The Dinar Daily, Thursday May 21, 2015
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  1. #1

    The Dinar Daily, Thursday May 21, 2015

    CENTRAL BANK OF IRAQ

    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000


    CURRENCY CODE SELL BUY
    US dollar USD 1166.000 1164.000
    Euro EUR 1296.359 1295.711
    British pound GBP 1809.749 1808.844
    Canadian dollar CAD 954.799 954.321
    Swiss franc CHF 1241.350 1240.729
    Swedish krona SEK 139.005 138.935
    Norwegian krone NOK 154.374 154.297
    Danish krone DKK 173.778 173.691
    Japanese yen JPY 9.647 9.642
    Special
    Drawing Rights
    SDR 1634.172 1633.355

    Indicative rates - (as of) 21.5.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2953 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 19/05/2015 and the results were as follows:

    DETAILS NOTES
    Number of banks 17
    Number of remittance companies 5
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 142,835,000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 142,835,000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-22-2015 at 11:06 AM.



  2. #2

    Re: The Dinar Daily, Thursday May 21, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts

    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK

    Crush Expected When Kuwaiti Banks Reopen Today

    March 24, 1991|From Reuters



    KUWAIT CITY, Kuwait — Thousands of Kuwaitis are expected to jam the country's banks today when they open for the first time since the end of the Iraqi occupation.

    Customers will be allowed to withdraw funds and to swap pre-invasion money for a new currency issued to make more than $1 billion in pre-invasion dinars stolen by the Iraqis worthless.

    "We expect a rush of people," said Issam Asousi, an executive with the Bank of Kuwait. He said it could be a chaotic first week because customers have a lot of questions about their accounts.

    Kuwaiti banks continued operating during the seven-month Iraqi occupation under managers brought in from Iraq, but they have been closed since the U.S.-led alliance ousted the Iraqi army from Kuwait a month ago.

    When the banks reopen today, customers will be able to withdraw up to 4,000 Kuwaiti dinars, equivalent to about $14,000 at pre-invasion exchange rates from their accounts, and to exchange a like amount for foreign currency.

    Balances of customers' accounts will go back to what they were on Aug. 1, a day before the invasion.

    Clients will not be able to exchange Iraqi currency issued during the occupation, when Baghdad pegged the rates of the strong Kuwaiti dinar to the far less valuable Iraqi dinar.

    The new Kuwaiti money will be exchanged for old at a one-to-one rate.

    http://articles.latimes.com/1991-03-..._kuwaiti-banks


    BGG ~ Thanks to wmawhite for some facts on the subject.

    Hi BGG,

    Just thought I would drop you an email. I listened to the call, and was interested in what was said about Kuwait, if I may - I will add my 2 cents worth.

    You were spot on with what you said, I have a close friend who's father made a killing on the KWD. He bought from people who had fled the country and he paid pennies on the dollar (we are in Australia). He took the chance that Iraq would be kicked back out and he was right.

    When the money was reinstated, he exchanged it for AUD at a rate in the mid 3s. The interesting thing about it is, Iraq invaded in November 1990 (I think), they were kicked back out at the end of Feb 1991, the banks reopened with a brand new KWD in late March, that's not a bad time frame to get a currency designed, printed and made ready to use, also the time that the old KWD was valid was initially only for 2 months, then extended to 6, so it was valid until Sept 1991, interesting I think.

    Also the other thing that seems to be a "fact" in Dinar land is Bill Clinton used the Kuwait RV to pay off the debt. However, Clinton was not President in 91, he did not take office until 93, even I know that and I am an Aussie.

    Anyway thanks for the site and enjoy listening to your calls.

    Kind Regards,
    Kevin

  3. #3

    Re: The Dinar Daily, Thursday May 21, 2015

    Calls for the law punishes offenders People for the crowd



    BAGHDAD / Obelisk: All political, tribal, religious and popular forces in support induction and assign the crowd to continue the popular victories entire regions and edit. He called on the Presidency of the Council of Representatives member Hamoudi competent committees to expedite the enactment of a law guaranteeing the legislation under which the punishment for each of the direct harms the Mujahideen of the popular crowd as an official national institution has made significant achievements in difficult circumstances.

