Invitations to complete the use of electronic payment systemsTopic has been read 55 times01/03/2012 Banking sector to ensure the safe
BAGHDAD - Hussein Tgb Tamimi is continuing to talk about the advancement of the banking business in the country to suit the stage of economic transition, which is working to bring investment and wide in all sectors without exception, and this requires action bank provides prompt service and developed to suit the size of foreign capital coming to the country in huge amounts, which calls for international companies to provide banking services to a high degree of sophistication, and here must work towards the transfer of technology from the developed world to create the field of banking sophisticated, and requires it to provide the field of legislation could create a favorable environment to attract banking technology developed that help supply of foreign funds into the country.
banking expert Samir Nasiri said in an interview (morning): The advancement of the banking sector requires a stop at the regimes of modern banking, pointing to the importance of discussing payment systems applied in the Iraqi Central Bank and the banking systems of modern applied in banks, as well as legislation and means of payment required legal in e-commerce, pointing to the importance of stress to speed up issuing the law of the use of electronic payment systems, which had previously been approved and forwarded to the parliament saying that the law is an urgent need where spread electronic payment systems without that there will be legislation to regulate the process is causing problems with customers, mostly related to the lack of electronic signature led to the suspension of some banks of the process despite the availability of modern systems have.
He added that the absence of legislation to the most important problems of electronic payment systems, but it's not the only challenge there are problems of application and the other executive faced banks after the application of systems of modern banking there are operational risks, where we suffer from Stop at times of the programs in the event of worsening weather conditions as well as liquidity problems at the ATM because of the large cluster size of the Iraqi monetary As a result, we asked for changes to a machine ATM to accommodate larger amounts.
He continued, saying that non-citizen's awareness of the importance of modern banking services and methods of use is a problem extra, which means the need to spread the culture of modern banking through the media, noting that electronic banking is a new service that entered Iraq recently and used depends on the extent shortened the
time and cost, the two component attract two basic and without which it would not accept to serve the citizen or the banks.
He pointed out that the problem basic electronic payment is to ensure that no theft or reproduction of credit card information and ensure that the amount to the desired recipient and therefore, we need laws to implement electronic signatures and encryption technology to ensure the security of transactions.
and about the kinds of electronic payment systems, shape optimization in Iraq, Nasiri: There are three types of systems is a payment in advance, such as credit card and Pay on delivery and payment in advance, such as smart card indicating that the most suitable for the Iraqi situation is the method of payment in advance which can be accomplished via the Internet and can be implemented quickly in contrast to other methods.
for that and added, we recommend urgently the need to coordinate the parties on the institutions of the state, the legislature and banking institutions and (CBI) and the Association of Almtarv and services companies, mobile phones and the Internet with each other and form a central committee to coordinate and build projects, laws and official instructions are suggested to ensure the success of electronic applications and prevent the attempt to breach, fraud and cyber crime, and we recommend to do all banks civil cooperation with the Central Bank of Iraq in the application of payment systems as a leading quick service electronic banking and serves to emphasize the adoption of all private banks and domestic banking systems in line with the developments and modern techniques adopted in the countries of the world
Trade: this year will see a regular distribution of the ration card items
Developed a verification mechanism reduction in purchase prices and quality in the quality
of Baghdad, Qassim Hilfi
said the Ministry of Commerce's plan this year include an end to volatility in the distribution of the ration card items, and development of a mechanism contracted verify a reduction in purchase prices and quality and include the benefit of the company's products of the vegetable oils.
said Director General of Foreign Economic Relations in the Ministry Hashim Mohammed Hatem said in a statement singled out by the «morning» that time the last few years have seen invitations to companies sober specialized in the manufacture of edible oil from the countries of Saudi Arabia and United Arab Emirates, Algeria, Egypt and Turkey, to agree on the mechanisms of the new contractual adopted by the ministry and conducted every three months with manufacturers exclusively and without intermediaries, was agreed with the wish of the processing of materials, the ration card at competitive prices according to international stock markets while ensuring quality in the product after it has formed committees competent to disclose and learn about the plants and the potential of these companies and the quality of its products in collaboration with the Missions of Commerce in Iraqi embassies in those countries, such as what happened recently with the company Arma Egypt that have been agreed with the processing of 25 000 tons, began processed according to the contract and went to the port of Umm Qasr.
