[millionday] ok here we go   this is very very important as it is the entry of iraq to the arab banking in a new way that is able to be done due to their release the effects are told here so lets read this together

[millionday] Met with Iraq’s participation the first after a hiatus of more than two decades in the Arab Banking Summit, which was held in Vienna recently welcomed internationally wide, and it was the arguments of Iraq’s great resonance among the participants in the summit, where he was raising the issue of good governance in light of economic and financial developments rapidly taking place the world.

Secretary General of the Union of Arab Banks and Sam Hassan Fattouh said in his speech at the conference: that Iraq’s contribution to the summit has achieved the goals and aspirations that we all aspire to elevate the Arab banking sector.

Read More Link On Right

  And we found in the research presented by the banking expert, Dr. Sadik Rashid Al Shammari treatments for the fundamental problems affecting the Arab banking sector in light of the developments taking place in the world economically and financially.

millionday] He added that the summit focused on the role of the Arab banking sector in building civil capacity and meet the challenges phase of post-conflict, also stood top at a detailed prospects for partnership between the public and private sectors to restore balance to the economy in the post-conflict and that explained the importance of building institutions capable of crisis management and move to Economic growth phase effective. In an interview the morning with economic d.

Sadiq Rashid Al Shammari after returning from the summit within the Iraqi delegation to the summit said: that of the summit witnessed the first Iraqi bank search for more than 20 years and received the attention of all the participants who discussed the mechanics of governance of banks in restoring balance to the Arab economies.

[millionday] He Shammari said: that the research has focused on the importance of the work of banks and financial institutions in order to restore the economic balance of economic sectors, and that governance is more necessary than to be an obligation imposed by regulators as a fantasy strategic her.,

And pointed out that governance without activating the principles and standards do not mean anything It thus becomes effort well spent where it should comply with standards of international banking, including capital adequacy standards and financial disclosure and transparency, the financial statements of banks and a strategic plan for the development of the technology used in the banking system,

according to the capabilities available and linking banks and the restructuring of the banking sector and improve mechanisms for internal and external oversight and methods of accounting in order to contribute to the development control methods and the promotion of transparency and disclosure.

millionday] note — in other words — all the paper plans in the world mean nothing without the activation of finance and economics   – he means stop with the planning and lets go already and make it count

[CaliDreamers] oh yea~~~~~~~~~~~~~~~~

[Sager] boom!

[millionday] He said the infrastructure development of the banking sector based on special programs for the training and development of senior leadership where in relation to Palmmazjh and linking the concept of governance and mechanisms through the establishment of training courses and development vehicle to raise awareness of accountants to the basic concepts of governance, managers and members of the Board of Directors in the capacity building of civil able to meet the challenges of post-conflict .

Here we must emphasize the importance of orientation strategic to the members of the Board of Directors and executive departments they have the right to formulate and success of the strategy the bank and its activation by moving away from the formal system aggravated bureaucracy at work and give the flexibility appropriate according to the method of work and thus contributing to the development of work and outstanding performance and meet the challenges in the environment external and internal.

millionday] in other words we need to move to action and answers ect and the application of the strategic plans and training and see it is action

[millionday] it also is very important for follow up for the training done so the accountants and other economic members have the correct answers according to the new system

[millionday] He stressed Shammari the importance of the use of quantitative methods and programs to learn how to use sources of banks and where lies the weaknesses and strengths to facilitate the investment of resources as required and through the use of technology and focus on training to develop the skills of workers in banks, so as to enhance civilian capacity in building the economies of advanced, as well as work on investing in profitable projects and short-range and long guarantees for banks liquidity necessary for the functioning actively work through the cash flow for these projects.

And that because of the rapid developments in the field of the banks it should study and continuous follow-up of international organizations and local and regional Basel Committee commitment Bmaaber and governance mechanisms issued by banks such organizations as an important step in regulating the banks and financial institutions.

[millionday] obviously he is referring to making sure they remain compliant with all international banking regulations since they have activated their banking reform and will also be activating much more of the services as this unfolds

[millionday] He Shammari need to growing interest in some financial indicators in order to not lose the confidence of the customer some private banks and try to go about existing resources have including investment cash is located has projects in low-risk and high short-term in order to be a role high revenue from these projects in order to fulfill its obligations to depositors .

