" The Dinar Daily ", Saturday, 14 March 2015
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  1. #1

    " The Dinar Daily ", Saturday, 14 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 ", Saturday, 14 March 2015


    Holidays in (2015) in addition to Friday and Saturday

    Jan. 1 New Year's Day

    *4 Prophet's Birthday

    6 Army Day/1921
    Mar. 21 Spring Day
    May 1 Labour Day
    July 14 14th Revolution /1958

    *19 Id Al-Fitr (3Days)
    Sep. *25 Id Al-Adha (4Days)
    Oct. *15 Islamic New Year
    *24 Ashoura Day

    Dates noted with asterisk (*) are approximate



    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1233.395 1232.778
    British pound GBP 1755.180 1754.302
    Canadian dollar CAD 913.507 913.050
    Swiss franc CHF 1159.046 1158.466
    Swedish krona SEK 135.975 135.907
    Norwegian krone NOK 142.473 142.402
    Danish krone DKK 165.355 165.272
    Japanese yen JPY 9.619 9.614
    Drawing Rights
    SDR 1603.460 1602.658

    Indicative rates - 14.03.2015 ???


  3. #3

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Mosul residents prepare for battle

    While the Iraqi army and popular mobilization forces wage bloody battles to liberate Tikrit from the Islamic State (IS), the terrorist group is preparing to protect Mosul in anticipation of the next battle.

    Summary⎙ Print The Islamic State plans to use Mosul's 1.5 million residents as a human shield in its inevitable battle against the Iraqi army and international forces.

    Author Saleh EliasPosted March 13, 2015

    TranslatorPascale Menassa

    Mosul residents are expecting a huge battle involving the international alliance’s air force — and perhaps US ground forces — to liberate the IS stronghold. The organization’s militants have been digging trenches, erecting a high wall and taking other measures that can no longer go unnoticed by Mosul citizens.

    A Mosul resident who chose to use a pseudonym Sabah al-Ali told Al-Monitor: “For weeks, large vehicles have been working on digging a trench around the city.” He said that the trench is about 2 meters wide and over 1.5 meters deep, extending over long distances from the city's west and south, about 10 kilometers (6 miles) from the nearest inhabited area.

    Ali said that digging such a huge trench is a massive project requiring laborious efforts. For that reason, IS agreed to pay a contractor $4,000 for each kilometer of trench.

    An employee of Mosul’s municipality directorate told Al-Monitor on condition of anonymity that IS is using the vehicles of the municipality's service departments to dig garrisons at the main entrances of the city and to plant visible explosive barrels on the roads.

    These projects are being implemented not far from the international alliance’s air raids, which targeted several drilling vehicles on Feb. 15. The municipality employee said that an air raid destroyed his large drilling equipment, which IS had seized in February to dig garrisons in As-Sahaji, south of Mosul.

    He said that a high wall had also appeared along Mosul's roadsides. The wall is made of cement blocks, which Iraqi security forces hid behind to take cover from the coalition’s airstrikes at Bawabat al-Sham, the western gateway to the city.

    Eyewitnesses in Mosul said that IS formed a second defense line outside the city with the cement blocks, placing them about a kilometer from the trench. The wall appeared on both sides of the road leading to Mosul to obstruct cars, except in areas tightly controlled by IS.

    IS is expecting a battle and is using all its capacities to prepare. Despite the intense shelling by the international coalition, IS continues to produce booby-trapped cars, bombs and explosive barrels in the Mosul industrial regions under its control. Moreover, IS' bombing of the city's entry points and main roads persist, so as to obstruct entry into Mosul.

    Although the preparations are not secretive, few people in Mosul know their details, given the residents' constant fear. Still, residents have noticed other details that might seem insignificant to outsiders. For instance, IS members have begun to mask their faces while walking in the markets and punishing civilians in public, out of fear that the tables might turn on them.

    What scares Mosul residents most is that they cannot leave the city. Mosul resident Ahmad Hamdani and his family have been trying to relocate to any region controlled by the Iraqi state for two weeks but to no avail.

