The Dinar Daily, Sunday May 3, 2015

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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	1307.669	1307.015
British pound	GBP	1798.572	1797.772
Canadian dollar	CAD	962.126	961.645
Swiss franc	CHF	1246.126	1245.503
Swedish krona	SEK	140.180	140.110
Norwegian krone	NOK	155.964	155.886
Danish krone	DKK	175.217	175.130
Japanese yen	JPY	9.839	9.834
Special Drawing Rights	SDR	1639.886	1639.066

Indicative rates - (as of) 3.5.2015

https://www.cbi.iq/

Currency Auctions

Announcement No. (2942 - most recent listing)

The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 30/04/2015 and the results were as follows:

DETAILS	NOTES
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$)	133,894,775
Amount purchased at Auction price (US$)	-----
Total offers for buying (US$)	133,894,775
Total offers for selling (US$)	-----

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Economists call for reconsideration of the banking sector to activate the Iraqi economy and attract investment



Long-Presse / Karbala - Counting specialists, economists, on Sunday, that the legislative and financial obstacles highlighted the problems faced by the Iraqi banking sector, while criticizing the conflict of the implementation of the Iraqi Central Bank instructions between private and public banks, called for a reconsideration of the work of this sector and to find capable banking system to attract investment and management of the country's resources.

The director of the Euphrates Center for Development Studies strategy, Khaled Aerada, in an interview to the (long-Presse), said that "the Iraqi banking sector, private and public, are suffering real problems most notably the legislative and financial obstacles", it returned it necessary to "shed light on those barriers and treatment."

He Aerada, that "the proportion of foreign investment in Iraq is low and not exceeding the 2 percent of the total investment," ruling out "the possibility of activating the Iraqi economy and achieve sustainable development without capable of attracting investment and management of the financial resources of the country by about an integrated banking system."

He called on the Director of the Euphrates Center for Development and Strategic Studies, to "re-examine the work of the Iraqi banking sector and find solutions that reduce losses in the current financial crisis in the country."

For its part, Director of the Trade Bank of Iraq in Karbala, Uras Abdel-Nour, in an interview said to (the long-Presse), said that "the Iraqi banking sector suffers conflicts of implementation of the Central Bank of instructions between the private and public sectors", calling for "the unification of work between the banks and the private and public sector systems ".

In addition, said the economist, Ahmed Rehn, said in an interview to the (long-Presse), he said that "the Iraqi banking sector faces caused by the work environment risks, and the limited resources available to credit, as well as other administrative problems," noting that "banks suffer big debts are difficult to be restored increasing the size of the loss and reflect negatively on the interest rates. "

He added Rehn, that "banks independent economic entities councils departments and their capital, and it has to devise effective solutions to their problems and to convince the State by the possible application commensurate with their resources," pointing out that "the state can help in improving the banks conditions and improve their performance."

Meanwhile, the adviser said the National Investment Commission, Abdullah al-Bandar, in an interview to the (long-Presse), "The banking sector suffers many obstacles related to the banks themselves and their boards of directors and shareholders and limitations of the central bank imposed on both private without government".

He revealed al-Bandar, for "having problems legal Balaanaat and complaints from the money that is holding in banks and can not be disposed of," returned to "the banking sector's problems need to be radical solutions will not be identified, only direct meeting between decision-makers and concerned government agencies and the private sector."

He criticized the National Investment Commission adviser, "the Iraqi banking sector failure has led to the reluctance of many investors from entering the local market, and form a negative factor, plus the security and economic problems", calling for the need to "restructure the Iraqi banks."

The bankers and economies, carried in (15 May 2013), the Ministry of Finance and the Central Bank of Iraq responsible for the decline and the reality of local private banks, while the latter accused of encouraging Arab and Iranian banks on the Iraqi account.

The International Monetary Fund said in a report issued in (the 21st of March 2013), that an improvement in the financial sector, but stressed that it still needs to be greater by the central bank in the revision of monetary policy and strengthen banking supervision tools efforts, and to accelerate the restructuring of the banking system .

And the Iraqi banking system consists of 54 banks, including seven state-owned newly established Islamic one, and there are 23 private commercial banks, including Islamic nine. There are also 15 branches of foreign banks, and there are many institutions that do some banking, of which 34 money transfer company, and nearly 200 belonging to the banks foreign exchange company or deal with the banks, with the Loan Guarantee Company and to finance small and medium enterprises, with two companies for services of electronic banking and card Smart, in addition to nearly 800 branches and subsidiary banks spread over Iraqi provinces.

https://www.almadapress.com/ar/news/47922/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D9%8A%D9%88%D 9%86-%D9%8A%D8%AF%D8%B9%D9%88%D9%86-%D9%84%D8%A5%D8%B9%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D9%86%D8%B8%D8%B1-%D8%A8%D8%A7%D9%84%D9%82%D8%B7%D8%A7

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The parliamentary Finance renewed staff ttaminha: no fear on salaries

Tomorrow press Baghdad the parliamentary Finance Committee, confirmed Sunday that he does not fear the staff salaries for this year, calling for the expand non-oil resources.

