The Dinar Daily, Monday May 25, 2015
Page 1 of 24 12311 ... LastLast
Results 1 to 10 of 237

Thread: The Dinar Daily, Monday May 25, 2015


    
  1. #1

    The Dinar Daily, Monday May 25, 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 1301.722 1301.072
    British pound GBP 1824.207 1823.295
    Canadian dollar CAD 948.893 948.419
    Swiss franc CHF 1253.224 1252.598
    Swedish krona SEK 140.843 140.773
    Norwegian krone NOK 154.718 154.640
    Danish krone DKK 174.572 174.485
    Japanese yen JPY 9.633 9.628
    Special
    Drawing Rights
    SDR 1640.480 1639.660

    Indicative rates - (as of) 25.5.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2955 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 21/05/2015 and the results were as follows:

    DETAILS NOTES
    Number of banks 17
    Number of remittance companies 0
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 157,654,606
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 157,654,606
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 05-26-2015 at 11:14 AM.



  2. #2

    Re: The Dinar Daily, Monday May 25, 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, Monday May 25, 2015

    Abadi: We will liberate through the gray days and Carter got the wrong information



    Long-Presse / Baghdad He favored the Prime Minister Haider al-Abadi, on Monday, freeing the city of Ramadi (110) west of Baghdad from the control of the organization Daash within days, as expressed surprise at the US Defense Secretary Ashton Carter's remarks on the unwillingness of the Iraqi forces to fight and confirmed receiving the wrong information, stressed the importance of control of the Iraqi-Syrian border to cut off supplies (Daash).

    Ebadi said in an interview with the radio station, the BBC and British television and I followed (range Press) "It is possible to edit gray city from the control of the organization Daash within days", adding that "the fall of the gray bloodiest my heart."

    Abadi added that "Iraqi forces have had the will to fight, but when he met with a surprise attack from (Daash) which used wheels booby-trapped vehicles and the effect on them as a small nuclear bomb, and he was very bad at our troops surprised attacks tactical organization," stressing that "after the publication of the crowd forces People in the region to stop the creep (Daash) I'm confident of the possibility of recovery of gray. "

    He was surprised Abadi from "US Defense Secretary Ashton Carter's remarks in which he said, that the incident of the fall of Ramadi showed that Iraqi forces do not have the desire to fight," noting that "Carter was a strong supporter of Iraq, and I'm sure he was influenced by erroneous information and its relevance."

    On the other hand stressed Abadi on the importance of controlling the Iraqi-Syrian border to cut off supplies (Daash) as the lack of control at the border is wrong and provides easy strengthen the forces (Daash) the arrival of militants from inside Syria, "adding that" Iraq demanded from its partners in the international coalition and they insist that keep tabs on their control of the border crossings with Syria. "

    And between the Prime Minister said that "Iraq needs greater international attribution as the organization Daash enhances its strength through the infiltration of militants from Syria to Iraq."

    The US Secretary of Defense Ashton Carter count, on Sunday, takeover regulation (Daash) on the city of Ramadi, an indication that the Iraqi forces "do not have the will to fight," While defended the air strikes by the United States waged against the organization, he said it is not a substitute for Iraqi forces that defend their homeland.

    It is said that Anbar Provincial Council confirmed on Monday that the liberation of the city of Ramadi operations, (110 km) west of Baghdad has not yet been released, as pointed out that the province, "waiting for an end to military preparations to start the process."

    The Anbar management, announced that, in (the 15th of May current), the control of the organization (Daash) on the government complex in downtown Ramadi, the provincial capital, (110 km west of Baghdad), and carried the responsibility for that security authorities.

