The Dinar Daily, Monday November 10, 2014
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  1. #1

    The Dinar Daily, Monday November 10, 2014

    Coins put on the market !!

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century


    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.


    [S]ecurity ministers file will be resolved soon and their selection will be exclusively by Abadi
    BAGHDAD / NINA / MP for the state of law coalition, Hisham al-Suhail said that "the issue of the security ministers will be resolved soon through the agreement of the concerned political blocs on the candidates."

    He told the National Iraqi News Agency / NINA / "The situation experienced by the country and the region urgently needs an end to this file and no to delay it too much, because it does not benefit the political process in the country."

    Suhail added that "the Prime Minister is determined to end this file and he has the final word because he has an obvious desire that these two offices should be run by professionals."

    The House of Representatives failed to vote on the candidates submitted by Abadi to the ministries of interior and defense Riad Ghraib, Jaber al-Jabri, respectively, and decided to postpone the vote on the positions until reaching national consensus.

    * More SLC " double talk " , IMO


    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:

    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.

    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:

    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.

    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

    The Republic of Iraq – Ministry of Planning


    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…

    2) the Gold Article…

    3) the IIER report…

    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.

    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.

    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.

    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…

    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??

    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.

    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”

    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??

    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 94 of the massive SIGR report.

    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________


    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country. ARTICLE LINK

  2. #2

    Re: The Dinar Daily, Monday November 10, 2014

    Currency Auctions

    Announcement No. (2813)

    The latest daily currency auction was held in the Central Bank of Iraq on the 10-11-2014 results were as follows:

    Number of banks 17
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 197,622,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 197,622,000
    Total offers for selling (US$) -----
    Market Rate 1199 !!

  3. #3

    Re: The Dinar Daily, Monday November 10, 2014

    sczin11- Just got 3rd generation, and they are calling for the FOURTH Generation NOW
    Abadi calls for the improvement of telecommunications services and lower prices, and calls to speed up the fourth generation

    (Independent) ... Prime Minister Haider al-Abadi stressed the need for there to be a fact the company between the state and the private sector, as called for better communication services and lower prices, as called for speeding up the launch of the fourth generation services.

    Ebadi said in a speech on the occasion of celebration of the start of the third generation, which was held at the Rashid Hotel in Baghdad, and was attended by (independent) said on Monday that "there must be the fact that the company between the state and the private sector."

    Abadi added that "organized crime may not be used as a pretext to determine public freedoms," and urged to "improve telecommunications services and lower prices."
    Abadi said that "the role of the state is to assign the private sector and not rival", as called for telecommunications companies to "speed up the release of the fourth-generation services."
    And won three companies in August 2007 to work in Iraq is "Zen" Kuwait and its work in the center and south, and "Asia Cell," a Gulf-Iraqi, Inc. "Cork" active in the Kurdistan region and owned by businessmen Iraqi Kurds.

    And built the third generation of standards and technology of mobile phones, on a global federation of Transportation standards in the context of the global mobile communications program "IMT-2000". Enables third-generation technologies to provide a bouquet of services broader and more advanced, and is characterized by high capacity thanks to the retina of spectral efficiency, among these services, wireless voice telephony extended coverage, and the transfer of wireless data and broadband, all in the mobile environment. (End)


  4. #4

    Re: The Dinar Daily, Monday November 10, 2014

    Abadi: The World Bank has Dorkber in achieving the government program

    BAGHDAD / Source News / confirmed Prime Minister Haider al-Abadi today, hopefully the role of the World Bank in achieving what aspire to him the government in its program to shift towards the private sector and encourage investment movement, as indicated by the Executive Director of the Bank Mirza Hassan to the readiness of the World Bank to support the development process in Iraq .

