The Dinar Daily, Tuesday March 31, 2015
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  1. #1

    The Dinar Daily, Tuesday March 31, 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
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  2. #2

    Re: The Dinar Daily, Tuesday March 31, 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 1279.452 1278.812
    British pound GBP 1740.721 1739.851
    Canadian dollar CAD 934.969 934.502
    Swiss franc CHF 1222.222 1221.611
    Swedish krona SEK 138.155 138.086
    Norwegian krone NOK 148.764 148.690
    Danish krone DKK 171.329 171.244
    Japanese yen JPY 9.774 9.769
    Special
    Drawing Rights
    SDR 1623.888 1623.076

    Indicative rates - 29.03.2015


    http://www.cbi.iq/

  3. #3

    Re: The Dinar Daily, Tuesday March 31, 2015

    Iraqi forces struggle to take back Tikrit



    By Associated Press - TIKRIT - The Iraqi offensive aimed at driving the Islamic State group out of the northern city of Tikrit has been slowed by booby traps, snipers and suicide bombers, but received a powerful boost last week when a US-led coalition began launching airstrikes in support of the operation.

    Until now Iraq's beleaguered military -- which crumbled in the face of the ISIS group's lightning advance last summer -- has relied on Iranian-backed Shiite militias. Several militias announced they would sit out the Tikrit battle once the US strikes began, but fighters wearing mismatched uniforms and waving the groups' flags can still be seen on the front lines.

    Iraqi security forces advance slowly, keeping an eye out for roadside bombs and listening for the telltale crackle of sniper fire. They hole up in abandoned houses shredded by bullet holes, taking shelter from mortar and rocket attacks, sometimes for several hours.

    At least four suicide bombers tried to ambush one of their positions in southern Tikrit on Monday, but the attack was repelled.

    The battle for Tikrit, Saddam Hussein's hometown, is seen as a key step toward eventually recapturing Mosul, the country's second largest city, which lies further north.

    http://rudaw.net/english/middleeast/iraq/31032015
    Last edited by pinkadonai1; 03-31-2015 at 11:49 AM.

  4. #4

    Re: The Dinar Daily, Tuesday March 31, 2015


    RE-POSTED FROM LATE LAST NIGHT......


    sczin11- OPINION PIECE

    I HAVE STATED MANY TIMES, I DIDN'T BELIEVE THERE WAS ANY DELAY IN THE MONETARY REFORM PROCESS AND THAT THE PLAN WAS ROLLING OUT METICULOUSLY, AS PER THEIR DESIGN...EVEN THOUGH IT APPEARED YEARS AGO, DR. SHABIBI WAS READY TO GO WITH THE REVALUATION OF THEIR CURRENCY, ONE MUST REALIZE, EVERYDAY NEW ISSUES ARISE, AND THE BEST LAID PLAN, OF MICE AND MEN, MUST BE ADJUSTED TO CONFORM TO THE ISSUES OF THE DAY!

    THAT BEING SAID, WE HAVE BEEN GIVEN MANY INDICATORS ADDRESSING THE NEEDS OF MONEY, LIQUIDITY, AND THAT MANY ADVANCEMENTS HAVE BEEN MADE IN THE BANKING SECTOR...ELECTRONIC PROCESSING, E-GOVERNMENT PLAN, CUSTOMS AND TARIFFS, QI CARDS, SMART CARDS, NATIONAL DATA CARDS, MC AND VISA, RATION, AND MORE...

    CERTAIN BANKS TESTED IN AND OUT OF COUNTRY...BANKS TRYING TO LURE CUSTOMERS BACK IN... LAWS, BANKING AND INVESTMENT BEING READ, AMENDED, AND VOTED...PRIVATE SECTOR IS IN SPOTLIGHT..THE FOREFRONT OF MOST DISCUSSIONS RELATING TO THE ECONOMIC REFORM...

    CBI HAS CALLED IN OLD FIFTY DINAR NOTES...NO SECURITY WORTH TALKING ABOUT ON THEM..ONLY GIVING 60 DAYS FOR THAT PROCESS, OR CONSIDER THEM WORTHLESS..NULL AND VOID....IS THEIR OTHER CURRENCY GOING TO BE WORTH THAT MUCH MORE?

