The Dinar Daily, Sunday March 22, 2015
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  1. #1

    The Dinar Daily, Sunday March 22, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

    Estimate the shadow price of foreign currency:

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

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

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


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


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

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

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

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

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


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


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

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



    The Republic of Iraq – Ministry of Planning

    and

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

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

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


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


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


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


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


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


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

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


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

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


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


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

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

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





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

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

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

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

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

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

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

    __________________________________________________ ______________

    AND

    Coins put on the market !!



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

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

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

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

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

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

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

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

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

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

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

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

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

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

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

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



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

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

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

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

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

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

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

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

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


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

    Hi BGG,

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

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

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

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

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

    Kind Regards,
    Kevin



  2. #2

    Re: The Dinar Daily, Sunday March 22, 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 - 22.03.2015


    http://www.cbi.iq/

  3. #3

    Re: The Dinar Daily, Sunday March 22, 2015

    High southern Iraq's exports and a study of an international bond to fill the budget deficit of the most prominent economic headlines for Sunday newspapers



    {Baghdad: Euphrates News} newspapers picked up on Sunday, a number of titles, including the economic, the study of international bond issue to meet the budget deficit and the praise of the International Monetary Fund Iraq strides in the advancement of the Iraqi economy and the rise in southern Iraq's exports and other titles ..

    Morning
    IMF praises steps Iraq Food Security on the table

    Constitution - Zebari: the study of international bond issuance to meet the budget deficit
    Parliamentary Economy:'re going to encourage private investment
    South Iraq's exports rise in March

    Justice - Member of the parliamentary energy: Oil Ministry in collaboration with the British Shell began operations in Basra gas treatment in the province fields
    Sudanese reveals exceeded {8851} and retired employees a benefit of social protection
    CONTACTS Babylon: Big appetite for wireless service in the province

    New Morning - Rising oil exports from southern ports
    Securities: 19 billion dinars worth of trading in a week

    Term - Iraq is seeking to separate the production of Basra crude to heavy and medium {}
    Jones: US firms wary of entering the Iraqi market due to security
    North Bank: liquidity crisis "public" and caused Daash budget ended ....


    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%3D3642044&usg=ALkJrhgO51ZakOkP9t1zRnZwUH5MwN6Xdg
    Last edited by pinkadonai1; 03-22-2015 at 11:37 AM.

  4. #4

    Re: The Dinar Daily, Sunday March 22, 2015

    sczin11= WHO KNOWS, MAYBE NEXT ADJOURNMENT WILL BE AFTER RAMADAN!

    Urgent ..cil of Representatives to postpone its next Saturday



    {Baghdad: Euphrates News} House of Representatives, announced on Sunday, for the delay to its regular Saturday at the request of the Kurdistan Alliance.

    The Second Deputy Speaker of the House of Aram Sheikh told {Euphrates News} today that "the Presidency of the Parliament throughout the regular session, which is supposed decided to be held next Tuesday to 28 of this month, which falls on Saturday at the request of the Kurdish blocs which celebrates the festivals of Nowruz."

    He added that "at the request of the Kurdish blocs been postponed as the regular session this week is exclusively for Nowruz holidays."

    It was hoped that the House of Representatives held its regular until next Tuesday to approve the projects and Manmh.anthy



    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%3D3642230&usg=ALkJrhiHuQYmyJ92Yb748QbAyS8F_tsqQA



    AND


    House of Representatives allocated on Tuesday, Wednesday and Thursday next to the work of parliamentary committees
    Khandan - the Iraqi parliament decided to allocate on Tuesday, Wednesday and Thursday next to the work of parliamentary committees, in response to the request of the Kurds of Representatives.

    She said the information department of the House of Representatives in a statement, House Speaker Salim al-Jubouri, the face on Sunday allocated on Tuesday, Wednesday and next Thursday for the work of parliamentary committees, to be the resumption of the House of Representatives hearings starting next Saturday 28/03/2015 and until Thursday 2 / 4/2015 instead of on Tuesday, 03.24.2015.

    He said the information department of the House of Representatives a statement that the decision came in response to the request of the Kurdistan Alliance MPs.


    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%3D3642348&usg=ALkJrhh2XuLR1gv8BvN3qpSpJ9sgKBU1Xg



    and

    Tuesday parliament session postponed till next Saturday

    Sunday, 22 March 2015 12:07

    Baghdad (AIN) –The parliament session that is supposed to be held on Tuesday is postponed till next Saturday.

