The Dinar Daily, Wednesday April 8, 2015
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  1. #1

    The Dinar Daily, Wednesday April 8, 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, Wednesday April 8, 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 1264.760 1264.128
    British pound GBP 1735.824 1734.956
    Canadian dollar CAD 933.696 933.230
    Swiss franc CHF 1212.815 1212.208
    Swedish krona SEK 136.373 136.304
    Norwegian krone NOK 144.875 144.803
    Danish krone DKK 169.280 169.195
    Japanese yen JPY 9.752 9.748
    Special
    Drawing Rights
    SDR 1615.458 1614.650

    Indicative rates - 08.04.2015


    http://www.cbi.iq/
    Last edited by sczin11; 04-08-2015 at 10:24 AM.

  3. #3

    Re: The Dinar Daily, Wednesday April 8, 2015

    Re-Post from late yesterday...

    sczin11- IS THIS PICTURE REAL? IS IT CURRENT? IS THE ARTICLE FABRICATED, OR IS THE CONTENT TRUISM? WHO IS THIS PENINSULA MEDIA? HAS ANYONE SEEN IT BEFORE? WILL WE SEE FURTHER INFO ON THE CONTENT BELOW? IF YOU CAN FIND ANYTHING, PLEASE HELP US VALIDATE, OR DEBUNK THIS INFO...COME PUBLIC AND LET US KNOW...THANK YOU TO ALL WHO HAVE WORKED SO HARD, TO MAKE THIS COMMUNITY, WHAT IT IS TODAY!

    Iraq in talks with IMF, no decision yet



    Iraq’s Finance Minister Hoshyar Zebari (left) and Iraqi Central Bank’s governor Sinan Al Shabibiattend a meeting of Arab Financial Institutions yesterday in Kuwait City.

    KUWAIT: Iraq is discussing its financial situation with the International Monetary Fund but has made no decision to request emergency assistance, Iraqi Finance Minister Hoshiyar Zebari said yesterday.

    Asked by reporters if Iraq was in touch with the IMF, he said: “Well we are actually discussing with the IMF especially — they have some emergency assistance. We haven’t decided to resort to them. At the moment, we are not that bad.”

    The plunge in oil prices since last year is ravaging Iraq’s state finances. The government has projected a budget deficit of roughly $21bn this year and it has been building up debts to the companies developing its oil fields.

    Speaking on the sidelines of a financial conference in Kuwait, Zebari did not elaborate on what aid might be provided by the IMF. He has previously said Iraq plans to raise $1.8bn this year by using Iraq’s Special Drawing Rights at the IMF, which would be different than an emergency loan program.

    “Iraq is not bankrupt — we have plenty of assets we can use,” he said yesterday. But he also said, “We have a serious cash flow problem,” adding that Iraq’s financial squeeze was “very serious”.

    Reuters
    http://thepeninsulaqatar.com/business/middle-east-business/331194/iraq-in-talks-with-imf-no-decision-yet

  4. #4

    Re: The Dinar Daily, Wednesday April 8, 2015

    sczin11- ANOTHER RE-POST FROM LATE YESTERDAY.... THANK YOU OL LAR FOR BRINGING IT IN... FOLKS, COULD THIS ALL BE PART OF THE PUZZLE COMING TOGETHER? IS ACTING GOVERNOR OF CBI, THE MALIKI APPOINTMENT DURING THE LAST MINUTES OF HIS CARETAKER APPOINTMENT LAST JULY, 2014, BE PART OF THIS TEMPORARY GROUP? COULD HE BE INCLUDED IN THE CORRUPT EDUCATION FILES OF FORGED/COUNTERFEIT CERTIFICATES, AS CHALIBI CLAIMED A FEW MONTHS BACK? IS DR. SINAN AL SHABIBI, IN LINE, PATIENTLY WAITING FOR HIS TURN? STAY TUNED............

    Aajl..mketb Abadi: Acting appointments are temporary and will expire soon



    [Baghdad-where] Sabri Saad spokesman said the prime minister’s office said Haider al-Abadi “appointments acting in independent bodies are temporary and will expire in the next few weeks” follow ..



    http://www.alliraqnews.com/modules/news/article.php?storyid=965
    Last edited by pinkadonai1; 04-08-2015 at 11:26 AM.

