Dinar Daily NEWS Blog – May 25th

Two villages freed, west of Mosul, as PMUs resume advance toward Baaj

The paramilitary troops have resumed their advance to liberate villages in west of Qairawan region as well as Baaj, west of Mosul, reaching to Syrian borders.

The media service of al-Hashd al-Shaabi (Popular Mobilization Units) said troops “freed on Thursday Arfee’ al-Awal village, northeast of Qairawan, inflicting huge losses on the enemy.”

“The 11th brigade liberated al-Wahbi village, northeast of Baaj,” the troops declared saying a booby-trapped vehicle was destroying while trying to hinder the forces advance.

According to the statements, the PMUs followed seven vehicles of Islamic State that attempted fleeing Wahbi toward Maghsal village “All the vehicles were equipped with guns, while only one was booby-trapped.”

PMUs resumed on Wednesday evening the second phase of operations to liberate the remaining villages in the vicinity of Qairawan and Baaj.

On Tuesday, the paramilitary troops announced full liberation of Qairawan.

Many villages in Qairawan region, a main Islamic State bastion which links between Tal Afar town and the Syrian borders, have been freed since the troops launched an offensive on May 12 to free the region. Last week the troops announced liberated of Sahl Sinjar airbase, located south of Qairawan, in addition to cutting off a main supply route between the freed Tal Banat village and Qairawan.

Read more: http://www.dinarupdates.com/showthread.php?49502-Two-villages-freed-west-of-Mosul-as-PMUs-resume-advance-toward-Baaj

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Revealed: Parl't to question Abadi on fate of US troops in Iraq

Revealed: Parliament to question Abadi on fate of US troops in Iraq

Member of Iraqi parliament’s Security and Defense Committee Iskander Watut said on Wednesday that the committee aims to meet with Prime Minister Haider al Abadi to inquire on US troops’ presence in Iraq.

In statements to on a TV station, Watut said that the committee will meet with the prime minister soon to ask him about the US troops in Iraq and their fate.

Earlier, security sources told The Baghdad Post that additional US troops have been deployed to Ain al-Assad military base in Anbar province in western Baghdad.

Meanwhile, media reports said that Trump Administration is in talks with the Iraqi government about keeping US troops in Iraq after the fight against ISIS in the country is over while Abadi’s media office released a statement denying any Iraqi government agreements with Washington about keeping US troops in the post-ISIS era.

Read more: http://www.dinarupdates.com/showthread.php?49497-Revealed-Parl-t-to-question-Abadi-on-fate-of-US-troops-in-Iraq-May-24-2017


National reconciliation ‘key to Iraq’s stability’ – Jabouri

It is time to commence community reconciliation project and inculcate tolerance and coexistence in the Iraqi society, Iraqi Parliament Speaker Salim al-Jabouri said on Thursday, adding that these points are key to Iraq’s security and stability.

During a meeting with a number of tribal leaders and dignitaries in Baghdad, al-Jabouri stated that tribes play a significant role in maintaining Iraq’s unity and social fabric by addressing causes of division.

He pointed out that the Iraqi parliament is keen on supporting tribes and other concerned parties’ efforts to achieve unity by passing laws in the interest of all Iraqi citizens without exception.

In an earlier statement, Iraqi Parliament speaker said that security and stability cannot be achieved without Iraqi displaced families’ return to their districts and cooperation between the security apparatuses and citizens.

Read more: http://www.dinarupdates.com/showthread.php?49506-National-reconciliation-key-to-Iraq-s-stability-Jabouri


Kaperoni (Dinar Guru) –   …we all know the dinar is pegged to the dollar…   […wouldn’t Iraq have to/want to be in Article VIII compliance before they unpegged?]   I can only speculate based on the IMF docs that I have read.  But I would assume so…because the raising of the value of the dinar is directly related to investment in the market economy. And without Article VIII, there is no foreign investment.  Remember, the key to this is the activation of the CBI’s Capital Account which is the pipeline of sorts for money flowing in and out of Iraq. Once in Article VIII, foreign investors/ investment will begin to participate in rebuilding and privatizing Iraq. Money will be deposited into bank accounts, flow through the CBI’s Capital Account and if the dinar is not pegged, will begin to move upwards to offset inflationary pressure created by the influx of economic activity (thus the Balassa-Samuelson effect)... There are no shortcuts. The CBI needs to get in compliance with the IMF so they can transition out of Article XIV. They need deposit insurance. Once that happens, we should see things begin to move fast.

Read more: http://www.dinarupdates.com/observer

Iraq is preparing to launch a second round of Treasury bonds

Central Bank Governor Ali al-Alak announced on Thursday that the bank is ready to offer the second batch of treasury bonds by one billion dollars to international banks.