    MP, Mohammed Kawa of the Kurdistani Alliance stated to AIN "The reason behind postponing holding the session is due to the engagement of the Kurdish MPs in the celebrations of Nowrouz Eid."

    http://www.alliraqnews.com/en/index....saturday-.html

    and

    Wednesday and Thursday next to the work of parliamentary committees

    http://xendan.org/arabic/imgnews2/ir...3.7.014.bb.jpg

    Khandan - the Iraqi parliament decided to allocate on Tuesday, Wednesday and Thursday next to the work of parliamentary committees, in response to the request of the Kurds of Representatives. She said the information department of the House of Representatives in a statement, House Speaker Salim al-Jubouri, the face on Sunday allocated on Tuesday, Wednesday and next Thursday to the work of parliamentary committees, to be the resumption of the House of Representatives hearings starting next Saturday 28/03/2015 and until Thursday 2 / 4/2015 instead of on Tuesday, 03.24.2015. He said the information department of the House of Representatives a statement that the decision came in response to the request of the Kurdistan Alliance MPs.

    http://translate.googleusercontent.c...5V5QBOzjclA6-g
    Last edited by chattels; 03-23-2015 at 02:39 AM.

  5. #5

    Re: The Dinar Daily, Sunday March 22, 2015

    sczin11- TALK ABOUT CONTRADICTIONS...WOW!...THIS RELEASE CLAIMS, MONEY FROM BAGHDAD WILL ARRIVE TOMORROW, MONDAY...WE HAVE SEEN MANY REPORTS, STATING IT WAS "SENT" AS EARLY AS THIS PAST THURSDAY...SEVERAL WEEKS AGO WE SAW MONEY WAS FLOWN IN BY AIRPLANE, NOW IT APPEARS IT WAS SENT BY PONY EXPRESS! WE ALSO SAW THAT 490 BILLION DINAR WAS SENT, OR $420 MILLION US DOLLARS...THIS IS STATING MUCH LESS, THE ORIGINAL AMOUNT THAT WAS MENTIONED...HMMMMMM...WHAT TO BELIEVE?

    The Ministry of Finance in the Kurdistan Regional Government distributed salaries Tuesday



    Roudao - Erbil - Salaries will be distributed on Tuesday- The Ministry of Finance announced that the economy in the Kurdistan Regional Government, it has completed all preparations for the arrival of the amount of money that Baghdad has decided to send it to Arbil on Monday, to be the distribution of salaries next Tuesday.

    He said the ministry's spokesman, Ahmed Abdel Rahman, the network Roudao media that "Preparations have been completed for the arrival of the amount of money to the Kurdistan Region tomorrow, and will be on Tuesday (24/03/2015) to start the distribution of salaries to the Security Council, and the Directorate General Asaish, and the leadership of the Peshmerga Zervani forces.

    With regard to the ministries and other institutions, Abdul Rahman pointed out that "we must know the amount of the amount scheduled arrival tomorrow, to be announced at a later ministries that will be the distribution of salaries to its employees."

    The Iraqi government, sent in (26/2/205) a sum of money of 250 billion dinars to the central bank in the Kurdistan Region.


    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%3D3642336&usg=ALkJrhj1oFIMHvIOJ-hhCZE7ZIHnCfOVPA


    Last edited by pinkadonai1; 03-22-2015 at 11:43 AM.

  6. #6

    Re: The Dinar Daily, Sunday March 22, 2015

    National Alliance denies receiving presidency of ten independent bodies



    Denied the National Alliance on Saturday, he's got the presidency of ten independent bodies, while noting that negotiations are still ongoing on those bodies.
    A member of Alliance MP Nahla Alhbabi told / information /, that "Matnaqlth some of the media that the National Alliance won the presidency of ten independent bodies baseless," asserting that "the negotiations between the political blocs are still ongoing and will not be resolved until now."
    "The National Alliance and the Union of Forces for not wish participation of the National Alliance, headed by those bodies, but it imposed on them in the past, to the fact that those bodies do not have any guardianship over the territory to the presence of bodies similar in the region," asking assign presidency bodies of the share of the Kurdistan Alliance to Christians and Turkmen. "
    The media sources have reported earlier that the alliance has received the presidency of the ten bodies and the Union of Forces for the presidency six bodies and the Kurdistan Alliance for the presidency four bodies.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.almaalomah.com/news/14733/%25D8%25A7%25D9%2584%25D8%25AA%25D8%25AD%25D8%25A7 %25D9%2584%25D9%2581-%25D8%25A7%25D9%2584%25D9%2588%25D8%25B7%25D9%2586 %25D9%258A-%25D9%258A%25D9%2586%25D9%2581%25D9%258A-%25D8%25AD%25D8%25B5%25D9%2588%25D9%2584%25D9%2587-%25D8%25B9%25D9%2584%25D9%2589-%25D8%25B1%25D8%25A6%25D8%25A7%25D8%25B3%25D8%25A9-&usg=ALkJrhgsMcssj25UDUpFcjcQB8oq27OrHQ

