Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.
Word for the day…
Mrs. BGG
Iraqi Dinar/Dollar auction 12-06-16 (most recent listing)
Currency Auctions Announcement No. 3333
This daily currency auction was held in the Central Bank of Iraq on the 12-06-2016
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 36 |
| Number of remittance companies | 15 |
| Auction price selling dinar / US$ | 1182 |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 150,044,142 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 150,044,142 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/observer/
______________________________________________________________
Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted. – R.W. Emerson
*** Current News ***
Follow us on twitter @DinarUpdates !!
Don’t MISS – “DU NEWS TIME” w/MadDScout, 1 Booby & More!! – Dec. 8th 7:30pm EST – In DU CHAT!!
www.DinarUpdates.com – save as favorite
Kaperoni (Dinar Guru) – Article: “Finally .. withdraw your money in Iraq from ATM” Quote: “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.” Good news. Project “chucked” or project “divide” whatever you want to call it has been talked about for several years. Finally, it is operational. ATM’S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq’s banking system online and up to speed with the rest of the world. For those who say “Iraq never accomplishes anything,” this is a milestone.
Read More: http://www.dinarupdates.com/observer/
Central bank: we have stopped hundreds of companies after the discovery of corruption
CBI administration has warned of the repercussions of non-compliance with the legislation of laws and regulations to combat money and risks in creating channels for laundering financing of terrorism offenses.
He said the central bank governor on the Keywords, during a press conference on the sidelines of the Forum of compliance and anti-money laundering and terrorism financing in Iraqi banks and financial institutions, that “Iraq’s banking and financial institutions, compliance with anti-money laundering and financing of terrorism.”
He noted that the “Law No. 39 of 2015 represents a broad framework and whatever is built on the basis of what has been agreed upon with international organizations concerned with this issue.”
“The CBI has issued a set of instructions and regulations in light of this law in the financial institutions and other groups concerned with this law the banking sector.”
He Keywords that “the success of the application of the law depends largely on the nature of the deal that banking institutions with different parties, especially foreign ones,” while warning that “the risks entailed in not adhering to this law facilitates the work of the special operations of money laundering channels or various other crimes to finance terrorism “.
He stressed that “the central bank gave priority to the issue of the closure of the ports for the financing of terrorism, it has succeeded to a large extent in this context, during the last two years we have stopped hundreds of financial institutions and companies from the exercise of its work due to our discovery of the existence of cases involving suspicions of and in coordination with international parties.”
He continued, “We have developed a program linked to the international system to prosecute remittances, there are a large part of an electronic program and part of it was developed by an international audit offices with international companies.”
“The fight against money laundering and terrorist financing, the Office deals directly with the judiciary, even without the intervention of the central bank in a lot of cases that carry legal suspicions,” stressing that “these issues are fully confidential and direct follow-up between the office and the prosecution.”
In turn, head of the Iraqi private banks association Wadih Handal said during the conference that “one of the European banks halted dealings with Iraq based on irresponsible remarks of some politicians.”
BGG (Dinar Guru) – Article: “Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil” Isn’t this a little like “Water is wet”…or “we’ve agreed to do everything we’ve already agreed to do…”… correctly this time…the fact of the matter is this… the IMF is looking over their shoulder – they HAVE TO GET THIS DONE…
Read More: http://www.dinarupdates.com/observer/
______________________________________________________________
Dinar Updates – “The After Call!!”
from Mon. nite – Dec 5th
w/RCookie, Mr White & More!!
Click-N-Listen!!
Smart phone user link – Click here
______________________________________________________________
BGG (Dinar Guru) – Article: “Urgent Jubouri declared the readiness of the budget and printed for a vote” they have been working on it….it will happen…they HAVE TO – IMF is likely pushing this. [sounds like they are voting on it now…as we speak.] That is what I gathered… however, we are a world away and this is Iraq… we should wait and see.
Read More: http://www.dinarupdates.com/observer/
______________________________________________________________
House of Representatives approve the budget in 2017 has unanimously
Baghdad / term – After marathon negotiations fought political blocs throughout the day on Sunday, the House of Representatives voted on the general budget for 2017.
And wrangles final day postpone the parliament session, which was scheduled at five o’clock in the evening, more than once, until they were held at eight o’clock and lasted into late.
And it passed the House of Representatives, in the evening session, with revenues estimated 79.11 trillion Iraqi dinars budget, and a deficit of 21 trillion dinars. It was calculated as the rate of $ 42 for a barrel of a basic source of oil, of which the export of 3.7 million barrels per day, including 250 thousand barrels of the Kurdistan region of oil and 300 thousand barrels of Kirkuk. Parliament also voted to allocate $ 5 for every barrel of oil to the provinces.
The session witnessed the withdrawal of the Kurdistan Democratic bloc in protest against the non-inclusion of the Peshmerga forces allocations in Article IX, which determine the share of the Kurdistan region.
Article 9 / I that “determines the share of the Kurdistan region of 17% Seventeen percent of the actual total expenditures shown in (Table / d expenditures ruling) attached to this law and paid by the Federal Ministry of Finance and the approval of the Prime Minister.”
Article 11 of the Budget also provides that “re-examined in the share of the Kurdistan region and governorates not organized in a region in the federal budget for the year 2017 and beyond in light of the results of statistics and the census for the year 2017 to be in the light of determining the actual amount of the share of the region or province are not organized in region in the federal budget for the year / 2018 and display the difference on the Federal Council of Ministers of settlement. “.
Parliament also voted on Article 19, which prohibits the three presidencies appointments and the return of all of its members to their constituencies. Paragraph c of the same article, “Stop appointments in the three presidencies (the House of Representatives, the Presidency, the General Secretariat of the Council of Ministers and the Prime Minister’s Office), and the agencies and departments its subsidiaries, and may not be transferred services or placement at it from the ministries with the return of all employees of the ministries to their constituencies. “.
Article 33 also included a provision for the deduction of 3.8% from the salaries of state employees in general to cover the popular crowd and displaced expenses and compel the Kurdistan Regional Government to deduct the same percentage of the county staff.
Read More: http://www.dinarupdates.com/showthread.php?44162-House-of-Representatives-approve-the-budget-in-2017-has-unanimously&p=166071#post166071
______________________________________________________________
Be sure to join the Dinar Updates “private” FaceBook Group…
https://www.facebook.com/groups/571383766355188/
(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________
IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement
- IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program
- The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption
- Significantly improving public financial management will be important
The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The Board also completed financing assurances review under the SBA. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval) was approved in July, 2016 (See Press Release No. 16/321) . The Board’s approval enables the disbursement of SDR 455 million (about US$617.8 million).
As part of the completion of the first review, the Board also approved Iraq’s request for a waiver for the non-observance of the continuous ceiling on new external arrears, and request to modify performance criteria. The Board also approved the request for a waiver of applicability for end of September targets of four performance criteria on the floor on gross international reserves (GIR) of the Central Bank of Iraq (CBI), the ceiling on net domestic assets (NDA) of the CBI, the ceiling on the stock of outstanding arrears to international oil companies and the ceiling on the stock of gross public debt, as well as a request for the rephasing of the arrangement.
Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.
Following the Executive Board’s decision, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement:
“The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. In the external area, the authorities are maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been mixed; however, understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation, together with strong international support, will be key.
“The revised fiscal program in 2016 and the draft budget in 2017 are aligned with the SBA. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure, including the payroll and pension payments, and reforming the electricity sector, subsidies, and state-owned enterprises, in order to make room for larger but more effective and efficient investment expenditure that is conducive to growth.
“Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.
“Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating exchange restrictions. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.
“Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.”
______________________________________________________________
Iraq:
Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding
______________________________________________________________
| CURRENCY | CODE | SELL | BUY |
| US dollar | USD | 1182.000 | 1180.000 |
| Euro | EUR | 1264.976 | 1264.344 |
| British pound | GBP | 1504.922 | 1504.170 |
| Canadian dollar | CAD | 890.597 | 890.151 |
| Swiss franc | CHF | 1170.529 | 1169.944 |
| Swedish krona | SEK | 128.584 | 128.520 |
| Norwegian krone | NOK | 140.803 | 140.733 |
| Danish krone | DKK | 170.033 | 169.948 |
| Japanese yen | JPY | 10.387 | 10.381 |
| Special Drawing Rights |
SDR | 1604.931 | 1604.129 |