“Bonds that were guaranteed by the US government were floated and sold for $ 1 billion. This guarantee helped cut the interest rate to about 2 percent or slightly more,” Alaq said in a news interview.

Al-Alak added that “Iraq has an intention to raise another billion, and this goal from the beginning and according to the budget law to raise $ 2 billion, so as not to be high interest costs guaranteed the United States billion dollars to be the other billion market interest combined with other interest, “This is helping to reduce interest rates,” he said, adding that “preparations are being made for the issuance of these bonds to international banks.”

He stressed the “absence of any conditions or dictations on Iraq by the IMF and the World Bank on the issue of loans,” noting at the same time that “the reserves of hard currency comfortable and reassuring in accordance with international standards.”

He pointed to the “Iraq’s success in moving to the rank of follow-up member according to the international classification of international financial transactions after he was threatened years ago on the black list.”

Read more: http://www.dinarupdates.com/showthread.php?49520-Iraq-is-preparing-to-launch-a-second-round-of-Treasury-bonds



Central bank sales of the dollar fell in the auction today

Trend Press / Baghdad The sale of foreign currency by the Central Bank of Iraq (CBI) on Wednesday fell to 150 million dollars, while 153 million dollars were recorded yesterday.

A statement by the bank obtained “Trend Press” a copy of it, “The volume of the amount sold today amounted to 150 million, 321 thousand, and 47 dollars, the exchange rate of 1182 dinars per dollar, with the participation of 40 banks and 10 companies for financial transfer.”

The statement said that “the sale of amounts transferred to the accounts of banks abroad, as well as the sale of cash was the price of 1190 dinars per dollar.”

Read more: http://www.dinarupdates.com/showthread.php?49485-Central-bank-sales-of-the-dollar-fell-in-the-auction-today


Kaperoni (Dinar Guru) –  Artile:  “Experts: float the currency needs to be a productive economy and not Rieia (rentier)”   Quote:   “…to float the currency now in Iraq can not talk about that simple, as needed to advance measures…it could be done if the transformation of the Iraqi economy from a yield to productive…”  This is actually a really good article because they state very clearly that under the current conditions they cannot float the dinar…and only once the market economy begins can they do so So we continue to wait for Iraq to set the stage for investment.  Pass the needed laws, get the dinar in compliance with the IMF, etc.  to move to Article VIII.  Only then will we see the dinar float and rise based on market forces I am hopeful that yet this year we can see that happen.

Read more: http://www.dinarupdates.com/observer

Abadi: We discussed with the Saudi side the mechanisms of controlling oil prices in the global market

Prime Minister Haider al-Abadi said that he discussed with Saudi Oil Minister Khalid Al-Faleh the mechanisms of controlling the oil prices in the world market, while stressing that Iraq’s relations with all neighboring countries are “good”.

“We discussed with the Saudi side the mechanisms of controlling oil prices in the global market,” Abadi said at his weekly press conference.

On February 22, 2017, Saudi Oil Minister Khalid al-Faleh arrived in Baghdad on an official visit during which he met with Prime Minister Haider al-Abadi and Oil Minister Jabbar al-Allaibi.

Read more:  http://www.dinarupdates.com/showthread.php?49473-Abadi-We-discussed-with-the-Saudi-side-the-mechanisms-of-controlling-oil-prices


Crude oil rises ahead of OPEC meeting

LONDON (Reuters) – Oil prices rose in European trading on Wednesday for a sixth consecutive session, gaining more ground on the back of OPEC’s possible extension of production cuts for another nine months when it meets on Thursday.

London Brent crude futures for July delivery rose 20 cents to $ 54.35 a barrel, after hitting a 19-year high of $ 54.43 the previous day.

Oil ministers from the Organization of the Petroleum Exporting Countries and other major producer countries will meet in Vienna on Thursday to decide whether to extend the current production agreement beyond June 30.

In November last year, the Organization of Petroleum Exporting Countries (OPEC) and 11 other non-OPEC countries, including Russia, agreed to cut production by 8.1 million bpd between January 1 and June 30.

Most market analysts expect the oil sector to extend production cuts for another nine months until March 2018 instead of six months as previously expected.

Read more: http://www.dinarupdates.com/showthread.php?49471-Crude-oil-rises-ahead-of-OPEC-meeting


BGG (Dinar Guru) –   I am very excited about the current state of things. I am very excited about the next short time frame… I think we are in an incredible window of time right now…and I do feel – if things advance as they have been – we could be very, very close. Maybe not today or tomorrow, but legitimately CLOSE. Unlike ever before.  (keep in mind – we have been close before – the CBI had planned on 2013? sometime and put it off). According to the SIGR Report.  We are close.  REAL CLOSE.

