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Mohammed Saleh: 2014 is not fit to replace the currency, Part #2

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Mohammed Saleh: 2014 is not fit to replace the currency, Part #2

Unread postby admin » Wed Jul 31, 2013 10:18 am

Iraqi economist appearance of Mohammed Saleh’s time to live a dilemma uncontrolled market and the year 2014 is not fit to replace the currency

Posted JULY 31 2013

Walther force sovereign
Does Iraq have sovereign wealth
funds? Iraq does not have sovereign wealth funds, government revenues triple, two-thirds of its revenue conversion to JD disposal wages and salaries internal , and a third remains Foreign Exchange opens it credits for the purposes of trade finance governmental organizations, such as the Ministry of Commerce, to import ration, imports and the Ministry of Electricity, and the Ministry of Health … and the rest goes to the budget of the other, the remaining so-called sovereign wealth fund is simple and so-called stabilization fund as possible evolve to protect the budget fluctuations in oil prices is part of the sovereign wealth funds.
World Bank praises the draft reform of the banking sector in Iraq .. What happened and what its impact on the economic situation in
Iraq? International Monetary Fund (IMF) and the World Bank two financial Pttoiralqtaa meanings in Iraq, and they mean by financial markets, banks, government or private, and the Iraqi market for securities, as a secondary market of the capital market. $ 7 billion and these bonds mostly have been sold in global markets, and now it is in circulation, in the beginning when sold bonds, the dollar was sold for 60 cents and is currently sold at 90 cents and this is an indication that the Iraqi economy is moving in the right direction, as indicative of this increase at the same time , that Iraq is rated credit, which is now the default classification around me cite this rating like Iraq does not have a rated credit currently, but this approach, if Iraq were a credit workbook. The UN Security Council Resolution 1956 on 15 »12» 2010 pointed out that the resolutions of the United Nations ends 30 »6» 2011 No protection to the Development Fund for Iraq if the circumstance is available in this case for every suit that owner-driven. There is an indebtedness less than $ 35 million given them by the Iraqi government of 10 of indebtedness Cash these promising young Aldaúnyen as an indebtedness of some 10 thousand dollars given more than a thousand dollars, a figure approaching the Paris Club terms and calculated according to the financial account at present net The interest rate of 20 extends for 20 years, these reach indebtedness to 4.5 billion turned into $ 450 million and in spite of all that, there are commercial creditors insist on move judicial Bdaawahm to obtain the full debt, because some of them holds a final rule under which decisions as well as the amount of requests .. So Those waiting for opportunities to book the Iraqi funds, wherever you are to sign the booking and execution of obtaining their debts from Iraq. how much the value of these debts that were not subject to compromise and insist their owners to be met in full? these debts are not known, and this moving part not control yet, Valjhat Iraqi Finance have official estimates, which did not disclose for precautionary reasons, the fact that this file has not yet been decided, but personal Ptkadirati, a large amount is no reason to fear him, but the allegations are that arouse fear. There are those plaintiffs who and Cefnahm researchers for a stroke of luck understanding of many. Practically nothing left of them important, partly because it came out of the books of accounts, because companies do not wait for the debt for a period of twenty years, since the statute of limitations accounts after more than 5 years. If my estimation Profile is modest amounts not cause for concern, as there is no country in the world, not by complaints from the private sector to the United States are exposed to it. In Iraq, there is a legal committee at the Ministry of Justice and linked to the Council of Ministers, the relay of foreign debt on Iraq and complaints with the lawyers of international monitors and evaluates the movement of these debts and her secretarial permanent and work is characterized by discipline, they work with high professionalism Financial experts Iraqis, lawyers, and judges from the Ministry of Justice, and wherever move suit is located have a responsibility to refund, responded Iraq a lot of suits pretentious. extent to which the protection remains on Iraqi funds and remains the fear exists? United States and at the request of Iraq, renewed protection of Iraqi funds, other applications will be completed mid-2014, which now There are protecting the funds of the Development Fund for Iraq, which we Nadira and it نشرف, but remained the same mechanism as 5 percentage deducted from each barrel of oil sells for Iraq, the question here is what the nature of the Development Fund for Iraq? Is a bank account normally works according to a mechanism called Opera This account consists of two section loft, and the Department basement, No. upper section enters the oil revenues for the day assigned automatically deducted from the 5 where you go to the Compensation Committee at the United Nations, to shift to Kuwait to pay compensation of $ 52 billion and the remainder of which $ 11 billion at the present time and the proportion of the 95 intervention afternoon in the Development Fund for Iraq in the account opened in the name of the Central Bank of Iraq in the interest of the Republic of Iraq. The reason for this is to request the United Nations calculates Single to pay reparations to Kuwait, now and after coming out of sanctions, Chapter VII, can settle this compensation through bilateral dialogue between Iraq and Kuwait. it is argued This fund was established