and that what processers Egyptian Company is a small percentage of the need for card items annual ranging from 400 450 tons of edible oil, which means not to abandon the contract, which intending the ministry concluded with the General Company for Vegetable Oils, which will be processed under which 10 000 tons per month of the oil and the price of 1850 dollars per ton, higher than world prices, which range between 1600 1650 dollars per ton, and that commitment to the decision of the Secretariat of the Council of Ministers, which ministries committed to purchase products and the Ministry of Industry at a higher price by 20 percent of the prevailing market price to support the plants. He continued that this year will see the elimination of unequal distribution of food and an end to the problem of delay in the arrival of materials to the families, adding that the ministry contracts are too many with major international companies specialized industry, oil and sugar, adding that the new mechanism introduced earlier this year through a contract to supply materials for three months only a hyphen to the ports of the country by the manufacturers directly contributed to the dimensions of the mediators and attract the best processors and shut the door of wasting public money.
reminding that the mechanisms of old were interspersed with many obstacles through the involvement of traders and equipped with non-specialists and non-adoption of world prices as well as non- the delivery of some materials that were processed by Turkish companies to stores the ministry, but offered in the stores in the province of Kurdistan and the ministry moved which adds additional costs and efforts to disrupt the distribution dates specified.
The head of the Foreign Relations, said the company that wins contract to supply seasonal will be required to enter again Kmtnavs in New tours does not grant any preference, as will the issue of import of sugar, which directed the calls to manufacturers wishing to processing according to world prices set by the specialized committees in the Ministry, in cooperation with Mlhakaatna commercial embassies.
He pointed out that to fear the ministry is the fluctuations that are likely take place in the selling prices of materials used in the ration card items because of a wave of snow that hit most countries, particularly the producers of wheat, indicating that the budget allocated to the ministry more than three billion dollars a little, stressing that the need for a billion dollars extra persist in case of any emergency may happen .
revealed that the ministry will open the door to granting new licenses establish mills after it was restricted to a limited number, and stressed that the goal is to create competition between the owners of those mills to contract with the best of them. Source thanks
Kobler calls for enhancing minorities in decision making - statement
2/29/2012 3:59 PM
BAGHDAD / Aswat al-Iraq: UN representative to Iraq Martin Kobler called to enhance the role of minorities in decision making, pointing out that Iraq is rich in its ethnic and religious diversification, which should be preserved and protected to be the motivating force towards democracy in the country. In a UN office statement, received by Aswat al-Iraq, Mr. Kobler received members of Minorities Council in Iraq, where he stressed the importance of decision making by all Iraqi segments. The statement added that "the Minorities Council is non-governmental organization, headed by Mr.
Haneen Qado, comprising of Christian, Shabak, Izidis, Subbis, and Minda'is segments. Kobler expressed keenness to have further meetings with the members of the council, pointing out UN readiness to assist the Iraqi government in protecting all ethnic and religious components in the Iraqi society in a matter coincides with the constitution for their just representation in the political system here. RM (TS)/SR Source
Iraq Presents Billions of Dollars Worth of Business For Indian Companies: Iraq Commerce Minister
Thursday, March 01, 2012
Mumbai: On a special day that comes once in four years, a business and political delegation from Iraq visited India’s business capital Mumbai to interact with the captains of the Indian industry in an exclusive session titled ‘India-Iraq: Unlimited Business Opportunities’ organised by the Confederation of Indian Industry (CII). The mood was buoyant as Iraq, leaving its past behind, is looking ahead at the future with anticipation and is looking for partners to do the same.
“We are in the process of renovating our country. We are in need of everything and we have the money to pay for it. No matter what your sector, we can do business with you,” said H E Dr. Kheer Allah Hassan Babkr, Minister of Trade, Iraq.
He added, “The new government’s focus today is on strengthening economic evolution, enhancing standard of living and reinforcing governance and security in the country. To do this we are looking for business and expertise in a host of industry. Today, because of its huge economic potential, Iraq is the new investment destination for the world in the region. And with the world’s third largest proven oil reserves, we have the money to pay for our own rehabilitation.” http://www.orissadiary.com/ShowBussinessNews.asp?id=32311
Central Bank: the counterfeit currency is a media statements
Posted 28/02/2012 06:56 PM
Detect Iraqi Central Bank Governor of the Bank during the coming period to cancel the zeros of the Iraqi currency in order to absorb the inflation of the Iraqi market as well as reducing the size of the Iraqi currency currently in circulation is an existing project will see the light in the coming days(repeated)
after the completion of it, pointing out that there is an integrated study on the matter and in the final stages of discussions, the decision was taken and must be submitted to the relevant authorities for the purpose of legislation by the House of Representatives and the Council of Ministers.