Read more: http://www.dinarupdates.com/observer

Industry: We want to cooperate with the UAE in the field of energy

Economy News BAGHDAD, He confirmed minister Industry And minerals Mohammed Ayaa Sudanese, Wednesday, desire Iraq Cooperation With Country United Arab Emirates at fields energy Multiple, Indicating to have Iraq Centers Research Specialized And sophisticated .

And he said Declaration Journalist To the Ministry Industry Received ” economy News ” version from him, That ” Sudanese he met During His visit Current to me Country United Arab Emirates Arabic United Nations Bockel Ministry energy Doctor rain Neyadi And search Frames Cooperat Common at fields energy Different And possibility Support Capacity Iraq Specialized by this the field In the presence of Delegation Iraq the official Which Includes President body Investment And the counselor Economic development To the President Ministers Number From Officials Governmental organizations And men Business Iraqis addition to me actor Ministry Foreign Affairs at Country United Arab Emirates And Ambassador Republic of Iraq at Abu Abu Dhabi .

He drew To ” desire the government Cooperation With Country United Arab Emirates at fields energy Multiple And their uses From During exchange Of experience Transfer Technology And benefit From Experiments Successful at Country United Arab Emirates by this Domain ” , Pointing out to me That ” Iraq Owned Centers Research Specialized And sophisticated at fields energy And cadres Enough And Experiences Accumulated “.

“It is important Use Experiences Experiences Arabic And foreign To develop this is Possibilities And upgrading In the centers And studies Research And scientific As a pillar Basic And important To implement Projects Pioneer Serving And contribute at Investigation Development Economic . ”

Read more:  http://www.dinarupdates.com/showthread.php?49470-Industry-We-want-to-cooperate-with-the-UAE-in-the-field-of-energy


“I have been driven many times upon my knees by the overwhelming conviction that I had no where else to go.”                  

Abraham Lincoln


Iraqi troops recapture half of biggest western Mosul district

Iraqi troops have gained control on part of the biggest west Mosul district and killed a number of Islamic State militants in an airstrike.

In statements on Friday, the War Media Cell quoted the Nineveh Operations Commander, Lt.Gen. Abdul Amir Yarallah, as saying that the 9th armored division retaken the northern part of 17 Tamuz (July 17) in the western side of Mosul.

In other statements, WMC said dozens of IS fighters were killed in airstrikes in western Mosul.

Iraqi fighter jets launched several airstrikes that destroyed booby-trapping workshop and vehicles and killed dozens of militants on Rifaie district.

“An IS headquarter and booby-trapping workshop were destroyed, while dozens of militants were killed on al-Zanjili district,” the statement added.

Iraqi forces have been sweeping through northwestern neighborhoods over the past two weeks in a way to invade the strategic Old City.

More than 16,000 IS members were killed since beginning of operations in Mosul, Brigadier General Yahya Rasool, the military spokesperson, said in a press conference on Tuesday declaring that 89.5 percent of western Mosul was liberated with only a few districts remaining under the militants’ control.

Eastern Mosul was liberated in January after three months of battles. Another major offensive was launched in February to retake the western side.

Read more:  http://www.dinarupdates.com/showthread.php?49290-Iraqi-troops-recapture-half-of-biggest-western-Mosul-district


U.N. says 200,000 more people could flee Mosul as fighting intensifies

The United Nations said on Thursday up to 200,000 more people could flee Mosul as Iraqi forces push into the last districts held by Islamic State militants.

Iraqi authorities and aid agencies are already struggling to cope with a surge in displacement since security forces opened a new front against the militants in Mosul earlier this month.

Backed by a U.S.-led coalition, Iraqi forces have dislodged Islamic State from all but about 12 square km (5 square miles) of the city and are seeking to claim victory before the holy month of Ramadan in less than two weeks.
The militants, however, still control the Old City, where they are expected to make their last stand in the densely populated, narrow streets that are impassable for armored vehicles.

“As military operations intensify and move closer to Mosul’s Old City area, we expect that up to 200,000 more people will flee,” Lise Grande, the U.N.’s Humanitarian Coordinator for Iraq said in a statement, describing the figures as “alarming”.

“The numbers of people who are moving are now so large, it’s becoming more and more difficult to ensure civilians receive the assistance and protection they need.”

Nearly 700,000 people have fled Mosul since the start of the campaign to retake the city last October, seeking refuge either with friends and relatives or in camps.
Human Rights Watch said on Thursday the Iraqi army and other local security forces had forced over 300 displaced families to return to districts of Mosul that are still at risk of attack by Islamic State.

“These families should not be forcibly returned to unsafe areas and areas that lack adequate water, food, electricity, or health facilities,” said Lama Fakih, deputy Middle East director at Human Rights Watch.

Read more:  http://www.dinarupdates.com/showthread.php?49233-U-N-says-200-000-more-people-could-flee-Mosul-as-fighting-intensifies


Al-Rashid: Our predecessor to pensioners up to 3 million dinars

Al-Rasheed Bank announced on Thursday that it is providing advances to retirees up to 3 million dinars, stressing that the borrower must have a smart card from the bank exclusively.

