The Dinar Daily, Tuesday June 9, 2015
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  1. #1

    The Dinar Daily, Tuesday June 9, 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 1301.489 1300.838
    British pound GBP 1776.634 1775.746
    Canadian dollar CAD 937.676 937.207
    Swiss franc CHF 1240.558 1239.937
    Swedish krona SEK 139.229 139.159
    Norwegian krone NOK 147.444 147.370
    Danish krone DKK 176.886 176.798
    Japanese yen JPY 9.302 9.297
    Special
    Drawing Rights
    SDR 1628.354 1627.540

    Indicative rates - (as of) 09.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2965 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 04/06/2015 and the results were as follows: (no change as of 09/06/2015)

    DETAILS NOTES
    Number of banks 13
    Number of remittance companies 0
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 93,699,500
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 93,699,500
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-10-2015 at 11:11 AM.



  2. #2

    Re: The Dinar Daily, Tuesday June 9, 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, Tuesday June 9, 2015

    Baghdad sent 508 billion dinars for the Kurdistan Peshmerga salaries and staff



    Long-Presse / Sulaymaniyah Ministry of Finance announced in the Kurdistan region, on Monday, from the conversion of Baghdad 508 billion dinars for the region and for the salaries of the Peshmerga staff, while confirming that these funds do not include all of the Kurdistan dues.

    A spokesman for the Ministry of Finance Ahmed Abdul Rahman, in an interview with the media Kurdish I followed (range Press), "The Federal Ministry of Finance has turned 508 billion dinars, today to calculate the Kurdistan Regional Government, including 34 billion special dinars salaries of the Peshmerga, and the remaining amount for the salaries of the Kurdistan Regional staff" .

    The Abdul Rahman, said that "the said amount does not include all the dues of the Kurdistan region of salaries and the budget," noting that "the region is waiting send their dues in full from the federal government."

    The head of the Kurdistan Regional Government Nechirvan Barzani stressed, Sunday, (June 7, 2015) that the people of Kurdistan living conditions "very difficult" and placed psychologically bad for not sending the central government financial budget for the region, as pointed out that the Kurdistan region will be a place to house all those fleeing sons the Iraqi people, the region between the government seeks to resolve all the problems with the government of al-Abadi.

    The Prime Minister of the Kurdistan region Nechirvan Barzani stressed, in (June 4, 2015), seeking provincial Permanent resolve the outstanding problems with Bgdaden through dialogue and understanding, with the central government called for a commitment to the terms of the oil agreement, likely to resort region to other solutions in the case of Baghdad's failure to send dues.

    The central bank in the Kurdistan region, announced, in, (the 11th of May 2015), to send the federal government 543 billion dinars to Erbil financial allocations for last April.

    The President of the Kurdistan region, Massoud Barzani, confirmed, in (the 11th of May current), the need to send the federal government the region's share of the general budget to be able to pay its debts, and stressed that the Kurdistan region the ability to export oil by about independent if not received its share .

    It agreed the Kurdistan Regional Government and the Parliament of the region, in the first of March 2015, to continue efforts to divert the region's share of the budget, and coordination of the formulation of a strategy to tackle the financial crisis and the provision of staff salaries, and publish weekly information on the proportion of the production and export of oil, and the processing of all files and the current problems in the Kurdistan region in The legal framework.

    The Ministry of Finance in the government of the Kurdistan region of Iraq announced, in (the sixth of May 2015), to send the federal government 543 billion dinars for the account of the Kurdistan region, stressing that the amount is transferred in exchange for oil exported from the region during the last April.

    The federal and Kurdish governments have agreed in the (second from December 2014 the past), the allocation of part of the federal allocations of Iraqi ground forces to the Peshmerga forces, and delivery of the Kurdistan Regional Government, 250 thousand barrels of oil per day in addition to the export of Iraq 300 thousand barrels per day of Kirkuk oil.

