The World Bank: Iraq in the world ranked 174 among 183 countries on the business (story includes a rate)

[k98nights]

The World Bank: Iraq in the world ranked 174 among 183 countries on the business

On Monday, 08-08-2011 03: 14 PM

Us magazine: to obtain a licence business in Iraq requires 77 days and more than two million dinars

Beirut-khalil war

Magazine “ summed up the Atlantic ” US the complexities of investment procedures in Iraq, indicating that access to the business in Iraq requires 77 days and more than two million dinars, the magazine considered that Iraq, which were at the centre of trade in the history, witnessed a deterioration in economic terms as a result of the US-led invasion.

In the cool, the magazine said US “ if you are planning to do business in Iraq, we hereby advise you to buy a book. لتولستوي Or Proust or Oxford Dictionary English ”.

The magazine quoted the World Bank guidance on how to set up a company in Iraq. “ Needed first to explaining to move in two days to identify the name that you want and if the name was recorded in the past, and a speech to the Chamber of Commerce in Baghdad at a cost of 350 dinars (300 dollars), and about 900 dinars (770 dollars), in order to assign a lawyer. Two additional two days to open an account in the commercial bank of 5 dinars (4 dollars)

She added that the announcement of the special your company in a local newspaper would cost 80 dinars (70 dollars), وسيبقيك three more days in Iraq, and beyond, will need another two days to 20 dinars (17 dollars) for a special stamp of the company, and then one more day to get a registration from the Commercial Registration.

However, the magazine indicated that measures do not end here, and a series of other steps needed, including with regard to the tax and registration of Social Security.

All in all, the World Bank indicated that the process of obtaining a license business in Iraq, requiring 77 days and more than two million dinars (about two thousand dollars), and that is why the World Bank include Iraq in the world ranked 174 among a list of 183 countries on the business.

The magazine clarified that “ for comparison, this process requires in the United States, which ranks seventh in the world, six days and about 675 dollars, in addition, in the United States will get a secure environment for electricity and clean water and the roads ”.

After eight years in the invasion of Iraq, said the US magazine that “ one of the things that we've heard a lot did not materialize, that operation Iraqi freedom would free markets and people from Saddam Hussein's regime, a note what he had said the former US president George Bush, in a speech in the city of Cincinnati, the US October 2002, where he vowed to say that “ the Iraqi people if freed from oppression, will be able to join us on the progress and well-being. And rebuild their economy and institutions of freedom in a unified Iraq living peacefully with its neighbors ”.

However, the magazine said that “ freedom which has carried out are those associated with the free flow of oil, which was supposed to be the revenues to the Iraqis ”, adding that “ things are not as we expected, and we believe, after hesitation, that our country has made a catastrophic mistake ”, indicating at the same time that “ the situation is not all bad ”.

However, the US magazine said that “ Iraq is not enjoying free economies, where was still difficult the establishment of a project of a new, administered by ”.

That “ felt the Americans could not refrain from raised the following question themselves: Are we caused it?, adding that the answer, for the inconvenience, we may be we caused in part, and that the most disturbing is how we caused so ”.

That “ said the biggest problem with regard to the Iraqi business environment is that it is not related to the ongoing violence, in accordance with certain Tamo Moura O'Brien, in the specialist in Iraq “ the international private ”.

The magazine quoted US researcher as saying that “ security fundamentally changed dramatically over the last couple of years, and you can see that this impression the local business community. The only issue is no longer ”.

She added that “ may be that freedom and democracy themselves, are those who تتسببان many acute problems in the economy .... That values, not اخطاؤنا, might be what harms the Iraqi ”. That said ” iraq witnessed the birth of the first major commercial centres, where that Ninawa, and Babylon, Ur, had served as New York and Tokyo and London in days of history, and that it was important to the extent that it left its impact on the Bible writers ”, pointing out that “ during the era of the Abbasids, Baghdad was the status of the trade, which extended from the Indian Ocean to the Mediterranean Sea ”.

She pointed out that “ sometimes mistake when it is the best job in the country, what are the functions of the government ”, adding that he “ even in socialist democracy and to Swedish, they needed to private sector transparent, and Iraqis in particular, need to be anything to reduce their dependence on oil prices to remain high ”.

She also pointed out that “ the majority of Iraqi factories owned by the state and the government is trying to sell them serious, but they face difficulty in even the basic capacity cement industry, which is good for the building infrastructure for the oil sector suffering ”.

After talking about the weakness of the banking sector in Iraq, she pointed out that in another context, “ of the labour force in Iraq, the most educated in the region, and adequate water for agricultural development, comprehensive and a lot of oil ”, adding that ” ديموقراطيته, even if it was not complete, but it is still a positive thing, it offers the possibility of political accountability on the part of the ”.

http://www.almowatennews.com/news_view_24626.html

[Biker55]

It also tells the rate:

900 Dinars(770 Dollars) = .85555 Rate is $.86

GOOD FIND

GO RVVVVVVV

[k98nights]

It also tells the rate:

900 Dinars(770 Dollars) = .85555 Rate is $.86

GOOD FIND

GO RVVVVVVV

Thanks Biker55!

[mrref]

MAYBE JUST MAYBE WE ARE HEADING IN THE RIGHT DIRECTION

[canada29]

Wow! Great find! Lets hope its true! GO RV!

[k98nights]

$17.00 divided by 20 dinars = 0.85 looks like about eighty five cents per dinar to start with. I can live with that.

Me too!

[cool guy]

Wow! Great find! Lets hope its true! GO RV!

I believe its not properly translated ?/

when you try to translate this article in google it says like this "350 thousand dinars (300 dollars), then about 900 thousand dinars (770 dollars)"

So nothing exciting in this info??

