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National Investment: amendment of the Investment Law which many privileges to the investor


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History of edits:: 2015/9/26 9:54 • 147 visits readable
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[bAGHDAD where] 
the prime minister for economic affairs adviser said the appearance of Mohammed Saleh, said that investment protection is the only and the main way to raise the economic growth in the country.
Saleh said in a statement to the Agency all of Iraq [where], that "the investment essential and important issue of protection of the fact that the country has no alternative to economic growth and raise the rates of development, but from investments overseas." 
He added that foreign investment collide today big handicaps most important corruption, stressing that "the fight against investment Iraq's equivalent of terrorism that attacks the country. " 
He explained that "any positive trend in investment protection is a war on terror and raise the country's development level." 
On the investment loans granted by the State to the sectors of agriculture and industry, said adviser to Prime Minister, he's a "tributary of the payment Economy wheel that should be exploited by the state and the beneficiaries of the establishment for the development of national production and submit it to the required level, "stressing the need to turn it into a" productive investments of goods ".anthy
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09/28/2015 20:04

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The continuing decline in world oil prices posed a significant threat to the Iraqi rentier economy, prompting the government and those responsible for the economic file to think about alternatives to rescue the economy.

BAGHDAD / Obelisk: the continuing decline in world oil prices posed a significant threat to the Iraqi economy, rent-seeking, prompting the government and those responsible for the economic file to think about alternatives to rescue the economy and avoid any potential crisis, including legislation Investment Law format attract investors and allow him to ground the appropriate legal environment to ensure that his money and speed up the implementation of the project.

Where we saw a number of experts and specialists in the financial and economic affairs that the Second Amendment to the investment law legislation that will reduce the burden on the State and the general budget being will contribute to the implementation of more than 4,000 project in various sectors, adding that the law gave substantial concessions to the investor and give him confidence and easy delivery territory procedures and adopted the principle of the window One obstacle to overcome administrative routine.

The economist said just Mandalawi, that the Second Amendment to the investment law was conducted by a group of experts and specialists and advisers and all of them expressed his opinion and put forward his idea and proposal, were most of the ideas in a constructive and keep up with the laws in force in most countries of the world and the region.

He Mandalawi that the new law addressed many of the problems that were an obstacle to investors and companies, including land, insurance and routine, since there are more than 4,000 investment opportunity in various provinces and various sectors, this law when the legislation will contribute to the implementation of more than 4,000 project, and therefore it has reduced from the shoulders of the state.

For its part, suggested a member of the economic and investment commission MP Najiba Najib, that the second amendment to the draft investment law will be passed during the next few days, especially after finishing the final touches him, saying that most of the comments were good and attractive for the investor.

Najib said that the main problem was encountered in the work of investors in the past is the territory and on the new law, we were able to put a solution, in addition to the issue of insurance Vtm develop mechanisms for how to deal has been allocated certain banks are dealt with by investors. She added that this law is good and necessary at the current stage of laws being will save the Iraqi economy and reduce the burden on the state and ease the burden of the federal budget, especially after the continued decline in oil prices, noting that the committee raised the law to the presidency of the parliament and will be presented to the Council in the coming days for the purpose of the vote.

He acknowledged the House of Representatives in October 2006 Iraqi investment law, but many foreign companies are still hesitant because of fears of security reality unstable in Iraq, in addition to the presence of some of the paragraphs is attractive for investment despite the amendment to the law in 2010, according to observers.

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I see voodoo. I see people practicing financial witchcraft. I smell magic in the air.

In the words of a very dear friend of mine ,cowtoter, I don't care what the Masters of the Universe types, new world order types, and one world government people do after the RV. Just as long as they get it done.