    and

    "Tomorrow Press" reveal the distribution of independent bodies on the blocks Details

    House of Representatives

    http://alghadpress.com/MediaStorage/...ages/16551.jpg

    03/21/2015 12:51

    Tomorrow Press / Baghdad: The Deputy for the Kurdistan Alliance distribution of independent bodies on the political blocs in accordance with the "quotas" that followed the blocks in the distribution of Almanab, while Deputy for the National Alliance confirmed the existence of "difficulties" within the alliance is the "intransigence" personalities of the party details call to leave the positions they manage proxy, amounting to about 16 body.

    The MP said the bloc citizen Salim Shawki's "Tomorrow's Press," that "the issue of independent bodies has not been resolved yet because of political differences on the distribution of the subject," noting that "according to the distribution of the share of the National Alliance will be 15 body and each of the Union of Forces and the Kurdistan Alliance 11 body ".

    He added that "there are figures from the Dawa Party, occupy about 16 body acting so far from the time of the previous government," adding that "there are difficulties within the National Alliance with the Dawa Party on this issue."
    Shawki explained that "the bodies run by people from the Dawa Party, either by proxy or nepotism arrived at it, what the cause of difficulty within the National Alliance", confirming the presence of the "Committee of eight problem inside imposed by the National Alliance, said the pressure on the Dawa Party in order to comply with the subject of political balance in positions ".

    He also called for the citizen, the National Alliance to "take a position on the intransigence of the Dawa Party, and their adherence to these positions," asserting that "the distribution of independent bodies are supposed to be in accordance with the electoral benefit for each block, according to the integrity, efficiency and acceptability of the candidates."
    He stressed Shawki, a member of the Legal Committee on the importance of "balance in the distribution of independent bodies between the political blocs on the candidates who are competent to come away from favoritism."

    For his part, MP for the Kurdistan Alliance Masood Haider for "tomorrow Press", that "there is an agreement was reached, provided that gets the National Alliance on 11 body, the Hajj and Umrah, the central bank, and the Martyrs Foundation, the Foundation for political prisoners, and the National Investment, and BSA, and the House of Wisdom, and the provinces not yet been formed and will be in the future, and the Municipality of Baghdad, and the Council of reconstruction, which will also in the future. "

    "The coalition forces got the accountability and justice, and the Integrity Commission, and the media, and the verification of federal revenues and that will also in the future, and the control of radioactive sources will be in the future, and received an alliance forces finally to the Securities Commission."

    He said Haider "The Kurdistan Alliance has received a five bodies are the Electoral Commission, and the Telecommunications Authority, the Council of the Federal service, and the balance within the state institutions will be in the future, and Commission on Human Rights."

    He said Kurdish lawmaker that "a final agreement obtained this distribution will be working with."
    The MP for the coalition of state law full-Zaidi, may count the continuation of the political blocs to distribute independent bodies under the quota system as a "weakening" of the prestige of the state and its institutions, demanding the removal of bodies blocks from quotas and division.

    Constitution explains in articles 102-108 own independent bodies, that each one of them a reference, Fd High Commissioner for Human Rights and the Office of the Independent Electoral and the board of Integrity, an independent subject in its controlled legislature (House of Representatives), and the organization of work by law.

    Both the CBI and the BSA also promised the board of Information, Communications and the Endowment of independent bodies financially and administratively, also stressed the constitution within the text of paragraph II of Article 103 that the central bank is (accountable to the House of Representatives), and is associated with the BSA and the board of Media and Communications House of Representatives.