    THE BUDGET GETS PASSED, AND WE WAITED FOR PRESIDENTIAL RATIFICATION..FINALLY, THAT BEING COMPLETED, WE WAITED FOR GAZETTE ENTRY..THEN WE WERE TOLD IT WAS ENTERED INTO LAW..THE GAZETTE...FIRST WE HEAR PART ONE, AND THERE WERE SEVERAL PARTS, THEN WE HEAR WHOLE THING...

    THEN WE WAIT FOR CBI TO FUND BUDGET...WE FINALLY SEE SOME IN COUNTRY SALARIES PAID, BUT NOTHING ON INVESTMENT OR PROJECT SIDE, WITH CONTRACTS FOR INTERNATIONAL COMPANIES, OTHER THAN ONES ON CREDIT OR WITH TERMS...

    SO, WE OPINE, THE BUDGET HAS NOT BEEN FULLY ACTIVATED, OR IMPLEMENTED...

    THEN WE READ THAT THE CBI HAS FILED A COURT ACTION, REGARDING MANY PROBLEMS THEY SEE WITH THE BUDGET...MANY ARE SPECULATING AS TO WHY THE BUDGET IS NOT BEING FUNDED BY THE CBI...WELL FOLKS, HOW CAN THE CBI FUND SOMETHING THAT MAY BE FORCED TO BE CHANGED...RESULTS FROM THE COURT ACTION MUST BE RULED IN ORDER FOR THE CBI TO KNOW WHAT AND HOW MUCH THEY CAN FUND....

    THINK LONG AND HARD AT WHAT I JUST STATED...HOW COULD THE CBI FUND A BUDGET LINE ITEM, AND THEN WATCH IT CHANGE BY A COURT RULING...BASICALLY, AN INJUNCTION AGAINST FUNDING THE BUDGET IS WHAT HAS TRANSPIRED...

    NOW WE SEE IN LAST COUPLE OF DAYS, COURT IS RULING OR HAS COMPLETED ITS RULING ON THIS CBI CLAIM...

    AND WHAT DO WE NOW SEE TODAY RELEASED?

    THE BUDGET HAS ONLY BEEN FUNDED 30%, AND THE REMAINING 70% WILL BE FUNDED IN THE NEXT FEW DAYS...

    PUT THOSE PUZZLE PIECES TOGETHER ....WE ARE ON OUR WAY...

    THE NEW IRAQI DINAR, THE FOREIGN INVESTOR, THE CITIZENS OF IRAQ, AND ALL OF US....MUCH TO BE ENCOURAGED ABOUT HERE!

  5. #5

    Re: The Dinar Daily, Tuesday March 31, 2015

    Iran nuclear talks at stalemate as deadline approaches



    Baghdad (AIN) - A final round of talks designed to settle the confrontation over Iran’s nuclear programme reached an impasse on Monday when diplomats warned of “significant differences” and Russia’s foreign minister left the meeting.

    After more than a decade of diplomacy, the deadline for a historic agreement falls on Tuesday. Yet the negotiations in the Swiss town of Lausanne – led by John Kerry, the US secretary of state, and six other foreign ministers - appeared to be hamstrung.

    On Monday night, a State Department official placed the chances of success at “50-50”, adding that America would take a “hard look” at the options if the talks fail.

    At 9.10am, Mohammad Javad Zarif, the Iranian foreign minister, met Mr Kerry and all the other ministers for a plenary session. But this lasted for only an hour, after which the negotiations were delegated to officials and experts.

    Sergei Lavrov, the Russian foreign minister, then left Lausanne, saying that he would return if there was a “realistic” prospect of an agreement.

    Mr Kerry and Mr Zarif met only once on Monday as participants in the plenary session. Their once regular flow of bilateral meetings has dried up: the two ministers have not talked one-on-one since Saturday.

    A diplomat in Lausanne described the negotiations as “very tough”, adding: “There are still significant differences of opinion. People are still playing hardball.”

    Three key issues are believed to stand in the way of an agreement that would resolve one of the Middle East’s most perilous crises.

    Iran wants all sanctions to be lifted the moment a final deal is signed; the US prefers a gradual easing of the pressure.

    Iran is prepared to limits its uranium enrichment programme – and associated research into advanced centrifuges – for a maximum of ten years. America and its allies are holding out for a longer period of restrictions.