for the protection of Iraqi funds did not say it belongs to Iraq what your interpretation of this vision ? No, this money belongs to the Republic of Iraq and in my opinion is unlikely it another interpretation, but how we act now with money included in the calculation by the Central Bank of Iraq? For in accordance with resolution 1956 of 12 »5» 2010 funds included in the Development Fund for Iraq are the property of the Republic of Iraq. raised these days, the arguments on the deletion of three zeros from the Iraqi currency against the backdrop of the withdrawal of Iraq from the sanctions of Chapter VII and will have a positive impact numerous and there are those who believe that envelope and timing is appropriate as well as being will provide an opportunity for a broader process of money laundering and smuggling of currency What is your comment? all civilized countries while passing through a transition or a state of intense struggles or runaway inflation, then see the category large financial figure a small value, Iraq moved from the category of 25 dinars year 1980, which equivalent to $ 75, equivalent to 300 thousand dinars at this time, to coin a class of 25 thousand dinars for Atadel only $ 21 at this time and thus become a mass huge cash and figure arithmetic inflation, Iraq moved from OS 9 to OS 12 billion to a trillion .. فالعملة increasing proportion and fit with economic activity and economic growth, if growth continues and Zdadt oil revenues and remained the currency value and composition as such, there is a potential move to the exponent 15 and go on to post-trillion number is the arithmetic then complicated then handles Iraq country Alsgerbalkuantellon .. Question here is monetary policy or reform of management of monetary policy, the reform process is the availability of two conditions first, the availability of economic stability, which is what is happening now, there is economic growth and a large block of foreign currency exchange rate relatively stable and, second, the availability of political stability and political will, the question is whether economic stability exists Are political stability exists? This question is difficult to answer it .. Thus, the process entails repair my account, where deleted three zeros from the currency, and when it will change all books calculations, instead of writing in 1000 would type 1 as well as the need novitiate of the fiscal year, as it begins the general budget, the largest budget in the state, with an expenditure ratio 73 of gross domestic product, Iraq is one of the largest countries in the world by public spending of GDP, we are big countries any larger size of the state in the economy, percentage of spending in the United States Ttrah between 21 to 23 and therefore the state dominance, if such a process to delete the zeros should be start with the beginning of the fiscal year, if we started to change the currency in 1 »1» 2014 timing is appropriate, help the political climate. The answer is, no, because it is an election year parliamentary, and longer years of political stability, and the replacement of the currency in the year 2014 is doubtful. any decision needs to be a historic moment corresponds to the political and economic stability in conjunction with security and stability. all reported as well as the political will in the monetary policy, we need to switch all notebooks calculations, there will be عملتان at the same time, for example, if someone has given you 1000 dinars Stsgelh the new account dinars that will be recorded with the new currency account. The process is very complex, plus assignments historical, as well as data in computers, software numeric calculations all change when traced back to old accounts, it is necessary to delete the three zeros for the purposes of the switch, in a country like Iraq is not easy, to go into so difficult and complicated, need the will and concerted the efforts of technical, political and economic high-class. not deemed necessary by the need at the moment? necessary calculations of the future, and you need to a historic moment, as I said above, but on the fear of counterfeiting and smuggling of currency and intimidation exaggerated size .. I tell you the country of this size from the chaos and instability even place where counterfeiting and smuggling of this magnitude catastrophic? I think it’s exaggerated visions to the fullest extent and not reasonable or logical, why? Is the case of underestimating the ability of Iraqis arrived in this class? It is possible that the violation occurs here or there, but not to this degree of exaggeration. Frankly, may be behind some personal motives to disrupt the project. Question Is that a good time in the next year to the currency exchange say no, but the project optimism, so projects Atnvz only in the country’s currency increases and higher value addition to improved and accelerated economic growth, there is no country in the way of disappearing and seeks to alter the currency, does not offer it, but thought Yoke, in a state with accelerated economic growth and sophisticated. said to cover the currency in Iraq now equals weakness What does that mean? This is part of the philosophy of economic stability required by the replacement process, the pain of deployment above the need of economic stability, monetary stability, فالعملة Iraqi stable, It covered more than doubled, and that’s a good thing. For example, the Central Bank of Iraq could pull all of the Iraqi currency and exchange foreign currency .. This is part of the required stability and growth index and economic development and helps to accomplish such projects. there deputies believe that the high volume of reserves of Iraq from foreign currency to $ 76 billion, as well as 30 tons of gold bullion and out of Iraq from Chapter VII makes it necessary to invest this reserve great while laws Bank does not allow act بالاحتياط Iraqi What is your