    While the third paragraph of the same article stipulates that the Endowment linked to the Council of Ministers, is also linked to the Martyrs Foundation like the Council of Ministers as well.

    http://translate.googleusercontent.com/translate_c?depth=2&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://alghadpress.com/ar/news/28577/%25D8%25A7%25D9%2584%25D8%25BA%25D8%25AF-%25D8%25A8%25D8%25B1%25D8%25B3-%25D8%25AA%25D9%2583%25D8%25B4%25D9%2581-%25D8%25AA%25D9%2581%25D8%25A7%25D8%25B5%25D9%258A %25D9%2584-%25D8%25AA%25D9%2588%25D8%25B2%25D9%258A%25D8%25B9-%25D8%25A7%25D9%2584%25D9%2587%25D9%258A%25D8%25A6 %25D8%25A7%25D8%25AA-&usg=ALkJrhiQkPLK9Jcr0yS2UnVloF-pR0ocdQ


    and

    Kurdish lawmaker: independent bodies to "name only"

    http://8th-day.com/wp-content/uploads/2014/10/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A.jpg



    Confirmed the Kurdistan Alliance bloc, it will almost certainly according to the distribution of the bodies, the share component of the Kurdish authorities are 5 of them and the Electoral Commission and the Telecommunications Human Rights Commission did not resolve after two bodies remaining order. He said coalition member Xuan Davoudi, in a statement ((eighth day)) that "What a pity that these independent bodies in name only, while the blocks are private parties and components. Daoudi said, "Some bodies have lost their independence because they relate to the Cabinet while it is according to the constitution must be linked to the House of Representatives, while the rest of the bodies are subject to the forces of the parties, which means we do not have independent bodies real sense of independence. (AA) SOURCE

    http://8th-day.com/?p=100486


    and

    Deputy for the National Independent bodies will be distributed on a partisan basis and will lose its independence


    b_280_189_16777215_0 ___ images_idoblog_upload_89_hisham_abdul_malik_al_suh ail_al_timimi_20072014.jpg

    Likely vice presidencies on the distribution of independent bodies on the basis of partisan and Ketloah National Alliance. " Hisham al-Suhail told all of Iraq [where] "It's very difficult, unfortunately, to separate between the political parties and blocs and positions of independent bodies" likely that "the process of distribution of bodies subject on the basis of partisan and Ketloah. He called al-Suhail, "that will administer these independent bodies with efficiency, competence and be independent of the parties, but there will be no independent bodies."

    Strongly denied "the distribution of any body, even for the post of one of them, and negotiations are still under way in this regard and said in the media that the National Alliance 10 bodies only is the word is not accurate because the elections for the Alliance of the 17 body beyond."

    And between Suhail said, "Alastqalah means that not be President of the Commission belong to any party and be done independently, and if it was linked to a mass or a political party can not be done independently, because he certainly will be affected by these blocs and therefore these bodies will lose its independence."

    The MP for the National Alliance honest we hinted a member of the Committee on balance confirmed closely to resolve naming positions independent bodies and told [where] last Thursday that "the distribution of bodies will be based on the representation of each component of the Iraqi people," denying "news about the distribution of the names of bodies on this components. "

    The official spokesman of the parliamentary bloc of change [Kurdish] MP Masood Haider said in a press statement last Wednesday, "The meeting of the Federal Cabinet last week, saw agreement on the distribution of the presidencies of independent bodies."

    He said the "Shiite component won the presidency of the 10 independent bodies which Hajj and Umrah, the central bank, the Martyrs Foundation, political prisoners Foundation, the National Investment Commission, Office of Financial Supervision, the House of Wisdom [cultural institution, body regions [body not yet been formed, the Municipality Baghdad, the Council of reconstruction [Council plans for strategic projects in Iraq has not yet forming. "

    Haider said that "component of the Sunni won the presidency of the six bodies, a body Integrity, Accountability and Justice Commission, Media Commission, body check the allocation of federal revenue [body not yet been formed, body control of radioactive sources, Securities".

    He continued, "The Kurdish component was the stake presidency five bodies, the Independent Electoral Commission, the Telecommunications Authority, the Federal service, body balance [body not yet been formed, the UN High Commissioner for Human Rights".