    The agreement also included the granting trillion and 200 billion dinars for the Peshmerga forces and the allocation of a percentage of the budget of the Ministry of Defense them.


    http://www.almadapress.com/ar/news/49832/%D8%A8%D8%BA%D8%AF%D8%A7%D8%AF-%D8%AA%D8%B1%D8%B3%D9%84-508-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D9%84%D9%83%D8%B1%D8%AF%D8%B3%D8%AA

  4. #4

    Re: The Dinar Daily, Tuesday June 9, 2015

    "Long-Presse" published two articles highlighted the internal leaders from office names



    Long-Presse / Baghdad Published (range Press), the names of the most prominent leaders of the Interior Ministry sacked from office by a resolution of the Interior Minister Mohammed Salem Ghabban issued against the backdrop of proposals permanent Supreme Committee to assess the leaders and commanders in the ministry, in its first meeting on the seventh of June current.

    The most prominent of the respondents change of officials in the Interior Ministry are, head of the Court of Cassation in the Ministry Maj. Gen. Fadhil Haidar and head of the Internal Security Forces Major General Court of the sixth Saadoun al-Saadi and director of the Rusafa passage Major General Zuhair worship and Director of the Federal Police Intelligence Brigade was raised Almksusi.

    Change the Arab and international police director Essam Hassan and Director General of the Rescue Brigade Star-Saadi, the Baghdad police commander Maj. Gen. Shakir al-Asadi and Director General Major General improve sexual Abdul Razzaq also included.

    The Ministry of the Interior, on Tuesday decided today, exemption of 35 senior officers of their responsibilities in the ministry, and while confirming that it comes for "new blood pumping and processing slack and improve performance," associate citizens and warned of "rumors and propaganda."

    It is noteworthy that this is not the first time that the Interior Ministry since the formation of the current Iraqi government in September 2014 to exempt a number of senior officers from office and replace them with others.

    http://www.almadapress.com/ar/news/49859/%D8%A7%D9%84%D9%85%D8%AF%D9%89-%D8%A8%D8%B1%D8%B3-%D8%AA%D9%86%D8%B4%D8%B1-%D8%A3%D8%B3%D9%85%D8%A7%D8%A1-%D8%A3%D8%A8%D8%B1%D8%B2-%D9%82%D8%A7%D8%AF%D8%A9-%D8%A7%D9%84%D8%AF%D8%A7

  5. #5

    Re: The Dinar Daily, Tuesday June 9, 2015

    14 decision to deny entry of foreign banks from currency auction falls within the authority of the Central Bank



    BAGHDAD / ... saw legal expert Tareq Harb, Tuesday, that the Iraqi Central Bank's decision yesterday to deny 14 banks from entering the window of sale and purchase of foreign currency, that falls within the central bank the authority established in the Central Bank Law No. 56 of 2004 and the Banking Law No. 94 for the year 2004 ".

    He said in a statement received "eye Iraq News," the central bank the task of formulating monetary policy in Iraq and the implementation, including foreign exchange policy in accordance with the provisions of Article IV of the Bank Act, as well as in accordance with the provisions of Article 56 of the banks that authorized the Central Bank Law taking any action or impose any administrative penalty against any bank when the bank for violation of the provisions of this law or when submitting incomplete transactions and the failure of the bank his obligations to pay the amount due the General Authority for taxes and the General Authority for Customs gives the bank the use of his authority. ".

    He added that the war "action taken by the central bank against these banks regard to deny access to the window for the sale of foreign currency means the denial of participation in the auction sale of foreign currency by the Bank shall conduct, thus depriving the banks of unrealized and clear and easy profit is to buy foreign currency from the bank and sell These banking guaranteed profit and easy measures do not include any risk, similar to other banking transactions such as loans or the issuance of letters of guarantee, which is subject to the probability of default, which arranges damage to the bank. ".