    He said the prime minister's office said in a statement issued on the sidelines of a meeting Abadi with the World Bank delegation, which represents the main headquarters in Washington and the Regional Office for the Middle East and North Africa and the IFC in the Middle East and North Africa and the Office of Iraq, and received by the agency / Source News /, a copy of which he was " At the beginning of the meeting, Abadi welcomed the visit and praised the role of the World Bank delegation in supporting development projects and economic reform. "

    He added that "the Prime Minister pointed out the role of the World Bank during the last ten years in support of joint ventures with the Iraqi government and the private sector," noting that he "stressed hoped the role of the Bank in achieving what erected to him in our government program to shift towards the private sector and encourage investment movement" .

    For his part, Executive Director of the World Bank Mirza Hassan during the statement, the "readiness of the World Bank to support the development process in Iraq, and the role is expected to support Iraq in the completion of projects and encourage the private sector," and expressed confidence in "the ability of the Iraqi economy to advance and overcome all the challenges due to the Iraq possesses the potential of natural and anthropogenic


  5. #5

    Re: The Dinar Daily, Monday November 10, 2014

    "Rudaw" Kurdish: loan five billion dollars from international banks for the Kurdistan region

    The newspaper "Hawlati" indicate that the disagreement between the political blocs still exists in the province of Arbil, the newspaper indicated that the MDC calls for the post of first deputy governor of Arbil, but the Democratic Party winning in the provincial council bloc agreed to give the movement the position of Mayor of the district center only, while The newspaper quoted the head of the change in the Council Abdul Rahman Omar as saying that according to the electoral entitlement must give them nearly (100) position in the province, while Rebaz Barcota President of the National Union bloc, said that his party got 24% of the seats and he should get a corresponding This percentage of positions.

    In another news paper that says a number of security and military commanders in the Kurdistan region have made judicial complaints against entities accused her of insulting to its reputation with regard to trade with "Daash" file, the newspaper quoted the Sta Messenger commander hub of Kirkuk to the Peshmerga forces as saying that he filed a complaint against 11 people, including MP Ali Hama Salih, while Maj. Gen. Hussein Mansour, commander axis Saadia area as saying that the region which do not fall under the responsibility of the oil wells in order to trade with "Daash" them, adding that the goal is to harm the reputation of these leaders.
    The newspaper "Rudaw" wrote that the Kurdistan region will receive a loan of five billion dollars from two banks of international resolve financial problems, the newspaper quoted a source described Palmqrb of Prime Minister Barzani as saying that the loan will be used to restore the economic structure of the region and projects to build, and that the banks of Germany and another US agreed the granting of this loan the province, adding that the Ministry of Natural Resources will work to raise the production ceiling by next March to 500 000 barrels per day.
    The newspaper "Joder" quoted a member of the Iraqi parliament Iala Talabani as saying that the Iraqi government has linked salaries Exchange province oil file, and added that two months ago of the deadline set by the Kurds to the Government of Abadi resolve the problems between the two parties have not been resolved any of these problems, and noted Talabani to Anbmekdor Iraqi government to send the budget to the province a month in advance remains the subject of salaries pending.

    In a story last newspaper quotes Saadi Ahmed beer leader of the Patriotic Union of Kurdistan, said points that the dispute between the party and the MDC has diminished greatly, and that the parties agreed to resolve the local government's problem in the province of Sulaymaniyah, while the paper quoted Mohammed Haji official diplomatic relations for the MDC saying that The meeting was told that the days of thaw between the two parties a lot of ice in their relationship, and that this convergence will be mainly to resolve the outstanding issues and problems, including the issue of local government in the province of Sulaymaniyah.


  6. #6

    Re: The Dinar Daily, Monday November 10, 2014

    Conscious / Minister of Commerce to discuss with the Iranian ambassador to the implementation of the memorandum of understanding in economic fields

    Conscious / Baghdad / m. The Search and Commerce Minister Mlas Engineer Mohammed Abdul Karim at his office on Sunday, with Iranian Ambassador Hassan Dnaii possibilities for rapid activation and implementation of the memorandum of understanding in economic and trade fields, in addition to present and discuss topics of mutual understanding between the two neighboring countries.

