The Dinar Daily, Sunday April 26
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  1. #1

    The Dinar Daily, Sunday April 26


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1256.015 1255.387
    British pound GBP 1749.583 1748.708
    Canadian dollar CAD 959.908 959.428
    Swiss franc CHF 1209.042 1208.437
    Swedish krona SEK 133.285 133.218
    Norwegian krone NOK 147.489 147.415
    Danish krone DKK 168.363 168.279
    Japanese yen JPY 9.718 9.713
    Drawing Rights
    SDR 1611.121 1610.315

    Indicative rates - 26.04.2015

    Currency Auctions

    Announcement No. (2937 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 23/04/2015 (no change as of 26/04/2015) and the results were as follows:

    Number of banks 18
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 139,045,742
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 139,045,742
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 04-27-2015 at 09:48 AM.

  2. #2

    Re: The Dinar Daily, Sunday April 26

    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


    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 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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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


    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.


    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.


    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.

    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,
    Last edited by pinkadonai1; 04-27-2015 at 10:01 AM.

  3. #3

    Re: The Dinar Daily, Sunday April 26

    US Agency for International Development logo (USAID)
    USAID: we have provided more than 18 thousand jobs in Iraq and there are those who do not want the job

    Long-Presse / Baghdad Confirmed the US Agency for International Development opportunities Project Management (USAID), said on Sunday that the project provided 18 thousand and 500 jobs for Iraqis in various provinces, and as pointed out that some people do not want the job, confirmed that it has created jobs for international companies in Iraq as a base.

    Said Acting Deputy US Agency for International Development Director (USAID) Kaya Adams said in an interview to the (long-Presse), that "the chances of high-profile programs at the US Agency for International Development project, a specialized program to address unemployment," indicating that "This program has achieved successes in Iraq and make it take a large area of ​​the programs of up to 20% of the total work in other countries. "

    Adams added that "the unemployment problem faced by many countries, especially the Middle East countries, therefore, the existence of this program in Iraq in particular is of great importance," pointing out that "the chances of a program that has employment gate within the work gate, whether in public or private, where staff are working project with private and public companies and shop owners to monitor, diagnose and register vacancies they have and put it on the web page of the program. "

    Adams added that "employment project not only job search for those interested and registered with, there are other activities, including the creation of the job seeker to work through courses organized by project staff with government agencies and private aims to teach them, whether they are male or female how to apply for a job and the use of computer and management business, technical and industrial different. "

    Adams confirmed that "the project focuses on the younger classes and ladies, as well as focus on displaced women category, according to our experience with the project and our work in Iraq show us, that most of the people from the men and women prefer a government job where the state owns today 40% of the total jobs in Iraq, and there is a problem real face is that after finding job applicants are accepted Ntfaji he Aivhb her, after accepting her and go to join them and do not continue to go to tea at cafes and return them. "

    Adams noted that "the chances of working closely with the General Secretariat of the Council of Ministers and with the Iraqi universities and also with the Ministry of Labour and Social Affairs Management Project," asserting that "the project has succeeded to provide 18 thousand and 500 jobs for Iraqis, where the project has a 2800 point registered looking for workers to have them 1500 hand looking for workers is real at the moment. "

    She said Adams, that "there are 20 thousand jobs on employment portal which arrived Zaúrōha They continuously to 600 000 people," pointing out that "the cost of the project amounted to $ 37 million that went to the creation of employment gate various branches as well as working with professional centers trained wishing to employment. "

    Adams attributed the causes of unemployment in Iraq to "ill-employment in the administration of Iraq and the lack of knowledge of the young or young at how to get the job as well as the country's lack of investment projects are large and spacious."

    She stressed Adams, "We realize that Iraq in the passage of time will be a point-and-center attractive for foreign investment and not only oil, but in different Kaltjaria, industrial and tourism and other areas, and for that I worked for project management partnerships with mobile phone companies operating in Iraq, local commercial companies as well as international companies To prepare the employment base will help these companies to meet the needs of workers especially international companies that want to work in Iraq, the issue of finding a job working for them and we have provided an orderly and smooth. "

    Adams pointed out that "This project was supposed to end in February," afterthought said, "but in the current situation in Iraq and after the construction of such a large base of the project we are looking for partners to complete and continue it in time there will be a project to end it."

    Since 2003, The US Agency for International Development, Chief Representative of the Government of the United States in the reconstruction efforts in Iraq, in collaboration with other US government agencies.

    The US Agency for International Development and focused on the restoration of basic services such as health, education, water and electricity, and improve economic opportunities and build the foundations of democracy and governance, and conflict management.
    Last edited by pinkadonai1; 04-26-2015 at 04:28 PM.