    The US, for its part, wants United Nations sanctions to be restored automatically if Iran were to break an agreement. Russia and China want this decision to go before the Security Council, where they both wield vetoes.

    So far, these differences are proving intractable. “One cannot say there has been considerable progress in this round,” said Abbas Araqchi, the Iranian deputy foreign minister, in an interview with Tasnim news agency. “We may find out tomorrow [Tuesday] that reaching solutions isn't possible and talks need to proceed in another way.”

    Diplomats cannot tell whether the lack of progress on Monday reflected calculated brinkmanship before the deadline – or a genuine deadlock.

    The negotiations with Iran are handled by the “P5 plus 1” contact group, consisting of the Security Council’s five permanent members – America, Britain, France, Russia and China – plus Germany. All of the “P5 plus 1” have to be present for a deal to be signed, so Mr Lavrov’s absence rules out an agreement unless he returns.

    Delegates are grimly preparing for the talks to last for every hour until the deadline of midnight on Tuesday. “Those negotiations are going to go down to the wire,” said Eric Schultz, a White House spokesman, adding that President Barack Obama was being kept up to date.

    http://www.alliraqnews.com/en/index.php/political-news/66421-iran-nuclear-talks-at-stalemate-as-deadline-approaches.html
    Last edited by pinkadonai1; 03-31-2015 at 11:51 AM.

  6. #6

    Re: The Dinar Daily, Tuesday March 31, 2015

    Parliament's Works Continues To April 6, Presidency Says



    BAGHDAD / NINA / The Presidency of the Council of Representatives decided the continuing of the council's works (sessions and committees) until the sixth of next month.

    A statement to the media department at the council said that "tomorrow, March 31, will be dedicated to the work of the committees, and Wednesday, the first of April will be dedicated to the session."

    The statement added, "on Thursday, the second of April, will be dedicated to the work of the committees, while Saturday will be dedicated to hold a session and Sunday dedicated to the work of the committees, and the next Monday, the sixth of April will be dedicated to holding the parliamentary session."

    The Council is scheduled to reconvene on Tuesday, 24 March, but it was postponed to Saturday 28 March at the request of the Kurdistan Alliance for the continuation of Nowruz celebrations.

    http://ninanews.com/Website/News_Details.aspx?%252fcN%252bGJllhORA19sypjdXgw%2 53d%253d

    and

    The meeting's agenda No. (25) Wednesday (1) April 2015


    April 1, 2015

    Third parliamentary session
    The first legislative year
    Legislative Chapter II

    First, read verses from the Koran.

    Second: The vote on a resolution for Daash terrorist crimes against innocent Iraqi children. ( Legal Committee , the Human Rights Committee, the Committee on Women, Family and Children).

    Third: The first reading of the draft federal civil service law. (Finance Committee, the Legal Committee ). (Article 100).

    Fourth: the second reading of the bill to prevent the use and the spread of silenced weapons law. (Commission on Security and Defence). (Article 2).

    Fifth, the second reading of the first draft amendment to the Law on the Protection of mass graves Law No. (5) for the year 2006. (Commission of the martyrs and victims and political prisoners, Human Rights Committee, the Legal Committee ). (Article 10).

    Session begins at: eleven am


    http://parliament.iq/

    Courtesy of Donnie
    Last edited by chattels; 03-31-2015 at 01:16 PM.

  7. #7

    Re: The Dinar Daily, Tuesday March 31, 2015

    MP: Arab Summit recommendations incomplete, superficial



    Baghdad (AIN) -The Member of the National Alliance, Ali Al-Fyadh, reported that the recommendations of Arabian summit 26 are superficial and incomplete.

    “The summit did not touch the Arab sufferings, marginalizing some important issues, they are superficial and incomplete”, Al-Fyadh told AIN.

    http://www.alliraqnews.com/en/index.php/security-news/66425-mp-arab-summit-recommendations-incomplete-superficial-.html
    Last edited by pinkadonai1; 03-31-2015 at 12:44 PM.

  8. #8

    Re: The Dinar Daily, Tuesday March 31, 2015

    Conscious / work calls to compel companies to run national employment in investment projects



    Conscious / Baghdad / m LCalled on the Ministry of Labour and Social Affairs ministries and governmental institutions to compel employers and companies and contractors running the national employment in investment projects.

