Parliamentary economy: the coming days the date of passing the law of oil and gas
Special – Mawazine News – A member of the Committee on Economy and Investment parliamentary, Harith al-Harithi, Wednesday, that the next few days will witness the vote on the laws of a very important, while noting that among these laws the law of oil and gas.
Al-Harithi told Mawazine News that “the next few days will witness the completion of all the laws that are stalled reading and voting to end this few remaining period of parliament by reading the largest number of laws.”
He explained that “the important laws that will be read are the law of oil and gas for its economic importance and the revenues of the state and how to deal with it, in addition to the laws of parties and social security and health professions and many laws will be read and voted to end.
It is noteworthy that there is a package of laws in the House of Representatives because of the differences of political blocs around them, and was deported to several parliamentary sessions. Ended 29/6 N
Article Credit: mawazin.net (Special Thanks to Tim Tarkington)
Deputy: not to ratify the infallible balance of bias to the ruling family in the region
Baghdad Mawazine News – The deputy in parliament Mohamed Chihod, on Thursday, the lack of approval of President Fuad Masum on the federal budget law of 2018 bias to the ruling family in the Kurdistan region.
“The parliamentary session today includes a number of laws on the agenda, some need to read first and others require legislation,” Chihod told Mawazine News.
He added that “in the event of a quorum, we need to legislate important laws, most notably the law of nursing and health professionals, which are one of the most important laws that must be voted at this session as they are important segment.”
With regard to the non-ratification of the president is infallible on the budget, said Chihod, “This promises to abdicate his responsibilities and the constitutional oath, and a clear bias of the ruling family in the Kurdistan region.”
He stressed that “the budget law will be passed in the event of ratification of the law or not.”
Article Credit: mawazin.net (Special Thanks to Charles Bright)
BGG ~ Chihod is saying this “non-ratification” of the budget is the Barzani family still trying to throw a wrench in the works. It’s all they have left.
I’m curious when the Kurdish people are going to figure out the Barzanis are as bad as any of the others??
Jubouri: Budget will not be presented again to the House of Representatives
Lawmakers promise to restore the budget to the House of Representatives (a constitutional breach)
BAGHDAD / Sabah / Omar Abdul Latif / Muhannad Abdul Wahab returned parliamentary circles, rejected the President of the Republic, Fuad Masum, the ratification of the federal budget law for 2018 and return to Parliament, because of what he described as ” Legal and constitutional violations, “is unconstitutional and can not be accepted. While they hinted at the existence of political motives forced the President to return to parliament, they confirmed that it will be considered as a ratification after 15 days of sending to the presidency of the republic.
For his part, the Speaker of the House of Representatives, Salim Jubouri, that the budget «has become a law and will not be submitted to the House of Representatives again».
The Prime Minister, Haider Abadi, has confirmed, in the first official reaction to the re-budget to parliament, on Tuesday, that “no one has the right to suspend the general budget of the country after the vote by the House of Representatives,” expressing his hope to »A copy of the budget of the Presidency of the Republic to be effective».
The budget has become «law» as the Speaker of the House of Representatives, Salim al-Jubouri that the draft budget law became «a law after the vote by the Council» pointing out that any observations can be fixed on the origin of the law and challenged in the Federal Court…
Read More: http://www.dinarupdates.com/showthread.php?56505-Jubouri-Budget-will-not-be-presented-again-to-the-House-of-Representatives (Special Thanks to Loopster)
Central Bank of Iraq Auctions $200,110,472 on 15 March 2018
Baghdad (IraqiNews.com) The Central Bank of Iraq (CBI) currency auction on March 15 registered $200,110,472 in sales, a 0.39% volume increase from the US $199,335,352 sold by Iraqi Dinar, credit and transfer at the previous auction held on March 14.
The latest auction was attended by 45 banks and 9 remittance companies. The same institutions attended the auction held on March 15 compared to the previous auction.
Data for the March 15 auction was made public by CBI Announcement Number 3656.
