" The Dinar Daily ", Sunday, 2 February 2014
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Thread: " The Dinar Daily ", Sunday, 2 February 2014

  1. #1

    " The Dinar Daily ", Sunday, 2 February 2014


    Currency Auctions

    Announcement No. (2590)

    The latest daily currency auction was held in the Central Bank of Iraq on the 2-Feb-2014 results were as follows:

    Details Notes
    Number of banks 19
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 155,034,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 155,034,000
    Total offers for selling (US$) -----

    Exchange rates ( 1,222 POSTED FOR YESTERDAY AND TODAY )

    Dollar's exchange rates / in Baghdad markets


  2. #2
    Araji: heads of political blocs agreed to pass Retirement Law on Monday

    02/02/2014 13:33:00

    BAGHDAD / NINA / The head of the Ahrar parliamentary bloc, Bahaa al-Araji said that " the heads of political blocs reached an agreement to pass the Retirement Law in Monday's session of Parliament ."

    He said in a press conference : "The heads of political blocs confirmed, in a meeting held today, that tomorrow as the date for the vote on the Retirement Law unanimously during the parliament ," noting that " the problem of the budget is not solved so far ."

    On the subject of five dollars , he said: " If the government is serious about this issue, it was supposed to put the ratio in the budget before sending the bill to the House of Representatives . "

    He added, "The government , after public and political and religious pressure, wanted to amend this paragraph ."

    On the situation in Anbar he said that "Iraq is a target and the focus point of targeting is Anbar through the presence of ISIS and al-Qaeda ." Noting that " the government should be frank with the people about the situation in Anbar ."


  3. #3
    Compete with international banks

    1/2/2014 0:00

    BAGHDAD - morning
    The head of the Association of private banks in Iraq, Adnan Chalabi said the private banking sector will be a competitor for global banks mean that the local market.
    He said Chalabi, in an interview for the (morning) that the international banks that have opened branches in Iraq working in the best banking technology world, pointing out that the Association is aware of the reality of entering banks global banking to the country and the requirements of the next phase of efforts to gain access to our products banking to the same level offered by banks International in the country.
    He added that private banks were able to raise their capital and now has high amounts of money required to invest in projects develop the local economy.
    Recall the last period has seen the entry of banks into the country a global, most recently the British Standard Chartered Bank, as well as other global banks on its way to enter the country.


  4. #4
    Economist calls for financing small and medium enterprises to achieve development meeting