    A statement of the ministry's (news agency, media / INA) for general manager of the operating department and loans Riad Hassan as saying: "The ministry called on all ministries for not granting a work permit or renewal of Employers and foreign companies and local, but to provide a clearance to operate and loans department in order to ensure the implementation of instructions for the ministry for the granting of licenses work practice and to ensure the application of labor law with regard to the inclusion of workers social security and provide a healthy environment to work with the 50% of national employment in investment projects. "

    "The circuit is the introduction of Divisions (labor inspection department, and archive reports) within the Department of Labour Inspection of the need for the department to those divisions because of the size of the responsibilities of the department to monitor and inspect projects and a statement of national and foreign labor in size while ensuring the provision of safe and suitable working environment."


    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%3D3671801&usg=ALkJrhgTNy7asFQuClIc7jE_yuU3yWhwOw
    Last edited by pinkadonai1; 03-31-2015 at 12:45 PM.

  9. #9

    Re: The Dinar Daily, Tuesday March 31, 2015

    Parliamentary Energy: We have received a letter from the government to adopt the draft oil and gas law in 2011



    Received for the oil and energy parliamentary, a book from the government spends adoption of a draft oil and gas law, the 2011 edition.

    The committee member said Razak Mheibes, told all of Iraq [where]: "" The committee has not yet decided with the Presidency read. "

    "The laws that can read Committee, are exempt foreign contractors and sub, fees contractors on the geographic area within the oil licensing rounds."

    He was a member of the Commission on oil and energy parliamentary Zahid al-Abadi, said 18 of this March, for [where], "The previous government had sent oil and gas Pencchth amended the law in 2011 was sent currently before the Commission on oil and energy to the prime minister and we are waiting for the answer from the government for the purpose of reading within the Committee and submitted to the House of Representatives for the first reading, "adding that" the Commission calls for the Council of Ministers to send him to read it within the Commission and thus be submitted to the Presidency of the Parliament for inclusion on the agenda of the House agenda. "

    The Oil Minister Adel Abdul-Mahdi said in a 12 month in a statement that the absence of a law on oil and gas is the reason for the current stir the crises facing Alarac.anthy 2

    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/2014-06-14-07-34-14/174579--2011-.html&usg=ALkJrhgAtHU3GZ_caI1PXAjpUS_qT_SCWw

    Courtesy of the IQD Team
    Last edited by pinkadonai1; 03-31-2015 at 01:12 PM.

  10. #10

    Re: The Dinar Daily, Tuesday March 31, 2015

    Jordanian-based OFFTEC, a subsidiary of OFFTEC Holding Group, announced the opening of its first branch in Iraq.



    Located in the city of Erbil, the new branch further builds on OFFTEC ‘s growing network, which encompasses multiple branches across Jordan, Palestine and Sudan, all of which specialize in the provision of innovative business and technology services and solutions.

    Basim Said, Managing Director of OFFTEC, commented:

    “Inaugurating our first branch in Iraq corresponds with our goal to extend our products and services to a broader client base within the region. By being present in the Iraqi market, we will be able to offer our customers high quality products and premium after-sales services for which OFFTEC has become renowned for worldwide.

    “Over the past 105 years, OFFTEC has established longstanding partnerships with market pioneers across the world, thus securing our standing as a trusted provider of integrated business solutions and exceptional services.“

    OFFTEC is a leading provider of innovative business and technology solutions in the areas of Banking Technologies, Office Technologies and Furniture, IT and Physical Security, IT Infrastructure, Plastic Card Technologies, and Software Solutions.

    OFFTEC has built a large customer base spanning all industries including banks, private sector companies, governmental agencies and educational institutions, among others.

    (Source: OFFTEC)


    http://www.iraq-businessnews.com/2015/03/30/offtec-opens-first-branch-in-iraq/

    From a friend : BIG COMPANY. HERE IS A LIST OF THEIR PARTNER COS. DE LA RUE IS ONE OF THEM. http://www.offtec.com/index.php?page=parts INVESTORS ARE COMING INTO IRAQ.
    Last edited by pinkadonai1; 03-31-2015 at 01:14 PM.

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