"The Dinar Daily" 10, MARCH 2014
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  1. #1

    "The Dinar Daily" 10, MARCH 2014


    Applicants need to describe how their exchange rate is determined, whether their currency is convertible, whether foreign exchange is freely available for trade and payments purposes LINK

    HOW does Iraq determine their EXCHANGE RATE? Also some OTHER UNFINISHED business.
    ~ RED LILY ~

    IT IS CLEAR, to me, Iraq has been stuck in a vicious political quagmire and have been neglecting what is really important.

    I went back and read a lot of this and I still see things that are INCOMPLETE in the CBI and banking, investment, and tariff laws.

    It is my opinion they need to WORK WITH these agencies to be considered "INTERNATIONALLY" LEGITIMATE.

    It is my opinion, the CBI can not assign an ARBITRARY RATE to their currency and must reflect the FRUITFUL studies conducted by the IMF and WB.

    PLEASE go to the LINKS and read for yourself and SHARE YOUR THOUGHTS with us here at Dinar Updates.


    Peace & Blessings
    ~ RED LILY ~

    World Bank Iraq Trust Fund

    Implementing Agency Location:: World Bank, N/A – Institutional Support

    15110 Economic and development policy / planning

    COMPACT PRIORITY: Adopt and implement policies, legislation, regulations, procedures and build institutions of public service management

    A. The World Bank’s Engagement with Iraq

    29. Iraq has a long history of engagement with the Bank Group. Iraq was a founding member of the World Bank and IFC, and received six loans from the International Bank for Reconstruction and Development (IBRD) between 1950 and 1973 for agriculture, education, flood control, telecommunications, and transport. The last loan closed in 1979.

    The World Bank Group re-engaged with Iraq in the summer of 2003 when it prepared a needs assessment together with the United Nations (UN).

    10. Important challenges remain for the reconciliation process in Iraq

    Chief among those are:

    (a) the type of federal system to be adopted in Iraq;

    (b) the degree of devolution of powers to the regions;


    Implemented BARELY in the presidencies.

    RED LILY ~ 5-29-13.

    (I thought I took a year off??? Evidently I didn't as I dated my entry on this as 5-29-13)

    (c) the status o f Kirkuk and other disputed internal boundaries;

    ^^ ARTICLE 140 - Disputed territories ^^
    ~ RED LILY ~

    (d) the modalities and mechanisms of oil revenue management, particularly in view of (a)-(c) above 4;

    B. Implementation of Economic Reforms: 2003-2008

    TO THIS DAY, we still await the reforms.

    ~ RED LILY ~ 6-3-13

    15: The monetary and exchange rate policy stance has helped contain inflation and reduce dollarization in the economy.


    THEY ALSO WATCH: debt-to-GDP ratio



    The donor community has been active in helping Iraq in restructuring the banking sector. The World Bank has been coordinating with all development partners involved in the banking reform, including the IMF, EU, US Treasury, and Financial Services Volunteer Corps (FSVC).

    The IMF has taken the lead in monetary activities and rebuilding the capacity of CBI.

    The US has focused mainly on the restructuring and financial audits of the state-owned banks, and helping Iraq draft an operational restructuring plan.


    I BEG all of YOU ALL to READ and give us YOUR thoughts. It will HELP all of us in the long run.

    CLICK HERE For more information on the above excerpts.
    Last edited by RED LILY; 03-10-2014 at 07:14 AM.

  2. #2
    *** " Evict Maliki " Countdown is 51 Days until the SCHEDULED Election ***

    * NOTE that the countdown notice has been amended to qualify the Election as " Scheduled " to give emphasis to the tenuous state of political / constitutional affairs in Iraq in recent days and specifically the mention in the news of a possible delay in the election due to the Anbar diaspora.

    Kurdish MP confirms continuing differences between Baghdad and Arbil on budget and oil

    10/03/2014 08:41:00

    BAGHDAD / NINA / Deputy Chairman of the Kurdistan Alliance bloc, MP Mohsen al-Sadoun confirmed " the continuing differences between the federal government and the provincial on budget and oil, denying what announced by Deputy Prime Minister for Energy, Hussein al-Shahristani that an agreement between the two sides on exporting oil has been reached ."