Edited by ladyGrace'sDaddy
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Economy: Investment pass a law this month

 

 

         


4/10/2015 0:00 

 BAGHDAD - Omar Abdel-Latif 
 suggested the committee «economy and investment» parliamentary, pass the investment law in the parliament during the current month sessions, stressing that «two fundamental points» setting off to delay the adoption of this law, which was hoped to be voted on before the Eid al-Adha holiday. She by Nora Albjara Committee told the «morning» Commenting on the importance of this law: that «important and will change a lot of obstacles facing investors, especially that the country is looking for other financial resources after the fall in oil prices» She added, that «the Commission ended all comments were added to the law in the last session of parliament that preceded the Eid al-Adha », stressing that the committee met with the First Deputy House of Representatives to the President, Dr. Hamoudi, this Algrd.utabat in this context:« was in the meeting, asking all what is possible to add some political blocs on this law in order to not be the there are problems during the vote in the parliament. »to postpone the voteMP Albjara, pointed out that the committee« I was surprised by the request of the Presidency to postpone the vote on the law, despite his presence on the agenda grounds that the presence of some of the proposals of the executive bodies did not add to the law ».waodan, that« the most important points that objected to by the executive bodies, lies in that the post of head of the investment rank of minister after the Committee voted to have the rank of Deputy Minister in line with the government's measures to reduce positions ».otry Albjara, that« This topic surprising because what is put forward by the Commission is not commensurate with the reforms advocated by the Government in terms of reducing special grades, because in this case would be for the government armies of retirees degree two managers who finish their service in those bodies ». special interests and the postponement Committee expected to be postponed Law proposed by the Commission and materials will benefit the investment and facilities in respect of, by, but it was discovered that the topic «related privileges and preference for private interests to public». With the second objection point stipulates «Enjoy the heads of investment authorities in the provinces privileges general managers during their presence in office , But Investment Authority insists on retaining their grades if they came out of the post ».obescon most prominent materials that will encourage investors to set up projects in the country, signaled a member of the economic and investment commission, that« the law has encouraged Iraqi and foreign and mixed private and public sector in the new investment projects » . Also supports the «single window so that there will be delegates from government agencies have the powers to grant approvals for investment projects, and to facilitate access to land for the establishment of investment projects and encourage the population to expand beyond the basic design, and encourage Iraqis and foreign investors after participating with Iraqis by giving them soft loans, bound to be a ratio achievement of 25 percent and guaranteed by the project »Economic .almusharah, also said« law put obligations on the investor in the event of failure to restore the property to its owner with a fine of $ clipper, and the introduction of a new concept of investment similar to the developed countries implement strategic projects himself or by a third party. » as well as «oblige ministries and departments not associated with the Ministry to provide good real estate to set up investment projects, and the granting of privileges and exemption from taxes and fees for investment projects on imported assets before startup, and exemption of investment projects from taxes for 10 years». as well as «the exemption of imported raw materials for commercial operation of the project fees and taxes, according to the proportions of the contribution of local materials that go into the product industry to encourage the utilization of the domestic product of Iraq, and to require government agencies in cooperation with the Organization for the completion of the direct investment project requirements within a period of 30 days after the issuance of the license ». In the end of her statement, Albjara expected, to see the law light during the current month after the end of all comments received it, suggesting that «if there were the will of the fact that the executive bodies to take advantage of this law will see the Iraqi investment and investors an opportunity to create a private in the safe areas in the center and south of major projects».


Read more: http://dinarvets.com/forums/index.php?/topic/209139-economy-investment-pass-a-law-this-month/#ixzz3nayl6Yyu

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Parliamentary Economy: Investment Law required run rate of 70% of the Iraqi labor

07/10/2015

 
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(Independent) ... for the economic and investment commission in Parliament, said that "the amended Investment Law No. 13 of 2006 will give great facilities to investors, and is required to run 70% of the Iraqi labor in the projects."
 
He said committee member Burhan Almamori in a press statement, said that "the investment law is important and Iraq desperately need him as a passing circumstance Mali awkward and difficult and it is today that does not depend only on the financial budget on oil imports only, but work on maximizing state resources from other sources."
 
He added that "there are companies and ministries dependent on the work, particularly in the field of investment, so it must be approved this law in this period," referring to "the existence of a personal intervention prevented passed in the last sessions."
 