    02.02.2014 - 2:24

    Called for an economist to financing small and medium enterprises to achieve social and economic development
    He said Dr Sadiq Rashid al-Shammari member of the administrative board of the Association of Iraqi banks and a member of the International Union of Arab Bankers and the Director General of the National Bank of Iraq said in a statement to justice to his participation acting Banking Conference of the Union of Arab Banks, which was held recently in Sana'a, presented a working paper entitled (strategic orientation of the Islamic banks finance small projects and medium to achieve social and economic development) because of its significant role in the GDP and create jobs for the unemployed and an increase in the size of the growing investment and the economic expert d. Sadiq Rashid al-Shammari the importance of the experience of Islamic banks in supporting and financing small and medium enterprises, which have become an important part of the market share of the banking sector in general. Shammari said, "The conference discussed the formulas and products of Islamic banking and its role and influence in supporting and financing small and medium enterprises." Explained " During represent Iraq at the conference which confirmed the importance of the experience of Islamic banks in this area, which has become an important part of the market share of the banking sector in general and the success of the introduction of channels new economic vitality helped Islamic banks succeed at the international level and regional level. "and Al-Shammari said that" Conference discussed issues related to the sector, banking and the economy in general, in addition to the search formulas and products of Islamic banking and its impact in supporting and financing small and medium enterprises. "and pointed out that" the statement of the Union of Arab Banks in this regard, he pointed to political and social changes taking place in the Arab world, which resulted in a lot of economic challenges, which affected most of the economic structures and highlight those challenges, the importance of the role to be be played by small and medium enterprises in the support and development of the economies of the Arab world, where experience has shown that these projects are more capable of large enterprises to survive in the face of changes and economic crises. "He Shammari the importance of the reality of small and medium enterprises in the Arab world and the role of the banking sector and Islamic banking and regional and international organizations in supporting the development of such projects to serve the Arab economy and hence the need to facilitate the acquisition of these projects to funding both the mechanics of traditional financing or Islamic modes of finance. "and said Shammari that operate on the principle Islamic banking has witnessed during the last decade developed effectively, pointing out that Islamic banking was consistent with the wishes of most societies, which do not want Bachirfah usury and because of its diverse products check the economic feasibility is required. said that Islamic banks contribute more or less in balance sound economic By linking funding to operate and control balanced between supply and demand, which leads to contribute to the stability of the investment economic with cash flows and commodity real balanced and in sync at the same time, rather than relying on the sale of cash cash and cases of monopoly, fraud and ambiguity in transactions and benefit the rich at the expense of the poor . promise now, and after years of labor and difficult experiences leading experience and successful as the financial industry developed at the international and Islamic world have successes in achieving growth of banking and socio-economic development and human resource development and investment optimization of energy and capacity and the elimination of unemployment. stressed Shammari, the need to improve financial control procedures and raising the degree of confidence and competitiveness to develop financial products and invent new mechanisms in the field of Islamic banking industry in accordance with the principles of Islamic law. said: that the law is the cornerstone of the life of a free and dignified so find Islamic banking based governance mechanisms internal implemented through the meetings of the Board of Directors appears competence, experience and work for the benefit of their banks instead of freelance work and rely on the distribution of property rather than the concentration in the hands of a few in order to not be a state between the rich only. pointed to the need to maintain how to manage bank liquidity so as to achieve social returns of human values ​​and educational satisfy shareholders and bring benefits for the unemployed and do not forget the right of the liquid and the deprived. said created banks Islamic kind of banking did not exist before in the traditional banking sector, as banks have introduced Islamic foundations deal between the bank and its customers adopt the principle of participation in the profits and losses as well as to participate in the effort by the two parties rather than the foundations of dealing traditional based on the principle of the debt (the debtor / creditor ) and make money only, without participating in the work. said: ruled out Islamic banking principle interest conditional and predetermined in the origin of capital, whether in cash or an isotope increase in the term and wait any swap purse money and increase without the mediation of a commodity as adopted the principle of profit wife, who is a result of operations Selling the project, which is the increase in out of the money-peer Tkulaibh and move and subjected to various risks through its no-profit, which is in accordance with the principle of partnership in the profit and loss of any base sheep., and pointed out that the Islamic banks have created systems to handle the investment in all sectors of the economy which formats investment Islamic Murabaha and participation and speculation istisna to other types of formats investment suitable for use in all activities. confirmed Shammari the importance of having Islamic banks to meet the desire of communities to find channels to handle the banking away from the use of interest rates, and find a place to apply the jurisprudence of transactions in banking activities, as a practical application of the foundations of the economy Islamic, through the link between money and work and effort and science, can also limit the functions of Islamic banks function of providing banking services needed by its customers include management of current accounts, transfers, letters of credit and sell currencies and handle external and granting guarantees and pointed out the main functions of Islamic banking, which are summarized in the function of investment and include management of funds accounts speculation and the money is deposited in the account own posts. either job cash include financial management as the function of maintaining adequate liquidity for the bank, and this combined represent production centers main activities of the bank and backed Centers Support Services and of Public Administration and the inspection and management of the branches and the legal department and administrative services and planning, research and watchdog legislator.


  5. #5
    Bankers: the enactment of the deposits will develop private banks

    Ali Salman - 02.02.2014 AD - 4:04

    Bankers expect, and economists that the bill achieves bank deposits, a shift in the economic reality of the work of private banks in Iraq. She said a member of the Finance Committee in the House of Representatives Najeebeh Najib: The Commission is about to hold a workshop with experts and bankers, for taking their proposals on this law. He said the Executive Director of the Association of private banks Abdul Aziz Hassoun, that these banks have a significant economic weight in the country, and that the enactment of the deposit protection, will increase the confidence of depositors out, what leads to the capital increase. On the other hand, attributed the economic expert Majid picture, delayed a number of banking laws in the State Consultative Council of the weakness of professional economists in it, and that these laws in the event of approval, banks will lift capacity, and support the private economy. Among the controls set by the central bank earlier in the domestic banks that are not less than the bank's capital from 250 billion Iraqi dinars. The total capital of private banks of the 30 banks in the whole of Iraq more than seven trillion dinars. The project, to protect the deposits of citizens, in addition to a set of controls that are still working on the central bank, under this law, including the possibility of increasing the capital of private banks through deposits and government ministries.



