" The Daily Dinar " ..........WEDNESDAY, 03 July 2013

[BGG]

Governor of the CBI: Gold reserves outweigh $76 billion in foreign currency reserves

Detect Iraqi Central Bank Governor / Agency Abdul Basit Turki, Wednesday, that the stock of Iraq’s largest gold from the tally of foreign currency, confirming the assignment set of files of corruption at the central bank to the judiciary, adding that the exit from Chapter VII will allow us greater flexibility discretion, noting that the project raise zeros from the currency has been postponed for the time being.

Said Turki in an exclusive interview with “Obelisk” of Karbala that “Iraq has stocks of gold is greater than the tally of foreign currency and gold reserves of Iraq is managed by the central bank and deposited at the Bank for International Settlements as an agent of the Central Bank,” noting that “Iraq is the owner of the treasury now, even before getting out of Chapter VII and the gold before a proportion of 10% of stockpiling reserves of the components of the Central Bank and Reserve President consists of foreign currency and is used to determine the exchange rate of foreign currency احتياطنا until last May $ 76 billion of hard currency. “

“Referred to a set of files of corruption at the central bank to eliminate was indicted for some officials for corruption some verdicts have been issued in the first case, as has been bringing in some of the issues managers of private banks to investigate.”

Turki denied “the existence of frozen funds outside the control of the Iraqi administration,” stressing that “the frozen funds being diverted down according to the UN resolution both before and out of Chapter VII or beyond to the fund managed by the Central Bank of Iraq.”

The Turkish that “out of Chapter VII will allow us the freedom to act greater flexibility in addition to creating a general atmosphere to attract foreign investment,” adding that “the great importance is the completion of Iraq’s sovereignty because Quana under the provisions of Chapter VII offered for the intervention of international forces in some of the decisions on Iraq , “and that” the withdrawal of Iraq from Chapter VII-VI means the problems could be solved bilaterally with countries without international intervention and this is an important step on the level of Iraq. “

He revealed that “the financial statements did not send to the Central Bank in spite of our demand so we asked for statements until 30/6 did we receive until now.”

He said that “the relationship between the value of the currency and issued on the basis of the existence of the gold content disappeared since 1971 and thus value of the currency depends on two foundations of the strength of the economy and the ability to maneuver through the presence of foreign currencies can be pumped in the market.”

And that “Iraq’s budget going to rise,” expressing his confidence in “through my follow up of the accounts of the Ministry of Finance stocks, roundish and unexpected revenue sufficient for the implementation of the budget, even if 100% exhausted.”

And money laundering, said Turki that “been sentenced two of the defendants laundered the money and there are still four people accused of directly we have begun to audit the transactions since we receive the task of the central bank and returned to the transactions ancient that we believe the existence of problematic where we have discovered the existence of Notes basic Fastqdinma managers commissioners and officials banks and Naakecnahm in these observations and احلنا to eliminate from not convinced Bhjajhm “.

Turkish revealed “to postpone the project raise zeros from the currency and the value of the Iraqi dinar toward climb to more power because we passed the bottleneck.”

https://bit.ly/10nIKCP

[BGG]

Parliament to hear issues on Kuwait tomorrow

Announced an MP for the Virtue Bloc Susan Saad said the Presidency of the parliament on Thursday and will host Foreign Minister Hoshyar Zebari, Minister of Transport Hadi al-Amiri to discuss outstanding issues with Kuwait, including the Convention on the Regulation of navigation in the Khor Abdullah channel.

She explained in a press statement received by the agency {Euphrates News} copy of it on Wednesday that “hosting, which came on the claims in the presence of ministers, will discuss several things related files outstanding issues between Iraq and Kuwait, in addition to discussing the Convention on navigation through the channel of Khawr Abd Allah and its terms, in light of our reservations Articles III and VII of them. “

The Kuwaiti side proceeded to build Mubarak Al-Kabeer port, which is located on the Khawr Abd Allah channel, which hinders maritime traffic coming into Iraq, and narrowed down to the port of Faw, which began the Iraqi government created by the professionals.