Dr. Shabibi in an exclusive interview with (the people) shall be published later that the removal of zeros from the Iraqi currency at the moment was inevitable and will contribute to facilitate the work of the government and Atathirat real current economic situation, stressing that it will be canceled three zeros from the current currency will be printed six to seven categories of a new Iraqi cash.
Shabibi said that the central bank supervision and the role of Sergeant on the performance of all government and private banks and is also evaluating its performance on a regular basis which improves the performance of the banking system.
And his view of the federal budget, which passed last week Shabibi noted that it's budget ambition and budget execution properly is the one who will create some sort of supply and which will therefore reduce the rate of inflation happening in the country and not to influence the economic stability and needs to be an act of solidarity significant of all.
And the size of the money presented by the Central Bank in the Iraqi market, said the governor that he was more than 150 dollars Mellon on a daily basis and are purchased by the government and private banks and is subject to constant monitoring and supervision by the Central Bank of Iraq.
On the other hand denied Shabibi the existence of any negative economic impact on the spread of counterfeit currency in the local market in Iraq, noting that the issue of counterfeiting, was given a size bigger than true to size, explaining that the process of fraud are almost non-existent in the market and there was a fraud he is by people specific and does not affect the money supply in the domestic market in any way and that the bank has the financial capacity of the enormous and that through which it can influence a course of the domestic market, saying "We are preparing the largest player in the domestic market
and control the course of events in economic terms, and I confirm that the currency issue false statements to the media is just to change my actual facts and not on the ground and have no real impact on real perspective.SOURCE
Parliaments conference in Kuwait. 29/02/2012 21:14:00Baghdad/ NINA/--Iraqi Parliament Speaker Osama Nujaifi will ahead to Kuwait next Sunday at the head of a parliamentary a delegation to participate in parliamentary conference of Arab parliaments.A source in Najafi office said in a statement to NINA today : " Najafi will participate in the conference to be held in Kuwait on the fourth of next month .The source noted that Najafi will discuss during his visit with Kuwaiti National Assembly head issues related to develop the relationship between their Boards and activation of the previous parliamentary agreements. / End http://ninanews.com/English/News_Details.asp?ar95_VQ=FKFFGJ
Al-Maliki''s prospective visit to Kuwaiti praised
2/29/2012 5:28:00 PM
BAGHDAD, Feb 29 (KUNA) -- The Iraqiya Coalition, led by Iyad Allawi, said on Wednesday it was looking with interest to the visit of Iraqi Prime Minister Nouri Al-Maliki to Kuwait.
The Coalition said in a statement issued by the media adviser Hani Ashour that the Iraqiya Coalition hopes that such visit would contribute to Iraq being able to exit Chapter VII and resolve all outstanding issues between the two countries.
The Iraqiya Coalition hoped that bilateral relations between the two countries would be promoted even further to ensure a brighter future for the two peoples and to forget the past.
The statement also hoped that Iraq exit from chapter VII would ensure that bilateral ties would return to normal.
(end) mhg.tg KUNA 291728 Feb 12NNNN
Iraq Seeks up to $700bn Investment in Infrastructure
Posted on 29 February 2012.
Sami al Araji, chairman of Iraq’s National Investment Commission (NIC), has told a business audience in New Delhi that his country needs $500-$700 billion in investment to rebuild its infrastructure.
Araji compared the opportunities in Iraq to “Germany after the Second World War”, adding, “our message to the world is that we are open for business — there are huge opportunities”.
part of a government delegation urging Indian companies to seek business in Iraq.
Iraqi officials conceded that violence was still a risk for investors, but security was improving in the country, Araji said. “I don’t deny there are security considerations but the situation is much better.”
Analysts say greater stability would encourage a surge of foreign investment into both the oil and non-oil economy.
Dennis Flannery, Iraq country head of global investment bank Citigroup, told the conference that the oil industry will throw up tremendous wealth that will transform Iraq, calling the country a “great frontier opportunity for investors.”
India and Iraq have traditionally enjoyed friendly ties and investment analysts see Indian companies as a natural fit.
Economic growth .. Not increase the export of oil / Adel Abdul Mahdi,
Add your able leadership of the state and social mobilization, a third-based economic growth to establish a strong base to build an integrated system. Iraq is the middle-income countries approaching the average annual per capita income for the (6000) Dolaraam 2012, according to the Central Bank ..
