The Dinar Daily, Thursday January 22, 2015
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  1. #1

    The Dinar Daily, Thursday January 22, 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, Thursday January 22, 2015

    sczin11- PLEASE NOTE..I WANTED TO POST THIS INFORMATION AT TOP, SO THE CBI AUCTION AND SITE INFO IS LAST ON THIS PAGE IN BOX #10 BELOW..SO KEEP SCROLLING DOWN FOR UPDATED CBI INFO!

    *************

    YESTERDAY, LATE IN AFTERNOON, SOME INFORMATION WAS BROUGHT INTO CHAT BY ONE OF OUR MEMBERS, UNFORTUNATELY , WITH LITTLE BACK-UP.... I HAVE STARTED LOOKING INTO IT, AS HAVE OTHERS I CONTACTED, BUT WANTED TO GIVE YOU ALL THE INFORMATION, ASAP, AND WE WILL CONTINUE TO UPDATE, AS WE CAN! THIS IN MY OPINION, IS HUGE NEWS! **********

    *************
    I WOULD LIKE TO TRY AN CLARIFY THE SIGNIFICANCE OF THE 8 MONEY TRANSFER COMPANIES TRADING ON THE ISX..... **** THEY ARE NOT TRIGGERS FOR AN INTERNATIONALLY TRADEABLE CURRENCY ***** ... IN OTHER WORDS, THEY DO NOT MEAN AN RV!!!! .... THESE COMPANIES HAVE BEEN TRANSFERRING MONEY AND IN BUSINESS FOR QUITE SOME TIME... HERE IS THE SIGNIFICANCE SIMPLY PUT.... WHEN A COMPANY GOES PUBLIC, LISTS ON A STOCK EXCHANGE, THE ANTICIPATION, SPECULATION IF YOU WILL, IS THAT THEY ARE A SUCCESSFUL COMPANY, LOOKING FOR INVESTMENT DOLLARS, IN THE HOPES OF GROWING EVEN MORE...THE IDEA THAT BUSINESS WILL GROW, PROFITS WILL GROW, AND ALL WILL MAKE MORE MONEY THAN BEFORE BEING LISTED... OWNERSHIP OF THE COMPANY BECOMES THE INVESTORS OF THE SHARES, AS OPPOSED TO THE ORIGINAL FOUNDERS....THAT BEING SAID, WHY WOULD 8 MONEY TRANSFER COMPANIES, ALL AT ONE TIME, LOOK TO BE LISTED ON THE ISX? WHY WOULD THEY BE ANTICIPATING HUGE DESIRES FOR INVESTORS TO COME IN? WHY WOULD THEY THINK PROFITS WOULD RISING?

    ____


    ISX NEW LISTINGS....NEW CATEGORY FORMED AS WELL ON THE ISX SITE FOR THESE NEW LISTINGS!

    Money Transfer
    Ataa Al-Garri Company for Money Transfer
    Al-Harir for Money Transfer
    Al Taif Money Transfer
    Al-Muhej Money Transfer
    AL-Iraqia for Money Transfer
    Mouta for Remittance
    Sama Baghdad Finance Transfer
    United Arab Money Transfer


    There is some news on a few of these companies, some were supposed to start trading on January 15, however, so far, I have found no updated information on any.

    NOTE: THESE ARE ALL MONEY TRANSFER COMPANIES........ COMPANIES THAT ARE IN THE BUSINESS OF SENDING "WIRES" OF CURRENCY FROM ONE LOCATION TO ANOTHER!!!! THEY PROVIDE MANY DIVERSIFIED SERVICES, THEY CONVERT CURRENCIES IN THE PROCESS OF SENDING THE CURRENCY, WHEN REQUIRED......AND WHEN IS THAT? FOR INTERNATIONAL TRANSFERS.....WHY IN THE WORLD WOULD 8 (EIGHT) DIFFERENT MONEY TRANSFER COMPANIES, BE LISTED ON THE ISX, ALL AT ONE TIME? WHAT IS THE REASON FOR BECOMING A PUBLICLY TRADED COMPANY, AS OPPOSED TO STAYING PRIVATELY OWNED? WHO WOULD INVEST IN THE COMPANY, IF IT WEREN'T THINKING THERE WAS A WAY TO MAKE MONEY, MEANING PROFITS, AND NOT LOSSES? ...ARE YOU FOLLOWING ME HERE? WHO IN THEIR RIGHT MIND, WOULD INVEST IN A MONEY TRANSFER COUNTRY, ON THE ISX, IF THEY WERE ONLY GOING TO BE TRANSFERRING IRAQI DINAR AT 1166/1 USD, OR BETTER YET, IF THEY WERE ONLY GOING TO BE HANDLING IN-COUNTRY TRANSACTIONS?

