The Dinar Daily, Thursday June 25, 2015
Page 1 of 15 12311 ... LastLast
Results 1 to 10 of 142

Thread: The Dinar Daily, Thursday June 25, 2015

  1. #1

    The Dinar Daily, Thursday June 25, 2015


    US dollar USD 1166.000 1164.000

    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
    Drawing Rights
    SDR 1641.227 1640.406

    Indicative rates - (as of) 24.06.2015 (no change as of 25.06.2015)

    Currency Auctions

    Announcement No. (2981- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 25/06/2015 results were as follows:

    Number of banks 28
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 313,613,012
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 313,613,012
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-26-2015 at 10:06 AM.

  2. #2

    Re: The Dinar Daily, Thursday June 25, 2015

    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

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

    Estimate the shadow price of foreign currency:

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

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

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

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

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

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

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

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

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

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

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

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

    The Republic of Iraq – Ministry of Planning


    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 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
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________


    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″..

    __________________________________________________ ______________


    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


    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.


    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.


    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.

    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,

  3. #3

    Re: The Dinar Daily, Thursday June 25, 2015

    The killing of "Abu palm" in official executions ... (Daash) and four of his aides in the vine

    Long-Presse / Anbar A source in the leadership of the golden band forces in Anbar province, on Thursday, that the security force was able to kill executions official in the organization (Daash) "Abu palm" and four of his associates in the district of Karma, east of Fallujah (62 km west of Baghdad), as pointed to blow up a cache of weapons and missiles.

    The source said in an interview with the (long-Presse), "The strength of the gold band forces launched this morning, proactive process aimed at a gathering of the elements of the organization (Daash) in tanneries area in the vine spend, (19 km east of Fallujah), killing official executions in the organization (Daash) called Fahd al-Jumaili aka Abu palm and four of his aides. "

    The source, who asked not to be named, said: "The operation also resulted in the destruction of the wheel were traveling and the bombing of a cache of weapons and rockets in the whereabouts of the elements (Daash) in tanneries area with a set number of wireless communications and maps devices shown in which ways and areas of concentration of the organization."

    The Baghdad Operations Command announced that, in the (14 April 2015), the start of the process, "the dawn of the vine" in the district of the vine east of Fallujah (62 km west of Baghdad) from four axes, as shown that the first phase of the operation has succeeded to achieve its goals the deaths of a number of elements (Daash) and control the number of areas adjacent to the Judiciary, confirmed that the aim of the operation is in full liberalization of the judiciary.

    The organization (Daash) controls the most important and prominent cities of Anbar almost a year ago on the events and battles and confrontations between security and tribal forces and highlighted the areas that are under the control of the organization is Fallujah and Qaim border between Iraq and Syria, Hit, Rawa and other ways, including near the borders of the capital, Baghdad vine Fallujah . 8%AA-%D9%81%D9%8A-%D8%AF%D8%A7%D8%B9%D8%B4
    Last edited by pinkadonai1; 06-25-2015 at 10:38 AM.

  4. #4

    Re: The Dinar Daily, Thursday June 25, 2015

    Trillion dinars to support small enterprises

    6/25/2015 0:00

    Central identifies 50 million dinars upper limit per loan

    BAGHDAD - Hussein al-Tamimi Tgb
    CBI launched the national project lending to small and medium-sized enterprises in cooperation with the private banks represented by the Association of Iraqi private banks in the celebration of a broad high-level presence of the representatives of legislative and executive bodies in addition to host the central bank and tie .alparwa works to provide 20 000 loan and 250 000 jobs and reduces 30 percent of the unemployment rate this Matdmenh the financing of small and medium enterprises {program} National Finance Fund.

    The ceremony began with the word Central Bank Governor Dr. Ali Keywords which announced the launch of trillion Iraqi dinars to support this national project is important on the way to stimulate the economy through the creation of small and medium enterprises contribute to the economic and development goals in the forefront of providing jobs for many young people Allbages opportunities.
    Trillion dinars

    Keywords between that this project came depth study in coordination with the Iraqi private banks association, pointing out that the project includes the allocation trillion Iraqi dinars, distributed as loans to small and medium enterprises through the windows of private banks and bank guarantees under the cover of a company.

