" The Dinar Daily ", Saturday, 4 April 2015
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  1. #1

    " The Dinar Daily ", Saturday, 4 April 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 ", Saturday, 4 April 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 1254.033 1253.406
    British pound GBP 1722.648 1721.787
    Canadian dollar CAD 924.516 924.054
    Swiss franc CHF 1204.048 1203.446
    Swedish krona SEK 135.143 135.075
    Norwegian krone NOK 144.305 144.233
    Danish krone DKK 167.857 167.773
    Japanese yen JPY 9.721 9.716
    Special
    Drawing Rights
    SDR 1608.800 1607.996

    Indicative rates - 04.04.2015


    http://www.cbi.iq/

  3. #3

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Peshmerga fight off ISIS assault on Khazir front
    By Rudaw

    ERBIL, Kurdistan Region – Kurdish forces repelled a surprise attack by ISIS fighters early on Saturday on the Khazir front southeast of Mosul, a Peshmerga commander has told Rudaw.

    “ISIS launched a massive assault against Peshmerga forces in the village of Wardak on the Khazir front and we were engaged in the battle for hours. Later, coalition warplanes arrived and we repelled the attack,” said Sarbast Mantik, head of the 5th Zeravani Special Forces.

    “Several ISIS militants were killed, and they left five of the bodies behind.”

    According to Mantik, the extremists used armored bulldozers to fill defense trenches the Peshmerga had dug. After the arrival of coalition warplanes, the ISIS fighters were forced to leave the vehicles behind.


    Mantik said ISIS has launched multiple assaults on the Khazir front because it guards the strategic main road between the cities of Erbil and Duhok.

    http://rudaw.net/english/kurdistan/04042015

  4. #4

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Official: ISIS fortifies Mosul, relocates food supplies
    By RŰDAW

    MOSUL, Mosul province - Militant has begun building concrete walls in the city of Mosul, while moving out supplies of agricultural products out of the surrounding province, reports a political organization based in the ISIS-held city.

    “To prevent potential attacks from Iraqi forces against [ISIS militants], the gunmen have been building concrete walls inside the city and around the main entrance ways,” Sido Chito, head of Coalition of Brotherhood and Coexistence of Mosul Province, told Rudaw on Friday.

    Chito added that “the group has been moving farming products, including wheat, out of the province over the past several days using their trucks.”

    Iraqi defense minister announced in March the Islamic State had begun digging trenches and erecting other fortifications for the defense of the city.

    Baghdad has vowed to retake Mosul, Iraq's second-largest city, in coming months.


    http://rudaw.net/english/middleeast/iraq/030420153

  5. #5

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Iraq's Tikrit, free of the Islamic State, is a city in ruins
    By Associated Press

    TIKRIT, Iraq — In Iraq's Tikrit, liberation from the Islamic State group comes at a heavy price, both in loss of life and in the sheer devastation the militants leave in their wake.

    Much of Tikrit, Saddam Hussein's hometown and once a bustling city north of Baghdad, now lies in ruins.

    Islamic State extremists captured it during a blitz last June that also seized large chunks of northern and western Iraq, along with a huge swath of land in neighboring Syria.

    After a nearly 10-month Islamic State occupation, it took Iraqi forces and their allies, including Iranian-backed Shiite militias, a month of ferocious street battles to win the city back. They declared victory in Tikrit on Wednesday, and US-led coalition airstrikes also helped turn the tide in the final weeks of the battle.

    Today, the houses that still stand are pocked with bullet holes and Tikrit's streets are lined with potholes where mortars slammed down. The provincial headquarters in the downtown — now adorned with Shiite militia flags in place of the Islamic State group's black banner — is burned from fire and damaged from heavy fighting.

    On Friday, Iraqi Prime Minister Haider al-Abadi warned that the military will start arresting and prosecuting those who loot abandoned Tikrit properties. He also urged security forces to quickly ensure that normalcy is restored so that Tikrit's residents, most of whom fled the Islamic State onslaught, can return home.

    The looting was first reported within hours of the military victory but authorities have refrained from blaming anyone. A number of human rights organizations have accused the Shiite militias of carrying out revenge attacks on Sunnis in newly-recaptured towns, or destroying their homes so they can never return.

    Some Shiite militias have set up checkpoints on the southern approaches of Tikrit, and stop passing cars to check for looted goods.