He explained Almamori "for the law of investment rate is unique for every country in the world in terms of facilities and encourage investment, and within which the granting of loans to investors and their right to international prosecution if there is a dispute in the execution of contracts, and those supporting them to work in Iraq and ensure their rights," he said. " This law of important laws have been adopted and take advantage of investment laws in neighboring countries and stress that he will meet the ambitious investors. "
He continued, "There are also limitations and conditions on investors run the Iraqi labor and be represented in the projects of more than 70%." 
He pointed to the Committee of Economy parliamentary member that "the law is an existing originally but there ill for application to the presence of obstacles and routine to the adoption of the single window and he should give facilities for investors because most of them left and the failure to invest in Iraq because of the deadly routine in state institutions, so our work to amend the investment law and found solutions, but the challenge remains the corruption. "
 
He added that "the investor and because of the security conditions and corruption experienced by Iraq that made him does not risk his money, but we put in law the right to international arbitration to resolve disputes to encourage the investor to ensure their rights, no more, and there is no fear in this aspect, and this does not affect Iraqi sovereignty, it is a conflict law solution is not teams, whether local or international courts. "
 
Almamori stressed that "investment is the only way to get Iraq out of this difficult economic situation, and this depends on properly and serious application of the law and the elimination of corruption that exists in all state institutions."
 
He pointed out that "after the law was passed in the House of Representatives, there will be a positive step in the field of investment in various infrastructure projects and achieve the quality of the investment boom, if the law were working properly."
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A member of the parliamentary: the Iraqi investment law amended gives great facilities for investors
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Image of Reuters - Arabian Eye

 

 

October 7, 2015 12:52

Direct: said proof Almamora- member of the economic and investment commission in Parliament, said that the investment law is important, but Iraq in desperate need for this law to pass by from a critical and difficult financial circumstances, and should not rely solely on the financial budget on oil imports alone, but work on maximizing resources State from other sources.

"The Almamori" that the amended Investment Law No. 13 of 2006 will give great facilities to investors, and is required to run 70% of employment in Iraqi projects.

The "Mamouri," according to - and the Iraqi News Agency Information "conscious" - that there are companies and ministries dependent on the work, particularly in the field of investment, so it must be the adoption of this law in this period and to the existence of a personal intervention prevented passed in the past sessions.

He explained, "Mamouri" that the amended law included the granting of loans to investors, and their right to international prosecution if there is a dispute in the execution of contracts, and those supporting them to work in Iraq and guarantee their rights.

He stressed, "Mamouri" that investment is the only way to rid Iraq of this difficult economic situation, and this depends on the seriousness and correctly apply the law, and the elimination of corruption that exists in all state institutions.

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 "the amended Investment Law No. 13 of 2006 will give great facilities to investors, and is required to run 70% of the Iraqi labor in the projects."

 

if i am reading this properly, this is GREAT news for increased value to the IQD.  apparently the law is being amended to force investment projects to employ 70% of their labor force with iraqis. this translates to the dinar gaining momentum from increased turnover through the labor force.  in other words as more and more iraqis are employed and paid in iqd which leads to spending in iqd, the iqd naturally grows in demand and use.  as long as inflationary practices are not used to force the value low, the iqd will naturally rise in worth.   

 

please review my take on understanding the iqd's value.  this article falls inline with my thinking.  

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Meeting a parliamentary presidential order to add new paragraphs to the investment law: vote soon
Economy and Tenders

 Since 08.10.2015 at 09:45 (GMT Baghdad)

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Special - scales News

Confirmed a member of the economic and investment commission parliamentary Najiba Najib, on Thursday, the committee will meet with the Presidency of the Council of Representatives and some parliamentary committees to discuss the possibility of adding some of the paragraphs of the investment law before passed this month, indicating that the law will address legislatively all the problems facing the investment in Iraq.

She said Najib's / scales News / "The entire investment law and surprised to postpone voting on it by the Presidency, which called for a joint meeting with the Finance Committee and some parliamentary committees to discuss and consider adding new paragraphs to the law," pointing out that "it is hoped that the vote on the law through this month, after deducting add those paragraphs or canceled. "

She said a member of the economic and investment commission in Parliament that "from the legislative point of view, the investment law treats every process facing the investment, which was the cause of the delay in investment in Iraq sector problems," indicating that "it is practically For investment bodies in Baghdad and other provinces that have seriousness in the implementation of the terms of the law. "

It is said that "the economic and investment commission in Parliament member Mohammed Abbas confirmed, earlier, that the political differences on the investment law will not affect the passage," pointing out that "the law will raise the performance of financial institutions and contributes to the management of Iraqi funds properly" .anthy 29 / 28

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Vice-President of the Iraqi parliament Hamoudi

 

Author: BS, MK 
Editor: BS, NS 2015/10/15 13:22 Number of Views: 98 

 

 

 

Long-Presse / Baghdad

He announced the first deputy speaker of parliament Humam Hamoudi, on Thursday, that the amendment of the Investment Law will be submitted to parliament next Monday in order to vote on it, as he emphasized that the financial economy and the committees of the Parliamentary arrived in the final version of the amendment.