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.alliraqnews.com/2011-04-18-02-57-37/172744-2015-03-21-09-41-54.html&usg=ALkJrhgNMli1oky7xBZ1d6mxOAu8z6qh2g

    and

    Araji calls blocs to agree on independent bodies


    Nassif exclude nomination efficient figures and al-Khafaji, demanding a share for women Denied, Deputy Prime Minister Bahaa al-Araji yesterday rumors about the complete distribution cabinet independent bodies on the political blocs, as Deputy High Nassif ruled out the success of the political blocs to nominate competent and professional to head the independent bodies figures. She said that (is impossible), also called the National Alliance MP for Laila al-Khafaji, to speed up the resolution of the independent bodies and give women the maturity of these positions.

    A statement from al-Araji, saying that (some media circulated reports the completion of the Committee on the balance in the Cabinet procedures and end of the distribution of independent bodies on the political blocs, and be a part of this committee, we deny such news and affirm to be incorrect), explaining that (the Commission is working on finding mechanisms for referral of these bodies on the one hand and the conditions that must be available in the candidates have on the other hand, and in a form that fits with the mechanisms and conditions approved by the cabinet in this regard).

    He said (on the political blocs agreed among themselves according to the electoral merits, taking into account minorities and competencies of the independent Committee turn to play in the selection of candidates to these bodies and who should enjoy efficient, experienced and professional, as well as the need to have a service in state institutions).

    For its part, high Nassif MP ruled out the success of the political blocs to nominate competent and professional to head the independent bodies figures. Nassif said in a televised interview (it was impossible to run any political bloc efficient and professional to head the independent bodies) figures, adding that the (personal efficient not satisfied themselves to be a tool of political forces), asserting that (subdivisions that leaked some of the political blocs on the presidency is bodies minutes). In turn, the MP called for the National Alliance Layla al-Khafaji, to speed up the resolution of the independent bodies and give women the maturity of these positions. Said al-Khafaji said in a statement (women today are worthy to occupy important positions in the new Iraqi government and succeeded in the management of state institutions deservedly), calling for (to speed up the resolution of the independent bodies and the abolition of positions that are managed by proxy, such as political prisoners Foundation), adding that (keep managed by proxy institutions will delay the progress of the country forward and the advancement of the reality service to citizens).

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://www.azzaman.com/%3Fp%3D106388&usg=ALkJrhiQpDpNz_oXo6QSsccfyyiheZsBcw
    Last edited by chattels; 03-23-2015 at 02:27 AM.

  7. #7

    Re: The Dinar Daily, Sunday March 22, 2015

    Market Summary


    Main Index
    901.78

    Change
    26.57

    Change %
    2.86%

    Value Traded
    2,286,402,624

    Shares Traded
    2,704,377,163

    Trades
    755

    Symbols Traded
    47

    Symbols Up
    3

    Symbols Down
    31

    Flat
    13



    Iraq Index falling 2.9% by the end of Sunday trading


    March 22, 2015 14:35Last Updated: March 22, 2015 14:35
    Part

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    Image from Reuters - Arabian Eye


    Direct: Iraq Index fell by the end of the end of the trading session on Sunday, to close at 901.78 points, losing 26.57 points, representing 2.86%.
    The volume of trading today, about 2.7 billion shares worth about 2.3 billion dinars from 755 through the implementation of a deal on the number of 47 shares rise 3 shares fell 31, settled for 13 shares.
    Issued "Dar es Salaam Insurance" share gainers, up 1.10 points points, while the issue of shares Babylon Hotel losers, down two points.
    The "Gulf Bank" shares on top of the most heavily traded stock in terms of volume and value of the number of 1.5 billion shares worth roughly estimated at 1.25 billion dinars.
    The Iraq Index ended trading last week , down to the level of 928.35 points.


    http://translate.googleusercontent.c...zEi1xly-sQt4hQ




    Last edited by sczin11; 03-22-2015 at 02:02 PM.

  8. #8

    Re: The Dinar Daily, Sunday March 22, 2015

    US ambassador to Iraq, Stuart Jones



    Jones: US firms wary of entering the Iraqi market due to security

    Expressed the US ambassador to Iraq, Stuart Jones, on Saturday, the concern of the country's companies to enter the domestic market and the implementation of investment projects, and attributed the cause to "the security situation and the nature of the business environment in Iraq," The excluded the oil companies of those concerns, pointed out that the bank branch "Citigroup" in Baghdad continues to work and is a "profitable investment."

    Said Stuart Jones in an interview to the (long-Presse), said that "a lot of American companies want to enter the Iraqi market despite the frequency each of concern about the security situation and investment environment with the exception of the oil companies," noting that "American companies need to clean work environment."