    A satellite image of Tikrit, released in February by the United nations, showed that at least 536 buildings in the city have been affected by the fighting. Of those, at least 137 were completely destroyed and 241 were severely damaged. The Iraqi offensive to recapture Tikrit also exacerbated previous damage, particularly in the city's southern neighborhoods where clashes were the most intense.

    So much about life in Tikrit under the Islamic State group's rule remains unknown.

    On the city's outskirts, near Camp Speicher — a base once used by American forces — blood stains are splattered on a wall, next to a window offering a picturesque view of the Tigris River.

    Government officials, who spoke on condition of anonymity because they were not authorized to talk to journalists, say a mass grave was found on the camp's grounds with bodies of up to 1,700 Iraqi soldiers killed by the extremists in Tikrit and northern Iraq last June.

    In the heart of the city, Iraqi policemen are out in full force, along with explosives experts working to clear remaining roadside bombs and booby traps left behind by the militants. Evidence of the damage caused by the bombs is everywhere — charred military vehicles and remains of cars bombs have yet to be collected from the city streets.

    But elsewhere, there is little law and order, and the Shiite militias roam Tikrit streets freely, spray-painting their graffiti and slogans on buildings and homes.

    Much remains to be done before Tikrit residents, most of whom are Sunnis, can return. Services such as power and water are yet to be restored.

    The government says police and local Sunni tribes eventually will be empowered to maintain law and order in Tikrit, and the militias are expected to leave.

    But that is still off in the future.

    http://rudaw.net/english/middleeast/iraq/04042015

    and


    Iraqi premier orders prosecution for looters in Tikrit
    By Associated Press

    BAGHDAD - Iraqi prime minister Haider al-Abadi says the military will begin arresting and prosecuting anyone who loots abandoned properties in the newly-recaptured city of Tikrit.

    Saddam Hussein's hometown was recaptured by Iraqi forces Wednesday, ending a nearly 10-month occupation by the Islamic State militant group.

    Most of the city's homes remain abandoned and cases of looting from homes and businesses were reported within hours of the military victory.

    In a statement Friday, al-Abadi said security forces must ensure that normalcy is restored quickly so that the city's residents can return to their homes.

    http://rudaw.net/english/middleeast/iraq/030420155

    and

    Nujaifi: burning and stealing property of citizens in Tikrit, distort to the nation reputation.
    03/04/2015 10:35

    BAGHDAD / Nina /-- Vice President of the Republic Osama Nujaifi said : “ Burning and stealing property of citizens in Tikrit by armed groups represent a black message abort the true meaning of victory and harm to national unity.

    Nujaifi added in a press release : “ Our joy was a great for the victory achieved by our armed forces in Salahuddin province, particularly in Tikrit, which represent a get to the final victory on Daash terrorist groups but information about theft, arson and looting of property of citizens of Tikrit by armed groups is pre-empt the meaning the real triumph.

    Nujaifi noted that due to the volume of crime, we have conducted a series of contacts with President Fuad Masum, Prime Minister Haider al-Abadi, and Minister of Defense, who admitted that such crimes are crimes against the notion of a united nation and promised to take all necessary measures to stop such acts and to bring the perpetrators to accountable.

    Nujaifi held the government responsible for painful events that took place in Tikrit .

    http://ninanews.com/Website/News_Det...aIsg%253d%253d
    Last edited by chattels; 04-04-2015 at 11:11 AM.

  6. #6

    Re: " The Dinar Daily ", Saturday, 4 April 2015


    sczin11- PLEASE NOTE WHAT I HAVE HIGHLIGHTED IN THE ARTICLE BELOW...I DO NOT RECALL SEEING THIS IN THE PAST..HOWEVER, AS USUAL, I COULD BE WRONG- SO IT WOULD SEEM, A SELF IMPOSED FINAL DEADLINE OF JULY 29...TO GET THE HCA INTO AN AGREED HCL!