    Hamoudi promised to offend the popular crowd and they are fighting against honor Daash terrorist gangs fighting as the first service of the enemy of the Iraqi people, and pour in the interest of national unity confirmed by the sons of the crowd in their willingness to go to battle every inch of Iraq.

    He added that "all the political and tribal, religious and popular forces in support induction and assign the crowd to continue the popular victories areas and full liberalization under the control of terrorist gangs".

    And between Hamoudi that promote genuine national unity is through cohesion between all the components of the people in the front yard and in the field, blood and epics edit Anbar will be the triumph of national unity address.

    http://translate.google.com/translate?depth=2&hl=en&prev=search&rurl=translate.google.com&sandbox=0&sl=ar&u=http://www.faceiraq.com/inews.php%3Fid%3D3791643

  4. #4

    Re: The Dinar Daily, Thursday May 21, 2015

    Deputy for the powers: activate the private sector will spend on unemployment



    Baghdad:{ Euphrates News} called MP from the Union of Forces Zahid Katuna to the necessity of activating the private sector; to eliminate unemployment in the country.

    Said Katuna told {Euphrates News} today, "The activation of the private sector will help ease the burden on the public sector and serve the country."

    He noted that the "private sector support and legislation laws played by would run the largest number of unemployed; because the government sector a shrug accommodate young Hola and appointment. "

    It was Mr. Ammar Hakim, head of the Supreme Islamic Iraqi Council called for the necessity of activating the role of the private sector and the attention to the investment in a realistic way, referring to the importance of benefiting from the economic slide, in order to speed up the submission of projects that serve the citizen, and the prime minister Haider al-Abadi the face of the need to activate the investment side in the provinces and create jobs.

    http://wwww.alforatnews.com/modules/news/article.php?storyid=85188

  5. #5

    Re: The Dinar Daily, Thursday May 21, 2015

    Thirdly security forces repel attack for "Daash" east of Ramadi



    Khandan - foiled Iraqi security forces, trying for a third organization "Daash" terrorist to break through the lines of defense east of the city of Ramadi.

    The security forces exchanged mortar and sniper fire with terrorists "Daash" last night along the new front line in eastern Husaybah, which is located almost halfway between Ramadi, the base of Habbaniyah.

    The Reuters news agency quoted an officer at the police as saying, "trying to Daash desperately to penetrate our defenses but this is currently impossible."

    He said the officer "absorbed the shock and went further reinforcements to the front. tried through the night to penetrate our defenses, but failed. Military helicopters were waiting for them. "

    http://www.xendan.org/arabic/drejaa.aspx?=hewal&jmara=12636&Jor=2

  6. #6

    Re: The Dinar Daily, Thursday May 21, 2015

    Abadi meet with the heads of three major Russian companies for oil and gas



    Khandan - Iraqi Prime Minister Haider al-Abadi met in the framework of his visit to Russia with the heads of three major Russian companies for oil and gas.

    The media office of Ebadi said in a brief statement, the Prime Minister Haider al-Abadi, received at his residence in the capital Moscow this morning the heads of three major Russian companies oil and gas.

    The statement noted that companies are (Suboz gas oil sunset) and (Lukoil) and (Gazprom oil), the statement did not give further details about the meeting.

    http://www.xendan.org/arabic/drejaa.aspx?=hewal&jmara=12633&Jor=2

  7. #7
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    Re: The Dinar Daily, Thursday May 21, 2015