  6. #6
    Iraqi Stock Exchange calls for the sale of government shares in the mixed sector companies

    02.02.2014 (0:01 pm)

    BAGHDAD / long-Presse
    Called on the Iraqi market for securities, banks and mobile phone companies operating in the country to put its shares through them, and called on the government to sell its shares in the mixed sector companies, to encourage capital formation and economic development is stable, indicating that the market Arbil Securities, will be opened during the year 2014 the current, which opens up new avenues for investors as they represent an independent market, but Bnavztin trading companies themselves, while financial expert saw that the market is suffering from the absence of institutions chock to reduce the unit price fluctuations and reduce the risks and increase the speed of trading.
    The head of the Iraqi market for securities, Taha Ahmed Salman, in an interview to the (long-Presse), "The trading current market divided into five sectors: banks, hotels, industrial companies and investment services sector," and expressed "hope that the fall in the market the major companies operating in the Iraq, especially those concerned with the mobile phone to make a quantum leap in the stock market. "
    Salman said, that "most banks are contributing to the market, both from banks and Assyria Baghdad and the Union," noting that "ACL, which recently joined the market, is the most prominent companies to contribute to it as well as other investment companies."
    The head of the Iraqi market for securities, that "the movement of the market is changing daily and there are there are banks or certain companies controlled by or subtracted shares more than the other," pointing out that "the market has coordinated with the Department of Central Bank of Iraq to urge other banks to contribute to encourage the formation of capital money and achieve stable economic development. "
    He called Salman, on the government to "sell their shares in the mixed sector companies, as these companies' shares are not traded in the market, causing paralysis and lack of moving the wheel of the market," stressing that "the market took the initiative to approach the advisers in the Presidency of the Council of Ministers, on the IPO sector companies Mixed trading. "
    And on the market Arbil Securities, said the President of the Iraqi market for securities, that "the year 2014 will witness the opening of that market, which will open new horizons for investors, as well as the modernization programs of the Iraqi market for securities, the performance center of Iraq through new systems lead to a quicker turnaround"
    He said Salman, that "the market Erbil will be independent, enabling investors in the Kurdistan region of buying stocks and selling them in their areas, thereby increasing the confidence in that market and the expansion of the investor base," noting that there are "aspirations to revitalize the market Erbil to urge companies in the region to list its shares where, as well as the Iraqi market for securities, they represent an independent market but Bnavztin trading companies themselves. "


  7. #7
    MPs "united" and end its boycott Najafi is the adoption of the budget and retirement

