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Word for the day…
Mrs. BGG
Iraqi Dinar/Dollar auction (most recent listing) 06-23-16
Currency Auctions Announcement No. 3227
This daily currency auction was held in the Central Bank of Iraq on the 06-23-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 33 |
| Number of remittance companies | 17 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 135,861,364 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 135,861,364 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
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Everyone wants to live at the expense of the State. They forget that the State lives at the expense of everyone. – Frederic Bastiat
*** Current News ***
RCookie’s News Recap
HERE IS A RECAP OF NEWS….
OIL CLOSES AT $50.88…OPECS BASKET AT $46.02…AUCTIONS AT 148 MILLION…
MUTHANNA COUNCIL LAUNCHES DISBURSEMENTS OF RESIDENTIAL COMPLEXES IN CENTRAL SAMAWA…
SALEH RESTATES IRAQ FOREIGN CURRENCY RESERVES AT $53 BILLION…
WASHINGTON LAUDS ABADI AS INSTILLING GLOBAL CONFIDENCE IN IRAQ AND RESPONSIBLE FOR INTERNATIONAL AGENCY LOANS…
MP FOR CITIZEN HUSSENI STATES LIBERATION OF MOSUL TO INCLUDE PARTICIPATION OF POPULAR CROWD AND WILL END THE BATTLE QUICKLY…
MINISTRY OF LABOR & SOCIAL AFFAIRS SEEKING COOPERATION FROM WORLD BANK IN DEVELOPING NATIONAL STRATEGY TO ADDRESS & ALLEVIATE POVERTY…
JORDANIAN KING MEETS WITH MCGOURK AND CALLS ON INTERNATIONAL COALITION TO COMBAT ISIS IN HOLISTIC APPROACH WITH COMPLETE ELIMINATION…
ABADI MEETS WITH ALLAWI TO DISCUSS SECURITY AND POLITICAL ISSUES OPEN DIALOGUE AND MOVE PAST DIFFERENCES…
ZEBARI DELIVERS 2ND MESSAGE TO KUWAITI EMIR FROM ABADI AFTER OBIEDI DELIVERED PREVIOUS EARLIER IN MONTH CONCERNING SECURITY STATUS & COOPERATION AMONG ARAB STATES ALONG WITH REQUEST TO AGAIN DELAY WAR REPARATIONS PAYMENTS…
MINISTRY OF FINANCE INSPECTOR GENERAL ANNOUNCE RECOVERING 10 BILLION IQD STATE PROPERTY RETURNED TO STATE COFFERS…
JUDICIARY DELIVERS 30 BILLION IQD TO STATE TREASURY IN 2015 WITH FEES LAWSUITS AND FINES…
INVESTMENT/ECONOMY/BUSINESS
IDB PROVIDES RECONSTRUCTION MINISTRY $150 MILLION FOR ESTABLISH PLANTS IN 6 PROVINCES BAGHDAD, QAR, BASRA, ANBAR, BABIL, KIRKUK FOR HOUSING AND SCHOOLS…
MINISTRY OF INDUSTRY & MINERALS ANNOUNCE IRAQ AND HUNGARY TO SIGN MOU FOR ECONOMIC COOPERATION IN SEPTEMBER…
CBI ISSUES STATEMENT OF REFUSAL TO PROVIDE EXCEPTIONS OF CUSTOMS IMPORTS PERMITS FOR THOSE WHO HAVE GIVEN INCORRECT OR FALSE INFORMATION AND PREVENT FUTURE AUCTION PARTICIPATION…
SALEH ANNOUNCES AGAIN IRAQ WILL RECEIVE 1ST INSTALLMENT OF IMF LOANS BY END OF JUNE…
ISX RISES FOR 4TH CONSECUTIVE DAY AMID SLOWER TRADING VOLUME UP 0.24% AND 1.21 POINTS AT 514.62…
LOCAL INVESTORS CLAIMING “MONOPOLIES” BY FOREIGN COUNTERPARTS ESPECIALLY TURKISH, IRANIAN AND EGYPTIAN WHO THEY CLAIM PROJECTS WOULD FORCE TO SHARE OR TRANSFER MONEY ABROAD SALEH CALLING FOR AMENDMENTS TO INVESTMENT AND BANKING LAW AND …
ABADI PROMOTES OFFERING STUDY TO REDUCE FUEL PRICES TO 200 DINARS…
IRAQ PURCHASES 80,000 TONNES OF RICE FROM INDIA…
BOEING DEAL WITH IRAN $25 BILLION FOR 100 AIRCRAFT FOR IRAN AIR…
SECURITY
ABADI REASSURES MOSUL RESIDENTS THEIR LIBERATION WILL OCCUR THIS YEAR…
INTERNTIONAL COALITION BOMBING KILLS 20 ISIS ELEMENTS IN SOUTHERN MOSU INCLUDING 3 INFLUENTIAL ISIS LEADERSL…
JABOURI STATES FALLUJAH LIBERATION OPENS ROAD FOR MOSUL LIBERATION OFFENSIVE…
IRAQI ARMY SPOKENMAN ASSERTS ISIS LOST 2500 ELEMENTS IN FALLUJAH LIBERATION OPERATION ALONE…
