Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-13-16 (most recent listing)

Currency Auctions Announcement No. 3337

This daily currency auction was held in the Central Bank of Iraq on the 12-13-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,426,498
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,426,498
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
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Very little is needed to make a happy life; it is all within yourself, in your way of thinking. – Marcus Aurelius

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Money laundering court is forcing community banks “contrary” to pay 245 billion dinars

Twilight New / specialized money laundering issues, the court announced that their actions have forced the eligibility banks to pay fines and benefits Tojerih owed Bzmtha as a result of violating the sale of foreign currency to take measures, and as pointed out that the total amount has been met so far reached 245 billion dinars, confirmed that it happened as a result of a complaint evoked by CBI.

He said the dead of Judge money Radi Fartusi wash in a statement quoted by the newspaper “the judiciary”, issued by the Information Center for the judiciary, he said that “reports of the Audit Court indicated the end of 2014, violations of the private banks concerning the sale and purchase of foreign currency window (the dollar).”

Fartusi He added that “This came as a result of the transfer of those banks outside Iraq sums of money through the central bank window and what not to bring them in favor of the introduction of goods in exchange for the money, or the inadequacy of the submitted documents.”

He explained that “the court has taken legal action after a complaint lodged by the Central Bank”, warning that “the violation of private banks began to pay penalties and interest The delay recorded on them from the beginning of 2012”.

He pointed out that “much of what has been done to fulfill reached 245 billion dinars,” stressing that “the last payment was in September increased by 10 billion dinars.”

The judge went on the cover of Money Laundering “The court actions taken against the private banks customers who have forged permits as a result of moving the complaints against them.”

Fartusi went out that “those banks pledged to pay penalties and interest The delay in the maximum period of the first half of next year, and that reimbursement procedures going on a month,” stressing that “the Head of the Judiciary Judge Medhat al-Mahmoud confirms to pursue all the money laundering files in order to be resolved as soon as according to the procedures of the law, and recommends overcoming all obstacles to our work in the court. ”

Read More: http://www.dinarupdates.com/showthread.php?44561-Money-laundering-court-is-forcing-community-banks-quot-contrary-quot-to-pay-245-billion-dinar

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Islandg1211 (Dinar Guru) –   NOTHING, NOTHING, NOTHING…THEN SOMETHING! Recently…the CBI came out and stated that they had tried to delete the three zeroes before in 2011, 2013, and 2015, but were delayed and plan on beginning the projects the first part of 2017…Three attempts that failed…hopefully, 2017 finally going through.

Read More: http://www.dinarupdates.com/observer/

Why Maliki insists that back? (OPINION)

Rahim more – I spoke in a previous article titled (Maliki returns) Published on 2016/9/25 http://rudaw.net/arabic/opinion/250920161 for enablers return of former Prime Minister Nuri al – Maliki issued the political scene in Iraq, and listed securities by maneuvering them ( of course he currently holds a position as close to the Honorary is the Vice President of the Republic, but it is clear that he lead roles much more than being one of the three vice honorary President of the Republic Fakhri is the other), and explained the pitfalls encountered the man to fulfill his dream to return again to the position of the ether on his heart it is the Prime Minister (mean nothing to the owners of any other positions in addition to being a Vice president of the Republic, is also the secretary general of the ruling Dawa party, and the president of the State of law bloc in the House of Representatives, the actual supervisor of the popular crowd, the whole does not charge as much to return as prime minister).

Now, al – Maliki has made progress on a trip back to the office, I want to highlight the stages completed so far to achieve the aspirations of , and I want to put hypothetical answers to the big question: Why Maliki insists that the prime minister is due?

– The footsteps of former Prime Minister aspirant to return strongly to the front of the scene, preliminary steps:

• managed first ( to take advantage of his influence growing to spend obedient to his wishes) to break the decision of Prime Minister Haider al – Abadi sacked vice president, a symbolic move and legal larger than a return to the assumption ceremonial post, he wanted to say that I exist and strongly and will not can not Abadi and other exclusionary of the scene.

• and then issue the popular crowd, which is another step on the road to al – Maliki , the return of the pyramid of power law, look to the tone of his speech mounting in recent days that the legitimate father of the crowd , a founder, has thus become the has a legal military arm bridleth by his opponents and employs election.

• start procedures for the enactment of the tribes is the first in Iraq after the abolition of the Republican clan Act of 1918 in 1959, and clearly visible over the hiring Maliki tribes in a long series to extend its influence over the state and society.

• did not stop Maliki ‘s efforts to get a third term after the general elections in 2014, only the market to him that Abadi presidency of the government is nothing to be only a transitional stage paving the way for his return, an imitation of the experience of Putin rotate positions in Russia, and has therefore been deposited as prime minister and deposit the Abadi until the next election in 2018.

• consolidation of its strong relationship with Iran Her final say in naming the prime minister in Iraq since 2003, and perhaps the famous Maliki ‘s speech at a conference (Islamic awakening) in Baghdad on October 22 / October 2016 in which the exciting sayings fired (coming, paper, coming Aahalb, coming, Yemen) in Tmah clear with the Iranian strategic project in the area, confirming once again presented his credentials as a carrier of the banner of Iran in Iraq and the region, the first and most important specifications Iranian acceptance of candidates for the post of Prime Minister of Iraq.

As for why Maliki insists on return to the office where he spent eight lean years, it is what can be seen through:

• exposure Maliki fierce and degrading attacks from his opponents within the political process and beyond since the overthrow of a project his third term, even exceeded it insults and verbal insults and various types of abuse, to attempts are continuing to be submitted to the trials on charges related to the fate of hundreds of those killed in the massacre Spyker or alienate Iraqi provinces for the benefit of a full Daesh terrorist organization or of corruption and waste of the Iraqi state funds and bankruptcy.

Not shield him stave Maliki all this and fortifies himself only the first position in the Iraqi state.

• the spirit of revenge which is a clear advantage in the man ‘s behavior, which believes that nothing Ahbaha but to return again to harass his opponents and his opponents , particularly a well – known unique in its ability to manufacture various files to overthrow the others, noticed his threats to protesters Basra , including call (Charge of the Knights) seconds, and even waving explicitly violent prosecution of those demonstrators.

• Do not remain in front of al – Maliki and other tasks not yet been completed as part of a regional project to address the re – demarcation of the countries of the region after the completion of an era Daesh in Iraq , US President – elect Donald Trump recognizes actually functions, there is no better than al – Maliki to perform such roles on behalf of the outside.

• The man lives (denial) Denial Case as he calls the US – known journalist Bob Woodward, a condition suffered owner of denial that lie the facts in front of him, al – Maliki denies responsibility for the occupation Daesh to one – third of Iraq ‘s territory, and killed thousands of Iraqis and the displacement of hundreds of other of them thousands, and denies responsibility for the dissipate and bankrupt the country ‘s wealth, and deny corruption discharged and richness and his family on the expense of public money, and deny use his influence to put pressure on the institutions are supposed to be independent such as the judiciary and the integrity Commission and the election commission, al – Maliki also deny fabricated charges of his opponents and the use of public money to buy off supporters to him.

(State of denial) This says a psychologist paid by the patient to reject everything except what he sees around him is true, regardless of the enormity of what has been committed.

Overall, quite clear that the balance Maliki stronger than Mnahiah whether the Sadrist movement or the civil power, as he walked forward towards the consolidation of his power , which is expected to be crowned by getting back on the prime minister, which was built in eight years of direct rule and two years of indirect rule gives him a chance larger than the other, unless it was with the US administration of President – elect another opinion, only the Americans are able to dispel Ahlam al – Maliki.

Iraqis were invariably silent and wretched on its mind, do not have -llasef Alhdid- in the foreseeable future at least, means the overall change in light is determined to al – Maliki and his ilk Format political process.

Maliki cut more than half of the nearly half coming back as prime minister, what are you doing?!

This article reflects the views of the author and does not have a relationship point of view Roudao Media Network.