comment? central bank reserves are part of the philosophy of sovereign wealth funds, but usually dominated this part of liquidity on the yield and when they become exaggerated precautions big it is possible to enter into investments beat the return on liquidity, meaning Economic he enters into financial investments largest, enters in the areas of investment true to some extent, in the scope of thoughtful does not threaten the safety and liquidity of these investments. when this case use of the reserve be wholly or partially? use be partially estimated as needed, central bank reserves are Dean on the central bank by the holders of the Iraqi dinar, other sovereign wealth funds are from the general budget surplus. In countries such as Kuwait and Saudi Arabia have access to funds from oil and gas revenues, beyond their needs, the excess go him to sovereign wealth funds, as يغلبون its return on liquidity, for example, enter into real estate investments and other … and call it a recipe diversification of financial, process diversity of financial inside if you can not invest agricultural and industrial invest in sovereign wealth funds like you invested in the sector investment real in other countries. not fear these funds from the financial and administrative corruption? here the question, you need to manage external financial professional efficient, and the IMF has the committee permanent For guidance on SWFs, where there are 30 countries in the world have sovereign wealth funds. Walther force sovereign Does Iraq have sovereign wealth funds? Iraq does not have sovereign wealth funds, government revenues triple, two-thirds of its revenue conversion to JD disposal wages and salaries internal , and a third remains Foreign Exchange opens it credits for the purposes of trade finance governmental organizations, such as the Ministry of Commerce, to import ration, imports and the Ministry of Electricity, and the Ministry of Health … and the rest goes to the budget of the other, the remaining so-called sovereign wealth fund is simple and so-called stabilization fund as possible evolve to protect the budget fluctuations in oil prices is part of the sovereign wealth funds. World Bank praises the draft reform of the banking sector in Iraq .. What happened and what its impact on the economic situation in Iraq? International Monetary Fund (IMF) and the World Bank two financial Pttoiralqtaa meanings in Iraq, and they mean by financial markets, banks, government or private, and the Iraqi market for securities, as a secondary market of the capital market. The theme of praise, they sometimes seem negative feedback on the performance of banks, but this does not mean that this sector does not evolve and not the level of ambition, and it is not unreasonable to banking and financial sector has not developed, the number of accounts increased and prepare branches proliferated, and then trade the private sector foreign funded and managed by Why this lightly? The only sector is the banking sector, which operates and drives the market and despite all the disadvantages frankly, is the most active in the country there is a stark and exaggerations infringement on the private banking sector, but this Ayafah of some of the problems and abuses, is on track with some irregularities, but it steerable and treatment through the accumulation of expertise and experience .. Generally are things natural and errors occur in all countries of the world and it’s not catastrophic, the banking sector is more sector has witnessed the transition towards market liberalism in Iraq,
the Iraqi Central Bank Asdrtalimat in 2012 enables the private banks from importing foreign currency, including the dollar, it has the right to import is not his right to sell
? Yeah, right .. Occurred experience at the time banks made ​​a request because of the scarcity b Cache Why not نستورده We, the applications in the world exist, particularly for the purposes of tourism, in Iraq, the Iraqi Central Bank alone selling dollars cash with it ended the subject and published in the Official Gazette Iraqi instructions in the middle of last year whereby banks Iraqi civil after scrutiny by the Council of State, Import Foreign Exchange from its reserves or assets outside of Iraq, but with conditions that pass through the monetary authority, and the vets and those who sold a measures to combat money laundering, there are instructions issued by the facts of Iraq, join this work, but under the bank is selling dollars to banks.
Could you explain to us the difference between the concept of money laundering, smuggling of
funds? Iraq under the Convention on the International Monetary Fund and in accordance with resolution 1483, which demanded that Iraq return of normalcy to the International Monetary Fund and the World Bank Hrralhassab current balance of payments, which means the balance of goods and services and transfers from one end of any restrictions and the right of any individual to import whatever he wants and issued what he wants without any restrictions, so the Iraqi Central Bank canceled the control circuit on foreign exchange, and canceled all the instructions that restrict foreign remittances, and set up for it the Anti-Money Laundering . It is your right to be converted for the purposes of claiming to be for trade, provided that such funds clean subject to Law No. 93 of 2004 the law against money laundering and funds crime and terrorism and established a department to combat money laundering within the central bank and founded a department to combat money laundering in banks and other outside banks, in security At the national Interior Ministry and Interpol .. Cooperate with each other to combat money laundering. Money laundering means there money is being handled at home or abroad, the money resulting from a crime such as money selling drugs or arms trading funds .. And a long series widescreen other methods of money laundering.