    BAGHDAD - Iyad al-Tamimi: Quorum disrupts parliament again

    MPs "united" and end its boycott Najafi is the adoption of the budget and retirement
    The President of the Chamber of Deputies president of a coalition united Osama Najafi, on Saturday, ending the boycott coalition MPs to parliament sessions.
    Nujaifi said at a news conference at the parliament building, and attended "New Morning," "I call on MPs united to end a boycott of parliament in response to the appeals of the President of the Islamic Supreme Council of Iraq Ammar al-Hakim, and the Sadrist movement and other political forces."
    "We hope that the MPs are united and the Kurdistan Alliance heavily attendance to the meetings of Parliament to pass important laws and Kalmoisna Unified Retirement crisis and Anbar."
    In the meantime, that does not work the House of Representatives, for about two weeks, to hold one session in order to read the budget first reading, after the rejection of the Kurdistan Alliance, yesterday, the entry hall of the parliament, which includes a table of its federal budget law, declined to a coalition of state law is also about attendance attributing this to not to include the budget bill on the agenda, accusing Najafi disable deliberate about the legislative role.
    With the failure of the meeting of the leaders of the blocks, which was held yesterday morning to reach any agreement on the legal budget and the Unified Retirement, as the meeting was dedicated to discuss these laws, revealed the Finance Committee about the existence of sharp differences between the political blocs on the paragraph salaries of MPs pensions usually that these blocs say things contrary means Information about what his plans in the Finance Committee.
    A member of a coalition of state law, the Attorney Haitham al-Jubouri told the "New Morning" that "the Kurdistan Alliance insists on not read the budget first reading despite that this is the context of putting the rules of procedure of the Council to pass laws," noting that "the controversial paragraphs that within the budget is one of the terms of reference the executive committee does not have the financial nor any party parliamentary powers to resolve disputes Arbil and Baghdad. "
    He added Jubouri, a member of the parliamentary Finance Committee that "the Finance Committee is able to transfer some of the allocations in the budget, but we can not add any amount," revealing "the possibility of increasing the budget to 174 trillion instead of 136, after the allocations of five dollars for" eight "provinces of oil-producing ".
    On the possibility of delayed budget Jubouri explains that "the discussion and address the gaps better than to endorse a short time and are exposed to challenge from the political blocs or the federal government," noting that "dialogue is the only that will resolve the differences between the center and the region."
    For his part, House Speaker Osama Najafi, for the inclusion of the General Budget Law for the current year and the consolidated pension and social protection, as well as discuss the crisis in Anbar on the agenda of the parliamentary session next Monday, calling on all parliamentary blocs to the audience to vote on those laws.
    In turn, announced a coalition of state law, constitute a special committee to communicate with the rest of the political blocs for the purpose of solving the problems outstanding in the budget bill laden presidency of the parliament and disable the Unified Retirement Law.
    He held coalition chairman MP Khalid al-Attiyah told a news conference at Parliament House attended by "New Morning" Presidency of the Council of Representatives disable reading vote on the budget and consolidated public retirement law for not Aderjhma on the agenda of today's meeting. "
    "The delay in the budget and approval of the General Retirement Law borne as well as the presidency of the Council, blocs boycott of meetings, the Kurdistan Alliance, the coalition united, calling for the two blocs to return to attend the meetings of the Council for the purpose of reading the budget and show notes it after reading it," he said, adding that "the insistence of the blocks on the Disable the budget and public pension affect its approval, and consequently affect the interest of the country and the people at large. "
    For his part, Head of the Chairman of the Finance Committee MP Haider al-Abadi about the existence of a paragraph different between the blocs, a paragraph retired members of parliament, and special grades, as it calls for some of the blocks strongly put clauses in the law gives these pensions, which itself calls for the abolition of pensions in the media. "
    The Deputy to the Kurdistan Alliance, expressed surprise at the government's solution to the problem of oil-producing provinces, "a few hours", while kept the problems between them and the same region, indicating that the region continuously negotiate with the federal government.
    The MP said Azad Abu Bakr in a press statement, said that "the right of oil-producing provinces to demand Pal 5 petrodollar, in accordance with Law No. 21, as amended, and this is a natural right to it, but the federal government was quick to resolve this problem within hours, but our problems and our demands have remained as it is, despite that the negotiations are still ongoing between Baghdad and Erbil. "
    He said Abu Bakr, "we wait to solve these problems through negotiations and return to the Constitution and the laws, and if not resolved, we'll parliamentarians trying to modify some of the paragraphs punitive included in the budget, and we will insist on our demands, and if you did not get the desired results have not left our only not to vote on the law about In general, the least we can do. "
    The MP for the Kurdistan Alliance that "the head of Government of the Territory Barzani stressed that ongoing negotiations with the federal government, and we hope that we get to the result," pointing out that "Barzani assured that we seek to resolve our problems through understanding, we believe that the new regime in Iraq federal and gives the right and powers to the regions and provinces, as stipulated by the Constitution, but the brothers in Baghdad have another opinion. "
    A parliamentary source said to the reporter's "New Morning" in the House of Representatives that "the withdrawal of Kurdish blocs from the parliament session yesterday, as well as the continued boycott block are united, and the objection of state law on the agenda, which did not include the federal budget law, and not entering the parliament sessions I gather factors helped disrupt Parliament and not to hold a hearing.