Read More: http://www.dinarupdates.com/showthread.php?44563-Why-Maliki-insists-that-back-(Opinion-Piece)-12-13

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Kaperoni (Dinar Guru) –   Article:  “Is Iraq heading to float the dinar against the dollar?!”  Quote:  “…and these expectations (float Iraqi dinar) does not have any credibility at all and can not be done during the current year (despite the economic benefits), and the reasons for not float the currency back to the nature of the local economy being a rentier which means that he relies on oil exports…”  This guy is right, they can’t float the dinar at this time.  Until the laws are passed and the market economy is started, investors begin to come into Iraq.

(Please note the Mr White commentary along with the referenced article below…)

Read More: http://www.dinarupdates.com/observer/
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BGG (Dinar Guru) –   “Ministerial council looking reinforcement provided by NATO to support Iraq contracts”  NATO support…  [They have come a long way in terms of professionalism and quality of individual…]  They want “International acceptance” and support – this is exactly how they get it.  …they are on the road to restoration. Let’s hope sooner than later.   All indicator seem to point to something being “up”…

Read More: http://www.dinarupdates.com/observer/
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Is Iraq heading to float the dinar against the dollar?!

Books / D.basil Abbas Khudair … Dozens of articles published about the reasons for the low exchange rate of the dinar against the dollar prices in light of the Iraqi Central Bank to sell billions of dollars each year, some of which pointed to the need to make local and international about suspicions of corruption surrounding the operations of trading in dollars and that proved some of the existence of acts of money laundering and the smuggling of the country’s wealth investigations to third parties, and some of them to finance terrorism, and all that has been said on the subject went unheeded because the Central Bank of Iraq is going in the same direction to sell more dollars are far different from the prevailing market price, it is virtually the dollar, which sells bank is 1184 dinars or 1190 dinars, while the exchange rate (the shops) exceeded 1,300 dinars to the dollar, the prevailing market price in represents a departure from the Help currency auction where the central bank set the dollar exchange rate in local markets in 1200 dinars per dollar maximum is supposed to take action regarding the offenders, and the problem true is that the irregularities regarding prices by offices, companies and banks going on since the birth of the auction, which hundreds of billions commissioned since 2004 and until today without anyone except for some cases that do not fit with the large size of the disagreements accounting, these irregularities publicly held day and night markets are dollar visible and do not work secretly.

The decline of the Iraqi dinar exchange rate against the dollar is not a passing issue and it is a real tragedy should devote proper attention to her as it relates to people’s livelihood, especially the poor and low-income them. Most what we consume is imported from abroad, traders raise prices whenever the price of the dinar has fallen despite the imports are financed currency auction in the Iraqi Central Bank, and in practice, the dollarization prevailing in most of the transactions, despite the state refuses to dollarization because the local currency is the dinar, prices of airline Iraqi Airways tickets are identified and sold in dollars, as the various goods and services is calculated their prices in dollars and then be transferred to the the dollar, and this duplicity in dealing makes dollar demand high because local merchants need a dollar, and some citizens are forced to keep the dollar for the purpose of payment or reimbursement, the real problem is that the exchange rate we are not subject to supply and demand mechanisms, but for other reasons not related to the concepts and applications economic, Central sales of the dollar goes down, but the dinar exchange rate rises at a time when getting just the opposite, and suggests that exchange rates outside the Iraqi Central Bank’s control and the proof is that the main objective of the establishment of the currency auction is the stability of exchange rates to the purchasing capacity is not affected citizens fluctuating prices, the reality of the case (yesterday) indicates that the dinar exchange rate was 1320 dinars per dollar, and the problem that the seller buys the dollar low price and sell my high price of the dollar due to the instability of exchange rates, as is the case in some countries such as Jordan and Lebanon.

And that there are large differences between the selling price in the Central Bank (1190) and the price in the market (in 1320), a difference of 130 dinars mean that there are millions or billions of dinars every day from the pockets of citizens go out to go into the pockets of the gatekeepers in dollar terms, each dinars more than the exchange rates cause an increase in the prices of goods and services needed by the citizen, because more than 95% of the subsistence needs of the citizen to be imported from abroad and is covered by the central bank, which sells dollars to dealers for the purpose of importation, and are investigating Rlaken traders first from the sale of goods dollar rates prevailing in the market and the second is for profit trade capped the dollar, and at the same time, the citizens suffer a range of first losses from buying needs at high prices and the loss of the national currency by as they go for the sake of security exploits currency auction, who are supposed to bring the needs of the citizen exchange rates prevailing at the central bank and not prevailing in the local markets because they are buying the dollar Central and prices, official and not from markets Altdharbah prices, and missing part of the equation can be summed up by asking that: If the trader imports goods from abroad in dollars bought by the central bank and sell them to Iraqi traders in dollars. Where they come in Iraqi dinars, which buy its dollar currency auction ?? , And the related question is whether the import of Iraq as much as the dollar sold where the tax proceeds for the budget for these imports?! .

Some that believe the reason for decline of the dinar rate against the dollar is to reduce the central sales of the dollar, which is not true belief, because the CBI did not stop selling the dollar or selling prices change even when lower prices for a barrel of oil to $ 20, the dollar has lost sales reached yesterday ( Monday, 12/13/2016) increased by $ 154 million were sold by $ 148 million to 32 banks and $ 6 million to 10 corporate banking, noting that the Iraqi Central Bank sales of the dollar has reached $ 31 billion for the period from the beginning of this year up to yesterday, and that the quantities sold included the living and the dead because the Warka Bank Ahli (for example) that has stopped working since 2010 and closed its branch does not exercise any acts or at its headquarters located in Khilani Square enters the Iraqi Central Bank auction and buy up to $ 5 million a day, while banks and companies and offices banking that share a long dollar a day, they are the same that are repeated their names and its activities since 2004 and until today, all dollar sells off set by the CBI prices, the price reached yesterday more than 1,300 dinars per dollar, although the exact price should not be more than 1200 dinars per dollar by the central instructions, comes high prices of the dollar despite the current rise in global oil prices after Brent crude oil reached more than $ 50 a barrel and the oil Marketing company (SOMO) the implementation of futures contracts for oil for the month of next January 2017 prices close to 50 dollars .

There are those who ask, if the dollar sales going on and oil prices in the case of high why the dollar prices rise and fall of the dinar prices, even though we are duty all important aspect of this question in the emergence of (layer) controls the dollar but there is another cause and respect the belief by some that Iraq will resort because its reserves from the dollar’s decline to float its currency along the lines of what happened in Egypt and Syria, Vtaoam currency achieves many returns to Mdechri dollar having seen the Egyptian pound exchange rate decrease of more than 18 pounds against the dollar after it was nearly 6 pounds per dollar, and dropped the lira Syrian to 52 pounds against the dollar after it was five against the dollar, and these expectations (float Iraqi dinar) does not have any credibility at all and can not be done during the current year (despite the economic benefits), and the reasons for not float the currency back to the nature of the local economy being a rentier which means that he relies on oil exports, and that this is linked to monetary factors, including the large monetary mass of the size and other reasons we do not want to go into details now, and it is almost certain that the currency was floated far from the guidelines, which means that adjusting the exchange rate back to its tracks natural commensurate with the Iraqi Central Bank instructions, you need to impose real control on companies and banking offices, combined with punitive measures for offenders, with the need to expand and facilitate the conduct of the dollar outlets for citizens to meet their needs and that of their legitimate rights and not to make it a breeding ground for corruption and stockbrokers and connotations.

Almaalomah.info

Folks… Seriously, and I mean SERIOUSLY!!! This discussion by this economist is NOT about the eventual international exchange rate that the CBI will set for the IQD.

Instead, this is the ever evolving discussion about how best to control the value of the IQD “on the street”. Currently, the auctions are used for that purpose. it has been a failure.

Now, everybody has an opinion about how best to do it. However, the Governor of the CBI just last week told the world how it will be accomplished;

“He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.”