[millionday] this next part is about the future of their advancements in banking and economy

[millionday] title >>>>>>>>>>>>>>>. The future of the international economy

[millionday] He stressed the importance of encouraging banks to offer new products and foreign currency using currency deposits mentioned available to them through the development of a future plan to achieve the merger between private sector banks to set up banking units large size can build advanced capabilities of the banking business domestically and internationally,

 through the adoption of a plan intensive to develop the performance of employees and members of the Board of Directors of the Bank through courses organized by the training centers depending on local expertise and the use of lecturers from abroad to keep abreast with what is happening in the world of economic developments and the serious financial and fast has profoundly affected the economies of many as I explained it casts a deep concern for the future the international economy in general,

and particularly the Arab economy after the global economy turned into a small village rival parties due to technical developments and informatics.

[millionday] note — obviously they are very concerned with joining the international community in the economic condition it is in and are referring to making sure that their economy expands and is not ruined or negatively effected by the condition

[millionday] last part of speech >>>>>>>>>>>>

[millionday] He concluded Shammari his speech by saying Based on the foregoing, the developments and changes and reflections on globalization effects and wide on the banking sector in the countries of the world, including the Arab countries,

especially regarding trends growing towards deregulation and the removal of obstacles legislative and regulatory prevent the expansion of these institutions in various activities especially in the global framework of the Convention on Trade in Services, which imposed a number of obligations on States in this regard.

millionday] so what this boils down to is that they are ready for its combination in the banking world and are learning and training to remain in the great condition they are in with all of their fresh training and also their huge training workshops buildings and international help —

millionday] they are expected to be a huge gain for the arab world economically and also are expected to make huge gains in the world entirely economically —

[millionday] iraq is referred to in many circles as the save all — so we shall see — obviously they missed the economic plunge so they have a chance of being just that and trust me many leaders are hoping for just that and have given much of their time — not so much for the new friend but the new opportunity

[millionday] smile   brb with more

[faith1] come on…”and the promotion of transparency and disclosure.” Disclosure,, come on out with it !! Whoo Hoo !!

[millionday] smile —    we know this is coming and very soon as we saw by the figures that we read last night concerning the cost of the activation and also the point of no return they are now in for their customs ect due to the incoming  [millionday] and outgoing as far as that goes

[millionday] Specialist called for the need to update teaching methods and tactics and the introduction of a new department or section in each institution called the building department mission to keep employees abreast on the latest management techniques in the world.

 He said legal expert Adil al-Lami “morning” should also activate the e-government project as well as project heal between universities, research centers and between institutions of the state, each according to its competence, pointing out that the legislative reform, especially the laws and economic legislation because it is the basis for progress and well-being of the Iraqi society.

[millionday] He stressed the need to examine ways in how to build Iraq on the basis of correct and which emphasize bring life to the private sector through a series of legislation that must be applied in practice on the ground as well as the need to implement the tariff law for the protection of national production and the need to follow the economic model and clearly would bring Iraqi economy Ahadath of rentier consumer stereotypes and private sector development.

[millionday] the legislation needs to be activated not formed or dreamed up or written ect — it needs to be activated and moved forward in schools — training and its form of reason    brb with more

[millionday] this is a huge step for iraq and is expected right now so this is great — also saleh speaking is not bad either — where has he been

[millionday] The presence of a credit rating of any country in the world better than the non-existence because it gives the degree adopted by the countries of the world to assess the country’s economy for the purpose of investment and economic activities and other business.

And saw the financial and banking expert d. The appearance of Mohammed Saleh, it is possible a credit rating of the country through bonds sold in global markets because the presence of credit rating, though low, is better than no rating mainly because there is no rating confirms that the country is a threat to all countries in the world.

And is rated the world’s credit ladder classification consists of 4 grades are A, B, C and D as well as variables that represent signal + or – and Petkrarat different. Saleh said in a statement to the (morning) that he must begin Iraq is now negotiating for the purpose Ranked credit.

[millionday] note — of course with it being stalled for so long we would expect low so no worries

[millionday] And launched the first round of the Conference of Finance and Commerce in June of last year, the presence of the representative of the U.S. Department of Commerce Cameron F. Kerry, in addition to economic circles in Iraq,

 it was agreed during which Iraq to encourage investors to come to Iraq and classification of credit to be able to give credit for foreign investors, as well as importance of Iraq that goes on in this category in order to give guarantees in investment opportunities and confidence to recover their capital.