  8. #8
    Sami al-Araji: the success of the oil sector, key to the success of the rest of the investment sectors Investment

    Authority Chairman Sami al-Araji

    02/01/2014 15:26
    Tomorrow's Press / Baghdad: The president of the National Investment Commission, Sami al-Araji said the success of the investment in the oil sector is the success of investments in Iraq.
    They said for "tomorrow's Press", on the sidelines of a seminar of the Iraqi Institute for Economic Reform, "The investment is the process of attracting money to work in Iraq and thus move the markets and bring the currency and run Alajdaamlh and ward off inflation, economic and RFM level of per capita income, and this is what successful investment in the oil sector in the country to accomplish an important indicator for the sector. "
    He added that "the success of this sector and to achieve these figures task which will encourage investors in other sectors to enter the Iraqi market, which traded mainly by more than 30 billion dollars in the oil sector alone, and this figure opens the appetite of investment to develop a foothold in Iraq through various investments."
    He said, "This thing we sensed through the desire of many countries and international companies to work in Iraq in the sectors of housing, infrastructure, electricity and other sectors, investment opportunities in Iraq."
    It is noteworthy that all the countries of the world make use of investment to create and complete projects, which helps the recovery in this area.


  9. #9
    Anbar and the budget crisis and the retirement tops the agenda of tomorrow's meeting

    2/2/2014 0:00

    Presidency of the parliament: You can not re-budget law to the Government
    BAGHDAD - morning - Shaima Rashid
    Al «morning» from informed sources that the Presidency of the Council of Representatives included files needed Anbar and vote on the Unified Retirement Law and discuss the general budget bill on the agenda of Monday's session., And sources confirmed that tomorrow's meeting will see the passage of a law to retire after agreed upon at a meeting of parliament on Saturday.
    Parliament Meeting
    The head of the House of Representatives Osama Najafi has presided over the presence of Vice President Aref Tayfur meeting of heads of parliamentary blocs and committees to discuss mechanisms to accomplish a number of important laws, particularly the inclusion of the federal budget for the year 2014 for the first reading and vote on the Unified Retirement Law.
    He said Najafi, a according to a statement received "morning," a copy of it, the importance of expediting the approval of the federal budget and vote on the Unified Retirement Law which are of great importance in the lives of citizens, stressing that the reconstruction of the budget to the government before the read is not verifiable.
    The participants focused on the importance of overcoming obstacles to the inclusion of the financial budget on the agenda for first reading, in addition to resolving the laws that concern the people.
    The differing views gathered on the inclusion of the budget bill on the agenda, where he saw some MPs need to be included for the first reading in order to provide an opportunity for discussion and make adjustments in the coming sessions, while others felt the importance of talks between the blocks on to add to or modify some of the materials budget before listing read first.

    Unified Retirement

    The meeting came out with the views of several of the budget, including possible inclusion on the agenda at a meeting yesterday or deferred to the next meeting, in addition to the vote on the agreement on the Unified Retirement Law in a session on Monday.
    It is said that a lack of quorum led to the failure to convene the session yesterday, after MPs absent most of the Kurdistan Alliance and Iraqi MPs.
    In the meantime, called on the Finance Committee in the House of Representatives all blocs to attend the meeting tomorrow for approving the budget for the public service.
    Finance Committee member Abdul Hussein al-Yasiri pointed out that the meeting of the Council of Representatives tomorrow will be to read the first reading of the budget.
    Yasiri said in a statement the "morning": that "the State of Law coalition submitted a proposal yesterday, which is that you read the first reading of the budget, as is the vote on the General Retirement Law."
    The MP Presidency of the Council of Representatives and the House of Representatives and the blocks that delayed the approval of this law full responsibility.
    He did not rule that the witness session on Monday lack of a quorum and also the delay, calling all the blocks that are interested for the people to go to the Council Chamber tomorrow in order to read the first reading of the budget.