The Vice-Chairman of the Committee, said Ahmed tracks for "tomorrow," "the Committee when put to the budget law 2015 put odds on low sales prices of oil on the world market and has developed a financial savings as staff salaries for the year 2015".

"The statements of other about payroll stops are only rumors designed to disrupt the work of the Iraqi State and stopped her career", stressing that "the Finance Committee has demanded more than once to activate the non-oil sectors such as industry, agriculture and tourism to support the State budget and its dependence on oil and falling into sin".

https://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Falghadpress.com%2Far%2Fnews%2F30543 %2F%25D8%25A7%25D9%2584%25D9%2585%25D8%25A7%25D9%2 584%25D9%258A%25D8%25A9-%25D8%25A7%25D9%2584%25D8%25A8%25D8%25B1%25D9%2584 %25D9%2585%25D8%25A7%25D9%2586%25D9%258A%25D8%25A9-%25D8%25AA%25D8%25AC%25D8%25AF%25D8%25AF-%25D8%25AA%25D8%25B7%25D9%2585%25D9%258A%25D9%2586 %25D9%2587%25D8%25A7-%25D9%2584%25D9%2584%25D9%2585

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With the participation of 60 companies specialized events Arbil .. launched the fourth exhibition of oil and gas



Baghdad / Baghdadi News / ... launched, on Sunday, the fourth event of Arbil exhibition of oil and gas from the land of Erbil International Fair, with the participation of 60 specialized company .

The Commerce Department said in a statement to her office received / Baghdadi News / , a copy of the " Arbil fourth oil exhibition and gas launched today, on the land of Erbil International Fair with the participation of 60 specialized company, representing 12 countries " , pointing out that he " was organized by the company ( Beramides International ) , in cooperation with the General Company for Trade and commercial services in the ministry " .

The statement added that " the exhibition is one of the successful exhibitions in terms of preparedness and organization and methods of marketing, the volume of participation " .

The opening ceremony was attended by a large number of officials in the province of Kurdistan, including the governor of Erbil and the Under Secretary of oil, in addition to the US commercial attache of the Egyptian and US consuls Egyptian commercial attache and a large number of businessmen . ended 21 n

https://www.kululiraq.com/?p=264705

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Cabinet : recording companies electronically



Baghdad / Baghdadi News / ... said the appearance of Mohammed Saleh, Prime Minister Haider al-Abadi adviser for economic affairs, on Sunday, on the way to the introduction of registration of companies within minutes .

Saleh said in an interview with / Baghdadi News / that " one of the most important impediments to investment in Iraq is to treat the registration of companies, where they take a lot of time owner of the company " .

Saleh added that " the government has set up a project for electronic registration of companies within a period not supposed to exceed 15 ten minutes " .

Saleh pointed out that " the project done at the hands of a silent beehive-governmental cooperation between the Ministry of Commerce and the Federation of Chambers of Commerce and the Presidency of the Council of Ministers and the Ministry of Science and technological as well as other destinations " .

Saleh stressed that " the project will see the light very soon, the only constraint now is a way of closing listed companies, while the company registration process may almost complete " . ended 21 / n

https://www.kululiraq.com/?p=264561

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Anbar appeals to the Board of the Council of Ministers to stop working the new customs tariff

Anbar / Baghdadi News / ... appealed Anbar province, the Office of the Prime Minister to stop the introduction of the new customs tariff on the Trebil border, similar to a number of provinces, attributing the cause to the difficult economic situation as well as ensure that high prices .

He said the province's office in a statement seen / Baghdadi News / it, that " the governor of Anbar Suhaib al-Rawi in the face of 29.04.2015 , book number 11/1556 directed to the Office of the Prime Minister hoped for action to stop the new customs tariff on the Trebil border port in Al-Anbar, like the provinces of Basra, Maysan, Wasit and the Kurdistan region " .

He attributed this to the " difficult economic and living conditions in the province as well as to ensure that rising prices " .

He said the governor's office, said that " appeals reached the governor of Anbar province Suhaib al-Rawi about to stop working in the customs tariff Trebil " . ended 21 / b

https://www.kululiraq.com/?p=264525

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Get the sovereign rating supports the issuance of treasury bonds

BAGHDAD Mustafa al-Hashemi - Declared one of the institutions after four months of receiving a government request:

strengthens the presence of the credit rating of any country in the world to get the funding they want through local or foreign markets, as well as he (credit rating) reduces the cost of borrowing when the state needed to decode the financial Achtnaqatha external debt.

and demonstrated the need for Iraq to speed up winning this category of the three global agencies after Tdharrh of lower world oil prices and their impact on the general budget.