It said Saad “we are well aware that there are efforts by the government to resolve the crisis between the two countries, but it is also necessary to know the details of such endeavors and the mechanism of resolving the outstanding issues, particularly with regard demarcation unjust to the border, and the remaining debt بذمتنا of Kuwait, and the Convention on economic cooperation, and how to invest joint oil fields fairly. “

She stressed the need to “agreements in the interest of the parties and not in the interest of one party or another, and with a real intentions to Kuwait to open a new page of relations based on respect and mutual benefit, and not exploitation and try to achieve their interests at the expense of the Iraqi interest.”

The period saw the last few years a significant improvement in الثائية relations between Iraq and Kuwait, and Iraq as well as fulfill all its obligations towards Kuwait, which called on the UN Security Council to remove Iraq from Chapter VII and announced on Thursday.

https://bit.ly/10zulqm

[BGG]

Iraq Free of Chapter 7: The Good and Bad

SULAIMANI, Kurdistan Region – The lifting of the United Nations’ Chapter 7 sanctions against Iraq is receiving mixed reaction among Iraqis, with some welcoming the move and others worried about its impact, given existing ethnic, sectarian and political tensions.

Minorities have been especially concerned, apprehensive that the Iraqi government — without a leash – could turn into yet another threat, paving the way to renewed dictatorship.

Labeed Abbawy, Iraq’s former deputy foreign minister, believes that the move will enhance Iraq’s diplomatic and political ties.

“Iraq can now have normal relations and sign all sorts of treaties with other countries of the world,” says Abbawy. “We were not getting invitations from the international conferences and some countries would even deny visa to our Iraqi diplomats,” he explains.

Amir Hassan Fayaz, head of the political science department at Nahrein College, believes that the lifting of sanctions will have both negative and positive consequences.

“The positive effects will be Iraq’s ability to use the oil revenues freely, because now part of Iraq’s oil revenues goes to Kuwait as reparations for the (1990) invasion and the rest goes to Iraq’s reconstruction fund.

“Iraq will become a normal country again and will be dealt with as a sovereign state,” he adds.

Among the negative effects, he says: “Now all the countries that Iraq is indebted to can ask for payment.”

The Iraqi National Movement (al-Iraqiya), a coalition representing Sunni Arabs in Iraq, says that worries are understood, but the sanctions had to go.

“Although there are fears that lifting the restrictions will free the hands of the Iraqi government against the minorities, this is not an excuse for keeping the imposed sanctions on Iraq,” says Haydar Mulla, an al-Iraqiya MP. He says that the lifting of sanctions has been the wish of all Iraqis.

For the Kurds, the important question is how Iraq will deal with the Kurdistan Region after the lifting of sanctions. Will it use dialogue or military force in solving the issues with Kurdistan Region?

“The lifting of sanctions will allow the Iraqi army to purchase advanced weapons, we should all work on ending those sanctions,” says Sarwar Qadir, a military expert. “The Iraqi army is the army of all the Iraqis, and purchasing heavy and advanced weapons will not threaten the Kurdistan Region,” he believes.

Dindar Zebari, special representative of the Kurdistan Regional Government (KRG) in the UN, believes that lifting the sanctions does not mean Iraq is no longer under the observation of the international community.

“Iraq will remain under observation and it has to respect the role of the United Nations Assistance Mission for Iraq (UNAMI),” says Zebari, who adds, “Iraq is still not a stable country so the UN delegation will keep its presence there.”

Contrary to current belief, Zebari thinks that lifting the sanctions on Iraq will not slow down the economic, political, and diplomatic activities in the Kurdistan Region.

Peshraw Hamajan, political science lecturer at Sulaimani University, says that Kurdish fears over the lifting of sanctions are valid, since Erbil’s diplomatic ties are restricted by the Iraqi constitution. He shares the widespread Kurdish distrust of the Shiite Iraqi Prime Minister Nuri al-Maliki.

“No doubt Maliki and his government will regain full sovereignty and independence,” he says. “All the frozen Iraqi assets will be freed, with which the Iraqi government can buy heavy weapons and sign military treaties.”

Iraqi Foreign Minister Hoshyar Zebari, who is an ethnic Kurd, said that from now on Iraq is a free country, and that it will be debt-free by 2015.