    According to a statement of the ministry, received (and the Iraqi News Agency Information / INA)Monday that "Commerce Minister emphasized the need to accelerate the activation and implementation of the memorandum of understanding between the two countries, especially in relation to the supply of food items that fall within the vocabulary ration in addition to helping the Iranian side to provide expertise in the field of Marketing the fact that the ministry is in the process of activating the role of central and construction markets companies by sending experts to train cadres of the ministry inside and outside Iraq. "

    Pointing to the depth of the economic, commercial, historical, cultural and tourism between Iraq and Iran relations, and about the Iranian minister pointed cars to the possibility of Iraq to import new varieties of Iranian cars specifications and more quality and durability of the vehicles imported in the past.

    For his part, Iranian Ambassador Hassan Dnaii his country's keenness to develop and expand economic and trade relations, especially with respect to the memorandum of understanding to be into force in the near future by offering prices for foodstuffs and other materials that are handled by the Ministry of Trade Offers Companies.
    Noting that the Iranian and Iraqi relations are in constant evolution, especially after the fall of the former regime, which witnessed a remarkable expansion in all economic, commercial, political, security and tourism fields.

    The volume of trade exchange between Iraq and Iran in 2013 amounted to over five billion, two hundred and sixty-three million dollars in 2014 and reached three billion, one hundred and thirty-seven million dollars.

  7. #7

    Re: The Dinar Daily, Monday November 10, 2014

    Participants: developmental regions capable of activating the economy

    In the workshop «morning» consensus on its importance

    BAGHDAD - Addressed the workshop «morning» (government program .. opportunities and challenges), which carried the war correspondent Haidar thanks and organized by the title of the morning Center for Strategic Studies in the presence of a group of politicians and economists, who stressed the need to follow the government program, especially as the symposium this workshop comes two months after the announcement.

    The program mattress and wide and included explicit signals according to d. Mahdi Keywords, who explained near the discussion of the law of the mixed sector and the industrial cities companies, he said, "when the work force is increasing in the community is a gift, but when you do not invest may turn out to be a curse."

    noting that "by 2016 will be the use of the smart card instead of the ration to get a card items ration, and we will work on that government program become in the vocabulary Five-Year Plan 2015 2018. "

    province developmental

    Wade participants spread the idea of the development of the regions as an alternative unspoken for use regional or sectarian of the founding idea of the regions which usually exploit the materials 116 121 of the Constitution of the Republic of Iraq in 2005 and received in a worksheet economic hub of Dr. appearance of Mohammed Saleh for political purposes aimed at dismantling the national unity of the country and constitutional, according to the provisions of Article 119 of the Constitution itself, it is possible to give priority to the idea of development the region as an alternative to the idea of provincial territorial, he was collecting the provinces of Karbala and Anbar, Babil, under the name of development the region of central and western Iraq and to encourage this type of new provinces, Saleh sees the need to allocate no less than 10 percent or more of the investment budget of the federal ministries.

    He pointed to the development of strategic crude oil output after determining an optimal point in crude oil production source and not six million barrels per day, then draw extracted production of crude oil to be input to projects or local petrochemical refining, whether national or international, including joint maximize the added value of wealth depleted.

    Aattabrris part of the National Investment Commission d. Sami al-Araji reconsider the subject of the implementation of projects in a manner of payment on credit thing no matter what, especially there is a specialized international companies have a desire to work according to this principle, pointing out that the industrial paper on the subject of economic reform took Mdyatea must be implemented to assure home and abroad.