IThe Fitch or Fitch classifies countries credit is an international institution recognized worldwide and is a subsidiary wholly owned by Hearst, which has in April 2012 to increase its stake in Fitch Group to 50 percent, which is one of three companies rated a major addition to Standard & Poor’s and Moody’s, the company has been founded by John Knowles Fitch in late 1913 in New York City as the Fitch Publishing, merged with IBCA Co., Ltd. is based in London in December 1997.

PART 2 CONTINUED

I’d like to break down an article for you all. Here is the title and link :

New proposals for the adoption of the law infrastructure    LINK

I’ll just bring in some of the quotes for reference. Help keep your eye strain at a minimum lol

“hoped to pass the law of infrastructure during future periods of the life of Parliament, especially after a number of amendments to the paragraphs, which ensured review of contracts to be performed by the four companies, global consulting specialist, tend not to any other party certain political , as well as emphasis on non-mortgage Altherutin oil and gas for the implementation of projects, being the property of the people. “

They are being advised by four companies that DO NOT have political connections.

Read More Link On Right

  Quite obvious to me that the HCL Law (non-mortage being non-implementation)  is necessary to the success of the Infrastructure Law as stated above. When we see the HCL finalized we will see the Infrastructure law as well. They go hand in hand imo

“The Commission services and reconstruction parliamentary been revealed earlier in the words of its member for the rule of law, Ihsan al-Awadi, that the law of the infrastructure will shorten 5 7 years of work life of Iraq in the year one”

Contracts that took 5 to 7 years previously will be shortened to one year due to the reduction in red tape associated with the contracts. It will also ensure full compliance by contractors as they will held accountable within the legal framework of this law. The contracts will be fulfilled in a timely, predetermined time frame thus shortening the time to complete them.

“were included amendments that start with calculations of the Committee and of the political blocs to the law and well tuned, expected that in the case took political blocs such modifications it is possible to vote and passed in the times to come”

They have had meetings and gathered all the necessary requirements from each bloc, compiled the information and made the modifications and it is now ready to be presented to Parliament for the vote however, as I said above the HCL is tied to this as well as the terms of Article 140 of the Constitution ” oil and gas for the implementation of projects, being the property of the people”

“showed Tamimi most amendments to the law, pointing out that the review of contracts by four international companies, international not have any bias toward any political party in order to diagnose bugs in contracts if any”

They have four international companies helping them formulate this law . These companies have NO political affiliation thereby ensuring ” a fairness” within the law, making all future contracts whether it’s a mom and pop business or a multi – billion dollar company equal on the playing field.

“the most prominent paragraphs that were added to the law, new look, as well as emphasis on not compromising Baltherutin oil and gas and do not let Brhenhma for the implementation of projects,”

You bet your sweet a**   they will NOT compromise the oil and gas law or any contracts associated with it. This countries whole foundation is oil ! Think about it, if these contracts aren’t right the first time it will be disastrous and cost Iraq in the long run ! Remember they have to build refineries etc.. big money contracts ! Get it right the first time and that includes this law !

 
“alluded to the existence of fear parliament on the issue of payment on credit that permeates the law infrastructure pretext that the country will then be heavily indebted, stressing that a country like Iraq can not be the case because of its oil wealth and large metal which is still buried in the ground”

The fears of some of the Ministers is unfounded because Iraq has it all OIL , GOLD ( large metal which is still buried in the ground) and untold MINERALS,  the will not fail IF this is done right !

“noting that the objection coalition of Kurdish blocs on the law of the infrastructure was in principle for non-allocation accounted for 17 percent of the funds and projects in this law for the Kurdistan region”

Again HCL and Article 140 !

 
“in addition to foreign companies, which will examine the contracts and the implementation of projects are not the same that work at home there can be no room for corruption”

Outside mediation will curb 99 % of the corruption, taking the governments hands out of the pot so to speak !

 
“unlikely to be voted on this law during the current parliamentary session”

This is not unexpected now that we are seeing the correlation between the laws. When we see the HCL and full implementation of Article 140 we will see this Infrastructure Law as well… and then things will be just right.

