The Dinar Daily, Friday January 16, 2015
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  1. #1

    The Dinar Daily, Friday January 16, 2015





    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

    and

    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
    CBI.iq 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
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    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 84 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″..

    __________________________________________________ ______________

    AND

    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

    waradana.com

    And

    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.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    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

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin



  2. #2

    Re: The Dinar Daily, Friday January 16, 2015

    Parliament confirms the Kurdistan region salaries exchange for this month



    BAGHDAD / Source News / .. confirmed the parliamentary finance committee member Masood Haider, the Federal Ministry of Finance officially informed them that she would send the Kurdistan region salaries for the month of January, during the week.

    Haider said in a press statement that "the Commission addressed the Ministry of Finance on the provincial employees 'salaries, and the answer was that it would send the ministry employees' salaries for the month of January during the week."

    He said Haider that "salaries province will not be delayed, such as the former, after the recent agreement between the federal government and the province on the spill file", pointing out that "the mechanism send salary will be according to a mechanism (12/1) until the approval of the financial budget for 2015" .anthy / 19 p

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3425175&usg=ALkJrhjFjkUo9UUxRxFF7pJbqhOMj1K8Xg

  3. #3

    Re: The Dinar Daily, Friday January 16, 2015

    Parliamentary Finance reveal borrow money from the bank and the International Monetary bridge the budget deficit



    Information / Baghdad / ..
    Parliamentary Finance Committee revealed, on Friday, for borrowing money from the World Bank and cash to address the shortfall in the draft federal budget law of the country for the current year.

    Said committee member Najiba Najib told / information /, "The 2015 budget passed in the House of Representatives is the message of reassurance to the Iraqi people," asserting that "the adoption of the budget with its own problems better than traceable to the Council of Ministers and not to vote for them."

    "The big challenge facing the budget due to the continued decline in global oil prices is to challenge everyone," indicating that "the vote on the 2015 budget means authorize the government in the face of falling oil prices by borrowing money or find effective solutions to address the deficit."

    Najib explained that "the payment of the shortfall in the 2015 budget will be through borrowing from the International Monetary Fund and the World Bank or a number of other financial measures."Finished / 25

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3424993&usg=ALkJrhg0Yl0__lB3CeA6Uhvv7lg6U-Pu1A

  4. #4

    Re: The Dinar Daily, Friday January 16, 2015

    Reference calls to reconsider the budget and the development of fast processors economic reality



    Information / Karbala / ..
    Called religious authority, on Friday, to re-examine the draft budget law for 2015, while stressing the need for a fast processors current economic realities, he urged openness to talent at home and abroad.

    The representative of the reference in Karbala, Mr. Ahmed net during Friday prayers held in the saucer-Husseini al-Sharif and attended / information /, that "the budget adopted a certain oil price, which is the backbone of the economy of Iraq, but soon those prices dropped dramatically," stressing the need to " reconsider the budget and prepared occasion and put prices at the lowest level possible in a way that him up falling oil prices. "
    Net urged to "stop travel and deputations abroad and combating financial and administrative corruption combating real expenses in conjunction with the pressure," calling at the same time to "rely on the internal market in the shopping and Hamiah domestic product."

    Mr. net and pointed out that "the current situation requires that all concerned standing policy of the country pause responsible commensurate with the size of the problem," stressing the importance of "the development of fast processors economic reality which may Yibna problem if not treated."

    In a related context, Mr. Safi urged the government to "open up to the professor and scholars at home and abroad to consult them and taking their views on how to deal with things, whether economic or security inside Iraq or outside." Finished / 25

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3425146&usg=ALkJrhhT0nUhA6qB4qC3dYDflSr3i0ALvw


    AND
    Certified Sistani warns of economic problem without fast processors



    Karbala, Iraq-Presse January -16: Mr. Ahmad Safi certified warned cleric Ali al-Sistani of an economic problem facing Iraq if fast processors have not been established.

    Safi said during Friday prayers held in the courtyard Husseini Karbala, said that "the current data related to the development of the country's economic forecast for the problem may occur if a quick and realistic her handlers have not placed," pointing out that "the current situation requires that all concerned standing policy of the country Pause responsible commensurate with the size of the problem. "

    Net and called on the government to the need to "open up to the professor and scholars at home and abroad to consult them and taking their views on how to deal with things, whether security or economic inside Iraq or outside it," asking, "Is it not surprising that there are hundreds of creative energies scattered in the countries of the world and we are in dire need them? ". ended (1)

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3425205&usg=ALkJrhiLVeOEDVXxuPLEFk3yXZ46YdY15w




    Last edited by sczin11; 01-16-2015 at 11:00 AM.