Hamoudi said during a joint financial chaired a meeting of the Committees and the economy and invest in the House of Representatives, and attended (range Press), "The amendment of the Investment Law will be submitted to parliament next Monday in order to vote on it."

Hamoudi said, "This meeting is the last to reach the final version of the amendment of the Investment Law before it is submitted to a vote."

The Committee on the economy and investment parliamentary Ezzat, the Wednesday (September 16 2015), to postpone the vote on the amendment of the Investment Law to the presence of the desire of some of the proposals it added, indicating that it will meet with the rest of the House of Representatives to discuss ways to develop the law.

The parliament approved the 2006 Iraqi investment law, which it was said at the time that he "will open the doors wide the" to foreign investment, due to submit a lot of facilities to foreign investors, but that many foreign companies are still hesitant because of fears that the security situation is stable in Iraq, adding that the law did not give investors the right to ownership of the property the project, and equated the Iraqi and foreign investors in all the privileges, with the exception of real estate ownership, as it allows the foreign investor lease the land for 50 years, subject to renewal, according to paragraph 11 of the Investment Law.    


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The amended investment law, a move to strengthen the economy        

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10/19/2015 0:00 

Parliamentary weights to vote in today's session  
 BAGHDAD - Muhannad Abdul Wahab 
counting members of the parliamentary Economic Committee that the vote on the amendments to the investment law, and approval would be a positive step in favor of the country as an economic way to attract investment and employment and strengthen the national economy and building a solid foundation master structures that need by the country, and it underlines the House of Representatives that the aim of the bill is to address some of the constraints shown by the practice when applying the law during the last period.  
The Investment Law No. (13) of 2006 has been passed in the first electoral session of the House of Representatives.   extensive discussions and saw stages of completion Project Second Amendment Act of Investment Law No. 13 of 2006, several meetings were marked by sharply discussions that have put the task of perceptions in terms of building ideas that will be effective and in the interest of the country and thus open up investment in the country's process and deal with it on the basis of flexibility. A member of the Economic Committee Nora Albjara «The law passed several stages and extensive studies depending on the importance of the draft second amendment bill to the Investment Law No. 13 of 2006, in which the First Deputy Chairman of the House of Representatives Hamoudi in the meetings of the Committee hoped to vote on the draft second amendment law Investment Law No. (13) for the year 2006 in the House of Representatives session for next Monday. confirmed in a statement to «morning» that the House of Representatives completed the first and second of the second draft amendment to the Law Investment Law readings. She «to that (27) deputies raised a number of views and proposals and claims when discussing the draft second amendment bill to the Investment Law No. 13 of 2006, was most notably the proposal to establish a department for planning within the Investment Authority and the inclusion of public sector investment as this will lead to the privatization will affect the economic situation and the labor and the need to have the House of Representatives the right to control the Investment Authority and limiting the mandate of the head of the investment of time and one without the extension and the adoption of specific timing for the selection of officials in the Investment Authority in order to get away from the resort to the appointment by proxy. amend laws in turn between a member of the Committee Knight Knight that the Presidium of the House of Representatives held (3) meetings in the presence of the committees of the economy, investment and financial Alniabaten, and head of the investment and discussed at the meetings the second draft amendment to the law of investment and exited the new amendments to the investment law to reach the sober law that guarantees the rights of all and aims to promote and stimulate economic and human resources and the development of a practical mechanism for the development of investment in the country. He said in a statement «morning» that the Committee on Economy and Investment held its first international conference in order to contribute to the improvement and development of the investment environment in Iraq, in the presence of ministers as well as Arab and foreign investors, agents and ministries and heads of the national investment and Conference recommended overcoming the obstacles facing the application of the investment law. He pointed out that the Chairman of the Committee of Economy and investment Jawad al-Bolani between the second amendment to the draft second amendment to the Law of Investment Law No. (13) of 2006 included five paragraphs President concerning «the developer and arbitration, financing and the development bank to support the investor and the establishment of the Iraqi investors Union» hosted the specialists for its part, he indicated a member of the Economic Committee Najiba Najib to that the economic and investment commission has made ​​(4) hosted the was the first with the head of the National Investment Commission Sami al-Araji, to discuss the text of the Second Amendment to the Iraqi investment law, stressing that the Commission has introduced a series of radical law changes, which will be an important factor in the creation of excellent investment environment and meet the aspiration of all parties. She drew Najib in a statement to «morning» that the summary Alastdavat was agreement on texts that will increase the size of the powers of the Iraqi ministries to invest its resources in the investment side, as well as to include the draft law some mechanisms applied for the first time, including arbitration and the Union of investors and an end to the problem of ownership of land and roads awarded Investment.    She said «that the economic and investment commission expanded seminar held within the seminars held by on the draft second amendment to the law of the Iraqi Investment Law No. series (13) of 2006, in the presence of investment circles managers in the Ministries of Agriculture, Defense, Construction and Housing, oil and devoted the seminar to discuss the issue of government land for projects allocation investment and the most important obstacles facing converted into land for investment, procedures and laws that stand in the way of turning them into investment land as the symposium discussed the material and legal paragraphs that hinder and prevent the government land allocated to investment. completion of the Iraqi economy for his part said a researcher in political affairs and economic Rahim al-Shammari « that step vote on the draft amendment of the Investment Law completion of the Iraqi economy, came the time that passes by Iraq and the Middle East, economic and security crisis requires activation of agricultural and urban industrial sectors, which need to simplify regulatory procedures and laws. He Shammari in a statement to «the morning» an urgent need to amend the paragraphs of the current materials and the Investment Law No. 13 of 2006 and members of the economy and investment are involved in this way as an economic way to attract investment and operation of labor and strengthen the economy and build a solid foundation structures that are basic to the country needs.  

