" The Dinar Daily ", Thursday, 5 March 2015
Page 1 of 6 123 ... LastLast
Results 1 to 10 of 53

Thread: " The Dinar Daily ", Thursday, 5 March 2015

  1. #1

    " The Dinar Daily ", Thursday, 5 March 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


    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
    – 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 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″..

    __________________________________________________ ______________


    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.



    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.


    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.


    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,

  2. #2

    Re: " The Dinar Daily ", Thursday, 5 March 2015


    US dollar - USD - 1166.000 - 1164.000

    Euro EUR 1297.058 1296.410
    British pound GBP 1788.761 1787.866
    Canadian dollar CAD 937.299 936.830
    Swiss franc CHF 1211.680 1211.075
    Swedish krona SEK 140.910 140.839
    Norwegian krone NOK 150.566 150.491
    Danish krone DKK 173.926 173.839
    Japanese yen JPY 9.752 9.747
    Drawing Rights SDR 1634.907 1634.089

    Indicative rates - 05.03.2015

    Last edited by chattels; 03-05-2015 at 07:17 AM.

  3. #3

    Re: " The Dinar Daily ", Thursday, 5 March 2015

    Iraqi provinces take ex-Baathists to court

    Iraq's de-Baathification crisis resurfaced Feb. 2, when the Cabinet approved amendments to the Justice and Accountability Act, which deals with the country's ex-Baathists and the banning of the Baath Party. The political agreement that established Prime Minister Haider al-Abadi’s government also provided for the closure of the Baath Party issue, referring it to the judiciary. Now, individuals who would like to sue the former ruling party have the right to do so, yet their lawsuits must target individual members who have committed crimes, not the entire dissolved party.

    Summary⎙ Print Iraq's de-Baathification law has been a matter of controversy since its adoption in 2003, as some argue that the firm measures against former Baathists led to terrorism.

    Author Mustafa al-KadhimiPosted March 4, 2015

    TranslatorSahar Ghoussoub

    The State of Law Coalition adopted the new law, with the Sunnis and the Union of Nationalist Forces in opposition. Yet the new law is not in line with the aforementioned political agreement, according to which the Baath Party can be tried as a whole.

    Since the de-Baathification law was first adopted in 2003 by US civil administrator Paul Bremer, Iraqis have been deeply divided on the law’s interpretation, application and usefulness. Sunni forces have always opposed the law, as they believe it primarily targets Sunnis, given that the Baath Party's most prominent leaders were Sunnis. The law was amended in 2008 and 2013, without resulting in a proper solution. The amendments often just reduced the number of people affected by the political ban or dismissals.

    De-Baathification legislation seeks to prevent the Baath Party, which ruled Iraq from 1968 to 2003, from ever rising to power again. This goal was addressed in Article 7 of the 2005 Iraqi Constitution, which halted all the party's activities. It stipulates: “No entity or program, under any name, may adopt racism, terrorism, the calling of others infidels, ethnic cleansing, or incite, facilitate, glorify, promote, or justify thereto, especially the Saddamist Baath in Iraq and its symbols, regardless of the name that it adopts. This may not be part of the political pluralism in Iraq. This will be organized by law. “

    Yet the Iraqi conflict on the issue does not center around the prohibition of the party — it centers around how to deal with the estimated millions of ex-Baathists in the country.

    In the first version of the de-Baathification law in 2003, sanctions were imposed on a wide range of Baathists for participating in political life and working in state institutions. This provoked a crisis, given the large number of Baathists. In 2008, the Justice and Accountability Act was issued in an attempt to limit the sanctions to senior Baathist officials.

    Sunni political forces, often supported by some Shiites and Kurds, continued to criticize the implementation of the de-Baathification measures, which they believed were used to eliminate political opponents and further personal interests. The implementation of these measures would also happen selectively, as many Baathists continued to occupy positions in the state, security forces, army and judiciary, all under the protection of political parties.