    Wide participation in Iraqi banks Beirut forum about mechanisms



    Baghdad ~ / my day: Iraqi banks participated in a forum about Beirut dry up the sources of terrorism and combating the financing of terrorist groups Daash mechanisms. The head of the Iraqi private banks association meek ​​Nuri al-Handal in a press statement, "The meetings of the forum dry up the sources of terrorist financing, which concluded in Beirut two days ago, it is of great importance especially in this stage where the different areas in the region are exposed, primarily Iraq, to terrorism Daash, which calls for the need for concerted efforts to expand the horizons of work direction which serves the goal of countering terrorism. "He explained:" that Iraq had an active contributor in the dialogues held by the Forum over two days, representatives of the Association of Iraqi private banks, as has been discussed a working paper group Financial Action Task Force on Combating the Financing of Daash and terrorist groups, as well as discuss the issue of / know your customer and client customer / according to the degree of risk and verification procedures, as well as how to find out banking operations that can be exploited and the method of monitoring the operations and the movement of money of suspicious and unusual, with the participants in the Forum is keen to identify developments in the international standards to combat money laundering and terrorism financing "He called bitter melon banking sector in Iraq, to show more concern for the FAQ application and work in accordance with international banking laws, especially those related to the monitoring of the movement of financial and bank transfers, control, stressing the great need to apply to the disclosure of systems liquidity and maintaining the validity of the confiscation of funds related to the financing of terrorism and the application of the regulations precautionary related Bha.utaba: "The banks in Iraq dominated the day vigilance and warned the case of very high, because the banking system is one of the arenas war on money laundering and terrorism financing, where most of the Iraqi private banks originated in exceptional circumstances, by the year 2003 and beyond. "and that" the Iraqi Central Bank pays today great importance to the phenomenon of money laundering in the light of the ongoing transformation of the economy of Iraq toward a market economy, where the CBI is working to issue a new law to combat money laundering and create advanced and integrated modules in Iraqi banks to increase the intensification of control ".ofatt to" that Iraqi banks now operating in accordance with modern mechanics and according to international standards to enable them to monitor and follow up the money transferred through it, stressing that "the fight against money laundering crimes and terrorism financing, is to protect the national economy and the soundness of financial, banking and commercial operations, and to all sectors." He explained Handal "The Forum concluded important recommendations are consistent with the provisions of international law concerning the fight against terrorism, which has become everyone senses the risk and its implications for the present and the future of Arab societies, particularly the risks posed for the sectors of the economy and money in the forefront of the banking sector."

    beladitoday.com

  8. #8
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    Re: The Dinar Daily, Thursday May 21, 2015

    Central Bank: the financing of small and medium enterprises and support defaulters aims to promote the reality banking



    Long-Presse / Baghdad: The Central Bank of Iraq, on Thursday, that the amount allocated for the financing of small and medium enterprises trillion dinars, will be allocated for the banks are ready for it to sustain their liquidity and revitalization, and pointed out that it will lend banks that suffer a shortage of liquidity to increase its capital, as decided to accept the properties of some banks that applied for financial loans to increase its capital, counting those actions aimed to promote the reality banking to be consistent with the requirements of the current stage.

    He said the Council of the Iraqi Central Bank board member Majid picture, in an interview to the (long-Presse), "The process of economic development without relying on the budget is the main reason which made the central bank to take a number of decisions, including the financing of small and medium enterprises to domestic banks."

    He added the picture, that "the central bank decided to ask trillion dinars to be used to finance small-scale projects, where it is possible to medium enterprise finance up to $ 250 thousand dollars," noting that "banks that finance these projects, then made a disclosure to the central bank, which is based directly pay amounts for banks in order to perpetuate their liquidity and revitalization. "

    A member of the Board of Management of the Central Bank of Iraq, that "all banks covered by that decision," but he also said, "but not all are willing to finance small and medium projects, so it will be funding on this basis."

    And on the bank's decision to put capable of addressing the situation of some private banks that cash-strapped procedures, said the picture, that "the central bank will grant loans appropriately for banks that suffer a shortage of financial liquidity to increase its capital," pointing out that "the central bank decided to accept the properties of some banks I applied for financial loans to increase its capital. "

    He said the picture, that such "actions carried out by the central bank aims to promote the reality banking to be consistent with the requirements of the current stage."