    Sadoun told the National Iraqi News Agency/ NINA / "We are waiting for a new talks between the two governments ( federal and provincial ) to agree on contention points, which has been shrunk dramatically during the past period," noting that" the meeting of the Council of Representatives will be held next week , and during this period probably we will see an agreement between the two governments in order to discuss the budget in the meeting of the Council of Representatives. "

    He explained, " The solution to the issue of the budget is simple, but lacks a political will and responsibility," pointing out that" most of the points have been resolved , only the issue of exporting oil through the (SOMO) company, " explaining that " the Kurdistan region demanded the federal government to form a joint committee of the two governments to oversees SOMO oil export and distribute revenues fairly and send the region's share to Erbil until legislating a new law for this company, as its law does not fit the nature of the federal system in the new Iraq. "

    It is mentioned that press reports have quoted the Deputy Prime Minister for Energy Hussein al-Shahristani as saying that Baghdad and Erbil have reached a joint agreement on exporting the region's oil through " SOMO " .


    SPEAKING: Deputy Chairman of the Kurdistan Alliance bloc, MP Mohsen al-Sadoun

    continuing differences -- on budget and oil

    We are waiting for a new talks between the two governments

    most of the points have been resolved , only the issue of exporting oil through the (SOMO) company,

    AS YOU CAN SEE, Sharistani once again tells "UNTRUTHS" ☛ Deputy Prime Minister for Energy, Hussein al-Shahristani that an agreement between the two sides on exporting oil has been reached.... ~ RED LILY ~

    Last edited by RED LILY; 03-10-2014 at 09:08 AM.

  3. #3
    MP denies any Alliance between ( National Coalition and Ahrar Bloc)

    10/03/2014 10:18:00

    BAGHDAD / NINA / MP, of the National coalition, Salem Delli denied an alliance between the National Coalition and Ahrar bloc before the parliamentary elections .

    He told the National Iraqi News Agency / NINA / "The national coalition is now trying to discuss with all political forces , to form a one national front , and the issue in the process of dialogues , to clear the atmosphere before entering into parliamentary elections , denying any new alliances, but dialogues .

    MP for Nineveh added : "The purpose of forming National Front is to give hope in the possibility of changing the status quo in the post- election."

    He pointed out that "the national demanded the political forces involved in the government , to withdraw its ministers , and demanded Prime Minister Nuri al-Maliki to resign because of the deteriorating of political, security and services situation ," expressing concern for the safety and integrity of the elections. " ..

    Press sources talked about a new alliance between the " national coalition, led by Iyad Allawi , and the Ahrar bloc , to contest the next election .


    Al Ahrar Bloc - Sadrist Movement ( political platform ) :

    Last edited by RED LILY; 03-10-2014 at 09:08 AM.

  4. #4
    Iran demands Iraqi Government to deliver elements of Mujahedeen Khaliq

    Sunday, 09 March 2014 18:22

    (AIN) –Iran called the Iraqi Government to deliver it the elements of the Iranian political opposition (Mujahedeen Khaliq).

    According to the agreement concluded between the Iraqi Government and UN all the elements of Mujahedeen Khaliq Organization were transported from Ashraf camp in Diyala province to the Liberty camp near Baghdad preparing to transport them to other countries.''

    The Iranian Minister of Justice, Mustafa Bor Mohamadi, reported on Sunday ''The Government of Iran do aught to demand to deliver the criminals and the Iraqi Government will submit official request is we had to.''

    Last edited by RED LILY; 03-10-2014 at 10:10 AM.

  5. #5
    Kurdistan Region: a Last Resort for Christians, a Respite for the Vatican

    By Alexandra Di Stefano Pironti

    “Christians and Muslims have always lived together. Christians are in their house, they are not strange to us. They were always partisans, like us "

    BARCELONA, Spain – Rezan Kader recalls a parish priest she used to call uncle when she was a young girl in the Kurdish city of Sulaimani.

    “We had a mosque near our house and close to it we had a church with a parish priest who I used to call uncle,” remembered Kader, who is now the Kurdistan Regional Government’s Representative for Italy and the Vatican.

    “When I became a political refugee in France I met him again,” she said in an interview with Rudaw. “I told him, ‘Here everybody is asking me if I am Muslim.’ And he answered me that the beauty of Kurdistan was in this: ‘Nobody asked anyone anything.’”

    Many years later that sense of tolerance remains rooted in the autonomous Kurdistan Region, which has become the last refuge for some 10,000 Iraqi Christian families escaping violence in other parts of Iraq.