    The legal aspect was absent in the application of the de-Baathification procedures, as the issue was only dealt with on a political level. The law was supposed to differentiate between those Baathists whose hands were stained with the blood of Iraqis, and those who were forced to join the party to obtain a job and never committed any crimes.

    Iraqi political forces are so divided over the interpretation of the law that it seems a final solution will never be reached. Even the latest version proposed by the Iraqi Cabinet, which stipulates a one-year deadline for the implementation of the final de-Baathification procedures, was deemed by Sunni politicians to be "the worst" vers
    ion so far.

    The problem is that the issue of former Baathists is not only a matter of political consensus, but it is also a step toward long-term social reconciliation in Iraq. Furthermore, the previous de-Baathification procedures have left major complaints and grievances in their wake.

    Abadi’s government has decided to decentralize the issue, which could be the key to resolving the de-Baathification issue in the long run. Every sector will deal with the Baathist file according to its circumstances and needs, so long as a timeframe is not set.

    Insisting on carrying out unified de-Baathification procedures throughout Iraq is not in line with the decentralization methodology announced by the government, as the government insists on applying decentralization as part of comprehensive political reforms.

    The constitution bans and criminalizes any affiliation with or activity on behalf of the Baath Party. However, also according to the constitution, former Baathists are not to be dealt with as individuals. Every Baathist must be held responsible for his actions. The perpetrator of a crime must be prosecuted by the courts, and the innocent individual can carry on a normal life.

    By turning the constitution into a unified mechanism, a comprehensive law will put forth the general guidelines on how to prevent the Baath Party from engaging in politics or infiltrating the political process.

    As for dealing with individual Baathists, governorates and provinces can do so in accordance with the decentralized powers granted to them. Governorates such as Najaf, Erbil, Karbala or Dhi Qar — which have suffered tremendously at the hands of the Baath Party — have the right to be more rigid in dealing with ex-Baathists. In 1991, Saddam Hussein's regime killed thousands and destroyed entire cities with the help of the Baath Party during an uprising in southern and northern Iraq.

    Meanwhile, governorates such as Anbar, Salahuddin and Ninevah — the former social and administrative backbones of the party — have the right to be more lenient, so long as they adhere to the law.

    This decentralized approach is likely to raise criticisms. In the opinion of some, it could open the door to social division. Moreover, decentralizing the issue does not prevent ex-Baathists from taking advantage of these lax measures and grouping together to carry out a coup.

    All scenarios are plausible. Many Iraqis believe that Baathists, instead of being contained, have been pushed toward extremism. Iraqis view the previous mistakes made on the ex-Baathist file as producing the current destabilized social structure and leading to terrorist control over Iraqi territories.

    The de-Baathification process requires exceptional political efforts and new concise procedures that hold Baathist criminals accountable and integrate the innocents into the state.



    Amended version of the Justice and Accountability Act

    Long-Presse get government amendments to a draft of the de-Baathification law

    Article 1 the following terms for the purposes of this law, the meanings set out towards them.

    I. the Authority: the supreme national body was for Accountability and Justice

    Second, the Baath Party (defunct): Arab Socialist Baath Party, which seized power in Iraq on 17/7/1968

    Thirdly User: Everyone belonged to the Baath Party (dissolved) and led the oath of allegiance to him.

    Fourthly the former regime: regime that ruled Iraq for the period from 17/7/1968 until 9/4/2003.

    Fifth repressive devices: your intelligence and security and the Republican Guard and Special protections for national, military and Saddam Fedayeen and security and military intelligence agencies.

    VI agents of the former regime: persons belonging to the Baath Party (dissolved) or persons belonging to such repressive hardware or collaborators or beneficiaries of the looting of the country's wealth or who used them the former regime in any way.

    Seventh ministries and security agencies and the Ministry of Defense and Ministry of Interior and the intelligence service and the Chancellery of the National Security and other security devices.

    Article II-first establish a board called the (supreme national body was accountable justice) has a moral personality and linked to the Council of Representatives headed by Prime tray ware

    Second represents the Authority Chairman or his nominee.

    Third Vice-President of the board of the rank of Undersecretary of the Ministry.