IRAQ FORCES CONTROL NEW AREAS OF ALJUGHAIFI FALLUJAH WITHIN CLEANSING FRAMEWORK…
PENTAGON CONFIRMS READINESS TO CONDUCT ISIS AIRSTRIKES IN LIBYA…
ISF 8TH BAND LIBERATES GRAVEL AREA SOUTHWESTERN FALLUJAH FULLY…
ANBAR OPERATIONS GEN MAHLAWI ANNOUNCE FULL LIBERATION OF SOUTHERN FALLUJAH TOWN OF AJARPIH…
11 ISIS ELEMENTS KILLED IN AIR ATTACKS IN NORTHERN SALAHUDDIN…
ANBAR OPERATIONS ANNOUNCE KILLING OF 50 ISIS ELEMENTS NORTH OF RAMADI…
INTERNATIONAL COALITION PERFORMS 35 SORTIES IN SYRIA AND IRAQ…
MOD OBEIDI STATES ISIS TERRORISM BROKEN IN FALLUJAH AND WILL END IN NINEVEH…
23 ISIS ELEMENTS KILLED IN VARIOUS OPERATION IN NORTHERN FALLUJAH…
ABADI RECEIVES “DISTRESS CALL” FROM CITIZENS OF MOSUL IN PLEA FOR LIBERATION FROM ISIS ELEMENTS…
ISIS DESTROYS 5 ELECTRICITY TOWERS IN EASTERN SALAHUDDIN AREA…
1200 ISIS ELEMENTS KILLED IN SYRIAN MANBEJ OPERATIONS…
PEOPLE CROWD BRIGADE COMMANDER ANNOUNCE THE ARREST OF 225 ISIS ELEMENTS SINCE BEGINNING OF FALLUJAH LIBERATION…
PARLIAMENT
CALLS FOR CONVENING URGENT PARLIAMENT SESSION DUE TO FALLUJAH DEVELOPMENTS AND COMPLETION OF CABINET RESHUFFLE…
PARLIAMENT COMMITTEE ON INVESTMENTS AND ECONOMY NAJIB STATES POSSIBILITY OF PART OF IMF LOANS ALOOCATION FOR INVESTMENT PROJECTS AS BUDGET INCLUDES BOTH OPERATIONAL & DEVELOPMENT SIDES…
PARLIAMENT ECONOMIC COMMITTEE MP NAJIB REVEAL THAT SMUGGLED IRAQI STATE MONEY IS INVESTED IN ARAB COUNTRIES REGISTERED IN FICTITOUS NAMES AND COMPANIES & IMPLORE FOREIGN MINISTRY TO DO MORE TO UNCOVER AND RECOVER WITH FOREIGN EMBASSIES…
PARLIAMENTARY FOREIGN AFFAIRS ASSERTS THAT SAUDI AMBASSADOR SURVIVAL I POSITION IS A VICTORY FOR ISIS AND TERRORISM…
COUNCIL OF NINEVEH DECLARES IRAQI FORCES WILL CONDUCT LIKE PROFESSIONALS LIKE PESHMERGA IN BATTLE OF MOSUL…
HOW ABOUT THAT $25 BILLION CONTRACT FOR BOEING WITH IRAN FOR 100 PLANES!!!….WOW!!
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Keywords: central policy adopted prevented the financial collapse
Jubouri promised to amend the Banking Act
BAGHDAD – Hussein Tgb – Collect a number of officials in the public and private sectors to give business environment required attention, and that is the role of the banking sector , prominent in this area and the need to be a role developmentally after the events of changes necessary for this side.
Speaker of the House Dr. . Saleem al – Jubouri Park at the beginning of his speech security victories achieved by our security forces and the crowd popular on «Daash» terror in various fronts, and then said: It is important to know the importance and the role of private banks in the national economy and strengthen Iraq ‘s capacity production and service. Roadmap and draw during the ceremony Ramadan annual of the Association of Iraqi private banks to the importance of the private banks sector and the role of development, stressing that the complexities that have passed during the last period did not allow collaboration together to develop a road map to promote the role of private banks to support the national economy , which fluctuated during the period years.
he said: We are closely monitoring the problems between private banks the government on the one hand and between them and the Ministry of Finance on the other hand, has these problems led to the banking market , and removing fragmentation and make them work in a way perhaps signaling that it is incorrect and all it depends on determining the vision and make it more flexible and realistic.