  4. #4

    Re: The Dinar Daily, Sunday April 26

    Financial representative: reduced state revenues because another added to rising dollar

    Tomorrow press Baghdad the parliamentary Finance Committee, asserted that the State's financial revenues derived from the sale of crude oil because of another high dollar exchange rate for the dinar, is required to activate the non-oil sectors.

    The Committee Member said Majida Al-Tamimi for "tomorrow," "the recent Central Bank action to tax began, article 50 of the budget that the Iraqi Central Bank sales of the $ 75 million today, not alone have caused the rise in the dollar to dinar, but there are other reasons".

    "The reduced revenue of the State of oil sales, mainly due to higher prices of the dollar because the Ministry of finance and to the dollar from the sale of oil you buy dinar from the Central Bank in dollars earned", stating that "the country's oil revenues dropped by 50%, after falling oil prices to 50 dollars a barrel, which contributed to the low income of hard currency," dollar ", affecting the exchange rate of the national currency".

    Tamimi called for "the need to activate other non-oil sectors such as industry, agriculture and tourism to offset the State's financial balance and not rely on oil, basically."

    He was the Governor of the Central Bank revealed the agency relationship, for tomorrow, Saturday, the rise of the dollar against the Iraqi dinar because of customs duties and income tax to buy the dollar, imposed by the Government. %2F%25D8%25A7%25D9%2584%25D9%2585%25D8%25A7%25D9%2 584%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D9%2586%25D9%258A%25D8%25A7 %25D8%25A8%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2586%25D8%25AE%25D9%2581%25D8%25A7 %25D8%25B6-%25D8%25A7%25D9%258A%25D8%25B1%25D8%25A7%25D8%25AF %25D8%25A7%25D8%25AA-%25D8%25A7%25D9%2584%25D8%25AF
    Last edited by pinkadonai1; 04-26-2015 at 04:43 PM.

  5. #5

    Re: The Dinar Daily, Sunday April 26

    OPEC expects to return the balance in the second half and stresses the need to recognize the current realities in the oil market

    BAGHDAD / follow Baghdadi News / ... the Secretary General of the Organization of Petroleum Exporting Countries "OPEC" Abdullah al-Badri predicted that the crude oil market back to equilibrium during the second half of this year, pointing out that the first half was characterized by consistently abundant global crude oil supply surplus demand up to two million barrels per day.

    Al-Badri said in the Journal of the Bulletin newly issued, and pursued / Baghdadi News / "The last few months have seen a wide heights supply of oil producers outside OPEC," adding that "Since 2008, the supply of oil has risen from countries outside the Organization of about six million barrels per day, while remained production OPEC steady at 30 million barrels per day. "

    Badri stressed that "the demand for oil in 2014 was weaker than originally expected at the beginning of this year," noting that "the expectations of demand growth this year is better than last year, where demand growth in the last year a million barrels a day, is expected to reach to 1.2 million barrels per day this year. "

    Badri said that "the global economy indicators carry optimistic and pessimistic expectations of both, but the OPEC expects that global economic growth recorded in the current year rate of 3.4%, compared with 3.2% in 2014".

    Badri pointed out that "the global oil and gas industry went through a number of cycles and changes that affect the adaptation and evolution of the industry," adding that "the last period was difficult and a challenge for the market and their employees and there is no doubt that the past nine months was one of the most dangerous periods of volatility after several years of stability. "

    Badri said that "the organization does not believe that the actual market fundamentals can offer a reasonable explanation for the loss of nearly 60% as a result of the decline in prices in the period between June 2014 and January 2015".

    Badri said that "speculative activity without doubt was instrumental in this strange occurrence of crisis and emergency," noting that "the decline in current prices was a test for all producers and investors."

    Badri said that "low oil prices mean less revenue for producers and thus cause less revenue in the preparation of austere budgets, and that despite the conviction OPEC that prices will recover without doubt, as has already happened in recent times, but it is clear that the industry is currently experiencing radical changes At the global level. "

    Badri pointed to "a number of negative consequences during the last period due to lower prices, most notably the abolition of a number of projects or postponed along with the revision of investment plans, and reduce costs."

    He stressed Badri "the need to recognize the current realities in the oil market, most notably the occurrence of variables, where is the current stage of the most difficult times experienced by the industry, so you have to realize that it can do a lot if focused on the balanced interest between the current status of the industry and what we can do in the future and ways of development of this vital industry, for example, must intensify our efforts to come up with new ways to reduce costs and achieve more efficient work in practice. "

    Badri pointed to "the importance of enhancing cooperation between national oil companies and international oil companies and with service companies for joint cooperation and exchange of views on the best ways to ensure a more prosperous future for the industry."

