The Dinar Daily, Thursday June 11, 2015
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  1. #1

    The Dinar Daily, Thursday June 11, 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 1315.131 1314.474
    British pound GBP 1802.986 1802.084
    Canadian dollar CAD 950.518 950.042
    Swiss franc CHF 1254.168 1253.541
    Swedish krona SEK 141.677 141.606
    Norwegian krone NOK 151.181 151.106
    Danish krone DKK 176.255 176.167
    Japanese yen JPY 9.373 9.368
    Special
    Drawing Rights
    SDR 1641.332 1640.511

    Indicative rates - (as of) 11.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2967 - most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 08/06/2015 and the results were as follows:

    DETAILS NOTES
    Number of banks 11
    Number of remittance companies 3
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 121.360.000
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 121.360.000
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-12-2015 at 11:06 AM.



  2. #2

    Re: The Dinar Daily, Thursday June 11, 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 June 11, 2015

    National Business Council signed a protocol of cooperation with the Federation of Egyptian Industries



    Long-Presse / Baghdad Declared the Iraqi National Business Council, on Thursday, announced the signing of a joint cooperation with the Federation of Egyptian Industries in Cairo protocol, as pointed out that the protocol signed is the first of its kind between the two countries, stressed that the aim of the Protocol is to deepen the Egyptian industrial partnership - Iraq's large and the opening of the Gaza local industry.

    The head of the Iraqi National Business Council David Abdul Zayer in a statement received (range Press), a copy of it, that "the Iraqi side of the Iraqi National Business Council took place in the city of Cairo, the Arab Republic of Egypt Protocol joint cooperation with the Federation of Egyptian Industries," adding, that " the protocol signed between the two sides is for the first time. "

    Zayer said, "The Protocol aims to deepen the Egyptian industrial partnership - Iraqi to be during the next term industrial joint ventures, especially that Iraq is looking forward to the development of Iraq's industry sector."
    He noted Zayer, that "Egypt advantage of good industry and the factories that match their counterparts in the countries of the region and the world it is possible to transfer this experience and take advantage of the local industries in Iraq."

    The manufacturing sector advanced rank in terms of importance for the national economy of Egypt, it comes on top of economic sectors in terms of contribution to GDP (around 17.5% in 2005-2006), as well as its relationship interrelation strong with many of the productive and service sectors, and its role in development of foreign trade and improve the balance of payments.

    http://www.almadapress.com/ar/news/49964/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A--%D9%8A%D9%88%D9%82%D8%B9-%D8%A8%D8%B1%D9%88%D8%AA%D9%88%D9%83%D9%88%D9%84-
    Last edited by pinkadonai1; 06-11-2015 at 11:52 AM.

  4. #4

    Re: The Dinar Daily, Thursday June 11, 2015

    National Pension Authority confirms that transactions will be completed within 15 minutes after the launch of its website





    Long-Presse / Baghdad He confirmed the National Pension Authority, on Thursday, that the transaction will be completed pensions within 15 minutes after the launch of the electronic body site and pointed out that the reform of the pension system is one of the challenges facing Iraq, as pointed out that there are three problems facing retired one legislation.
    To be continued ...

    http://www.almadapress.com/ar/news/49969/%D9%87%D9%8A%D8%A6%D8%A9-%D8%A7%D9%84%D8%AA%D9%82%D8%A7%D8%B9%D8%AF-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D8%AA%D8%A4%D9%83%D8%AF-%D8%A3%D9%86-%D9%85%D8%B9%D8%A7%D9%85%D9%84%D8%A7

  5. #5

    Re: The Dinar Daily, Thursday June 11, 2015

    Iraq launches national campaign to simplify government procedures, "the use of information technology."



    Long-Presse Baghdad Called Iraqi Prime Minister Haider al-Abadi, on Thursday, the National Campaign to simplify government procedures using information technology "under the slogan (your government at your service), and with its promise" the beginning and the first step to reduce red tape and excess episodes that strain the citizen ", he stressed that" the task is not easy. " .