Dollar sales in the in the period January 1, 2018 to March 15, 2018 saw an increase of -1% compared to the sales of US $7.62 billion in the same period in 2017. The total amount of US currency sold by CBI in the calendar year 2017 was US $15.7 billion.
An analysis of the monthly dollar sales by CBI since January 2016 reveals highly fluctuating volumes. During the period from January 2016 to February 2018, sales of US dollars averaged US $1.89 billion per month. Peak volumes were reached in May this year when sales touched US $2.3 billion.
Article Credit: http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
BGG ~ We will continue to highlight the regular auctions.
The value of the Iraqi dinar rose against the dollar by 0.20%
The value of the dinar rose 0.20% against the dollar on Thursday, after the central bank sold more than $ 181 million to cover the private sector’s dollar needs to import and meet the requirements of travelers for tourism, treatment and work.
The exchange rate of the dollar in the capital Baghdad:
The sale price of the dollar = 121.750 dinars
The price of buying the dollar = 120.750 dinars
The dollar exchange rates were recorded in the northern governorates:
The sale price of the dollar = 122.250 dinars
The price of buying the dollar = 121.250 dinars
The dollar exchange rates were recorded in the southern governorates:
The sale price of the dollar = 122,000 dinars
The purchase price of the dollar = 121,000 dinars
Article Credit: en.economiciraq.com (Special Thanks to Charles Bright)
BGG ~ They almost NEVER show the buy/sell in the various regions like this… so this isn’t vital information “tourists” need (as if there were any of those in Iraq)… it’s an advertisement directed at the IMF and the world.
It’s up to you to figure out why.
Adam Montana (Dinar Guru) – Dinar is so on the verge of making a breakthrough. I don’t even know what to say right now! Yes, this could be another false flag… but it might be our time. Many of us are about to receive an incredible amount of wealth…
Read more: http://www.dinarupdates.com/observer/
Don961 (Dinar Guru) – Article: “The Presidency of the Republic reveals the reason for the refusal of the infallible ratification of the budget” imo…the key phrases are: “the existence of about 31 points intersect with the legislation in force,”…re-audit form and content of Constitutional, legal and financial aspects “. “…scrutinize in detail to diagnose the most important constitutional and legal and financial violations of some of the articles or items or paragraphs that need to be addressed before ratification and to address any imbalance in the formulation Formalism“. Masoum is fixing the redundancy and the illegalities of some of the added articles … that Parliament overlooked or ignored.
Read more: http://www.dinarupdates.com/observer/
BGG ~ Not according to the news out today!!
Law of the National Oil Company .. A new era for the development of the economy
BAGHDAD (Reuters) – The House of Representatives voted Monday on a draft law of the National Oil Company, which will contribute to the development of the Iraqi oil industry, which aims to establish an Iraqi national oil company and enable it to carry out its work in the best way possible. National wealth said the academic economist d. Majid al-Baydani said in an interview with Al-Sabah that “the approval of the law of the National Oil Company will be a new era for the oil industry in the country as it will encourage the adoption of advanced scientific and technological methods to manage the national wealth to support the development of the economy.” “This will be an important shift in the development of extracting, marketing, transportation, storage and sales to the point of delivery and other oil operations,” he said.
The largest company
Al-Baydani said that “the Iraqi National Oil Company will be the second largest oil company in the world after Aramco and the largest of all international oil companies, which calls for the President to have a degree of experience and efficiency appropriate, commensurate with the powers of the company and capital.”
Article 2 of the law establishing the company consists of the capital of the company of (400) billion dinars paid by the government with the approval of the Council of Ministers and the company increase its capital on the proposal of its board of directors and approval of the Council of Ministers after the presentation of the feasibility study.