    HERE IS THE ONLY NEWS I COULD FIND THUS FAR....


    New companies to start trading in Iraq Stock Market (ISX)

    Shares of Al-Iraqia For Money Transfer (MTIR), Al-Taif

    Money Transfer (MTAI) and Al-Harir for Money

    Transfer (MTAH) will start trading on Feb. 5, 2015

    . Shares of Sama Baghdad Finance Transfer (MTSB)

    will start trading on Feb. 8, 2015.


    http://www.rs.iq/iraq_news/view/6680

    http://www.isx-iq.net/isxportal/port...GuideList.html

    I HAVE JUST STARTED RESEARCHING.. AL IRAQIA FOR MONEY TRANSFERS.... http://www.aliraqiamt.org/index.htm

    THEY ARE WESTERN UNION AGENTS....BEEN AROUND...GROWING SINCE THE BEGINNING.... READ THE SERVICES THEY PROVIDE...

    Purchase currency
    Money transfer to/from Iraq
    Money transfer between Iraqi governorate
    Implement remittance through Swift System


    NOW WE HAVE AL -TAIF MONEY TRANSFER COMPANY... http://money.altaif.co/Promotion.aspx

    ON THEIR PROMOTION PAGE IS THE FOLLOWING BLURB.. " SOON CUSTOMERS WILL BE ABLE TO TRANSFER MONEY FROM VISA TO VISA AND TRANSFER MONEY ONLINE ALL OVER IRAQ!"

    ALSO A WESTERN UNION AGENT, IT APPEARS...

    AL -HARIR FOR MONEY TRANSFER, I CAN NOT LOCATE THIS COMPANIES WEBSITE..IF THEY HAVE ONE....

    Sama Baghdad Finance TRANSFER COMPANY, I CAN NOT LOCATE A WEBSITE FOR THIS COMPANY AS WELL....
    Last edited by sczin11; 01-22-2015 at 09:30 PM.

  3. #3

    Re: The Dinar Daily, Thursday January 22, 2015

    Maliki: the draft law of the Federal Court will open a new chapter of the differences between the blocks



    BAGHDAD / Source News / .. deputy state law, Abdul Salam al-Maliki said on Thursday that the draft of the Federal Court, which sent the government a lot of law involved, wh paragraphs that have not been clarified.
    He said al-Maliki in a press release Agency / Source News / received a copy of it: that the Federal Court Act is one of the important and controversial laws, who was deported from the previous session because he needed to two-thirds of the members of parliament agree, therefore, be dealt with in a professional manner away from the fancies or partisan interpretations of ambiguous would be the best way to pass in record time without any complications or problems.

    He added: "The current draft of the law included a number of points have not been clarified, especially related activities, including in Article 2 First / e /, which refers to the two Islamic jurisprudence experts membership, which was one of the most controversial points in the previous session, not to mention not to give explicit authority for Islamic scholars You will be limited to giving advice, opinion, or that they have a right of veto.

    He continued: It's the other linked to article 3 II / b / relating to the nomination of my book Islamic Waqf to six candidates for experts in Islamic jurisprudence, where you did not specify the mechanism that will be through the nomination of these names and is the entity that will oversee the nomination process also is not put on condition of inclusiveness measures of accountability Justice important condition for candidacy. "

    He said: Leaving these things and others for other Aasni mentioned to avoid stretching vaguely and without setting clear frameworks will make us have to be held in front of problematic steps enactment of the law and open the doors of a new Pope differences, interpretations, which we do not need.Finished / 19 b


    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%3D3444610&usg=ALkJrhg5VTnJNNZHMc9uOvVck0DMGkHaUQ
    Last edited by pinkadonai1; 01-22-2015 at 11:20 AM.