question here is, do in Iraq are allowed to Capital Inc. to invest abroad any outside Hadhanth national, for example you could Iraqi investor to come out million to invest outside Iraq, in Sudan or buy a factory in Somalia Are you allowed him to do so? This question no one answers, you Iraq Hrrahsab the capital of the balance of payments or did not free him? There is no answer. So who wants out his money invoked the import and trade grounds, out of money and this behavior falls within the smuggling of money .. It exaggerate the list price and in this way avoid funds.
in the overall context of the Iraqi state and the constitution of the Iraqi economy is a market economy, but in government departments and institutions is going on according to your established the Mmarst centralized economy where the identity of Iraq’s
economic? what is happening problems and Barriers due large part to the trends Central thought, because we are not clear in our economic policy, so our weak economic identity. We do in fact live uncontrollable market predicament. The Iraqi government should consider two things, considering the subject of the Iraqi capital, and pass a law for the introduction of the Iraqi capital and protection, and the issuance of a law regulating the exit properly protected. There is nothing wrong if he wishes Iraqi businessman to come out million dollars to build a factory, for example, in Somalia under the supervision of the government, and converts a part of the profits and pay tax to the Iraqi government, nothing wrong in it for what we call the entry of capital into Iraq, and do not allow the Iraqi capital to invest abroad .
what kind of interest that accrue to Iraq from the Iraqi investment abroad and the protection of capital
inflows? such freedom would pay the heads of Iraqi funds abroad, to come to Iraq, when reassures capital free entry and exit of capital, which allows the creation of an investment climate that comfortable, but this climate Economic repressive present in Iraq and in this way teeming with concerns, and proposals such as that comes out of capital will not return, when that will not come capital of Iraq on according to how laws expelling of capital, and thus we have contributed over the current laws to expel the capital.
smuggling money to the outside
there is money out and no longer do you
comment? This is true, but to say exaggerated, today there is money out through money laundering, the source of criminal offenses and these issues Nlahakha We as well as international law, no there is international cooperation in this field is limited and can not be overstated.
more year profit opportunity today is in Iraq, it is not logical to take out money from Iraq and betting opportunities are scarce and research about the benefits of a simple reach 1, you will starve to death, the question of any crazy out money from Iraq, leaving profit opportunities enormous Aikarf curve that does not have a semi in any country in the world where the commercial market is open and profit margins are enormous, generally those traders their money out and back, but they fear فيبقون part of their money in foreign banks, يتحوطون as تسكنهم some concerns, such as tomorrow there is no money stopped transfers and according to the unstable security situation, they do not reassured This is part of a little of it while the bulk of $ 85 is an investor in the trade The 15 remaining are رجراجة, فالمسيحي who deserted from Iraq must escape his money to buy him a house there and this case applies to more than three million Iraqis migrated or abandonment of Iraq They certainly They have well and money properties .. How they described? How Iraqis lived in Syria after the change and the events of 2005 and 2006? Then there are transformations taking place across the Rafidain Bank for retirees.
on according to economic growth happening and fulfill Iraq’s international obligations Is it possible to classify the Iraq
credit? opportunity is available it is possible to enter Iraq classification credit and starts bonds sold in the international markets, it can give a picture of the economic situation in Iraq any credit worthiness of Iraq, especially after we are out of Chapter VII and across can get credit rating.