Reducing the demand is giving value to the IQD so that all of those goods being bought with the USD is now bought with the IQD. Giving value comes from the CBI in advance, prior, before, all of these foreign investors. Not after!!!!

Giving value to the IQD will also give the Iraqi citizen “purchasing power AND reduce the demand for the USD.

Are laws needed? Yes, but without value to the IQD none of the private sector growth will ever occur.

We have always thought, because we were told by certain “self proclaimed experts”, that it was investors first followed by economic growth followed by a rise in the IQD.

Sorry!!! That is AXX Backwards. If the value in the IQD does not occur up front all of the above will not take place. The Iraqi citizens need purchasing power. Look at what Alak stated (above).

Mr White

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How some investors are taking the ‘long view’ of Iraq despite war

Iraq’s Oil Minister Jabar Ali al-Luaibi arrives at a hotel ahead of a meeting of OPEC oil ministers in Vienna, Austria, November 28, 2016.

Heinz-Peter Bader | Reuters

As Iraq’s government battles against terrorists, a few investors aren’t entirely deterred from seeing opportunities in the war-weary country, which has yet to ascend to formal emerging market status. Some are taking a “long view” that calibrates inherent risks against potential opportunities.

Iraq is gradually emerging from a brutal two-year economic downturn, coupled with a bloody conflict with ISIS conflict and still percolating civil strife that has wreaked havoc on its infrastructure and institutions. Last month, one investor told CNBC a full-fledged economic revival would take at least a decade to come to fruition.

Yet a 2105 State Department report noted Iraq’s “long term potential” for U.S. investors, largely based on its status as the world’s fifth largest repository of oil reserves and massive reconstruction and infrastructure development needs. “U.S. companies have opportunities to invest in security, energy, environment, construction, healthcare, agriculture, and infrastructure sectors,” the report said, noting Iraq’s voracious import demand needs.
Meanwhile, a few experts point to the oil rich country’s vast natural resources, and a youthful and growing population that provides it with the manpower to achieve stability—eventually. Along with a growth rate predicted to top 7 percent this year, Iraq’s underlying fundamentals make it a golden opportunity for investors brave enough to look beyond the sound and fury. So where might crafty investors place their faith—and funds?

“Two major themes will drive Iraq’s revival over the immediate and long term,” Ahmed Tabaqchali, chief investment officer of the Iraq Fund at Hong Kong-based Asia Frontier Capital told CNBC recently. The firm specializes in frontier and exotic investments.

Tabaqchali explained that rebuilding with the country’s booming population in mind should help drive growth.

“Wholesale infrastructure, careful rebuilding of the economy and reconstruction of ISIS-liberated areas are key,” he told CNBC in an interview from London, as will consumer consumption. “Iraq’s young population is hungry to catch up with the rest of the world after all the years of conflict,” he added.

As it stands, the stock market isn’t an ideal place to park money, Tabaqchali added, citing figures that show less than 20 percent of Iraq’s population holds an active bank account. Credit to the private sector currently stands at around 6.8 percent of 2014 growth, the fund manager said—which could benefit from the adoption of the “banking culture” that exists in more developed nations.

As the fog of war dissipates, telecommunications, mobile and Internet also stand to benefit, Tabaqchali added.

First, the war-torn country must guard its assets against terror and collateral damage, said Asha Mehta, lead portfolio manager of Acadian Asset Management, which holds around $70 billion under management) in developing market assets.

Currently, Iraq lacks a formal financial custodian that can hold funds. Without confidence that invested capital will be returned—and because Iraqi markets are generally illiquid—direct investment opportunities are limited for most investors.

However, Mehta points to recent positive developments that can ease investor concerns, including a financial lifeline from the International Monetary Fund, rising commodity prices and strong growth. Just this week, the IMF completed a review of a more than $5 billion tranche of funding that will immediately free up around $618 million.

It all creates what Mehta called “bottom up opportunities …[in] a volatile market.” The long-view requires not only patience, but a solid time horizon tied to real progress on the social front.

“Returns may be sentiment driven, so even thinly traded markets such as Iraq have the potential to boast strong returns. For example, progress on the military front in Iraq could be a catalyst for market level returns,” said Mehta.

http://www.cnbc.com/2016/12/11/how-some-investors-are-taking-the-long-view-of-iraq-despite-war.html

BGG ~ “…progress on the military front in Iraq could be a catalyst for market level returns,”…
I think they just told us what is about to happen.

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Iraq:

FIRST REVIEW OF THE THREE-YEAR STAND-BY ARRANGEMENT…AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR IRAQ (Very long…)

cr16379
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CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1252.447	1251.821
British pound	GBP	1493.339	1492.592
Canadian dollar	CAD	899.543	899.094
Swiss franc	CHF	1165.106	1164.523
Swedish krona	SEK	128.635	128.571
Norwegian krone	NOK	139.941	139.871
Danish krone	DKK	168.405	168.321
Japanese yen	JPY	10.234	10.229
Special Drawing Rights	SDR	1596.657	1595.859

Indicative rates – 12.13.2016

http://www.cbi.iq/

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www.DinarUpdates.com

Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-08-16 (most recent listing)

Currency Auctions Announcement No. 3335

This daily currency auction was held in the Central Bank of Iraq on the 12-08-2016

The results were as follows:

DETAILS	NOTES
Number of banks	35
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,531,438
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,531,438
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
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The function of wisdom is to discriminate between good and evil. – Marcus Tullius Cicero

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rcookie (Dinar Guru) –  Article:  “Central Bank Governor: no room to cancel the sale of the dollar window, if canceled , the exchange rate has become 3 or 4000 and maybe more”   Quote:  “He noted that the solution in Iraq lies in dollar demand reduction through structural correction of the Iraqi economy, and not through refraining from selling the dollar.”  [This means they have to make their currency aceptable in the world’s marketplace so there would be no need for the USD.]  THAT IS EXACTLY RIGHT!  ITS A PRETTY PAROCHIAL CONCEPT… ACHIEVE IQD STABILITY = REDUCE USD DEMAND IN MARKETPLACE…

Read More: http://www.dinarupdates.com/observer/

House of Representatives held complete the vote on the budget session, headed by al-Jubouri

Twilight News / parliamentary source said on the House of Representatives held its meeting on Wednesday chaired by Salim al-Jubouri, head of the Council for the completion of the vertebrae and the terms of the federal budget for fiscal year 2017.

The source told Twilight News, that the Presidency of the Council decided to hold the meeting after the completion of a quorum in the presence of 186 members from various parliamentary blocs.

Read More: http://www.dinarupdates.com/showthread.php?44297-House-of-Representatives-held-complete-the-vote-on-the-budget-session-12-7

Kaperoni (Dinar Guru) –   More great news! CBI announces the launch of mobile banking. Welcome to the 21st century Iraq!  Let me show a list of what occurred in last few days…mobile banking, electronic credit sharing, ATM’s, Allaq talks floating the dinar.  Not to mention the 2017 budget passed today. Is this Iraq? Lol.

Read More: http://www.dinarupdates.com/observer/
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Kaperoni (Dinar Guru) –   Nice. Good to see parliament accomplish something. 2017 budget now passed.

Read More: http://www.dinarupdates.com/observer/

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Nasiriyah is preparing for a demonstration against the arrest of al-Maliki and a number of activists

Detecting activists civilians in Dhi Qar, said Thursday their intention to organize a demonstration against the Vice President Nouri al – Maliki in conjunction with his visit to the province today, as they carried him responsible for the occupation of a large part of Iraq by Daesh and the blood of thousands of victims, confirmed the arrest of a group of them security forces were paving of the demonstration.

He said civil rights activist Gamal Jabbar in an interview (range Press), ” The activists of the province are preparing to organize a demonstration, in Haboubi Square Nasiriyah city center in the second hour of the afternoon, against Vice President Nouri al – Maliki in conjunction with his visit to the province, today , ” noting ” the activists called on people of the province to participate in the demonstration to express their rejection of Maliki ‘s visit.”

