  brb with more

     [bOBSFUN] ROBINREDHED I wonder how improved???

     [ROBINREDHED] BOBSFUN who knows

     [millionday] more positive news  oh boy  i think i am getting burnt out

     [ROBINREDHED] millionday millionday me too

     [millionday] so anyway -- that is good news to me

     [moneymom] MD just said end of month...we shall see whoop whoop

     [millionday] so let me bring what i got and hope you like it anyway   here is this

     [Papatom] i'm glad that good news is good news regardless of the listeners frustration level

     [millionday] here is this --- smile

     [millionday] Denied expert competent affairs banking Abdul Rahman Shaykhli the existence of money laundering large in the country. 

Pointed out in an interview for the (morning) to the possibility of reducing it by following all the means of care required under Law No. 93 of 2004 on combating money laundering and recommendations of the Financial Action Task Force to combat the laundering FATF money. 

He Shaykhli that the process of money laundering almost exclusively in non-official institutions and not through legitimate institutions, adding that the banking sector is not the only Evtaqraly governance, but all sectors of government and non-governmental particularly because the policy of good governance (or governance) for companies and banks must ensure Shareholders' equity also guarantee the rights of departments in these companies. 

Sheikhli summarized the challenges facing the banking sector, which hampered the performance of its role in development

     [millionday] we have fatf as well in our modern economic system

     [ROBINREDHED] fatf?

     [millionday] Financial Action Task Force

     [ROBINREDHED] ok

     [millionday] Legislation for legal work for the banks it is to ensure the performance of this task, as well as the need to amend some of the previous legislation to be able to promote the optimal performance of the banks and to play a role in the development process in Iraq, which has become one of the essentials in the next stage. 

He repeated Shaykhli that legislation is the main limitation of movement of the banks and the launch of her hand to seize opportunities is the way to reach the country of what we aspire to in Iraq agonist New be for the development of domestic and foreign where a large space. 

Seal Shaykhli Speaking Blaatkad firmly believe that mobility last between departments, private banks and management of the Central Bank reached effective solutions yielded good results, for example, including the low exchange rate of the Iraqi dinar rate for foreign currencies.

     [millionday] this is very encouraging >>> development process in Iraq, which has become one of the essentials in the next stage.

     [millionday] so there as we see they are working on the this coming to fruition in the next stage which would lead us to believe that is the the beginning of sept or as the reform goes to law which i would assume would be the end of the month or before -- we shall see

    [millionday] the economic reform includes the change in the rate to foreign currencies

     [millionday] also we need to remember that the two things that the imf had last said was that they wanted the federal economic reform law and also the rates to the foreign currencies set

     [millionday] News: assured U.S. Secretary of State John Kerry, on the necessity of activating the efforts directed towards preventing arms smuggling between Syria and Iraq require activation.

 Kerry said in a press statement seen by the agency "View News" after the joint conference held with his Iraqi counterpart Hoshyar Zebari after the end of their talks yesterday (Thursday 15 August) in Washington, 

"The agenda for the meeting with Zebari also included Multi arms flow resulting from the Syrian crisis to Iraq to be used against the Iraqis, and moving weapons through Iraq to Syria. 

" He described it as "street two-way street," and added, "it was the success of a particular to prevent the smuggling during the time interval on his recent visit to Iraq last March," past to say "Foreign Minister Zebari agreed that concrete achievements in this file must be reached with later.

     [millionday] With regard to the situation in Syria, the U.S. minister said "many leaders of the base are now active in the Arab country in which the civil war," he said, adding that "we all must accelerate our work in order to create the conditions for a diplomatic solution to the Syrian crisis." 

The Minister of State that "the Sunni and Shiite extremists threaten the stability of Iraq if they were allowed to work without hindrance."

 In a separate context, welcomed Kerry to "restore relations between Iraq and Kuwait to normal, and to improve its relationship with Jordan, Zebari plans to hold a meeting" as soon as possible "with Turkish Foreign Minister Ahmet Davutoglu."