    He pointed out that "these banks ignored numerous claims from the central bank for the payment of the General Authority for taxes and the General Authority for Customs, prompting the central bank to take this measure, which will be influential in the financial and legal location of these banks in the Iraqi and international market where entail some kind of imbalance of the center's credit inevitably and financial these banks with customers and increase site to other banks who take the sale and purchase of foreign currency has not given his name on this list. "

    He said war this list as "a decision of the official body representing the highest point of monetary and fiscal in Iraq and not a common financial or transferred through the media," noting that "the non-payment of the tax constitutes an act exceeds the commission of certain crimes.."

    "The check list issued by the Central Bank confirms that some of the banks that handle hundreds of millions of dollars through the window for foreign currency is not the only shops.".

    The central bank yesterday decided to deprive the banks (Iraqi investment, the country's Islamic, Lebanon, France, Byblos, international development, the Arabian Gulf, the Middle East, Beirut and the Arab country, Ceyhan, France Bank, Union of Iraq, the Iraqi trade, Sumer Commercial, Huda, from entering Window to the sale and purchase of foreign currency).

    He said in a statement that depriving these banks will continue until the payment of amounts due Bzmthm.anthy 1

    http://aynaliraqnews.com/index.php?aa=news&id22=39622

  6. #6

    Re: The Dinar Daily, Tuesday June 9, 2015

    Assigned to the Oil Ministry to issue instructions to open the investment sector refineries



    BAGHDAD / ... chaired by Deputy Prime Minister Bahaa al Monday evening the Eighth Meeting of the Energy Committee in the Council of Ministers.

    A statement by the Office of Araji received "eye Iraq News", "The committee has decided to take over the Ministry of Environment drafting paper organizing operations policies, waste recycling, with instructions that include various implementation alternatives, whether through investment or through the state budget and submitted to the Commission energy ".

    He added: "The Committee also decided to entrust the Oil Ministry to issue instructions to open the door for investment in the oil refinery sector, but not less than its production capacity for (000.50) barrels per day, and to facilitating the procedures that enable the investor to complete the project easily, with obliging Investor using high technology to ensure the best production of the species. "

    "The Committee reviewed the book and the Ministry of Industry and Minerals / Commission petrochemical industries and fertilizers in Iraq, and decided to demand from the oil ministry to overcome the difficulties and determine the gas sale investment companies price as soon as possible, and the book and the Ministry of Electricity regarding the import of Iranian gas, and agree to Exceptions required from the National Iranian Gas Export Company iranian national gas export company ".

    The Committee membership includes the ministers of oil, electricity, higher education and water resources and Albaih.anthy 1

    http://aynaliraqnews.com/index.php?aa=news&id22=39624

  7. #7
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    Re: The Dinar Daily, Tuesday June 9, 2015

    Zebari: Baghdad sent 508 billion dinars to Kurdistan



    BAGHDAD / Baghdadi News / .. Finance Minister Hoshyar Zebari, on Tuesday, that the federal government sent a batch Mekdrha 508 billion dinars for the Kurdistan region, noting that this amount represents the region's share of the budget for the month of May.

    Zebari said in a press Agdit I followed / Baghdadi News / "Baghdad spent a batch of 508 billion dinars, which is equivalent to $ 426.73 million for the Kurdistan region of dues in the budget for the month of May."

    He added that "this amount represents about half of what was allocated in the budget for the region in 2015, but due to the large-scale cuts in spending." .anthy 21 / d

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Tuesday June 9, 2015

    Names .. Central Bank denied 13 banks from entering the window to the sale and purchase of foreign currencies



    BAGHDAD / Baghdadi News / .. Central Bank decided, deprived 13 banks from entering the window of sale and purchase of foreign currencies and to stop the strengthening of their assets in overseas, for non-payment of tax and customs deductions.