    The Central Bank of Iraq, the first on Tuesday, (the 19th of May the current 2015), launch trillion dinars for private banks to finance small and medium enterprises loans, and increase the share of dollar sales for banking companies and foreign transfers, and the development of measures to to address the lack of liquidity in some banks.

    The Central Bank of Iraq, revealed in (the 19th of March 2015), the presence of a number of private banks lagging in its work during the last term, while attributing it to non-payment of dues of contractors and clients as a result of "lack of liquidity", vowed to dealers funds with banks Civil lagging through the legal reserve.

    almadapress.com

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    Re: The Dinar Daily, Thursday May 21, 2015

    The opening of the water complex in the district of Essaouira cost of one billion and 665 000 dinars



    {Wasit: Euphrates News} inaugurated governor of Wasit owner behind the valley, on Thursday, water treatment plant project at a cost of 665 000 billion dinars in the district of Essaouira.

    The member of the media department in the Office of the province Taha Rudaini told {Euphrates News} today that "the governor of Wasit owner behind the valley opened the drinking water treatment plant in Essaouira spend in fad Hamad area, where it was created on an area of 750 square meters capacity amounted to 200 cubic meters per hour within regional development projects for 2013. " He stressed that "the station will serve the villages in the fad Hamad and the surrounding area and the number of Nfosha nearly 3,000 people" .anthy 26

    alforatnews.com

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    Re: The Dinar Daily, Thursday May 21, 2015

    Infallible calls for consideration on 21 days of May each year national public reconciliation in Iraq



    {Baghdad: Euphrates News} called on the President of the Republic Fuad Masum, to be considered on 21 May of each year, an annual day of national public reconciliation in Iraq to deepen political dialogue and peaceful coexistence and civil understanding between the people of Iraq and its components all, and stressed that the annual celebration of such a day, "gives us an opportunity to deepen our understanding of the values ​​of cultural and religious diversity and also teaches us how to "live together" better. "

    Masum said in a press statement on the occasion of World Day for Cultural Diversity for Dialogue and Development, the United Nations approved in this day an annual event of civil communication and cultural cooperation between the population and the agency {Euphrates News} received a copy of it today that "this occasion is an important opportunity to launch the energies of civilization in our culture and traditions, and to emphasize that diversity extra creative energy and that differences enrich and strengthen us rather than divide us. " He stressed "the importance that civil society organizations working to spread the culture of tolerance in the Iraqi society and look at our trials and other peoples in this area to devise optimal shape for progress towards the achievement of these actually reconciliation. " He continued, saying that "our shared responsibility for our lives and our interests as Iraqis become double for the defense of the importance of our peaceful coexistence of cultural and religious, sectarian and our understanding of national and our integration given that our shared responsibility is a major engine of economic and social change in this rapidly changing world," stressing "the importance of that civil society organizations working to spread the culture of tolerance in the Iraqi society and look at our trials and other peoples in this area to devise optimal shape for progress towards this reconciliation actually. " He considered infallible "The completion of community reconciliation at the provincial and city level within the framework of national reconciliation General guarantor of the rights of victims actual and based on the principles of the Constitution and the rule of law has become absolutely necessary to be able to face the dangers and complex problems that Iraq faces today, particularly the return of displaced persons to their homes and the reconstruction of areas devastated by terrorism ", stressing that" the Iraqis ability to near victory and complete the terrorist Daash gangs. " He called on the Iraqi people with all its components and social classes to "collaboration and synergy and tolerance," pointing to "the need to develop competencies interaction between cultures and creeds and religions among young people through education in order to learn to work together in the recruitment of diversity and the multiplicity of our languages ​​and our cultures for the development and progress together," he said, adding "the importance to be part of the World Day for Cultural Diversity, which sends a message of peace to communities all over the world that we are a single entity regardless of the differences that arise between us ".anthy

    alforatnews.com

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