     [millionday] And held in Washington yesterday (Thursday, 15 August cur) held a press conference between Iraqi Foreign Minister Hoshyar Zebari and his U.S. counterpart, John Kerry, which he called Zebari said the U.S. government to provide assistance and support and security cooperation with the Iraqi government in the field of counter-terrorism and build the capacity of our security forces to stand in the face of this growing threat of al Qaeda and the Front victory in the flow coming from Syria. 

Zebari said at the conference that Iraq has recently renewed violence and terrorist attacks by al-Qaeda.

     [millionday] so in order to bring the relationships back to normal it would include trade and of course visas -- communication ect

     [millionday] brb with more

     [millionday] The United Nations said on Friday that thousands of Syrian refugees have flocked to the Kurdistan Region on Thursday in a move that "sudden and huge" beneficiaries of a new bridge on the border closed significantly. 

She added that between 5000 and 7000 refugees Oakbwa the first group included about 750 people crossed bridge Vichabour over the Tigris River and was seen more buses which families descend on the Syrian side. 

Said Adrian Edwards, a spokesman for the United Nations High Commissioner for Refugees (UNHCR) told a news briefing in Geneva reported by Reuters, "through thousands of Syrians to northern Iraq (Kurdistan) yesterday (Thursday) in a surprise move and huge."

 It was mostly families, including women and children and elderly from Aleppo and Hasakah and other areas torn by war in Syria, where he escalated the civil war, which entered its third year and paid nearly two million people to flee their homes.

     [millionday] i found this interesting due to the situation there  and also the economy must look better to pick to come in the thousands -- just a thought  this is very interesting at this stage

    [millionday] this is an award of bids and also with the group it comes from -- looks like the beginning is around the corner --

     [millionday] Award Winning Announcement of the Invitation Number(5.D/2013) To: the participating companies in the above invitation concerning the Iraqi Retail Payment Systems Infrastructure project (IRPSI). 

We would like to inform that the above invitation was awarded to (BPC)Company with amount of (14,311,342/-)USD if there is any objection it can be submitted within the statutory period of 7days by 12/8/2013. Legal Affairs Department/ Contracts division This is from CBI -- so it must be a federal contract -- very very good news  ] brb with more

     [millionday] when contracts are not just mou`s -- we like it and this is progress showing the move to start contracts   brb with more

     [R&R] millionday that announcement was on the Arabic side of the CBI site yesterday saved as a PDF.... I was wondering what it was also i have an article from yesterday discussing the need to expedite the economic reforms if you want it

     [millionday] my opinion is that it is the retail card system -- so very good brb with more 

     [millionday] here is the summary of who they are so of course we are happy pappys

     [millionday] Founded in 1995, BPC is the world’s leading provider of Open System, e-payment solutions for the global financial industry. 

As the developer and distributor of SmartVista—a comprehensive suite of solutions covering every aspect of electronic payments processing — BPC has designed an innovative platform featuring a flexible, scalable, high performance solution, SmartVista, that will grow as your business grows. 

BPC’s tier-one client base includes leading, international financial institutions located across 26 countries and four continents with several of the world’s top 100 banks as clients. 

To drive expansion efforts, BPC has established a network of global offices including the Asia Pacific; Central, Eastern and Western Europe; MEA; Mexico and Central and South America and the U.S. BPC’s philosophy of keeping close to customers is based on local pre and post-sales support and long-term relationships with local customers and partners. With offices around the world, BPC provides local language support staff in each regional office

     millionday] whooop whooop --- love research -- it makes me happy and i hope that does you too

     wilbur48] This is a long time coming as it will connect all the Iraqi banks together on a central ATM network, phone banking, etc

     [millionday] smile  ] brb with more   now remember the fiber optic system is with at least one line to region and will be growing so the hook up is certainly possible    brb -- big smile

     [millionday] lifting of the international sanctions from the Iraq government has taken place recently. This led as a chance for the Iraqi government to reduce the difference between Iraqi dinar and other foreign currencies. 

There are so many discussions taking place of late and most of the economists favor Iraq to omit zeros from its currencies. The Central Bank of Iraq is looking at this matter with high concern and due to building process of strategies, there are some delays.

 However, there is a threat that has been clouded around the Iraqi economic scenario, regarding this delay from the end of the Central Bank of Iraq authority.

 It is assumed that Iraq may lose billions of dollars due to this delay. Abdul Hussein Al-yasiri, a member of parliamentary Finance Committee, has recently mentioned that lifting of UN sanctions on Iraq has given the country a fair chance to rejuvenate its economy. 

As the country is receiving high investments from different parts of the world, it is the right time to reconstruct its economic infrastructure and strengthen its economy

     millionday] yes this is the best part of what they are going to be doing as we saw what their purpose is -- this is what will apply to iraq as they have in the bid

     [millionday] The RPSI will be tendered as a single integrated solution including: (a) Overall integration of the RPSI systems; ( Software and infrastructure for the Iraq Interoperable Mobile Payment System; © Software and infrastructure for the National EFTPOS / ATM Switch; (d) Integration with the Iraq Payment System (IPS) clearing and settlement facilities consisting of the Check‐enabled Automated Clearing House (CACH), the Real‐time Gross Settlement System (RTGS)

and the Central Securities Depository; (e) Integration with the Participant Banks, Mobile Network Operators (MNO) and the existing EFTPOS/ATM Switching and Mobile Financial Services Systems (including but not limited to existing Bank Front End Processors (FEPs), the AMWAL System and the QI System (International Smart Card Company).

     [millionday] now let me get the rest of the last one it is a whopper i was bringing -- love it  and know that this is also a great one from cbi -- the bid means that is their issuing

     [millionday] For rejuvenating the country’s economy, the first step would be taking the country to a new leap through omitting three zeros from the Iraqi currencies.

 He also added that it is quite possible to strengthen the Iraqi dinar by raising its value and the present scenario in the country is in favor of that. He mentioned, “Country’s exit from Chapter VII on the political side, contributed to the liberation of Iraq will on the economic side, give Iraq much room on important issues including banking, on Iraqi and foreign currency trading, as well as investment in Iraq has not been able to attract investment during the previous period.”

     [millionday] mentioned that there are a few sectors in Iraq which are needed to be developed and have high potentials. Agriculture, tourism, construction, communication, etc. are a few sectors, which have high potentials. 

However, oil sector is the base of Iraqi economy at present and the nation is building itself, depending on the oil industrial development. As a result, government is also expensing highly on this sector in order to reap out more benefits from this sector of the country. 

Mr. Abdul Hussein Al-yasiri also remarked, “The procedures be adopted to increase the value of the dinar currency, requires the Government to pay tribute to all sectors of production and investment to support the local currency.”

     [millionday] now this >>> “The procedures be adopted to increase the value of the dinar currency, requires the Government to pay tribute to all sectors of production and investment to support the local currency.” -- is what the signing of the federal economic reform is for

     [millionday] and know they are talking the process is being done due to the fact that pulling in the currency and supporting the constitution and the next step for iraq to enter the globe as we see they are by pushing in the accounting for international compliance with isx -- is a result in all of these steps

    [millionday] and know this is not just talk as some think

     honor and glory] 7:47 PM [Papatom] millionday is this You sayig this.??? or was this said by someone else? it sounds western....

    7:48 PM [R&R] millionday awesome news

    7:48 PM [ROBINREDHED] millionday millionday millionday millionday millionday millionday millionday millionday

    7:49 PM [millionday] yes this is the best part of what they are going to be doing as we saw what their purpose is -- this is what will apply to iraq as they have in the bid

    7:49 PM [millionday] The RPSI will be tendered as a single integrated solution including: (a) Overall integration of the RPSI systems; ( Software and infrastructure for the Iraq Interoperable Mobile Payment System; © Software and infrastructure for the National EFTPOS / ATM Switch; (d) Integration with the Iraq Payment System (IPS) clearing and settlement facilities consisting of the Check‐enabled Automated Clearing House (CACH), the Real‐time Gross Settlement System (RTGS) and the Central Securities Depository; (e) Integration with the Participant Banks, Mobile Network Operat