20 trillion dinars , the central bank governor in turn , between the Central that depends a balanced policy in the circumstances experienced by Iraq to prevent the financial collapse of the country, and that since the end of last year and to the end of this year will be the state treasury Mall $ 20 trillion dinars, pointing out that the economic aspect entails real development opportunities and base security and social stability and move towards construction.
Keywords said : risks that beset us the subject of terrorist financing and the banking sector and the financial sector in general , concerned that it dramatically so comply with the requirements combat level has to be great because it protects the society and the economy and the country ‘s vulnerability and the banking sector to a significant risk.
He said the Central after the issuance of anti – money laundering law he moved into a new era in dealing with banks and financial institutions and companies, and must be a major commitment to this law and develop regulatory standards to be a separation between us and the banks.
He said: We must all work together for the achievement of an ideal working environment that provides job opportunities to prepare young people unemployed Ngnehm from engaging in negative Atjhat within the community and adversely affect the reality of life, and we have to look seriously for the advancement of labor sector , especially as the country has a lot of Alfrs.labd be sector banking Alerting the direction of trying to stimulate the fact Alaguetsidi and its financing, and the central work of the initiatives is the first in the history of Iraq, including the allocation of 6 trillion to support various projects projects, stressing that give business attention required to contain the unemployed numbers of the various slides. overcome the obstacles head of the Iraqi private banks association Wadih Handal said : managed Association during its short life of strengthening the role of the banking sector and overcome the obstacles and problems encountered in the past and in coordination and cooperation with the Central Bank of Iraq , who mocked a lot of time and effort to cooperate in order to achieve sustainable development and financial inclusion and support the national economy.
the Association of banks of honor to contribute to a package of reforms economic adopted by the government and support the strategies of the Central Bank, the banking sector representation in local, regional and international activities better representation, also adopted a plan to train Association banking staffs on the most cutting – edge technology that the world is witnessing.
And it exceeded the basic tasks of the Association go to support the social aspects of entry through our people as a partner in the campaign , which was founded by the musician Naseer Shamma aim of helping the poor and needy and displaced people out of humanitarian collects does not differentiate and deliver aid to all regions of Iraq.
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rcookie (Dinar Guru) – Article: “Jubouri calling for the amendment of the Banking Act and the formation of a financial court” THIS WAS A BANKING ASSOCIATION CONFERENCE…WITH JABOURI ATTENDING AND ASSERTING NEED TO AMEND THE BANKING ACT IN PRIVATE BANKING SECTOR… SO WE KNOW WE NEED PUBLIC FINANCIAL MANAGEMENT LAW…2016 BUDGET LAW…CBI LAW…BANKING LAW…AND TWEAKING TO INVESTMENT LAW UPON PARLIAMENTS RETURN... [When would the next scheduled session for parliament be?] THE 28TH…UNLESS EMERGENCY SESSION CALLED…THATS WHEN FED COURT HEARS 2 PARL SESSION LAWSUIT.
Read More: http://www.dinarupdates.com/observer/
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Millionday (Dinar Guru) – HERE IS AN INTERESTING POINT MADE BY CBI ADVISOR THAT I LIKE AND YOU WILL TOO… “He said the ” policy adopted by the Central is the emphasis on banks to make sure the money provided sources for the purchase of the dollar that is…he explained that” the other side, which emphasizes the central bank is trying to reconcile the preservation of foreign reserves requirements has reconciled with the market price to ensure the stability of the Iraqi dinar exchange rate against foreign currencies as an important function of the central bank. ” IN OTHER WORDS THEY ARE COMPLYING TO BASEL AND APPLYING THE CBI INITIATIVE WHILE ENSURING THAT THE BANKS FOLLOW THE RULES — INTERNATIONAL RULES.
Read More: http://www.dinarupdates.com/observer/
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Banks raise Iraq’s Stock Exchange
Twilight News / general index of the Stock Exchange of Iraq ended the trading session on Tuesday at an altitude of 0.81% for the third consecutive day, to a level Al513.41 points to win 4.10 points to its value.
It was treated at 1.094 billion shares valued at 768.45 million dinars, distributed over 469 transactions.
Issued gainers Tigris and Euphrates Bank by 9.09%, as the Iraqi Investment Bank rose by 7.14%.