    Jones added, "The American City Bank, which has branches in the capital Baghdad Bank continues to work about an effective and active," returned to "section is a bargain investment for the bank Mother."

    And the intent of the other US banks work in Iraq in the future, Jones stressed that "it is related departments of those banks," pointing to "the lack of formal or fixed timings on it yet."

    The US ambassador in Baghdad, Stuart Jones, announced in (the tenth of March 2015), the arrival of the volume of trade exchange between Iraq and the United States to more than $ 16 billion, while stressing that more than seven billion of them Iraqi exports, between Washington looks to expand its relations "strategy" with Baghdad.

    It is noteworthy that the Iraqi Ministry of Trade, revealed in (the thirtieth of December 2014 the past), the arrival of the volume of trade exchange between Baghdad and Washington to $ 15 billion and $ 300 million during that year.

    The Citigroup bank (Citigroup) US, announced, (24th of June 2013), the opening of an office in Baghdad, becoming the first US bank expands its services to include Iraq, betting on his move this on the long-term economic opportunities in the oil-rich country.

    It is noteworthy that many economists have repeatedly called for the need to develop the reality of the Iraqi banking and investment environment and the reduction of "rampant corruption" in the country, to encourage local and foreign businessmen to implement more projects and the recovery of the national economy.

    https://translate.googleusercontent.com/translate_c?depth=2&hl=en&ie=UTF8&prev=_t&rurl=translate.google.com&sl=auto&tl=en&u=http://www.almadapress.com/ar/news/45789/%25D8%25AC%25D9%2588%25D9%2586%25D8%25B2-%25D8%25A7%25D9%2584%25D8%25B4%25D8%25B1%25D9%2583 %25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D8%25A3%25D9%2585%25D9%258A %25D8%25B1%25D9%2583%25D9%258A%25D8%25A9-%25D9%2582%25D9%2584%25D9%2582%25D8%25A9-%25D9%2585%25D9%2586-%25D8%25AF%25D8%25AE%25D9%2588%25D9%2584&usg=ALkJrhj3l-GD7ZsqFGXzk1Y_VzAN-GB9Cw

  9. #9

    Re: The Dinar Daily, Sunday March 22, 2015

    How long silence on the thefts Maliki and his fortune of $ 50

    BAGHDAD /
    News Network Iraq said interpreter worked with US forces in Iraq between 2003 and 2007, Nader Hussein and called, "the image of the former Iraqi prime minister, Nuri al-Maliki, who went to the Americans, much different from the image of the day that are cleanly notable for his clothes, he unchanged from a vendor and swam cocks change (rings) to the richest man in Iraq. " He adds Translator, "a long time was not on that tattered Saddam's days like that have changed in the blink of an eye, as al-Maliki, who controlled the reins of power in Iraq, to build the glory of the people's money and power, and controls the wealth of the rich country that is suffering its people out of poverty and unemployment crises living" . He said Hussein, saying, "Maliki could recruit dozens of thieves of public money, and involving them in all state departments, civil and military institutions, to govern his grip on the country's resources and wealth," noting that "the deployment of positions on his men, some of whom became minister, and some of them become manager years, and other Iraqi positions cake which began Bnhishha from each side, is insensitive to the consequences. "

    "The United States has not been oblivious to it, but they wanted a bunch of the country's new rulers to indulge in theft to the fullest extent, to hold them big corrupted files later became papers pressure on them, to pass the US agenda in Iraq, however you like." He continues Hussein "provided Maliki necessary for his protection, and some of them revealed his papers, as Minister of Commerce, former Abdul Falah al-Sudani, and Maliki could provide complete his protection, despite accusations of corruption dogged about the adventurous lives of the Iraqi people through the manipulation of vocabulary ration card, and replacement of materials, such as oil and sugar , corrupt materials are not suitable for human consumption. " He pointed out that "This transaction and other transactions passed off peacefully and complete protection by al-Maliki, has reaped through which billions of dollars. There are no specific statistics on the official al-Maliki's wealth, but that, according to Forbes magazine dealing with the affairs of the American celebrity, a fortune estimated at $ 50 billion in cash, in addition to other assets and property of the estimated half a billion dollars. "

    For his part, Deputy for the Parliamentary Integrity Committee stressed that "there is an Iraqi political figures have the money more than they came in the American Journal report, has got those funds through abuse of office, facilitated by al-Maliki." He MP, that "the committee and the Integrity Commission requires that all politicians, including al-Maliki, providing revealed their own account, but they do not reveal their real money and their assets outside of Iraq, and the body finding it difficult to make sure the sources of their money abroad, the fact that a lot of them call their money and their property names other. "

    The MP pointed out that "al-Maliki has squandered the 2014 budget, which is disbursed through advances, and did not recognize in the parliament, but it was not held accountable for them, and did not open any competent authority to investigate the subject, under the complete absence of regulatory agencies and state institutions entrusted with the protection of the people's money.