     [millionday] honor and glory this is what the updated report says on cbi as the reason and the result from the winning of the bid for that company -- the process of managing the cards and e-commerce in the country or better known as using the internet and phone and card swipe -- atms ect ---

    [millionday] this is what they will be doing after winning the bid -- that is what the company does  this in other words is rocking and i mean rocking -- good news for us

     [millionday] our favorite thing at PI is --------------------------PROGRESS

     [wilbur48] honor and glory this report is from a pdf on the cbi site http://www.cbi.iq/docume ··· 20EN.pdf

      [millionday] smile

     [Papatom] millionday it's the answer to so many questions...in ink...for sure!

     [millionday] oh yes very many  and it also can be found in the news time from tonight  so lets get back to what i have before it is tomorrow – smile   brb with more

     [millionday] now remember this is what was sent to parliament >>>>>>>>>>>>In its 35th meeting, headed by Prime Minister Nuri al-Maliki, the Council of Ministers approved the draft Law of the Federal Economic Reform.

According to a statement, received today, it has been revealed that the Council of Ministers has also approved the draft law to amend the regulation and legislation Law. Both the draft laws have been referred to the parliament.

     [millionday] all regulations as well  smile   brb with more

     [millionday] Called on the religious reference to San Matmayora in Karbala politicians to unite and miss an opportunity to the enemies of Iraq, warning at the same time continuing security breaches.

 He said a certified reference Sheikh Abdul Mahdi al-Karbalai in his Friday sermon to thousands of worshipers in the saucer-Husseini yesterday: 

"Iraq is living a series of bombings successive and after each failure of a security or a service, all of the parties concerned blames subordination and default on other parties and each party wants acquittal himself in order not to lose his or score political and popular, so the remaining failures because everyone is not looking for the diagnosis and the search for causes of processors. "

     [millionday] Ncaa pointed out that "such absent themselves the real reasons and not put their finger on the wound." 

He told politicians: "If you are afraid of the popular Rshehadkm Flakm first the fear of God", pointing out that "if what is left of the case so the parties involved in the government there is hope for the solution." And Ncaa said: "There is a relentless campaigns determine how each party to the other party, which increases the strained situation and harm access becomes very difficult to solve."

     [millionday] Ncaa called on politicians to "unite against the dire situation has reached some countries in the region and agree on the word, whether out of the ordeal."

 Turning preacher F Karbala to cases of corruption, which he described as not expire and that the problem lies according to the word specialists not accounting spoilers adults and explained, "spoiler large has a mass defended a fortified If they overflowed the smell of corruption him to mm luggage and bags and papers and out of Iraq pregnant nationality second to live in best if not batting an party has no trembling conscience. "

     [millionday] this is a statement by religious authority to get it together -- of course they have as we know a lot more respect there then in most countries so this is a strong talking to so to speak

     [millionday] so that is all we have that we care about for our investment  i hope you have enjoyed the news time and have a great night 

 

[SgtFuryUSCZ]

***///

 

We're holding out for The Kurds to form their own country and RV....

 

probably happen sooner than waiting for these cats who don't have their shiite together.

[Shang Man]

I guess the way I see it, that is way to much to read. It would be best to just get to the point...are we looking at an RV this year or next? I'm thinking, Next.

[Alex38]

Ugh... 2052.

[sandfly]

THANKS

[TotalNewb]

2052, lol!

[pricestar8]

Good news

[Kimjackie]

With all the violence and killing in Iraq they may never RV, might be another war who knows with them. I am not counting on anything of value from my Dinar,  but will continue to keep it in a safety deposit box just in case. 

[millionaire in training]

I guess the way I see it, that is way to much to read. It would be best to just get to the point...are we looking at an RV this year or next? I'm thinking, Next.

 

I agree with Shag Man ,  Way too much to read. He board me half way through it. Just make your point so we can get the gist of it all.

 

Did he finally say anything important?        Please let me know.