  5. #5

    Re: The Dinar Daily, Friday January 16, 2015

    sczin11- OPINION PIECE............AND THE CASE AGAINST MALIKI AND SUPPORTERS CONTINUES, AS THE CORRUPTION STORY CONTINUES TO UNFOLD!! RECENT UPDATES AT THE BOTTOM OF THIS POST~

    (This is a continuous post...information/opinions added all the time)
    WHAT ARE WE WAITING FOR?....WHAT IS THE TRIGGER?

    Let's think about this... A couple of weeks ago, news that Chalibi was accusing CBI Governor of having fake certifications for his daughter and himself... (THE CASE BEGINS AGAINST MALIKI'S CREW)... Right before that release, Dr. Shabibi is acquitted and released of charges against him...Maliki and "His Crew", retaliate, by filing appeal against Dr. Shabibi, with the High Court, headed by "His Man", Judge Mahmood... The media propaganda continues, and even the Wall Street Journal publishes article stating Maliki is lining up his ducks, waiting for the right time to take back the government...Hakim comes out with a HUGE statement on Saturday, praising the NEW REGIME, Abadi and the New Iraqi Government, "proves democratization and stability of the government" and Sunday comes back with another HUGE statement about Maliki, "because they have become a minority is impressive and the number does not exceed the fingers of one hand.".....Judge Mahmood, appears to be drifting away from Maliki's court, announces complete discharge of any case against Dr. Shabibi, and states Maliki's son will be the first to be investigated in monetary corruption...Will he turn on daddy?...time will tell...Saudia Arabia, after 25 years GONE from Iraq, RETURNS and is given buildings for the Consulate/embassies and staff...Bank executives are running, and/or being arrested for corruption...News today that Maliki assigned 200 proxy votes in the government while he was in charge of the "caretaker government", the time between the elections on April 30, 2014 and the time Abadi was ratified, and they will all be investigated NOW! Articles daily about the problems with the Banks, the corruption suspected, the funneling of money out of Iraq, the re-capture of some of the missing dollars/dinars, as witnessed by todays article below.... ...... Let's put this all together, although I could go on and on, and think "outside the box.." News is released, not only when they want us to know, not only what they want us to know, BUT, for the most part, AFTER IT HAS OCCURRED... That being said, the case against the Maliki regime, well thought out and planned, appears to be coming to a head...It has been worked on for months, it obviously has been executed, and quite possibly, the final chapter is upon us! There must be "good cause" to bring down the governor of the CBI, by the Council of Ministers...Do you see where this all is going? It is almost time to bring on Dr. Sinan AL Shabibi!

    ______

    AND JANUARY 12, 2015, LOOK AT THE NEWS THAT WAS RELEASED TO THE WORLD.....


    ______

    sczin11- Now we begin to hear, the CASE against the Corruption in the CBI.... Stay tuned Folks, IT ONLY GETS JUICIER! WELL, IF THE CORRUPTION EXISTS, AND THEY HAVE THE CASE LAID OUT, WHAT COMES NEXT? THE COM CAN NOW REMOVE THE CURRENT GOVERNOR OF THE CBI, FOR JUST CAUSE..... AND WHO IS WAITING IN THE WINGS?........THE PUBLISHER OF THE MONETARY REFORM, THE ECONOMIC EXPERT WHO WROTE THE PLAN, THE IRAQI PEOPLE'S FRIEND, DR. SINAN AL SHABIBI!....

    Parliamentary Integrity: The Council of Representatives will discuss the corruption of the central bank soon

    http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.almaalomah.com%2Fnews%2F8293%2F %25D8%25A7%25D9%2584%25D9%2586%25D8%25B2%25D8%25A7 %25D9%2587%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25A8%25D8%25B1%25D9%2584 %25D9%2585%25D8%25A7%25D9%2586%25D9%258A%25D8%25A9 %3A-%25D9%2585%25D8%25AC%25D9%2584%25D8%25B3-%25D8%25A7%25D9%2584%25D9%2586%25D9%2588%25D8%25A7 %25D8%25A8-%25D8%25B3%25D9%258A%25D9%2586%25D8%25A7%25D9%2582 %25D8%25B4-%25D9%2581%25D8%25B3%25D8%25A7%25D8%25AF-

    AND

    THURSDAY, JANUARY 15, 2015..... WE SEE THE TBI, THE TRADE BANK OF IRAQ, THE BANK STARTED AFTER THE INVASION, WITH JP MORGAN CHASE, (REFERENCE THE STICKY THREAD FOR THE HISTORY AND DETAILS AT THE TOP OF THE CURRENT NEWS FORUM) IN THE BACKING, BY PAUL BREMER AND THE US LED COALITION, BEING ACCUSED OF CORRUPTION...."TBI Kurdistan delivers two billion and 300 million dollars "in a deal marred by corruption."

    WE ALSO AT SAME TIME, SEE THAT THE ISX ANNOUNCES THAT TRADE BANK WILL "RESUME" TRADING ON SUNDAY JANUARY 18, 2015...THEY DID NOT RESUME WHEN THE ISX RE-OPENED AFTER THE HOLIDAY...WE SEE THE SUPREME RELIGIOIUS LEADER, SISTANI, RECOMMENDING ANTI CORRUPTION AND A CLEAN PAGE IN THE IRAQI BANKING SYSTEM..." three presidencies in seeking unremitting efforts since officially received positions to eliminate corruption and to open a new page based on common interests and internally relations between Iraq and countries, as recommended by the supreme religious authority in Iraq.".....

    AND NOW THE CBI MAKES AN ANNOUNCEMENT THAT MUCH MONEY WAS OBTAINED FRAUDULENTLY INDIRECTLY FROM THE CBI, THROUGH OTHER BANKS, NOT NAMED, STATING BASICALLY THEY ARE CALLING ALL THE LOANS...ARE THEY REFERRING TO THE TBI? SEE ARTICLE BELOW! ...REMEMBER, THIS IS ALL PAST HAPPENINGS..WE ARE BEING TOLD ABOUT IT NOW, AFTER THE FACT... THE TABLE IS SET, THE PUZZLE IS WAITING FOR THE LAST PIECE, THE SHOW IS IN THE FINAL ACT.....



    sczin11- HOLY COW! TBI, (TRADE BANK OF IRAQ) HAS HAD TRADING ON ISX, HALTED FOR A PERIOD OF TIME.. THE NEWS TODAY IS THEY WILL RESUME TRADING ON SUNDAY JANUARY 18, 2015!


    TBI Kurdistan delivers two billion and 300 million dollars "in a deal marred by corruption."

    Trade Bank of Iraq





    Author: Editor: br Reporter:Number of Views: 33

    01/15/2015 15:36


    Tomorrow Press / Baghdad:

    A parliamentary source revealed early Thursday, the Commercial Bank of Iraq to grant more than two billion dollars to Iraqi Kurdistan, pointing out that the subject under scrutiny because it was tainted by corruption.

    The source told "tomorrow Press", "The Commercial Bank of Iraq has handed over the amount of two billion and $ 300 million to Iraqi Kurdistan in the form of loans, but the Finance Committee in the House of Representatives complained about the subject and the subject took the check and audit results will be announced soon."
    The source, who requested anonymity, that "the deal marred by corruption of the financial amounts Audit Committee considered the subject to reveal the facts in front of people."
    It is noteworthy that the three presidencies in seeking unremitting efforts since officially received positions to eliminate corruption and to open a new page based on common interests and internally relations between Iraq and countries, as recommended by the supreme religious authority in Iraq.

    http://translate.googleusercontent.c...Vqo2Au-o86KaRg
    Last edited by sczin11; 01-16-2015 at 11:15 AM.

  6. #6

    Re: The Dinar Daily, Friday January 16, 2015

    Thank you sczin11 for your brilliant synopsis putting the pieces of this puzzle together. We are so grateful to have you. What encouragement you have given all of us this morning!!! all I can say is Thank You, Thank you, and Thank you!!!

  7. #7

    Re: The Dinar Daily, Friday January 16, 2015

    sczin11= Here is more on yesterdays top story!

    Misdemeanor Rusafa Sentences severe imprisonment for two years on "Haramiha protector"




    BAGHDAD - Iraq Press - December 16 ethnic / January: Integrity Commission announced, that "the Court of Misdemeanors Rusafa sentenced in absentia, stressing the right of the Director-General of the Office of the Anti-Money former Central Bank of Iraq on charges of committing irregularities in the bank's auction" washing ,.

    She said in a statement, said that "the convicted, Khalid Hameed Cltag, deliberate omission follow irregularities and abuses of some companies and banks involved in the auction sale of the work," noting that "the court sentenced him to severe imprisonment for two years in absentia on according to the provisions of Article 331 of the Iraqi Penal Code." .

    , The statement, that "the convict who served as Director General of the Anti-Money Laundering Office in the Central Bank of Iraq may have breached the functional duties intentionally overlooked by the follow-up irregularities and abuses that marred the currency auction conducted by the central bank." Admiral ended

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  8. #8

    Re: The Dinar Daily, Friday January 16, 2015

    Abadi's office: the oil agreement with the province can not be undone and views around him express juridical



    [Baghdad-where]
    The Office of the Prime Minister Haider al-Abadi proceed with implementation of the oil agreement with the Kurdistan Regional Government and abide by it.

    A spokesman for the Office of the Prime Minister Saad al-Sabri told all of Iraq [where] that "the statements which calls for the revision in the agreement between Baghdad and Erbil express Qailleha and juridical and there are some parties and actors and the characters were not convinced that this is the agreement signed between the federal government and the Kurdistan Regional Government, but both the two parties are committed to its implementation is not new in the matter. "

    He said "the agreement was approved by the Cabinet and the House of Representatives by the media, and certainly is the subject of commitment can not be undone and the general budget of the country for 2015, built a big part of this agreement."

    He newborn to "allocate a portion of the federal budget to the ground forces of the Peshmerga forces, according to population ratios that these forces is part of the national security system."

    He pointed to "export quantities of Kirkuk oil through the line to the ports of the region and Turkey to Ceyhan fields, and the export part of the commitment between the province and Baghdad to apply the terms of the agreement."

    A spokesman for the Office of Abadi "the right of any person to express a political point about this agreement, Iraq has a democratic system, but there is an agreement contract and so far the province has not shirk it."

    The mass of a coalition of state law in the House of Representatives stressed the need that the federal government will be solely responsible for the export of Iraqi oil including Kurdistan region's oil. "

    The head of the Coalition MP Ali al-Adeeb, in a press conference held by the Bloc last Wednesday at the parliament building that "the export process must confine However, the federal government and across the SOMO in coordination with the Ministry of Natural Resources in the Kurdistan Regional Government in order to achieve justice and the application of the economic aspect terms of the Constitution, in order to ensure equitable distribution of wealth to all Iraqis of all stripes. "

    He pointed to "the need to amend the budget in order to avoid the potential financial implications of the most important to determine the share of the province of Kurdistan and other provinces based on official rates for the population and the adoption of payments clearing mentioned in the BSA reports that are owed ​​by the province of the federal government and the adoption of a mechanism for scheduling repaid."

    The federal government and the Kurdistan Regional Government has announced in the second from last December to reach an agreement in relation to oil exports and the region's share of the budget.

    The agreement included the export of the Kurdistan region 250 000 barrels per day through Turkey's Ceyhan line with the export of 300 000 barrels of the province of Kirkuk fields through the same line, and delivery of their revenues to the federal government, which agreed to turn the Kurdish Peshmerga forces paying salaries as part of the security system Alaracah.anthy 2

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  9. #9

    Re: The Dinar Daily, Friday January 16, 2015

    Iraqi coalition forces threaten the position of the Government of Hazem al-Abadi: We will not vote on the budget without substantial amendments



    Iraqi forces announced an alliance official representative of the provinces most affected vertebrae reservation on the government budget for 2015, which was frustrating and non-responsive to the needs of the displaced and the requirements of the sons of General of the Iraqi people.

    He called the Iraqi coalition forces need to increase the allocations earmarked in the federal budget allocated for displaced people and displaced up to $ 5 billion, as demanded by monitoring the amount of 1.5 billion to cover the expenses, and the needs of the National Guard.

    He stressed coalition forces in their demands, the need for the government's commitment to securing and monitoring and delivery of salaries and allowances of staff in the hot spots without deduction or delay.

    Iraqi coalition forces also stressed that all coalition forces combined will not vote on the approval of the federal budget, calling on ministers in the coalition government cabin prepare for the positions taken by the Alliance Strategy Iraqi forces in the event of continued Abadi is behind Btsoev partnership agreements, which was built by his government.

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  10. #10

    Re: The Dinar Daily, Friday January 16, 2015

    The documents reveal the previous government signing an agreement with the Kurdistan oil

    (Independent) .. documents issued by the Ministry of Oil / North Oil Company, revealed that the government of former Prime Minister Nuri al-Maliki demanded the Kurdistan region processed b (100,000) thousand barrels of oil in return for handing the government of the province two billion dollars.
    The document showed a 52 307 figure dated 05/19/2014 entitled to the Ministry of Natural Resources / Kurdistan region claim the Ministry of Oil / North Oil Company processing quantity of 100 thousand barrels.

    In another document with a number o u / 54 showed dated 27.03.2014 issued by the North Oil Company is also entitled to the Ministry of Natural Resources, for the approval of the Federal Ministry of oil the previous government, which said the quantities and how to move through the fields and pipelines, where it is pumped (50) thousand barrels of Tawke Tauki across the system, and (50) thousand barrels from the fields of Taq Taq and Khurmala.

    She said another document with the number 569 dated 03.04.2014 issued by the Ministry of Natural Resources in the Kurdistan region and entitled to the North Oil Company in the Federal Ministry of Oil, full details of how to start agreed with Baghdad oil pump.


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