  4. #4

    Re: The Dinar Daily, Thursday January 22, 2015

    Reconciliation Commission representative: to achieve national reconciliation requires the issuance of new laws



    Information / special / ..
    The head of the reconciliation committee and parliamentary accountability Hisham al-Suhail, on Thursday, to achieve national reconciliation requires the issuance of new laws and other amendment to a lot of laws, noting that legal accountability and the criminalization of the Baath party in Parliament The two possible that what please parties present from all of the blocks.

    Said Suhail told / information /, "The reconciliation committee met with President Fuad Masum yesterday, and we discussed the issue of national reconciliation and accountability, justice and the criminalization of the Baath Party, and there were convergent views between the Accountability Commission and the Presidency in visions."

    He added that "reconciliation that have been achieved will be followed by the issuance of laws and amending other laws, as well as something new in the law of accountability and justice is going to change," explaining that "legal accountability and the criminalization of the Baath Party found within parliament is possible that what please parties present from all of the blocks."

    Suhail stressed that "there are those who object to the criminalization of the Baath Party and the abolition of the accountability and justice, so we checked with the President to find a compromise solution that would satisfy all parties," a 25 .anthy




    Last edited by pinkadonai1; 01-22-2015 at 11:28 AM.

  5. #5

    Re: The Dinar Daily, Thursday January 22, 2015

    Urgent .. Jubouri: Supreme Judicial personal nominated for the presidency of the Federal Court

    [Baghdad-Line]

    House Speaker Salim al-Jubouri said on Thursday that the Supreme Judicial personal nominated for the presidency of the Federal Court.
    And between parliamentary source told all of Iraq [where] that "Jubouri show that paragraph to vote, noting that the President of the Council refused to disclose the name of the candidate."
    The House of Representatives held its meeting today under the chairmanship of Salim al-Jubouri, to discuss a number of laws .anthy 2

    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%3D3444655&usg=ALkJrhgOJakiWtErNod8B977jVEBRVDW4A
    Last edited by pinkadonai1; 01-22-2015 at 11:23 AM.

  6. #6

    Re: The Dinar Daily, Thursday January 22, 2015



    Finance Committee: the Kurdistan region will get its budget in the form of monthly payments, according to an income accruing


    Author:
    22-01-2015 12:05 PM
    Number of Views: 15



    Orbit -
    Finance Committee in the Iraqi Parliament confirmed on Thursday, do not specify a financial number within 17% of the budget for the financial counterbalance Okulaik Kurdistan, noting that the province will receive a financial budget in the form of monthly payments according to financial earned an income.


    A member of the Committee Faleh applicable, in an interview with'hafq News', that 'the current year budget 2015 budget are speculative, and the province will receive a share amounting to 17% of the federal budget in the form of monthly payments calculated in accordance with the financial revenue accruing'.



    He added that the 'sovereign expenses, which amounted to 26 trillion dinars, in addition to the ruling expenses up to 7 trillion dinars, and the remainder of the total budget is 92 trillion dinars, which will be accounted for, including the 17% rate for the Kurdistan Region'.



    He said in effect that 'the 17% of the region's share could rise may go up or down according to financial revenues achieved', stressing the lack of 'fixed number in the federal budget dedicated as a share of the region of Kurdistan within the budget.'



    Finance Committee and announced in the House of Representatives on Wednesday, reduced 5 trillion dinars from the fiscal deficit in the budget of 2015, but indicated that the deficit is still high due to the very low prices to sell oil.


    He said Oil Minister Adel Abdul Mahdi, in a speech he delivered an oil conference held in Kuwait, Wednesday, that 'oil prices now reached the bottom and it is difficult to record a further drop'.


