Saturday, June 30, 2012

Economists and MPs: private banks suffer government neglect and the absence of laws regulating the work

  Saturday 06/30/2012

Baghdad (news). Report / dreams Furaiji / .. Economists said the deputies in the Parliament that there was negligence and clear by the Iraqi government to domestic banks operating in the country, because of the absence of laws regulating the work and stand in front of her, urging the government to legislate all the laws on banks eligibility and the provision of bond support by the central bank to end the crisis of confidence between private banks and citizens.
The member of the Finance Committee MP / National Alliance / Haitham Ramadan Jubouri (of the Agency news): The private banks suffer from the actions and many laws are an obstacle in front of functioning, indicating the following: that the increase in private banks and to increase their capital is a catalyst for investment.

He added that the private banks in Iraq suffer from capital is low and there is no supported her, such as the CBI, which does not give a guarantee to domestic banks what drives the customer to not deal with it and the fear of loss of his money, saying: lack of encouragement to the domestic banks and the private sector by the central government.

And between a member of the Finance Committee: The House of Representatives has not yet begun the laws governing the work of private banks, adding that the government banks to have something of a moral powerful as a result of ownership of Guanyin wide open by the parliament granted by this character, while the private banks do not have a corporate status, which led to the reluctance of officials and government departments to deal with it.

The Jubouri: that most of the letters of guarantee that comes from the private banks is not by force enjoyed by the government banks, indicating the following: letter of guarantee that the companies are doing to engage in tenders or auctions of the State.

For his part, said economic analyst for the spectrum Abdul Salim (of the Agency news): The private banks are supposed to be working to promote investment but banking policy pursued by the government does not encourage domestic investment, he said: You should be sources of income the state portion of the revenues that come of private banks.

And Salem: that most people have large amounts of cash but they can not be Eodauha in banks as a result of the crisis of confidence for bad and actions are not encouraging in place by the government, which requires the citizen to bring a sponsor when depositing funds and provided that the sponsor has an account notebook in the bank, pointing out: that all citizens pay this routine to shy away from the deposit of funds in the National Bank.

He pointed out: that the loans provided by private banks are not encouraging as there are significant benefits to the bank while the interest rate that gives an applicant does not fit very few, and the amount of money which borrowed.

On the other hand confirmed member of the Finance Committee MP / National Alliance / Najiba Najib (of the Agency news): The private banks enhance the work of government banks is a catalyst for the advancement of the Iraqi economy.

She pointed out: that the Finance Committee is seeking to hold conferences to discuss the problems of private banks, "exclusively" and find appropriate solutions.

And called on Najib: Government to legislate all the laws on banks eligibility and the provision of bond support by the central bank to end the crisis of confidence of citizens banks eligibility and attract government departments to deal with it, she must activate the investment and use of expertise in foreign and electronic transactions that enable the rise of the reality of Iraq's economy.

As the Director of the Association of private banks Abdul Aziz Hassoun in his speech (of the Agency news): The private banks basically are the homes of a financial fund any economic event and as a result of the laws cruel and neglect the great from the government to domestic banks to make it with a negative character and with a bad reputation.

And: that the central government does not provide for domestic banks the most basic needs such as electricity, security guard and wheels to move the money from the center to the banks, pointing out that all these requirements provided by private banks self.

He Goldfinch to: that the procedures and strict censorship imposed only on the private banks, leaving the government banks navy leads to increased cases of financial corruption in government banks.

On the other hand between the adviser to the CBI the appearance of Mohammed in an interview (of the Agency news): The capital of private banks is sensitive and risk neutral toward what leads to the occurrence of major problems in dealings with the administration.

He explained: that the duty of the Central Bank is to issue instructions and regulations and protect the banks from collapse and to large losses as a result the errors committed in the most private banks, noting that the country to promote the private sector because of its great importance in spite of the problems experienced.

Saleh added: the duty of the central bank to encourage private banks and to provide her all his strength indicating the following: that the private banks grew up in difficult circumstances since the era of nineties.

He stressed the central bank adviser on the need to: be subject to private banks is determined by the standards of modern accounting and control and how to manage the risks that cause obstructions and cause great loss to the bank and deposited his money where citizen. / Finished / 21 / a. P /
 

Deputy for Iraq: two options now in front of the political blocs to withdraw confidence from the Maliki or early elections

  Saturday 06/30/2012

Baghdad (news) .. MP from / coalition in Iraq / Mohammad Khaldi, a snap election solutions "actually" to save the political process, pointing out that close all the doors to political dialogue will push the blocks to early elections.
He said Khalidi, in a statement (of the Agency news) on Saturday: (We in the coalition in Iraq (we think that the ways of dialogue and political solutions still remain and are open to all political forces, and if not successful political dialogue, Back then, could be talking about early elections is one of the options before the political parties.

He added that the early elections as a constitutional reaction to the interrogation of al-Maliki's efforts, but to call this decision lacks political support in the House of Representatives.

He pointed out: that the Iraqi constitution, put the doors to get out of this crisis have to resort to the reforms and this has been surpassed in the present time, where the blocks went to the last option which is either no confidence or a snap election.