    Fourth, the President of the President of the Authority's headquarters in Baghdad and has opened branch offices level sections.

    Fifth is the point of revealing the body was covered by the provisions of this law.

    Article 3 of the first board of the so-called Council (Council of the Authority) consists of:

    A head of the Authority president

    B Vice-President of the Authority member and vice-president

    C five members appointed special degree in accordance with law

    Second is required in the head and members of the Council to be with the political and legal experience and take into account including the balance in the representation of the components of the Iraqi society.
    [8:43:49 AM] Kimberly: Third, determine the mechanism of action of the Council and the quorum to take place and how to make decisions in which an internal system issued by the President of the Authority within 60 days from the date of entry into force of this law.

    Article IV is required in each of the Chairman of the Board and Managing be:

    I. Iraqis full civil and resident in Iraq

    Second obtained a preliminary University in the least degree

    III known for his good reputation, integrity and uprightness

    IV is not under the age of 35 years

    V. is convicted of a felony or a non-political misdemeanor involving moral turpitude

    VI is not covered by the procedures of the Authority did not raise the expense of public money.

    Article V of the Authority take what comes.

    I. A ban return the Baath Party (dissolved) thought and organized and management, policy and practice to power or political life in Iraq and institutions both public and private, cooperative and mixed sectors and civil society organizations and the Iraqi community

    ( B) includes the prohibitions set forth in paragraph (angel) of this item that comes

    (1) - belonging to the Baath party and return him or force or threat or earn any person to belong to the party in question after 9/4/2003

    (2) - to do any political activity or intellectual would encouragement, promotion or glorification of the thought of Saddam's Baath love.

    (3) - nomination in the general election or local referendums

    Secondly, a ban on the practice of any political activity or cultural or social individuals and entities, political parties and organizations that adopt racism, terrorism or atonement or ethnic cleansing, or incite or glorify or promote or justify it, especially Saddam's Baath in Iraq and its symbols under any name and by any means of or contact the media.

    B - to prevent any of the covered tightly paragraph (angel) of this item to be part of the political Altadedeh in Iraq

    Thirdly - to contribute to the detection of money acquired by agents of the former regime illegally legitimate inside and outside of the Republic of Iraq and returned to the public treasury of the state.

    Fourth - Iraqi memory service by documenting the crimes and illegal practices covered tightly items I and II of this article and devices repressive Baath Party and agents of the former regime and to provide a database available for them and make available evidence and documents have for the crimes committed them to the Iraqi judiciary and receive complaints from those affected by the due to their practices and their crimes and follow-up.

    V. A - Palmhmolin publish a list of the provisions of this Act includes the names of all individuals who have been sentenced to the resolutions of the Board of the Authority and keep the list in the dissolved Baath Party archives until the establishment of a permanent Iraqi archives and according to the law.

    B - the assignment of a copy of the archive to the Council of Ministers of the uncles on the ministries and departments is related to the Ministry and independent bodies and civil society organizations to be acted upon as a database.

    VI - to contribute to the development of social and educational programs that emphasize the political pluralism, tolerance, human rights and condemn the crimes committed by agents of the former regime.

    Seventh - coordination of the concerned authorities to do justice to the victims of the former regime's crimes and to help them obtain their rights under the relevant laws.

    Eighth - Sending a quarterly report on all of its issued and decisions to the House of Representatives.

    Article VI - first body was made up of the following configurations

    A - Office of Inspector General

    B - Office of the Attorney General

    C - the legal department.

    D - Department of Investigation

    E - Management and the Department of Finance

    And - follow-up and implementation Department

    G - Informatics Department

    H - the financial and economic pursuits circle

    I - the Department of Information

    J - Internal Audit and Prevention Department

    K - Office of the President of the Authority.

    Secondly A. runs each of the chambers provided for in item I of this article entitled employee director general holds a college degree in the least in the initial field of specialization and experienced appointed according to the law.

    B - assists the Director-General of employees entitled general manager holds a certificate of initial University in the field of jurisdiction and least experienced.