    For the Vatican, which is worried that one of the world’s longest continuous Christian communities in the world is vanishing due to violence and emigration across Iraq, the Kurdish safe haven has provided a temporary respite.

    The Vatican is in a delicate position when it comes to Iraq’s Christians: On the one hand, it fears the death of the community if everyone migrates out of fear of persecution and violence; on the other hand, it knows many Christians have no choice but to leave their ancestral homes following threats or anti-Christian attacks.

    “Let us fast and pray so that Christians do not emigrate from Iraq,” the Catholic Patriarch of Babylon, Louis Raphael I Sako, said in his message for Lent, the Christian period of fasting that began on Wednesday.

    “Our Christian identity is deeply rooted in Iraq's history and geography, and it has been so for two thousand years,” he observed.

    “Our roots and limpid sources are in our country; if we leave, we shall be deprived of our origins. To persevere and hope is an expression of complete faithfulness to our faith and our homeland. You must not listen to those who would bewitch you, nor those who would scare you. They do not want what is good for you,” his Beatitude warned.

    Iraq’s Christian community, estimated at 800,000 -1.2 million before the 2003 US-led invasion that unleashed a wave of sectarian violence, has dwindled to less than half that, as al-Qaeda Sunni fighters have targeted the community.

    Last Christmas, 38 people were killed in three bombings in Baghdad’s Christian areas, including a car bomb that exploded as worshippers were leaving mass.

    In October 2010, al-Qaeda fighters and suicide bombers stormed into a Baghdad church during Sunday mass, massacring 44 worshippers, including two priests and several children.

    Archbishop Giorgio Lingua, the Apostolic Nuncio (Pope’s envoy) to Iraq, told Rudaw that the Vatican is grateful to Kurdish authorities for lending a hand to the country’s Christians whenever they could.

    “We are grateful to the authorities of Kurdistan when they try to prevent incidents of religious intolerance or condemn those who do not respect it, as has been demonstrated in several cases,” he said.

    But he underscored that “religious tolerance is only a first step towards the desired religious freedom, which is much more ambitious and must be constitutionally guaranteed and implemented throughout Iraq.

    “Unfortunately, there is always and everywhere the risk of intolerance because the laws are not enough. We need to promote a proper mindset from the pulpits of churches and mosques,” he added.

    Kader, the KRG representative, said that, “Christians and Muslims have always lived together. Christians are in their house, they are not strange to us. They were always partisans, like us.”

    In a speech at the European Parliament in January, Kurdistan Region Prime Minister Massoud Barzani said that, besides tens of thousands of Syrian Kurds and Muslims from other parts of Iraq, “Nearly 10,000 Christian families have been living in the Kurdistan Region.

    “In addition to these families, 26,000 more Christian families from various parts of Iraq came to Kurdistan because of terrorism and because of their exposure to murder and intimidation,” he said.

    According to Jordi Tejel, professor of international history at the Graduate Institute of International and Development Studies in Geneva and author of several books and articles about the Kurds, Kurdish and Christian coexistence dates back many centuries.

    “The coexistence between the two groups is very ancient. Both communities have had the awareness that there are minorities and they need to help each other.”

    But he noted the awakening of radical Islam in Kurdistan over the past several years, seen in attacks on liquor stores run by Christians in different Kurdish cities.

    French expert in armed-conflict studies and international relations, Gerard Chaliand, noted that, in a very intolerant part of the world, the Kurdistan Region stands out for its tolerance.

    “Iraqi Kurdistan looks a lot more tolerant than neighboring countries in general, and has representatives of these groups (Christians and minorities) in their parliament,” he told Rudaw.

    Meanwhile, Kader said that Barzani had been received five times by previous popes. “After we have a new government elected in Kurdistan we are expecting another visit from the president. There is never an occasion when a Kurdish official visits Italy that does not go to the Vatican.”

    Three years ago, Barzani received The Atlantic Award in Rome for his role in promoting peace, stability and religious tolerance in the Kurdistan Region and Iraq.

    Despite all efforts, the Christian exodus from Iraq continues unabated.

    According to the Chaldean Church, everyday six Assyrian families leave Iraq. They do not only flee the violence against Christians, the attacks on churches – 73 since 2004 – or the sectarian strife between Shiites and Sunnis. Many who were displaced to safer regions, like Iraqi Kurdistan, are escaping another enemy: Unemployment.

    Last year Iraq -- including the Kurdistan Region -- declared Christmas a national holiday, and big Christmas trees were put up in some cities.