    Gave Abdul-Mahdi, the former two proposals to address the decline in oil prices, the first to leave prices fall to an end with him out of the market every marginal producers who need to price oil high to continue their production, and thus get rid of (OPEC) of surplus without loss of one barrel of market share, while the second is that the (OPEC) to reduce the 5 per cent of its production, equivalent to about 1.5 million barrels per day.


    http://translate.googleusercontent.c...EbZVJxk3iPTzxQ





  7. #7

    Re: The Dinar Daily, Thursday January 22, 2015

    Legal representative: all political parties will be subject to the law of parties, including the parties, the Kurdistan region
    MP for change Amin Bakr

    Tomorrow Press / BAGHDAD: A member of the Legal Committee of the House of Representatives Secretary Baker, on Thursday, that the law of parties in the House of Representatives will include all parties in Iraq, including political parties in the Kurdistan region.

    He said Baker's "Tomorrow's Press," that "the law of parties in the parliament will include all parties in Iraq, including the Kurdistan region, because both parties in the provinces or the whole region is involved in the Iraqi elections and the political process, thus all will be subject to this law."

    He added that "this law is very important because it will organize the development of the parties as reflected on the overall political process in Iraq and thus apply to participate in the elections, political parties," pointing out that our Committee "has invited civil society organizations and political parties to engage in study and discuss the law and take their suggestions and views" .

    Baker said, "We are trying to mean that we could effortlessly law minute study and discussion to be legally mature serve the political process and serve the people
    In Iraq, there are hundreds of political parties and forces, Mtthmlh nationalities and different religions, all of which participate in the elections.

    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%3D3444716&usg=ALkJrhjZzL-fSLfZkt2qGMwLJte2urpsHA
    Last edited by pinkadonai1; 01-22-2015 at 11:30 AM.

  8. #8

    Re: The Dinar Daily, Thursday January 22, 2015

    The start of the parliamentary session, headed by businessman and the presence of al-Jubouri, 250 deputies



    BAGHDAD / Source News / .. the sixth meeting of the House of Representatives began Legislative separate them second legislative year, the first third of the parliamentary session this afternoon, headed by Salim al-President of the Council and the presence of 250 deputies.

    The agenda of the meeting includes the first reading of the draft Iraqi National Intelligence Service Bill and the Iraqi Media Authority Act. "

    Agenda also includes a vote of saluting principle the draft land law Rent Alzeraih.oukrar about events Badush prison. "Finished / 19 Q


    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%3D3444727&usg=ALkJrhhScmtJzBUoy430IxxKfKORihMVSA

    Last edited by pinkadonai1; 01-22-2015 at 11:26 AM.

  9. #9

    Re: The Dinar Daily, Thursday January 22, 2015

    Urgent .. [where] the names of candidates for the presidency of the Federal Court and the prosecution reveal

    Thursday, 22 January 2 / January 2015 12:57

    [Baghdad-where]
    Deputy for the National Alliance revealed Thursday by the Supreme Judicial Council candidates for the presidency of the Federal Court and the prosecution.
    Said Hussein al-Maliki told all of Iraq [where] that "the presidential candidate of the Federal Court is the Vice President of the Court of Cassation [ultra Zidane] and candidate for the presidency of the public prosecution is vice president of the prosecution agency [Mohammed Qassim al-Janabi] to take over my own name."
    The head of the House of Representatives, Salim al Thursday revealed told parliament that the Supreme Judicial Council nominated in 11 of the month figure for the presidency of the Federal Court, a vice president of the Court of Cassation also nominated deputy chief prosecutor for the presidency of the prosecution.
    Put Jubouri included today's meeting agenda paragraph vote on the candidates but deferred to decide next week to inform the House of Representatives while the biographies of the candidates in preparation for the vote Alehma.anthy 2

    http://translate.googleusercontent.c...XXVATUTcIV_teg



    OOTW- HERE'S SOME HISTORY ON THIS

    Parliamentary Legal reveal for "information" about US pressure to refer Mahmood to retire because Alalona..sota
    Date: 11/27/2014 18:33








    Information / special / ..
    Legal Committee representative revealed, on Thursday, an American pressure to refer the head of the judiciary and the Federal Court Medhat al-Mahmoud to retirement, while confirming that the US decision came after the issuance of the death sentence against former MP Ahmed al-Alwani, stressed the need to keep the work of the judiciary from political interference.
    , said committee member Ibtisam al-Hilali told / information /, "The United States of America, has put pressure on some Iraqi politicians to refer the head of the judiciary and the Federal Court Medhat al-Mahmoud to retire," noting that "we reject these interventions categorically, We do not accept any internal interventions or extrinsic functioning of the judiciary. "
    Hilali and added that "the independent authority away from the influence of all other powers of the judiciary," indicating that "the US decision came after the issuance of the death sentence against former MP Ahmed al-Alwani."
    stressed Hilali on. " the need to keep the work of the judiciary from political interference, "pointing out that" America is not Achtsasaha referral figures to retire or resign, but is from the jurisdiction of the Federal Supreme Court. "
    It is noteworthy that a spokesman for the judiciary Judge Abdul Sattar Bayraktar announced on Sunday (November 23 this ), the Criminal Court sentenced to death former MP Ahmad Alalona.anthy / 25 h




    Deputy: House of Representatives will pass important laws, including the general amnesty and parties
    Under section: political Dated: November 4, 2014
    Baghdad / Iraq News Network confirmed the National Alliance MP Hossein Sharifi, today, that the House will pass important legislation awaits the Iraqi street, indicating that the time is still before the Council of Alnwab.oukal Sharifi: "In spite of the short life of this parliamentary session, but the Council House of Representatives seeks to pass important laws ahead Mjmtaah ​​different segments, including the general amnesty law and the law of the Federal Service, and the law of parties. "

    http://aliraqnews.com/






    Judges caloricity movement accuses Medhat al-Mahmoud sending himself out of Iraq even if attached Anaakecr global conference in Istanbul, the subject of the judges!
    Published November 4, 2014 | By Justice News


    Mr. President of the Supreme Judicial Council, Medhat al-Mahmoud and permanent deputations (Sinbad the Iraqi judiciary)Liberal judges Movement After 2003 EU intervention to set up courses for Iraqi judges in EU countries for the development of the Iraqi judiciary in Motmrat and judicial sessions and since it took over the judge Mr. Medhat Hamoudi Hussein Mahmoud presidency of the judiciary in all joints president of the Federal Supreme Court and the president of the Federal Court of Cassation and Chairman of the Supreme Judicial Council's keenness to travel to all countries of the world, taking advantage of his position in the career of the Judiciary Council presidency and beyond any call dispatch or respond to the Supreme Judicial Council, but where Valaivad and subscribe to all EU countries France, Germany, Spain, the Netherlands, Britain, Portugal, Denmark, Italy , Belgium, Luxemburg, Poland, Romania, Bulgaria, Hungary and all EU countries other as well as to visit the United States for more than ten times either other countries such as Jordan, Lebanon, Turkey and Dubai, it is a permanent presence in and whatever IFAD under any name find The judge, Mr. Medhat al-Mahmoud exists in this scholarship for all the criminal, civil, legitimate and that the courts


    Alaivadat and trips recreational who by Judge Medhat al-Mahmoud reveal the size of large-scale corruption in the Council Alqdile Supreme through the Public Relations Department in the Supreme Judicial Council and that the task assigned file the Associate Judicial (Asad Zia Khamas) and that made him Mr. Medhat Al Mahmoud, Director General of the relationships public and legal relations in the Supreme Judicial Council for several years and then became the Director General of the Department of Administrative and judicial security guards in the Supreme Judicial Council and that trips the stated aim is to develop the judiciary But the size of the Iraqi corruption in this file reveals the great manipulation by the President of the Supreme Judicial Council, Judge Medhat al-Mahmoud and all those judicial orders breastplate by Mr. Medhat al-Mahmoud found in the Public Relations Department in the Supreme Judicial Council and the rampant corruption in this file must be found and definition by the competent authorities and corruption is the following matters:


    1:The President of the Supreme Judicial Council, Judge Medhat Hamoudi Hussein Mahmood took advantage of career focused on exclusivity dispatch outside Iraq are not found in any other official in the state of Iraq can be found on passports Alssed Medhat al-Mahmoud in order to find that one month does not pass from months only and was Mr. Medhat al-Mahmoud traveling outside Iraq note that in all of those trips that involving Mr. Medhat al-Mahmoud, Mr. Mahmood gets large sums of money in hard currency the euro and the dollar than that of those courses for judges in various magazines as judges to investigate and first instance courts or judges of terrorism or Integrity or judges of personal status and of amusing that Mr. Chief Justice of the Supreme Council, Mr. Medhat Hamoudi Hussein Mahmoud participate in the ad hoc Conference: the judges in Turkey and Mr. Medhat al-Mahmoud beyond any role or Conference:,

    seminar or workshop or panel discussion only and participated in whether outside Iraq and is not regulated by any Conference: to address the Iraqi judiciary problems and most of the time, Mr. Medhat al-Mahmoud travels outside Iraq and is consistent mail from outside Iraq through the Internet and electronic signature so that administered the Supreme Judicial Council from outside Iraq, and now Mr. Medhat al-Mahmoud exists in Lebanon a special role for new judges with that month did not go on his return from Lebanon and Turkey either Dubai Fu permanent presence in it because it gets a lot of money by the United Arab Emirates and the Dubai Courts in addition to continuing its presence in the Jordanian capital Amman, and can be found on trips Foreign Through scrutiny calculator at Baghdad International Airport because Mr. Medhat al-Mahmoud is a permanent customer at Baghdad International Airport, and Mr. Medhat al-Mahmoud has committed a crime to exploit career influence by hiring career focused in the permanent traveling outside Iraq and Alaivadat carried out by the President of the Supreme Judicial Council, Mr. Medhat Hamoudi Hussein Mahmoud violation of the law because of the dispatch of the same out of Iraq and represent a large exploit career influence was Mr. Medhat al-Mahmoud limited to trips that take place abroad, but that Alaivadat to Arbil all attend where to get the money that is handed over the host Motmrat and that what received by Mr. Medhat al-Mahmoud of the sums of money the host side of the Conference: or the course or seminar or meeting received by Mr. Medhat al-Mahmoud for himself and does not go to the Supreme Judicial Council and is overpriced significant financial to deflect suspicion from himself is Mr. Medhat al-Mahmoud include the phrase (not withstand Supreme Judicial Council any amounts incurred on scholarship and including pocket money)


    2: The President of the Supreme Judicial Council, Mr. Medhat Hamoudi Hussein Mahmood is sending junior staff of the Qrabah or found to have a mode with Mr. Medhat al-Mahmoud out of Iraq in the trips are reserved for judges and public prosecutors and courses turned and of conferences and working and seminars and invitations up to the Supreme Judicial Council of the US embassy or the EU mission to the field of administrative corruption through sending staff have nothing to do with those courses Is it conceivable that Mr. Medhat al-Mahmoud dispatching employees entitled reformer to the role of the EU courses for judges in criminal justice or send employees to the United Arab Emirates (Dubai) and they do not exceed Thsalihen school middle school for the purpose of shopping in Naif markets and Sharjah, and most of the staff who are dispatched them from the presidency of the Supreme Judicial Council, the staff and with cronyism and clientelism and is not intended to develop the work in the courts and including the dispatch of employees in the Supreme Judicial Council, including the director of the budget in the Supreme Judicial Council (Leila Fadel) to South Korea and send employees many to Lebanon for the purpose of tourism and shopping, but that one of the employees have been sent to outside Iraq in the EU courses for the fact that his relatives live in that state For the purpose of their meeting to the difficulty of obtaining a visa for those countries and that most of the staff who are dispatched to these countries is not related to the competence of those courses and not realized any benefit only breast-feed for those cliques close to Mr. Medhat al-Mahmoud and the staff, Mr. Asad Zia Khomas, one of the those Petrtb trips and travels and of the nature of these deputations and the host country and the nature of those privileges obtained by the employee from those trips and who receive payments from those trips and that Mr. Asad Zia Khammas who served as Director of Public Relations at the Supreme Judicial Council is responsible for those trips in coordination with the President of the Supreme Judicial Council, Judge Mr. Medhat al-Mahmoud in the selection of candidates for the trips staff and trips that have been sending his son, Mr. Chief Justice of the Supreme Council, Mr. Medhat al-Mahmoud and is (Laila Medhat Hamoudi Hussein Mahmood) was dispatched with her husband, Dr. Sarmad religion ATM though they are not employees of the Supreme Judicial Council, was dispatched to Lebanon in his ad hoc judges, the call of the Arab Center for fairness and integrity and is not lawful to Mr. Medhat al-Mahmoud said the dispatch of his daughter and her husband, Dr. Sarmad religion teller and is the husband of his daughter and nephew Is reasonable to Alaivadat turn into the ruling family of the Iraqi judiciary to the daughter of Mr. Medhat al-Mahmoud and his nephew in addition to sending confidante of Mr. Medhat al-Mahmoud Nidal Ali Atmich (Umm Abdullah) in a lot of trips and Mrs. symbolic Kazim in trips permanent and that there is exploitation of the file Alaivadat in Council Supreme Judicial in staff nomination does not deserve a scholarship, and that all the orders issued by the President of the Supreme Judicial Council, Mr. Medhat al-Mahmoud found in the Public Relations Department in the Supreme Judicial Council for the years of (2003_ -2014) will be sent to the Integrity Committee in the House of Representatives and regulators for investigation because the President of the Supreme Judicial Council Judge Mr. Medhat Hamoudi Hussein Mahmoud behaved cause for suspicion and distrust and wasted the prestige of the judiciary


    Bcesp actions in violation of the law in the exploitation of career influence in the allocation of trips for personal relationships by those close to him, and the absence of any controls for travel only relations suspicious and shady practices that take place in the Supreme Judicial Council and the unspeakable cruelty and that all the rudiments Allaevadat found to have and has been obtained from by staff at the head of the Supreme Judicial Council to uncover the corruption that is going on in the Supreme Judicial Council and how the transformation of the Supreme Judicial Council to tourism companies and travel by some of the staff and employees, a crime punishable by the Iraqi Penal Code and has been awarded with Mr. Rahim Ugaili to the central criminal court in Karkh been convicted her and sentenced him to be dispatched staff to the Integrity Commission out of Iraq, how the Lord President of the Supreme Judicial Council Mr. Medhat Hamoudi Hussein Mahmood, who sent staff addresses (driver, repairman, assistant foremen, assistant accountant) to participate in the ad hoc courses for judges in terrorism and integrity or personal status, which requires taking legal action against the accused Medhat Hamoudi Hussein Mahmood in accordance with Article 331 of the Penal Code and the immediate withdrawal of the hands of Mr. Medhat al-Mahmoud for being one of the crimes of the administrative and financial corruption

    3: The dispatch of judges and public prosecutors in the Supreme Judicial Council where no controls are no file or instructions and that the calls received by the Supreme Judicial Council, controlled by the President of the Supreme Judicial Council and the basis of personal relationships and courtesies and Allowasatat and is unfair and fair and not to any judge may talk about or object to them and in one occasion contact one gentlemen judges Balmaaon judicial Asad Zia Khammas to show how the nomination of the names of the judges to send in courses and travel to the judges to participate in the special terrorism courses or fairness or international visitor trips to the United States of America given the name of the judge and are written off name by Mr. Chief Justice, the Supreme Council of Justice Medhat Hamoudi Hussein Mahmoud and dispatching judge close to Mr. Medhat al-Mahmoud and there is no relationship to the travel of the judge is doing at the beginning in an ad hoc judges terror cycle and this is what happened in dispatching Judge Shehab Ahmed Yassin court judge initially Rusafa to participate in the judges terrorism course in the United States and send Judge super Zidane in all deputations to the Supreme Judicial Council France and the United States, Italy, Turkey, Lebanon and all Alaivadat involving Judge super Zidane and even that does not relate to the courts of the penalty, which called in the Supreme Judicial Council Bmudall Mr. Medhat al-Mahmoud and deputations of judges based on the basis of incorrect and marred by corruption, administrative and financial, and the judges who have no mode with Mr. Chief Justice of the Supreme Council of Justice Medhat al-Mahmoud does not include dispatch out of Iraq because Alaivadat confined to those closest to Mr. Medhat al-Mahmoud, and there are judges find them in every traveling from trips and that legal violations in Alaivadat file out of Iraq and exploit the career of influence by the President of the Supreme Judicial Council Judge Medhat al-Mahmoud ask to take legal action against the accused Medhat al-Mahmoud in accordance with Article 331 of the Penal Code and the investigation Alaivadat file in the presence of serious legal violations and irregularitiesCopy to:Integrity Committee in the Iraqi Council of Representatives transmit file corruption in Alaivadat outside Iraq in the Supreme Judicial Council, with appreciate