    C - all of Internal Audit and Control Department and the Office of the President of the Authority employee holds the title director manages a university degree and at least in a preliminary experienced.

    First Article 7 - Board of the Authority issued the following decisions.

    A - hauling all the staff who were at the rank member or member of the Division branch of the Baath Party machete before 9/4/2003 to retire on the basis of functional degree to which they occupied before their availability to work in the party and in accordance with the provisions of the Unified Retirement Law No. (9) for the year 2014.

    B - the assignment of all employees of the agencies of repression under the former regime to retire in accordance with the provisions of the Unified Retirement Law No. (9) for the year 2014, and the disposal of pension rights exception of the age requirement

    C - not to allow team members to return to the job in the three presidencies formations or the Supreme Judicial Council or the ministries of defense and external financial or security services.

    D - prevent the leaders and commanders of Fedayeen Saddam device and volunteered to work in the device mentioned in the enjoyment of any pension rights with the exception of pupils, students and affiliates and Almnicolon of military personnel from all ministries
    [8:44:09 AM] Kimberly: and state institutions to work in that organ

    E - non-payment of pension or grant to all Mentm dissolved Baath Party before 04.09.2003 and received a political or humanitarian asylum in any country after 20/03/2003

    And - the prevention of the degree member of the above in the ranks of the Baath Party or work in the category of political guidance from distracting special function or function of the general manager or the degree of general manager or the membership of the House of Representatives or the Federation Council or the provincial council or function administrative unit director degree.

    G - Move criminal cases against agents of the former regime and the repressive organs and belonging to political parties and entities prohibited under this law if available documented information belonging or committing criminal acts against the Iraqi people and the feminization through investigations conducted by the Authority.

    Second - all rights and exceptions set forth in the fall of this article for each of the

    A - proves judicial involvement with crimes against the Iraqi people or enriched at the expense of public money

    B - and later prove to a court order submitted false information or belonged or returned to the formations of political parties and entities banned or feet help her or promoted and will be followed by isolation of the job and claim the return of working overtime in accordance with the law of financial benefits.

    Thirdly - implement the decisions of the Council of the Authority after the verification of the identity of the covered and submit written innocence and pledge not to return to partisan activity prohibited under any name and otherwise covered tightly after item (ii) of this Article.

    Article 8 provides covered by reference to retire in accordance with the provisions of Article (7) of the Act apply to the circle of referral to retirement and has application is presented by the embassy or consulate if outside Iraq.

    Article 9 Civil grades and military ranks and medals and honors granted to a member band canceled or above in the ranks of the Baath Party (dissolved), because of their affiliation to the party in question and canceled privileges implications.

    Article 10 Aola_ form in Mahma federal discrimination discriminatory called the board (the board of discrimination for accountability and justice) of (7) judges nominated by the Chief Justice of the Supreme Council are not covered by the provisions of this law and endorsed by the House of Representatives.

    Second body was headed by senior judge where discriminatory and issued its decisions by majority.

    Third, consider the body was discriminatory in all appeals from covered by the provisions of this law.

    Article 11aola those decision by including the provisions of this law remedy of the resolution before the Council issued within (15) fifteen days from the date of notification of the decision, the amount considered.

    Second, the Council decided grievance through thirty (30) days from the day following the registration of the complaint and featured with the Council, and in the case of counting deciding grievance during the period mentioned the grievance is rejected.

    Third, the fact that those who reject his grievance or appeal a judgment against the rejection decision of the Appeals Chamber during the thirty (30) days from the date of notification of the decision of rejection or an amount considered.

    Fourth separates discriminatory body was in the appeals submitted to it and its decision shall be issued by the outcome of the appeal prohibited unless challenged by way of correction before the Federal Court of Cassation.

    Fifth covered by the provisions of this article shall continue to charge financial entitlements even gain the decision right degree of persistence.

    First, Article 12 shall be punished by imprisonment for not more than (10) ten years each:

    I belong to the outlawed Baath Party or promoted his ideas and views by any means or threatened or earn any person to belong to the party in question.