    Haidar al-Abadi, in a speech delivered on his behalf by his chief Mahdi Keywords through national campaign starting Conference to simplify government procedures in the Rashid Hotel in central Baghdad, and attended by, the (long-Presse), "The delay completion of transactions in government departments rejected the case, and we have found that there are rings redundant and routine procedures leading to the depletion of time and effort. "

    Keywords and added that "the government has launched a campaign to all state institutions and services designed to accelerate the completion of transactions, through the launch of a project to simplify procedures which stems from information technology project", stressing that "the task is not easy and you need to follow but we must start the service in practice."

    Keywords and pointed out that "a specialized team Six months ago started working to take advantage of information technology to carry out transactions quickly," adding that "the team has created an electronic window called (begin treatment at home) 320 service for more than twenty ministries and organizations through access to all archives and the steps required to complete the transaction. "

    Keywords and pointed out that "talking about the simplification of procedures not only reduce the time, but a return to the initial understanding is that the State was formed to help people," noting that "a central committee formed to simplify government procedures."

    Keywords "clerics, artists, the media and called for the support of this project, which aims to remove the red tape."

    The government launched before the e-government project, which is a modern system based on the use of the World Wide Web, the Internet, in linking the state institutions to each other, and linking the various services private institutions and the general public, and the development of the information available to individuals in order to create a transparent relationship is characterized by speed, accuracy and aims to improve the quality of performance, and is believed to be the first use of the term "e-government" had been received in the former US President Bill Clinton's speech in 1992.

    For more details about the Iraqi government's initiative to simplify the proceedings press on the following link.
    http://www.egs.iq/

    http://www.almadapress.com/ar/news/49957/%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%8A%D8%B7%D9%84%D9%82-%D8%A7%D9%84%D8%AD%D9%85%D9%84%D8%A9-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A%D8%A9-%D9%84%D8%AA%D8%A8%D8%B3%D9%8A%D8%B7-%D8%A7
    Last edited by pinkadonai1; 06-11-2015 at 11:46 AM.

  6. #6

    Re: The Dinar Daily, Thursday June 11, 2015

    Barzani Kuwaiti Consul: We will think in other ways to provide the budget if Baghdad continued in style



    Long-Presse / Sulaymaniyah Assured the Prime Minister of Iraq's Kurdistan region Nechirvan Barzani, on Thursday, that the region will be forced to think about finding other ways to provide its budget in the event of continued Iraqi government this method of dealing with Kurdistan, while the Kuwaiti Consul expressed a desire to companies and investors in the interest of trade and economic relations with the Kurdistan region, Kurdistan Regional Government called on to provide all facilities to them.

    The Presidency of the Government of the Territory in a statement received by, the (long-Presse), a copy of which, "The president of Iraq's Kurdistan Regional Government Nechirvan Barzani received, the new Consul General of Kuwait to the Kurdistan region of Omar Al-Kandari," noting that "the two sides discussed the latest developments in the war against terrorism in the region Kurdistan and Iraq and alleviating the suffering of nearly 1.0008 million thousand refugees and displaced people. "

    The statement quoted Barzani as saying, that "the Government of the Territory would like to now a solution to the problems and obstacles with the Federal Government of Iraq, especially since the Iraq mission interface of geographic, political, economic and social terms for the Kurdistan region," stressing that "if the Iraqi government continued in this way to deal with the Kurdistan Regional Government of the Territory will have to think to find other ways. "

    He Barzani, for "happiness to move towards the development of relations between Kuwait and the Kurdistan region," expressing his "willingness concerned authorities in the Kurdistan Regional Government to cooperate and provide all forms of facilities for Kuwaiti companies and investors in all sectors needed by the region."

    For his part, Kuwaiti Consul Omar al-Kandari, according to the statement, expressed "the desire of companies and investors, the Kuwaiti government and the relevant authorities in the interest of trade and economic relations with and investment of the Kurdistan region in various fields in the region," calling, the Kurdistan Regional Government to "provide facilities all of them."

    He Kandari, for "happiness for the development and progress in the Kurdistan region, especially in the field of construction, tourism and other fields," pointing out that "the opening of the Consulate of his country in Arbil step in a very important and good opportunity towards the development and progress of bilateral relations."