 

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Our economy / Baghdad

Economic Commission representative confirmed that the vote on the amendments to the investment law, and approval would be a positive step in favor of the country as an economic way to attract investment and employment and strengthen the national economy and building a solid foundation master structures that the country needs, and underlines the House of Representatives that the aim of the bill is to address some obstacles shown by the practice when applying the law during the last period.

A member of the Economic Committee Nora Albjara said in a statement seen by the agency of our economy news that the law passed several stages and extensive studies depending on the importance of the draft second amendment bill to the Investment Law No. 13 of 2006, in which the First Deputy Chairman of the House of Representatives Hamoudi in the meetings of the Committee expressed hope to vote on the draft second amendment bill to the Investment Law No. 13 of 2006 in the House of Representatives session for next Monday. 
Albjara confirmed that the House has completed the first and second of the second draft amendment to the Law Investment Law readings. 
The Investment Law No. (13) for the year 2006 It was approved in the first electoral session of the House of Representatives.

 

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Our economy / Baghdad


MP for the mass of the citizen and member of the Finance Committee Faleh force that the main difference in the draft investment law is to add the theme of "developer" and that his role larger and wider than the main investor, a new paragraph was added to the law.


A press statement applicable to the Agency "our economy" we have suggested that the news be "developer" outside the basic design of the project and possible to take advantage of its capabilities beyond the basic design of the project.


He added that the project board holds state financial consequences of being a problem, according to the Commission on the economy of the eleven members and those Asthsalon on Mcavaouat and salaries ",


We explaining sought to keep them from their number but without giving them financial Mcavaouat ".


He said in effect that the foreign investor and also Matrouh receiving the law on banking facilities, a bone of contention and controversy and we raised that have been done of the project rate of 25 percent until the grant of these facilities. "


And he told the foreign investor that up to 40 percent the proportion of the establishment of the project until the announcement has the right to sell what has been accomplished from legitimate citizens. "


The draft investment law gives the right for the government to withdraw the project from the investor after a period of six Achehrolm up to a ratio of 40 percent and above and the imposition of fines and legal consequences in case the company fails to complete the project. "





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10/21/2015 11:35 GMT

  Deputy: the importance of the investment law lies in its implementation mechanism
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 Baghdad and babysit -said the parliamentary finance committee member Abdul Qader Mohammed, the Iraqi investment law is of great importance and usefulness of the law but its implementation mechanism most important.