    B pursued or adopt racist or atonement or ethnic cleansing or instigated or glory or promoted or cradle or justified him.

    Secondly, the punishment shall be imprisonment for not less than (10) ten years if the perpetrator of belonging to the Baath Party before its dissolution or procedures covered by the accountability and justice.

    B penalty shall be life imprisonment if the perpetrator of the employees of the military or the internal security forces.

    Article 13 shall be punished by imprisonment for a term of not less than seven (7) years each to use force or intimidation to force citizens to leave their usual place of residence for reasons of sectarian or religious or nationalist.

    Article 14 shall be punished by imprisonment for a term not less than three (3) years, all those who contributed or helped through the media to publish thoughts and opinions of the Baath Party (dissolved) and the penalty shall be imprisonment if employees of the army or the internal security forces.

    Article 15 shall be punished by imprisonment:

    First, each employee assigned to public service or citizen deprived of his rights prescribed by law or hindered or another accomplishment of official dealings sectarian reasons or religious or nationalist.

    Secondly, every employee punished employee or spouse of functional rights for sectarian reasons or religious or nationalist.

    Third, all of the claimed exposure to discrimination and sectarian, religious or national and is shown to be invalid claim.

    First, Article 16 shall be exempt from the penalties for actions set forth in this law initiated to inform the public authorities everything he does before you start committing the act and before starting the investigation.

    Second, the court exemption from punishment if he got the communication after the implementation of the act and before starting the investigation.

    Third, the Court mitigation of punishment or exemption if the actor is easy to public authorities during the investigation or trial, arrested one of the perpetrators of the prohibited act.

    Article 17 of the Prime Minister and his deputies together, at the suggestion of the Supreme Head of the employee and after standing on the opinion of the Authority, an exception covered by any of the provisions of this law and according to the requirements of public clinic.

    Article 18 obliges the three presidencies and the Supreme Judicial Council and the ministries and departments not related to the Ministry and governorates not organized in a region and independent bodies and civil society organizations to implement decisions of the Commission issued in accordance with the provisions of this law.

    Article 19 Employees of the Authority shall receive allowances equivalent to those received by their peers in the House of Representatives.

    Article 20, first replace the supreme national body was for Accountability and Justice Foundation under the provisions of this law, the supreme national body was for Accountability and Justice Foundation shop under the Supreme National Commission for Accountability and Justice Law No. (10) for the year 2008 in all its rights and obligations and moves them all staff.

    Second, the law repealed the supreme national body was for Accountability and Justice No. (10) for the year 2008.

    Article 21 first formations of the Authority and the tasks and functions of the subdivisions subdivisions instructions issued by the President of the Commission determines.

    Secondly, the President of the Commission to issue instructions to facilitate the implementation of the provisions of this law.

    Article 22 of this law is implemented from the date of publication in the Official Gazette.


    A continuation of the measures taken by the supreme national body was accountable by the justice in the cleansing of Iraqi society and state institutions of the Baath Party system (dissolved), and the purpose of the assignment of members of organs and repressive agents of the former regime into retirement and to refer those who committed their crimes against the Iraqi people or enriched the expense of public money to the competent courts , due to the existence of cases of affiliation my photos to certain categories of people to the ranks of the party (dissolved), with no faith in the ideas of the Baath dictatorship and its repressive practices,

    For the purpose of reconstruction of not much by older to function, and to prohibit the return of the Baath Party (dissolved) and be part of the political pluralism or party in Iraq and prevent the emergence of parties or entities or persons adopt racism, terrorism, atonement or ethnic cleansing, or incite or pave or glorify or promote or justify it, especially the Baath and its symbols under any name and punished, in order to simplify the grievance procedures or appeal the decisions made by the Board of the Authority the right covered by its provisions, initiated this law.


    Courtesy of The IQD Team
    Last edited by chattels; 03-05-2015 at 01:16 PM.