He said Jabbar, ” The demonstration comes to the fact that al – Maliki is to blame for the fall of large parts of the country fist organize Daesh and the killing of thousands of civilians and brass as a result of this, including the victims of the massacre Spyker and the victims of the popular crowd , ” stressing that “security force arrested a number of activists were paving of the demonstration, in Haboubi Square in central Nasiriyah. ”

Read More: http://www.dinarupdates.com/showthread.php?44342-Nasiriyah-is-preparing-for-a-demonstration-against-the-arrest-of-al-Maliki-and-a-numb
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Iraqi investment law .. moving in the opposite direction

Foreign investment is known as the WTO as a direct investment occurs when an investor has a resident in his native originally a productive in another country (the host country); the purpose of his administration described so kind of investments as long-term.

Investment property are included in foreign direct and play a role in the economies of the host countries, especially developing as an important source of funding, it is also an effective means of technology transfer and exploitation of natural resources, and the development of new methods of production and the development of modern methods and methods of economic management, and break the local monopoly, and enhancing national competitiveness, stimulate exports and open up markets new overseas.

And contribute to foreign investment to raise economic growth rates and increasing employment opportunities in the host country’s economy, which helps in the national effort to reduce the unemployment rate; therefore grew up competition between countries to attract investment property are included in foreign direct, but foreign investment alone can not create sustainable economic development Venjaha depends on creating real development and availability of a number of data, the most important macroeconomic stability components of the host country, such as associated with the liberalization of trade and exchange rate policies, and the availability of the catalyst level of investment structure.

Reflects the Foreign Investment Law No. 13/2006 on Iraq investment policy to encourage and organize R. A will of Arab and foreign funds in the context of public policy in the state and in line with the objectives and priorities of the national development strategy for the years 2004-2007, and the highlights of the law: the formation of a body called -haih investment – has a moral personality, represented by the President of the Commission or his nominee, and the Authority chairman of the rank of minister and deputy rank of Deputy Minister, strengthen confidence in the investment environment, identifying investment opportunities and stimulating investment in and promotion.

Simplification of the procedures for registration and license for investment projects and follow up on existing projects and giving them priority in processing with the official authorities and obtaining the required approvals and to advise and provide data and information to investors and to facilitate allocation of land needed and leasing of the establishment of the project wage determined by the Commission also included.

The law allowed the possibility of extracting capital and returns, introduced by the investor to Iraq provided it does not conflict with the provisions of the law and procedures composting ownership, tax, and that the project has obtained an investment license from the Commission of tax exemption and fees for a period of five years from the commercial operation start date and at different rates of between 25 % -75% according to the areas prescribed by law a-b-c by economic development and the nature of the activity.

The investor is not subject to the provisions of the law if they had invested in the extraction and production of oil and gas and investment in the sectors of banks and insurance companies.

And here arises specialists Whatever: Is a Question encourage foreign investment in Iraq at the required level, and why it favors foreign investment in the UAE, Lebanon or Jordan or Malaysia …. Instead of investing in Iraq?

Found in the Iraqi environment limitations and constraints and problematic expelling foreign direct investment, including the deterioration of infrastructure since the nineties of the last century as a result of the war and the siege imposed on Iraq, and the deterioration of the comprehensive and systematic destruction that took place after the events of 2003; to paralyze the economy, for example:

-qtaa Electricity: Statistics and estimates indicate the need for Iraq to 15 thousand MW and available now does not exceed (7.5) thousand megawatts and this means that there is a gap of more than 50%, despite the size of investment allocations for the period 2006- in 2012 , but the added power did not exceed a thousand megawatts, reflecting the state of the administrative and financial corruption in the electricity sector , which is defined as the lifeblood of economic development.

– Drinking water: Most reports indicate that 79% of Iraq ‘s population have access to improved water , which is a very low rate, and that most of Iraq ‘s rural population does not reach them clean of salt and contaminants of drinking water in addition to the 20% of the urban population does not have access to pure water. Reports also indicate weakness in the piped water networks, making the citizen depends on electric pumps.

– Sewage networks: confirms numerous reports and studies that 73% of Iraq ‘s population have access to sanitation services is a very low rate and this means that there is 27% of the population have not benefited from sanitation services, and if we take into account cities , including Baghdad residents the large number of them suffer poor sanitation services.

And suffer sewage networks many problems, especially Alteixrat because of their age and the misuse and lack of maintenance and lack of cooperation by the citizen making the water floating on the streets and parks , leaving a disease that increases the harm the constant power outages and the resulting stop for sewage pumps and other problems.

-Airports: Airports Iraq suffer the lack of a fleet of modern aircraft and leased aircraft remains the most ancient, which reflected negatively on the tourism and investment and thus on the national economy, as well as the lack of airports in several provinces.

– Rail: where any development did not happen in the field of railway or renewal train or services, whether passengers or the transfer of goods and services. The cover of the Iraqi railways about 1906 kilometers and exploiter of which 104 kilometers double Kskk and the age of most of these rail production between 60 to 80 years, except for two lines railing already established between 1978 and 1987, and at the present time, there is a service line and one for travelers between Baghdad and Basra. And because of the bad conditions of the railway and locomotives, the railways, the average speed of 50 km / h, and dominate oil products and wheat and military equipment on shipping by rail, which is deviation outside the railway track are common in the network run by the Iraqi railways company, despite that restrictions on speed.

– Methods of Transportation: Most of the roads are suffering within cities and between provinces of Alteixrat due to their age and poor maintenance, as well as being generated when the number of Iraq ‘s population does not exceed 12 million , and the volume of trade services is limited, according to the limited size of the population , but now forgave number (32) million.

The road network in Iraq , 53,000 kilometers, representing the highways and main roads 23% of them, and has been building the bulk of the network in the seventies and eighties of the twentieth century did not then subject to any maintenance work.

As for the legal side in Iraq, he suffers weak legal environment; the lack of laws and weakness or disable other laws as the law of competition and prevent monopoly, the National Product Protection Act, the Consumer Protection Act, the tariff composting ownership law, export subsidies law, trademark law, registration of companies and laws law standardization and quality control and quality, as well as the protection of intellectual property law. This package of laws and legislation when it is not activated give negative signals to foreign investors not to move towards the Iraqi environment.

Comparing between the Interim Constitution of 1968 and the new constitution of 2006, we find that Article 12 of Chapter Two in the Interim Constitution of 1968 states that the economic system aims to achieve socialism, indicate Article 14 of Chapter II that the natural resources owned by the state, indicate Article 15 the second door to the use of capital in serving the national economy that is not inconsistent with the use of the common good of the people.

According to Article 17 of Chapter II that private property is inviolable law regulates the performance of its social function, and indicate Article 18 of the same door that the law sets the upper limit of land ownership and accrues to the country has increased to the upper limit. Article 35 of Chapter II says that the right to education for all Iraqis guaranteed by the State to establish schools, colleges and universities and cultural and educational institutions. Article 37 of the same door and found that health care is a right guaranteed by the state to establish hospitals and health institutions.

The new constitution of 2006 stipulates Article 112 Second “to rely on the latest techniques of market principles and encouraging investment, says Article 111: The oil and gas are the property of all the Iraqi people in all the regions and provinces.

According to Article 25 that the state shall guarantee the reforming of the Iraqi economy according to modern economic bases, in a way that ensures complete investment of its resources, diversifying its sources and encouraging and developing the private sector, while article 26 that describes the state guarantee the encouragement of investment in different sectors, and is regulated by law.

The Article 23 says: that private property is inviolable and the owner is entitled use it, exploit and dispose of them, Article 23 says Second , it may not expropriation except for the public benefit in return for just compensation.

While confirming Article 23 Third: The Iraqi has the right to own property anywhere in Iraq Article 34 IV “that the private and public education is guaranteed and regulated Bakanon.oualemadh 31 , says Second: Individuals and entities have to build hospitals and clinics , or special treatment … this result in a comprehensive vision of the image which will take them to invest in the future of Iraq and which can be summarized Bmayle form:

1 – economic system, from socialism to capitalism.