    The head of the Kurdistan region Massoud Barzani stressed, on Saturday (the sixth of June 2015), that the region will not be part of the "conflict" in the region, and expressed his happiness opening of the Kuwaiti consulate in Erbil, as expressed the Kuwaiti Consul Ahmed Al-Kandari his country's readiness to help the Kurdistan order the face of "terrorism", counting the opening of the consulate "strengthening" of the relations between the two parties.

    The Consul General of the State of Kuwait in Erbil Omar Ahmed Al-Kandari presented last week his credentials to the President of the Department of Foreign Affairs in the government of the Kurdistan region of Iraq papers.
    The head of Iraq's Kurdistan Regional Government Nechirvan Barzani said, Wednesday (the tenth of June 2015), that if there was a commitment to the implementation of a permanent constitution for Iraq since the country has reached to this case, as pointed out that the province will not be able to continue with the central government's current style, As he called for the international coalition to participate in a ground fight al (Daash) and more broadly in order to eliminate it, the representative of the United States in the international coalition Brett Macgork support to help the Sunni tribes in the face of "terrorism" in Iraq.

    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 announced in the Kurdistan region, the first on Monday, (June 8, 2015), 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.

    And announced that the Ministry of Finance in the government of the Kurdistan region of Iraq, 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.


    http://www.almadapress.com/ar/news/49959/%D8%A7%D9%84%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%D 9%8A-%D9%84%D9%84%D9%82%D9%86%D8%B5%D9%84-%D8%A7%D9%84%D9%83%D9%88%D9%8A%D8%AA%D9%8A-%D8%B3%D9%86%D9%81%D9%83%D8%B1-%D9%81%D9%8A-%D8%B3
    Last edited by pinkadonai1; 06-11-2015 at 11:47 AM.

  7. #7

    Re: The Dinar Daily, Thursday June 11, 2015

    National Business Council signed a protocol of cooperation with the Federation of Egyptian Industries



    Long-Presse / Baghdad Declared the Iraqi National Business Council, on Thursday, announced the signing of a joint cooperation with the Federation of Egyptian Industries in Cairo protocol, as pointed out that the protocol signed is the first of its kind between the two countries, stressed that the aim of the Protocol is to deepen the Egyptian industrial partnership - Iraq's large and the opening of the Gaza local industry.

    The head of the Iraqi National Business Council David Abdul Zayer in a statement received (range Press), a copy of it, that "the Iraqi side of the Iraqi National Business Council took place in the city of Cairo, the Arab Republic of Egypt Protocol joint cooperation with the Federation of Egyptian Industries," adding, that " the protocol signed between the two sides is for the first time. "

    Zayer said, "The Protocol aims to deepen the Egyptian industrial partnership - Iraqi to be during the next term industrial joint ventures, especially that Iraq is looking forward to the development of Iraq's industry sector."

    He noted Zayer, that "Egypt advantage of good industry and the factories that match their counterparts in the countries of the region and the world it is possible to transfer this experience and take advantage of the local industries in Iraq."

    The manufacturing sector advanced rank in terms of importance for the national economy of Egypt, it comes on top of economic sectors in terms of contribution to GDP (around 17.5% in 2005-2006), as well as its relationship interrelation strong with many of the productive and service sectors, and its role in development of foreign trade and improve the balance of payments.

    http://www.almadapress.com/ar/news/49964/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D8%A3%D8%B9%D9%85%D8%A7%D9%84-%D8%A7%D9%84%D9%88%D8%B7%D9%86%D9%8A--%D9%8A%D9%88%D9%82%D8%B9-%D8%A8%D8%B1%D9%88%D8%AA%D9%88%D9%83%D9%88%D9%84-

  8. #8

    Re: The Dinar Daily, Thursday June 11, 2015

    White House expresses confidence in the success of his plan in Iraq



    Khandan - The White House said he was confident of the success of his strategy in Iraq, which include the training of Iraqi security forces and the integration of Sunni fighters from tribes in the armed forces, in the fight against the elements of the organization "Daash" terrorist. The comments came after the approval of US President Barack Obama to send 450 military US overtime to Anbar province in Iraq.

    You will US forces opened the camp to help the Iraqi Army to integrate the Sunni tribes in the fighting, which is seen as an important element in getting the organization "Daash" terrorist from areas predominantly Sunni western Iraq.

