BLC Admin Tlm724 News & Comments 7-21-15

Morning News Comments 07/21/2015

Iraq MPs set to approve anti-money laundering law

[tlm724] Iraq's parliament is expected to soon endorse a new law that aims to combat money laundering and terrorism financing, the government's economic adviser said 

[tlm724] He said the new law would cover tax evasion, smuggling of antiquities and cash as well as corruption.

[tlm724] *hallelujah* great to see corruption included !
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[tlm724] "It will also meet Iraq's financial interest and open the way for the country to conduct economic activities at the international level,

[tlm724] Naim Khudair, director general of the Anti-Money Laundering Office at the Central Bank of Iraq, said the government had pledged to pass new legislation for anti-money laundering and terrorism financing by October 2015

[tlm724] thats right from the CBI, by October !

[tlm724] "There are instructions to give special importance to monitoring bank transactions by politicians and their families in addition to monitoring their dealings in real estate and gold

[tlm724] Central Bank Governor Ali Al Allaq said the new law would help reassure foreign investors

[tlm724] "The new law will facilitate the entry of big companies into Iraq and increase their confidence in the country's economic environment,

[tlm724] bring it on !!!   

      

[tlm724] The deteriorating security situation, poor governance and inconsistent regulations have kept Iraq at low ratings of global rankings for doing business, according to the World Bank

[tlm724] economy and investment committee, said that while it would prove difficult for Iraq to recover smuggled funds, the new law would have a greater impact in preventing illegal transactions

[tlm724] the new draft law was backed by all political parties *wolfwhistle* now that is hot ! Thanks Rocky

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Abadi demanding federal powers to the start of Basra, the transfer of powers to local governments

[tlm724] the prime minister committed himself in front of the House of Representatives Select the fifteenth of August next deadline for the transfer of powers to local governments, "calling Abadi that starts from Basra, the first province to be granted full powers

[tlm724] I hope they do transfer power ! One more step in decentralization

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Planning expects high poverty rate to about 20% unemployment and 15% because of the security situation 

[tlm724] expected the Ministry of Planning, on Tuesday, rising poverty line ratio to about 20% and unemployment at 15%, attributed the reason to the security and economic conditions experienced by the country,

[tlm724] shakes head, unbelievable for such a rich country !

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Council of Ministers today discusses the mechanism of reduction of the special provisions for the three presidencies

[tlm724] the Council of Ministers will discuss in its session today the appropriate mechanism to reduce the extraordinary allocations to the staff of the three presidencies.

[tlm724] good get rid of all their stuff, they stole all they will ever need anyway !

[tlm724] The Council of Ministers is determined to discuss proposal of the prime minister on the reduction of salaries and privileges of the private and the higher grades, but that a number of ministers raised the subject of the reduction of the special provisions for the staff of the three presidencies

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