The Dinar Daily, Monday June 29, 2015
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  1. #1

    The Dinar Daily, Monday June 29, 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 1306.153 1305.500
    British pound GBP 1835.401 1834.483
    Canadian dollar CAD 943.442 942.970
    Swiss franc CHF 1252.282 1251.656
    Swedish krona SEK 141.265 141.194
    Norwegian krone NOK 148.884 148.810
    Danish krone DKK 175.070 174.982
    Japanese yen JPY 9.439 9.434
    Special
    Drawing Rights
    SDR 1640.166 1639.345

    Indicative rates - (as of) 29.06.2015


    http://www.cbi.iq/

    Currency Auctions

    Announcement No. (2984- most recent listing)

    The opening offers the sale and purchase of foreign currency in the window of the Central Bank of Iraq on 29/06/2015 results were as follows:

    DETAILS NOTES
    Number of banks 22
    Number of remittance companies 2
    Auction price selling dinar / US$ 1166
    Auction price buying dinar / US$ -----
    Amount sold at auction price (US$) 290,914,740
    Amount purchased at Auction price (US$) -----
    Total offers for buying (US$) 290,914,740
    Total offers for selling (US$) -----
    Last edited by pinkadonai1; 06-30-2015 at 11:12 AM.



  2. #2

    Re: The Dinar Daily, Monday June 29, 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

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    Re: The Dinar Daily, Monday June 29, 2015

    Dollar central way to finance the budget



    6/29/2015 0:00

    70 percent of sales go to cover foreign imports

    BAGHDAD Shokran Fatlawi

    hold the progress of the development policies of the Institute expanded seminar attended by Governor of the Central Bank d. On the Keywords and a large number of academics, economists and officials of institutions and businessmen to discuss the reasons behind the crisis, the Iraqi dinar and low value against the rising dollar and its impact on the Iraqi economy.

    initiated the seminar which was attended by the "morning" with the opening of the institute's president d. Mehdi al-Hafez price which the central bank's position by taking quick measures that limited the aggravation of the crisis and the return of the dinar to its previous status as well as the central initiative doing development project with the support of $ trillion dinars in the form of loans to small and medium-sized projects and their implications for national development process.

    Hafiz promised central position reduction Foreign interventions in policy, whether governmental or parliamentary first step and wished to continue its initiatives to stop the interventions, especially those related to trying to time limit to sell the dollar by 75 million dollars a day as well as intervention by imposing taxes and customs duties by 8 percent mode.

    then Governor of the Central Bank occur d . On the Keywords for means of monetary policy, particularly the dollar selling process, which is essential for the central and the rest of the banks being it is not a business process ends buying and selling but base related to monetary policy and therefore economic policy and to achieve stability in the prices returned that objective of the central President.

    He added that the sale of the dollar contributes funding the commercial sector central to the fact that is a monopolist of dollars so he is on coverage of foreign imports as the data indicate that 70 percent of the central sales go to cover foreign imports coincided coverage for personal remittances and thus achieved another goal of the sales process, which scaled the money supply and not to resort to currency printing which leads to inflation.

    He noted that the process was able to curb liquidity in the market by selling the dollar and the withdrawal of the dinar and re-used as needed and requests the Ministry of Finance without having to print more currency. Promised perception simplify this window and counted marginal in the central work of the conclusion that the Aasb in achieving the goals which had been prepared for it, pointing out that the sales process resulting in the financing of the state budget the fact that oil imports received by the country in dollars through the Ministry of Finance are recent converts to the dinar through the central bank, which buys dollars to enable it to cover its expenses in dinars.

    He said that the problem of the Ministry of Finance is not a shortage of the dollar but rather the lack thereof in the Iraqi dinar as a result of the paucity of local revenues for that resort to convert dollars to dinars and thus a source of dinars Central needs so tempted to sell the dollar.
    He concluded Keywords his reference to the need to control the reform because it is the basis of economic reform and performance assessment, pointing out the importance to have a central active role in the development in accordance with the Constitution and called for the importance of concerted efforts the central fact alone will not be able to solve the financial, tax and movement of goods problems between home and abroad as a holistic nature to the national economy.

    At the end of the seminar praised d. Mehdi al-Hafez clear and frank dialogue to the fact that the Governor of the Central Bank of the country in dire need of such Almkashifat in order to identify the problems and access to a private at this critical juncture for the country and out of the crisis resolved.

    http://www.alsabaah.iq/ArticleShow.aspx?ID=95641

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    Re: The Dinar Daily, Monday June 29, 2015

    Legislation calls for Islamic banking law

    6/29/2015 0:00

    It has achieved a significant expansion in the world

    BAGHDAD - Hussein al-Tamimi Tgb

    banking expert stressed the importance of legislation Islamic banking law, especially after it has achieved great success funded many of the investment projects.
    said Dr. Sadeq al-Shammari during the annual meeting of the Islamic National Bank Islamic banks keep pace with developments in the the world in this field, noting that the bank was able to raise its capital to 251 billion dinars based on the directives of the Central Bank of Iraq.
    He pointed to the development of the work of Islamic banks need to simplify the central bank measures, particularly in the Detailed buy properties for banks, pointing out that the success of Islamic banks lies in its assets in support of the assets of its work, noting the importance of issuing official approvals during the time periods acceptable.

    He pointed out that the National Bank is working to provide advanced services to beneficiaries of companies and citizens, pointing out that the volume of credit promissory exceeded the trillion dinars over the past year, while the amount of letters of guarantee amounted to 933 billion dinars, noting that the volume of deposits last year touched the 243 billion dinars. Shammari pointed to the expansion of Islamic banking in the world and regional area and are striking, especially as more than 600 bank worldwide branches scattered in most of the cities with assets of more than $ 3 trillion achieved an annual growth rate exceeding 30 percent of the market share of the banking business, He pointed out that the Islamic finance operations have become the focus of attention of many peoples of the world. And the possibility of employing the banks of the Global Islamic efforts in serving the national economy through building bridges of cooperation between our banks and banks of the world, noting that participation in international conferences contribute to building bridges of cooperation sophisticated banking effort, which has the modern technologies that fit and stage of economic development that was sought by the country and the requirements of the banking sector is able to efficiently handle large amounts of money which employs in large investment projects.

    He concluded by urging the relevant authorities to create conditions for the development of Islamic banking conditions in Iraq in light of the achievements of the fan base in a short period.

    http://www.alsabaah.iq/ArticleShow.aspx?ID=95640

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    Re: The Dinar Daily, Monday June 29, 2015

    Weights facilitate industrial loans

    6/29/2015 0:00

    BAGHDAD - the joy of pumice

    at a time when the General Secretariat of the Council of Ministers circulated recommendation of the Committee on Economic Affairs of the Council of Ministers, which included the approval of the protection of national products for the purpose of revitalizing the work of the private sector, economic advisor to the prime minister that there will be exemptions from taxes and facilitate loans for industrialists who included their products protected likely from the National Endowment for Bank initiative Antrza.otdment local products protected materials list: "concrete additives, drip irrigation systems and parts thereof (plastic pipe, filter, and fertilized), chilled water pump, cement normal, portland cement resistant to salts, sulfur, bricks potter, shoe Service military, military Suit, military and scope, prayer mat, a drop of mouth "Venstal", Pepsi-Cola, Diet Pepsi, Seven Up, Seven Up Diet, Miranda each Nkhadtha, and Mountain Dew - Shani ". He said Chancellor d. The appearance of Mohammed Saleh in a statement the "morning": that "the most important means of national protection product application of the customs tariff, which is not a way to collect only, but mainly in order to give strength similar to the importer of dumping commodity for national products." Said Saleh, said that the recommendation of the Economic Commission charged Referring to government will Avenue in the national product support and stimulate the private sector, especially as the country is packed with imported products that led to the paralysis of the National Industries for the licenses prices for the citizen, on the contrary national product, which suffers from high cost for several reasons, including hand the cost of labor and productivity and lack of energy electrical, as well as the lack of support for the industrial sector, whether public or private.

    Chancellor pointed out the value of Iraq's imports of dairy products and ice cream last for 2014 amounted to "dollars and a half billion", while Iraq has the factors and the basic components of these products, stressing the need to impose tariffs on imported products and similar products Aloutnah.ama for the actions of other non-tariff, Faragh Saleh, said that there should be exemptions from taxes and facilitate loans for industrialists who included their products are protected from the National Fund of the Central Bank initiative, as well as investment and industrial development laws facilities.

    The text of mainstream Secretariat General of the Council of Ministers on the continuation of the committee formed by the study affaires to ensure the implementation of the protection of Iraqi Products Act No. 11 of 2010, the functions of its business.

    http://www.alsabaah.iq/ArticleShow.aspx?ID=95639

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    Re: The Dinar Daily, Monday June 29, 2015

    Parliamentary legal receive a general amnesty law



    06/29/2015 14:39

    Parliamentary Legal Committee, announced Monday, it received a general amnesty law, which was approved by the Cabinet recently .

    BAGHDAD / Obelisk: Parliamentary Legal Committee announced, Monday, that it received a general amnesty law, which was approved by the Council of Ministers recently, and as pointed out that it will study the law, confirmed that the law will be submitted to the presidency in the absence of guaranteed constitutional violation .

    The committee member said Salim Chawki said in a statement seen by "obelisk", "The Parliamentary Legal Committee received a general amnesty, which was approved by the Council of Ministers recently in order to study an extensive study for the purpose of introducing the first reading in the House of Representatives . "

    He added that "the legal committee will study the law and in the absence of any paragraphs included in violation of the constitution will be submitted to the presidency . "

    He said Shawki, a deputy from the block citizen "We are dedicated to not exempt from this law, and terrorists with blood on their hands with the blood of innocent Iraqis as well as the thieves of public money . "

    The President of the House of Representatives announced Saleem al-Jubouri, in (June 23, 2015), about the arrival of the General Amnesty Law to the council, and came after the sound of the Council of Ministers, in (June 16, 2015) on the draft law and referred it to the House.

    http://almasalah.com/ar

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    Re: The Dinar Daily, Monday June 29, 2015

    Call: Almtkhabron with regional countries are trying to undermine al-Maliki



    06/29/2015 10:44

    Bloc will not allow hold such moves and it would spark a light within these corridors and will cut off the hands that want to undermine al-Maliki.

    BAGHDAD / Obelisk: Bloc revealed the Dawa Party, Monday, on the movements of "malicious" carried out by some of the plotters and collaborators with regional countries are trying to provide the Vice President Nuri al-Maliki of the trial, while threatened to cut off hands that want to undermine al-Maliki.

    The head of the parliamentary bloc behind Abdul Samad in a statement issued today, seen by "obelisk", that "the call parliamentary bloc were part of the coalition of state law will not allow the Nile from the vice president, secretary general of the Islamic Dawa Party Nuri al-Maliki," noting that "there are moves malicious carried out by some of the plotters and collaborators with regional countries are trying to provide al-Maliki to trial. "

    He added that "these moves led by the blatant views revealed documents and Ikilex for involvement of conspiring against the unity of Iraq", adding that "those working in the dark corridors of the Nile in order of Maliki, who proved the same documents his refusal to compromise and cowardice."

    He said Abdul Samad that "the bloc will not allow hold such moves and it would spark a light within these corridors and will cut off the hands that want to undermine Maliki," pointing out that "we will not allow that to make this issue to bargain and seek pardon from the state of law on those who Tkhabroa with regional countries."

    Abdul Samad said "Maliki is continued and the only character that provided answers accompanied by documents in the case of Mosul, while others refrained from providing answers, as explained in more than one occasion that Mosul fell into a political decision and not the military."

    He added that "al-Maliki told more than once of the National Alliance exposure Iraq black storm would collapse army which, because this storm deep sectarian came impact of the crisis in Syria," explaining that he "intentionally to form the nucleus of the crowd at the invitation of the resistance factions leaders of the Islamic (Hezbollah Brigades, the League of the Righteous Bader) to grab the belt and securing Baghdad and areas handed over the axis of each faction, as work on the coordination between them and the army leadership and operations. "

    He said the "trial of al-Maliki wants him to be healed of the same documents and Ikilex first."

    The President of the Republic Fuad Masum, in the June 25, 2015, non-validity of the report published by the newspaper "the statement" the UAE on the dimensions of his deputy Nuri al-Maliki from office, as pointed out that the Iraqi political parties to make every possible effort in order to unify the Iraqi ranks.

    http://almasalah.com/ar

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    Re: The Dinar Daily, Monday June 29, 2015

    Oil deal without the knowledge of Baghdad



    06/29/2015 12:19

    It has already received an amount of $ 4.9 million for the first oil shipments to the buyer who did not remember his name.

    BAGHDAD / Obelisk: Gulf Keystone Petroleum, the company said on Monday it has signed a six-month contract with the buyer of crude oil in the Kurdistan region of Iraq to enhance the prospects of the cash flows of the company that still has oil dues when the Government of the Territory.

    The company said that under the new contract will supply Gulf Keystone between 12 thousand and 40 thousand barrels per day to a local buyer did not reveal his name.

    She said she has already received an amount of $ 4.9 million for the first oil shipments to the buyer who did not remember his name.

    This transaction will help to strengthen Gulf Keystone budget which recorded a cash flow of $ 68.7 million as of June 26.

    The oil company indicated that it continues discussions with the Kurdistan Regional Government to develop a plan for regular payment of dues for purchases of crude oil.

    Gulf Keystone said that the oil field operated by Sheikhan currently produces more than 40 thousand barrels per day after the repair of a technical failure.

    http://almasalah.com/ar

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    Re: The Dinar Daily, Monday June 29, 2015

    More than $ 290 million central bank sales in the auction today



    2015/6/29 14:14

    [Baghdad - where]
    It sold the Central Bank of Iraq, in the auction for the sale of foreign currency on Monday, $ 290 million, marking a rise of $ 22 million for yesterday who sold the $ 268 million.

    The central bank is trying to cope with the surge in the dollar over the past days, reaching more than 1,400 dinars to the dollar while the official rate of 1166 dinars but these prices dropped again to 1230 dinars to the dollar.

    According to a statement of the bank, the agency received all of Iraq [where] a copy of "The size of the amount sold today by the bank at the auction of dollar on 290 million and 914 thousand and $ 740 total, priced at 1166 dinars exchange rate to the dollar, and with the participation of 22 banks and two financial convertible" .

    He pointed out that "the amount of remittances and the volume of credits, amounted to 252 million and 739 thousand and $ 740, while the quantity sold was 38 million in cash and 175 thousand dollars."

    The statement said that "the Iraqi Central Bank to continue buying and selling dollars at 1166 dinars," adding that "the sale of remittances price of 1187 dinars / dollar, including the commission of the Central Bank of $ 21 dinars per dollar, with total cash sales price of the dollar in 1190 dinars / USD, including the commission Bank Central of 24 dinars per dollar. "

    It is said that, Governor of the Central Bank and the Agency on the Keywords, suggested during hosted last week in the parliamentary finance committee, the abolition of the private bank's auction sale of foreign currencies including the US dollar to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell anyone who wants to buy it, because there is a reserve in the bank responds to any request with instructions to restrict sales and controls but this is what the Bank can not be done. "

    For his part, Economic Adviser to the Prime Minister the appearance of Mohammed Saleh, Saturday that the central bank is facing demand pressures on the currency, "he said."

    With regard to the Bank measures to reduce the high price of the dollar, Saleh explained to [where], "There are some actions by the Bank, imposed on him, and the other is taken such as imposing 8% against the transport of goods when the conversion, and this is borne by the exchange rate and gave the wrong signal to him." end

    http://www.alliraqnews.com/modules/news/article.php?storyid=8292

  10. #10
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    Re: The Dinar Daily, Monday June 29, 2015

    Parliament will hold its first meeting next Wednesday in his second year Parliamentary vote and the reading of several laws



    2015/6/29 11:33

    [Baghdad-where]
    House of Representatives held on Wednesday [July 1] first session in the second legislative vote and enacted reading of a number of draft laws.
    And includes the agenda of the meeting according to a statement of the Council received by all of Iraq [where] a copy of it, "vote on the draft accession of the Republic of Iraq to the International Convention on the law to walk on the roads of 1968 and the agreement of the European supplementing her for the year 2006, and vote on the draft Fifth Amendment to the Law on Public Companies Act No. 22 for the year 1997 ".

    It also includes "first reading of the draft law on ratification agreement trade cooperation between the Government of the Republic of Iraq and the Government of the State of Kuwait law, and the first reading of the draft ratification of the agreement partnership law for cultural, scientific and technical Altaawan and for development between the Government of the Republic of Iraq and the Government of the French Republic."

    The statement pointed out that "the first reading of the draft law on public holidays, and the second reading of the draft accession of the Republic of Iraq to the International Organization for Migration Constitution Act, and the second reading of the draft treaty Contract Law" will be listed on the agenda.

    He is scheduled to hold a session in the eleventh am.

    The House of Representatives has ended the legislature enacted the first third of its adoption 35 legally while waiting for other important bills, such as laws of the Federal Court and the amnesty and political parties, oil and gas, the National Guard and modification of the Justice and Accountability Law, among others.

    The President of the Council, Salim al last Thursday's [where] the receipt of the House of Representatives for a general amnesty law from the government, who approved it before Oaam- with a 22 legally ready for a vote Alih.anthy


    http://www.alliraqnews.com/modules/news/article.php?storyid=8265

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