An important turning point in the goal that investment will seek to achieve and that at the national level and this goal will be to move towards the free capitalist market economics uncontrolled self by supply and demand mechanisms in exchange for reducing the state ‘s role in the intervention of economic life (relying on the latest market- principles techniques Article 109 Second ” -), and here, the Constitution tells us to stay away from the realization of socialism and move closer to market principles.

2 – wealth from state ownership to the people of the permanent Iraqi constitution , seen as the subject of the ownership of natural resources , major (oil and gas) different look to look at the Constitution of 1968, as the new constitution indicates that the oil and gas belongs to the people – Article 108. While the wealth key was king State and this means that there is a change in the look of State to the property, from state ownership to individuals as if the Constitution is trying to give us the introductions for the transition from a totalitarian economic system to the economic system approaching from individual systems, as well as the van it means to move away from state control of resources and economic life and approaching based on individual initiative and allow market forces and economic system to take the largest space in contributing to the allocation of resources.

3 – investment, according to a market economy.

Constitution addressed the issue of investment in the permanent constitution in a different manner to the Constitution of 1968, where the new constitution referred to the phrase ( the state shall guarantee the reforming of the Iraqi economy according to modern economic bases, in a way that ensures complete investment of its resources, diversifying its sources and encouraging and developing the private sector).

The analysis of this article means that the state is determined to be the investment for the whole of Iraq ‘s economic resources according to the principles of market economy, which means that the state will not do is the investment process is chairman but that this task will be guaranteed to the private sector so that it will be the state ‘s role is supportive of investment – the role which Place , will be through the sector and not the role of the existing investment.

4 – domestic and foreign investment, his unbridled This signal seems clear in the new constitution and these relate to invest in different sectors (state guarantees to encourage investment in various sectors -almadh 26) This means that there is no constitutional objection to invest in all sectors , including strategic , well, there is no constitutional objection to investment whether local or foreign, in other words , it does not hurt to do foreign investment in the economy.

5 – the private sector, leading the economic reform process.

Constitution focused on the important issue is the role of the private sector in carrying out the reform of the Iraqi economy, the introduction of a new term which is a term economic reform, which has to do with the private sector based on market economy.

All of these reasons is a barrier made of Iraq ‘s economic environment is favorable for investment either in terms of self – causes associated with developed countries , and its monopoly and preventing the orientation of foreign investment.

1. Most of the developed countries and companies suffer the monopoly of the large surplus in production, which is searching for markets for their surplus, and Iraq, one of the markets important consumer nature of the Iraqi people and the size of the population, as well as high purchasing power, how directed investments to Iraq and produce goods and services that could compete with goods produced in developed countries.

2. will not enter direct foreign investment to the agricultural sector to produce food for political and economic monopoly of the reasons, in order to keep Iraq as well as developing countries in need of food imported from developed countries produced, as the monopolistic companies suffer a surplus of food great, and searching for markets to dispose of, how can they come to Iraq produces food.

3. The political considerations of direct foreign investments to Iraq will not tend to keep the political extension of Western countries, particularly the United States.

4. Iraq is the second country in terms of oil reserves, estimated at 145 billion barrels, so The outline remains Iraq exports oil and imports of food and everything needed goods and services. And manpower in Iraq workforce is unemployed and possess the skills and competencies and experience what it takes to work for foreign companies and low wages compared to labor inflows from abroad, and the best example of one of the mobile phone companies that give the Egyptian engineer (800-1000) per month excluding housing while earns Iraqi engineer (300-400) per month.

In spite of all the reported that the Iraqi environment is favorable and encouraging foreign direct investment, which means it repulsive to him, due to lack of infrastructure, which leads to higher production and lower quantities of the costs, administrative and financial corruption, which complicates things and raise costs in the shadow of the absence of legal environment, and the lack of some of the laws and the weakness of the other, and the weakness of the effectiveness of economic policies and the lack of clarity in the economic program of the government, all of this will claim to increase the risk on the one hand, and low return on investment on the other.

The investment in Jordan , we find there are many pull factors, including: the Investment Promotion Law and the treatment of the investor is Jordan ‘s treatment of the Jordanian investor giving him the right to invest in the Kingdom of ownership or to participate or contribute in any economic project, it is not permissible to own the entire project within a certain business services sectors construction and contracting, and investor absolute right to his management style , which he saw as persons who are selected for this administration.

The Investment Promotion Law No. (16) for Jordan in 1995 an appropriate legislative framework to attract foreign investment and domestic stimulus, the tenor of the benefits, incentives and guarantees for investment laws at the regional level, providing customs and tax exemptions for investment projects within the following sectors: industry, agriculture, hotels, hospitals, maritime transport, railways, cities entertainment and leisure tourism and convention centers.

In Dubai, the success of investments due to several factors , including Decree No. 2 of 2002 , the establishment of Dubai to attract investment and development as it was established more than 34 free trade zone in the UAE attracts investors from around the world, including the Jebel Ali Free Zone one of the fastest global growth as one one of the fastest free zones growing on a global level, as provided incentives for many successes achieved during the past years where he recorded a growth in the customer base reached 60% during the past four years, also recorded an average growth of 34% per year in revenue, in addition to providing more than 160 thousand jobs Emirates economy, the flow of foreign direct investments to the UAE.

Free zones for investors in the UAE and provides a range of important facilities sought by most of them, namely:

1. an absolute monarchy to foreign companies, tax exemptions on imports and exports, and the lack of restrictions on the currency and the free movement of capital, and also provides a transaction to obtain authorization procedures within 24 hours, and provide the best terms and conditions ideal for business and enterprise, distinctive infrastructure facilities, facilitating sponsorship and visas for all employees and staff procedures, and the completion of the transaction as soon as possible through a single window, allowing for products that produce free zones trade in the domestic market through a proxy. These are all considered to attract investment into the country factors.

And here we get to that on the Iraqi government’s review of the proposed strategy for 2006 to attract foreign country’s investments in which they can convert the investment environment in Iraq by expelling environment for investments into an attractive environment for the organization of the legal environment and to reconsider legislation that existed before the occupation with the Cancel (Bremer) Investment and legislation of new investment laws encourage national, Arab and foreign direct investment, as well as legislation to a package of laws such as the protection of physical and intellectual property rights, consumer protection, competition and antitrust, tariffs, export subsidies and trade mark law in order to ensure the event to reassure the investor on the one hand and preserving the national aspects and economic.

Shatha Khalil

Read More: http://www.dinarupdates.com/showthread.php?44350-Iraqi-investment-law-moving-in-the-opposite-direction-12-8&p=166335#post166335

______________________________________________________________

Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
______________________________________________________________

CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1268.286	1267.652
British pound	GBP	1488.493	1487.748
Canadian dollar	CAD	891.941	891.495
Swiss franc	CHF	1170.065	1169.480
Swedish krona	SEK	129.693	129.629
Norwegian krone	NOK	141.065	140.995
Danish krone	DKK	170.518	170.433
Japanese yen	JPY	10.346	10.341
Special Drawing Rights	SDR	1604.199	1603.396

Indicative rates – 12.08.2016

http://www.cbi.iq/

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

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Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-07-16 (most recent listing)

Currency Auctions Announcement No. 3334

This daily currency auction was held in the Central Bank of Iraq on the 12-07-2016

The results were as follows:

DETAILS	NOTES
Number of banks	35
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,580,002
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,580,002
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
______________________________________________________________

Everyone thinks of changing the world, but no one thinks of changing himself. – Leo Tolstoy

*** Current News ***

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Kaperoni (Dinar Guru) –   Nice. Good to see parliament accomplish something. 2017 budget now passed.

Read More: http://www.dinarupdates.com/observer/

House of Representatives held complete the vote on the budget session, headed by al-Jubouri

Twilight News / parliamentary source said on the House of Representatives held its meeting on Wednesday chaired by Salim al-Jubouri, head of the Council for the completion of the vertebrae and the terms of the federal budget for fiscal year 2017.