 

Mohammed said in a statement to the news agency public opinion (and babysit), on Wednesday, he explained that "the Iraqi investment law is important and needs to the mechanism of implementation of seriousness, pointing out that the force of this law need to provide people experienced owners who are looking for a country service experience," noting that " the implementation of this law properly going to happen a qualitative leap in the income of Iraq, "Mohammed .ofatt that" the investment law will not only be limited to oil, but will include all investment areas "g / h

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Planning is discussing with the project to launch the implementation of investment projects program through an electronic system thread

October 21, 2015

 

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Our economy / Baghdad

Said Planning Minister Salman Jumaili that the ministry is working escalating pace to complete the project follow up the implementation of investment projects in all parts of Iraq through a very sophisticated electronic program in cooperation with the Project of the US Agency for Development thread

He Jumaili in a statement MEMRI press office and received by the agency of our economy news a copy of it during a meeting with the President of the project stationed in Iraq Nael Shabaro and his accompanying delegation in the presence of the US ambassador in Baghdad Stephen Jones .. This project represents an important and essential core of e-government in Iraq because it will enable the ministries and provinces of Follow-up projects on site and see accomplished and changes therein through the electronic system which will be available via the Internet by logging on to him ratios using a secret code and be the management of the program by the Ministry of Planning .. noting that the Iraqi government is dealing with great interest with this program because it will help them in achieving high transparency and thus fight corruption and reduce it.

For his part, legislator Director Nael Shabaro that thread follow-up investment projects system through advanced electronic system called (IDMS) is the first of its kind in Iraq was working on prepared and done in close cooperation with the Ministry of Planning, which cooperated significant support for this project which will help the Iraqi state with all its institutions to pursue their investment projects.

So the US ambassador in Iraq Stephen Jones stressed that the follow-up project investment projects across the electronic systems is the addition   of new cooperation between Iraq and the United States and reflects the positive performance of the Iraqi Ministry of Planning, which recently achieved a lot of important steps, including the opening of your help desk implementation of government contracting impression .. hoping to see development in Iraq further development in all fields.


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GM Master Yota and all of DV.

I am beginning to think that this electronic payment system is kind of like Iraq's version of fractional banking.

If that were the case, then that suggest to me a reinstatement of the Iraqi dinar to pre Saddam Hussein era.

Something of that nature would be,"VOODOO ECONOMICS".

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Parliamentary Economic: Ready for the investment law and the vote will bring a boom in the Iraqi economy
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House of Representatives member of a coalition of law Jawad al-Bolani 
 
 10/25/2015 14:46

 

 Number of Views: 264

 

 

Tomorrow Press / Baghdad, said Chairman of the Committee of Economy and Investment parliamentary Jawad al-Bolani, on Sunday, the completion of the project investment and all the notes law around him in the relevant committees, adding that he only voted on for approval did not remain, they returned that the law will achieve an important breakthrough in the Iraqi economy. He said Bolani's "Tomorrow's Press," that "the 17 rule of law materials, have been voted on five articles of them, and remained 12 article," explaining that "observations between the economic, financial and legal committees have been completed." promised Bolani that "the essence and content of the law to achieve an important breakthrough and better conditions real investor, and it prohibits brokers and speculators in investment projects from access to this work, "pointing out that" the project is to support the single window, and the development of public policies through the boards of those sectoral financial management, private sector strong, and focused on the developmental side in the investment sector in the field of agriculture and the industry. "said Bolani that" international arbitration within a very important investment to put part of the settlement of disputes to the investor when it gets an investment license from the National Commission, which is the choice in the selection to resolve disputes between him and the body ", stressing that" the caliber enters the international standard in this area, and especially the international arbitration centers take into account the legislation and laws to be opportunities for the country to attract foreign capital. "He added that" the law obliged all investors completion of 25% of the project to benefit from the loans granted by the banks within its laws. "

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