  4. #4

    Re: " The Dinar Daily ", Thursday, 5 March 2015

    IS eager to confront US ground forces in Iraq

    Since first seizing Iraqi territory in June 2014, the Islamic State (IS) has carefully selected targets based on a strategic vision of the regional conflict and global repercussions, often broadcasting its intentions in videos released online. Chief among the messages related to its vision and battlefield goals is a call for direct confrontation with the United States on the territory of Muslim countries, directly challenging President Barack Obama and emphasizing points that draw attention to the American presence in Iraq.

    Summary⎙ Print Islamic State propaganda makes clear its desire to draw the United States into deploying combat troops, setting up a potentially direct confrontation.
    Author Ali MamouriPosted March 4, 2015
    TranslatorSami-Joe Abboud
    In one of its first media productions after taking control of Mosul, IS announced its goal of creating a new Middle East by wiping away the recognized borders of the current nation-states. It did so by proclaiming the annulment of the Sykes-Picot agreement and eliminating the boundary between Iraq and Syria. It also declared the establishment of an Islamic caliphate to which all Muslims supposedly belonged.

    Subsequently, the IS member who was videotaped beheading captured foreigners addressed Obama directly in the recorded killings, even before the United States assembled an international coalition to conduct military operations against the group, launching its first strikes Sept. 19, 2014. Before killing a Kurdish captive in late January this year, the executioner announced that IS would slaughter Obama in the White House and turn the United States into a “Muslim province.”

    IS has insisted on framing the current conflict as a struggle between Islam and the West, invoking the word “crusaders” to refer to Westerners. In a video posted Feb. 15 showing the mass beheadings of kidnapped Egyptian Copts, the narrator links the killing of the Christians to the death of Osama bin Laden at the hands of US commandos and vows to mix their blood with the sea in which they disposed of bin Laden's body.

    On Feb. 12, IS fighters had attacked Ain al-Asad, a base west of Ramadi in Anbar province. It is Iraq’s largest military base and the site at which more than 300 US Marines are training Iraqi military and security forces for the fight against IS. The attack was the first IS offensive after a lull of two months. The offensive began after Obama's request to Congress the preceding day to authorize an expansion of the fight against IS by sending “limited” ground troops to Iraq. Perhaps the attack was in part aimed at inflaming US public opinion and prompting Congress to vote in favor of the proposal, thus opening the door to possible direct confrontation with broader US participation in the fighting.

    Although Iraqi forces protecting the base repelled the attack, IS’ troops remained nearby, in the city of al-Baghdadi, some five kilometers away. Fighting continued in al-Baghdadi, with IS in control of most of the city and besieging the rest. IS' capture of the the city exposes Ain al-Asad to continuous threat.

    IS appears to be planning, or hoping, to challenge the United States in a ground fight in the vast areas of Iraq and Syria. IS believes that no matter how strong and numerous US regular forces are, they will not be able to win against its trained irregular fighters who have been confronting Iraqi forces in northwestern Iraq. The organization wants a repeat of the battle of Fallujah in 2004, when the United States failed to overwhelm the militia fighters in the city and lost a number of Marines before retreating. With the quantitative and qualitative progress it has made, IS envisions causing even greater losses among US troops.

    Direct participation by US forces in a war against IS would be used to provide legitimacy to IS propaganda portraying the fighting as evidence of the ongoing Western crusade against Islam. This could help the group mobilize more supporters in majority Muslim countries and among Muslim communities in the West. It could also help expand the combat zone by activating IS cells to carry out attacks in the West and eventually lead Western states to withdraw from the region, enabling IS to impose its will.

    Additional US troops might also result in confrontations with pro-Iranian Shiite militias, as Iraqis allied with Iran oppose the presence of US ground forces in the country. Some Iraqi parties have been spreading conspiracy theories about US planes airdropping food aid and gear to IS forces based on one incident of a delivery of supplies to Kurdish peshmerga inadvertently ending up in IS hands. The Hezbollah Brigades, a Shiite militia, even went so far as to announce “its intention to target US helicopters providing IS elements with weapons, gear and food by using advanced anti-helicopter missiles across the military fronts facing IS.”

