The Dinar Daily, Thursday March 19, 2015
Page 1 of 5 123 ... LastLast
Results 1 to 10 of 46

Thread: The Dinar Daily, Thursday March 19, 2015


    
  1. #1

    The Dinar Daily, Thursday March 19, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

    Estimate the shadow price of foreign currency:

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

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

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


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


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

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

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

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

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


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


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

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



    The Republic of Iraq – Ministry of Planning

    and

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

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

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


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


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


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


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


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


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

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


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

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


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


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

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

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





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

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

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

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

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

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

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

    __________________________________________________ ______________

    AND

    Coins put on the market !!



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

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

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

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

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

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

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

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

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

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

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

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

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

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

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

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



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

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

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

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

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

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

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

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

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


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

    Hi BGG,

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

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

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

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

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

    Kind Regards,
    Kevin



  2. #2

    Re: The Dinar Daily, Thursday March 19, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1230.946 1230.331
    British pound GBP 1724.048 1723.186
    Canadian dollar CAD 913.435 912.978
    Swiss franc CHF 1160.314 1159.734
    Swedish krona SEK 134.077 134.010
    Norwegian krone NOK 141.716 141.646
    Danish krone DKK 164.876 164.793
    Japanese yen JPY 9.605 9.600
    Special
    Drawing Rights
    SDR 1596.487 1595.689

    Indicative rates - 19.03.2015


    http://www.cbi.iq/

  3. #3

    Re: The Dinar Daily, Thursday March 19, 2015

    Zebari: The government will pay the installment of the budget for the region . -



    Finance Minister Hoshyar Zebari said the government will pay the installment of the budget to the authorities of the Kurdistan region within days, denying the existence of fears of a collapse of the private export of oil, which has helped to improve relations between the two sides oil agreement.

    Zebari said that the delay is due to the financial crisis and not to political factors, and added that the two sides remain committed to the agreement but refused to disclose the next batch size, pointing out that the reasons for the lack of liquidity of the government is the mismanagement of public finances and the costs of managing the war with al Daash to the downside sharp in oil prices, presumably that transfers be monthly by more than a billion dollars from Baghdad to Kurdistan in exchange for oil produced from the semi-autonomous region, Zebari said the agreement is still a mainstay of relations between the two parties, noting that a comprehensive agreement is of great importance to all.
    *

    Both parties are committed to it and this is encouraging, Zebari said that the agreement will not hold often good progress has been made. -

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3633039&usg=ALkJrhjTOIG0j15TAo1u5U8en8mLAKh_Og

    * COMMENT : MY SENSE OF "COMPREHENSIVE AGREEMENT " IS THAT SUCH IS A REFERENCE TO A PERMANENT, EXPANSIVE AND INCLUSIVE HCL AS OPPOSED TO THE " DECEMBER AGREEMENT " WHICH IS INCORPORATED INTO THE 2015 BUDGET AS LAW FOR THAT YEAR, BUT NOT BEYOND. THE CURRENT UNDERSTANDING BETWEEN BAGHDAD / GOI AND ERBIL / KRG DOES NOT RESOLVE SOME IMPORTANT ISSUES, TO WIT: 1) ENTITLEMENT ON EXCESS PRODUCTION OF 550,000 BARRELS, AND 2) MANAGEMENT OF SUCH PRODUCTION BY SOMO OR KOMO OR ANOTHER ENTITY. - chattels
    Last edited by chattels; 03-19-2015 at 12:24 PM.

  4. #4

    Re: The Dinar Daily, Thursday March 19, 2015

    Government decides to provide liquidity to domestic banks and private sector support



    Discussed by the Committee on Economic Affairs, headed by Deputy Prime Minister Ruz Nuri Shaways, on Thursday, the eligibility of private banks to support and market-oriented economy and contribute to the process of increasing the proportion of total gross domestic product through the support of the private sector.

    According to a statement of the Commission received (news) copy of it today, that 'the Committee discussed at its eighth eligibility private banks support because of their role in the reconstruction and development of the country and in order to give these banks a wider area in the economic transition and orientation process toward a market economy and contribute to the process of increasing GDP ratio by supporting private sector activity. '

    The Committee appreciated, according to the statement, the role of the Central Bank of Iraq and the Iraqi Trade Bank in support of those banks and the fact that economic conditions experienced by the country currently requires providing more support to those banks'.

