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 "Soap on a Rope" - Sat. PM KTFA Thoughts/News 6/2/18 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

"Soap on a Rope" - Sat. PM KTFA Thoughts/News 6/2/18

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 "Soap on a Rope" - Sat. PM KTFA Thoughts/News 6/2/18 Empty "Soap on a Rope" - Sat. PM KTFA Thoughts/News 6/2/18

Post by Ssmith on Sun Jun 03, 2018 8:00 am


DLR » June 2nd, 2018

Rich people have small TVs and big libraries,and poor people have small libraries and big TVs - Zig Ziglar

Chermtg » June 2nd, 2018

i love that word implementation and i also love the immèdiate, now come on boys put the two together and do it....cant blame a girl for trying.. (big smile)

Don961 » June 2nd, 2018

Iraq parl't adjourns extraordinary session until Wednesday

June 02 2018 03:01 PM

Iraqi parliament

Iraqi parliament on Saturday adjourned its extraordinary session until Wednesday.

The Saturday session was due to discuss amendments to the election law.

MP Riad Ghali said that no more than 30 MPs attended Saturday's session. link

Jay » June 2nd, 2018

All imo. Blessings Don and hello. The 30 that showed up were all or some of the corrupt ones who want these amendment(s) done. All those that didn't show either don't care, have stopped their corrupt ways or they were/are not corrupt to begin with. This is very very good. I think that Wednesday's meeting will have the same results. In other words quit your crying cupcake. Be gone or be in prison. Soap on a rope anyone???

2Cents » June 2nd, 2018

Hahahaha Jabouri............YOU LOST!!!!..........Accept it!!!!!.......You are out of here!!!! Get ready for the corruption files.....

Don961 » June 2nd, 2018

Shadow Economy

02/6/2018 5:02 PM

Thamer Hymes

According to statistics and studies, the share of the shadow economy worldwide, according to the statistics and studies, is 5 percent of the international GDP according to a US State Department report. The parallel economy is generally defined as a national or local product that is not under the state's umbrella such as craftsmanship and simple work. .

Elements of a shadow or shadow economy include all activities that escape from the tax authority, ranging from money laundering to drugs through spraying, black market, gray or other illegal activities.

In developing countries, the proportion of the shadow economy in the national product is higher than that of developed countries. Paradoxically, America ranks first in the parallel economy, which may be due to the uneven income of Americans.

For example, customs duties and taxes are estimated at $ 3 billion and the equivalent of $ 3 billion is not met. This amount, at least according to Iraqi economists, is enough to serve the public debt, which is a cornerstone of the economy. We have no customs and non-tariff exemptions in this resource, which have been established for certain reasons but do not serve the economic process.

The exemptions are not legally valid, according to most constitutions, because they do not directly serve the national economy, especially at a critical stage. Thus, exceptions are exempted unless the parallel economy is brought to an end because it expands in a way that leads to legal and administrative complications. The economic scene and intersect with the golden rule of the centrality of tax and customs, which is in the state treasury to change them. Such illegal money requires gradual remedies and comprehensive education, to embarrass the beneficiaries of illegal exemptions or to embarrass the evaders and expose their interlocutors.

We hope that the emerging economists of the parliament will put the matter in the list of priorities and legislations, because the danger of the shadow economy is like the danger of arms outside the control of the state. Therefore, the intersection between the central administration and decentralization should be dismantled and the work of the regulatory bodies should be dismantled so that administrations can adjust their inputs and outputs and programs, Diverse and parallel authorities that are not integrated with the formal economy, thus contributing to putting an end to this bleeding in order to promote the inviolability of public funds. link

Iraq maintains its status of gold reserves

02/6/2018 5:02 PM

Capitals / follow-up morning

States have huge gold reserves to use when necessary and to support the value of their currency, especially if they want to print more money and pump it into local markets.

Gold reserves contribute to currency appreciation and protection from collapse.

Saudi Arabia ranked first in the Arab countries and ranked 16th in the world, in possession of gold, during the current May, with reserves of 322.9 tons, 2.7 percent of the total reserves, according to the latest report of the World Gold Council, while Lebanon ranked second in the Arab world and 19 globally, With reserves amounting to 286.8 tons, representing 21.6 percent of the total global reserves.

Algeria ranked third in the Arab world and 24 in the world, with reserves of 173.6 tons, 7 percent, Libya ranked fourth in the Arab world and 31 in the world, with reserves of 116.6 tons, 6.3 percent.

Iraq ranked fifth in the world and ranked 37th in the world with reserves of 89.8 tons, 7.8%, followed by Kuwait, which ranked sixth in the Arab world and 39 in the world, with reserves of 79 tons, 8.7%, Egypt is the seventh Arab and 40 global, percent.

In May, Russia advanced to China, the world's second-largest economy, with gold reserves. Its annual reserves rose by 210 tons of gold, up 0.7 percent from the same month last year.

The report showed that Russia ranked sixth in the world in 2018, the size of reserves reached 1890.8 tons, accounting for 17.6 percent of the total reserves, while China came in seventh place with reserves of 1842.6 tons, accounting for 2.4 percent of the total reserves.