    OOTW- NO WONDER THE NEW GOVERNMENT PLACED A BAN ON TRAVEL..LOL


    Eliminating one interception denies Congress the Court of Cassation to make the movement of judges


    Date: 12/01/2014 20:04








    Information / Baghdad / ..

    denied the Supreme Judicial Council, on Monday, as a convicted fugitive Rahim Ugaili in some media talked him that one of the vice Federal Court of Cassation had contacted him and expressed his objection to the decision to perform the movements of the judges.

    According to a statement of the Council received by the agency / information / copy him, "it was the meeting deputies of the Federal Court of Cassation, and they both Mr. ultra Zidane vice president judge, and Vice President Judge Saadi al-Obeidi, and Deputy Judge Zuhair al-Kanani President", adding that "the House of Representatives denied contact permanently Baekala, where he wanted to eliminate and issued against him penal several provisions, and unbecoming of any judge to communicate with him. "

    He added that "the Vice-President of the Federal Court of Cassation denied that be why the decision to move the judges and the presence of corruption charges or bias or shortened by Messrs judges included transport because the transport is not a punishment for those who send him these charges, but they can be interrogated in the form of judicial supervision. "

    The deputies according to the statement that "the transfer of judges, administrative procedures periodically and annual accustomed to the Supreme Judicial Council to be held periodically and there are no charges related to charges of corruption or bias and failure of any covered judge these actions, not in particular that the judiciary in the courts is to spend one and navigate between these courts at the heart of the work of the judge It is not a punishment for him. "

    For his part, Vice President of the Federal Appellate Court Judge Saadi al-Obeidi denied According to the statement, he objected to the Supreme Judicial Council's decision at its last meeting regarding the transfer of judges he was not originally present in the meeting.

    He noted that "the reason for not attending is assigned the task of the presidency by virtue of the Civil extended body in the Federal Court of Cassation, which held its meeting on the same day the Supreme Judicial Council in session (11/24/2014) based on date predetermined before determining the Supreme Judicial Council session, and the fact that the resolution of litigation at the end of the year was an important action that body meeting held on the same day. "

    Finished / 25



    http://www.almaaloma...احد-نواب-محكمة-






    Saad Abdullah Mohamed Zidan lahibi

    21/12/2011

    http://www.iraqja.iq/shheedq.php

    HERE'S ZIDANE LISTING FROM THE IRAQI SUPREME JUDICIARY SITE

    I CANNOT LOCATE "JANABI" AT THE SJC SITE- I SUSPECT THE NAME IN ARABIC READS DIFFERENTLY







    Last edited by OOTW; 01-22-2015 at 07:39 PM.

  10. #10

    Re: The Dinar Daily, Thursday January 22, 2015

    Currency Auctions

    Announcement No. (2871)

    The latest daily currency auction was held in the Central Bank of Iraq on the 22-1-2015 results were as follows:


    DETAILS NOTES
    Number of banks 15
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 108,544,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 108,544,000
    Total offers for selling (US$) -----
    ​Market Rate 1217

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