In contrast, the losers Gulf Insurance shares issued by 2.78%, and the Asia-Cell Telecom dropped by 1.12%.
The general index of the Iraqi market for securities trading closed Monday, a rise of 0.73%, a winning 3.70 points, reaching the level of 509.31 points.
Read More: http://www.dinarupdates.com/showthread.php?36082-Banks-raise-Iraq-s-Stock-Exchange
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tlm724 (Dinar Guru) – Article: “World Bank: The new labor law in Iraq, acknowledged the international world-class” Quote: “the World Bank, said on Sunday that the new labor law in Iraq, acknowledged the international world-class sought the World Bank to be transferred to Iraq.” *hallelujah* I’m loving the WB right now…thats exactly what Iraq needed, someone to hold their hand and talk them through these complicated laws!
Read More: http://www.dinarupdates.com/observer/
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For a peek at all the most up-to-date DU News – check the Iraq News Thread (in the forum)…
http://www.dinarupdates.com/forumdisplay.php?5-Current-Iraq-NEWS
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MPs call for the Federal Court to quickly decide Bgelsta Parliament
Parliamentarians called on the Federal Court to expedite the issuance of its decision binding on the different sessions of Parliament in connection therewith, which is experiencing the political process and a clear reluctance by not deciding the legitimacy of the sessions of Admanma.
The Federal Court earlier announced to postpone consideration of the appeal proceedings Bgelsta the House of Representatives to the 28th day of the month of June, and, as pointed out that the experts asked Amhalam until the 26th of the same month to submit their report to the court. National Alliance MP Ali Keywords called on various political blocs and parties within the parliament not to suspend the work of the Council on the decision of the Federal Court.
The importance of the work of parliament
Keywords and said a special speech «morning»: The House of Representatives should continue its work naturally and can objecting blocks waiting for the court decision, and even support for the legitimacy of the blocks could have to wait and be the court’s decision is binding for all », adding that there should be a consensus between the blocs a political solution that would satisfy both parties prior to the meetings of the Council and not to wait for the court’s decision and confirmed that there was no Keywords there’s interest in disrupting a parliament sessions.
The MP for the Reform bloc Mohammed Chihod he expressed the hope that the Federal Court decision in favor of the Iraqi people, noting that its decision to convey the quantum leap the political process as well as verification of the citizens as demanded by the reforms.
He Chihod »Sabah»: The start of the legislative term of the parliament without a court decision would disrupt the work of the Council so we will pressure off the Federal Court resolved its decision in favor of the Iraqi people and not to put themselves stance embarrassing in front of the people who suffered from the many ravages and still suffer under difficult crises have demonstrators came out and protested, demanding the application of attempted reforms.
The integrity of the Iraqi judiciary
He added that there is great pressure exerted on the Federal Court by the other party and from international forces want to go out in different directions, but the great hope for the integrity of the Iraqi judiciary to put the political process as a whole on serious reform, especially as the decision would be binding for all depends upon the future of the political process as a whole, as the approach of quotas ugly can be exceeded or install based on the result of the court’s decision, as well as is the promised reforms project.
For his part, Kurdistan Alliance MP Bakhtiyar Shaways parliament put the day depends on the decision of the Federal Court, expected to be resolved Court decision later this month, saying »Sabah»: that everyone is waiting for the court’s decision to settle the matter, where the House of Representatives legislative term will begin to exercise its role the required”.
He added that the Kurdish blocs did not have any problems to come to Baghdad and to participate in the next legislative term, stressing their keenness to start the functions of Parliament and the work that needs to negotiate and understanding between all the political blocs.
Front reform
The MP for the so-called Front reform Mansour Baaja that there are significant internal and external pressures exerted on the Federal Court by the blocs and parties that see the survival of interests depends on the survival of the Presidency the article, saying in a press release that embarrassing the Federal Court by the front of reform for its evidence and documents irrefutable that the presidency meeting legal and constitutional session, because of the pressure by the second party of the claimants to keep al-Jubouri, which will decide the last decision.
He added that all the documents and evidence that we have provided confirms the constitutionality of our meeting and was on the Federal Court, but are affected by the pressure exerted on them and decide the decision in our favor, as decided by the issue of former MP Mohammed al-Daini it did not refer to the disks and imaging, but relied on the signatures submitted to them, asking the court resolving the matter,
especially as the signatures submitted signatures are alive and there is no deputy of the signatories presented by the objection, noting that the Federal Court is very embarrassing and wait for there to be a compromise between the Al_khasme and not have that matter resolved itself.