    He pointed out that the success achieved by this project, the central spur to the development of the idea and provide more support, stressing that an important national project stimulates economic activity and operating manpower and creates a new basis of economic movement, noting that the project represents a starting point for economic activity in many countries that have reached the contribution of these Projects in GDP for the 70 percent in some of them.

    Economic activity

    Keywords said in the case of Iraq, we find suitable for his success circumstances of this project is to provide financial support to economic activity real, and it comes along with the allocation of 5 trillion to banks specialized (agricultural, industrial, real estate) that await instructions from the government to launch the amounts in order to stimulate economic activity, stressing that the process accompanied by very keen to employ the money in the right direction that achieves economic feasibility.

    The head of the Iraqi private banks association meek Handal has pointed out that the allocation trillion dinars for private banks to support small and medium enterprises do the Iraqi market movement where granted loans amounts ranging from 5-50 million dinars in various industrial, agricultural, commercial and service specialties, as well as tourism.

    He said the project covers 20 000 project at an interest rate not to exceed 5 percent and reduced the proportion of projects carried out by women in the tendency to activate its role in society and economic life, indicating that the association is determined to achieve its goals for activating the economy and serve the citizens, despite a number of challenges, and claim media snapped its leading role in supporting This humanitarian project and the consolidation of small and medium enterprises concepts and type of lending and focus on successful projects.

    Handal stressed that the informed decisions of the Central Bank of Iraq had a significant impact for the recovery of the dinar exchange rate against the dollar.

    Agile and simple project are unlikely things manipulate this was confirmed by Ehsan Shamran general manager at the Central Bank of Iraq dismissed: that the banks have to deal with a successful customer can return the amount, which will be used in the liquidity of banks loans and then pay her central allocated.

    He pointed to the existence of understandings with the Association of Banks to reduce interest rates to below 5 percent for women's projects, pointing out that the loan amounts to no more than 50 million dinars a period of recovery does not exceed 5 years and the bank the power to extend the period of the loan, and the bank is responsible for loan recovery period.

    While between the managing director of the company bank guarantees that the company has experience in this area and has achieved great success in most of the cities of Iraq, as the company has supported all sectors except banned, where the number of loans guaranteed by the company's 11935 amounted to a loan through 8 display Commissioner several Director successful experiments funded from previous loans to small and medium projects in the various provinces and the nature of the educational projects and commercial projects and food and breeding poultry and other was able to develop itself and became provide jobs and economic feasibility of a large check to the owners.

    Director and accept regional experiences and successes and how the role of the States in support of these projects, then praised the central role in supporting this experience that is going in the right direction.

    Iraqi National Business Council was present and praised boss David Abdul Zayer on this project, pointing to the importance of direct loans direction that serves the country and do industrial and agricultural activities, and pointed to the availability of the elements of the success of this project, stressing that many countries have done their economies through these projects.

    He said that large sums of money allocated annually to import goods can be manufactured inside Iraq and across the small and medium projects can also be small and medium enterprises are large tributary industries.
    International experiences

    For the first time in economic conferences artistic self We have to talk about the relationship between the economy and the art 'where the artist Naseer Shamma said today meet visions for the project to serve the Iraqi economy, pointing to the experience of European countries in the reception of refugees and give them the amounts do not exceed 500 euros per month and how it employs to achieve economic feasibility through its role in the operation of small and metro services and various fields and shops, pointing out that this project is possible to create jobs for young people as well as innovators.

    Managing Director of the Association of Iraqi private banks Ali Tariq eating in an interview with the Iraqi experience of the company to finance small projects, he said it that the company provided for the very last May 4530 loan worth up to 84 billion dinars, pointing out that the existing loan number 2196 loan and amounts of up to 36 billion Iraqi dinars, Indicating that the participation rate of women of 23 percent and they high degree of commitment to repay.

    He stressed the importance that the media have a prominent role in this project by creating a culture of employment loans direction economically feasible, noting that the instruction in this area focus on granting the owners of expertise in various professions loan to invest in small and medium projects. Stressing that the loans will follow up by the joint committees of the Central Bank and private banks Association.