    Khaled Younis, a travel agency manager, told Al-Monitor, “Many families are seeking an escape, as they feel the danger is approaching. The expected military operations will be harsh, but IS militants have ordered us to suspend flights and close travel agencies.”

    A doctor from Mosul told Al-Monitor on condition of anonymity that the new instructions issued by IS only allow sick people to leave, provided they give proof of the impossibility of treatment in Mosul hospitals. A committee led by a Tunisian doctor who is an IS member was delegated with distributing medical reports. Healthy people can no longer obtain travel permits.

    The Iraqi doctor is one of the few who is allowed to travel to Baghdad to visit with his family. They have been apart for four months, and he stayed only two weeks in Baghdad before returning to Mosul. He was only allowed to travel on condition of his return, which one of his relatives had to guarantee, lest he be killed.

    These unprecedented measures have intimidated many citizens and made them all the more aware that IS militants will fight until death.

    IS is playing a very dangerous card by using Mosul's 1.5 million residents as a human shield. A humanitarian catastrophe is looming.

    The majority of Mosul residents are no longer free to make decisions in their lives. Most have caved to the pressures and accepted their fate.

    Meanwhile, they await the imminent battle. Many families have even started storing food supplies in anticipation of an unknown future.

    Read more: http://www.al-monitor.com/pulse/orig...#ixzz3UL7EIG9r

    COMMENT : I HAVE STATED FOR WEEKS THAT THE CURRENT POPULATION OF MOSUL IS about ONE (1) MILLION. " .......... the people of Mosul, whose population after the events likely remains at around a million inhabitants,..... " http://www.aljazeera.com/indepth/opi...742263820.html AND " The population (estimated at 1,846,500 in 2004) is mainly Kurdish with a significant Christian minority and a Yazidi population that lives in the Sinjar mountains to the west of Mosul." http://www.encyclopedia.com/topic/Mosul.aspx . - chattels
    Last edited by chattels; 03-14-2015 at 07:05 AM.

  4. #4

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Lawmakers see Iran's rise as key concern in fight against IS

    Iran has emerged as a main issue for Congress as it debates whether to give President Barack Obama the powers he wants to battle the Islamic State (IS) in Iraq.

    Summary⎙ Print Republicans focus on Tehran in first hearing since Tikrit offensive.

    Author Julian PecquetPosted March 11, 2015

    In their first hearing on the issue since last week's assault on Tikrit by Tehran-trained Shiite militias, members of the Senate Foreign Relations Committee on March 11 repeatedly asked US officials whether defeating IS would only empower Iran. Most senators had no ready solutions to offer, but several suggested a beefed-up US presence was the only way to keep Iran in check.

    "In many ways, every single thing the United States is doing right now in Iraq to deal with [IS] … is really inuring to the benefit of Iran," Chairman Bob Corker, R-Tenn., said in the opening to the hearing. "In other words, we're making Iraq a better place for Iran."

    He pointed to Iranian influence on the Iraqi government and parliament, Shiite militias' central role in the battle to retake Tikrit and the emergence of Iran's Quds Force Cmdr. Qasem Soleimani as a popular hero in the fight against IS.

    The panel's top Democrat, Sen. Robert Menendez, D-N.J., shared similar concerns.

    "At the end of the day, we have different goals as it relates to Iraq," he said. "Both in the short term as it relates to [IS] and in the long term of a democratic, multi-ethnic government."

    More hawkish voices seemed to endorse greater US engagement as a counterweight.

    Last week, Sens. John McCain, R-Ariz., and Lindsey Graham, R-S.C., accused the Obama administration of "capitulating to Iran’s ambitions for regional hegemony."

    "We will never destroy [IS] without empowering Sunnis who want to rise up and fight [IS] themselves," they said in a statement. "We cannot jeopardize that Sunni support through the delusion of Iran’s ‘positive influence’ in the fight against [IS]."

    Several lawmakers at the hearing agreed.

    "[It's] our concern that if it's Iran that is at the tip of the spear here — if they're the ones sponsoring victories — they're going to have influence in Iraq, and that's going to be … very dangerous for the regional peace," said Sen. Ron Johnson, R-Wis. "I'm not seeing the full commitment out of this administration and as a result we're seeing the growing influence — a very dangerous influence — of Iran."

