The Dinar Daily, Monday April 27, 2015
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  1. #1

    The Dinar Daily, Monday April 27, 2015


    US dollar USD 1166.000 1164.000

    US dollar USD 1166.000 1164.000
    Euro EUR 1262.078 1261.447
    British pound GBP 1762.409 1761.528
    Canadian dollar CAD 958.409 957.929
    Swiss franc CHF 1221.454 1220.843
    Swedish krona SEK 135.578 135.510
    Norwegian krone NOK 148.918 148.844
    Danish krone DKK 169.164 169.080
    Japanese yen JPY 9.757 9.752
    Drawing Rights
    SDR 1616.636 1615.827

    Indicative rates - 27.04.2015

    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 27/04/2015) 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; 04-28-2015 at 09:23 AM.

  2. #2

    Re: The Dinar Daily, Monday April 27, 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


    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,

  3. #3

    Re: The Dinar Daily, Monday April 27, 2015

    ISIS claims responsibility for Trebil bombings

    ( Photos of the suicide bombers as published by social networking sites - On Saturday, the ISIS group claimed responsibility for the suicide bombings that targeted Trebil border between Iraq and Jordan, pointing out that the attack was carried out by suicide bombers from Belgium, France and Senegal.

    Reuters quoted a website that monitors Islamic webpages as saying, “The ISIS group has claimed responsibility for the attack, which was carried by suicide bombers from Belgium, France and Senegal at a border crossing between Iraq and Jordan on Saturday.”

    According to the website, ISIS said that the three attackers were the Belgian Abu Abdullah, the French Abu Bakr and the Senegalese Abu Jaafar; they killed at least 40 soldiers.

    A security source in Anbar province said on Saturday that three bobby-trapped cars driven by suicide bombers targeted Trebil, killing the First Command chief and three soldiers, while the director of al-Walid district and seven of the border guards were injured.
    Last edited by pinkadonai1; 04-27-2015 at 01:13 PM.

  4. #4

    Re: The Dinar Daily, Monday April 27, 2015

    Halabja chemical attack survivors die as Baghdad continues to delay KRG payments

    HALABJA, Kurdistan Region — A list of 24 survivors who lost their entire families shown at the Halabja Monument in 2015. Two survivors of the 1988 Halabja chemical attack have died awaiting long-delayed treatments because of budget cuts by the Iraqi government, raising to 89 the number of initial survivors who have died since 2003.

    The Iraqi government under the Saddam Hussein regime bombarded Halabja with banned chemical weapons on March 16, 1988, which immediately resulted in an estimated 5,000 dead Halabjans and left another 10,000—many who cannot afford costly treatments outside Iraq—injured.

    Haji Mahmud, who was blinded by the attack, died last week. Another survivor, Akram Rashid, died in January from health complications.

    According to the Halabja Chemical Victims Society, there are now 400 attack survivors who need treatment for cancer, respiratory and dermatological problems; 254 of whom need urgent special treatment abroad.

    The Kurdistan region has been struggling with a financial crisis since January 2014 when the Iraqi government cut its budget in opposition to Kurdistan’s independent oil exports. As a result, salaries were delayed, projects put on hold and social and health programs slashed, including the treatment program for Halabja victims funded by the Kurdistan Regional Government.

    Under a Baghdad-Erbil deal struck in December 2014, the Iraqi government is supposed to send the KRG’s budget payments in return for the Kurds exporting 550,000 barrels per day (BPD). The monthly payments are often delayed and have not been enough to cover the KRG’s expenses.

    “The lives of human beings should not be linked to a financial crisis,” the Halabja Chemical Victims Society said in a statement last week. It also called on the KRG and Iraqi government to fulfil their responsibilities to victims.

    The treatment program began in 2005 when the regional government of Carinthia in Austria agreed to cover the treatment costs of eight injured survivors for two weeks. Then the Kurdistani presidency funded the program for 65 injured in 2007 and finally the KRG’s ministry of Martyrs and Anfal Affairs took over responsibility.

    The Iraqi High Criminal Court recognized the Halabja massacre as an act of genocide in March 2010. On April 14, the remembrance day of the Anfal genocide campaign in Kurdistan, the KRG said in a statement that Baghdad should be held accountable for the Kurdish genocide and has “morale and legal obligations” to compensate the survivors.
    Last edited by pinkadonai1; 04-27-2015 at 01:14 PM.

  5. #5

    Re: The Dinar Daily, Monday April 27, 2015

    Dozens of ISIS militants dead from weekend airstrikes

    ERBIL, Kurdistan Region — At least 16 Islamic State militants were killed in the last two days in coalition airstrikes in the mountainous Khazer area 50 kilometers west of Dohuk.