  5. #5

    Re: The Dinar Daily, Wednesday April 8, 2015

    Re-post from Yesterday...

    sczin11- ON YOUR MARKS, GET READY, SET...DINAR GLASSES ON! REMEMBER, A FEW MONTHS BACK, MAYBE BEGINNING OF THE YEAR, RELEASES COMING OUT, WITH THREATENING INFORMATION ABOUT MANY FORMER/CURRENT MALIKI SUPPORTERS? REMEMBER, I THINK CHALIBI, WAS QUOTED AS STATING THAT THE ACTING GOVERNOR OF THE CBI, HAD MANAGED TO EMPLOY HIS DAUGHTER, USING FORGED CERTIFICATES/DIPLOMAS? I BELIEVE IT EVEN SUGGESTED KEYWORDS HIMSELF, WAS HOLDING FORGED CERTIFICATES AS WELL... AND THEN WE READ, THAT BIG NAMES WERE GOING TO BE ANNOUNCED/REVEALED SHORTLY, AS BEING INVESTIGATED BY THE INTEGRITY COMMITTEE/JUDICIARY COURT SYSTEM... BUT, AS IS CUSTOMARY WITH THE NEWS RELEASES AND RHETORIC FROM IRAQ, DAYS, WEEKS, MONTHS HAVE PASSED, AND THE STORY/NEWS DISSIPATES... CHARGES WRITTEN UP AGAINST MALIKI, AND SUBMITTED SIMILAR TO OUR GRAND JURY SYSTEM, AND NOTHING FOR LONG PERIODS OF TIME.. MAHMOOD TOO OLD...MAHMOOD WILL BE FIRST TO BE INVESTIGATED...MALIKIS SON WILL BE BROUGHT IN...AND ON AND ON...

    EVERYTHING COMES FULL CIRCLE...LOOK AT THIS RELEASE.............. COULD THIS BE THE START? COULD THIS BE WHAT WAS SUGGESTED OVER 3 MONTHS AGO?

    AGAIN, WE REPORT, WE OPINE, YOU DECIDE!



    Parliamentary Education opens forged certificates files end of this month




    Tomorrow Press / Baghdad announced the Education Committee in Parliament, on Tuesday, it will work to open fraudulent certificates files end of this month, pointing out that there is a program to investigate fraudulent certificates in all state institutions.

    Said committee member Khadija Valley for "tomorrow Press", "The Commission has a lot of reports and files corrupt in the education sector, including the fraudulent certificates Files", indicating that "the Commission will open the certificates the end of this month file in coordination with the Ministries of Education and Higher Education."

    She added that "the members of the Parliamentary Education are conducting contacts with government institutions for the purpose of detecting the number of fraudulent certificates."

    The speaker of the House of Representatives last week, Salim al "all members of the House of Representatives to disclose their testimony the school.


    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%3D3694194&usg=ALkJrhjU3BpH7ZAo-7Snr7HhhAO4F28UMg

  6. #6

    Re: The Dinar Daily, Wednesday April 8, 2015

    sczin11- REMEMBER, A FEW MONTHS BACK, ONE OF THE BIG "SUSPECTED" REAL ESTATE ACQUISITION, WAS BY JUDGE MAHMOOD, FROM SADDAM HUSEIN...

    Parliamentary Integrity form a committee to open the file properties of Staff of the former regime



    Information / Baghdad / ..Announced the Integrity Committee member of the parliamentary Aqil al-Zubaidi, Wednesday, for the formation of a sub-committee to open the file, or the allocation of ownership or sale of property of the former pillars of the regime seized outside the window of legal controls.

    Zubaidi said in a statement received by the agency / information / copy of it, "past his committee to investigate the fate of the real estate belonging to the staff of the former regime, and reserved a decision of the Governing Council, after 2003, through a review of the ownership of these properties and those who sold and destiny."

    He added that "the committee she met director general properties of State in the Ministry of Finance, and a number of interested parties in this regard, and still continues to determine the fate of these properties through a review of documents and roads that have been under the transfer of ownership and actors and people beneficiaries of it."