    Oil Minister Adel Abdul-Mahdi during his visit to the Baiji refinery in 11/09/2014

    Abdul-Mahdi: Baghdad and Erbil agreement is a reality and must be a fair solution to this thorny issue


    The writer:
    Editor: AB, HH
    04/04/2015 12:48
    Number of Views: 78




    Long-Presse / Baghdad
    Oil Minister Adel Abdul-Mahdi, said on Saturday that the agreement signed between the central government and the Kurdistan region "fait accompli" It is in everyone's interest to continue its pursuit to develop it, and pointed out that "the policies and attitudes wrong led to the complexity of the relationships and concepts", and with the exception of existing solutions. " temporary and compelling and taint some confusion and ambiguity ", called for a comprehensive and fair to the" thorny issue "solutions.
    Said Abdul-Mahdi said in a statement issued by the Information Office received a (long-Presse), "We are compelled to say that we are all the government and the region resort to solutions that forced the temporary instead of permanent solutions and reassuring," noting that "policies and statements and attitudes wrong over the past years has led to the complexity of the relationships and concepts overlap and accumulation practices and procedures and entitlements of this or that party. "
    Abdul-Mahdi said that "the most important reasons is the absence of oil and gas law and the law of distribution of financial resources and that each party to provide the private Constitution interpreted, disrupting the one hand adjustments and benefits that are right for the region and prevent the other hand entry exports values ​​carried out by the region is the right of the Iraqi treasury Federal "pointing out that" there had to be a quick agreement to regulate the budget 2015, the Al550 thousand barrels agreement on a daily basis. "
    He said Abdul-Mahdi, said, "Despite all the difficulties and disagreements, but the deal has a good atmosphere, meetings and helped to overcome the budget crisis and became a reality and remains steadfast is in everyone's interest to continue and develop."
    He said Abdul-Mahdi, that "17% of the budget allocated to the Kurdistan region since 2004 after deducting what to Kuwait and the rest of the sovereign expenditure and the ruling," noting that "the region was in a self-governing since the seventies and has since 1991, and the ministries and departments like exactly what the Federal Government began since the application of the "oil for food" program to receive 13% of the full import of Iraq's oil is only decided to Kuwait does not deduct them. "
    He said Abdul-Mahdi, that "the region enjoys according to the 2005 Constitution put the region with all its requirements of the Constitution and local government, was to be working according to the proportion of 17% for the organization dues on the one hand and to prevent double payments on the other hand," pointing out that "the region delivers the federal government part of the Al550 thousand barrels only issue for him the other part had to be calculated the percentage deducted from the 17% of any of the monthly dues suit and direct exports, to prevent as much as possible double payment and puts us in the way of the principle of the oil and gas belongs to the Iraqi people in all its regions and provinces. "
    Abdul-Mahdi, and pointed out that "these solutions are all temporary and compelling solutions to afflict some of the confusion and uncertainty," calling everyone "to implement what we have stated it all by

    seeking within six months or less from the adoption of the budget to

    sit down together to develop a comprehensive, fair and constitutional for the thorny issue

    solutions."

    The Ministry of Finance in the government of Iraq's Kurdistan region, announced in (23 March 2015), the arrival of 490 billion dinars sent by the central Ministry of Finance as part of the share of the Kurdistan region of the financial budget, while confirming the arrival of 135 billion dinars from Baghdad to the peasants of the region.
    The central bank in the Kurdistan region of Iraq, announced on Thursday (February 26, 2015), the arrival of 250 billion dinars from the central government to Arbil.
    The head of the Kurdistan Regional Government Nechirvan Barzani announced, in the 23 February 2015, he brought with him from Turkey during the recent visit of $ 500 million to pay the salaries of the staff of the Kurdistan region.
    The head of the Kurdistan Regional Government, Barzani revealed, in the (February 16, 2015), for the Baghdad to pay salaries to its employees every 40 days, and confirmed that the central government "bankrupt" and undergoing a financial crisis, and said that the right of the region cut off oil exports in the event of non-receipt of allowances agreed, as pointed out that the agreement provides for sending more than one trillion dinars from Baghdad to Arbil.
    Agreed the central and Kurdistan governments in the (second from December 2014), to allocate a portion of the federal allocations of Iraqi ground forces to the Peshmerga forces, and delivery of the Kurdistan Regional Government, 250 thousand barrels of oil per day in addition to the export of Iraq 300 thousand barrels per day of Kirkuk.
    With the agreement also included the granting of a trillion and 200 billion dinars for the Peshmerga forces and the allocation of a percentage of the budget of the Ministry of Defense have.
    It is noteworthy that several cities in the Kurdistan region, especially Sulaymaniyah, (364 km northeast of Baghdad), and Erbil, witnessed during the last period, staff demonstrations to protest the delay in payment of salaries, three months.
    It is noteworthy that the former head of the federal government, Nouri al-Maliki, cut the region's budget, and the salaries of its employees, since last February 2014, due to differences between the parties on the oil file.