    According to the Central Bank of the book that got "Baghdad News", a copy of "to the Iraqi investment banks, the country's Islamic, French Lebanese Byblos, international development, Business Bay, the Middle East, Beirut and the Arab Countries, Ceyhan, France Bank, Union of Iraq, the Iraqi trade , Sumer Commercial and guidance, due to the lack of exercise of your pay all amounts due Bzmtkm all deductions and tax secretariats and customs and transferred to the account of the General Authority for taxes and the General Authority for Customs, therefore decided to deny you access to the window of the sale and purchase of foreign currencies and to stop the promotion of Arsdtkm abroad through this bank. "

    He added that "this measure continuously until exercise of your pay all amounts due Bzmtkm and provide us with what supports it." It ended 21 / Q

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Tuesday June 9, 2015

    Jubouri Looking raise the profile of the economy with Iraqi and US investors in Washington



    BAGHDAD / Baghdadi News / .. Search House Speaker Saleem al-Jubouri, the economic reality and ways of upgrading it with a group of US and Iraqi investors in Washington.

    Information Office of the Jabouri said in a press statement received by "Baghdad News" that "al-Jubouri met at the start of his visit to Washington a number of senior Iraqi and US investors in the US Chamber of Commerce building."

    "The meeting saw the research ways to improve the Iraqi economy and the face of the current challenges, and the emphasis on investor protection through the enactment of a set of legislation that contribute to moving the wheel of investment and removing obstacles to that."

    It is noteworthy that the President of the House of Representatives arrived yesterday to Washington to meet an official invitation for talks with a number of leaders and US officials to discuss the security file and ways to increase the support of the international coalition in Iraq to fight terrorism. It ended 21 / Q

    http://www.albaghdadianews.com

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    Re: The Dinar Daily, Tuesday June 9, 2015

    Electrodes: coalition forces refuse Abadi's decision to appoint the head of the Sunni stop away from consensus



    {Baghdad: Euphrates News} Alliance parliamentary bloc, the Iraqi forces head Ahmed electrodes announced alliance rejected the decision of the Prime Minister Haider al-Abadi appointed Chairman of the Sunni stop away from the political consensus and without reference to the complex Iraqi idiosyncratic the only body authorized to decide on this matter.

    He said electrodes in a statement the agency {Euphrates News} received a copy of it on "This decision represents a violation of political agreements under which formed the Government of Abadi and encroachment on the Fiqh Council has the legitimate and legal right to nominate the incumbent presidency of the Sunni Endowment."

    He warned electrodes of what he called " lack of commitment and political agreements and the implications serious on the whole what has been agreed upon previously, "stressing that" the serious repercussions taking place in Iraq and facing serious challenges on both internal and external calls mutual concern for the implementation of political agreements accurately and mobilize all energies to eliminate terrorism in all its forms. "

    He asked electrodes for "reason not to adopt the Prime Minister for any of the candidates of the Fiqh Council who have the respect and appreciation of religious leaders and Sunni pan audience Sunni component."

    The Fiqh Council of Iraq to senior scientists for Preaching and Mufti had called Sunday 31 last May, Prime Minister Haider al-Abadi to resolve the issue of chief of staff Sunni Endowment and the fulfillment of its obligations and not lax in it, rejecting any interference or political posturing by some politicians about the job.

    And he finished by saying that "the Fiqh Council of Iraq is the sole legitimate legally authorized to award the presidency of the Sunni Endowment for people with experience and competence and therefore the compound refuses to enter Endowment Sunni in any bargaining, political posturing and supported to carry this trust scientists, imams and preachers loyal in Iraq, otherwise it is right that exhibits all measures that will help him on the performance of this trust. "

    He asked "Prime Minister decisively subject head of the Sunni Endowment and the fulfillment of its obligations and not lax in that." .
    The statement pointed out that "the statement reminds officials that the country is going through a heart that makes everyone in the indispensable escalation another crisis imperceptible her end, but God."

    The Committee of Awqaf and Religious Affairs in the House of Representatives has attributed the delay in naming the prime of the Sunni Endowment political conflict based on the position , indicating that naming the Chief of Staff of the jurisdiction of the compound of the Iraqi idiosyncratic, adding that the compound was nominated four people for the job and handed over to the prime minister to choose one of them, but he said there were more than 30 Sunni legislators nominated figure from outside the compound, what will make the prime minister in an awkward position. " end

    http://wwww.alforatnews.com

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