    Badri warned "the need to maintain R & D initiatives and the continued development of technologies that can help in the discovery, extraction and production of oil and gas reserves in a more cost-effective and sustainable development."

    Badri said that "for producers may be useful to exploit the drop in oil prices to create incentives to use energy more efficiently and implement policies based on the diversification of energy sources."

    He focused Badri "the need to be concerned stakeholders in the industry to the future vision of the evolution of the market," adding that "it is expected that the demand for energy rises by 60 per cent by 2040, with fossil fuels remain a central component in the global energy mix."

    Badri said that "the world will need more oil investments, especially in the Middle East and North Africa, which will continue to be a major center for oil investments," asserting that "oil investments you need the market is estimated at ten trillion dollars between now and 2040".

    Badri said that "the global demand for oil will increase the value of 21 million barrels per day in 2040 to hit 111 million barrels a day and that 75% of the growth in demand will come from Asia and the Middle East will continue to be the main supplier of oil and gas to Asia."

    Badri said that "in spite of these statistics, it can not predict the future accurately and history proved the past nine months, the best proof of this is true," pointing to "the need to be stakeholders in the market developed the ability to cope with the changes and challenges in the coming years." .

    Badri pointed out that "next market developments must study well a range of factors, mainly the potential impact of the negotiations of the United Nations on climate change and the role of financial markets and speculation in the oil market and energy policies in some consuming countries and bottlenecks workforce and how advances in technology and high production costs."

    Badri said that "it is clear that there are tremendous opportunities for the growth of the industry despite the recent volatility and the current uncertainty, but it is without doubt the industry has a long-term positive vision for the future." Ended 21 / l
    Last edited by pinkadonai1; 04-26-2015 at 04:44 PM.

  6. #6

    Re: The Dinar Daily, Sunday April 26

    Sunnis vs. Shiites
    In fact, they have not been fighting each other for centuries

    By Nick Danforth - It’s tempting to explain the seemingly endless Middle East strife in sectarian terms. In Iraq, for example, it’s Sunni extremists vs. Shiite moderates. In Syria, it’s Shiite President Bashar Assad vs. Sunni rebels. And in Yemen, it’s a proxy war between Sunni Saudi Arabia and Shiite Iran. Some observers even suggest that the region is on the verge of an epic religious conflagration like the Thirty Years’ War that tore Protestant and Catholic Europe apart in the 1600s.

    By this telling, Sunnis and Shiites have been locked in a vicious, intractable conflict since the seventh century, when a disagreement broke out over who should succeed Muhammad. Shiites backed the prophet’s cousin Ali; Sunnis backed his trusted adviser Abu Bakr. This scuffle culminated in the historic defeat of Ali’s family at the battle of Karbala, circa 680. As the story goes, the sects have been killing each other ever since — and will continue to do so until they stop obsessing over ancient history.

    Perhaps the biggest problem with this historical narrative is that it ignores everything that happened between 680 and, say, 1980. Op-eds about the “ancient” and “age-old” Sunni-Shiite warfare rarely reference this crucial 13-century period — a.k.a. the entire time during which Sunnis and Shiites were supposedly in conflict. Like everywhere in the world, people in the region were definitely fighting during this time. Historians could even provide a couple good examples of battles along Sunni-Shiite lines. But sectarian identity was seldom the chief issue that brought people in the Middle East to war.

    In part, that’s because sectarian labels were once more fluid, shifting in response to political circumstances rather than existing as fixed identities. Shiism, for example, often served less as a creed and more as a set of arguments available to those seeking grounds on which to challenge their rulers. It’s a distinction nicely captured in the language of the scholar Marshall Hodgson, who, in the 1950s, wrote not only about Shiites but also the “Shiitically inclined.”

    Consider, for instance, the ninth-century Abbasid Dynasty (based in modern-day Iraq), celebrated for cultural contributions such as “The Arabian Nights” and the number zero. Historical accounts treat the dynasty as the most famous Sunni caliphate in Islamic history. But when the first Abbasid caliph seized power, he was challenging another Sunni dynasty, the Umayyads. In doing so, his propaganda championed a Shiite belief — that Islam’s leadership belonged to those, like him, who were more closely related to Muhammad. Thus, the noted scholar Bernard Lewis declared the Abbasids’ victory over the Umayyads a “resounding success” for Shiism, adding that Shiite doctrines at the time “differed to no great extent from those of Sunni Islam.”