    point light honorable

    government program and the national and constitutes a comprehensive and honorable light point in the history of Iraq's political and economic, in the face of the strongest challenges of corruption and terrorism. As well as the growing deficit in the GDP and the structural imbalances inherited atrophy and productive machine that is what brought him an economic expert intervention d. Ikram Abdul Aziz, which inquired about the beginning of economic reform where you are under Mdyate is limited to contain the fall in crude oil prices, and how they will finance it. In the meantime businessman Issam al-Asadi demanded the establishment of institution concerned with the private sector linked to the premiership as a sector in supporting the government sector, with the aim to encourage and support the local product various commodities and goods, with the importance of getting rid of the mixed sector and turning to the private sector, which has succeeded in achieving abundant earnings in company Baghdad Soft Drinks and Hotel Babylon, for example.

    reviving the industrial sector stood then general manager of TBI Hamdiya Dry said: Activating industrial production contributes to economic development, and the manufacturing industries in Iraq achieved great economic feasibility, especially since the formula of oil the country can Crude oil turned into many products cover domestic consumption and exported the surplus in both cases what Bhafez financial Ras cycle within the country.

    large accumulations of

    private sector was present claim all parties to activate its role during this phase, which saw the transition to open market economy, said economic expert on behalf of Antoine: The broad and large economic program and stands on a large accumulations, indicating that the mechanisms implemented starting from encouraging government employee on faith free economic approach, and in front of credits government departments are beginning field open private banking sector and then comes the other steps, respectively.

    While between d. Mustafa Mohammed importance of increasing young people's share in the labor market by enabling young people from the labor market and increase youth access and cultural change to the concept of working with the necessity of the tax exemption for projects economic young people, such as reducing freight transport costs.

    While the opinion of the former oil minister Ibrahim Bahr al-Ulum said part of the solution to the problem The fiscal deficit in the budget is not the province of Kurdistan's commitment to pay the oil revenues, which issued from the Kirkuk oilfields and the region, which is estimated at $ 8 billion as a result of non-compliance with the agreements as a result of political deficit.

    The Bank of Baghdad Director Mohammad Ali Jaber has stressed the importance of amending the civil Banking Act, especially Article 28 Private investment in the industrial and agricultural projects, noting that the private sector from private banks suffer deduction of deposits in banks.

  8. #8

    Re: The Dinar Daily, Monday November 10, 2014

    China to Play Big Role in Iraq Reconstruction

    By John Lee.

    A former Iraqi official said China would have the opportunity to play a big role in Iraq’s reconstruction when the country is more stable.
    Samir Sumaida’ie (Samir Sumaidaie) (pictured), who was Iraqi ambassador to the US from 2006 to 2012, told Xinhua:

    Although Iraq is still a fragmented country, sooner or later, it will need to rebuild infrastructure, including roads, hospitals, schools, ports, railway lines, and so on …
    China will have the opportunity to play a big role when Iraq is able to welcome foreign contributions …

    “Countries like Iraq should open their arms to every foreign power that is interested in helping it stabilize and rebuild itself.”
    He added that he believed China’s proposal to build a Silk Road Economic Belt and the 21st Century Maritime Silk Road would benefit all participating parties.

  9. #9

    Re: The Dinar Daily, Monday November 10, 2014

    See new documents .. corruption commission Mutlaq reward reluctant to grant the company a contract worth 33 billion dinars!

    A new government documents published by the 'news agency', new details about the corruption deals administered by the Deputy Prime Minister Saleh al-Mutlaq's office and the Commission relating to the displaced.

    According to a source familiar with the Integrity Commission to the reporter 'news agency' today that the authority available to have new information to confirm the involvement of al-Mutlaq in managing large operations corruption worth billions of dinars, adding that the body has become fully aware of ways to circumvent exercised by the Deputy Prime Minister through staff (some of them Relatives of him) in his office, to refer tenders on accused of failing to implement government tenders companies, ostensibly to build caravans displaced Iraqis from war zones in the provinces of Nineveh, Anbar, Diyala, Salahuddin and Babylon, and the interior presence of corrupt deals will announce the details soon.

    The source, who declined to be named, said the committee which managed the displaced in secret through Mutlaq's office referred the contracts worth tens of billions of dinars to the company 'Hasnawi' accused of not carrying out contracts with the Ministry of Higher Education and Scientific Research.