    Sen. Marco Rubio, R-Fla., came closest to arguing for an influx of US troops to Iraq. He accused the Obama administration of ruling out that option to avoid antagonizing Tehran as it negotiates a nuclear deal.

    "Iran's goal is to become the most dominant regional power. And in that realm, they see a US military presence as a threat or an impediment to that goal," said the potential 2016 presidential candidate. "I believe that much of our strategy with regards to [IS] is being driven by a desire not to upset Iran so that they don't walk away from the negotiating table and the deal that you're working on."

    Secretary of State John Kerry pushed back hard, accusing the freshman senator of being out of his depth.

    "The facts completely contradict that," Kerry told Rubio. "I think you're misreading it if you think there isn't a mutual interest with regard to Daesh [IS] among every country in the region."

    Kerry went on to say that Iran's expanding influence in surrounding countries remains a top concern for the Obama administration, even as diplomatic talks continue. He said the United States was working closely with its Arab partners in the region to "counter" that Iranian influence.

    "I am confident that we will, all of us together, take the steps necessary to counter what Iran is doing in other ways," Kerry said.

    Joint Chiefs Chairman Martin Dempsey expounded a little more on the risks posed by Iran.

    "There's six things that from the military perspective's concern us about Iranian influence," Dempsey said. "The four regional concerns are surrogates and proxies that are present in Iraq, Syria, Lebanon; weapons trafficking; ballistic missile technologies; and mines that they've developed to be able to close the Straits of Hormuz. And then the two global threats, of course, are their nuclear aspirations … for a weapon, which is being dealt with through negotiations on a diplomatic tract, and cyber is the other global threat they pose. So Iran's activities across the region … are a concern for us."

    But he said there was a "general consensus" among coalition partners that "anything anyone does to counter [IS] is in the main a good outcome."

    While there was "no indication" that Shiite-backed militias "intend to turn on us" once IS is defeated, Dempsey said the United States was "watching closely whether the militias, when they recapture lost territory, engage in acts of retribution and ethnic cleansing."

    "We are all concerned about what happens after the drums stop beating and [IS] is defeated and whether the government of Iraq will remain on a path to provide an inclusive government for all of the various groups," Dempsey said. "Believe me, I share your concerns. The Tikrit offensive will be a strategic inflection point one way or the other, in terms of easing our concerns or increasing them."


  5. #5

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Abadi, Hakim discuss political updates

    Saturday, 14 March 2015 10:05

    Baghdad (AIN) –The head of the Supreme Iraqi Islamic Council, Ammar al-Hakim, and the Prime Minister, Haider al-Abadi, discussed the political updates and the victories of the security forces and volunteers against the Islamic State of Iraq and Levant terrorists.

    A statement by Hakim's office received by AIN cited "Hakim received Abadi at his office in Baghdad on last Friday."

    "Hakim confirmed that victory will be announced soon against the ISIL terrorists," the statement concluded.


  6. #6

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Parliament ends Thursday’s session to be resumed on Saturday.

    12/03/2015 16:24

    BAGHDAD / Nina /-- Presidency of the Council of Representatives ended its ordinary hearing of Thursday to be resumed next Saturday.

    The House of Representatives began in the afternoon today’s session chaired by Speaker Salim al-Jubouri, with the presence of / 230 / deputies.

    Today’s hearing agenda includes , reading of report of the Commission of martyrs and victims and political prisoners, the first reading of the draft modulated law , the first reading of the draft ratification of the Arab Convention for the organization of passenger transport on roads between Arab states and others,


  7. #7

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Parliament session starts

    Saturday, 14 March 2015 11:47

    Baghdad (AIN) –The parliament session of Saturday has started, the session is headed by the Speaker, Saleem al-Jobouri, and attended by 170 MPs to read three law drafts



    Parliament adjourns its session till further notice

    Saturday, 14 March 2015 13:27

    Baghdad (AIN) –A heated debate took place between the Speaker, Saleem al-Jobouri, and the MPs of Ahrar bloc resulted in postponing parliament session until further notice

    MP Majid Shinkali, of the Kurdistani Alliance said "The debate took place over naming the Deputy Head of Services Parlaimentary Committee."