AZP02 the $ 7 billion and these bonds mostly have been sold in global markets, and now it is in circulation, in the beginning when sold bonds, the dollar was sold for 60 cents and is currently sold at 90 cents and this is an indication that the Iraqi economy is moving in the right direction, as indicative of this increase at the same time , that Iraq is rated credit, which is now the default classification around me cite this rating like Iraq does not have a rated credit currently, but this approach, if Iraq were a credit workbook. The UN Security Council Resolution 1956 on 15 »12» 2010 pointed out that the resolutions of the United Nations ends 30 »6» 2011 No protection to the Development Fund for Iraq if the circumstance is available in this case for every suit that owner-driven. There is an indebtedness less than $ 35 million given them by the Iraqi government of 10 of indebtedness Cash these promising young Aldaúnyen as an indebtedness of some 10 thousand dollars given more than a thousand dollars, a figure approaching the Paris Club terms and calculated according to the financial account at present net The interest rate of 20 extends for 20 years, these reach indebtedness to 4.5 billion turned into $ 450 million and in spite of all that, there are commercial creditors insist on move judicial Bdaawahm to obtain the full debt, because some of them holds a final rule under which decisions as well as the amount of requests .. So Those waiting for opportunities to book the Iraqi funds, wherever you are to sign the booking and execution of obtaining their debts from Iraq. how much the value of these debts that were not subject to compromise and insist their owners to be met in full? these debts are not known, and this moving part not control yet, Valjhat Iraqi Finance have official estimates, which did not disclose for precautionary reasons, the fact that this file has not yet been decided, but personal Ptkadirati, a large amount is no reason to fear him, but the allegations are that arouse fear. There are those plaintiffs who and Cefnahm researchers for a stroke of luck understanding of many. Practically nothing left of them important, partly because it came out of the books of accounts, because companies do not wait for the debt for a period of twenty years, since the statute of limitations accounts after more than 5 years. If my estimation Profile is modest amounts not cause for concern, as there is no country in the world, not by complaints from the private sector to the United States are exposed to it. In Iraq, there is a legal committee at the Ministry of Justice and linked to the Council of Ministers, the relay of foreign debt on Iraq and complaints with the lawyers of international monitors and evaluates the movement of these debts and her secretarial permanent and work is characterized by discipline, they work with high professionalism Financial experts Iraqis, lawyers, and judges from the Ministry of Justice, and wherever move suit is located have a responsibility to refund, responded Iraq a lot of suits pretentious. extent to which the protection remains on Iraqi funds and remains the fear exists? United States and at the request of Iraq, renewed protection of Iraqi funds, other applications will be completed mid-2014, which now There are protecting the funds of the Development Fund for Iraq, which we Nadira and it نشرف, but remained the same mechanism as 5 percentage deducted from each barrel of oil sells for Iraq, the question here is what the nature of the Development Fund for Iraq? Is a bank account normally works according to a mechanism called Opera This account consists of two section loft, and the Department basement, No. upper section enters the oil revenues for the day assigned automatically deducted from the 5 where you go to the Compensation Committee at the United Nations, to shift to Kuwait to pay compensation of $ 52 billion and the remainder of which $ 11 billion at the present time and the proportion of the 95 intervention afternoon in the Development Fund for Iraq in the account opened in the name of the Central Bank of Iraq in the interest of the Republic of Iraq. The reason for this is to request the United Nations calculates Single to pay reparations to Kuwait, now and after coming out of sanctions, Chapter VII, can settle this compensation through bilateral dialogue between Iraq and Kuwait. it is argued This fund was established for the protection of Iraqi funds did not say it belongs to Iraq what your interpretation of this vision ? No, this money belongs to the Republic of Iraq and in my opinion is unlikely it another interpretation, but how we act now with money included in the calculation by the Central Bank of Iraq? For in accordance with resolution 1956 of 12 »5» 2010 funds included in the Development Fund for Iraq are the property of the Republic of Iraq. raised these days, the arguments on the deletion of three zeros from the Iraqi currency against the backdrop of the withdrawal of Iraq from the sanctions of Chapter VII and will have a positive impact numerous and there are those who believe that envelope and timing is appropriate as well as being will provide an opportunity for a broader process of money laundering and smuggling of currency What is your comment? all civilized countries while passing through a transition or a state of intense struggles or runaway inflation, then see the category large financial figure a small value, Iraq moved from the category of 25 dinars year 1980, which equivalent to $ 75, equivalent to 300 thousand dinars at this time, to coin a class of 25 thousand dinars for Atadel only $ 21 at this time and thus become a mass huge cash and figure arithmetic inflation, Iraq moved from OS 9 to OS 12 billion to a trillion .. فالعملة increasing proportion and fit with economic activity and economic growth, if growth continues and Zdadt oil revenues and remained the currency value and composition as such, there is a potential move to the exponent 15 and go on to post-trillion number is the arithmetic then complicated then handles Iraq country Alsgerbalkuantellon .. Question here is monetary policy or reform of management of monetary policy, the reform process is the availability of two conditions first, the availability of economic stability, which is what is happening now, there is economic growth and a large block of foreign currency exchange rate relatively stable and, second, the