A joint committee to browning Training Center Act monetary and banking

06/30/2013





The parliamentary Finance Committee raised the level of coordination with the Economic Commission for the completion of parliamentary bill Training Center monetary and banking.

And a member of the Finance Committee said Magda Tamimi's (IMN) that "economic joint committee with the parliamentary process to provide a final report on the draft law center monetary and banking training next week."

She added that "the draft law project provides for the replacement of Banking Studies Center training center monetary and banking in the Central Bank of Iraq to develop technical and practical treatments for fiscal and monetary policy."

And that "the Centre will be watching the decline and rise in the exchange rate of the Iraqi dinar and the nature of economic laws as well as the development of staff expertise in the banking sector."

And completed the Higher Committee overseeing the restructuring of State-owned banks in April / May last economic and technical studies necessary for the implementation of political restructuring.

Economists believe that re ھیكلة the Rafidain and Rasheed conditional on the legislative reform process for the banks, which is commensurate with the aspirations of the banking business in Iraq.

And holds the government banks 90% of the banking operations.

The restructuring plan includes four axes banks, is Restructuring Cgalah and strategic re-evaluation of assets and re-banks and accounts audited by an external auditor.

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Economists: out of Iraq from Chapter VII will bring foreign investment and is the country's frozen funds

30-06-2013

Baghdad (news) / report / Hussein Faleh / .. After the vote the UN Security Council voted unanimously to exit Iraq from Chapter VII, which imposed a year ago (1990), especially after Iraq's occupation of Kuwait, which provided for the adoption of economic sanctions stranglehold on the country, Iraq has sovereignty full national and liberation of all economic restrictions, which has become a stumbling block before the advent of international companies to invest in the country.

The confirmed number of deputies and economic experts that Iraq would emerge from the provisions of Chapter VII internationalist bring international companies sober-owned and developed countries to Iraq for the purpose of work and investment, which has been facing many difficulties prevent them from coming into the country by the UN resolution.

They explained their talk (of the Agency news) to remove Iraq from Chapter VII of money refunded frozen Iraqi funds in foreign banks, as well as in the Development Fund for Iraq to the country, gives him the freedom to dispose of them.

A member of the Finance Committee and the Secretary-General of the People's Movement Attorney Ali Alsjeri, stressed: that Iraq would emerge from the provisions of Chapter VII of the Charter of the United Nations will have significant economic benefits for the country.

And said Alsjeri (of the Agency news): This item behind the great economic damage, where pay international companies in various fields of work away from Iraq after being largely financial system and the impact on Iraq's sovereignty in general.

He added: remove Iraq from Chapter VII to VI سينقله the Rehab development by allowing the world's largest construction companies for reconstruction and therefore Iraq will return to the international community incubator after a break that lasted more than 23 years.

He pointed out: that the positive effects of which will be reflected directly on the State-owned banks that were forced to resort to secondary agents in order to sustain its foreign relations, which would have cost extra money and expressed the hope that this will contribute to the achievement of developmental renaissance in Iraq.

The Iraqi government announced that Iraq would emerge from Chapter VII of the Charter of the United Nations represents the last external obstacle in front of him to regain full sovereignty remains to deal with internal challenges.

It is noteworthy that Iraq would emerge from Chapter VII would make him able to manage his money without international trusteeship would also allow him to return to normal in the international community in terms of processing, especially health equipment and manufacturing, especially military weapons, light, medium and heavy-duty, except banned internationally.

For his part, said the decision of the Commission on the economy and investment MP / coalition of Kurdish blocs / Khalil Mahma, that the end of the provisions of Chapter VII, will enable Iraq to recover its funds frozen, and end the tax paid by the people, by the practices of the former regime.
He said (of the Agency news): that Iraq has met all its obligations towards Kuwait, which makes it imperative for the international community to fulfill its obligations towards Iraq and the lifting of prosecutions on frozen Iraqi funds abroad.

He added: The people and the Iraqi government has tolerated a lot in order to remove Iraq from Chapter VII and the time now, conveniently out of this limitation, which hurt many citizens, stressing that Iraq would emerge from this decision will prompt global companies owned by the developed countries to come to Iraq for the purpose of investment.