    He said the documents confirm that the self-styled 'committee Mutlaq' awarded Hasnawi company 0.4 contracts to build 4000 Caravan at $ 33 billion dinars, adding that the Commission deliberately 'certain reasons' ignore mainstream clear from the Ministry of Higher Education for all Iraqi government departments confirms the withdrawal of work from this company because of reluctance in implementing the contract referred to it from the presidency of the University of Mustansiriya.

    He added that the subject is strange that the Commission also ignored Hasnawi The company has increased its share capital before the days of referral to a caravan and specifically in the October 22, 2014 (as shown in the attached newspaper ad in the documentation).

    And provided the source documents said that the COI will condemn the committee Mutlaq asserts that the Commission exercised fraud to theft of public money on the one hand and leave the Iraqi citizens in the open without any action to Hamayatem from the cold and rain.

    It is said that hundreds of thousands of Iraqis are now living out in the cold, some of them inside their tents did not prevent rain water and the cold of winter, which now hangs over most of the North, particularly the Iraqi provinces of them.

  10. #10

    Re: The Dinar Daily, Monday November 10, 2014

    Susan Baker: No political differences hinder pass labor law

    Rep. Susan Baker Vice revealed by the Committee on Labor and Social Affairs said in the House of Representatives will resume its usual on Tuesday, the second reading of the labor law.

    She explained a member of the Committee on Labor MP for the Green bloc in the Council, Susan Baker's PUKmedia, on Monday, the House of Representatives will resume read the labor law in Tuesday's session, after he began reading in the previous session, noting that the draft labor law, among the council members who are The Council will discuss the materials during the session, noting that the law includes amendments and additions with respect to foreign workers, and social security.

    And Rep. Baker indicated that the law will pass after the completion of the approval of the first reading and second contexts, noting that there was no political disagreements about the law and approval, which is at the House of Representatives and Sinaakecouna during the first and second reading to be ready for a vote.

    Council began the first reading of the draft labor law, submitted by the committees of Labour and Social Affairs and the institutions of civil society, where he finished reading the 59 articles out of 157 items, which comes Takeda principles enshrined in the Constitution of that work is a right for all Iraqis to ensure them a dignified life and the country will endeavor to provide a wider social guarantees and to find a law that regulates the relationship between workers and employers in accordance with economic principles and that the State shall guarantee the right to form trade unions, professional associations, join them and the fact that Iraq has ratified a number of Arab and international labor conventions and find a law consistent with the provisions of these agreements and the introduction of new principles and provisions of this law and the expiration of a period long on the validity of the Labour Law No. 71 of 1987, especially that most of its provisions, does not fit the nature of the current phase as well as the conflict with a lot of international labor standards ratified by the Government of the Republic of Iraq and work to expand the work culture and ethics to ensure harmony and complementarity between rights and duties as a base to launch towards decent work and find legal cover for workers contracts in government departments and the public sector and make their service is guaranteed for the purposes of granting pension rights and respect for the principles and basic rights for workers laid down in international conventions and treaties of the Freedom of Association and Protection of the Right to Organise and Collective negotiations and the elimination of all forms of forced labor, child labor, equal pay and the minimum age work and the prevention of discrimination in employment and occupation and vocational training.

    The bill also aims to organize vocational training process of pre-employment and re-training and the introduction of the principle of collective agreements to determine the rights and obligations of workers and employers in respect of vocational training and organizing the work of working women and the work of the events and foreigners in Iraq and determine the times of work and wages and vacation workers and the unification of the provisions of trade union action with the provisions of the rules work, including taken by modern legislation and resort to negotiation and arbitration and peaceful solutions before resorting to peaceful strike which vacation law and determine how the collective and individual disputes between labor organization or more, employers and the formation of the Labour Court in all provinces and determine the terms of reference and to challenge its provisions solution.


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