    But after claiming the Shiite mantle in revolt, the Abbasids defended Sunni orthodoxy against Shiite groups rising in revolt against them. And when, a century later, the Abbasid caliphate fell to a Shiite dynasty, the revolutionaries were content to keep a line of Sunni caliphs in power as figureheads.

    In time, doctrines and counter-doctrines were increasingly codified by Sunni and Shiite theologians. But even today, these identities are seldom the all-consuming markers of political allegiance that extremists on both sides would have us believe.

    In the 1980s, many Shiites fought loyally for Saddam Hussein against Shiite Iran. Likewise in Syria, many Sunni businessmen initially supported the Shiite Alawite Assad regime, to which they owed much of their wealth. Meanwhile, many democratically minded Shiite Alawites joined the opposition in calling for an end to Assad’s authoritarian rule. And of course, for families happily formed from across sectarian lines, the irrelevance of these identities is as much personal as it is political.

    The point of this history is not that a present-day eruption of sectarian warfare is impossible. It really is a possibility — not because of anything that happened 1,000 years ago, but rather because of how people today explain what happened 1,000 years ago. And sadly, when people start insisting, against all evidence, that they have been constantly at war for 13 centuries, that’s almost always a dangerous sign.

    Rather than framing their struggle in political terms, sectarian groups like the Islamic State are framing it in purely religious language. Religiously motivated anti-Assad rebels, for example, denounce the president’s supporters not as advocates of a despotic, violent regime, but as Shiite infidels. And some Shiites inevitably explain the Islamic State not as a home-grown terrorist organization, but rather as the latest manifestation of the Sunni tyranny they have endured for more than a millennium. To give substance to these claims, some civilians even trace details of Syria’s conflict back to the wars of the Umayyad Dynasty.

    Recent relations between Sunni Turkey and Shiite Iran provide an excellent example of just how quickly history can be rewritten to serve contemporary politics. Since the two countries became involved on opposite sides of the Syrian civil war, articles about their relations have often mentioned that they have been rivals since the 16th century. And the Ottoman-Safavid wars of that period certainly are an excellent historical example of a conflict that, for all its geopolitical motives, relied heavily on sectarian rhetoric. But the past few centuries of Ottoman-Safavid relations looked totally different just a decade ago.

    In 2006, Turkey and Iran were rapidly improving bilateral relations, signing trade deals and coordinating efforts against Kurdish separatism. Both governments used nonsectarian rhetoric to emphasize their shared values and regularly spoke of the long history of Turkish-Iranian harmony. It fell to historians to challenge the widely accepted claim that Turkey and Iran had neither fought nor changed their border since the Ottomans and the Safavids signed a peace treaty in 1639.

    So as Turkey and Iran try to improve their relations once again, have the two countries been enemies or friends this whole time? A bit of both, obviously. The most recent full-fledged war between these dominant Sunni and Shiite states ended in 1823. Meaning that, measured purely in terms of years since the last actual war, the Turkish-Iranian rivalry is historically on par with our country’s rivalry with Britain (conclusion of last war: 1815) or Britain’s rivalry with France (also 1815).

    Over the past decade, extremists have dedicated themselves to reducing the region’s complex identities to a simple Sunni vs. Shiite divide. It’s an invented history. But, unfortunately, in these efforts success tends to breed success, and sectarian narratives quickly become self-fulfilling.

    Imagine how easily a liberal Shiite Alawite who hated Assad might conclude, after hearing rebels extol their commitment to killing Alawites, that his own survival was tied to the dictator’s. Cases like these are a depressing reminder that those who peddle bad history as an excuse for killing each other too often succeed.

    Nick Danforth is a doctoral candidate in Turkish history at Georgetown University. He wrote this for The Washington Post.
    Last edited by pinkadonai1; 04-26-2015 at 04:46 PM.

  7. #7

    Re: The Dinar Daily, Sunday April 26

    Dentex calls for the support of the private sector in the implementation of investment projects

    The head of the Baghdad Provincial Council Riad dentex, Sunday, to support the private sector and involvement in the development process and the creation of the fact that partnerships between him and the public sector in line with the Federal Government directives and calls for the Prime Minister to engage the private sector to strengthen the Iraqi economy.

    He dentex during his participation in the discussion seminar hosted by the investment and reconstruction Development Center, according to a statement his office received by the agency / information / copy it, that "the private sector is of great importance in the work of the local Baghdad government and works council to provide support and backing to this sector and work on the implementation of investment projects which, because of the advantage of its accuracy in implementation. "

    He stressed dentex "the importance of personnel door for investment projects in the budgets of ministries and federal governments and open the door of investment for the private sector to be a partner to the public sector and contribute to the events of a comprehensive economic development."