    General Hadi Halabjayi of the 4th Peshmerga Division operating in the area told Rudaw the latest airstrikes began Saturday evening and continued overnight until early Sunday as Peshmerga forces advanced in the area.

    One military source who wished to remain anonymous told Rudaw two coalition aircraft were involved in the airstrikes and strafed ISIS positions in the area over 10 times.

    “We had information that ISIS was preparing an attack, which is why we coordinated with the coalition to pound the tile factory in the area where the militants had taken shelter,” the source said.

    The airstrikes also targeted positions in the villages of Tarzla and Karmles by Zardk Mountains in the Khazer region, sources confirmed to Rudaw.

    Earlier on Saturday, airstrikes targeted ISIS militants in villages close to Makhmour, some 35 kilometers southwest of Erbil.

    Kurdish authorities have in the past accused local Sunni Arab tribes in the ethnically mixed area of harboring ISIS militants.

    Earlier this month, the mayor in Makhmour told Rudaw he feared many of the missing civil servants in the area had joined ISIS to fight Kurdish forces.

    “We know for sure that at least 15 of our teachers have joined Daesh,” Mayor Ibrahim Sheikhallah told Rudaw using Daesh, the Arabic acronym for ISIS. “The principal of a school who joined ISIS was found dead just recently.”

    Authorities say around 500 government employees, mostly of Arab origin, have been missing since August last year when the militants attacked the area. The missing employees worked for the Kurdish Ministries of Religious Affairs and Education, some as teachers, others as civil servants.

    “We are not completely sure if all of them are with Daesh now, but we have a strong suspicion,” Sheikhallah said.

    According to Kurdish authorities ISIS still controls around 40 villages in the Makhmour area. Most of the villages have mixed or predominantly Sunni Arab populations.
    Last edited by pinkadonai1; 04-27-2015 at 01:15 PM.

  6. #6

    Re: The Dinar Daily, Monday April 27, 2015

    Calls for Australian-Iraqi women to be involved in fight against terrorism

    An Iraqi-Australian community group is calling on the Federal Government to involve women in Australia's counterterrorism fight.

    At a meeting in Sydney's south-west, the human rights committee of an the Iraqi Australian University Graduates Forum called for women to be more of a focus both in Australia and abroad.
    The forum said women played a vital role in safeguarding young people from radicalisation.

    Ilham Dawoud, a committee member and one of several speakers, said the Federal Government was always approaching community and religious leaders with mixed results.
    "We should reach the activist women or smaller community groups — they can then reach the wider community," Ms Dawoud said.
    "Sometimes the leaders of larger groups can serve their own agendas."

    Ms Dawoud said the Federal Government needed to look to women in various communities.

    "Engage women in all strategies, policies, implementation and measurement for their counterterrorism ... you can't do it without women's participation," she said.
    The forum's Ahmad Alrubaie said women were perhaps the most affected during the current violence in Iraq.

    "We all are affected directly and indirectly by what's happening but women are probably the most affected with barbaric killings, imprisonment and enslavement," Dr Alrubaie said.
    He said community groups needed to play a major role in countering such terrorism both in Australia and abroad.

    Ms Dawoud said she would also like to see more awareness and education about women joining jihadist groups.
    Last edited by pinkadonai1; 04-27-2015 at 01:16 PM.

  7. #7

    Re: The Dinar Daily, Monday April 27, 2015

    Iraq bombings kill 18

    Militants unleashed a wave of bombings yesterday targeting commercial areas in and around the Iraqi capital, killing at least 18 civilians, officials said, as clashes continued between government forces and Islamic State militants in the western province of Anbar.

    Baghdad sees near-daily bombings mainly targeting security forces and the country’s Shi’ite majority.

    The Islamic State group and other Sunni extremists are believed to be behind the attacks.

    The deadliest attack took place in Baghdad’s Khilani Square, where a car bomb killed at least seven people and wounded 25, a police officer said. The car was parked near a Sunni mosque and a gathering of motorcycle vendors.

    Hours earlier, an explosives-laden car exploded in Mahmoudiya town, about 30km south of Baghdad, killing at least four civilians, another police officer said.
    Last edited by pinkadonai1; 04-27-2015 at 01:18 PM.

  8. #8

    Re: The Dinar Daily, Monday April 27, 2015

    Calls for the repeal of Article 28 of the Banking Act to support the industry and specialize propose a strategy to activate certain sectors

    Long-Presse / Baghdad Called civil Bankers Association, today Alatnine, to issue new legislation to promote its role in the local industry support through their participation or funding, while an economist from the proposal strategy revealed for the advancement of the private industrial sector and enable it to secure at least 10 percent of the gross domestic product, Parliamentary Economic Commission stressed the necessity of activating the national product protection laws, especially as contained within the current year's budget law in 2015.