    The organization (Daash) controls the most important and prominent cities of Anbar almost a year ago on the events and battles and confrontations between security and tribal forces and highlighted the areas that are under the control of the organization is Fallujah and Qaim border between Iraq and Syria, Hit, Rawa and other ways, including near the borders of the capital, Baghdad vine Fallujah .


    http://www.almadapress.com/ar/news/49043/%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A--%D8%B3%D9%86%D8%AD%D8%B1%D8%B1-%D8%A7%D9%84%D8%B1%D9%85%D8%A7%D8%AF%D9%8A-%D8%AE%D9%84%D8%A7%D9%84-%D8%A3%D9%8A%D8%A7%D9%85-%D9%88%D9%83

  4. #4
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Services in the parliamentary member attribute the reluctance of enterprises to exchange money delay



    [Baghdad - where] Attributed the member of the parliamentary Alakhaddmat and investment reluctance of service projects in the capital Baghdad money exchange delay.

    And between Hussein al-Maliki told all of Iraq [where] that "his committee studied the subject of the reluctance of the project is very large and show that the real reasons behind it is to delay the exchange allocated to contractors amounts."

    Maliki said that "the committee addressed the Ministry of Finance and Uadtna regardless of the investment budget to the provinces during this month what except Batch, noting that "in the event of the arrival of the money will be carried out all the projects lagging."

    It is said that a lot of projects in the capital Baghdad and the provinces are still lagging behind other and he attributes to the lack of funds allocated to exchange Allehaaota in light of the financial crisis gripping the Albulad.anthy

    alliraqnews.com

  5. #5
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Masoudi calls for the provision of financial and legal protection for the private sector



    BAGHDAD / ... called MP from the Bloc citizen Mohammed al-Masoudi, Monday, to provide financial and legal protection for the private sector to promote him and Iraq can emerge from the current economic crisis.

    He said al-Masoudi in a statement received "eye Iraq News," that "the Iraqi economy will not recover from the crisis experienced by now due to the fall in world oil prices unless stimulate the private sector and promote and provide financial and legal protection has to be helping the government of the economy and contribute to the revitalization of the local market and moving the operation of the labor market and unemployment among young people scattered in abundance. "

    He added that "the Iraqi government to provide financial and bank guarantees enactment of the Protection of National Industry Act, and amend the Iraqi labor law provides guarantees for Walid Iraqi working for the owner," stressing that "this matter will contribute to the recovery of the domestic market and adequate to move the work of investment", adding that "The last opinion polls and studies confirm the high unemployment rate to more than 55% among young people under the age of 25 years."

    He added that "There are indications confirm a loss or close more than (45%) of small and medium businesses in the private sector for several reasons come in the forefront of the security situation and draws young people and labor to fight in addition to the economic recession and low consumer confidence in general economic-policy which requires rapid intervention." .

    He pointed out that "Parliament is working on issuing a bold and important decisions in this matter will have far-reaching consequences on the private sector and the Iraqi economy," .anthy 1

    aynaliraqnews.com

  6. #6
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Planning instruct the financial securing two trillion dinars to reimburse companies and contractors



    BAGHDAD / Baghdadi News / ... The Ministry of Planning, on Monday, for Ayaazha the Ministry of Finance to secure the amount of two trillion dinars to reimburse companies and contractors, noting that the amounts due and payable. He said ministry spokesman Abdul Zahra al-Hindawi, in an interview with / Baghdadi News / The "Planning Minister Salman Jumaili instructed the Ministry of Finance, today, to secure the amount of two trillion dinars to reimburse companies and contractors."

    He said al-Hindawi, that "these amounts are payable to contractors and contracting companies as the Aldhirat completed."

    It is said that, the Council of Ministers face, at its 14th session in 04/07/2015, ministries and state institutions all negotiations with contractors and companies implementing the projects the state a higher ceiling not to exceed two billion dollars, that his priorities developed in coordination with the Ministries of Planning and Finance to secure the necessary funds for Using payment on credit or any other means available to borrow, Order on credit in coordination with the ministry or the concerned party. It ended 21 / b

    albaghdadianews.com

  7. #7
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Jubouri meets committees and parliamentary blocs to exit formats final of the laws of the National Guard and the parties and the Federal Court



    25.5.2015 1:35 p.m.