    No quick or definitive solution to the problem of IS appears to be on the horizon. The eventual resolution of the crisis must, however, involve some sort of agreement among regional powers and the US-led international coalition. Meanwhile, the United States sending ground troops to Iraq unilaterally will likely only contribute to deepening and expanding the chaos.

    Last edited by pinkadonai1; 03-05-2015 at 11:13 AM.

  5. #5

    Re: " The Dinar Daily ", Thursday, 5 March 2015

    VIDEO: Kurdistan's foreign Peshmerga on the frontlines against ISIS

    Some foreign fighters have come with their own weapons and ammunition.

    Last edited by pinkadonai1; 03-05-2015 at 11:14 AM.

  6. #6

    Re: " The Dinar Daily ", Thursday, 5 March 2015

    Concern grows for civilians as noose tightens around Tikrit

    AFP By Hassan al-Obaidi

    Last edited by pinkadonai1; 03-05-2015 at 11:15 AM.

  7. #7

    Re: " The Dinar Daily ", Thursday, 5 March 2015

    The general budget of the Federal Republic of Iraq for the fiscal year 2015 Law No. (2) for the year 2015 In Federal Planning and Economy

    Posted: 2015 Feb 16 LINK TO 2015 BUDGET


  8. #8

    CBI Arabic Announcement Translated "Due to stop the public from trading cash paper ca

    CBI Arabic Announcement Translated
    "Due to stop the public from trading cash paper category (50) Dinara"

    Directorate-General for issuing and cabinets
    Section version and accounts

    ((Bjeehna the popular crowd and Iraq spent))

    To / all banks
    M / Statement

    This guide presents his compliments Bank ...

    Due to stop the public from trading cash paper category (50) Dinara Based on Article 36 of the Iraqi Central Bank Act, and (56) for the year 2004.
    We enclose herewith the statement No. 1146/12 on 2/25/2015 to withdraw the above category of trading.
    We ask you to take the necessary action whereby ... with appreciation.

    Attachments /
    - Statement.
    Ihsan Shomran Yasiri
    General manager
    2015 / March / 2

    (Below is Page 2)

    Directorate-General for the issuance and cabinets
    Section version and accounts

    Issue: 12/1146
    Date: 02/25/2015

    ((Bjeehna the popular crowd and Iraq stronger and spent))

    M / Statement

    Of view of the audience stopped from trading cash paper category (50) Dinar on the basis of the validity of the authorized us to article (36) of the Iraqi Central Bank Law No. (56) for the year 2004 it was decided as follows:
    1 - to withdraw cash from the paper category (50) dinars from circulation.
    2 - on the banks and their branches replace banknotes presented to it without a fee or commission, and the banks to deposit with the central bank and its branches for the purpose of being the equivalent value in our calculations.
    3 - The duration of the replacement category above two months starting from 03/01/2015 up to 04/30/2015.
    4 - After the replacement for the banknote become null and void and has no legal tender and will not be accepted in the Republic of Iraq.
    5 - This statement published in the official gazette and the media all.

    Ali Mohsen Ismail
    Conservative agency
    25 / February / 2015

    Original Document Link:

  9. #9

    Re: CBI Arabic Announcement Translated "Due to stop the public from trading cash pape

    Iraq to issue bonds worth billions of dollars

    BAGHDAD / Obelisk: to finance the deficit, Zebari said that the Finance Ministry is considering measures including the issuance of bonds and borrowing from state banks and the conversion of some of the Iraqi banking assets in the Central Bank to bonds.

    Finance Minister Hoshiyar Zebari said Iraq is looking with Deutsche Bank and Citibank version potential for bonds worth about six billion dollars in its efforts to cover the expected huge budget deficit this year.

    Government revenues have fallen with the drop in oil prices at a time when Iraq is waging a costly militants organize an Islamic state in the northern and western provinces military campaign, which resulted in a potential shortfall of approximately $ 25 trillion mortgage dinars ($ 21.4 billion).

    To finance the deficit, Zebari said that the Ministry of Finance is considering measures including the issuance of bonds and borrowing from state banks and the conversion of some of the Iraqi banking assets in the Central Bank to bonds.

