People Invested Millionday Chat 

Millionday news 5/24/13

    [millionday] Stressed the financial affairs expert Samir  the need to review the work of the banking sector in the previous stage before the adoption of methods of banking reform.

 He pointed out that a good indicator in the local banking business lies in achieving the total balance of deposits in the Iraqi banking system (42) trillion dinars and a proportion (29 percent) of the total liabilities, an indicator of monetary and financial stability.

He added, “morning” to build a banking sector discreet depends on the profitability of those banks, efficiency and capacity of their capital in the face of circumstances and economic variables, such as liberalization of the financial sector and the change in the course of monetary policy and financial sector development and the evolution of the investment climate

    [millionday] note — much more advanced banking for iraq
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     [millionday] pointing out that there is a contradiction and mobility taking place in front of the task of monetary policy directly and indirectly in the development and strengthening of financial intermediation activities and the strengthening and building the infrastructure bank, the stability and development of the financial market no less important than the functions of monetary policy to control inflation and provide overall stability of an incubator opportunities for growth and accelerate economic prosperity.

    [millionday] this is the move to activate the monetary policy and the economic reform as with the banking reform activation — so they support each other

    [millionday] this banking reform is much more advanced then iraq has ever seen and they are also referring to the market of banking  with securities and of course international compliance

    [millionday] He said that the structural weaknesses in the banking system lies in the credit away from the router, where a non-directed lending practices to a marked deterioration in the quality of the loan portfolios of banks,

which subsequently exacerbated by general economic conditions unfavorable, has resulted in the accumulation of NPLs to limit the ability of banks to perform the functions of mediation by reducing the liquidity available to it and increase the cost of its operations, this case has appeared prominently in civil commercial banks, as well as double the efficiency of payment systems because

    [millionday] note — its eating away at there money in its present condition and limiting their growth ect

    [millionday] the applicable clearing system in Iraq is a record system for clearing and is based on the actual transfer of debt instruments and credit on the new method in the examination of these tools and make sure of them, depending on payments systems that are now applied unevenly between the bank and the last,

which led to the slow process of settling payments between the banking system as a whole and therefore weak in terms of disclosure and oversight bank statements vary in comprehensiveness and accuracy from one bank to another, which makes it difficult to make a comparison between him and international banks despite the CBI seeking to develop Payments Systems currently has applied and has now National chunked project is the development of new payment systems will be implemented soon.

    [millionday] a new payment soon is the result to make the new rules work — and the new reforms / rules  And ways of confronting challenges to reform the banking sector said : Despite considerable efforts made by the Monetary Authority and the Ministry of Finance in the banking sector support these banks are still facing major challenges because of the circumstances experienced by the country,

as well as the lack of qualified banking Level have weakness in the means of the banking business, as well as disparities in the use of modern technology as a network communications and information systems, the Internet and not to adopt control methods and financial disclosure and accounting for its financial statements, and that the total of these factors can be considered in front of banks,

    millionday] note — the beginning of all the changes is going slow due to it being change — the business is not flourishing but growing as does any new system anywhere  which is working hard in cooperation with the central bank to overcome them through compliance with international banking standards,

including the standard capital adequacy and financial disclosure of the financial statements of banks and develop a strategic plan for the development of the technology used in the banking system,

according to the possibilities available and linking banks and telecommunications network terminals with central bank Iraq, in addition to encouraging banks to establish mutual funds in order to expand the opportunities available to them to invest their deposits.

He pointed to the importance of creating a banking regulatory environment allow for the development of the banking system through new legislation for banks in line with current and future developments in this regard.

    [millionday] which is working hard in cooperation with the central bank to overcome them through compliance with international banking standards, including the standard capital adequacy and financial disclosure of the financial statements of banks and develop a strategic plan for the development of the technology used in the banking system,

according to the possibilities available and linking banks and telecommunications network terminals with central bank Iraq, in addition to encouraging banks to establish mutual funds in order to expand the opportunities available to them to invest their deposits.

He pointed to the importance of creating a banking regulatory environment allow for the development of the banking system through new legislation for banks in line with current and future developments in this regard.

    [millionday] wow this is huge — as you know the international banking is inclusive of the basel compliance as well   wturner — my answer would be yes then

    WTURNER] YOU are the belle of the RV ball, hun

    [lorijeanmarshall] millionday WOW, all of that to answer WTURNER’s question? I am impressed millionday !!!!

    [millionday] and this is huge change so we expect it to not take off with consumers in the country with their distrust but they are getting all modern banking and more advanced in the works and the way they are doing that is by introducing a new monetary system — love it

    [millionday] WTURNER thanks hun — smile

    [WTURNER] WHERE have you been all of our RV life? 😉

    [millionday] And study the idea of ​​creating a society for the task of banks to overcome the difficulties faced by these banks and solve problems arising out of them or between them and others.

 As well as encourage banks to make loans in order to invest its funds and reduce the risks faced and overcome the lending limits set out a certain percentage of the bank’s capital and reserves set out in the Law of the Central Bank of Iraq.

Abyan and the importance of working to encourage banks to open more branches and banking offices in various provinces to increase the density bank in accordance with the conditions set by the Central Bank of Iraq.

    [millionday] sitting in this chair lol  lol

    [jimplants] Introducing a new monetary system as in lds?