The United States ranked first with reserves of 8133.5 tons, 75 percent of the total reserves, followed by Germany with a total reserves of 3372.2 tonnes, or 70.3 percent.

The International Monetary Fund came third with reserves of 2,814 tons, Italy came in fourth place with reserves amounted to 2451.8 tons, or 67.8 percent.

France came in fifth with 2,436 tonnes, 63.4 percent, followed by Russia and China in sixth and seventh respectively.

On a year-on-year basis, the United States also ranked first in May 2017 with reserves of 8133.5 tons, 75.1 percent. Germany came second with 3377.9 percent, 69.4 percent, and the International Monetary Fund with 2,814 tonnes.

Italy ranked fourth with reserves of 2451.8 tons, or 68.3 percent, followed by France with 2,435.9 tonnes, or 64.2 percent.

China came in sixth place with reserves of 1842.6, 2.4 percent, and Russia seventh with 1680.1 percent, 16.9 percent. link

2Cents » June 2nd, 2018

Articles are now saying court decision expected in 48 hours........Let's hope it is what we want.....

Samson » June 2nd, 2018

Banks and their structural development

2nd June, 2018 by Samir Nusairi

The official financial indicators of the activities of the Iraqi banking sector for the past five years indicate developments and expansions in the Iraqi banking sector. The rates of development in total capital increased by 98%, total assets by 16%, total deposits by 154% (77%). However, what is important in the developments is what the banks have achieved over the last two years of structural, structural and technical developments in light of the strategy of the Central Bank of Iraq for the years 2016-2020 and strict compliance with international standards of compliance rules and regulations.

Payment systems and electronic payment techniques and increase the financial coverage to 22% after 11%, which led to the reclassification of banks by the Central Bank locally and procedures are continuing for the purpose of classification by international rating companies.: -

I. Commitment and action in accordance with the regulations issued by the Central Bank of Iraq regarding the combating of money laundering and terrorism financing derived from FATF recommendations and in light of the principles derived from the Anti-Money Laundering Law No. 39 of 2015

II. Compliance with regulatory directives developed by the Central Bank in cooperation with the International Fund's Metac Center and making them conform to international standards and Basel II requirements

Third: The transition in the preparation of final and interim statements to international standards (IFRS),which ensures transparency of data and dealing with it by all parties responsible for financial reporting

Fourthly, to encourage and stimulate the processes of financial inclusion and try to increase its proportion in Iraq through the adoption of a project to settle salaries, a step to reduce the use of cash and the direction of growth of the non-monetary society

V. Work on the implementation of the plans of the Central Bank to revitalize the economic cycle and achieve economic stability and increase bank financing granted to small and medium enterprises

Sixth: The use of all methods and procedures required to be approved to verify the sources of funds of applicants for the purchase of foreign currency for the purpose of preserving the foreign currency of the detrimental behavior of the national economy

VII. Take the necessary measures to adopt risk criteria and adopt a precautionary policy to contribute to risk perception and thus take appropriate measures to address any risk

Eighth - Adopting the unified banking number (IBAN) which contributes to improving the level of banking services and clearing services and settling payments locally and internationally

IX - Contribution to the establishment of a deposit guarantee company to maintain the insurance of customers' deposits in circumstances that expose banks to financial collapses, which is a state of reassurance of customers to go to deal with the banking system

X. Commit and act in accordance with the policies and procedures set forth in the Governance Guide, which provides for transparency, disclosure and separation of management from ownership

Certainly, the banks' commitment to the above criteria will inevitably lead to
Holding banking partnerships between the regional and foreign banks and the Iraqi banks classified as A or excellent according to the special classification criteria adopted in the light of assessments of the Central Bank of Iraq and cooperation with banks classified internationally in the areas of international banking and adoption as correspondent banks in Iraq.

In the Iraqi banks internationally in accordance with the standards of the Financial Action Group and its positive impact on the improvement of the reputation of our national economy in the global circles LINK

Iraq's ratification of the International Labor Convention is a great gain for human rights

2nd June, 2018

Iraq's ratification of the International Labor Convention (ILO) is a major gain for human rights in general and for workers in particular, Labor Minister Mohammad Shiaa al-Sudani said Saturday (June 2, 2018).

"The Minister of Labor, Mohamed Shi'a al-Sudani, chaired the Iraqi delegation participating in the 107th session of the organization held in Geneva on the joint cooperation between Iraq and the International Labor Organization," al-Sudani's office said in a statement.

"The ratification of this agreement represents an important event for Iraq despite the difficult economic conditions that have passed over the country during the past period," he said, noting that "the agreement represents a great gain for human rights in general and for workers in particular, and must be a source of inspiration for workers and owners Work and future generations ".

For his part, praised the Director-General of the International Labor Organization, Gay Rider, Iraq's ratification of the International Labor Convention No. 87 of 1948, despite the difficult circumstances of Iraq, considering that the event is important for Iraq and the Organization.

He noted that "signing the record of the deposit of the agreement in the organization with the head of the delegation of Iraq participating in the work of the" 107 "of the organization in Geneva will have a significant impact in promoting the rights of Iraqi workers. LINK

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