    26 visits readable

    {Baghdad: Euphrates News} convene Parliament Speaker Salim al-Jubouri on Monday, meeting with the heads of parliamentary committees and blocks out the final formats of the laws of the National Guard and the parties and the Federal Court.

    According to the Legal Committee member Salim Shawki told {Euphrates News} that "al-Jubouri met with the heads of parliamentary committees, including the defense and legal security in the presence of the heads of blocs to discuss the Federal Court Act and the parties and the National Guard and the need to exit formats final of the laws mentioned and voted on in the coming sessions."

    He added that "the meeting It will try to overcome the difficulties generally those laws and vote on them in the coming sessions of Parliament "and .anthy

    alforatnews.com

  8. #8
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Iraq signs with Japan's finance two projects Tnmoin diary



    25.5.2015 2:06 p.m.

    14 visits readable

    {Baghdad: Euphrates News} signed by Finance Minister Hoshyar Zebari and Canshuquih Nagaaka based Japanese charge d'affaires in Iraq, notes and minutes of discussions on the financing of two projects Tnmoin of the Japanese loan projects in a private ceremony took place at the headquarters of the Ministry of Finance today.

    A statement by the Ministry of Finance received by the agency {Euphrates News} a copy of it today, "the Japanese loan includes funding for two projects the first two investments reconstruction of the electricity sector, the equivalent of $ 450 million and the second to fund sewer reconstruction in the city of Erbil, the equivalent of $ 285 million."

    The two projects represent respectively 22 -23 in the overall funding of the Japanese loan projects, and after the signing of the two documents and the Minister of Finance and Japanese-based Macs held a press conference attended by a number of news agencies and satellite channels .anthy

    alforatnews.com

  9. #9
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Planning instruct the financial securing two trillion dinars to reimburse companies and contractors



    By Mohammed Emad

    05/25/2015 1:25 a.m.

    Views: 73

    Brother - Baghdad: Instructed the Ministry of Planning, on Monday, the Ministry of Finance to secure two trillion dinars to reimburse companies and contractors. He said ministry spokesman Abdul Zahra al-Hindawi said that "Planning Minister Salman Jumaili instructed the Ministry of Finance, today, to secure the amount of two trillion dinars to reimburse companies and contractors." He said al-Hindawi, that "the amounts are payable to contractors and contracting companies as the Aldhirat completed."

    It is noteworthy that Iraq suffers from a major financial crisis during the current year 2015 to a deficit in its budget of 25 trillion dinars due to lower international oil prices, while most ministries announced stop new projects because of the lack of allocations for the investment budget, while the Ministry of Finance demanded all of the secretariat of Baghdad and electricity and other service ministries to activate the collection to finance its business.

    khabaar.net

  10. #10
    Moderator Loopback's Avatar
    Join Date
    Oct 2014
    Location
    Bora Bora
    Posts
    7,704

    Re: The Dinar Daily, Monday May 25, 2015

    Open financial banks in Khalidiya and Habbaniyah instead of gray



    May 25, 2015

    Views: 22 views

    BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - Anbar Provincial Council member waterfall Halbusi said that the local government has opened banks in the district of Khalidiya and Habbaniyah alternative for banks located in the city of Ramadi.

    He Halbusi's (IMN) that "the local government of the province, and in cooperation with the government, emptied all the banks in the city of Ramadi financial contents before entering the terrorist Daash gangs to it", pointing out that he "has been opened alternative banks in Khalidiya and Habbaniyah."

    He explained that "the local government put the accounts the recent terrorist attacks that have taken place in the city of Ramadi, which led to the discharge of all its banks for fear of theft by terrorist groups."

    He announced Anbar Provincial Council earlier, the terrorist Daash gangs looted all the contents of the circles and most of the homes of the city of Ramadi and transferred to Syria.

    From: Mustafa al-Araji, edit: Charter Shafiq, Posted: Dreams Jaddah

    center-imn.net

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •