The Dinar Daily, Wednesday June 24, 2015
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  1. #1

    The Dinar Daily, Wednesday June 24, 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 1306.386 1305.733
    British pound GBP 1839.715 1838.795
    Canadian dollar CAD 945.891 945.418
    Swiss franc CHF 1250.402 1249.777
    Swedish krona SEK 142.700 142.628
    Norwegian krone NOK 149.721 149.646
    Danish krone DKK 175.059 174.927
    Japanese yen JPY 9.432 9.427
    Special
    Drawing Rights
    SDR 1641.227 1640.406

    Indicative rates - (as of) 24.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2980- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 24/06/2015 results were as follows:

    DETAILS NOTES
    Number of banks 23
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 314,101,416
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 314,101,416
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-25-2015 at 11:16 AM.



  2. #2

    Re: The Dinar Daily, Wednesday June 24, 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, Wednesday June 24, 2015

    Jumaili: the central bank is ready to expand the amount of loans to small and medium future



    Long-Presse / Baghdad It launched the Central Bank of Iraq, on Wednesday, the national project for the financing of small and medium enterprises, and with trillion dinars allocated for the project first down payment, expressed Planning Minister Salman Jumaili central bank is prepared to expand the amount of loans to small and medium future.

    He said Planning Minister Salman Jumaili in a statement received by, the (long-Presse), a copy of it, that "the Central Bank of Iraq launched the national project for the financing of small and medium enterprises in the amount trillion dinars as a down payment for the project."

    Jumaili said that "the Bank is ready to expand it in the future, proximity and encourage the development of the necessary mechanisms for the sustainability of the project."

    The project was launched at a ceremony attended by the Minister of Planning Salman Jumaili and Minister for Women and Governor of the Central Bank of Iraq and a number of deputies and deputy ministers and the President of the Association of Iraqi banks.

    The Central Bank of Iraq, announced on Tuesday (June 23, 2015), the launch of loan amounts medium and small enterprises by the Iraqi private banks early next month of July, and pointed out that the loan amounts will reach up to 50 million dinars, as he emphasized that banks benefit will not exceed 5.5%.

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


    http://www.almadapress.com/ar/news/50642/%D8%A7%D9%84%D8%AC%D9%85%D9%8A%D9%84%D9%8A-%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%85%D8%B3%D8%AA%D8%B9%D8%AF-%D9%84%D8%AA%D9%88%D8%B3%D9%8A%D8%B9-

  4. #4

    Re: The Dinar Daily, Wednesday June 24, 2015

    Salahuddin announce the return of 1700 displaced families to their homes in Tikrit



    Long-Presse / Salahuddin Declared the governor of Salahuddin Raed al-Jubouri, on Wednesday, announced the arrival of 1700 displaced families to their homes in the city of Tikrit, and as he emphasized that other meals will turn with the release of the working day tomorrow to rebuild the bridge link between the areas of Tikrit and science, The representative of the United Nations Development Program in Iraq It's waiting to external support to work with the government of Salah al-Din in the Health and Human Services areas.

    Raed al-Jubouri said in an interview with the (long-Presse), he said that "more than 1,700 displaced families arrived in Tikrit, and there are other meals will turn."

    He Jubouri that "after the third meeting of the headquarters of the dominant, which includes representatives of all ministries, was launched to work tomorrow for the reconstruction of the bridge link between the areas of Tikrit, Scientific and will Housing Ministry this task", adding that "the work of the ministries improved after the previous meeting."

    For her part, the United Nations Development Programme representative in Iraq, Rose Mary, who attended the meeting in an interview with the (long-Presse), "we want to work quickly in Tikrit, and we will cooperate with the county government, but our potential is limited and we will give what we can bring to where the program did not reach any external support until Now. "

    She expressed the hope that Mary "We get support soon, our priorities are the health and human services and Snstqubl statements and action plans in this regard."

    The security forces have in (the first of April 2015) edit Tikrit city from the control of the organization (Daash) after about a month of the start of a wide process lasted for one month, while still Baiji spend, north of Tikrit, testifies Carr battles provided between the security forces and elements organization (Daash), which controls the majority of the judiciary areas.

    http://www.almadapress.com/ar/news/50656/%D8%B5%D9%84%D8%A7%D8%AD-%D8%A7%D9%84%D8%AF%D9%8A%D9%86-%D8%AA%D8%B9%D9%84%D9%86-%D8%B9%D9%88%D8%AF%D8%A9-1700-%D8%B9%D8%A7%D8%A6%D9%84%D8%A9-%D9%86%D8%A7%D8%B2

  5. #5

    Re: The Dinar Daily, Wednesday June 24, 2015

    Abadi cost Alhmam officially headed by the Sunni Endowment agency



    Long-Presse / Baghdad Assigned to the Prime Minister Haider al-Abadi, Wednesday, Abdul Latif Alhmam officially served as chair of the Sunni Endowment agency.

    He said the Information Office of the Hmam in a statement seen (long-Presse), a copy of it, that "the Prime Minister Haider al-Abadi formally asked Dr. Abdul Latif Alhmam to head of the Sunni Endowment agency."

    The Abdul Latif Alhmam revealed, in (June 14, 2015), the names and entities that have agreed to his nomination, and stressed that those authorities and the names and arrived at the Prime Minister Haider al-Abadi, and as pointed out that the most prominent of those names are cleric Ahmed al-Kubaisi and Abd al-Razzaq al-Saadi and Rafe Rafii and Mufti Mehdi al-Sumaidaie.

    Well-informed sources, earlier in June, that the Prime Minister, Haider al-Abadi, decided to appoint Abdul Latif Alhmam head of the Sunni Endowment proxy, instead of Mahmoud al-Sumaidaie, who used to head the endowment after the dismissal of his former boss, Abdul Ghafur al-Samarrai, in the ( 21 November 2013).

    The alliance of the Iraqi forces, he announced, in (the ninth of June, the current 2015), rejected the decision, Prime Minister, Haider al-Abadi, set Alhmam for the presidency of the Sunni Endowment proxy, away from political consensus, and without reference to the complex Iraqi idiosyncratic, and promised "a breach" the political agreement which was formed under which the government and the "encroachment" on the Fiqh Council, while warned of "serious repercussions" in the event of non-compliance with political agreements.

    The coalition united for reform, counting, in (the first of June current), attempts to influence the complex own idiosyncratic contexts nomination of "deems appropriate" for the presidency of the Sunni Endowment disregard for the law and al-Shara and the status of reference "respectable," and the desire "sick" to create added problems for the country, stressing That brought a message of "bad" Sunni component as a whole, and the gate is a "black" open up to the difficult problems of extinguishing negative repercussions.

    Promised mosque preacher Imam greatest Abu Hanifa, Friday (12 June) the current, that the Iraqi government has hit the wall all agreements on the nomination of the President of the Sunni Endowment, noting that al-Abadi and the President of the House of Representatives, Saleem al-Jubouri, a violation of law that they put into their own hands, which states on the eligibility of the Fiqh Academy nomination for leading scientists, head of the Sunni Endowment, the fact that the compound is a Sunni reference.



    http://www.almadapress.com/ar/news/50650/%D8%A7%D9%84%D8%B9%D8%A8%D8%A7%D8%AF%D9%8A-%D9%8A%D9%83%D9%84%D9%81-%D8%A7%D9%84%D9%87%D9%85%D9%8A%D9%85-%D8%B1%D8%B3%D9%85%D9%8A%D8%A7-%D8%A8%D8%B1%D8%A6%D8%A7%D8%B3%D8%A9-%D8%AF%D9%8A







  6. #6
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    Re: The Dinar Daily, Wednesday June 24, 2015

    Specialist calls to activate strategies to develop the economy

    6/24/2015 0:00

    BAGHDAD - Hussein al-Tamimi Tgb
    create an ideal investment environment in Iraq and the development of the banking business, has become an urgent need to start in the overall process of economic development, at a time when there are reports suggesting a reduction Iraq site in the business environment internationally.

    Economic Member Baghdad forum Amer Issa said that the provision of a favorable environment for the implementation of successful business needs to unite all those responsible for the economic file in the executive branch and private sector institutions and civil society organizations to develop solutions and take effective emergency measures to overcome the challenges and all that increases the efficiency and effectiveness of the work environment in order to then talk about attracting local and foreign investments affecting the productive economy in particular and support all stages.

    He said in a statement the "morning" to talk about this subject is not desires and wishful thinking and statements, but reality of the situation in the country and the extent of the existence of practices and procedures that seem at first glance it timely and lead to disorder in the market being addressed simultaneously but must officials realization that the procedures and practices Wares leave a very negative and long-term impact to the investors and businessmen targeted. He pointed jeweler that countries that have faced the same circumstance which wars and aggression and the blockade has sought to develop their economies and productivity, including the military industry to meet the fateful challenges and Crossing to Safety Beach, while taking in Iraq Voices reduce the direct importance to the implementation of many of the strategies and recommendations and proposals to address and develop the economy.

    He pointed to the effects of the low price of crude oil is increased spending and lagged more Aradah reform and implementation, inevitable reference to the hasty and uncalculated actions that led to a decline in the value of the Iraqi dinar and the accompanying practices of some private banks in delaying the payment of withdrawals of deposits in dollars and reject others pay withdrawals or foreign remittances in dollars but the central bank at a price much lower than the market price at the time the exchange. Followed by treatments is not necessarily the real cure to the fluctuation of the dinar exchange rate against the dollar.

    He said direct factors and indirect, in fact practices and daily life of the relevant and influential on the business environment, which may not show indicators in the business environment studies and have contributed more to shake the confidence of investors and businessmen Business to operate in Iraq, since the investor would not expect is that he saw and touched and more.

    http://www.alsabaah.iq

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    Re: The Dinar Daily, Wednesday June 24, 2015

    The central bank called the National Project for the financing of small and large projects



    Wednesday, June 24, 2015 09:05

    BAGHDAD / Baghdadi News / .. fired the central bank, on Wednesday, the national project for the financing of small and medium enterprises.

    The Ministry of Planning in a press statement received / Baghdadi News / copy of "The Central Bank launched the national project for the financing of small and medium enterprises, where the announcement of the allocation of $ trillion dinars first batch of the project."

    "The Bank is ready to expand it in the near future, and encourage the development of mechanisms for the sustainability of the project." It ended 21 / Q.

    http://www.albaghdadianews.com/economy

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    Re: The Dinar Daily, Wednesday June 24, 2015

    Abdul Salam al-Maliki: We will cut off hands that are trying to steal the wealth of Basra, under the name of budget



    June 24, 2015 9:02

    (Independent).. The member of Parliament for the province of Basra MP Abdul Salam al-Maliki, Wednesday, the government to release its official position from what was attributed to Finance Minister Hoshyar Zebari on mortgage Basra international oil companies in exchange for material liquidity and tackle the financial crisis experienced by Iraq, warning of cut hands that are trying to prejudice the wealth of the province under the name of the budget as Aldoaash cut off the hands that tried to compromising our land.

    Maliki said in a press statement by his press office, he said that "what has been raised from Zebari concerning mortgage Basra oil was to feel the pulse it is a game and dangerous him not to think about it again either the government which is supposed to represent all Iraqis did not hear them any reply in the negative or the acceptance of what was announced by Zebari, therefore, the silence puts us in front of big question marks about what previously rumored that the government of Iraq and its people handed on a plate to the Kurds only for personal government of the so-called compatibility gains. "

    He added that "the Iraqi people that was previously kept silent on the sale of the land of Iraq, in the provinces of Nineveh and Diyala and Kirkuk for the Kurds and kept silent on the budget pleased the party and stole the other in the hope that Asahy the conscience of the government, the public visual will not tolerate the theft of wealth and exploitation for the construction of a Kurdish state alleged the ruins of Iraq in general and Basra especially. "

    Maliki said that "Basra while considered postponing the project region, this is out of respect and in response to the reference to the demand, and in order not be a pretext for not secede, but today we put in the hands of reference of what is happening from the sale of the receivables and the theft of the wealth of their children", warning the government and the drums of Kurdistan where "of touch or just thinking of stealing the wealth of Basra, "stressing that" Basrah red line and we will fight those who try their hands cut off and stolen as Aldoaash fought in defense of our land. "(end)

    http://www.mustaqila.com

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    Re: The Dinar Daily, Wednesday June 24, 2015

    Minister of Planning: The Central Bank expressed its readiness to expand financing for small and medium enterprises in the future



    Wednesday 24-06-2015 | 8:58:32

    Twilight News / Planning Minister Salman Jumaili announced on Wednesday that the Central Bank of Iraq expressed its readiness to expand the national project for the financing of small and medium enterprises.

    The Governor of the Central Bank on the Keywords launched yesterday the project to allocate trillion dinars him down first.

    He said al-Jumaili, who was in attendance to announce the launch of the project in a brief statement today, "It was emphasized that the bank is ready to expand the project in the near future and encourage the development of mechanisms necessary for its lifetime."

    http://www.ara.shafaaq.com/15831

  10. #10
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    Re: The Dinar Daily, Wednesday June 24, 2015

    $ 9.4 billion market value of Zain Iraq



    06/24/2015 12:39

    She added that the company actually began to ring in the trading of its shares in the Iraqi market for securities starting from yesterday, and become open to public investment.

    BAGHDAD / obelisk announced mobile communications group for the completion of all procedures for the insertion and start racing to trade shares ring Company, the company that owns the company raised Telecom Iraq, which operate under the name Zain, and to meet all its commitments to the relevant regulatory authorities and the telecommunications sector in Iraq.

    According to a report published by the "toss network" and I followed "obelisk", he said that the successful listing process that has within two months notice, came in implementation of the Convention on the joint memorandum between each of the "contribution" parent company raised Telecom Pvt Ltd, which operates under the Zain in the name of the ring Company Iraq and "the media and communications" Iraq and "JSC" Iraq and "Iraq Stock Exchange Securities Market" and "Iraqi Depository Center".

    She added that the company actually began to ring in the trading of its shares in the Iraqi market for securities starting from yesterday, and become open to public investment.

    She said that, in line with the terms and conditions of the operating license granted to the ring, the 25% of its shares were offered for sale by the market one of the founding shareholders. The first day of trading has seen the sale and purchase operations where the stock price of 6.09 dinars after closing rate on the price of 5.99 dinars, which unlike market value of the company ring worth 10.96 trillion Iraqi dinars, the equivalent of 9.4 billion US dollars.

    http://almasalah.com/ar

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