availability of political stability and political will, the question is whether economic stability exists Are political stability exists? This question is difficult to answer it .. Thus, the process entails repair my account, where deleted three zeros from the currency, and when it will change all books calculations, instead of writing in 1000 would type 1 as well as the need novitiate of the fiscal year, as it begins the general budget, the largest budget in the state, with an expenditure ratio 73 of gross domestic product, Iraq is one of the largest countries in the world by public spending of GDP, we are big countries any larger size of the state in the economy, percentage of spending in the United States Ttrah between 21 to 23 and therefore the state dominance, if such a process to delete the zeros should be start with the beginning of the fiscal year, if we started to change the currency in 1 »1» 2014 timing is appropriate, help the political climate. The answer is, no, because it is an election year parliamentary, and longer years of political stability, and the replacement of the currency in the year 2014 is doubtful. any decision needs to be a historic moment corresponds to the political and economic stability in conjunction with security and stability. all reported as well as the political will in the monetary policy, we need to switch all notebooks calculations, there will be عملتان at the same time, for example, if someone has given you 1000 dinars Stsgelh the new account dinars that will be recorded with the new currency account. The process is very complex, plus assignments historical, as well as data in computers, software numeric calculations all change when traced back to old accounts, it is necessary to delete the three zeros for the purposes of the switch, in a country like Iraq is not easy, to go into so difficult and complicated, need the will and concerted the efforts of technical, political and economic high-class. not deemed necessary by the need at the moment? necessary calculations of the future, and you need to a historic moment, as I said above, but on the fear of counterfeiting and smuggling of currency and intimidation exaggerated size .. I tell you the country of this size from the chaos and instability even place where counterfeiting and smuggling of this magnitude catastrophic? I think it’s exaggerated visions to the fullest extent and not reasonable or logical, why? Is the case of underestimating the ability of Iraqis arrived in this class? It is possible that the violation occurs here or there, but not to this degree of exaggeration. Frankly, may be behind some personal motives to disrupt the project. Question Is that a good time in the next year to the currency exchange say no, but the project optimism, so projects Atnvz only in the country’s currency increases and higher value addition to improved and accelerated economic growth, there is no country in the way of disappearing and seeks to alter the currency, does not offer it, but thought Yoke, in a state with accelerated economic growth and sophisticated. said to cover the currency in Iraq now equals weakness What does that mean? This is part of the philosophy of economic stability required by the replacement process, the pain of deployment above the need of economic stability, monetary stability, فالعملة Iraqi stable, It covered more than doubled, and that’s a good thing. For example, the Central Bank of Iraq could pull all of the Iraqi currency and exchange foreign currency .. This is part of the required stability and growth index and economic development and helps to accomplish such projects. there deputies believe that the high volume of reserves of Iraq from foreign currency to $ 76 billion, as well as 30 tons of gold bullion and out of Iraq from Chapter VII makes it necessary to invest this reserve great while laws Bank does not allow act بالاحتياط Iraqi What is your comment? central bank reserves are part of the philosophy of sovereign wealth funds, but usually dominated this part of liquidity on the yield and when they become exaggerated precautions big it is possible to enter into investments beat the return on liquidity, meaning Economic he enters into financial investments largest, enters in the areas of investment true to some extent, in the scope of thoughtful does not threaten the safety and liquidity of these investments. when this case use of the reserve be wholly or partially? use be partially estimated as needed, central bank reserves are Dean on the central bank by the holders of the Iraqi dinar, other sovereign wealth funds are from the general budget surplus. In countries such as Kuwait and Saudi Arabia have access to funds from oil and gas revenues, beyond their needs, the excess go him to sovereign wealth funds, as يغلبون its return on liquidity, for example, enter into real estate investments and other … and call it a recipe diversification of financial, process diversity of financial inside if you can not invest agricultural and industrial invest in sovereign wealth funds like you invested in the sector investment real in other countries. not fear these funds from the financial and administrative corruption? here the question, you need to manage external financial professional efficient, and the IMF has the committee permanent For guidance on SWFs, where there are 30 countries in the world have sovereign wealth funds. Walther force sovereign Does Iraq have sovereign wealth funds? Iraq does not have sovereign wealth funds, government revenues triple, two-thirds of its revenue conversion to JD disposal wages and salaries internal , and a third remains Foreign Exchange opens it credits for the purposes of trade finance governmental organizations, such as the Ministry of Commerce, to import ration, imports and the Ministry of Electricity, and the Ministry of Health … and the rest goes to the budget of the other, the remaining so-called sovereign wealth fund is simple and so-called stabilization fund as possible evolve to protect the budget fluctuations in oil prices is part of the sovereign wealth funds. World Bank praises the draft reform of the banking sector in Iraq .. What happened and what its impact on the economic situation in Iraq? International Monetary Fund (IMF) and the World Bank two financial Pttoiralqtaa meanings in Iraq, and they mean by financial markets, banks, government or private, and the Iraqi market for securities, as a