    Technical reasons

    In turn, said a member of the Commission on Security and Defense parliamentary Abbas al-Bayati said the budget, despite the differences in them, but they will not be returned to the Cabinet because it would lead to delayed more, indicating that the delay was due to technical reasons and not for substantive issues, expecting that are approving the budget end of this February.
    Bayati said in a statement the "morning": that "reading the budget means Advertising and formally acknowledging the arrival of the budget and open discussion to her, because without first reading can not open the door of discussion, especially that it (the budget) of interest to all Iraqis and disable read the detriment of the public interest," Indicating that the postponement was due to the budget reading things technical and not substantive.
    As on most things controversial them, He also said "things are controversial can be touched upon between the first reading and the second," he said, adding that the government has to send the decision to include the law of the "5" dollars within the current budget, leaving only the issue of the province and oil imports The proportion of the 17 percent that make up the complex dispute now, noting that there is a choice made by the federal government to the province of Kurdistan on this subject and wait for the answer about it. ruled out al-Bayati, that is to pass the budget by majority, as happened last year, despite that this is unconstitutional and illegal, but it leads to political differences in the country indispensable, calling on everyone to make concessions according to the constitutional frameworks and send a positive message in the last days of the parliament in order to pass the budget.

    An embarrassing situation

    The MP for the National Bloc white Kadhim al-Shammari has said that the issue of differences on the budget bill this year different from previous years because of the proximity elections, putting the House in an awkward position, especially that the government has pushed the budget without ending the political differences, particularly with regard to the Kurdistan province The salaries of the Peshmerga, oil and others.
    Al-Shammari said in an interview for the "morning": that "the successive visits of the President of the provincial government in Baghdad did not result in a final resolution of outstanding differences between the province and the center on entitlements and other oil and this in turn impact on the budget."
    With the problems that hinder the approval, did not rule out al-Shammari of it back to the Council of Ministers, especially as there is a newly circulating in the Finance Committee and the corridors of Parliament on this issue, noting that the replay puts the country in a new crisis, and on everyone's cooperation in order to provide sufficient flexibility to end the crisis.
    MP and threw the blame on the provincial government that deal outside the constitutional framework, with respect to the salaries and reference Peshmerga and the oil revenues, which they interact on the basis of an auction is political, not based on the law, he says.


  10. #10
    Shahristani: unresolved the issue of the export of oil region

    2/2/2014 0:00

    Describing it as «gray area»
    Baghdad morning
    New Deputy Prime Minister for Energy Hussain al-Shahristani, his assertions that Iraq seeks to produce 9 million barrels of oil a day, in what was considered the region a "gray zone" unresolved case in the export of oil so far, stressing the need to be marketed oil according to the mechanisms used in the marketing company oil. Shahristani said in a conference (the oil industry in Iraq after a decade of achievement), which was held at the Sheraton Hotel in Baghdad, said, "Although the report of Transparency International in extractive industries, who praised Iraq transparency and make it at the forefront of the world in this regard, but the area of ​​the province is still a gray area we do not know how it is where the extraction or production or export. "and added that" there is an important part of the oil reserves in the region are not developed the way that he should have it, similar to service contracts other, which was signed within the oil licensing rounds, the four have already been signed, "he said, adding that" the issue of the export of oil from the region has not been resolved until now, in spite of the existence of negotiations taking place between the central government and the province on that. "He said al-Shahristani said that" Iraq has not been able until now to reach a national agreement for the extraction and marketing of oil in all areas Iraq because of contracts signed by the province with some oil companies without the knowledge of the Ministry of Oil and the federal government, "pointing out that" the oil extracted is the king of all Iraqis, and therefore it must be handed to the government and marketed and sold in accordance with the mechanisms used by the Iraqi Oil Marketing Company (SOMO) and put revenues into the Development Fund and will be disbursed budget to all the provinces, according to the ratio of population of each province. "He Shahristani hoped to resolve the crisis for the export of oil region soon. announced the Federal Oil Ministry rejected on January 10 last year, the export declared by the Ministry of Natural Resources in the Kurdistan region and contained to be the role of the Oil Marketing Company (SOMO) is monitoring only after announcing that the province he has sold a shipment of crude oil, the amount of two million barrels at the end of the month of January last to increase thereafter to reach 4 million barrels late this February. origin of the ancient dispute between the Governments renewed Baghdad and Erbil to oil contracts concluded by the region and which Baghdad deems illegal, while the region say they are based on the Iraqi constitution and the bilateral agreements with the federal government.


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