    The Commission has taken a number of decisions which '(the Central Bank of Iraq and the Iraqi Trade Bank to provide liquidity eligibility for banks discreet that suffer from a lack of liquidity as a result of the faltering customers to pay their dues to those banks in return for those banks to provide guarantees and bank bailouts acceptable to both sides). "

    The Committee also discussed the subject of banking policy pursued by the Trade Bank of Iraq, particularly the issue of lending to the Kurdistan Regional Government and the Central Bank of Iraq in the region as the Commission found as banking operations of a financial professional and there is no loan granted from the Trade Bank of Iraq to the two mentioned.

    The Committee emphasized, according to the statement, that 'the bank in light of the large financial potential, it continues to finance its activities all to regaining its high confidence being the main financier of trade government sector', pointing out that it is imperative that the State and the Council of Representatives of Iraq to take responsibility not to allow the promotion of rumors affecting the reputation and financial standing among global banks. '

    The Committee stressed the need for the 'TBI accounts and financial statements audited sent to the relevant authorities in accordance with the principles of disclosure and transparency'.

    The Committee consists of the Deputy Prime Minister Nuri Shaways example, has typically president and membership of a number of ministers and directors of the Central Bank of Iraq and the Trade Bank and advisers in the prime minister in addition to the Committees Alaguetsa and financial Alniabaten.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3632997&usg=ALkJrhihzuWpz1_TUaFTKPh9u1wIYqH1GQ
    Last edited by pinkadonai1; 03-19-2015 at 11:40 AM.

  5. #5

    Opinion piece

    OPINION PIECE!

    sczin11- WHAT IS/HAS GONE ON IN IRAQ ...

    2015- THE BUDGET WAS PASSED IN RECORD TIME, INCLUDING MANY NEW PRO-ECONOMIC AND MONETARY REFORM ADVANCEMENTS..

    2014- THE ELECTIONS...WOULD MALIKI FINALLY BE DETHRONED?

    2013- THE RELEASE FROM CHAPTER 7

    2012- DR. SHABIBI BEING DISMISSED FROM THE GOVERNORSHIP OF THE CBI, WHILE ATTEMPTING TO RAISE THE VALUE OF THE IRAQI DINAR


    WHAT IS NEXT??

    Every day that arrives, hopes and dreams are swallowed by more/new postulations of why THE IRAQI MONETARY REFORM HAS NOT BEEN COMPLETED...

    HISTORY, AS OUTLINED ABOVE, SEEMINGLY PROVES, NO ONE EVENT TARGETED BY US, WAS TAILORED TO COMPLETE THE REFORM...ALL SEEK OUT THE "TRIGGER", BUT, AT THIS TIME, REALITY AND COMMON SENSE, SHOULD PREVAIL, AND KEEP US ON AN EVEN KEAL...
    BUT, IT DOESN'T...WE HAVE SPENT SO MUCH TIME AND ENERGY, WE HAVE COME TO RELY ON THE UNKNOWN, WE HAVE PLACED OUR LIVES AND FAMILY ON HOLD...
    SOME OF US HAVE WAITED AS LONG AS THE GREAT CITIZENS OF IRAQ, SO THEY CAN TRULY UNDERSTAND THE FRUSTRATIONS AND SUFFERING..
    LAST YEAR WAS POLITICS, THIS YEAR IS WAR, NEXT YEAR WILL BE SOMETHING ELSE-THESE ARE NOT EXCUSES...THESE ARE NOT DELAYS...THESE ARE NOT A PRE-MEDITATED COUP AGAINST THEIR PEOPLE, OR US FOR THAT MATTER...THESE ARE ALL NATURAL HAPPENINGS, THEY EVOLVE IN LIFE!

    THE CABINET MEETS WHEN CALLED ON BY THE COMMANDER IN CHIEF...DOES THAT MEAN THE LEADER OF THE FREE WORLD, DOES NOT GET BRIEFED MUCH MORE REGULARLY, FROM ALL ARMS OF LEADERSHIP, IN HIS GOVERNMENT?
    THE ANSWER IS A BIG FAT NO!
    IRAQ CLEARLY HAS MADE SIGNIFICANT CHANGES, ADVANCEMENTS, AND STRIDES TOWARDS WEALTH AND PROSPERITY...THEY HAVE STATED AND SHOWN, THE PROGRESS TOWARDS A TOTAL, SOVEREIGN AND DEMOCRATIC NATION..THEY HAVE RACED AROUND THEIR REGION, AND FURTHER, TO MAKE AMENDS WITH THEIR NEIGHBORS...THEY HAVE SHOWN SIGNIFICANT PROGRESS AND GRANTED GOOD WILL WHERE APPROPRIATE...
    THE WORLD RECOGNIZES THIR SINCERITY, HENCE THE COALITION TO FIGHT TERRORISM...HENCE THE LOANS FROM ALL INTERNATIONAL AGENCIES..HENCE THE CREDIT BEING AFFORDED THEM BY GLOBAL COUNTRIES...HENCE THE CONTINUED ATTEMPTS FROM WITHIN, FOR PEACE BETWEEN THE KURDS AND BAGHDAD...