As an economist Adnan al-Kanani, said: that out of the provisions of Chapter VII requires urgent pause on the financial sector, particularly the banking sector, which will be faster beneficiaries from entering the global financial market and wider doors.
He said (of the Agency news) to: the importance of exploiting the opportunity and develop sector Bashklah the government and private sectors through partnerships and the formation of relationships with leading global banks known.

He added: it was time for the banks to develop their systems and electronic instructions and method of work and foremost a way of thinking and management as well as the expansion of its branch network both inside and outside Iraq, especially in the countries that we have with the trade as strong as Turkey, China, Saudi Arabia, South Korea, Iran, Russia and others, where does not have Iraqi banks there E., with no legal barriers, nor political, nor economic sanctions after today prevent us from communicating with the world.

Since the nineties groaning Iraq under the weight of sanctions, since the international embargo that resulted from the United Nations Resolution 661, which was issued on August 6, 1990 due to the Iraqi invasion of Kuwait, and provided for the adoption of economic sanctions stranglehold on Iraq to force his time on the immediate withdrawal from Kuwait. This decision was followed by almost ten successive resolutions, warning him of the consequences of his stay in Kuwait and the defiance of the international community.

And suffered Iraqis two of these sanctions, which deprived them of food and medicine, as well as all means of progress and technology that reached the world in the era of the nineties of the last century, which led to the deaths of a million and a half million children as a result of hunger and lack of medicine acute and their lack of the most basic means of life.

This siege lasted nearly 13 years where practically ended with the fall of the Baath regime in 2003, Iraq had suffered from severe isolation from most countries in the world politically, diplomatically and economically, but Iraq remained suffers from the effects of hindsight under Chapter VII of the Charter internationalist. And compared to the suffering of the Iraqi sanctions made Saddam Hussein, one of the richest ten richest in the world. / End / 8 /

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Expert: Agreement "NASDAQ" World Stock Exchange will contribute to the development of the stock market work

30-06-2013

Baghdad (news) .. Said Ismail Radi economist, said the agreement concluded by the Iraqi market for securities with the global institution NASDAQ stock exchange will contribute to the development of his work in the system business dealings.

Radi said (of the Agency news): The Iraqi market for securities in urgent need for the development of his work through the use of modern Technology systems, must be contracted with discreet international institutions specialized in the development of the work of international stock markets.

He added: that the initiative of the Iraqi market for securities Finance Ptaakedh with the NASDAQ Global Foundation will contribute significantly to the development of the work of the Iraqi Stock Exchange of current systems with another make them a platform for business transactions fast and sophisticated at the global level.

This institution has signed NASDAQ Global Market, on Saturday, an agreement with the Iraqi market for securities to develop the system work in business dealings.

The technology NASDAQ X-Stream currently used in more than 25 stock market in the world. / End / 8.'s. M /

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GCC welcomes the exit of Iraq from Chapter VII

 30, 2013

Welcomed the Gulf Cooperation Council (GCC) the exit of Iraq from Chapter VII.

The UN Security Council voted last Thursday to exit Iraq majority of international sanctions imposed on it under the provisions of Chapter VII, because of the former regime's invasion of Kuwait in 1990.

According to a statement for the meeting of the Gulf Cooperation Council after held yesterday in the Bahraini capital Manama that "the Council welcomed the Security Council resolution No. 2107/2013 unanimous referral of prisoners and missing persons and the return of Kuwaiti property to the United Nations Mission to help Iraq [UNAMI] under Chapter VI, instead of Chapter VII of the Charter of the United Nations, to follow up on this file. "

He said the "fruit of the positive development of relations between Kuwait and Iraq and mutual visits between officials of the two countries and on these visits resulted in the signing of important agreements of the parties, on some bilateral issues and international obligations."

The Council stressed "support this decision and that the issue of prisoners and missing persons and the return of Kuwaiti property matters of a purely humanitarian nature, and looks forward to the Iraqi government to continue its efforts in cooperation with the State of Kuwait and the international community." Is over.