[Butifldrm]

Whoohoo! Great find k98nights. I'll take .85 cent in a New York minute.

[SunFun]

Please read the article, it dorsn't say 350 dinar, it says 350 thousand. If you are going to post an article do it honest and right.

[Adam Montana]

I will take it and RUN! Anyone holding out for more is a fool, my apologies to the $3.88 gang!

Good post

[pluMmet]

original article

http://www.theatlantic.com/magazine/archive/2011/03/when-freedom-is-bad-for-business/8373/

[easyrider]

I will take it and RUN! Anyone holding out for more is a fool, my apologies to the $3.88 gang!

Good post

No disrespect Adam but why would we be fools? if it comes out at .85 cents im only cashing in a minmal of what I need to for bills and stuff. We all know its gonna go up if we dont get a cash in window i am holding out for sure that would be the smart thing to do but to eaches own i suppose. They have major potential for the dinar to reach 4-5 dollars in the near future not saying i will hold that long possibly hold out to 2-3 bucks.

You are way to conservative man!!! be a risk taker Adam come on!! you can do it.

Edited August 9, 2011 by easyrider

[richwithdinar]

That is not an arabic document, that is a document from the world bank. Why is it that everybody seems to have a negative attitude? If everybody got positive, instead of raining on everybody's parade, good things could happen.

I dont think he was being negative. He was stating a fact. The article (when translated by google) does say 300 thousand dinars. Not 300 as originally quoted.

[ngodstust2]

Adam,

kind of early for you isnt it?

[easyrider]

Please read the article, it dorsn't say 350 dinar, it says 350 thousand. If you are going to post an article do it honest and right.

you are correct that is what it says

this is from the original article.

You will need a couple more days to deposit 5,000 dinars ($4.30) in a commercial bank and obtain a confirming receipt, and up to two weeks and another 350,000 dinars ($300) to file for registration at the Commercial Registry. Advertising your incorporation notice in the local paper will set you back 80,000 dinars ($70), and you will lose another three days. Following that, you will expend two days and 20,000 dinars ($17) to make a company seal, but take heart—only one more day is needed to obtain your registration certificate from the Commercial Registry, which includes it absolutely free in the price of your registration filing.

Edited August 9, 2011 by easyrider

[k98nights]

Sorry about the translation difference folks... I didn't use Google to translate the article.

[rcrge]

Oh well, another mistranslation. It's the same old sad story over and over again. I am heading off fishing.

hell i might as well open a cold one it has to be 4:30 somewhere

[Adam Montana]

Ok, let me restate my earlier comment: I think .86 would be a great rate and if the market was even slightly unstable, I would cash out in a heartbeat! If there's a good chance we can hold until the rate goes up to $2-3, of COURSE I will hold.

But I'd happily skip and flip and cartwheel to the bank at .86!!!!

In my personal opinion, we are going to see it hit at around 12 cents. So again in my personal opinion - .86 will be big big big and there's no way I will complain.

Adam,

kind of early for you isnt it?

Early? I was just about to go to bed!

[dogtrainer55]

so my math is bad, what's the rate using the math they are using? 350k for 300 us $??? Does it match the current rate?

[fogarty]

Outstanding !!

[easyrider]

Ok, let me restate my earlier comment: I think .86 would be a great rate and if the market was even slightly unstable, I would cash out in a heartbeat! If there's a good chance we can hold until the rate goes up to $2-3, of COURSE I will hold.

But I'd happily skip and flip and cartwheel to the bank at .86!!!!

In my personal opinion, we are going to see it hit at around 12 cents. So again in my personal opinion - .86 will be big big big and there's no way I will complain.

Early? I was just about to go to bed!

Adam one of our members just posted this to me it seems they will come out at .86 cents.

Iraq plans to redenominate its dinar currency by knocking three zeros off the nominal value of bank notes to simplify financial transactions, a senior central bank official said yesterday.

Edited August 9, 2011 by easyrider

[Rossenbos]

As this was a mis-translation and therefor not the profound rate-bringing article we all thought, can we close this topic.

Irrelevant now. Waste of space?

[easyrider]

As this was a mis-translation and therefor not the profound rate-bringing article we all thought, can we close this topic.

Irrelevant now. Waste of space?

its actually not yes it has been mistranslated but another article is saying they plan to knock the three zeroes off the nominal value that would make it .86 cents.

[Adam Montana]

There are two kinds of articles that come out of Iraq:

1. "We plan to delete the 0's"

2. "We plan to raise the value of the Dinar"

The two types of stories are contradictory to a point - deleting the 0's is a no-gain operation. Raising the value could mean a little or a lot of gain.

Personally, I think they plan on making some money by playing with the exchange rate.

The questions are:

1. When?

2. How much?

.... and so, we wait.

P.S. YEAH I KNOW there are more articles that come from Iraq than those two subjects!!!! Cut me a break please

[easyrider]

There are two kinds of articles that come out of Iraq:

1. "We plan to delete the 0's"

2. "We plan to raise the value of the Dinar"

The two types of stories are contradictory to a point - deleting the 0's is a no-gain operation. Raising the value could mean a little or a lot of gain.

Personally, I think they plan on making some money by playing with the exchange rate.

The questions are:

1. When?

2. How much?

.... and so, we wait.

P.S. YEAH I KNOW there are more articles that come from Iraq than those two subjects!!!! Cut me a break please

yea true Adam there are so many contradicting articles about the zeroes its insane. I also read an article last week saying they woud fix the exchange rate according to their budget I mean who knows whats gonna happen.

My head hurts its too damn early lol.

Edited August 9, 2011 by easyrider