    Zubaidi said that "if the investigation is complete, the details will be lifted completely to the head of the Integrity Committee and then to the parliament to make the right decision about it."

    The Committee on Parliamentary Integrity has demanded, earlier, the relevant authorities by providing them with all the required documents on the properties of Staff of the former regime, which was sold to the beneficiaries to determine the legality of such sales and the fate of imports involved. Finished / 25 R.

    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%3D3697473&usg=ALkJrhhfukLMMrfb0hPAo634KRPts5cgXg

    Last edited by pinkadonai1; 04-08-2015 at 11:28 AM.

  7. #7

    Re: The Dinar Daily, Wednesday April 8, 2015

    Qadu: Commission of Inquiry fall of Mosul completed questioning VIPs



    BAGHDAD / Source News / .. MP for the Shabak, a member of the parliamentary committee investigating the fall of the city of Mosul nostalgia Qadu The Commission of Inquiry is about to complete the interrogation process of the characters listed in the investigation process.

    He added in a press statement that "the Commission exceeded the 85% of the investigation, and the next few weeks will see the announcement of the main reasons for the fall of the city of Mosul, however Daash terrorist gangs last June."

    He explained that "the Commission would host and former Defense Minister Saadoun al-Dulaimi and current Minister of Defense Khalid al-Obeidi, and a group of senior officers who were in charge at the head of the military teams to protect the city of Mosul."

    The Chairman of the Committee of the fall of Mosul of quitting earlier, the commander of Nineveh operations exempt from his Mahdi Ghraoui feet and important documents in the case of the fall of Almousel.anthy / p

    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%3D3697653&usg=ALkJrhgnct8GPJVspu8f61VBn0vc9QvFFQ
    Last edited by pinkadonai1; 04-08-2015 at 11:29 AM.

  8. #8

    Re: The Dinar Daily, Wednesday April 8, 2015

    IMF calls for the organization of Islamic finance


    The IMF called for "more regulation and supervision" in Islamic finance, which is growing rapidly, although it is a small percentage of the activity of the global financial markets. According to the report that the Islamic banking operations lead to a variety of risks.

    He emphasized the formation of a working group to intensify the "analytical work on Islamic finance in the most important areas, including regulation and control over the activities of Islamic banks ... and safety policy and markets instruments."

    The term "Islamic finance" to provide financial services in accordance with Islamic law and the principles and rules. The law prohibits charging "usury" and speculation.

    It includes Islamic finance currently banking, leasing activities, and markets instruments and Takaful and other activities, but the assets of banking instruments represent 95 percent of the total Islamic finance.

    But still most of the Islamic finance assets are concentrated in the countries of the Gulf Cooperation Council, Malaysia, Iran, and do not represent only about 1 percent of global financial assets, amounting to $ 140 trillion.

    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%3D3697625&usg=ALkJrhifwN1CpggcZRlkMUAlT_SHWuHVdw
    Last edited by pinkadonai1; 04-08-2015 at 11:31 AM.

  9. #9

    Re: The Dinar Daily, Wednesday April 8, 2015

    The start of the military operation to liberate al-Anbar Islamic state




    Iraqi forces in the city of Tikrit - Anbar Anatolia announced the local government of Anbar, western Iraq Wednesday, the start of military operations to liberate and cleanse Anbar organizedIslamic state "Daash" terrorist, referring to the participation of all the tribes in the province to support the security sectors of the army, police and other security sectors.

    The head of the Anbar Provincial Council Krhot morning, told Anatolia that "military operations, was launched this morning, to edit and disinfect all areas of Anbar cities controlled by the terrorist organization Daash."

    He added that "all military operations Anbar tribes participate, and 10 thousand fighters of their children to support the troops and the local and federal police and the fight against terrorism and respond rapidly, and the rest of the other security sectors."

    He Krhot saying, "The military operation was launched from the city of Ramadi (the county) to release it from the terrorist organization Daash and private areas controlled by surrounding the city."
    Despite the loss, "Daash" for many of the areas dominated by the last year in the provinces of Diyala (east), Nineveh and Salahuddin (north), but the organization still maintains control over most of the cities and regions of Anbar, which was dominated by since the beginning of 2014.