    So far, the amount of money obtained is not known personally, and all the available information confirms that his fortune of $ 3 billion, in addition to the money that disappeared from the country's budget in the period in which he was in power, ".oatsat circle of corruption that mauled body of Iraq during the reign Maliki, which lasted eight years, until the issue of corruption came out about the possibility of control, the state did not recover any amounts from the accused persons. In this context, says economic expert, Majid picture, it is not for the rampant corruption in the country, to enable the organization of the Islamic State "Daash" from entering Iraq. " He added the picture, that "since 2003 and until October of this year, Iraq entered the $ 640 billion of oil money only," adding that "there are other revenue entered Iraq through the rest of the oil-for-food, and what was obtained from the frozen funds and other ". Suri said that "all those numbers become a whole in the range of $ 750 billion, enough to develop the four countries of the size of Iraq, and make it in the ranks of the most advanced countries in the world." He stressed the economic expert that "money does not result in investments in the country, and there are no statistics for disbursement," noting that "corruption is a trillion Iraqi dinars (US $ billion) and distributed in the form of advances to the departments and administrative formations different in the government, has not been settled," he "There are amazing numbers with regard to the escape and money laundering, some of them up to $ 138 billion fled from Iraq to neighboring countries during the last ten years, and formed committees to follow them, but without results."

    He says a member of the Iraqi Bar Association, Salam Gomaa, the man steeped in corruption, expose him and his money, Fbzkh his wife and daughters and his son Pat is a clear and unjustified. I have eight years later came the richest man in Iraq, and there is a lawsuit filed against him on corruption charges, but the office is a disaster that protect him, and we are confident that he will enter the prison even after a while, the poor Fbton her prayers answered and bold. " The recent Transparency International report, which was released in December 2014, confirmed that Iraq among the four countries are the most corrupt in 2014. After 2003, has become a phenomenon of corruption in Iraq, one of the biggest challenges, which ran rampant in the civil and military institutions of all, according to officials and economic analysts.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=auto&tl=en&u=http://aliraqnews.com/%25D9%2585%25D8%25AA%25D8%25A7%25D8%25A8%25D8%25B9 %25D8%25A7%25D8%25AA-%25D8%25AE%25D8%25A7%25D8%25B5%25D8%25A9/%25D8%25A7%25D9%2584%25D9%2589-%25D9%2585%25D8%25AA%25D9%2589-%25D8%25A7%25D9%2584%25D8%25B3%25D9%2583%25D9%2588 %25D8%25AA-%25D8%25B9%25D9%2586-%25D8%25B3%25D8%25B1%25D9%2582%25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D9%2585%25D8%25A7%25D9%2584 %25D9%2583%25D9%258A-%25D9%2588%25D8%25AB%25D8%25B1%25D9%2588%25D8%25AA %25D9%2587/&usg=ALkJrhgwhfBSubasusjYi0sa1-QMq2CKWQ

  10. #10

    Re: The Dinar Daily, Sunday March 22, 2015

    Parliamentary Integrity reveal corrupt deals of the ministries since 2006 and confirms put forward soon to eliminate



    BAGHDAD - and babysit - The chairman of the Integrity Committee Talal Zobaie, the existence of corrupted files finance and interior ministries of industry and electricity and water resources and the Municipality of Baghdad will go to eliminate soon.

    Zobaie said in an interview televised followed the "public opinion", that "some of the ministries signed contracts to implement service projects since 2006 have not been implemented to this day do not know where I went the financial amounts," he said, adding that "the finance, interior, industry and electricity and the Municipality of Baghdad and water resources ministries will be subject to eliminate to know the fate of these projects and deals corruption. "

    He stressed that "the Integrity Committee will not bow to any pressure of any size will not be subject to any compromise and everyone will be held accountable to their negligence."

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://alrayy.com/136900.htm&usg=ALkJrhjqyBR_1Y1ke_ZXASnimOtUQZ1cDg

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