secondary market of the capital market. The theme of praise, they sometimes seem negative feedback on the performance of banks, but this does not mean that this sector does not evolve and not the level of ambition, and it is not unreasonable to banking and financial sector has not developed, the number of accounts increased and prepare branches proliferated, and then trade the private sector foreign funded and managed by Why this lightly? The only sector is the banking sector, which operates and drives the market and despite all the disadvantages frankly, is the most active in the country there is a stark and exaggerations infringement on the private banking sector, but this Ayafah of some of the problems and abuses, is on track with some irregularities, but it steerable and treatment through the accumulation of expertise and experience .. Generally are things natural and errors occur in all countries of the world and it’s not catastrophic, the banking sector is more sector has witnessed the transition towards market liberalism in Iraq, the Iraqi Central Bank Asdrtalimat in 2012 enables the private banks from importing foreign currency, including the dollar, it has the right to import is not his right to sell ? Yeah, right .. Occurred experience at the time banks made ​​a request because of the scarcity b Cache Why not نستورده We, the applications in the world exist, particularly for the purposes of tourism, in Iraq, the Iraqi Central Bank alone selling dollars cash with it ended the subject and published in the Official Gazette Iraqi instructions in the middle of last year whereby banks Iraqi civil after scrutiny by the Council of State, Import Foreign Exchange from its reserves or assets outside of Iraq, but with conditions that pass through the monetary authority, and the vets and those who sold a measures to combat money laundering, there are instructions issued by the facts of Iraq, join this work, but under the bank is selling dollars to banks. Could you explain to us the difference between the concept of money laundering, smuggling of funds? Iraq under the Convention on the International Monetary Fund and in accordance with resolution 1483, which demanded that Iraq return of normalcy to the International Monetary Fund and the World Bank Hrralhassab current balance of payments, which means the balance of goods and services and transfers from one end of any restrictions and the right of any individual to import whatever he wants and issued what he wants without any restrictions, so the Iraqi Central Bank canceled the control circuit on foreign exchange, and canceled all the instructions that restrict foreign remittances, and set up for it the Anti-Money Laundering . It is your right to be converted for the purposes of claiming to be for trade, provided that such funds clean subject to Law No. 93 of 2004 the law against money laundering and funds crime and terrorism and established a department to combat money laundering within the central bank and founded a department to combat money laundering in banks and other outside banks, in security At the national Interior Ministry and Interpol .. Cooperate with each other to combat money laundering. Money laundering means there money is being handled at home or abroad, the money resulting from a crime such as money selling drugs or arms trading funds .. And a long series widescreen other methods of money laundering. question here is, do in Iraq are allowed to Capital Inc. to invest abroad any outside Hadhanth national, for example you could Iraqi investor to come out million to invest outside Iraq, in Sudan or buy a factory in Somalia Are you allowed him to do so? This question no one answers, you Iraq Hrrahsab the capital of the balance of payments or did not free him? There is no answer. So who wants out his money invoked the import and trade grounds, out of money and this behavior falls within the smuggling of money .. It exaggerate the list price and in this way avoid funds. in the overall context of the Iraqi state and the constitution of the Iraqi economy is a market economy, but in government departments and institutions is going on according to your established the Mmarst centralized economy where the identity of Iraq’s economic? what is happening problems and Barriers due large part to the trends Central thought, because we are not clear in our economic policy, so our weak economic identity. We do in fact live uncontrollable market predicament. The Iraqi government should consider two things, considering the subject of the Iraqi capital, and pass a law for the introduction of the Iraqi capital and protection, and the issuance of a law regulating the exit properly protected. There is nothing wrong if he wishes Iraqi businessman to come out million dollars to build a factory, for example, in Somalia under the supervision of the government, and converts a part of the profits and pay tax to the Iraqi government, nothing wrong in it for what we call the entry of capital into Iraq, and do not allow the Iraqi capital to invest abroad . what kind of interest that accrue to Iraq from the Iraqi investment abroad and the protection of capital inflows? such freedom would pay the heads of Iraqi funds abroad, to come to Iraq, when reassures capital free entry and exit of capital, which allows the creation of an investment climate that comfortable, but this climate Economic repressive present in Iraq and in this way teeming with concerns, and proposals such as that comes out of capital will not return, when that will not come capital of Iraq on according to how laws expelling of capital, and thus we have contributed over the current laws to expel the capital. smuggling money to the outside there is money out and no longer do you comment? This is true, but to say exaggerated, today there is money out through money laundering, the source of criminal offenses and these issues Nlahakha We as well as international law, no there is international cooperation in this field is limited and can not be overstated. more year profit opportunity today is in Iraq, it is not logical to take out money from Iraq and betting opportunities are scarce and research about the benefits of a simple reach 1, you will starve to death, the question of any crazy out money from Iraq, leaving profit opportunities enormous Aikarf curve that does not have a semi in any country in the world where the commercial market is open and profit margins