In a speech after the lifting of sanctions, Maliki said that, “Iraq has become a free country and the burden of the restrictions that were implicated by the previous dictator regime are lifted.”

https://bit.ly/14p00LV

[BGG]

Bank Manager ll / Branch Officer Shares

Amos9:13 Been a while since I posted on here . Knew we'd have to see Chapter 7 released until a potential RV could take place so glad to be back!

As some of you may remember, I am a real banker (branch manager II/branch officer) of a local community bank that does have some banks in other states as well.

I want to again knock down any myths and debunk any crazy talk that hypes up newbies and some veterans alike, while giving my 2c on what I feel (as a banker/business man) what might happen on this ride.

I do have a bachelor's degree in organizational management (so I've had courses in economics and financial management). I am currently pursuing my Master's degree in business.

I've worked in banking for ten years, my job responsibilities that pertain to this investment include lending, financial management, and being in the know of what the fed is doing i.e. interest rate changes, etc. I even recently did a paper on the IQD and why I think Iraq is the next gold mine.
...

As most people do, they giggle...but if you have researched well enough like I had...that giggle turns into a *hand on chin* moment as to say...hmmmm...maybe there is something to this.

Bank Rumors

1. "I see the amount on the green scren!" While many financial institutions do use a "dos" system...it is very hard to see what you are looking at. There are several codings that may look like "rates."

I can assure you know one "looks over or sees from a distance" a rate. Unless you know what you are looking at (an employee) and you are right on top of it...you can't tell what you are looking at.

2. "I have inside sources from the bank!" Trust me...the banks don't know anything. WE get our information from the FED regarding interest rates, etc. I don't think the FED would leak information on a rate change until the day it happens.

3. "The manager pulled me inside his office!" While I do have a very few customers who are invested and love to talk to them....I'd never "pull someone in my office" to sale the dinar. Right now it's not recognizable so most banks don't deal with it.

Now are some bankers going to talk to you about future potential investment opportunities? Sure! Most banks need deposit growth so they don't have to borrow money from the fed to lend money to their customers...less expensive to have deposits on hand.

4. The notorious delarue machines!!!! I actually have a coin counter and currency counter from Delarue. Most banks do have these....do you know how long it would take to count a 20K deposit without these machines!!!!

They do have security check abilities...not sure on the dinar...but we also have blacklights to verify money orders and currency. So while the myth of these delarue machines being a "great thing" are half true...it has no merit towards the dinar Rv'ing.

The one story did have some merit previously where the man said the dinar can be verified thru a currency book. While we don't have one of foreign currencies here.....I do have one for the US id's and old/new currency denoms. I'm sure international banks do have these...so that part is true...but you could just look that up on the net.

5. "Bankers are in the know!" I've actually sat down with my SVP to see if he knew of this investment. Him and some others don't think it's going to go anywhere. So to say bankers are in the know isn't true.

He's very high up and has worked in banking for 50 years....if he doesn't know....then I doubt others do around the state here anyways which he's friends with quite a few higher ups.

I will say that there are some bankers though that do feel something is coming out of it. Just depends on the person, but bankers don't know anything more than you do as far as "intel" goes.

From a Banker/business man perspective on IQD

I am blessed enough to work around business every day. I know how business works. If you look at the IQD as a business deal, then it's easy enough to see we're going to get something out of this deal. ‘

I do believe that Iraq had a business plan that they've had help with from the UN, USA, and potentially China. The articles referring to Iraq wanting to be the number one in the Middle east, have the highest oil exports, etc. is a clear indication of a "business plan".

So what does this have to do with us? This business plan? Simple...money. Let me explain why...energy is something every country needs. We've tried solar energy (too costly, not enough titanium), water (not everywhere), coal (also a natural resource and can be costly to dig up), so that leads us with oil.

I hear the argument "Iraq can't depend on oil alone." While I do agree partially with this statement, I do have to disagree that oil can't make up for several commodities. Look around you....the world we knew it 10,15,20 years ago is gone.

Countries have went from being thousands of miles away to being in your backyard (internet, skype, cell phones). The world is the economy now, not US vs China, or GB vs Germany. If one fails....we all fail.