    http://translate.googleusercontent.c...kqo3uxmvebCxrA




    AND

    Abdul-Mahdi: understanding the oil between Baghdad and Erbil became a reality

    Oil Minister Adel Abdul Mahdi






    Author: Editor: sz Reporter:Number of Views: 28

    04/04/2015 13:19


    Tomorrow Press / Baghdad: The Minister of Oil, Adel Abdul-Mahdi, the Sabbath, that the understanding reached between the federal government and the Kurdistan Regional Government, has become a reality, pointing out that the interests of Iraq continue to spend it and seek to develop it.

    Said Abdul-Mahdi, in a press statement received by "tomorrow Press," "compelled to say that we are all (government and the province) resort to solutions forced the temporary instead of permanent solutions and reassuring," noting that "policies and statements and attitudes wrong over the past years has led to the complexity of the relationships and concepts overlap and the accumulation of practices and procedures The benefits of this or that party. "

    He explained that "the most important reasons for the absence of oil and gas law, and the law of distribution of financial resources .. and that each party to provide the private Constitution interpreted, disrupting the one hand adjustments and receivables, that is right for the region and prevent the other hand, entry exports values ​​carried out by the province, is right Iraqi federal treasury, so without mentioning the other things. "

    And "had to be a quick agreement to regulate the budget 2015, the Al550 agreement thousand barrels daily average. In spite of all the difficulties and disagreements, but the agreement has improved the atmosphere and meetings, and helped to overcome the budget crisis, and became a reality, and remains steadfast. We believe that everyone's interests to continue and develop. "

    He continued, "we have been since 2004 to allocate 17% of the budget for the Kurdistan region (after deducting what to Kuwait and the rest of the sovereign expenditure and the ruling), The region was in a self-governing since the seventies, and has since 1991 (and the withdrawal of government forces from it) and the ministries and departments quite similar to what the Federal Government .. and began application of the "oil for food" program to receive 13% of the total imports of Iraqi oil, (only decided what to Kuwait) does not deduct them.

    He pointed out that "the province enjoyed according to the 2005 Constitution to establish" territory ", with all its requirements of the Constitution and local government, was to be working according to the proportion of 17% for the organization dues on the one hand, and to prevent double payments on the other. Since the province delivers the federal government part of Al550 thousand barrels only, and shall issue to his advantage the other part, was to be calculated by the percentage deducted from the 17%, from the monthly dues, fit and direct exports .. which prevents as much as possible the double payment, and puts us in the way of oil and gas principle belongs to the Iraqi people in all its regions and provinces ".

    He concluded his speech, Minister of Oil, "It's time to do what we have stated all of us, as if approving the budget, we will seek within 6 months or less, to sit down together to develop a comprehensive, fair and constitutional solutions to this thorny issue."

    http://translate.googleusercontent.c...3zIirygvKzlJ8w




    Last edited by sczin11; 04-04-2015 at 11:36 AM.

  7. #7

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Mishan al-Jubouri, chaos happens parliament boss threatened with expulsion










    04-04-2015 01:08 PM
    A parliamentary source said on Saturday, that 'Haddatt altercation between Parliament Speaker Salim al-Jubouri, and MP Mishan al-Jubouri, with the first threatened to expel the latter in the absence of commitment to the controls.
    The source added to (news) today, that 'the speaker of parliament threatened to expel MP Mishan al-Jubouri in today's session, while one MP Fozy inside the meeting on the decision of the Electoral Commission not to the health of its membership deputy in parliament because of school performance'.
    He said the source, who declined to be named, said 'Mishan al-Jubouri spoke loudly during the meeting to protest what the latest chaos inside the hall to protest the decision to the Election Commission and the Supreme Judicial Council not to health membership, while the' parliament speaker asked Jubouri back to his place and not to speak until allows him and threatened to expel him in the absence of commitment '.
    It is said that the Liberal MP for the Bloc Awad al-Awadi revealed earlier documents not membership MP Mishan al-Jubouri's health being did not get the junior certificate that qualifies him to be a member of parliament.


    http://translate.googleusercontent.c...GyN9BhNw6Wtj5g

    and

    And in the meantime IHEC has accepted the candidacy of one Mishan al-Jabouri, a well known personality who is accused of corruption, who once supported Saddam Hussein and who has links to extremists groups. A few months ago al-Jabouri announced that he was going to support al-Maliki and many say that’s why IHEC accepted his nomination, despite clearly having a very messy reputation for bad behaviour.