    But it will take more than Christmas trees to keep Iraq’s Christians from leaving.

    “Al-Qaeda is the common enemy of all the community; it’s the tumor of society now,” Kader said.

    Last edited by RED LILY; 03-10-2014 at 10:12 AM.

  6. #6



    Financial (the news): We aspire to make the Iraqi dinar portion of Alahta

    27-08-2011 01:01 PM

    BAGHDAD (Alobaah) / report / Faleh Hussein / .. aspiring financial affairs specialists that are approved as part of the Iraqi dinar international reserves, through the establishment of a strong economy boosts the value of the local currency.

    Justifying the specialists in their talk (of the Agency news) adoption of the Iraqi trader when importing the goods dealing in foreign currencies and the dollar, the euro, and that the weakness of the Iraqi economy, which led to the unwillingness of countries to deal its currency.

    It attributed the economic expert peace Sumaisem about the reasons for not trading the Iraqi currency in foreign dealings, to the weakness of the Iraqi economy and overburdened debt, noting that the Kuwaiti dinar and Jordan have become because their economies are strong, in addition to the lack of debt or internal problems.

    The khat Sumaisem in a statement to the Agency (news) on Saturday: that the Iraqi trader himself refuses to deal in Iraqi dinars when imported merchandise because it would not be desirable abroad.

    For his part, central bank adviser said the appearance of Mohammed Saleh told the reporter (News Agency for News) on Saturday: that the Iraqi dinar is not an international reserve currency until it is handled abroad, stressing We as a policy cash aspire to be the Iraqi dinar portion of international reserves and this needs a long time.

    Saleh added: that the Iraqi dinar is the local currency convertible to other currencies, that are unlikely to deal in Iraqi dinars externally at present evidence is that the instruction does not allow the central bank to remove the Iraqi dinar only up to (200) thousand dinars for the traveler.

    He said the central bank adviser that all countries of the world trade in currencies neighboring countries but narrowly, and not on any large scale to deal with a small cross-border transactions and not pay a great way to finance foreign trade.

    And likely a member of the Economic Committee and parliamentary deputy / National Alliance / Amer Al-Fayez said in a statement to the Agency (news) on the near horizon that there will be economic policy and clear visions to make the Iraqi dinar refineries stable countries, stressing that there is no law forcing the Iraqi trader dealing in Iraqi currency abroad because the issue is not related but related to the merchant and the global market.

    And between al-Fayez that which makes dealing in Iraqi dinars abroad is out of Iraq from Chapter VII and complete the form and maintain deposits and balances are now in the central bank.

    The member of the parliamentary Economic Committee: that the idea is now on the list of deleted three zeros from the Iraqi currency, and this project will hopefully contribute to give power to the Iraqi currency to foreign dealings.

    Has put the Iraqi dinar in the thirties of the last century and equated during the seventies three dollars, (YES!!! 1 DINAR = TO $3 USD... SO HANG IN THERE!!!) but later deteriorated in 1990 as a result of the invasion of Kuwait and the imposition of United Nations economic blockade is strict, loses its value quickly, and up to 3,000 dinars per dollar mid-nineties.

    The former regime printing of currency outside Iraq have been issued new bank notes worth up and after that it was the biggest number 25 dinars, was printed banknotes category of 250 dinars, which were not, in fact, equal to more than 25 fils JD from the seventies. After 2003 issued new Iraqi dinar denominations larger to facilitate transactions daily, making the 25 thousand dinars largest Iraqi currency now (the dollar is equal to 1120 dinars), but this price is still far from the ambition of the Iraqi citizen, is the deletion of zeros fastest way to raise the value of the local currency exchange against the dollar, according to observers. / End / 8. t. m /

    - See more at: SOURCE
    Last edited by RED LILY; 03-11-2014 at 02:54 AM.

  7. #7
    Parliament begins first reading of the budget bill next Sunday

    10/03/2014 11:33:00

    BAGHDAD / NINA / House of Representatives will begin the first reading of the budget bill for 2014 on next Sunday.

    A statement for the media office in the council cited that " the agenda includes the first reading of the draft law on the federal budget, consisting of / 30 / materials submitted by the committees of financial , legal, economy and investment."

    Its mentioned that the Turkmen Front MP, Hassan Auzmn announced that House Speaker Osama al-Nujaifi decided to hold a parliament session on Sunday.