    Parliament session adjourned till next Monday

    Saturday, 14 March 2015 13:46

    Baghdad (AIN) –The parliament Speakership decided to adjourn the parliament session till next Monday on the back ground of heated debate between Speaker and Ahrar MPs, according to MP, Huda Sajad.


    and / but

    Iraqi parliament cancelled as tempers flare
    By RÛDAW

    BAGHDAD, Iraq – A session of the Iraqi Parliament was stopped after tempers flared between the parliamentary speaker and a Sadrist lawmaker, a further example of simmering political disputes in the Iraqi capital.

    According to the reports from Baghdad, the verbal dispute erupted between Hussein al-Awadi, a Shiite parliamentarian from the Sadrist Movement, and Salim Al-Jubouri, the Sunni speaker, over appointments to a key infrastructure committee.

    No new date is yet set for the next Iraqi parliament gathering.

    “The situation went wrong inside parliament, the parliament speaker and a lawmaker from Sadr faction, among the others, argued over the membership of Services and Construction Committee,” Abdulwahab Ali, a Kurdish lawmaker in Iraqi parliament, told Rudaw.

    Ali continued: “The head of the Service and Construction Committee used to be in the hands of the Kurds, but now is under the guidance of State of Law coalition. Meanwhile, the Sadr faction wants the committee to be under its control.”

    Last edited by chattels; 03-14-2015 at 10:31 PM.

  8. #8

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Peshmerga help Shiite militia in ‘intense’ fight south of Kirkuk
    By Rudaw

    ERBIL, Kurdistan Region- Peshmerga artillery forces shelled ISIS militants in a fierce battle with the Shiite militia known as Hashd al-Shabi in the village of Bashir, Kirkuk province.

    Hunar Ahmed, A Rudaw correspondent on the scene, reported on Saturday the Shiite fighters, part of the People’s Mobilization Forces, had been struggling for four days to take control of Bashir, located 25 km south of Kirkuk city.

    “The Shiite militants deployed an estimated 4,000 gunmen and asked the Peshmerga to help them,” said Ahmed.

    In what was described as intense fighting, Peshmerga bombing helped thwart ISIS militants in a counter-attack on Bashir.

    Last week, Kurdish forces backed by coalition airstrikes launched a large-scale campaign that managed to clear ISIS from large tracts of territory south of Kirkuk and its oilfields.



    Miscellaneous Security News elsewhere : http://www.alliraqnews.com/en/index....rity-news.html

  9. #9

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    Iraq militia leader hails Iran's 'unconditional' support
    By Associated Press

    TIKRIT, Iraq — The U.S. has failed to live up to its promises to help Iraq fight Islamic State extremists, unlike the "unconditional" assistance being given by Iran, the commander of Iraq's powerful Shiite militias alleged Friday.

    In a battlefield interview near Tikrit, where Iraqi forces are fighting to retake Saddam Hussein's hometown from the militants of the so-called Islamic State, commander Hadi al-Amiri criticized those who "kiss the hands of the Americans and get nothing in return."

    Iraqi forces entered Tikrit for the first time Wednesday from the north and south. On Friday, they waged fierce battles to secure the northern neighborhood of Qadisiyya and lobbed mortar shells and rockets into the city center, still in the hands of IS militants. Iraqi military officials have said they expect to reach central Tikrit in two to three days.

    The Iranian-backed Shiite militias have played a crucial role in regaining territory from the Sunni extremists of the Islamic State group, supporting Iraq's embattled military and police forces.

    An Iraqi government official told The Associated Press that Iran has sold Baghdad nearly $10 billion in arms and hardware, mostly weapons for urban warfare like assault rifles, heavy machine-guns and rocket launchers. The official spoke on condition of anonymity because he was not authorized to brief the media.