The bank’s assistant director Muataz Abdul Rasul said that “the bank is still continuing to grant advances to retirees according to his pension and the amounts ranging between one million and 500 thousand dinars and two million dinars and three million dinars.”

Abdul Rasul said that “the interest on these advances up to 7% and the duration of payment of five years,” stressing that “the pensioner must be a smart card from the bank exclusively.”

It is worth mentioning that the Bank of Rasheed started in 2017 by granting salaries to employees of ten salaries according to certain mechanisms and controls.

Read more:  http://www.dinarupdates.com/member.php?47292-MadDScout


Economist: The decline in reserves of the Central Bank came because of the bank’s entry as a financier of many banks

The economic expert Bassem Jameel Antoine, said today that the decline in the reserve of the Central Bank came due to the entry of the bank as financier of many banks to save the process of development and economic decline.

Antoine said in an interview for the “trend” He added that “the central bank gave treasury bonds to the Iraqi government to fill the deficit of 21 billion dollars, the equivalent of 21 trillion dinars,” noting that “the Iraqi economy in decline in revenue due to low oil prices.”

“The Iraqi economy needs radical treatments through its transformation from consumer to producer through the activation of the productive sectors of agriculture, industry and tourism.”

He pointed out that “If these amounts withdrawn from the Central Bank for development purposes acted to develop the productive sectors and the private sector in particular Vakhov and consider the economy is good,” noting that “the amounts paid to salaries and non-productive sectors and does not cover the rate of interest you borrow is a mistake.”

Read More: http://www.dinarupdates.com/showthread.php?49431-Economist-The-decline-in-reserves-of-the-Central-Bank-came-because-of-the-bank-s-ent



BGG (Dinar Guru) –   Article:  “Iraq offers compensation settlement and Kuwaiti debt against investment”   Quote:  “…the meeting also discussed the file of compensation with the State of Kuwait and ways to settle through the window of investment inside Iraq.“.   two separate items talked about – how to pay back Kuwait (not to be confused with) – their eagerness to settle investments inside Iraq?  One of the big problems needing dealt with – is they have few mechanisms in place to safe guard investors. Why would the IMF care about Iraqi investors. They don’t – this is referring to OUTSIDE investors. Period.  Really good news – entering final talks – it appears.

Read more: http://www.dinarupdates.com/observer/

Kaperoni (Dinar Guru) –   Article:  “ATMs for MasterCard card users”   …it is fun to watch all the pieces be put in place for the economy to take off.  Iraq is literally going from the stone age to the 21st century with technology in a few years.

Read more: http://www.dinarupdates.com/observer/


Adam Montana (Dinar Guru) –   [What will happen to the other major currencies when the CBI RV’s the IQD/USD exchange rate? The countries using the EUR, the GBP, the CHF, the JPY, and the CNY all have international corporations invested in Iraqi oil with contracts based on today’s exchange rates.  How will a radical upward IQD/USD RV (which effectively decreases the value of the USD against the IQD) affect the EUR/USD and the GBP/USD and the CHF/USD and the JPY/USD and the CNY/USD exchange rates?  Will these other major global currencies also be devalued and what in your opinion will that do to an already stressed global economy?]  This is a great question, because it opens up the floor to discuss how an RV is really a zero-sum game, mostly because we are talking about a fiat currency. When the FED prints more USD, we don’t actually gain that money.  It just dilutes the dollar a little bit more.  IQD, and an RV of the currency, works the same way, just on a global scale. My opinion is that almost every other currency will take a slight hit, and then rebound once the IQD rate stabilizes, and within about a month all currencies will be back to normal… except the IQD will be dramatically different than it was a month prior.

Read more: http://www.dinarupdates.com/observer/



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Iraqi Dinar/Dollar auction 05-25-17 (most recent listing)

Currency Auctions Announcement No. 3450

This daily currency auction was held in the Central Bank of Iraq on the 05-25-2017

Number of banks 38
Number of remittance companies 10
Amount sold at auction price (US$) 158,102,404
Amount purchased at Auction price (US$) —–
Total offers for buying (US$) 158,102,404
Total offers for selling (US$) —–

Read More: http://www.dinarupdates.com/observer/


US dollar USD 1184.000 1182.000
Euro EUR 1325.251 1324.589
British pound GBP 1534.701 1533.933
Canadian dollar CAD 879.643 879.204
Swiss franc CHF 1212.742 1212.136
Swedish krona SEK 135.872 135.804
Norwegian krone NOK 141.220 141.149
Danish krone DKK 178.088 177.999
Japanese yen JPY 10.590 10.585
Drawing Rights
SDR 1635.116 1634.298

Indicative rates – 05.25.2017


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