Nations are starting to realize that if they aren't part of the mix...they and their people suffer. The economy has become global...so Iraq is the best target for oil (especially after they are westernized!!!!, easier to deal with).


So slowly we are seeing dictators overthrown, nations coming out of third world nations and joining the modernizing world (india/brazil) and guess what? They are going to need oil...what does that mean? DEMAND DEMAND DEMAND....Supply/Demand curve anyone?

As the world continues to grow...Iraq will be supplying more oil....(look at the article about pipeline to jordan, look at exxon deal article). What does this mean for our investment is the main question right?

Here is what the world economy plays into Iraq....

-Nations will come into Iraq (WE are there, China is there, Russia coming (see airport)) increase economic stronghold

-Companies will come...look at Citibank!!! They spend a trillion to come in. Guys let me tell you...a bank doesn't come in unless they expect to make money. They don't make money unless they lend...who would they be lending to right now? Exactly!!! They are EXPECTING Iraq to become a power house.

-The world needs Iraq's economy to become stronger, this could be used to swap out a reserve currency used as IQD. The facts are the USD is not what it use to be (and will decline sharply), and the Euro is failing...who's next? China? No, they cheat and will never increase their rate...they'd lose business.\

-Iraq has nowhere to go but up...while I do believe they have 33 trillion in dinar...I don't believe that it is all "working currency". I believe they will "have it listed" until they go international (WTO) tradeable...then they will cut their losses. Do I think it's a smokescreen...no not necessarily...

I think right now they are "needing it there because they have no choice"...which is one reason they are using US dollars. While they are in transition they have to hold onto the currency. I don't even think they know how much they will need (waiting on float for dinar).

-I do feel they will allow it to free float...works in our favor anyways. As fast as Iraq's economy is spooling up...the value should increase moderately.


***Bottom line...do I think we'll be overnight millionaires...maybe not...did we make a great investment...oh yeah. While it maybe a while (2-3 years) before they get to that 1.00 mark....it's worth it. Chapter 7 was the cake coming out of the oven, HCL will be the confetti, WTO will be the icing, rate change will be the cake cutter.

Hang in there...remember this is BUSINESS! All are in it to make money, but timing is key. God is good, have faith and believe he is working in YOUR favor!

Iraq is an investment Sgt. Companies are investing their "time and money" this will in turn enrich Iraq's economy. There is also stock that you can invest in Iraq (which there was an article referring to Bloomberg).

Also the interest rates you get at Warka are MUCH better than anything you can get in the states. Right now banks are paying around .75 (5 yr cd) due to the Fed...not wanting consumers to save money (spend for velocity). So yeah...it is AN INVESTMENT depending on how you play your cards. Some do all 3....currency, stock, warka.

Here is what the world economy plays into Iraq....

-Nations will come into Iraq (WE are there, China is there, Russia coming (see airport)) increase economic stronghold

-Companies will come...look at Citibank!!! They spend a trillion to come in. Guys let me tell you...a bank doesn't come in unless they expect to make money. They don't make money unless they lend...who would they be lending to right now? Exactly!!! They are EXPECTING Iraq to become a power house.

-The world needs Iraq's economy to become stronger, this could be used to swap out a reserve currency used as IQD. The facts are the USD is not what it use to be (and will decline sharply), and the Euro is failing...who's next? China? No, they cheat and will never increase their rate...they'd lose business.\

-Iraq has nowhere to go but up...while I do believe they have 33 trillion in dinar...I don't believe that it is all "working currency". I believe they will "have it listed" until they go international (WTO) tradeable...then they will cut their losses. Do I think it's a smokescreen...no not necessarily...

I think right now they are "needing it there because they have no choice"...which is one reason they are using US dollars. While they are in transition they have to hold onto the currency. I don't even think they know how much they will need (waiting on float for dinar).

-I do feel they will allow it to free float...works in our favor anyways. As fast as Iraq's ecnomy is spooling up...the value should increase moderately.

***Bottom line...do I think we'll be overnight millionaires...maybe not...did we make a great investment...oh yeah. While it maybe a while (2-3 years) before they get to that 1.00 mark...it's worth it.