    He said in a press conference yesterday: "The head of the House of Representatives decided to convene a session of Parliament on next Sunday and the budget law will be included on the agenda of the meeting ."

    Nujaifi called on all MPs to attend the meeting.



    MP of citizen bloc: the bloc will attend to vote on the budget

    10/03/2014 11:18:00

    Najaf / NINA / MP, of the citizen bloc, Abdul-Hussein Abtan said that the members of the Bloc will attend the meeting of the Council of Representatives to vote on the budget , which the head of the House of Representatives called to held on the 12th of this month .

    Abtan said in his press office that "The citizens bloc is eager to vote on the budget to ensure the provision of benefits to the Iraqi people and the continuation of service projects ."

    He called on political entities to deal with this matter seriously and putting the interest of the citizen. "

    The MP from the province of Najaf, Abdul-Hussein Abtan, wished all the political to active presence to pass the budget before the date of the parliamentary elections to be held on the thirtieth of next month .

    Last edited by RED LILY; 03-10-2014 at 10:15 AM.

  8. #8
    President of the International Committee of the Red Cross arrives to Baghdad

    10/03/2014 09:41:00

    / NINA / Head of the International Committee of the Red Cross, Peter Maurer arrived in Baghdad on Monday 10, March in his first official visit to Iraq .

    The director of the organization's office in Baghdad Kezak Powell said in a statement to the National Iraqi News Agency / NINA / : "Maurer will hold, during the next four days, meetings in Baghdad , Najaf and Erbil, with senior Iraqi officials, religious leaders and officials of the Iraqi Red Crescent Society and other humanitarian organizations to discuss the growing humanitarian needs arising due to the escalation of the violence plaguing parts of the country. "

    He added : "Maurer will also meet with Iraqis displaced and will see the progress of projects that aim to help people in the vulnerable region , north of Babylon."

    Head of the International Committee said in a press statement : "The ordinary Iraqis, especially in the remote areas , need to face the consequences of past conflict and violence that still erupt , such as those occurred recently in Anbar province ."

    Maurer appealed to all participants in the fighting to keep civilian lives and allow those in charge of humanitarian aid and medical personnel to perform their duties in a safe environment .


    *** The Red Cross could be helpful in identifying refugees / the displaced from Anbar province as part of a voting methodology / plan ***
    Last edited by RED LILY; 03-10-2014 at 10:17 AM.

  9. #9
    Araji describes Religious Authority's call to bring about change during next elections as "Duty"

    Monday, 10 March 2014 11:21

    Baghdad (AIN) –MP, Baha al-Araji, of al-Ahrar bloc, described the call of the Religious Authority to bring about change as "A duty to achieve the political reformation."

    Speaking to AIN, he said "Change is to happen to achieve the interest of the citizens where the Religious Authority did not interfere in the political process and rejected to receive the political figures, but when it comes to the citizens' interests, it called for changing the current situation into a better one."

    Last edited by RED LILY; 03-10-2014 at 10:19 AM.

  10. #10
    Mashhadani: a lot of people refuse to participate in the elections because of the failure of the government and parliament

    10/03/2014 09:02:00

    BAGHDAD / NINA / The former House Speaker, Mahmoud al-Mashhadani said "There are a lot of people refuse to participate in the elections because of the failure of the government and parliament."

    He told the National Iraqi News Agency / NINA / "The previous years of the work of the House of Representatives created an atmosphere apposite to its work and legislation, therefore, there are a lot of people refuse to participate in the elections because of the failure of the government and parliament in providing security and services."

    Al-Mashhadani explained that " the cards of most of the political parties are revealed to the public, therefore their chances are so weak to win in the next parliamentary elections."



    Mashhadani calls media outlets to adopt patriotic statements, elections propagandas

    Sunday, 09 March 2014 19:58

    Baghdad (AIN) –The Former Speaker of the Parliament, Mahmoud al-Mashhadani, called the media outlets to adopt the patriotic statements that focus on national unity.

    Mashhadani's media office reported in a statement received by AIN ''Mashhadani hosted several journalists and directors of media outlets at his office where he called the media outlets to focus on national unity and elections propagandas.''

    ''The media outlets should compete in reporting the plans or programs of the political entities and to avoid any accusations which mostly aim at discrediting other politicians,'' the statement concluded.

    Last edited by RED LILY; 03-10-2014 at 10:21 AM.

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