    He dentex that "the lack of financial allocations in the federal budget for this year impact significantly on the size of the implemented projects and the size of investment and led to the lack of development of new projects and ongoing projects sufficiency. " Finishedالعضاض-يدعو-لدعم-القطاع-الخاص-في-
    Last edited by pinkadonai1; 04-26-2015 at 04:47 PM.

  8. #8

    Re: The Dinar Daily, Sunday April 26

    Abdul-Mahdi, confirms the region's oil export via the company "Sumo"

    Oil Minister Adel Abdul-Mahdi, Sunday, that the output of wells and fields of Kurdistan is exported via the central government and the gate SOMO, said Abdul-Mahdi said in a statement received by the agency / information / copy of it, "some who attacked agreement with the Kurdistan region, examine themselves after check a lot of positive results, the correct decisions sometimes requires action against the tide and take bold positions. "
    He added that he "is currently exporting increasing amounts of production of the region through the company" Sumo ", as the Kirkuk fields of production and export returned after stalled since March 2014 because of the terrorist acts. "

    Explained Abdul-Mahdi, that "every paragraph of the success factors, still face shortcomings and gaps to be completed, as well as we continue to face challenges in the other things we have not covered, if we want the oil and gas industry to develop and build our refineries and our labs petrochemical and fertilizer. "
    He pointed out that "Iraq is in front of him is a great opportunity for progress, and lower oil prices all damages, should motivate us to rationalize our expenses, and out of the state and society Alrieian about contemporary state and fair society and good product levies." Finished / 25 Qعبد-المهدي-يؤكد-تصدير-نفط-الإقليم-
    Last edited by pinkadonai1; 04-26-2015 at 04:49 PM.

  9. #9

    Re: The Dinar Daily, Sunday April 26

    Shahristani calls for the private sector to contribute to the provision of jobs for graduates

    Student, Minister of Higher Education and Scientific Research, Hussain al-Shahristani, Sunday, companies and institutions and the private sector to contribute to the provision of jobs for graduates.

    A statement of the University of Baghdad, received by the agency / information / copy of it from the al-Shahristani said during the opening exhibition second jobs, set up by the Centre Rehabilitation and Employment at the University of Baghdad in conjunction with the anniversary of the founding of the fifty-eighth the university, said, "This exhibition is a great and unique experience set up by the University of Baghdad in collaboration with leading institutions and companies from the private sector, so as to promote the economic reality by creating a mechanism for cooperation with state institutions and sectors in order to employment, rehabilitation and training . "

    He added, "We seek through our communication with the public and private sectors to find suitable jobs for our students and our graduates dear after graduation, which can not be achieved only Ptzafar efforts from all sides and not the responsibility of the Ministry of Higher Education and Scientific Research only."

    He called al-Shahristani, all companies and institutions the private sector to "provide the functionality of all disciplines for graduates and employment to suit their specialty," stressing that "the Iraqi economy can not stand up and with the private sector as these companies and institutions sober did not take its rightful place in the investment of university graduates."

    For his part, the director of studies, planning and follow-up department at the University of Baghdad and the supervisor of the Rehabilitation and Employment Center, Samer Mubarak that "this exhibition is the second hosted by the center, especially after last year's residence and in which we managed to provide more than 250 jobs and 150 training opportunities work for students and graduates, and continued to experiment to resume their success this year with the aim communication between graduates and the labor market through what you ask these companies and institutions of the professional capabilities of the students and graduates of the private sector. " Finished / 25الشهرستاني-يطالب-القطاع-الخاص-بالمساهمة-في-
    Last edited by pinkadonai1; 04-26-2015 at 04:50 PM.

  10. #10

    Re: The Dinar Daily, Sunday April 26

    Parliamentary Finance form a committee to investigate the smuggling of $ 312 billion in oil revenues

    The parliamentary finance committee revealed, Sunday, for the formation of a committee to investigate the smuggling of about $ 312 billion in oil revenues out of Iraq over the past ten years.

    The committee member said Masood Haider told / information /, "The Finance Committee formed a committee to investigate and follow up and gather facts to prepare a detailed report and complete and submit to the Presidency of the Parliament to take legal action and to hold the defendants. "

    He noted that "the Commission embarked on an a number of meetings with the Central Bank to collect information," noting that "the subject needs the cooperation of all officials in the Iraqi state."

    He said Haider, "it was converting the amount of money through money laundering and then transferred to the outside as well as financial transfers and bond claim the purchase and import of materials into Iraq with forged papers by fraud" .المالية-النيابية-تشكل-لجنة-للتحقيق-في-
    Last edited by pinkadonai1; 04-26-2015 at 04:52 PM.

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