    The US Department of Defense (Pentagon ) had said on Wednesday that sending additional troops to Iraq would help speed up the training of Sunni tribal forces and equip and support the Iraqi security forces, efforts to restore the center of Ramadi, Fallujah. The Pentagon said that the sending of additional troops to the air base progress in Anbar province, not a change in the US mission in Iraq, but it will allow the increase of the training mission in general. (BBC)

    http://www.xendan.org/arabic/drejaa.aspx?=hewal&jmara=13029&Jor=2
    Last edited by pinkadonai1; 06-11-2015 at 11:48 AM.

  9. #9

    Re: The Dinar Daily, Thursday June 11, 2015

    The Central Bank approves the return of the 14 banks were excluded from the auction currency



    Tomorrow/Baghdad: Iraqi banks Association said Thursday that the Central Bank of Iraq agreed to the return of the four banks which were excluded from the currency auction, indicating that the Bank decided to return.

    Executive Director of the Association to Gibraltar for "tomorrow", "the CBI released just days before the decision to deport 14 private banks from participating in the auction, as well as stop promoting their assets abroad because of its failure to repay all amounts outstanding on the deductions of tax walkmrket secretariats and transferred to the account of the General Commission for taxes and llkmark.

    "The Association moved into its functions to the Department of the Central Bank and explained the position of the banks and against the impact of the resolution on the market and the dollar exchange rate", stating that "the Central Bank taking into account such procedures and decided to return these banks to auction currency."

    "The Central Bank decided to give those banks 10 days for order status and files about deductions for tax, customs, otherwise be excluded definitively."

    Tariq pointed out that "private banks seek to market development and support Iraqi dinars at a time through plans and projects.

    It was issued by the Central Bank of Iraq on Monday a decision to exclude 41 Bank from entering the auction currency wekhrmanh from buying the dollar, caused by the high exchange rate of the dollar against the dinar.

    http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Falghadpress.com%2Far%2Fnews%2F32185 %2F%25D8%25A7%25D9%2584%25D8%25A8%25D9%2586%25D9%2 583-%25D8%25A7%25D9%2584%25D9%2585%25D8%25B1%25D9%2583 %25D8%25B2%25D9%258A-%25D9%258A%25D9%2588%25D8%25A7%25D9%2581%25D9%2582-%25D8%25B9%25D9%2584%25D9%2589-%25D8%25B9%25D9%2588%25D8%25AF%25D8%25A9-14-%25D9%2585%25D8%25B5%25D8%25B1

  10. #10

    Re: The Dinar Daily, Thursday June 11, 2015

    Deputy Kurdish calls for the federal government to send Peshmerga salaries



    Information / Baghdad / ..called the MP for the mass change parliamentary Shirin Reza, Thursday, the federal government to send Peshmerga salaries near the time, saying that the Peshmerga part of the Iraqi defense system.

    She said Reza told / information /, that "the Peshmerga forces budget so far it is within the quota of 17 percent for the province, which is full on did not send so far only a few of them. "

    "The federal government also did not send military equipment to the Peshmerga forces", stressing the need to "be the Peshmerga budget within the sovereign budget of the Iraqi defense system." .

    Satisfaction and he pointed out that "we are waiting for the federal government to send arms and ammunition to our troops who are fighting terrorism since last June."

    Escalated the differences between Baghdad and Erbil over the past few weeks after the claim of the Kurdistan region full their share of the budget to send to pay the salaries of its employees and the Peshmerga, in time Baghdad, which confirms its commitment to the region with regard to these Alqdah.anthy / 25 u


    http://www.almaalomah.com/news/22964/%D9%86%D8%A7%D8%A6%D8%A8%D8%A9-%D9%83%D8%B1%D8%AF%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B9%D9%88-%D8%A7%D9%84%D8%AD%D9%83%D9%88%D9%85%D8%A9-%D8%A7%D9%84%D8%A7%D8%AA%D8%AD%D8%A7%D8%AF%D9%8A%D 8%A9-%D9%84%D8%A7%D8%B1%D8%B3%D8%A7%D9%84-
    Last edited by pinkadonai1; 06-11-2015 at 11:50 AM.

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