    Read more at http://www.juancole.com/2014/03/poli...riticized.html
    Last edited by chattels; 04-04-2015 at 04:34 PM.

  8. #8

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    ISIS 'replaces' foreign leaders with Iraqis in Anbar
    By RUDAW

    ERBIL, Kurdistan Region - The Islamic State has been replacing the group’s foreign military leaders in Anbar province with fighters of Iraqi nationality, reportedly in a bid to secure its intelligence services, a local tribal leader has told Rudaw.

    “Daesh [the Arabic acronym for ISIS] are moving its foreign leaders from Anbar to Syria and Afghanistan and deploying Iraqi militias instead,” Naeim Gadut, leader of Albunamr tribe said on Friday.

    “The newly deployed Iraqi [ISIS] militias are those who escaped Iraq years ago to Syria and Caucasus”.

    The Islamic militants, who have dominated large parts of Anbar province since last year, have accused the Albunamr tribe of collaborating with the Iraqi government. Hundreds of Anbar tribal members, including women and children, have been murdered by ISIS fighters.

    “Daesh is trying to keep their secrets hidden as much as possible. They don’t want the military and financial help of some regional countries or political parties to be discovered,” Gadut added.

    The head of Iraq's powerful Shiite militias, known collectively as the Popular Mobilization Units, said on Friday the forces will capitalize on a hard-won victory in Tikrit and advance westward to next liberate Anbar province from the Islamic State.

    http://rudaw.net/english/middleeast/iraq/040420151

  9. #9

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Parliament ends today’s session to next Saturday. ( TODAY )

    01/04/2015 15:36

    BAGHDAD / Nina /--Speaker Salim al-Jubouri, ended today’s session to next Saturday, the fourth of April.

    The parliament had held its twenty-fifth session before noon today under the chairmanship of President of the Council of representatives , Salim al-Jubouri with the presence of 185 deputies out of 328, the total number of members.

    Speaker called in the beginning of the meeting to cancel all vacations for deputies until the end of the current legislative term, and called on them to abide and attend the sessions and meetings of parliamentary committees to speed up the discussion and adoption of important laws .

    http://ninanews.com/Website/News_Det...4Mtw%253d%253d

  10. #10

    Re: " The Dinar Daily ", Saturday, 4 April 2015

    Parliamentary Finance: Iraq is exposed to a wider money laundering


    10:45: 4/4/2015




    Khandan - the Finance Committee in the House of Representatives revealed, that Iraq has lost over the past ten years, hundreds of billions of dollars in money that is still going on so far laundering operations, confirming the formation of a sub-committee to follow up on this subject. The committee member said Masood Haider told the "morning" : The Commission hosted the Finance Minister, Hoshyar Zebari, and the Governor of the Central Bank on the Keywords and director of the Anti-Money Laundering Department and President of the General Customs Authority, noting that President House during the meeting host theme is anti-money laundering during the past ten years, which cost Iraq losses of up to hundreds of billions of dollars. He said Haider that the committee was able to get a lot of information and documents confirming this thing and makes them suspect companies and offices small banking is working to convert those amounts to Iraq's neighboring countries, indicating that the evidence points to the exposure of Iraq to process very large money laundering over the past years, It is still going on so far, what prompted the Commission to hold the meeting host in order to stand in front of the continuation of this process in a position to destroy the Iraqi economy, describing it as a "terrorist operations economically." He accused a member of the parliamentary finance committee what he described as "big heads" to stand behind money laundering operations in Iraq, noting that in the developed banking system be easy to make sure the person who buys foreign currency and hundreds of millions of dollars, but the lack of a bank electronic system can correctly work on it easily in such incidents has allowed a lot of field operations corruption and forgery and fraud in the banking sector in Iraq.


    http://www.xendan.org/arabic/drejaA....ra=11526&Jor=2

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