are enormous, generally those traders their money out and back, but they fear فيبقون part of their money in foreign banks, يتحوطون as تسكنهم some concerns, such as tomorrow there is no money stopped transfers and according to the unstable security situation, they do not reassured This is part of a little of it while the bulk of $ 85 is an investor in the trade The 15 remaining are رجراجة, فالمسيحي who deserted from Iraq must escape his money to buy him a house there and this case applies to more than three million Iraqis migrated or abandonment of Iraq They certainly They have well and money properties .. How they described? How Iraqis lived in Syria after the change and the events of 2005 and 2006? Then there are transformations taking place across the Rafidain Bank for retirees. on according to economic growth happening and fulfill Iraq’s international obligations Is it possible to classify the Iraq credit? opportunity is available it is possible to enter Iraq classification credit and starts bonds sold in the international markets, it can give a picture of the economic situation in Iraq any credit worthiness of Iraq, especially after we are out of Chapter VII and across can get credit rating. AZP02 the What kind of interest that accrue to Iraq from the Iraqi investment abroad and the protection of capital inflows? such freedom would pay the heads of Iraqi funds abroad, to come to Iraq, when reassures capital free entry and exit of capital, which allows the creation of an investment climate that comfortable, but this economic climate repressive present in Iraq and in this way teeming with concerns, and proposals such as that comes out of capital will not return, when that will not come capital of Iraq on according to how laws expelling of capital, and thus we have contributed over the current laws to expel the capital. smuggling money abroad There is money out and no longer do you comment? This is true, but to say exaggerated, today there is money out over money laundering, the source of criminal offenses and these issues Nlahakha We as well as international law, ie there is international cooperation in this field is limited and can not be overstated. general profit opportunity today is in Iraq, it is not logical to take out money from Iraq and betting opportunities are scarce and research about the benefits of a simple reach 1, you will starve to death, the question of any crazy out money from Iraq, leaving profit opportunities enormous Aikarf curve that does not have a sub in any country in a world where the commercial market is open and profit margins are enormous, generally those traders their money out and back, but they fear فيبقون part of their money in foreign banks, يتحوطون as تسكنهم some concerns, such as tomorrow there is no money stopped transfers and according to the unstable security situation, they do not reassured and this Part little of it while the bulk of $ 85 is an investor in the trade The 15 remaining are رجراجة, فالمسيحي who deserted from Iraq must escape his money to buy him a house there and this case applies to more than three million Iraqis migrated or abandonment of Iraq They certainly have well and money properties .. How they described? How Iraqis lived in Syria after the change and the events of 2005 and 2006? Then there are transformations taking place across the Rafidain Bank for retirees. on according to economic growth happening and fulfill Iraq’s international obligations Is it possible to classify the Iraq credit? opportunity is available it is possible to enter Iraq classification credit and starts bonds sold in the international markets, it can give a picture of the economic situation in Iraq any credit worthiness of Iraq, especially after we are out of Chapter VII and across can get credit rating. AZP02 the What kind of interest that accrue to Iraq from the Iraqi investment abroad and the protection of capital inflows? such freedom would pay the heads of Iraqi funds abroad, to come to Iraq, when reassures capital free entry and exit of capital, which allows the creation of an investment climate that comfortable, but this economic climate repressive present in Iraq and in this way teeming with concerns, and proposals such as that comes out of capital will not return, when that will not come capital of Iraq on according to how laws expelling of capital, and thus we have contributed over the current laws to expel the capital. smuggling money abroad There is money out and no longer do you comment? This is true, but to say exaggerated, today there is money out over money laundering, the source of criminal offenses and these issues Nlahakha We as well as international law, ie there is international cooperation in this field is limited and can not be overstated. general profit opportunity today is in Iraq, it is not logical to take out money from Iraq and betting opportunities are scarce and research about the benefits of a simple reach 1, you will starve to death, the question of any crazy out money from Iraq, leaving profit opportunities enormous Aikarf curve that does not have a sub in any country in a world where the commercial market is open and profit margins are enormous, generally those traders their money out and back, but they fear فيبقون part of their money in foreign banks, يتحوطون as تسكنهم some concerns, such as tomorrow there is no money stopped transfers and according to the unstable security situation, they do not reassured and this Part little of it while the bulk of $ 85 is an investor in the trade The 15 remaining are رجراجة, فالمسيحي who deserted from Iraq must escape his money to buy him a house there and this case applies to more than three million Iraqis migrated or abandonment of Iraq They certainly have well and money properties .. How they described? How Iraqis lived in Syria after the change and the events of 2005 and 2006? Then there are transformations taking place across the Rafidain Bank for retirees. on according to economic growth happening and fulfill Iraq’s international obligations Is it possible to classify the Iraq credit? opportunity is available it is possible to enter Iraq classification credit and starts bonds sold in the international markets, it can give a picture of the economic situation in Iraq any credit worthiness of Iraq, especially after we are out of Chapter VII and across can get credit rating. AZP02 the

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