    Bankers Association calls for legislation to unleash its members

    The executive director of the Association of Banks civil, Ali Tariq, in an interview to the (long-Presse), "The private banks can support the private industrial sector through lending, although affected by the general situation in the country and low deposits," noting that "the private banks lent money to many of small and medium enterprises that do not exceed the value of 250 million dinars. "

    He said Tariq, that "the private banks can enter the laboratories of the partner," adding, "But Article 28 of the Banking Act, constitute an obstacle to it."

    He favored the Executive Director of the Association of private banks, that "the amendment of that article, clearing the way for the participation of private banks and industrial projects or funding," noting that "private banks waiting for new legislation to ensure that the loan will hopefully contribute to facilitate the grant."

    He revealed Tariq, about "the intention of the Central Bank of Iraq, the establishment of credit information center, to facilitate the granting of loans," returned to "The project allows the query on the financial position of any person, whether it was negative indicators, which enhances confidence dealers."

    Experts suggest a strategy to promote the private sector

    For his part, an economist, it is submitted to the Prime Minister's Office, Haider al-Abadi, with a number of other specialists, the strategy to promote the private sector and local industry.

    Said Bassem Jamil Antoine, in an interview to the (long-Presse), "The strategy proposed is different from its predecessors, which remained trapped in the paper were not implemented on the ground," noting that it "laid the foundation for the rules to enhance the contribution of the private sector and national industry, including at least 10 percent of the domestic production (GDP). "

    He continued Antoine, that "the new strategy proposed several measures, including legislation to protect the private industrial sector and activate the product and consumer protection laws, and customs tariffs and anti-dumping, as well as activating the role of the Central Organization for Standardization and Quality Control", pointing out that it "also emphasized the tax exemptions and customs sector private industrial and given soft loans, and the establishment of entanglement between the public and the projects that are meant restructuring of the private sector, and with government and private banks, which owns large amounts of frozen. "

    Promised an economist, that "this requires oriented industries in which raw materials are available locally, especially construction, clothing, milk and dates and soft drinks, to attract funds that invest outside the migratory Iraq capital."

    Parliamentary Economic calling for activating the national product protection laws

    On the other hand, said the President of the Parliamentary Economic Commission, Jawad al-Bolani, in an interview to the (long-Presse), "The circumstances through which the country was born real need to activate the local product and the consumer and customs tariff protection law, to support the national economy and stimulate industrial and agricultural sectors and creating more opportunities for labor local ".

    He said al-Bolani, that "the Commission is following the position of activation of the product and the consumer with relevant ministries and Cabinet Protection Act, especially as it is stated in the Federal Budget Act of the current 2015", expressing his hope that "the implementation of Capricorn those laws before the end of this year in order to ensure the diversification of local income." .

    The Iraqi Central Bank may impose a special program of tax and customs guarantees of goods, while the bankers and economists saw that it came under the guidance of the Council of Ministers to determine the work of traders and keep them away from illegal transactions in foreign currency smuggling.

    The CBI also announced that, in (24 March 2015), for the approval of the Economic Committee of the Council of Ministers on the proposal to accept issued by private banks instruments to pay all taxes and fees without a fixed roof her.

    The representatives of the Iraqi private sector called for in (the ninth of August 2014 the past), the legislation supporting the laws of this sector, and stressed the lack of workers in this sector to "experience and their need for training", while criticizing the way the private industrial sector to deal with projects and places of distribution, Council of Ministers called on the private sector not to fear from entering any investment project to compete with foreign companies and improve the cultural level of the workers in it.

    The National Business Council announced (December 27, 2014), for presenting a working paper to the Economic Committee of the Council of Ministers to support and activate the "private sector" in light of lower oil prices and the financial crisis experienced by the Alarac, and stressed that he aims to be an ally and supporter of the economy Albulad, and as pointed out that the Iraqi economy is suffering "a big blur," It is not a "totalitarian nor free", expressed his willingness to make detailed studies and research for the development of all economic sectors, modernization and advancement.
    Last edited by pinkadonai1; 04-27-2015 at 01:19 PM.

  9. #9

    Re: The Dinar Daily, Monday April 27, 2015

    Government and the Parliament of Kurdistan recommends the formation of several committees meeting and sets 15 days to answer questions on the Minister of Representatives

    Long-Presse / Erbil Announced the Kurdistan region of Iraq's parliament, on Monday, that the meeting of the president of the parliament and the Kurdistan Regional Government has recommended the formation of several committees to convert the districts to the provinces, and confirmed that he committed the Minister to answer questions from parliament within 15 days, while noting that the government demanded that Parliament Ba_i_artha before the legislation of laws which include financial allocations.