    And perhaps also considering raising funds through sales of oil futures if the Council of Ministers rejected plans to issue bonds for ten years. Officials say the council of ministers headed by Haidar al-Abbadi sees the proposed interest rate at nine percent too high.

    And payment of the sharp drop in oil prices Zebari to review the budget for the year 2015 several times to ensure each of them a reduction in the expected revenue from crude exports. I assumed the final version an oil price of $ 56 a barrel and exports of 3.3 million barrels per day.

    Iraq's oil exports remain high since the beginning of the year without the 2.6 million barrels per day due to reasons such as bad weather at the southern export terminals and major exports disappointing from the north through a pipeline run by the Kurds. But Zebari said the amounts are increasing.

    Zebari said from his office in Baghdad, "I think people now realize that this budget realistic."

    He said the proposal to transfer 50 percent of the assets of state-owned banks with the central bank into bonds Seder about five billion dollars to get a $ 1.8 billion through the International Monetary Fund and Iraq also will use special drawing rights.

    The government has also imposed taxes on imported cars and cards of mobile phones and the Internet. And hopes to borrow six billion dollars from state banks and provide two billion dollars by reducing the rewards of government employees who earn high salaries.

    Zebari said "In general, we try projected deficit through our own resources to cover."

    He said Zebari, a Kurd, said the authorities in the capital and the Kurdistan Regional Government in the semi-autonomous north of the country is still committed to the agreement to export oil despite disagreements about the amount of exports and payments.

    Kurds complain that Baghdad did not comply with its obligations to pay them part of government spending, while Baghdad says that only a small fraction of the northern oil fields is transported for export via Turkey.

    Zebari said "we deal with different expectations and a lack of confidence. But the agreement coherent and talks were continuing."

    He added that the government has turned 250 trillion dinars for the Kurds since the beginning of the year, a small fraction of the amount originally expected. He hoped to pay the other part, and soon a new round of talks.


  10. #10

    Re: CBI Arabic Announcement Translated "Due to stop the public from trading cash pape

    Giniel says Kurdistan Iraq owes it $ 233 million

    Tomorrow press in Baghdad said one of the major producers of Giniel energy oil in the Kurdistan region of Iraq that the territory continues to have an amount owed $ 233 million in its own oil benefits to the Government of the territory and it hopes to start receiving regular payments this year.

    The company announced Thursday losses of $ 312.8 million in 2014, mainly due to the write-off of certain assets in mining operations. Revenue rose 50 percent to $ 520 million.

    And gained Giniel 3.5 percent at 0818 GMT.

    And oil companies operating in Kurdistan itself confined to the center of a dispute between Iraq's Central Government and the Government of the territory because of the rights to control the exports of crude.

    The two sides reached agreement at the end of last year, Baghdad resumed payments to the Kurdish government, but the arrival of funds was slow to companies.

    She said the Government of Iraqi Kurdistan founded Giniel to temporary local sales company which receives 50 percent of the revenue from oil sales from the TEQ.

    Tony Hayward, Chief Executive of the company in a statement, "we expect to receive regular payments from exports over the 2015".

    And the impact of low oil prices on Giniel is also where the company announced in January that it expects lower earnings this year.

    The company also cut capital spending program by 70 percent compared with last year to 200-250 million dollars and plans to cut jobs to reduce costs.

    http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Falghadpress.com%2Far%2Fnews%2F27988 %2F%25D8%25AC%25D9%258A%25D9%2586%25D9%258A%25D9%2 584-%25D8%25AA%25D9%2582%25D9%2588%25D9%2584-%25D9%2583%25D8%25B1%25D8%25AF%25D8%25B3%25D8%25AA %25D8%25A7%25D9%2586-%25D8%25A7%25D9%2584%25D8%25B9%25D8%25B1%25D8%25A7 %25D9%2582-%25D9%2585%25D8%25AF%25D9%258A%25D9%2586-%25D9%2584%25D9%2587%25D8%25A7-

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts