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Tuesday, June 30, 2015

OOTW News & Comments: Parliament Agenda

Post From Wealthwatch.world Chat Room -- 6-30-15 AM

[10:01:58 AM] Donnie: Kirkuk : thwarted plot to blow up a mosque-like Kuwait and Al-Saadoun was arrested in coordination with us Tuesday June 30, 2015 15:25

[10:02:01 AM] Donnie: Alsumaria News / Kirkuk, stressed the governor of Kirkuk, Najm al-Din Karim , Tuesday, that the forces of the Patriotic Union of Kurdistan (PUK) had foiled a plot to blow up a Shiite shrine Arafa north of the province similar to the bombing of a mosque Kuwait , 

among the arrest of the leadership of a member of Qatar Iraq's ousted Baath party Abdel Baqi al-Saadoun took place between the intelligence service and police to coordinate the province. Karim said in an interview with a number of media including Alsumaria News , 

"The anti-terrorism forces of the Patriotic Union of Kurdistan possessed intelligence information about the existence of the scheme to target the Shiite shrine Arafa suicide bombing terrorist and secured the area and evacuation of the population," explaining that "when it came The terrorist was addressing him with his foot injury and then blew himself up without there be any casualties or damage. "
~~~
[10:02:16 AM] jarhead: ‹@Donnie› ur good lol

[10:02:17 AM] Donnie: http://ift.tt/1R2e0X5...

http://ift.tt/1T1YGas

[10:02:46 AM] Donnie: ‹@jarhead› like that huh? lol

 [10:25:22 AM] whitelions: You know I just had a thought what if Abadi and all his supporters well the trusted ones are putting the heat on Maliki and his supporters through threat of jail and worse just to get them to pass all the laws they are fighting now ? What do you people think?

[10:33:27 AM] whitelions: what is everybody under a gag order in here lol it's just a question

[10:34:21 AM] whitelions: thank you Donnie

[10:34:29 AM] Donnie: i don't think too many people are here now - at least not that i've seen

[10:37:35 AM] whitelions: O well I'll come back and ask again when the room is moving , I'm posting and the news today is all about everybody coming together and making Iraq strong thats what gave me the idea that what we may be seeing is a way to get SOL in line the way thay got M out of office by manipulation

[10:38:05 AM] Donnie: Cultivation of Kurdistan : We controlled the bird flu epidemic and we will import poultry from Turkey Tuesday June 30, 2015 13:22

[10:38:08 AM] Donnie: Alsumaria News / Erbil announced and Ministry of the cultivation of the territory of the the Kurdistan , Tuesday, its control over the and B. bird flu, affirming that she will open the border crossings in front of the import of the Turkish Poultry the production of. and said and Minister of the cultivation of the Provinciarum Abdul Sattar glorious in a press conference held today, in Erbil and attended by Alsumaria News, he was "been control of the virus H5N not recorded any new cases in the past month in the Kurdistan region , "hoping to" terminate the entire epidemic. "

[10:39:01 AM] Donnie: read the rest here: http://ift.tt/1R2e0X5...

http://ift.tt/1R2e3Cg

 [10:41:49 AM] Donnie: Babylon demanding the Council of Ministers the need to to expedite by issuing instructions the implementation of projects on credit The editor Haidar glorious - Tuesday June 30th, 2015 4:44 p.m.

[10:42:13 AM] Donnie: Alsumaria News / Babylon student First Deputy Governor of Babylon and Sam Aslan, Tuesday, Council of Ministers the need to to expedite in the issuance of instructions for the implementation of plans and projects on credit, indicating that the the needs of citizens of services and embarrassments the financial obligations of projects are under implementation have made ​​the local government in the development of "I do not an enviable".

and said Aslan in an interview with Alsumaria News , "The cash flow is the most prominent of our suffering in the province due to the financial crisis experienced by the country," noting that "all preservation projects currently parked."

[10:42:40 AM] Donnie: read more here: http://ift.tt/1R2e0X5...

http://ift.tt/1R2e0X7

[11:21:37 AM] whitelions: OMG Donnie your not going to believe this look at what I just found

[11:21:55 AM] whitelions: :laughing:  lol lol lol

[11:22:03 AM] whitelions: A coalition of state law confirms that the idle important laws to be approved in the next legislative term... Tomorrow Press / Baghdad confirmed a coalition of state law, Tuesday, that the next legislative term of the House of Representatives will be the adoption of important laws such as broken National Guard general amnesty and social security. http://ift.tt/1ewhcZN....

http://ift.tt/1T1YGaw

[11:22:49 AM] whitelions: talk about getting in line

 [11:23:40 AM] Dianne777: ‹@whitelions› ‹@whitelions› r we there yet?

[11:24:42 AM] whitelions: ‹@Dianne777› we may be closer than we were yesterday lol

[11:24:52 AM] Dianne777: lol

[11:26:12 AM] whitelions: time to clean the house come on rv I need a maid

[11:35:19 AM] Sam: ‹@whitelions› YES looks like a great thing... right???

[11:38:09 AM] OOTW: The agenda of the session number (2) Thursday 2 July 2015 July 2, 2015 First, read verses from the Koran. Second: Hosting Mr. Deputy Prime Minister, Mr. Bahaa al-Araji, to discuss issues related to energy and electricity. (Only one hour).

Third: The first reading of the draft law on ratification of the Republic of Iraq to the Statute of the Council of the Arab Peace and Security Act. ( Committee on Foreign Relations , the Committee on Security and Defense ), (2 article).

Fourth: The first reading of the draft ratification Istisna'a loan agreement and the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank Convention on the Law. ( Foreign Relations Committee , the Finance Committee ), (2 article).

Fifth: the second reading of the draft law amending the compulsory insurance of car accidents Law No. (52) for the year 1980 ( the Finance Committee , for security and defense committee , the Commission on oil and energyand natural resources), (4 items).

Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee ), (16 articles). Session start time: one in the afternoon http://ift.tt/1R2e3Ci...

[11:38:25 AM] OOTW: "Sixth: The second reading of the draft Islamic Banking Act. ( Finance Committee , the Committee of Religious Endowments and Religious Affairs , the Legal Committee )"

[11:39:32 AM] OOTW: Fourth: The first reading of the draft ratification Istisna'a loan agreement and the law of ratification agency Istisna'a between the Government of the Republic of Iraq and the Islamic Development Bank Convention on the Law.

[11:42:11 AM] OOTW: Purpose of Financing under Istisna'a and Back-to-Back Contracts: Given the mammoth changes in the volume and value of the projects necessitated by the development drives undertaken by governments or such other projects assigned to the private sector,

and in view of the lack of liquidity and insufficient financing sources in addition to lack of expertise needed, a sore need has arisen for a new form of Islamic compliant financing.

Thus, Istisna'a became one of the sale contracts which could be used by Islamic banks to meet the needs and requirements of individuals and organizations which can not be financed through other sale contracts; Under Istisna'a financing contract, the underlying commodity is manufactured and the price is paid on forward basis or on installments, depending on the Istisna'a requester (the customer) and the consent of the manufacturer (the bank).

Scope of Applications: Examples of Istisna'a contracts, which may be used for the community welfare, include infrastructure projects such as construction of roads, schools, hospital, buildings, power and other facilities, in addition to myriad contracts such as manufacturing of aircrafts, vehicles and ships.

It would have been difficult for the sponsors/ owners of such projects to find other suitable financing alternatives. Parties of Istisna'a Contract:

1- Istisna'a requester: is the buyer (owner of the project)

2- Manufacturer: is the bank (seller/producer) which enters into contract with the Istisna' requester and commits itself to provide the subject commodity.

3- Contractor: is the seller, contractor or actual contractor, which concludes the back-to-back contract with the bank and starts manufacturing or construction of the subject commodity.

It is the bank's sub-contractor or supplier. 4- Product: is the commodity defined and contracted to be manufactured.

The bank is considered to be the manufacturer and principal contractor vis-à-vis the Istisna'a requester who is the owner vis-à-vis the contractor in the second contract (back to ba

[11:44:07 AM] OOTW: BACK TO BACK FINANCING REGULATIONS UNDER SHARIAH TERMS

[11:44:12 AM] OOTW: Istisna'a and Back-to-Back Istisna'a Finance: It is no more acceptable for Islamic banks to provide finance to government sponsored projects in forms abhorrent to their articles of associations nor is acceptable for an Islamic bank to finance private sector projects by way of interest free loans.

Therefore, Istisna'a has been rendered to be the most appropriate Sharia and business form to finance infrastructure projects, manufacturing aircrafts, construction of power stations, buildings, and equipments, which have to be completed on need basis.

Hence, there arises the importance of Istisna'a contract as a financing tool, which is a contract that allows the sale of a commodity that does not exist at the time of contracting, while payment can be made on spot or deferred basis.

[11:44:51 AM] OOTW: Purpose of Financing under Istisna'a and Back-to-Back Contracts: Given the mammoth changes in the volume and value of the projects necessitated by the development drives undertaken by governments or such other projects assigned to the private sector, and in view of the lack of liquidity and insufficient financing sources in addition to lack of expertise needed, a sore need has arisen for a new form of Islamic compliant financing.

Thus, Istisna'a became one of the sale contracts which could be used by Islamic banks to meet the needs and requirements of individuals and organizations which can not be financed through other sale contracts; Under Istisna'a financing contract, the underlying commodity is manufactured and the price is paid on forward basis or on installments, depending on the Istisna'a requester (the customer) and the consent of the manufacturer (the bank).

[11:45:31 AM] OOTW: SO THEY'RE GOING TO HAVE THE SECOND READING OF THE ISLAMIC BANKING ACT

[11:46:24 AM] OOTW: WHICH ENABLES BANKS AND ACCOUNT HOLDER AND ISLAMIC BANKING CUSTOMERS TO TRANSACT BUSINESS WITHOUT THE APPLICATION OF INTEREST OR VERY LOW INTEREST, IF ANY

[11:47:06 AM] OOTW: AND ARE GOING TO READ THE DRAFT "draft ratification Istisna'a loan agreement"

[11:47:32 AM] OOTW: WHICH WILL ALLOW SHARIAH LOAN TERMS TO BE APPLIED TO GOVT CONTRACTS

[11:48:27 AM] OOTW: SCZIN FOUND AN ARTICLE STATING THAT TOMORROW'S SESSION WAS GOING TO BE TO DISCUSS DRAFT LAWS AND WOULD HOLD NO VOTING..WE'LL HAVE TO WAIT AND SEE IF THAT PROVES TRUE, BUT AT LEAST THEY'RE GOING TO DISCUSS THE LAWS

[11:48:41 AM] OOTW: AGAIN, THE ABOVE AGENDA I POSTED IS FOR JULY 2

[11:50:07 AM] Sam: ‹@OOTW› passing thru this looks good right

[11:51:55 AM] OOTW: YES

[11:51:58 AM] OOTW: ABSOLUTELY

[11:53:40 AM] OOTW: PERHAPS THE ARTICLE WE SAY YESTERDAY STATING THAT THE "TRANSACTIONS FROM HOME" PROJECT HAS BEEN SLIGHTLY DELAYED IS IN PART DUE TO THE FACT THAT ISLAMIC BANKING ACT NEEDS TO BE PASSED SO THEY CAN PERFORM CURRENCY TRANSACTIONS UNDER THIS LAW

- I CAN'T SEE HOW THEY CAN WITHOUT THE ISLAMIC BANKING ACT, BUT WHO KNOWS, IRAQ DOES THINGS THEIR OWN WAY..WE'LL SEE

[11:54:55 AM] OOTW: I THINK THE FACT WE'RE SEEING THIS ON THE AGENDA FOR THIS WEEK IS A VERY GOOD SIGN THAT THEY ARE MOVING AHEAD WITH ECONOMIC REFORM –

THEY HAVE TO HAVE BANKING PROTECTIONS IN PLACE, INCLUDING SHARIAH GOVT BANK AND PRIVATE BANKING - THAT'S WHAT THESE "ACTS" DEAL WITH. ALSO WE STILL NEED THE DEPOSITORS INSURANCE - SO I'LL BE LOOKING FOR THAT

[11:55:18 AM] OOTW: IT'S ALL VERY GOOD...THIS IS THE KIND OF THINGS WE WANT TO SEE NOW

[11:55:43 AM] Sam: ‹@OOTW› Thanks.... haven't been able to be in here a lot the past few days but have a question

[11:56:10 AM] Sam: that article a few days ago about 2017 did you think that was legitate? that we have 2 MORE years

[11:56:19 AM] Sam: of course this is your opinion

[11:56:57 AM] OOTW: HON I DON'T GIVE THOSE ARTICLES CREDENCE - EVERY YEAR WE GET AN ARTICLE THAT SAYS "THIS YEAR" AND ANOTHER THAT SAYS "NEXT YEAR" AND SO ON

[11:57:01 AM] OOTW: JMHO

[11:57:19 AM] OOTW: ALSO

[11:57:39 AM] OOTW: KEYWORDS WAS THE PERSON ISSUING THAT STATEMENT (SUPPOSEDLY) AND WHO KNOWS IF HE'LL BE AT THE CBI STILL? LOL

[11:58:23 AM] Sam: i know...every year it seems we see the same things happening around the same time of year and up until now with the same results

[11:59:53 AM] OOTW: THIS IS THE LINK TO THE AGENDA'S AND MY CONDENSED POST/COMMENTS FOR ANYONE WHO WANTS TO POST wealthwatch.world/showthr...  :)

http://ift.tt/1T1YGqM

[12:00:25 PM] disciple7: ‹@OOTW› thank you

[12:00:34 PM] OOTW: SURE

[12:07:29 PM] OOTW: HERE'S ANOTHER LINK - SCZIN FOUND ANOTHER GREAT ARTICLE FOR THE AGENDA THREAD

[12:07:38 PM] OOTW: wealthwatch.world/showthr...

http://ift.tt/1R2e3Sy



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