Read More: http://www.dinarupdates.com/showthread.php?36086-MPs-call-for-the-Federal-Court-to-quickly-decide-Bgelsta-Parliament&p=154822#post154822
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Economic Council: the face of the central banks to buy bonds to cover the shortage of cash
BAGHDAD / Economy News … Iraqi Economic Council, announced that the central bank face of government banks buy and deducting all private companies private sector bonds, noting that it will cover a large part of scarce liquidity, while the Securities Commission decided to suspend seven contribution from trading companies for “failing to comply with the instructions of financial disclosure “.
Council President Ibrahim al-Baghdadi, said the Central Bank of Iraq face three government banks Rafidain and Rasheed Iraqi and commercial purchases and deducting all the special government bonds that will be issued and paid for private companies instead of late financial dues to these companies, amounting to 50% of the total dues as a down payment.
“He added al-Baghdadi, “The total amount of these entitlements amounting to 3.5 trillion dinars, roughly where it will be liquidated into cash to be this step rewarding and meaningful to private companies after the great damage to this vital sector, due to delayed payment of dues by the government.”
He pointed Baghdadi that ” these amounts will cover a large part of scarce liquidity, which would move the wheel and the movement of financial trading in the markets of all, in addition to that they will solve many of the social and tribal and legal problems, “stressing that” the central bank pledged to the banks to cover any need or shortage of cash has for the purpose of completing the acquisitions and deducting all these bonds from their owners. ”
The central bank issued in, (15 March 2016), internal and national bonds to finance the deficit in the public budget for Iraq as a result of falling oil prices to below $ 30 per barrel.
In turn, economist Mohammed Abdul Latif Al-Ani said in an interview for the “long”, that “the process of selling national bonds to the private sector will contribute significantly to the provision of liquidity needed by the government for the benefit of most of the local economy of the country.”
He added that “the government out of monetary distress supports recovery of various economic sectors, increasing the investment of the private sector, which depends on the financial institutions of the state in the process of the evolution of his opportunities.”
He said al-Ani said “the government budget’s deficit of more than 25 trillion dinars paid to finding alternatives which put national bonds, which can be directed to activate the production of industrial, agricultural and tourism sectors we have are from the Central Bank of Iraq to the government to contribute to the plug.”
Ani called on the government to “educate the public towards the acquisition of national bonds because of its financial sedate documented period of time specified interest rate is relatively good.”
He said the “Optional savings by citizens to provide financial institutions the government cluster of large cash without the need for external borrowing, which not only fills only a fraction of the expenses of the government sectors.”
The Central Bank of Iraq, and the head office in Baghdad and has four branches in Basra and Sulaymaniyah, Irbil and Mosul, he founded the bank independent Iraqi under the Central Bank of Iraq Law issued on March 6, 2004, and is the responsibility of the bank is responsible for maintaining price stability and the implementation of monetary policy, including exchange policies exchange and management of foreign reserves and the issuance of currency management, as well as to regulate the banking sector.
For her part, the Securities Commission, the Commission decided to suspend trading in shares of companies (Iraqi Date Processing and Marketing, transport petroleum products, Bank of the economy, the electronic industries, the Iraqi seed production, modern paint industries, Almahj financial converter) for failing to comply with instructions of financial disclosure and corporate ” .
And it called on the Commission, companies in hot areas to “provide disclosure by the Chairman of the Board of Directors for the overall situation for the company to be returned to circulation of a (modern construction materials, household furniture industry, construction materials Fallujah, Mosul, to the cities of games).”
The agency said it “decided to suspend trading in shares of companies (Iraqi financial transfer, the trustee of the financial transfer, United Arab financial convertible, Sama Baghdad fiscal transfer) after the registrar of companies endorsement of the decision of the General Authority for companies to change the activity of the company from Mali convert into an Islamic bank after the issuance of capital increase. ”
Read More: http://www.dinarupdates.com/showthread.php?36077-Economic-Council-the-face-of-the-central-banks-to-buy-bonds-to-cover-the-shortage-of
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CURRENCY CODE SELL BUY
Dinar to USD – Dinar Value – Iraqi Dinar “IQD” listing
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1337.315 | 1336.646 |
| British pound | GBP | 1743.568 | 1742.696 |
| Canadian dollar | CAD | 922.141 | 921.680 |
| Swiss franc | CHF | 1232.662 | 1232.046 |
| Swedish krona | SEK | 143.595 | 143.523 |
| Norwegian krone | NOK | 142.695 | 142.624 |
| Danish krone | DKK | 179.848 | 179.759 |
| Japanese yen | JPY | 11.354 | 11.349 |
| Special Drawing Rights |
SDR | 1676.632 | 1675.793 |