    [millionday] i would assume — yes but we shall see — of course they can be also adding credit cards and bonds and all other tools as they also introduce the rate they are entering the world at

    [millionday] With the provisions of monitoring the performance of banks during the follow-up field and the office of its activity by the monetary authority and Note abuses taking place on the instructions banking and processed aphid. And develop a plan to achieve future mergers between private banks to create large-scale banking units can occupy an important space of the local banking business.

    [millionday] so they are obviously moving way forward with their banking business   brb with more

    [millionday] and then they will all look at it here

    [millionday] Union of Arab Banks announced organized banking seminar in Erbil, the beginning of June, on the subject of internal audit based on risk measurement.

It is hoped to attend the seminar, which will start on the third of next month and will last for three days, a number of economic figures of Iraq and a number of officials and specialists affairs, banking and finance.

This is the economic efficiency of the second of its kind organized by the Union in Iraq this year having launched the Baghdad economic Forum events and banking in the capital Baghdad in the eleventh of January, which dealt with several axes for the development of the Iraqi banking sector.

 It is worth mentioning that a similar seminar will be held in Erbil, also in the month of October next examine and deal with the subject (operational risk between Basel II and Basel III)

    [millionday] decisions in what they are going to hold on as thier comliance — basel 2 or 3 months later

    millionday] look what they are announcing to their citizens

    [millionday] Announced the Presidency of the Council of Representatives absent 21 deputies for sessions 20, 21 and 22 of the parliament.

 According to a copy of the prospectus a statement issued by the information department of the House of Representatives received »Sabah» copy of it, members absent from the parliament session 20 on the seventh of May, the current are: List of National Alliance – Hassan Nabi Abbas and the Iraqi List – Lawrence tired الهذال, Shaalan Abdul Jabbar Ali, Ajil Hamidi Ajil and white national list – Gamal Abdel Mahdi Ali watermelon.

    [millionday] The statement noted that absent from Algelssah 21 on May 9 present were: List of the National Alliance – Hassan Abdul Nabi Abbas and the Iraqi List – Lawrence tired Shaalan Abdul Jabbar Ali, Abdul Diab Ajil Hamidi Ajil and cleft Hassan Mustafa and list the Kurdistan Islamic Union – Uzair Hafiz Nazir. either for the 22nd meeting on May 11 the current were: Hassan Abdul Nabi Abbas, Uday Awad Kadhim from the list of the National Alliance and Lawrence tired Shaalan Abdul Jabbar Ali, Abdul Diab Ajil Hamidi Ajil, Khalil Zaidan Khalaf and Faten Abdel Qader nice from the Iraqi List and Koutaiba Ibrahim Turki of the Iraqi List, free.

    [millionday] The consensus is unique and first of its kind in more than four months, united votes preachers and worshipers in Baghdad and Karbala and Anbar yesterday to call for the unity of Iraq and its people and the rejection of sectarianism and reject schemes of State efforts to tear the country, after being separated by the language of politics.

Perhaps what yesterday boosted F “security calm” in general, was the F or F Iraq and Iraq’s unity against, according to observers. While collecting Martyr Monument in Baghdad, worshipers of the two communities in a united prayer dominated by the language of reason and renounce claims the band, the religious authority reiterated its call to stick to peaceful living, who confirmed that he is important and necessary, despite the differences.

    [millionday] this means today of course — so again we have the religious leaders trying to change the situation –  they have the hope of being more successful then any other

    [wmawhite] millionday ……..the religious leaders from around the country are calling for the uniting of Iraq………..good.

    [millionday] in that region they have great respect and have authority in the eyes of the citizens

    [millionday] it is very good due to their culture and of course the religious beliefs of the region — their religious leaders are held high

    [wmawhite] millionday …..this is in addition to the Sunni going to meet with the Kurds…………………and that is after the agreement between the PM who a Shiite agreeing with the Kurds.

    [wmawhite] Sunnis

    [millionday] And proved the sons of Anbar again yesterday, their attachment to the unity of Iraq and selected a peaceful solution, when it tore banners calling for the establishment of the province of Western lifting heads and members of the so-called “popular committees”, stressing their commitment to the unity of Iraq.

 Has been held in Baghdad on the first Friday prayers unified response to an appeal by Prime Minister Nuri al-Maliki, with the participation of dozens of Shiite clerics and Sunni most prominent head of the Shiite Endowment Sheikh Saleh al-Haidari, head of the Sunni Endowment Sheikh Ahmad Abdul-Ghafoor Samarrai, and Advisor to the Prime Minister for National Reconciliation Amer al-Khuzaie, the Chairman of the Committee Endowments representative on the Keywords.

was the Prime Minister had called last Sunday in a statement to the prayers unified gathering of Iraqi Sunnis and Shiites. accused the head of Shiite Endowment, the Baath Party of stirring up strife in Iraq

    [wmawhite] It appears to be a break throughout/an agreement.

    [millionday] right — i agree  very good news

    [wmawhite] Interesting,……..that this comes at the time all of these reforms are being implemented..hmmmmmm.

    [millionday] this report goes on to talk about this going on in all areas and the positive response of the whole country   hmmm — very positive news and they seem to be agreeing in the streets   nice

    [millionday] ok so i dont see anything else right now if i do i will bring it in