  5. #5

    Re: The Dinar Daily, Thursday June 25, 2015

    Shopping recovery across social networking sites

    6/25/2015 0:00

    Created by the proliferation of Internet service

    BAGHDAD - Mostafa Hashemi
    Witness the recovery of the domestic market of new economic phenomena shopping in line with the evolution in ways to use the World Wide Web, where is the widespread use of the Internet for the owners of various shops activities chance to make profits and gains business by promoting their wares through social networking sites.

    It is these phenomena deliver the goods to the home service or what is known as (Dlfre) where Pat can citizen buy he needs from clothing or any other commodity after studying the prices of exhibits shops comic and published on their pages on social networking sites, ranging wages delivery service from 5 to 10 Thousands of dinars.

    In this regard, he said economic researcher Maha Ihsan thanks that this phenomenon started to expand and spread in Iraq because of the growth rate of Internet use among community Find what this economic phenomenon, which is positive as feasible and in line with the requirements of the age.

    She thanked in her speech the "morning" that the delivery service (Dlfre) took its field also in the electronic shopping from various shops where has become an integral component to the shop of the local market via the Internet, pointing to the existence of shops for the sale of clothing in different areas of Baghdad this method depends for the sale and discharge their goods.

    She noted that the price, on the subject of buying clothes, may does not represent a problem for many as far as size and color represents; Pointing out that the price of delivery service may be different in this case if the goods were returned or were other request.

    She said the buyer housing for the shop area distance play a major role in determining the price of wage service where whenever the place was the nearest of the shop area the price was lower, and vice versa, and the general rate of at least ten thousand dinars long-distance fact that the majority of the shops are using cars and use bikes in order to preserve the goods from dirt or Allv.ocdt the site (Facebook) shares a lot in the promotion of goods shops, especially clothes where the richest for the trouble congestion and curfews in other shops to buy the required as well as predefined price, likely thanks in the near future to increase the spread of this phenomenon is being reduced time and effort for each the seller and the Almstrae.otry researcher the possibility of developing means of financial payment also in line with this phenomenon through the owners of the shops accept payment smart card or other electronic financial card contribute to reducing cash handling, as in other developed countries that adopt electronic payment system in the majority of business dealings .

    According to those involved, the electronic currency trading and smart cards culture is still weak because of the heavy economic legacy inherited from the old policies that have isolated Iraq to keep pace with global developments in the field of handling credit card what make the transition to electronic trading has difficulty in accepting the idea of ​​Algmehor.odat economic researcher At the conclusion of her speech to the need to roll out to all the shops that deal directly with the public and non-abuse of this service being a new phenomenon worthy of support because it is in the final analysis serve the local economy.

  6. #6

    Re: The Dinar Daily, Thursday June 25, 2015

    To create the infrastructure for e-governance project

    6/25/2015 0:00

    Ministry of Science: simplification of procedures shorten the time, effort and money

    Baghdad, Ahmed Abed Rabbo Hilla, plumber
    It confirmed the Ministry of Science and Technology full infrastructure and create forms and instructions relating to the draft e-governance, revealing that the project of streamlining the government measures applied initially in the ministries and departments of service.

    In the meantime, completed Faculty of Information Technology at the University of Babylon draft evaluate the performance of employees of the Ministry of Higher Education and Scientific Research circles electronic form.

    Undersecretary Fouad al-Moussawi said in an exclusive interview with "morning", said the draft simplification measures launched by the government would contribute in the fight against financial and administrative corruption and increase transparency, as well as shortened time, effort and money, pointing out that he will apply initially ministries and departments SOA of concern to citizens.

    He said the implementation of this project will be allocated by logging on to fill the required forms and books required by government agencies website.