The CBI should feel warm and fuzzy and quite comfortable doing what needs to be done, just sayin…. please remember that I was just giving my opinion based on what I have been taught and common sense plays in here too (winks) it has everything to do with MONEY period !!

Parliament is back on Thursday the 18th of July and we could see all this come to pass ! So be encouraged

7. 16. 13
Point is to reduce dollarization, raise value of banknote

Called deputies Economic Commission, yesterday, to accelerate the implementation of the project “reset” the process of local مبينين that current currency “not worthy” status of Iraq’s economic and investment in it, while the view of an expert that would require security situation and a stable political and banking system accurate and honest, confirmed last that moment, “more appropriate” than it was before the deletion of zeros from the currency.
Abtan: the country does not suffer from the crisis money and says a member of the Economic Commission representative, Abdul-Hussein Abtan, in an interview to (range Press), “The Iraqi economy has become today in advanced position and good because supplier of oil big, which reached nearly three million barrels per day, “and suggests that” the Iraqi Central Bank recently announced that reserves reached $ 76 billion, a very significant amount. “
adds Abtan, that “in spite of all that does not still Iraqi suffering from a lack of precision in the management of the economic file as well as the lack of coordination between the pillars. ” It was the Iraqi Central Bank announced, in the (third from July 2013 now), that Iraq is “in control of the funds and treasury of gold” in international banks, one of the acting out , denying the existence of frozen funds “outside the control of the Iraqi administration,”
While revealed that the reserve bank amounted to $ 76 billion in May last year, counting that out of Chapter VII would give Iraq “more freedom” to act and attract foreign investment. calls for a member of the Economic Commission representative, to the need for “multiple revenue estimated reflected on the economy and not on the availability of cash reserves large,” and continues that this “evolution in oil production and reserves, the central bank must be reflected on the lives of the citizens, because the country still has a large proportion of the poor and low-income and high unemployment, crisis housing and the deterioration of agricultural and industrial sectors. “
and sees Abtan, that “Iraq does not suffer from the crisis of funds but from how to manage money, causing paralysis of the Iraqi economy,” and calls for “Bank of Iraq the central need to take quick steps to delete the zeros from the national currency. ”
and is a member of the Economic Commission Parliament, that “the reserve that exists in Iraq and put the current economic is not commensurate with the size of the local currency and value that contains the number of zeros, and the current currency does not befit the status of Iraq and strengthen the economy. ”
Daini: out of Chapter VII made ​​it necessary to delete the zeros For its part, says a member of the Economic Commission representative, Nahed al-Daini, in an interview to (range Press), said that “the deletion of zeros from the currency became a reality, especially after the withdrawal of Iraq from Chapter VII of the Charter of the United Nations. ”
And remember Daini, that “the Economic Committee of the Council of Ministers were wary in the past of the deletion of zeros from the currency of many considerations, “and turned out to be” out of Chapter VII made ​​it necessary to delete the zeros to be of the Iraqi dinar absolutely privacy. “
and calls for a member of the Economic Commission parliamentary political forces and stakeholders “Leave excuse the wrong time, which taken as a pretext to stop a lot of decisions which, if applied to have contributed to the recovery of the Iraqi economy significantly, “and stresses the need to” adjust the border crossing points and the adoption of the law of customs tariff and reset the currency and the implementation of the Consumer Protection Act for the advancement of economic reality. “
Najib: The project requires a real will to that says member Finance Committee parliamentary Najiba Najib, in an interview to (range Press), “The Commission did not discuss with the Iraqi Central Bank Multi deletion of zeros from the local currency after assuming Abdel Basset Turkish presidency,” and explains that “the Finance Committee parliamentary pending claim CBI to discuss with him in this matter. “
And remember Najib that “the governing body of the former Central Bank presented a study on the preparation for the project to delete the zeros,” and believes that “this study were professional, scientific and included companies that have been agreed with the implementation of the project. ”
stresses a member of the Finance Committee representative, that “Iraq needs some salt is the deletion of zeros from its currency because the size of the money supply traded very large”, showing that there is a “four categories of the Iraqi currency is currently thousand and five thousand and ten thousand and 25 thousand dinars, while becoming the category of 250 dinars worthless almost even thousand dinars on its way to losing its value. “