    In November, President Barack Obama authorized the deployment of up to 1,500 more U.S. troops to bolster Iraqi forces, which could more than double the total of American forces in Iraq to 3,100. The Pentagon has made a spending request to Congress of $1.6 billion, focusing on training and arming Kurdish and Iraqi forces. According to a Pentagon document prepared in November, the U.S. is looking to provide an estimated $89.3 million in weapons and equipment to each of the nine Iraqi brigades.

    The U.S.-led coalition of eight countries has launched more than 2,000 airstrikes in Iraq alone since August 2014, and the U.S. is also hitting the militant group from the air in Syria. Iraqi and U.S. officials have acknowledged the role airstrikes have played in rolling back the militants, saying the air campaign was an essential component in victories at the Mosul Dam, in Amirli, and more recently, in the crucial oil refining town of Beiji.

    But the U.S. is not taking part in the operation in Tikrit, with U.S. officials saying they were not asked by Iraq to participate.

    Al-Amiri, the Shiite militia commander who also is head of the Badr Organization political party, said that "help from Iran is unconditional."

    He warned that Iraq should not sacrifice its sovereignty for the sake of receiving weapons and assistance from the U.S., suggesting the Iraqi government is taking instructions from Washington.

    "Our sovereignty is more important than U.S. weapons," he said. "We can bring weapons from any country in the world."

    Separately, Grand Ayatollah Ali al-Sistani, Iraq's top Shiite cleric, urged the government to step up its support for the Shiite militias and to take care of the families of militiamen killed in battle. His remarks were relayed by his spokesman Ahmed al-Safi in the Shiite holy city of Karbala.

    As many as 30,000 men are fighting the extremists in Tikrit — most of them volunteers with various Shiite militias, Iraqi officials say. U.S. Gen. Martin Dempsey said Wednesday that up to 20,000 militiamen may be involved.

    Karim al-Nouri, a spokesman for the Popular Mobilization Forces, the official name of the Shiite militias, said as many as 40 Iranian advisers are also taking part.

    In its march across Syria and northern and western Iraq, the Islamic State group — also known as ISIS or ISIL — has seized cities, towns and vast tracts of land. Its predominantly Sunni fighters view Shiites as apostates and have carried out a number of massacres.

    On Friday, a prominent Iraqi Sunni preacher urged authorities to prevent Shiite militias from carrying out revenge attacks on Sunnis in Tikrit. In his appeal, Sheik Abdel Sattar Abdul Jabbar cited reports of Shiite militiamen burning Sunni homes in the battle.

    "We ask that actions follow words to punish those who are attacking houses in Tikrit," Abdul Jabbar said during his Friday sermon in Baghdad. "We are sorry about those acting in revenge that might ignite tribal anger and add to our sectarian problems."

    Abdul Jabbar said that if the government failed to stop revenge attacks by Shiite militias, Iraq would face reignited sectarian tensions, similar to those it witnessed at the height of Iraq's sectarian wars in 2006 and 2007.

    Prime Minister Haider al-Abadi last week called on his forces to protect civilians and their property in recaptured areas, vowing zero tolerance for any violations. He also urged Sunnis who may have welcomed the initial onslaught or fought beside the militants to give up their support for IS.

    "I call upon those who have been misled or committed a mistake to lay down arms and join their people and security forces in order to liberate their cities," al-Abadi said.


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

  10. #10

    Re: " The Dinar Daily ", Saturday, 14 March 2015

    13/03/2015 10:58 Central Bank: Calculation of customs ratios mechanism

    It was agreed to determine the customs at the level of each article descent to avoid the integration of some high levels with low ratios, especially of essential commodities.

    BAGHDAD / Obelisk: Central Bank held an urgent meeting with specialists in the General Administration of Customs and the tax is calculated on the customs tariff trusts established in the law attributed to him, while the ratios were determined at the level of each article in order to avoid the integration of some high levels with the low.

    The bank said in a statement, seen by the "Obelisk", on Friday, "The central bank held an urgent meeting with specialists in the General Administration of Customs, as well as taxes for clarification about the calculation of customs trusts established in the tariff and the amount currently Banking Law attributed to him."

    He said the bank "was determined ratios at the level of each article in order to avoid the integration of some high levels with low ratios, especially of essential commodities," he said, adding that it "will act in accordance with it by the banks."


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