Chapter 7 was the cake coming out of the oven, HCL will be the confetti, WTO will be the icing, rate change will be the cake cutter. Hang in there...remember this is BUSINESS! All are in it to make money, but timing is key. God is good, have faith and believe he is working in YOUR favor!

Iraq is an investment Sgt. Companies are investing their "time and money" this will in turn enrich Iraq's economy. There is also stock that you can invest in Iraq (which there was an article referring to Bloomberg). Also the interest rates you get at Warka are MUCH better than anything you can get in the states.

Right now banks are paying around .75 (5 yr cd) due to the Fed...not wanting consumers to save money (spend for velocity). So yeah...it is AN INVESTMENT depending on how you play your cards. Some do all 3....currency, stock, warka.

Will we be able to use Citibank for Iraqi savings accounts, i. e. directly depositing our dinars in a US Citibank branch to an Iraqi Citibank account? Thanks.

**** Since Citibank is a national bank I'd say yes. There hasn't been an "american" bank in Iraq yet so this will be quite interesting. To me this was almost as good as the Ch7 news...if banks are coming in to lend money it either means....

A. they expect the citizens to eventually have the ability to pay back loans (very good news, RV )......and also B (they expect more companies to start up, come in from America needing lending...also good news...enriching the economy of Iraq which leads to stronger currency)....both work in our favor...

We reiterate: if you sign ANY document at the bank when you go to exchange your IQD which states that YOU acknowledge it as an INVESTMENT rather than a simple currency exchange, you will be hammered by the IRS. Look, we liked the guy's article. Thanked him for it....

But didn't want any of you getting hooked into signing the document the IRS & the Bank would LOVE you to sign stating it was an investment on your part !

Banks do not "report if you are sending in for investment/etc". Banks report interest earned on interest bearing accounts, interest expense on loans outstanding, and also (CTR's) which can be researched on the internet.

You can technically trade in dinars with your bank (for a fee...ours is 15.00) and once the bank gets the funds from the other country...it will then be direct deposited to your account.

The bank does not report on this. It's up to you and your CPA to get your taxes done correctly. The bank takes no responsibility in what you do with the money you've received unless it's earning interest which therefore the interest will be reported.

If you don't report to the IRS that you had capital gains that year...then you are playing risky games. The IRS can audit you at anytime and will submit a submit a subpoena to the bank in which the bank then has to release your information (statements etc) once a judge signs.

We all know they are all listening in on us...so do the right thing...get a CPA and go over your information...pay the taxes! Even if they don't deserve 1c at least you are free from them fining you!

lol trust me if I knew the date and rate you'd see me not on here looking at articles. My assumption would be since there have been articles referring to the poor living conditions of Iraq, they are out of Ch 7 now, talks of HCL being in the final draft, Airport potentially being built, pipeline going in, exports up, economy boost ( up 9% I believe?), previous articles about (Iraqis not being able to pull money out of banks, no money supply), Citibank and other major companies going in (look for cell phones/walmart/ and others), ...

I believe we are getting close to the finish line. We are still waiting on them to have an internationally recognized currency. I think the only thing we are waiting on is the ascension to the WTO, once that happens we know Iraq has an idea of what their currency might be worth.

By then they will also have to have in place their agreement on Tariffs/Trade. Tariffs were suppose to go into affect I believe this month...haven't seen an article...but this could be a "pre-emptive" move towards WTO.

Remember, a inspector found that there was a lot more petroleum underground Iraq than first believed. The world needs cheap oil, Iraq will supply it. I believe that's the reason for Russia wanting to help build an airport. Many nations in my opinion will want Iraq to ascend to the WTO asap.

Has more benefits for them in this way. While Iraq has been given a green light to work on its own...that still doesn't mean other countries are "not cautious".

Iraq needs the WTO, kind of like businesses like to have a BBB (Better Business Bureau) rating of an A. While it doesn't necessarily mean you can't trade...it definitely looks BETTER on paper.

Kind of like a warranty...you may not need it...but you want it if you are going to buy something expensive right? You also have to take into light things happening around the world. Look at the uprisings...these citizens have started getting access to the internet and seeing what other nations such as ourselves have.

They are demanding more from their governments or ...else they revolt. I do believe Iraq has held their citizens down to bring in dinar to reduce the money supply. I think they've cut the supply short and are having them use US dollars for now.

Auctions might show some minor signs of change, but I believe when the dinar revalues the Iraqis will want to trade. Let's be honest, muslims hate us and America...I'm almost 100% positive they don't want to use our currency. I think after the WTO ascension, a few weeks later you will see the bottom rate (maybe 600 or 500 to 1) then it will be placed on a free float hopefully going up moderately fast.

...So my opinion is hopefully within 6 months. I think they are moving fast, but there is still work to do. If the Tariffs and HCl get passed you'll see even more articles come out about a stronger dinar.

It's like a jigsaw puzzle...things are coming together slowly...but in the end the picture will be there for all to see. It's like watching a small business keep adding on to their portfolio...

then before you know it...they aren't small anymore...they've gotten huge...i.e. Walmart, Apple...you name it. What makes this investment a great one is the timing...if it was 10-20 years ago this wouldn't work...but just like the technological boom, industrial boom...

.this is the global economic boom...and Iraq has the right resources and the right investors. The rate might start off slow...but don't be discouraged. Many people said the same about Apple and Walmart "it's not going to make any money"...well look at it now.

I've started seeing things from Bloomberg, and even our investment officer ( I spoke to after they released ch 7) have started questioning their original ideas. When you present enough evidence to have investment people from the US change their minds...you're on the right track.

I also spoke to our VP over cash management and she raised her eyebrows when Citibank went over there. Guys, banks don't open branches just anywhere...they are VERY costly.

Keep patient and remember this isn't a get rich quick scheme...it's an investment in an idea that Iraq will return to their former rate. Supply/demand, grow the economy, reduce the money supply, political stability=rising rate.

They can't go down lol...in fact from 2000 to now they've went up from 580.00 per million to 980 per million...some people have already made money therefore...I debunk people who say it's a scam.

[BGG]

TD Comments on Bank Manager ll / Branch Officer Post

In Reply to Bank Manager ll / Branch Officer:

TD said:

Most all was well laid out and coincides what my GOI contact has been saying.

HCL however, is all agreed according to him. Building the foundation to uphold the platform thru means you mentioned are what they are working on. I agree.

Your time frame also is realistic since that's what I've been told : WTO this late summer/early fall, New Denoms coming out the but no later than Jan 1st, 2014.

Your float theory is THE BEST HOPE of a NON LOP because according to my source anything such as a rate of $3-4 is WITH A LOP ( 100% guarantee). Which will yield us 35-40% ROI.

So a free float of 500-1 and moving will yield better returns.
...

But it's still a moving target according to my contact . No one know yet the rates or dates.

The other big question mark according to my source is the WINDOW of them calling in the old notes because that way they'll be able to control the ROI. So you are right many variables still to unfold.

Well guys I must tell you this is one of the few articles written which doesn't make my blood boil (because it has some sense to it).

Thank you Sir for your post and I hope you will get thru to so many people (I know I've tried in vain any times).

So guys PLEASE read & reread this article and what I'm trying to disclose here. In particular to those who are in despair (my heart goes out to you).

If you are still hoping for that immediate millionaire status please get realistic. If you are in great need : find a plan B & C right now.

I don't like putting religion agendas into my writings but I'm a big believer in the expression " God helps those that help themselves". Try , try , try , sitting on your hands with a handful of notes and praying for a miracle is not going to happen.

I think in all honesty your readers will enjoy and compliment you too. We simply see TOO MUCH of the daily dose of deceit ( I call it DDD).

Thanks TD

[popeye7]

So we wait for a few more months, and possibly a year before this currency get to the 3.00 plus range as far as this individual is concerned... Well, he could be as right as anyone else who makes predictions... In our Creator's time-frame... Thank you BGG...

[popeye7]

While pondering my last post, I do wonder that if the were to "gradually" raise the dinar's value, why have they not done so already?... Why the wait or delay?... IMHO it is because they are not going to come out with a low rate... Hard revalue, then allow for market forces to raise its value... But again we wait on our Creator's timing of this....

[BGG]

Opening a New Era in U.S.-Iraq Relations

Last week, the United Nations Security Council voted unanimously to lift international trade and financial sanctions on Iraq that have been in effect since Saddam Hussein invaded Kuwait in the 1990s. Iraq's exit from Chapter VII of the U.N. Charter—and the substantial progress it has made with Kuwait—is a major accomplishment, and one of several recent developments we Iraqis are celebrating.

Though most Americans probably believe that Iraqis are fed up with the U.S., the truth is that Iraqis appreciate what the U.S. has done and are looking for more U.S. involvement—not more sacrifice of blood and treasure, but more diplomatic, political, trade, investment and economic partnership.

The next clear step is for the U.S. and Iraq to fully implement the Strategic Framework Agreement, signed prior to the 2011 withdrawal of U.S. forces, which defines the overall political, economic, cultural and security ties between our two countries. Americans should see this agreement not as a ticket out of Iraq, but as the foundation for a long-term partnership with the people and government of Iraq.

A man exchanges money at a street money changer in Karbala, near Baghdad, in June.

At a time of profound change in the Middle East, the implementation of the agreement has so far been slow and uneven. While security coordination through military sales and financing programs continues, an expedited delivery of promised sales, better intelligence sharing, and stepped-up assistance in counterterrorism and training is essential for Iraq's fight against terrorism—a clear national security interest of the U.S. Implementing this agreement should not be linked to regional issues, such as the conflict in Syria.

As we look forward to full implementation of the Strategic Framework Agreement, the legacy of the past 10 years is something to build on. After decades of dictatorship, three disastrous wars, international isolation, economic sanctions, the displacement of more than a million Iraqis and the deaths of tens of thousands more, Iraq has begun to build a multiethnic, multiparty democracy with respect for the rule of law.

It hasn't been easy. But Iraqis are making progress towards creating a democratic system. All the political parties have accepted elections as a method of power-sharing and peaceful change. Terrible as it is, the current violence in Iraq is primarily caused by terrorism, not civil war. As the recent provincial elections affirmed, Iraqis are developing a culture of democracy—something that many of our neighbors do not yet have.

With Iraq taking its place as a partner, not a protectorate, Americans can help by providing political, diplomatic and security assistance, in addition to technical know-how and investment capital.

On the political front, the U.S. can serve as an honest broker among Iraqi factions that are learning to work with each other. Americans are seen as mature partners who have proven their commitment to Iraq, and their involvement is not perceived as a threat to our sovereignty or national interest.

On the diplomatic front, Iraq has rejoined the international community by exiting Chapter VII, and it has done important work with the International Monetary Fund, World Bank and the Arab League. Looking ahead, Iraq and the U.S. can cooperate to resolve broader regional challenges.

Now that Iraq is moving toward a market economy friendly to foreign investment, Americans can provide what our nation needs: expertise on energy technologies, engineering, design, construction and financial services. Iraq offers tremendous investment opportunities for developing and servicing telecommunications, health care, education, water treatment, and bridges and highways, to name a few.

Meanwhile, oil production has increased by 50% since 2005, and our economy is expected to grow by at least 9.4% annually through 2016. Iraq expects to increase oil production to 4.5 million barrels per day by the end of 2014 and nine million barrels a day by 2020—a 157% increase from our current production levels. With the goal of diversifying our economy beyond energy, Iraq plans to invest these oil revenues in education and critical development projects, including restoring electrical power and rebuilding our transportation system.

Moreover, Iraq is in the process of purchasing over $10 billion worth of military equipment, paid for with our own revenues, and we are eager to buy this hardware from the U.S. Iraq's recent purchase of 30 Boeing BA +1.40% planes for our national carrier testifies to our potential as a market for U.S. goods and services.

Iraqis will be forever grateful to Americans for sacrificing alongside us to overthrow Saddam's brutal tyranny. We now look forward to working together to build a strong and prosperous democracy in Iraq and to cement a strategic partnership between our nations.

Mr. Faily is the newly appointed ambassador of Iraq to the United States.

https://online.wsj.com/article_email/...valettop_email