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Vice observers: Kuwait's remarks on survival in Chapter VII concerning Bouklavadtha the Interior

30/06/2013

MPs and observers stressed, on Saturday, that Iraq came "in part" of the provisions of Chapter VII, and the remainder of its obligations under this chapter of the Charter of the United Nations is a "minor technical matters."
As stressed that Iraq has met many of its obligations towards the State of Kuwait, they saw that the reconstruction of the country for the seventh season need to difficult استصداره the UN resolution again, considering the Kuwaiti side talk about survival of Iraq under international sanctions, the issue of "internal marketing".
The UN Security Council voted unanimously last Thursday, the Resolution No. 2107 which provides for partially remove Iraq from the provisions of Chapter VII of the Charter of the United Nations, and an end to the mission of the Special Coordinator of the United Nations responsible for my Kuwaiti missing persons and property. The transfer of the Security Council, by resolution, My Kuwaiti missing persons and property under Chapter VI to the work of the United Nations Mission to help Iraq (UNAMI) and keep them under the umbrella of the UN Security Council review.
The text of the statement issued by the United Nations on "the application of Chapter VI of the Charter of the United Nations, rather than Chapter VII, with respect to the issue of missing Kuwaiti property and archives." He also urged Iraq to continue his efforts in the search for missing Kuwaiti property, including the National Archives through the Joint Ministerial Commission between the two sides.
The Kuwaiti Information Minister Salman Hamoud said, in a press statement quoted by the media, a Kuwaiti, said that "the file of compensation owed by Iraq of Kuwait is still under Chapter VII of the Charter of the United Nations," pointing to "the existence of a mechanism under the auspices of the United Nations to follow up the payment of compensation amounting to about $ 11 billion. "
Sabah expressed the hope that "the exit of Iraq from the provisions of Chapter VII fully," he said, adding that "there is a part of the compensation, there is a mechanism in the joint meetings under the auspices of the United Nations in the development of mechanisms to address compensation."
The Kuwaiti minister pointed out that "the survival of some of the files under Chapter VII does not mean that Kuwait has no fears towards its northern neighbor," stressing that "relations between the two countries have improved significantly."
In this context, the MP Hassan Chuird, a member of the Foreign Relations Committee, parliamentary, "The decision to exit Iraq from Chapter VII irreversible," adding that "the technical committees between Kuwait and Iraq working hard to end all outstanding issues between the two sides."
And saw Chuird, in a statement to the "long" yesterday, said, "What the rest of the outstanding issues between Kuwait and Iraq are missing and archive file and compensation," adding that "the technical committees have made significant strides."
It stresses a member of the Foreign Relations Committee in the House of Representatives that "Iraq is working hard to discuss the Kuwaiti archives and the remains of missing Kuwaitis in Iraq during Iraq's invasion of Kuwait in 1990," pointing out that "the compensation of Iraq to Kuwait, estimated at $ 11 billion will expire in 2015."
He adds Chuird saying that "Iraq does not have an interest in hiding Archive and missing Kuwaitis, so Iraq can not be returned to Chapter VII, but the existence of a new complaint against him, and this needs to be great strides difficult to achieve again."
The Undersecretary of the Kuwaiti Ministry of Foreign Affairs Khaled Al-Jarallah described a UN Security Council resolution as "an important step," adding that "the decision will reflect positively on Iraq's relations with Kuwait and the international community."
The neighbor of God that "Iraq showed significant cooperation in resolving the outstanding issues with Kuwait," he said, adding "for the missing property was handled by international coordinator under the provisions of Chapter VII, and now holds the job UNAMI in Iraq, the United Nations, so that remains of this compensation only little. " The Kuwaiti official stressed, saying "our brothers in Iraq Mentzmon in the payment of such compensation, and also confirmed that they will continue to pay this compensation to the end of the last installment."
In turn, attributed the Ali al-Jubouri, a professor of political science at Baghdad University, told the Kuwaiti Information Minister, for the survival of Iraq under Chapter VII, to "internal crises in Kuwait between the government and the opposition."
He believed Jubouri, in a statement to the "long" yesterday that "Iraq came partly from Chapter VII-VI and the remaining things minor technical," adding that "Iraq has completed many of the decisions relating to Chapter VII with the Kuwaiti side," diminishing of the "issues that still stuck because they will not hinder the country's exit completely from the provisions of Chapter VII. "
He criticized political science professor told the Kuwaiti Information Minister, noting that it "to Iraq and accused related to internal problems in the State of Kuwait."

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