As stated in Article 5 of it “The Iraqi National Oil Company invests all the oil and gas areas in all the territory of the Republic of Iraq and its territorial waters and continental shelf, and may share with others the approval of the Council of Ministers if it finds it better to achieve its purposes and has the right to borrow from inside or outside Iraq to finance its investments inside Iraq and outside…
…the inclusion of the Iraqi National Oil Company A minimum of 10 percent is placed in four boxes with the first experience in the country, and one of the funds will give each Iraqi citizen residing within the country a share of that percentage…
Apmcrx (Dinar Guru) – Article: “Abadi: Iraq will become an economic power in the world” IMO in My speculative opinion!!!… Every day Iraq is telling us they will be a great again (like america) but this “economic development” is something that no any country can make overnight…not even U.S…so in my opinion the reforms will work over the time maybe all the way to the next Iraqs fiscal year or maybe the next after that one…IMO.
Read more: http://www.dinarupdates.com/observer/
Mnt Goat (Dinar Guru) – So recently many asked me when is the 90 days up for the MCP monitoring program by the IMF? The reinstatement submittal was done in late December. No firm date is known.Get it? The article did not give us a date. If we give a week from the last week in December for the IMF to review Iraq’s request this puts us to at least the end of the year 2017. Then if they do place a mandatory monitoring program in place for the MCP we can see 90 days probably begins around Jan 1st. So if we go out 90 days then where do we land? So knowing all this then when do you think we might see it happen? …no one knows the date of the RV, we only speculate and try to figure it out using the best information we have on hand at the time. It’s not rocket science to see a possible window coming up very soon…
Read more: http://www.dinarupdates.com/observer/
BGG ~ I have no idea what this person is trying to say… according to the IMF’s own published documents Iraq has been in compliance with their MCP policies for quite some time now, with the exception of one situation with Jordan (or someone like that)… but they were given a technical waiver on this one instance.
Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. “The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law,” Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, “noting that” after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. ”
Al-Bahadli added that “the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, “pointing out that” some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. “…
Read More: http://www.dinarupdates.com/showthread.php?56437-Parliamentary-Energy-The-law-of-the-National-Oil-Company-will-give-a-share-to-every
Some interesting headlines…
The rise in the value of the dinar strengthens international confidence in the Iraqi economy
Baghdad / Hussein Thugb – The recovery of the Iraqi dinar and the stability of the exchange rate leads to the strengthening of international confidence in the national economy, where local markets indicated an increase in the value of the Iraqi dinar against the dollar and conflicting views on this and came the opinion of the Central Bank to be the subject.
Director of operations at the Central Bank of Iraq, Mahmoud Dagher, said that “the improvement of the value of the Iraqi dinar against the dollar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the identification of large measures on the process of currency presentation and address violations of demand. Classification and audit and noted that “over the past year we were able to achieve great stability of the upper and lower limits to the dollar either Aldnyar, and then we moved to a new situation this year , represented a new classification procedures adopted and auditing, as well as the offer.” Greater coverage and added that ” it is hard to be one variable indicator in this change , there are several measures and cover greater demand for the dollar, as well as emphasis on control over the sales operations with banks and regulate this process accurately based on classifications.
(Special Thanks to LoopBack)
Dave S – “the improvement of the value of the Iraqi dinar recently, is not a new phenomenon, but the outcome of the work continued for a full year, was through the identification on the process of currency presentation and address violations of demand.”
In other words nothing has changed on a national level.
The dinar has continued to fluctuate as in the past against the dollar on a national level.
The challenge is going to an international level meaning that in order to do that their needs to be a change in “classification “, in my opinion, lower denominations for ATMs and for the purposes of auditing etc…
This is the process to get the dinar recognized on an international level.
I could be wrong but just my humble interpretation of this article.
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(go here and ask to join… then add some Dinar Friends!!)
Post RV Checklist (it’s getting to be that time!! Listen up!!)
Dos and Don’ts of Windfall Wealth:
Treat it like a PowerBall win
– Tell no one, not even family. If you must talk, do so with one who is already in the know.
– Don’t run out & buy new “stuff”. People notice.
– Get an unpublished number and give it out very sparingly.
– Get a tax accountant you can trust to make sure the IRS is satisfied (Certified Opinion is something to look into) and pursue asset protection…
Read Complete List: http://www.dinarupdates.com/showthread.php?18519-The-Post-RV-Checklist-and-Flashback-documents&p=128477#post128477