    FOLKS, WITH ALL THAT IS HAPPENING, WITH ALL THAT HAS HAPPENED, AND FROM WHAT WE SEE, IS ON THE AGENDA TO HAPPEN, IT IS NOT REASONABLE TO THINK THEY WOULD DO ALL THIS, AND END THE PLAN WITH A CURRENCY THAT IS WORTHLESS...


    Last edited by sczin11; 03-19-2015 at 06:28 PM.

  6. #6

    Re: The Dinar Daily, Thursday March 19, 2015

    MoD: ISF ready to liberate Nineveh*


    Baghdad (AIN)-The MoD, Khalid Al-Obaidi, announced that the military commands, formations and the extended sections are ready to liberate Nineveh province from the control of the terrorists of the ISIL.

    Obaidi in a statement, received by AIN cited that ''The preparations and coordination are continuous with all groups involved in the process of liberating the areas that has been controlled by the ISIL terrorists," referring that ''the readiness of the military commands, formations and the extended sections to liberate Nineveh province from the control of the terrorists of the ISIL".

    http://www.alliraqnews.com/en/index.php/security-news/65851-mod-isf-are-ready-to-liberate-nineveh-.html

    *
    COMMENT : MOSUL IS THE CAPITAL OF NINEVEH GOVERNATE / PROVINCE - chattels

  7. #7

    Re: The Dinar Daily, Thursday March 19, 2015

    Rubayi criticizes defaming Public Mobilization Volunteer
    Baghdad (AIN) –MP, Muwaffaq al-Rubayi * , said that certain regional sides attempt to defame Iraqis heroes who fight the Islamic State of Iraq and Levant terrorists.

    Speaking to All Iraq News Agency, he criticized Human Rights Watch for its reports based on bias and exaggerated incidents.

    "These sides must avoid selective and inaccurate reports that accuse the Iraqi Security Forces and the volunteers who fight ISIL with violations and to diverse its sources over information regarding the situation in Iraq," he concluded.

    * MP, Muwafaq al-Rubaie, of the Iraqi National Alliance

    https://www.facebook.com/permalink.php?id=211673078863902&story_fbid=895851863779350

  8. #8

    Re: The Dinar Daily, Thursday March 19, 2015



    sczin11-AND THE CONTRADICTIONS AND CONFLICTING REPORTS CONTINUE....

    Saudi Arabia will not open its embassy in Iraq


    03/19/2015 14:11:00
    Print out


    Image of the Embassy of Saudi Arabia
    Rejected the State of Law coalition, told the former head of Saudi intelligence Turki al-Faisal, that Iraq does not ask Saudi Arabia to help in the war on Daash, for fear of resentment Iran.


    The leader of the coalition of state Attorney WIN within the National Alliance of law, Mohammed Chihod in an interview for PUKmedia, today Thursday, 19/03/2015, that "Iraq tried to open a new page with Saudi Arabia and build good relations during a visit by Iraqi officials at the highest levels, but the government Saudi Arabia to date has done nothing to the development of relations, a Saudi official has not visited Iraq, and promised the opening of the Saudi embassy in Iraq, was not it, expressing his belief that Saudi Arabia will not open its embassy in Iraq. "


    He accused Chihod, Saudi Arabia to adopt a hostile project for Iraq and the region and supporting extremist currents, expressing his belief that "the Saudi government is directly supervises the organization Daash, especially since Daash and criminal gangs is no different than the two she Western industry aimed at the area and confiscated their wealth and threaten its unity, and Saudi Arabia, part of the This project is to provide financial support, and issuing fatwas incitements, and as long as they adopters of this project, it is clear attitudes hostile to Iraq and the political process in Iraq. "


    The former Saudi intelligence chief Prince Turki al-Faisal, said in a statement to the London press the Middle East, Saudi Arabia is ready to support Iraq; but the Iraqi government did not request the support of Saudi Arabia, "It may be fear of dissatisfaction with Iran."


    The President of the Republic, Dr. Fuad Masum made last November visit to the Kingdom, and the first by a senior Iraqi official since long years.


    And relationships that were cut in 1990, were restored in 2004 after the liberation of the war in Iraq, but Saudi Arabia has not opened its embassy in Baghdad again.