    It is said that the prime minister Haider al-Abadi was launched on June 11 th, a project to simplify administrative procedures in government departments (Start your transaction from your house) through the use of information technology, and is included to facilitate the completion of transactions of the citizens in the government departments and the registration of national and foreign companies in the field of Alastosmar.amoosoa said that the committee formed by the ministry and its membership, which includes representatives of other ministries, have made strides in e-governance project, as it created a whole infrastructure for the project from the instructions, programs and forms, noting that it is currently awaiting approval of the National Authority for Information Law in the House of Representatives. He pointed out that the ministry is working to attract Angels specialized scientific areas to set up a data base serve as a reference for researchers and students in space, communications and digital technology the same vein, completed Faculty of Information Technology at the University of Babylon draft electronic form evaluate the performance of the employees of the Ministry of Higher Education and Scientific Research departments staff and faculty and university leaders, according to what reported by the Dean of the College Dr. Tawfiq Abdul Khaliq al-Asadi.

    He said in a statement the "morning" that completion of the project came great efforts of the college and in coordination with the supervision of the scientific and Evaluation in the Ministry of Higher Education System, which came through the design of this system in college and launched through the official website of the University of Babylon.

    He said he will be through the system described the introduction of 106 000 form concerning Tdrisie and staff of the ministry, stressing get the job done successfully and approval of those forms for all the country's universities, noting that the electronic system will contribute effectively to solving the problem of scientific promotions for teachers, which was experiencing reluctance due to the delay form transactions Calendar paper, the system returned a true gateway to the work of the e-governance structure based on high security non-porous.

  7. #7

    Re: The Dinar Daily, Thursday June 25, 2015

    Parliamentary Education: Financial problems threaten the success of the Missions and students on scholarships abroad

    MP Biriwan Khilani

    Author: HH
    Editor: HH

    25/6/2015 10:19

    Long-Presse / Baghdad
    The Commission on Higher Education in the Iraqi Council of Representatives, on Thursday, that the financial problems threaten the success of the work of Missions and students on scholarships out of the country, and as pointed out that the Iraqi attaché in Britain receive half allocated to its employees and students on scholarships amounts, called Finance and Education Ministries to find quick solutions to these problem.

    The member of the Committee Biriwan Khilani in a statement issued on the sidelines of a meeting of Iraq's cultural attache in London Musa al-Musawi received, (long-Presse), a copy of it, that "During the meeting, discuss the matters and problems of Iraqi students in British universities, as well as matters related to the Iraqi staff in attaché" .

    Khilani added that "cultural attaché revealed to me, that the cultural attaché suffer many problems, including wages of study usually delayed and do not pay monthly causing embarrassment with British universities," pointing out that "less than half the amount that was allocated to the Attaché, which includes tuition fees for students and salaries employees are receiving only a month. "

    And it demanded Khilani, financial and higher education ministries to "find a quick solution to this problem which has become threaten the future of the students and staff work in attaché in London who have been reducing their salaries significantly."

    The Minister of Higher Education and Scientific Research, Hussain al-Shahristani stressed, on Saturday, (March 17, 2015), the Ministry of Finance sufficient guarantees had not been given to secure a scholarship student allocations for the current year, amounting to 400 billion dinars, and as pointed out that the ministry has set standards to ensure that these students get their dues Finance and continuation in the study, pointed out that the ministry is developing amendments to the section of the law, including the National Education Act.

    The students graduate Iraqis in Iranian universities in Diwaniya enemy, on Wednesday, (February 25, 2015), the decision of the Ministry of Higher Education downgrade of Iranian universities of Category (B to C), a "political" decision, and pointed out that this decision will reduce the financial allocations by their constituencies, while the House of Representatives called on to intervene to end the "humanitarian their crisis."
    As criticized the Education Committee in the Iraqi Council of Representatives, on 25 February 2015, issued by the Ministry of Higher Education and two are serving "reduce" allowances graduate students pay scholarships to study outside Iraq, and while confirming that those decisions affected the situation of students and Othart concern has, expressed the hope that "Budget in the scientific competencies that waits for the advancement of Iraq does not affect the deficit."

    It is noteworthy that hundreds of graduate students complete their studies in many countries, especially Iran, Ukraine, Jordan, Turkey and several countries, with the Ministry of Higher Education and Scientific Research allocates money annually as a support to them.
    Last edited by Loopback; 06-25-2015 at 11:00 AM.

  8. #8

    Re: The Dinar Daily, Thursday June 25, 2015

    Minister of Planning and discuss with the French ambassador ways to develop bilateral relations in the economic and investment fields

    2015/6/25 11:13

    {Baghdad: Euphrates News} Search Planning Minister Salman Jumaili, with French Ambassador Marc Baretti ways to develop bilateral relations in the economic and investment fields.

    The ministry said in a statement the agency {Euphrates News} received a copy of it on Thursday that "the meeting included discuss ways to develop bilateral relations between the two countries in all fields, particularly economic and investment", pointing out that "Jumaili called on the French side to increase French investment in Iraq to contribute to the reconstruction process, especially the reconstruction of the liberated areas. "

    "The meeting saw the discussion and follow-up activities undertaken by French companies in Iraq in the field of investment, as well as discuss the French company contracted by the Ministry of Planning to carry out the examination of goods entering Iraq in the country of origin and how to expand the work of this company and develop its work in this situation area. "

    He pointed out that "the two sides also discussed during the meeting, a number of political issues related to the security situation and the steps to implement the government program and the exchange of ideas and visions on issues of common interest" .anthy

  9. #9

    Re: The Dinar Daily, Thursday June 25, 2015

    Abadi: oil production and exports experiencing gradual increases in addition to improved energy Alkhoznip

    June 25, 2015 13:57

    (Independent) ... Prime Minister Haider al-Abadi said that the oil production and export operations attest gradual increases, stressing the need for cooperation between oil companies and the oil ministry.

    Ebadi said in a statement issued by his office during a meeting with a delegation Petroleum British oil company and seen by (independent) announced today that "oil production and export operations experiencing gradual increases in addition to improved energy Alkhoznip," pointing out that "the continued cooperation between oil companies and the oil ministry is reflected positively on the efforts in the field of employment."

    The Abadi "The Iraqi government is keen to fulfill its financial obligations to the insurance companies and working conditions", calling for "the need to double the work to ensure greater use of gas and reduce scorched quantities as part of our national wealth."

    For his part, praised the company's delegation to "the government's commitment and its cooperation in ensuring the work environment suit and concern for the advancement of the oil sector", stressing that "the company was keen to implement the agreed projects." (End)

  10. #10

    Re: The Dinar Daily, Thursday June 25, 2015

    Parliamentary Integrity open file delayed the inclusion of mobile phone companies in the stock market

    June 25, 2015 13:07

    (Independent) .. early parliamentary source disclosed that the Integrity Commission, the parliamentary process of opening a file delayed the inclusion of mobile phone companies operating in Iraq Stock Exchange for the existence of indicators and suspicions of corruption requires extensive investigation open situation.

    The source, who declined to be named, said the committee parliamentary integrity trying to reach the causes of delay the inclusion of mobile phone companies in the stock market (the Iraqi Stock Exchange) as stipulated in the licensing contracts signed with the Telecommunications Authority, which has committed these companies the inclusion of part of its shares for trading on the stock market date not later than the month of August 2010 and in otherwise Aacharkh pay daily fines by 15 million dinars, while the inclusion of trading.

    He added that the lack of equity telephone companies to include the trading impact on the activity of the Iraqi private sector, considering that these companies could achieve high circulation rate, which requires an investigation into the causes of delay it and find out the motives behind it and if there are suspicions of corruption and shortening call accounting which is favored by the source.

    He said the Iraqi private sector it was possible to achieve profits worth hundreds of millions of dollars if the stock were traded on time but it seems that companies preferred to monopolize profits accruing to itself and to circumvent the terms of the licenses at the expense of the Iraqi economy and private sector activity.

    On the other hand source pointed to the existence of manipulation in the real market value of the companies when put up for trading, noting for example that the real value of Zain does not exceed $ 6 billion at the time of appreciation today for $ 9 billion, or add $ 3 billion, which is causing the withdrawal of large cash liquidity when compared to the values ​​of Altdol is real.

    The source said there are many other cases that require investigation of possible disclosure when there is full data and scrutiny of the currently available information.

    He stressed that can not be tolerated today with cases that are related to the Iraqi economy, which began reeling because of corruption and fraud operations pursued by the various parties, especially large companies. (End) ...

Posting Permissions

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