Thus, we classify the world as part of upper middle class's billion with an average annual income (4000-12000) dollars .. Iraqis - in theory - better than (70%) of the inhabitants of the land, totaling (7) billion people who fall for their incomes (4000) dollars. Does this mean that a condition of economic growth? answer is negative .. These statistical figures .. It is a proof of the weakness of economic growth.
Oil accounts for about 70% of the gross national product, compared to an increasing decline of agriculture and industry to reach (3.5%) (1.5%), respectively .. The decline in the share of private sector fixed capital formation to only 7% according to figures of 2008. Economic growth is required not to increase income, the importance, but moving the real sectors and the adoption and development of the country. Encourages his money the easy oil is down and the profit motives of action in the commodity sectors, and lose the justification of its existence. It encourages laziness, unemployment and employment, migration, consumption, import, militarization and arms and corruption, that is deduced entirely from economic growth.
And strengthens the rentier state and the state of charge at the expense of the taxpayers and the state of the citizen .. And encourages social mobilization hostilities closed, fearful inside with the outside .. Not the people-centered and positive relations based on the need for one another .. But centered sense of uniqueness and the ability .. Which gives the legitimacies, institutions and rights concepts and behavior contrary to the emerging nation-building on the foundations of true sustainable. so the importance of transfer of ownership of oil to the people .. And distribution of its resources upon the state to cut oil tax ..
And the formation of investment funds and joint stock companies and the economy. Exports may soon achieve a rate of (5-6) million barrels per day, bringing the average annual per capita income for more than (12000) dollars .. We become high-income countries of the world distinguished statistically .. But in fact, things will continue .. Constantly mindsets and behaviors, especially with the doubling of the population. Remains a high percentage under the poverty line .. And continued deterioration of services, electricity, water, health, education, infrastructure and real sectors, but may continue to import oil derivatives. The evolution of oil revenues and the evolution of something real economy is something else .. I may allow the development of the economy, but it could also destroy. http://ipairaq.com/index.php?name=inner&t=economy&id=51841
"Renewal" (range): Hashemi, ready to meet with Maliki
Date: Thursday, 03.01.2012 9:11
Baghdad / range revealed a block renewal led by Vice President Tareq al-Hashemi, the readiness of the last to interview directly with Prime Minister Nuri al-Maliki in order to resolve some outstanding issues of a political nature, while the quoted show Maliki's desire to settle these differences, except those relating to the side of judicial .
The mass renewal had met last Sunday of Prime Minister Nuri al-Maliki to promote national unity and maintain the prestige of law and independence of the judiciary, as the statement by the owners of the time "There are challenges around us, and we must unite our ranks to confront them," stressing "the need for cooperation between all parties and political entities for the elevation of Iraq and strengthen its unity and stability, "adding that" respect for the law and the independence of the judiciary represent the cornerstone of our system, "calling on everyone to" work to promote that. "
In a later development MP said the mass renewal Ashour Hamid said Prime Minister Nuri al-Maliki expressed his complete flexibility in cooperation and agreement on the issue of Vice President Tareq al-Hashemi on condition of pressure on the judiciary.
described Hamid in a statement to the extent of yesterday, "visit block renewal of Prime Minister Nuri al-Maliki as positive as it calls for the development of practical measures to the current crisis, noting that" the purpose of the visit opened a new page resolve the crises that stand in front of the National Congress as well as making the road impassable in front of the upcoming summit in Baghdad. "
He continued: We have brought us a letter to al-Maliki's willingness Hashemi to hold direct dialogue with him to emerge from the current crisis.
"The mass wants to remove the tensions between the blocks political issue of Vice President Tareq al-Hashemi, adding that "The prime minister expressed his complete flexibility in the cooperation and agreement on condition of pressure on the judiciary, stressing that" talking with the Prime Minister was smoothly high. "
It was close to the al-Maliki had been transferred (range) after finished, "that the meeting was an atmosphere positive and all parties seemed to them satisfaction because they agreed that the Constitution and the law rule in such files."
The Supreme Judicial Council issued on 19 of last December 2011 arrest warrant against Vice President Tareq al-Hashemi and prevent it from travel, also offered to the Ministry of Interior confessions of members of the protection Hashemi implemented a series of armed attacks targeting security personnel and government employees and visitors to the holy shrines, were referred three of them to the judiciary, which will be considered on the third of next May, as it will be his trial and his brother Ahmad Qahtan in absentia, as well as Other elements of protection currently in detention pending investigation http://almadapaper.net/news.php?action=view&id=61013