and follow Najib that there is “an urgent need because we have a currency suitable for the size of the funds and investments entering Iraq,” and draws out that “the implementation of this project needs to be a real will and solidarity between the legislative and executive branches and develop a plan sober to make it a success. ”
adds “The process needs to educate the media and make the currency switch currency over two years and not to restrict banks certain and to be a broad base of banks Iraq in all provinces. ”
Expert: require security situation and a stable political Meanwhile, says economist as Antoine, in an interview to (Long Press), said that “you want to delete the zeros is the restructuring of the currency and reduce the use of decimal numbers in the accounts of the process, which has become a danger,” and shows that “The other thing is to reduce the fraud that occur in the existing currency, which depreciated significantly and need to process Switch. “
and see Antoine, “The other point is the reduction of dollarization because when you delete the zeros will raise the value of the banknote, not currency because the latter means and not an objective,” and continues that “it reduces the dollarization in business dealings Instead of using billions of leaves from the local currency Stenzel These millions and instead of transferring currency bags of wheat (Alkouan) will carry bags. ” and narrows the “time to change the currency was appropriate in the year 2012 the past, but now it is not appropriate. ”
specialist: currently more appropriate contrast sees Head of Economic Studies at the Center for Mustansiriya for Arabic Studies and International Dr Abdul Rahman al-Mashhadani, that “the time whether the appropriate two years ago to delete the zeros from the currency it is today becoming more solvency to complete it. ”
says al-Mashhadani, in an interview to (range Press), “The process of deleting the zeros was supposed to expire Two years ago, because the issue is purely economic, “and shows that” the dinar, which was torn and steals a loss to the government and citizen. ” He continues, head of economic studies, that “denominations now need to transfer large banks need to protect and place great,” and goes on to “the Iraqi currency needs to change because, according to the international standards should be changed categories currently in circulation and that the Central Bank shall issue new categories. “
It was the Economic Committee in the House of Representatives, called for in (the sixth of July 2013 now), the central bank to “speed up” the process of deletion of zeros from the Iraqi currency In order to maintain them, and confirmed that it is not in the interest of Iraq, the survival of its currency with so much and irregularly, as pointed out that the deletion process will increase the value of the Iraqi dinar and reduce unemployment and poverty.
referred to as the General Secretariat of the Council of Ministers announced in (12 April 2012) , the patient in the application process to delete the zeros from the national currency, which had to stop action all relating to the operation mentioned until further notice.
noteworthy that some economists believe that Iraq is not ready at the present time to delete the zeros from the dinar, pointing out that the deletion needs to stabilize the security and political as well as economic stability. was the International Monetary Fund, announced in (the 23 of March 2013), that the funds preventive Development Fund for Iraq rose in 2012 to $ 18 billion, and cash reserves of the Central Bank of hard currency to $ 70 billion, and pointed out that This rise came from “oil revenues unexpected,” in called the Iraqi government to end the control of banks owned by the state of the banking sector, he stressed the need for Iraq to strengthen public financial institutions to ensure efficiency and transparency in the use of oil revenues.
predicted USAID, in (third from December 2012 the past) that leads the Iraqi economy, Arab countries within five years, stressing that Iraq possessed all the qualifications to be a powerful country economically.
Iraq is trying for years to attract foreign capital to develop its economy in the fields of industry especially oil, including housing and oil and gas extraction , for the need of funds for infrastructure development and reconstruction, but observers assert that the lack of interest of the state to the private sector and the absence of investment laws which guarantees for investors and the absence of other laws that are still obstacles to the development of the economy in the form required. depends Iraq, which has the fourth largest oil reserves in the the world to 95 percent of its annual budget on oil exports and currently produces about two million and 900 thousand barrels per day, while the issue up to 2. 0002 million barrels per day. was the UN Security Council voted in, (27 June 2013), unanimously approved the decision to remove Iraq from Chapter Chapter VII, after more than two decades of sanctions imposed whereby in the wake of the former regime’s invasion of Kuwait on the second of August 1990.
almadapaper. net