In this regard, Prime Minister Dr. economic adviser said.

The appearance of Mohammed Saleh: that Iraq lacks the sovereign credit rating but bonds issued by to extinguish the Paris Club debt rated close to those countries that have such a rating awarded Iraq.

He said in a statement the “morning” that interest rates and the discount rate on the Iraqi raised bonds earlier approaching the price of some countries that have rated sovereign, pointing out that the classification of Iraq’s credit, although he did not officially yet determined,

Vhually probably at a temperature -B returned him well and cause an indication of optimism, saying: that this place is an official but set the intensity on buying Iraqi bonds raised by accordance with the Paris Club and sold in global markets, amounting to $ 2.7 billion annual steady at 5.8 percent interest.

He stressed that the existence of a sovereign credit rating on the bonds, whatever the degree reduces the interest rate and the discount in the event was put support without credit rating will be a degree of risk high It would therefore be the discount rate the highest.

The credit rating agencies of the three, the Standard & Poor’s, and Moody’s and Fitch, in general risks related to the issuance of debt securities, whether companies or governments to assess and prepare the source’s ability to meet the payment of debt interest and premiums resulting from the most important indicator of creditworthiness built by ratings by these agencies.

He predicted Saleh, said that the credit rating of the Iraq issue within four months of naming one of the agencies and ask them period officially do the job by the government.

He was Finance Minister Hoshyar Zebari said that Iraq was seeking sovereign rating and communicates with rating agencies credit with the ministry is preparing to issue bonds worth five billion dollars needed to cover the budget deficit of 25 percent of the size of the 2015 budget, amounting to about $ 100 billion.

According to Zebari told Reuters: “We started the process. Banks also seek to help us in this direction. “Did Zebari disclose the date on which it is expected to complete the process.

Iraq had announced his intention to issue bonds worth five billion dollars in the first issued in the international bond market nine years ago and is in dire need of liquidity, Observers believe that the Iraq’s oil reserves and huge enjoys a good reputation among countries in the payment of its debts and the implementation of financial obligations able to attract buyers for these bonds.

According to Reuters, the Iraq issue in place of the dollar bonds maturing in 2028 and prompted a wave of selling panicked late last year with the erosion of oil prices, the yield on these bonds to rise to a record high of 10.49 percent from about 7.2 percent in September. But the yield has since tumbled to 8.04 percent.

https://www.alsabaah.iq/ArticleShow.aspx?ID=92187

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PM to Biden: Iraq rejects proposals that weaken its national unity

Baghdad (Forat) – The US Vice-President, Joseph Biden, assured to the Iraqi Prime Minister, Haider al-Abadi that the US military support to Iraq will be according to the request of the Iraqi Government.

A statement by Abadi’s office received by Alforat News Agency cited “Abadi received a phone call from Biden where they discussed the latest updates in Iraq,” noting that “Biden assured that the Iraqi sovereignty and unity will not be affected where the military support to Iraq will be by the request of the Iraqi government.” /End/

Alforatnews.com

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Commission decides to call the fall of Mosul, al-Maliki to parliament today

By Mustafa Curran



Maliki in Parliament

Roudao – Baghdad committee formed to investigate the causes of the fall of the city of Mosul meet, however, of the “Islamic State” Daash, on Saturday, to decide to call former Prime Minister Nuri al-Maliki to the House of Representatives, for questioning on the subject as the commander in chief of the Iraqi armed forces.

He told security and defense committee decision Parliamentary for Kurdish blocs, Hakhuan Abdullah, the semi-Roudao media that “the Commission will be held at one o’clock this afternoon a meeting to discuss internal matters and how to call Nuri al-Maliki for questioning.”

Abdullah said that “the investigation with eminent personalities will be by a vote of members of the Committee, and will be put Today the subject of call Nuri al-Maliki to come before the Committee, and received a full vote Committee has will determine the date for the summons.”

Almhlkh Commission of Inquiry on the reasons for the fall of Mosul, its business and its investigation and began more than five months, and achieved with a lot of security leaders and prominent figures in Aovernmo Iraq, and so far its final report is not complete.

https://rudaw.net/arabic/middleeast/iraq/020520156

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Breaking News Source within Abadi’ office: No armament to be done without Baghdad’s approval

ALFORAT News Agency



Baghdad (AIN) – A source within the office of the Prime Minister, Haider al-Abadi, criticized the support of some politicians to the US Congressional decision over arming the Iraqi Sunni tribes and the Peshmerga forces away from the central government, assuring that no armament to be done without Baghdad’s approval. /End/

Alforatnews.com