This is demanding of the three political forces (Iraqi Kurdistan Sadrists) to withdraw confidence from the al-Maliki after their differences with him, while demanding Prime Minister Nuri al-Maliki's calls for political dialogue to resolve the crisis in the event of his failure to resort to early elections. / End / 12. N. R /
 

Thursday, June 28, 2012

Member of Finance Committee: the continuing need to combat the smuggling of currency

 Thursday, 28.06.2012

Baghdad (news) .. According to a member of the Finance Committee MP / coalition in Iraq / Ibrahim al-Mutlaq, the importance of the enactment of the Anti-Money Laundering Iraq to save the local currency of the degradation, indicating that the phenomena of money laundering and the smuggling of foreign currency are still ongoing in the country must eliminate them.
Mutlaq said (of the Agency news): The law of the Iraqi anti-money laundering is one of the important laws that keep the local currency of the degradation, indicating has its first reading in the House of Representatives and the second reading and will be voted on in future sessions.

He added that the money laundering and currency smuggling is still ongoing in the country for the lack of real control of the banking offices, drafts and hold in different ways by both internal and external points of its goal to destabilize the Iraqi economy and the deterioration of the local currency.

He explained: that the phenomenon of smuggling foreign currency are found in all the countries of the world, but rates varied, but in Iraq began to spread and take a number of ways either by discharge of the goods by the traders, or through the offices of money orders, calling for the need to put an end to these illegal operations, which are exploited by some countries neighbors who suffer from an international economic blockade to save its economy at the expense of the Iraqi economy. / Finished / 8. for. m /
 

Economic Parliamentary system can not work without modifying tariff

 Thursday, 06/28/2012

Baghdad (news) .. The head of the Economic Commission for MP / the Iraqi List / Ahmad al-Alwani, that the law on customs tariffs need to be modified, and can not work it only after making some amendments to it.
He said al-Alwani (for the Agency news) on Thursday: The tariff law should be modified and maturation to take into account the economic situation in the country and can not work it without amendment, indicating the following: that the Commission will amend the law to put the new charges in line with the economic situation in Iraq.

He added that the Iraqi market has a lot of traders who are storing items large and sold at high price at a time when people need it the pretext to postpone the law, indicating the following: that the tariff issue is vital and important can not be imposed by the Iraqi state without collection and without loan fees on goods entering Ghali Iraq.

He denied Alwani: worry about the rumors that the Iraqi citizens to increase prices of goods while the postponement of tariff law and the validity of these rumors, but the law needs to be modified and will not be any increase in prices. / End / 21. A. P /

Link

Sunday, June 24, 2012

Central Bank announces free government and private banks from fraud organizer of the local currency

22/06/2012

Central Bank announces free government and private banks from fraud organizer of the local currency

BAGHDAD / Center Brief for the Iraqi Media Network - The Central Bank of Iraq is free from government and private banks from the circulation of counterfeit currency saying it was classified as major economic crimes.

The deputy governor of the Central Bank of Iraq the appearance of Mohammed Saleh (Brief Center for the Iraqi Media Network) that "the government and private banks are completely free circulation of counterfeit currency and there are simple cases and the individual is found in some banks."

Saleh explained that "the Central Bank of Iraq put strict controls to limit the circulation of counterfeit currency because it is one of the major economic crimes."

The central bank seeks to develop a system of payments the country's economic and announced earlier in the high cash reserves of $ 50 billion to 60 billion dollars.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.
 
Link 

Ministry of Commerce announces the start of operations and transport part of the ration card in the first of next July

24-06-2012

The Ministry of Trade to begin operations and transport part of the ration cards after the end of the delivery of the new citizens coupon card for the years 2012-2013.

According to a statement issued by the ministry has received all of Iraq [where] he "decided to start out part and transport in the ration card as of the first of July next by reviewing citizens to the branches of Supply, located in all parts of the country for the purpose of promoting the transaction part and transport."

He stressed that citizens "need to inform the logistical center for cases of repetition in the ration card and for no more than a month from the date of redundancy, otherwise the ministry will take legal action against the violator."

Parliament will discuss on Monday the first reading and the second of nine bills

Sunday, 24, June

Sumerian News / Baghdad
Parliamentary source, Sunday, the Iraqi Council of Representatives session of the second legislative term of the first legislative year which will be held on the third Monday will see the first and second readings of the nine bills.

The source said in an interview for "Alsumaria News", "The agenda of the meeting of the Council of Representatives the second legislative term of the first year's legislative II, which will be held on Monday, includes the first reading of the bill the third amendment to the law of the Central Agency for Standardization and quality control and first reading of the bill and the Ministry of Transport average and the first reading of the draft regulation rental and ownership of agricultural land where the right to dispose of agricultural and veterinary graduates. "

The source, who asked not to be named "The table also includes the second reading of the draft law on ratification of the Convention on encouragement and reciprocal protection of investments and the Protocol between the Government of the Republic of Iraq and the Government of Federal Republic of Germany and the second reading of the draft law on ratification of the Arab Convention for combating money laundering and terrorist financing", arguing that "The session will also see the second reading of the draft law of the Republic of Iraq's accession to the Convention on the Settlement of Investment Disputes between States and Nationals of other countries."

The source continued that "the table also includes the second reading of the bill that the reconstruction of infrastructure and service sectors, as well as the second reading of the bill and the official language of the second reading of a bill of civil defense."

The Presidency of the Council of Representatives rose, yesterday Saturday 23 June,, the first session of the first legislative term of the Year-third Legislature, headed by Speaker Osama Najafi to the day after tomorrow, Monday, in parliamentary source that the meeting has to vote on three draft laws and the appointment of a member of the accountability and justice.

Link