    The media spokesman of the Parliament of the Kurdistan region Tariq essence in an interview to the (long-Presse), "The Presidency of the Kurdistan Region Parliament held today, a regular meeting with a delegation from the provincial government, headed by Nechirvan Barzani," noting that "The meeting focused on two important issues, the first commitment of Ministers to answer questions and inquiries parliamentarians during the legal limit set them a 15 days. "

    The essence of "The other issue was into account the economic conditions of the region, where the government has demanded consulted before issuing laws which disbursements material be," pointing out that "it has been discussed calls about converting some districts to projects in the Kurdistan region and decided to recommend the formation of committees this purpose to discuss the possibility of converting those districts to the provinces according to studies and research will be undertaken by the relevant committees. "

    It is noteworthy that the legislative and executive branches in the Kurdistan region held this morning, a regular meeting to discuss several issues of particular laws sent by Parliament to head the government, and many of the questions sent from Parliament to the government.
    Last edited by pinkadonai1; 04-27-2015 at 01:21 PM.

  10. #10

    Re: The Dinar Daily, Monday April 27, 2015

    Abadi: Iraq is not bankrupt and low oil prices, the impact of the country's revenues

    Long-Presse / Karbala The head of the Council of Ministers Haider al-Abadi, said on Monday that Iraq is not bankrupt, and between the decline in oil prices impact on the country's revenues, and as pointed out that "an approved budget," but a few imports, stressed that the Iraqi blood is one and holy.

    Ebadi said during his speech at the coordination meeting of the provinces of non-performing province, which was held in the Great Hall of the complex Durra residential province of Karbala and attended (range Press) that "Iraq is not bankrupt but the problem down oil prices, which has affected the country's revenue," noting that "the budget sanctioned but imports and small amounts of oil exports was not up to what is in the budget bill. "

    Abadi said that "the situation in Iraq requires concerted efforts in all Iraqi provinces, especially as we're in a state of war and financial crisis."

    He said the Prime Minister, "I salute all the provinces that have worked with one hand in the defense of the homeland and the holy places," he said. "This confirms national unity among all Iraqis."

    And between Abadi said "there are instructions ineffective in ministries and there are two interpretations of the laws and regulations by officials in one ministries to facilitate and another for complexity," calling on "everyone to lenient interpretation and facilitate actions that serve the citizen and not hampered by laws and regulations."

    Abadi called "conservatives themselves personally to supervise the work of ministries and departments in the provinces to improve services which must be follow-up staff in these departments," stressing that "no retreat from the transfer of powers because it is the right solution for the management of decentralization in the country."

    The head of the Iraqi Council of Ministers Haider al-Abadi, arrived on Monday, to the city of Karbala to preside over the coordination meeting of the provinces irregular province.

    A senior source in the province of Karbala uncovered, on Sunday, (April 26, 2015), that the Prime Minister Haider al-Abadi visit, on Monday, the province to hold a meeting with the heads of the provincial non-performing councils province to discuss the issue of the transfer of powers to local governments, among the meeting will be held investment in a residential complex under development.

    The Committee on Parliamentary regions threatened (April 19, 2015) by turning to federal court if the federal government's transfer of powers to the provinces have not been applied in the schedule, as indicated that they discussed with the Council of Wasit province, three axes impede the work, said it is keen to deliver the voice of local government to Baghdad.

    It is noteworthy that Article 45 of the second amendment to the Law governorates not organized in the territory of Law No. (21) of 2008 voted by the Parliament in its meeting held in the (23 June 2013), states that "A commission named (the Supreme Commission for Coordination between provinces), headed by the Prime Minister, and the membership of ministers (of Municipalities and Public Works, and Construction and Housing, labor and social affairs, education, health, planning, agriculture, finance, sports and youth) and Minister of State for Provincial Affairs, governors and heads of provincial councils holds the "transfer of sub-circuits and devices and functions and services and functions exercised by those ministries allocated to them with the general budget and staff and staff allocations, to the provinces within the scope of its functions set out in the Constitution and relevant laws gradually and remains the role of ministries in planning policy. %D9%84%D8%B9%D8%B1%D8%A7%D9%82_%D9%84%D9%8A%D8%B3_ %D9%85%D9%81%D9%84%D8%B3%D8%A7%D9%8B_%D9%88%D8%A7% D9%86%D8%AE%D9%81%D8%A7%D8%B6_%D8%A3%D8%B3%D8%B9%D 8%A7%D8%B1_%D8%A7%D9%84%D9%86%D9%81%D8%B7_%D8%A3%D 8%AB%D8%B1_%D9%81%D9%8A_%D8%A5%D9%8A%D8%B1%D8%A7%D 8%AF%D8%A7%D8%AA_%D8%A7%D9%84%D8%A8%D9%84%D8%A7%D8 %AF
    Last edited by pinkadonai1; 04-27-2015 at 01:23 PM.

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