7-15-13 Iraq Business News:  American-based private equity firm Carlyle Group is reported to be looking for opportunities in Northern Iraq.

A report from Dow Jones says the move comes as a result of a new $750m fund that the company hopes to raise to invest in the Middle East and North Africa.

The firm, which is expected to begin informal talks with investors after Ramadan, has been one of the few buyout firms to remain active in the region in recent years.

LINK

 

I have seen a ton of people talking about the ISX going International and Electronic yesterday. What really disappoints me with the information that is coming out, is who it is coming from. Many of the “Gurus” have been around for a while and know that the ISX has been trading Electronically since April 19th 2009.

I know this because at that time, I as well as many others thought, how can they go electronic without an internationally tradeable currency. Well what we didn’t realize is that they were just upgrading the systems to a Thompson Reuters system and were coming out of the stone ages.

As you probably read an article yesterday stating 5 stocks went live….Well they went live on April 19th 2009. If I remember correctly 3 were banks and 2 hotels. I think Warka went live 2 months later. There was also an article stating that the ISX was upgrading their systems to the Nasdaq system the middle of June 2014. I am telling you this because these are the facts and you deserve them.

Read More  Link on Right

As many of you who have known me over the years also know I get very frustrated with the daily BS. We have enough good news to not make stuff up and a lot of these guys know better.

I’m also telling you this because the difference between now and the past 6 years is, Iraq is out of Ch 7 and they do have to get their finances in order. Which means the currency does have to go International.

We also know that the Banks are ready. The currency has been run through the system for testing and everyone is waiting.

We also know large multi billion dollar companies are going into Iraq which they don’t do without knowing what’s to come. Take all that info and it also tells you the rate isn’t going to start low and creep up. A Bank wouldn’t get ready for pennies.

So out of all this, this is an investment. Do your homework and know what is really going on! And know that many of these “Gurus” don’t know what they are talking about because they don’t study and the others are just trying to keep you on their sites and calls.

But in closing, keep your head up because it really is an amazing part of history to watch even if it is a rollercoaster ride…… and we are close (Really!). 

Oh and if someone has an article about the ISX going International yesterday please show me. Seriously because I have been looking all over the place. Thanks

Here is the 2009 Info.
http://usatoday30.usatoday.com/money/markets/2009-04-19-iraq-stock-exchange_N.htm 
Here is the 2013 Info.
http://www.iraq-businessnews.com/2013/07/03/stock-exchange-upgrades-to-nasdaq-technology/
 

Love
Tdurden

I4U:

PJ27] Robertprofessor Can you explain in laymans terms what the 6 month treaty is all about

 [Robertprofessor] PJ27 Six months to change out old dollars for new ones. To get that done worldwide in six months means it needs to begin very soon … like today kind of soon.

 [Robertprofessor] There’s a big gap between a percentage of members that just want the answer to date/rate, and what Jester is bringing to us. But if you don’t want the big picture, you can’t understand date/rate either.

[PJ27] Robertprofessor ty – that is refering to the ones here in the US correct?

Robertprofessor] PJ27 All the dollars in use now need to be exchanged for the ones that are not out yet. The treaty was to give six months for the two currencies to coexist without the old FRN being useless.

Iank1978] Robertprofessor also if lower level bank employees are in the know now they need to pull trigger ASAP
….
Read More Link on Right

[Robertprofessor] Iank1978 That makes sense but I think we are down to China’s satisfaction that all is the way they want it. Once that point is reached, we will have the global reset.

 [graciousme] Robertprofessor is china wanting a new look here in us is that the hold up ??

 [alfonse] We have been told lies and half truths for all our lives.. there is a natural mistrust of what we are told…some have been trained to look away from the man behind the curtain…we have to see the truth and unlax and rewind..imo

 [Robertprofessor] DrRod Hi there friend. I’m just getting up and logging on. I tell myself not to do that until I’m ready for the day, but I stagger over here from a late night, log on and start in.

 [Robertprofessor] Trust me on this one. No one has developed all the contacts that Jester has now, no one sees the process like he does, and no one is assembling and explaining the big picture like him. The room needs to come up to his level!

 [DrRod] Robertprofessor Well here we are yet again after lots of so-called postive indicators. Seems we’re on the never ending journey. I’m very close….

[Robertprofessor] DrRod This really can end today. Will it? I don’t know.