    On June 10, 2014, the organization Daash dominated the city of Mosul, Nineveh province (north) before expands its control over large areas in the north, west and east of Iraq, as well as the north and east of Syria, and announced in the same month, the establishment of what he called the "Caliphate State".

    The work of Iraqi forces and militiamen loyal forces and Kurdish Peshmerga (northern region of Iraq's army) to regain control of the areas dominated by the "Daash", and that air support from the international coalition, led by the United States, which launched air strikes on the organization sites.

    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%3D3697573&usg=ALkJrhjg9UP1hfrVxU05B-P9BhQL6DLFUQ


    ​AND



    Starting edit Anbar operations with the participation of ten thousand fighters from tribal members




    Anbar - Iraq Press - April 8: The commander of operations Alonbaralloa corner Qassem Mohammadi, starting editing operations of the so-called conservative elements of organized Daash, noting that the "popular crowd involved in the process as well as the security forces and tribesmen."

    He Mohammadi "The operation was launched from Alsjaria area, and will not stop until the liberation of the entire province," pointing to "the determination of the security forces expelled Aldoaash of the province and declared them free."

    To sources in the provincial council said that "military operations to liberate all the cities and regions of Anbar province, was launched today from Alsjaria area east of Ramadi," indicating that "these operations dubbed the Great Liberation Anbar process name."

    It noted that "the security of pieces from the army, local and federal police and the Rapid Reaction Brigade and the Counter-terrorism and more than 10 000 fighters from the tribes involved process and the backing of the international and Iraqi aviation." A finished. H

    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%3D3697616&usg=ALkJrhgT_y56eLIa7o5vS1RkTe-4eaNDqg


    AND



    Great Anbar editing process begins two



    The president of the Council of Anbar province Krhot morning, Wednesday, that the security forces and freed two tribes east of Ramadi, indicating that editing is a major part of the process of Anbar.

    Krhot said that "the security forces and after major military operation to liberate the start of Anbar dominated Daash terrorist organization, managed to free Alsjaria areas and peasant eastern gray elements Daash," noting that he "has been killed and wounded dozens of organization."

    He Krhot that "those forces seized control of entire regions," adding that "security forces continue to offer the rest of the areas of the province."

    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%3D3697622&usg=ALkJrhgVRYSsJsMUljCcHHyZ7xPS9JfvVg



    The Chairman of the Anbar province morning Krhot, announced earlier on Wednesday (April 8, 2015), the launch of military operations to liberate all the cities and regions of the province, indicating that these operations dubbed "Operation Grand edit Anbar", while stressing that more of 10 000 fighters from the sons of the tribes involved process.

    Last edited by pinkadonai1; 04-08-2015 at 11:35 AM.

  10. #10

    Re: The Dinar Daily, Wednesday April 8, 2015

    Fahdawi calls for international companies to invest in the electricity sector



    {Baghdad: Euphrates News} called Electricity Minister Qassim Fahdawi, international companies to invest in the electricity sector, and to provide electrical power and development service in the public interest.

    Fahdawi said during his speech at the specific activities of the second exhibition of the Ministry of Electricity seen by the agency {Euphrates News} "The ministry began to develop new mechanisms and facilities to the private sector for private citizens Musharakh service of providing electrical services to the citizens."

    "The ministry did not take any government investment effort, and it will depend on your investment through the assignment of power stations, to a long-term contract with specialized areas of electrical energy investment companies."

    "The ministry addressed the Council of Ministers regarding the issuance of a law that allows for investment companies, re-manufacture of spare parts," pointing out that "the exhibition contains tools backup shown waiting for specialized companies for remanufacturing."

    And that "the ministry is seeking to enter the private investment in the distribution sector," stressing that "the ministry develop mechanisms for the adoption of the events in this regard," calling "companies to contribute in this regard for the advancement of the Ministry of Electricity private investment reality." It's over

    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%3D3697598&usg=ALkJrhgnQdQat63kzEFsWUmpCXghRdT-HA
    Last edited by pinkadonai1; 04-08-2015 at 11:36 AM.

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