    Super Yazidi PUKmedia


    http://translate.googleusercontent.c...uvI8jLX8FVDzKA

  9. #9

    Re: The Dinar Daily, Thursday March 19, 2015

    Erbil welcomes Newroz, despite ISIS threat



    ERBIL, Kurdistan Region - Although the Kurdistan region is on high alert, with battles raging against ISIS just kilometers from the capital, many locals feel secure enough behind the frontlines to speculate on the future.

    A trip to the iconic Qaysari Bazaar last week showed Kurdish national sentiment running high, with posters of Peshmerga plastered all over the market hailing the fighters as the “Lions of Kurdistan.”

    “We feel safe. We don’t have any concern regarding security issues. We have our Peshmergas on the frontline against IS, and they will not be able to enter Erbil,” said 35-year-old Mohamed Ali.

    The sense of stability is so strong, some Erbil residents like Ali found time to focus on more mundane complaints, namely the crippling impact of low oil prices and an ongoing entho-sectarian shift in the area

    Ali has four children and rents a small modest house. He is frustrated with the Iraqi government for freezing the Kurdistan region’s share of the annual budget, which has delayed civil servant salaries. Ali has not been paid for the past three months, forcing him drive a taxi driver to cover expenses.

    “There will be inevitable changes in the dynamics of war,” said Azad Kak Rash, adding the Kurds should be prepared for unforeseen changes on the battlefield.

    With Newruz just around the corner, Kak Rash, 26, said appreciate the sacrifices of Peshmerga forces.

    “People have a heavy heart because of those killed on the battlefield. Newruz is not how it used to be,” he said.

    At Machko’s Tea-Shop, opposite the bazaar, former Peshmerga Rashid Sabir Shexa, 63, expressed concern over Iranian influence in Iraq, and alleged intentions to form a neighbouring “Shiite state.”

    “Iran wants to turn Iraq into a Shiite state,” said Shexa, who participated in the uprising against Saddam Hussein in the 1980s, as he sipped his tea in his blue Kurdish traditional garment.

    He continued: “Turkey faces many problems in terms of its influence in Iraq. The Iranian government has more influence primarily because of its Shiite affiliation, something that Turkey lacks.”

    Shexa believes Kurdish leaders should keep a balance between the various coalition forces aiding Peshmerga forces in the fight against ISIS through military equipment and air power.

    “There seems to be a competition amongst allied forces. Nonetheless, I think Kurds should be united to fight IS, and should not take sides, but keep a balance,” Shexa said.

    Despite the decline in business and lack of jobs patriotism and pride were still on display as Newroz approaches on Saturday.

    Just ask Luqman Rasul, 45, who sells Kurdish flags, nationalist CDs, key-rings and pins.

    “Kurdistan is secure. Nothing can threaten Erbil,” he said.

    http://rudaw.net/english/kurdistan/19032015
    Last edited by pinkadonai1; 03-19-2015 at 02:23 PM.

  10. #10

    Re: The Dinar Daily, Thursday March 19, 2015

    Anbar tribes form first Sunni militia to fight ISIS



    ERBIL, Kurdistan Region
    - Sunni tribes in Iraq’s embattled Anbar province have formed their first paramilitary force, a militia of mostly volunteer fighters whose aim is to drive out the Islamic State (ISIS) from their areas.

    The volunteer army has been formed without direct support from Iraq’s predominantly Shiite government, which the tribes accuse of sidelining Sunni calls for armament.

    “These are local tribal forces formed to clear the area of ISIS militants,” said a spokesman for the militia.

    ”We ask the government to support these forces, financially in particular. We have been volunteers for the past six months and many more are on their way to join us,” he added.

    The group, which had been operating away from the public eye in the fighting in Anbar that has raged since much of last year, appeared on television for the first time in a Rudaw report.

    “This is a special group supported by the tribes,” said an official coordinating the militia. ”We have had casualties from the battles against ISIS. The Iraqi government has not supported us in any way in the fight so far. Former Iraqi Army officers have been instructing the group,” he explained.

    The Sunni force is similar to the Shiite Hashd al-Shaabi militia and is being trained at a military camp, where fighters say they are ready to defend their areas against ISIS or any other attacker.

    “We ask the government to support the group, which is mainly made of volunteers,” an official from the militia said, as he called on more volunteers to join.

    "The training sessions are focused on how to use heavy machine guns and even how to defuse explosives. We are ready to defend our lands to the very last man,” he vowed.

    Anbar has been a war zone since much of last year as ISIS intensified efforts to capture the remaining areas in what is Iraq’s largest province.

    http://rudaw.net/english/middleeast/iraq/190320152
    Last edited by pinkadonai1; 03-19-2015 at 02:24 PM.

Posting Permissions

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