 [Iank1978] Obxlady1 no it’s just gives the world time to transition from federal reserve note to UST bills

[heartfelt] Robertprofessor Just reading your postings and you are absolutely correct. He has a world of insight that most will not take the time to digest

[constantlyabiding] Bank boom continues: Goldman Sachs profit doubles http://www.cnbc.com/id/100887555

 [DrRod] Robertprofessor Personally, I am hopeful, but in reality based on ‘history’ I doubt it

 [constantlyabiding] Citigroup earnings, revenue top expectations http://www.cnbc.com/id/100882337

constantlyabiding] Wells Fargo, the biggest U.S. mortgage lender, posted a higher-than-expected 20 percent rise in quarterly profit on Friday http://www.cnbc.com/id/100880373

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 [shatterstar] This is my opinion…. Based on International Law a country has to have its own native currency to trade. Once a country has a competitive currency that can trade internationally on a platform with other countries… Iraq can’t do that yet without RV’ing their currency…

 [shatterstar] Because of this everything needs to be about their country. you have many people debating the rate/date/ who has the button and why?

shatterstar] But all of sudden literally last week the US becomes Basel 3 compliant.

 [shatterstar] Just follow the dots… We all know this is a process…

[shatterstar] Iraq is stalling because they dont have everything in place yet. And the powers that be have found a way to still make money off of the old system. I may be wrong but the last signature comes from China. China is the only country with direct access to the UST. US because of it being a host

[shatterstar] the first nation to benefit from the RV can exert pressure on Iraq. The reset is already finished they just need to make it active with the rate that wwas previously agreed. Once that happens we can go to the bank. IMF is the fail-safe. It would look good if Iraq did it or announced it but I

 [shatterstar] think they will force the hand and the rate will be much higher than anticipated because of the transparency of natural assets that Iraq has.

[shatterstar] I think we have less than 48hrs left with all of this.

[peachesten] shatterstar why not any one of the 198 or whatever that number is of nation’s announcing it whjy iraq, becasue we hold dinar?? As iraq’s dinar increases in value our over inflated dollar is going to devalue that is not a party to me boo!!

[shatterstar] peachesten yes and no think of this… we found out that there is a treaty in country so that all currency in US will be valued 1:1, but outside of the country notsomuch… Why I think is that we the dollar devaluizing it will end money laundering funding for bad groups

[shatterstar] peachesten we are the host nation because of everything that happened in 2003 and because of how much interest of IMF we control…

[peachesten] shatterstar well that is good but doesnt that ring in your ear 1:1 for 6 months…then what will the ratio be I wonder? To me that indicates a devalue happening but that just might be the way I see it

[shatterstar] peachesten the transition for us is automatic…

[shatterstar] After 6 months you won’t be able to get a Federal Reserve note unless you saved it under your mattress somewhere..

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GET:

 [lgtennis] alot of times we are getting news out of there that is old

[js86901] lgtennis right

 [lgtennis] iraq comes out with articles that are 2 weeks old

[lgtennis] they are not in real time

[lgtennis] ones that are good to look at is the articles out of kurdistan

[Diogenes] lgtennis You are doing great, keep it coming and ignore the rest. :)

 [lgtennis] i would love for somebody to be right for a change

[IslandDancer] lgtennis was right! But this is a fluid event with changes and things popping up any moment, like the ping problems, the request for a day extension, etc.

 [lgtennis] there are ciircumstances beyond our control period

 [lgtennis] IslandDancer thats true its crazy

 [Diogenes] lgtennis Do you think there is some kind of schedule for this to pop or will it be random? TY

[lgtennis] Diogenes to be honest combination of  both

 [lgtennis] timing

[golferiam] Diogenes good question…personally, I think it will pop whenever it & they are ready…we just don’t know when that will be

tennis] Diogenes yep

[lgtennis] SonoMan23 again like i said this can pop anytime for nowhere

[lgtennis] we are that close it can

[holistichealth] timing is part of their culture & the moon plays a big part

[rich17] lgtennis I am just logging on. It seems there is a bit of frustration. Are you seeing good things happen or do we have a problem from where we thought we were?

[lgtennis] rich17 no problem just waiting timing

 [rich17] lgtennis Any idea when at this point?

 [lgtennis] gosh really anytime this can pop thats how close we are in this now

[rich17] lgtennis Have we stumped our toe in this process or is it still a green light?

 [lgtennis] rich17 green light we are good

rich17] lgtennis Can Iraq continue to operate indefinitely without the RV now that chapter 7 has been released and they are on international stock market?

 [lgtennis] rich17 no they cant and its not about iraq at all darlin

[lgtennis] its global

[rich17] lgtennis I understand….but how are they operating for 3 weeks now out of Chapter 7?

[lgtennis] they will be given the word what do do

lgtennis] rich17 not there call

[lifetalker] lgtennis Do you know if indeed Iraq would need a full Erbil agreement in place prior to our blessing. I remember last year someone saying.. to watch for Cap 7 and Erbil announcment.

[lgtennis] lifetalker lifetalker all that is done darling

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TNT:

Avery] OMG…this is so weird. I just had the CEO of an MLM company call me to ask how I’m doing and why I haven’t been doing much with the business lately and I said…oh, I’m studying Currency Exchange, etc.. (which I am) and so he says…well if you are doing that…I hope you bought some Dinar! I asked him what he knows about the Dinar. His son is very high in intel over in Iraq and he says that every single person in the government has Dinars and are waiting. He said that Iraq is trying to circulate the smaller denominations before opening it up to the larger ones that we have. He says it will be soon, but doesn’t think today. BUT,…he is not on any chat rooms or internet, so maybe he doesn’t realize how close it is. He also said he is going to Wells Fargo and already has his account set up. Guess that put a little more assurance in my heart today.

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MIG:

[Imperium] [Lakerfan] [linda57] INTEL…..This just in……Wells Fargo in Georga said they have no problem exchanging the dinar & VND AND you can come in as many times as you want to and get the same rate…come in as many times as you want to to do exchanges!!

[Imperium] [Lakerfan] But if you are in a “group” you can only get that group rate the one time when you do it as a group.There was a WF in Virginia who said they will also, when there’s a rate.woohooo!

Translated from Al-Hayat by Abdel Wahed Tohmeh, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Iraqi Kurdistan Region Natural Resources Minister Ashti Hawrami (pictured) said that the shares of oil companies operating in the region have exceeded $3.5 billion. He stressed the importance of the oil and gas law’s enactment, and estimated that oil reserves in the three Kurdish governorates are at more than 45 billion barrels.

In an interview with Al-Hayat, Hawrami said that the negotiations with Baghdad will be in accordance with the law, which determines the Kurdistan region’s financial share of federal revenues. “The provincial government informed Baghdad at the beginning of this year that the investing companies requested more than $3.5 billion [in shares], and they are constitutionally entitled to this,” he said.

He denied Baghdad’s accusations that the region is exporting crude oil without coordinating with Baghdad, adding, “This is taking place under an agreement with Baghdad to export our production, on the condition that 50% of proceeds is deducted to pay companies’ dues, while the other 50% is kept by the state treasury. However, all the proceeds were seized.”

He denied rumors of smuggling, saying, “There is no oil smuggling, we do not accept such cheap accusations. What was claimed is a legal entitlement and it came because we forbid them from grabbing it.” He criticized the current management of the country’s imports, which “still follows the methods of the former regime and include laws that are imposed on us by force from the federal government.”

Hawrami demanded that the central government provide the region with the 55 million barrels of fuel “that we did not receive from 2004 to 2012, and that are needed for domestic consumption.”

By Ali Abel Sadah for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

On July 9, 2013, a source close to Iraqi Parliament Speaker Osama al-Nujaifi (pictured) revealed that the political parties draft law will not be enacted during the current legislative session, due to sharp differences between the leaders of political blocs.

“Long discussions were held last week between the leaders of political blocs in parliament regarding the law. However, no consensus has been reached to pass it during this session,” the source said in a statement to Al-Monitor.

The source, who spoke on the condition of anonymity, added, “This law was supposed to be voted on during the session, but due to mistrust between political blocs, political leaders failed to reach an agreement in this regard.”

Speaking to Al-Monitor, Ahmed Abdullah, the deputy chairman of Iraq’s Integrity Committee, said, “Major political parties, especially those in the government, do not wish to enact this law because it reveals their financial resources.”

“The political parties law provides for strict conditions on financial returns and sources of donations. Therefore, the parties that are receiving suspicious funds will not allow its legislation,” he added.

According to the draft law developed by lawmakers, funding resources for political parties include: subscription fees of its members; internal endowments and donations; returns of [the party’s] newspaper, publications and other activities; and financial support from the general budget of the state as per the Annual Budget law.