The source told Twilight News, that the Presidency of the Council decided to hold the meeting after the completion of a quorum in the presence of 186 members from various parliamentary blocs.

Read More: http://www.dinarupdates.com/showthread.php?44297-House-of-Representatives-held-complete-the-vote-on-the-budget-session-12-7

BGG (Dinar Guru) –   …there is SOOOOO much great financial / economic / legal news… lately…how can we NOT be really jazzed about where things are?  The general consensus – we are in a VERY SHORT window… things are moving fast for Iraq right now...

Read More: http://www.dinarupdates.com/observer/
______________________________________________________________

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rcookie (Dinar Guru) –    THE IMF REVIEW IS A CHECK AGAINST IRAQS COMPLIANCE TO FISCAL REFORM COMMITMENTS…IRAQ MADE IN MAY (AHMAN,JORDAN) IN ORDER TO BE APPROVED FOR THE 1ST PART OF SBA FUNDS ACCESS…THE COMPLIANCE CHECK AGAINST FULLFILLMENT CAN ONLY COME FROM 1 SOURCE…   [Passing the budget and passing laws?]  THEY HAVE BY ALL REPORT ACCOUNTS MET THE REQUIRED REVENUE & EXPENDITURE MANDATES IN THE APPROVED DRAFT OF THE 2017 BUDGET LAW…BUT STILL REMAINS A REPORT UNTIL IT IS VOTED INTO LAW…  [part 1 of 2….stay tuned]

Read More: http://www.dinarupdates.com/observer/

______________________________________________________________

House of Representatives approve the budget in 2017 has unanimously

Baghdad / term – After marathon negotiations fought political blocs throughout the day on Sunday, the House of Representatives voted on the general budget for 2017.

And wrangles final day postpone the parliament session, which was scheduled at five o’clock in the evening, more than once, until they were held at eight o’clock and lasted into late.

And it passed the House of Representatives, in the evening session, with revenues estimated 79.11 trillion Iraqi dinars budget, and a deficit of 21 trillion dinars. It was calculated as the rate of $ 42 for a barrel of a basic source of oil, of which the export of 3.7 million barrels per day, including 250 thousand barrels of the Kurdistan region of oil and 300 thousand barrels of Kirkuk. Parliament also voted to allocate $ 5 for every barrel of oil to the provinces.

The session witnessed the withdrawal of the Kurdistan Democratic bloc in protest against the non-inclusion of the Peshmerga forces allocations in Article IX, which determine the share of the Kurdistan region.

Article 9 / I that “determines the share of the Kurdistan region of 17% Seventeen percent of the actual total expenditures shown in (Table / d expenditures ruling) attached to this law and paid by the Federal Ministry of Finance and the approval of the Prime Minister.”

Article 11 of the Budget also provides that “re-examined in the share of the Kurdistan region and governorates not organized in a region in the federal budget for the year 2017 and beyond in light of the results of statistics and the census for the year 2017 to be in the light of determining the actual amount of the share of the region or province are not organized in region in the federal budget for the year / 2018 and display the difference on the Federal Council of Ministers of settlement. “.

Parliament also voted on Article 19, which prohibits the three presidencies appointments and the return of all of its members to their constituencies. Paragraph c of the same article, “Stop appointments in the three presidencies (the House of Representatives, the Presidency, the General Secretariat of the Council of Ministers and the Prime Minister’s Office), and the agencies and departments its subsidiaries, and may not be transferred services or placement at it from the ministries with the return of all employees of the ministries to their constituencies. “.

Article 33 also included a provision for the deduction of 3.8% from the salaries of state employees in general to cover the popular crowd and displaced expenses and compel the Kurdistan Regional Government to deduct the same percentage of the county staff.

Read More: http://www.dinarupdates.com/showthread.php?44162-House-of-Representatives-approve-the-budget-in-2017-has-unanimously&p=166071#post166071
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IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement

• IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program
• The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption
• Significantly improving public financial management will be important

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The Board also completed financing assurances review under the SBA. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval) was approved in July, 2016 (See Press Release No. 16/321) . The Board’s approval enables the disbursement of SDR 455 million (about US$617.8 million).

As part of the completion of the first review, the Board also approved Iraq’s request for a waiver for the non-observance of the continuous ceiling on new external arrears, and request to modify performance criteria. The Board also approved the request for a waiver of applicability for end of September targets of four performance criteria on the floor on gross international reserves (GIR) of the Central Bank of Iraq (CBI), the ceiling on net domestic assets (NDA) of the CBI, the ceiling on the stock of outstanding arrears to international oil companies and the ceiling on the stock of gross public debt, as well as a request for the rephasing of the arrangement.

Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.

Following the Executive Board’s decision, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement:

“The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. In the external area, the authorities are maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been mixed; however, understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation, together with strong international support, will be key.

“The revised fiscal program in 2016 and the draft budget in 2017 are aligned with the SBA. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure, including the payroll and pension payments, and reforming the electricity sector, subsidies, and state-owned enterprises, in order to make room for larger but more effective and efficient investment expenditure that is conducive to growth.

“Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.

“Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating exchange restrictions. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.

“Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.”

Read More: http://www.dinarupdates.com/showthread.php?44194-IMF-Executive-Board-Completes-First-Review-of-Iraq%92s-Stand-By-Arrangement-12-5&p=166116#post166116

______________________________________________________________

Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
______________________________________________________________

CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1268.759	1268.124
British pound	GBP	1507.523	1506.769
Canadian dollar	CAD	889.993	889.548
Swiss franc	CHF	1171.805	1171.219
Swedish krona	SEK	129.632	129.567
Norwegian krone	NOK	141.283	141.212
Danish krone	DKK	170.568	170.482
Japanese yen	JPY	10.398	10.392
Special Drawing Rights	SDR	1607.248	1606.445

Indicative rates – 12.07.2016

http://www.cbi.iq/

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-06-16 (most recent listing)

Currency Auctions Announcement No. 3333

This daily currency auction was held in the Central Bank of Iraq on the 12-06-2016

The results were as follows:

DETAILS	NOTES
Number of banks	36
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,044,142
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,044,142
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
______________________________________________________________

Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted. – R.W. Emerson

*** Current News ***

Follow us on twitter @DinarUpdates !!

Don’t MISS – “DU NEWS TIME” w/MadDScout, 1 Booby & More!! – Dec. 8th 7:30pm EST – In DU CHAT!!

www.DinarUpdates.com – save as favorite

Kaperoni (Dinar Guru) –   Article:   “Finally .. withdraw your money in Iraq from ATM”  Quote:  “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.”  Good news.  Project “chucked” or project “divide” whatever you want to call it has been talked about for several years. Finally, it is operational.  ATM’S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq’s banking system online and up to speed with the rest of the world.  For those who say “Iraq never accomplishes anything,” this is a milestone.

Read More: http://www.dinarupdates.com/observer/

Central bank: we have stopped hundreds of companies after the discovery of corruption

CBI administration has warned of the repercussions of non-compliance with the legislation of laws and regulations to combat money and risks in creating channels for laundering financing of terrorism offenses.

He said the central bank governor on the Keywords, during a press conference on the sidelines of the Forum of compliance and anti-money laundering and terrorism financing in Iraqi banks and financial institutions, that “Iraq’s banking and financial institutions, compliance with anti-money laundering and financing of terrorism.”

He noted that the “Law No. 39 of 2015 represents a broad framework and whatever is built on the basis of what has been agreed upon with international organizations concerned with this issue.”

“The CBI has issued a set of instructions and regulations in light of this law in the financial institutions and other groups concerned with this law the banking sector.”

He Keywords that “the success of the application of the law depends largely on the nature of the deal that banking institutions with different parties, especially foreign ones,” while warning that “the risks entailed in not adhering to this law facilitates the work of the special operations of money laundering channels or various other crimes to finance terrorism “.

He stressed that “the central bank gave priority to the issue of the closure of the ports for the financing of terrorism, it has succeeded to a large extent in this context, during the last two years we have stopped hundreds of financial institutions and companies from the exercise of its work due to our discovery of the existence of cases involving suspicions of and in coordination with international parties.”

He continued, “We have developed a program linked to the international system to prosecute remittances, there are a large part of an electronic program and part of it was developed by an international audit offices with international companies.”

“The fight against money laundering and terrorist financing, the Office deals directly with the judiciary, even without the intervention of the central bank in a lot of cases that carry legal suspicions,” stressing that “these issues are fully confidential and direct follow-up between the office and the prosecution.”

In turn, head of the Iraqi private banks association Wadih Handal said during the conference that “one of the European banks halted dealings with Iraq based on irresponsible remarks of some politicians.”

Read More: http://www.dinarupdates.com/showthread.php?44165-Central-bank-we-have-stopped-hundreds-of-companies-after-the-discovery-of-corruption

BGG (Dinar Guru) –  Article:  “Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil”   Isn’t this a little like “Water is wet”…or “we’ve agreed to do everything we’ve already agreed to do…”… correctly this time…the fact of the matter is this… the IMF is looking over their shoulder – they HAVE TO GET THIS DONE… 

Read More: http://www.dinarupdates.com/observer/
______________________________________________________________

Dinar Updates – “The After Call!!”
from Mon. nite – Dec 5th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

______________________________________________________________

BGG (Dinar Guru) –   Article:  “Urgent Jubouri declared the readiness of the budget and printed for a vote”   they have been working on it….it will happen…they HAVE TO – IMF is likely pushing this. [sounds like they are voting on it now…as we speak.]  That is what I gathered… however, we are a world away and this is Iraq… we should wait and see.

Read More: http://www.dinarupdates.com/observer/

______________________________________________________________

House of Representatives approve the budget in 2017 has unanimously

Baghdad / term – After marathon negotiations fought political blocs throughout the day on Sunday, the House of Representatives voted on the general budget for 2017.

And wrangles final day postpone the parliament session, which was scheduled at five o’clock in the evening, more than once, until they were held at eight o’clock and lasted into late.

And it passed the House of Representatives, in the evening session, with revenues estimated 79.11 trillion Iraqi dinars budget, and a deficit of 21 trillion dinars. It was calculated as the rate of $ 42 for a barrel of a basic source of oil, of which the export of 3.7 million barrels per day, including 250 thousand barrels of the Kurdistan region of oil and 300 thousand barrels of Kirkuk. Parliament also voted to allocate $ 5 for every barrel of oil to the provinces.

The session witnessed the withdrawal of the Kurdistan Democratic bloc in protest against the non-inclusion of the Peshmerga forces allocations in Article IX, which determine the share of the Kurdistan region.

Article 9 / I that “determines the share of the Kurdistan region of 17% Seventeen percent of the actual total expenditures shown in (Table / d expenditures ruling) attached to this law and paid by the Federal Ministry of Finance and the approval of the Prime Minister.”

Article 11 of the Budget also provides that “re-examined in the share of the Kurdistan region and governorates not organized in a region in the federal budget for the year 2017 and beyond in light of the results of statistics and the census for the year 2017 to be in the light of determining the actual amount of the share of the region or province are not organized in region in the federal budget for the year / 2018 and display the difference on the Federal Council of Ministers of settlement. “.

Parliament also voted on Article 19, which prohibits the three presidencies appointments and the return of all of its members to their constituencies. Paragraph c of the same article, “Stop appointments in the three presidencies (the House of Representatives, the Presidency, the General Secretariat of the Council of Ministers and the Prime Minister’s Office), and the agencies and departments its subsidiaries, and may not be transferred services or placement at it from the ministries with the return of all employees of the ministries to their constituencies. “.

Article 33 also included a provision for the deduction of 3.8% from the salaries of state employees in general to cover the popular crowd and displaced expenses and compel the Kurdistan Regional Government to deduct the same percentage of the county staff.

Read More: http://www.dinarupdates.com/showthread.php?44162-House-of-Representatives-approve-the-budget-in-2017-has-unanimously&p=166071#post166071
______________________________________________________________

Be sure to join the Dinar Updates “private” FaceBook Group…

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(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________

IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement

• IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program
• The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption
• Significantly improving public financial management will be important

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The Board also completed financing assurances review under the SBA. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval) was approved in July, 2016 (See Press Release No. 16/321) . The Board’s approval enables the disbursement of SDR 455 million (about US$617.8 million).

As part of the completion of the first review, the Board also approved Iraq’s request for a waiver for the non-observance of the continuous ceiling on new external arrears, and request to modify performance criteria. The Board also approved the request for a waiver of applicability for end of September targets of four performance criteria on the floor on gross international reserves (GIR) of the Central Bank of Iraq (CBI), the ceiling on net domestic assets (NDA) of the CBI, the ceiling on the stock of outstanding arrears to international oil companies and the ceiling on the stock of gross public debt, as well as a request for the rephasing of the arrangement.

Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.

Following the Executive Board’s decision, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement:

“The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. In the external area, the authorities are maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been mixed; however, understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation, together with strong international support, will be key.

“The revised fiscal program in 2016 and the draft budget in 2017 are aligned with the SBA. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure, including the payroll and pension payments, and reforming the electricity sector, subsidies, and state-owned enterprises, in order to make room for larger but more effective and efficient investment expenditure that is conducive to growth.

“Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.

“Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating exchange restrictions. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.

“Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.”

Read More: http://www.dinarupdates.com/showthread.php?44194-IMF-Executive-Board-Completes-First-Review-of-Iraq%92s-Stand-By-Arrangement-12-5&p=166116#post166116

______________________________________________________________

Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
______________________________________________________________

CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1264.976	1264.344
British pound	GBP	1504.922	1504.170
Canadian dollar	CAD	890.597	890.151
Swiss franc	CHF	1170.529	1169.944
Swedish krona	SEK	128.584	128.520
Norwegian krone	NOK	140.803	140.733
Danish krone	DKK	170.033	169.948
Japanese yen	JPY	10.387	10.381
Special Drawing Rights	SDR	1604.931	1604.129

Indicative rates – 12.06.2016

http://www.cbi.iq/

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-05-16 (most recent listing)

Currency Auctions Announcement No. 3332

This daily currency auction was held in the Central Bank of Iraq on the 12-05-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	148,733,574
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	148,733,574
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
______________________________________________________________

Let me never fall into the vulgar mistake of dreaming that I am persecuted whenever I am contradicted. – R.W. Emerson

*** Current News ***

Follow us on twitter @DinarUpdates !!

Don’t MISS – “DU NEWS TIME” w/RCookie, Mr White, Hutch and MORE – Dec. 5th 7:30pm EST – In DU CHAT!!

www.DinarUpdates.com – save as favorite

Kaperoni (Dinar Guru) –   Article:   “Finally .. withdraw your money in Iraq from ATM”  Quote:  “CBI launched the National divider that allows the holder of a credit card issued by a state bank and a special withdraw money from any automated teller machine ATM is widespread across the country.”  Good news.  Project “chucked” or project “divide” whatever you want to call it has been talked about for several years. Finally, it is operational.  ATM’S are now active in Iraq! Woo-hoo. This is a critical step towards bringing Iraq’s banking system online and up to speed with the rest of the world.  For those who say “Iraq never accomplishes anything,” this is a milestone.

Read More: http://www.dinarupdates.com/observer/

Central bank: we have stopped hundreds of companies after the discovery of corruption

CBI administration has warned of the repercussions of non-compliance with the legislation of laws and regulations to combat money and risks in creating channels for laundering financing of terrorism offenses.

He said the central bank governor on the Keywords, during a press conference on the sidelines of the Forum of compliance and anti-money laundering and terrorism financing in Iraqi banks and financial institutions, that “Iraq’s banking and financial institutions, compliance with anti-money laundering and financing of terrorism.”

He noted that the “Law No. 39 of 2015 represents a broad framework and whatever is built on the basis of what has been agreed upon with international organizations concerned with this issue.”

“The CBI has issued a set of instructions and regulations in light of this law in the financial institutions and other groups concerned with this law the banking sector.”

He Keywords that “the success of the application of the law depends largely on the nature of the deal that banking institutions with different parties, especially foreign ones,” while warning that “the risks entailed in not adhering to this law facilitates the work of the special operations of money laundering channels or various other crimes to finance terrorism “.

He stressed that “the central bank gave priority to the issue of the closure of the ports for the financing of terrorism, it has succeeded to a large extent in this context, during the last two years we have stopped hundreds of financial institutions and companies from the exercise of its work due to our discovery of the existence of cases involving suspicions of and in coordination with international parties.”

He continued, “We have developed a program linked to the international system to prosecute remittances, there are a large part of an electronic program and part of it was developed by an international audit offices with international companies.”

“The fight against money laundering and terrorist financing, the Office deals directly with the judiciary, even without the intervention of the central bank in a lot of cases that carry legal suspicions,” stressing that “these issues are fully confidential and direct follow-up between the office and the prosecution.”

In turn, head of the Iraqi private banks association Wadih Handal said during the conference that “one of the European banks halted dealings with Iraq based on irresponsible remarks of some politicians.”

Read More: http://www.dinarupdates.com/showthread.php?44165-Central-bank-we-have-stopped-hundreds-of-companies-after-the-discovery-of-corruption

BGG (Dinar Guru) –  Article:  “Iraqi parliament accepts proposal to pay Kurdish gov’t employees in return for oil”   Isn’t this a little like “Water is wet”…or “we’ve agreed to do everything we’ve already agreed to do…”… correctly this time…the fact of the matter is this… the IMF is looking over their shoulder – they HAVE TO GET THIS DONE… 

Read More: http://www.dinarupdates.com/observer/
______________________________________________________________

Dinar Updates – “The After Call!!”
from Mon. nite – Dec 5th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

______________________________________________________________

BGG (Dinar Guru) –   Article:  “Urgent Jubouri declared the readiness of the budget and printed for a vote”   they have been working on it….it will happen…they HAVE TO – IMF is likely pushing this. [sounds like they are voting on it now…as we speak.]  That is what I gathered… however, we are a world away and this is Iraq… we should wait and see.

Read More: http://www.dinarupdates.com/observer/

______________________________________________________________

House of Representatives approve the budget in 2017 has unanimously

Baghdad / term – After marathon negotiations fought political blocs throughout the day on Sunday, the House of Representatives voted on the general budget for 2017.

And wrangles final day postpone the parliament session, which was scheduled at five o’clock in the evening, more than once, until they were held at eight o’clock and lasted into late.

And it passed the House of Representatives, in the evening session, with revenues estimated 79.11 trillion Iraqi dinars budget, and a deficit of 21 trillion dinars. It was calculated as the rate of $ 42 for a barrel of a basic source of oil, of which the export of 3.7 million barrels per day, including 250 thousand barrels of the Kurdistan region of oil and 300 thousand barrels of Kirkuk. Parliament also voted to allocate $ 5 for every barrel of oil to the provinces.

The session witnessed the withdrawal of the Kurdistan Democratic bloc in protest against the non-inclusion of the Peshmerga forces allocations in Article IX, which determine the share of the Kurdistan region.

Article 9 / I that “determines the share of the Kurdistan region of 17% Seventeen percent of the actual total expenditures shown in (Table / d expenditures ruling) attached to this law and paid by the Federal Ministry of Finance and the approval of the Prime Minister.”

Article 11 of the Budget also provides that “re-examined in the share of the Kurdistan region and governorates not organized in a region in the federal budget for the year 2017 and beyond in light of the results of statistics and the census for the year 2017 to be in the light of determining the actual amount of the share of the region or province are not organized in region in the federal budget for the year / 2018 and display the difference on the Federal Council of Ministers of settlement. “.

Parliament also voted on Article 19, which prohibits the three presidencies appointments and the return of all of its members to their constituencies. Paragraph c of the same article, “Stop appointments in the three presidencies (the House of Representatives, the Presidency, the General Secretariat of the Council of Ministers and the Prime Minister’s Office), and the agencies and departments its subsidiaries, and may not be transferred services or placement at it from the ministries with the return of all employees of the ministries to their constituencies. “.

Article 33 also included a provision for the deduction of 3.8% from the salaries of state employees in general to cover the popular crowd and displaced expenses and compel the Kurdistan Regional Government to deduct the same percentage of the county staff.

Read More: http://www.dinarupdates.com/showthread.php?44162-House-of-Representatives-approve-the-budget-in-2017-has-unanimously&p=166071#post166071
______________________________________________________________

Be sure to join the Dinar Updates “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________

IMF Executive Board Completes First Review of Iraq’s Stand-By Arrangement

• IMF disburses about US$617.8 million following completion of first review of Iraq’s reform program
• The IMF-supported program includes measures to protect the poor, enhance financial sector stability, and curb corruption
• Significantly improving public financial management will be important

The Executive Board of the International Monetary Fund (IMF) today completed the first review of Iraq’s three-year Stand-By Arrangement (SBA), which is designed to support Iraq’s economic reform program and restore fiscal balance over the medium term. The Board also completed financing assurances review under the SBA. The SDR 3.831 billion arrangement (about US$5.34 billion at the time of approval) was approved in July, 2016 (See Press Release No. 16/321) . The Board’s approval enables the disbursement of SDR 455 million (about US$617.8 million).

As part of the completion of the first review, the Board also approved Iraq’s request for a waiver for the non-observance of the continuous ceiling on new external arrears, and request to modify performance criteria. The Board also approved the request for a waiver of applicability for end of September targets of four performance criteria on the floor on gross international reserves (GIR) of the Central Bank of Iraq (CBI), the ceiling on net domestic assets (NDA) of the CBI, the ceiling on the stock of outstanding arrears to international oil companies and the ceiling on the stock of gross public debt, as well as a request for the rephasing of the arrangement.

Iraq’s economic reform program supported by the SBA aims to address the urgent balance of payments need, bring spending in line with lower global oil prices, and ensure debt sustainability. The program also includes measures to protect the poor, strengthen public financial management, enhance financial sector stability, and curb corruption. Iraq will require the support of the international community to implement these policies.

Following the Executive Board’s decision, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair of the Board, issued the following statement:

“The economic policies implemented by the Iraqi authorities to deal with the shocks facing Iraq—the armed conflict with ISIS and the ensuing humanitarian crisis and the collapse in oil prices—are appropriate. In the fiscal area, the authorities are implementing a sizable fiscal adjustment, mostly through retrenchment of inefficient capital expenditure while protecting social spending. In the external area, the authorities are maintaining the peg of the Iraqi dinar to the U.S. dollar, which provides a key anchor to the economy. Performance under the Stand-By Arrangement has been mixed; however, understandings have been reached on sufficient corrective actions to keep the program on track. Resolute implementation, together with strong international support, will be key.

“The revised fiscal program in 2016 and the draft budget in 2017 are aligned with the SBA. The composition of the fiscal adjustment should be improved over time by increasing non-oil revenue and reducing current expenditure, including the payroll and pension payments, and reforming the electricity sector, subsidies, and state-owned enterprises, in order to make room for larger but more effective and efficient investment expenditure that is conducive to growth.

“Significantly improving public financial management will be important. Arrears need to be assessed and paid following verification, and expenditure commitment and cash management should be strengthened to prevent the accumulation of new arrears.

“Measures to bolster financial sector stability include strengthening the legal framework of the Central Bank of Iraq, restructuring state-owned banks, and eliminating exchange restrictions. Measures to prevent money-laundering, counter the financing of terrorism, and strengthen the anti-corruption legislation also need to be implemented.

“Implementation of the budget-sharing agreement with the Kurdistan Regional Government would put both the federal government and the Kurdistan Regional Government in a better position to address the shocks to the Iraqi economy.”

Read More: http://www.dinarupdates.com/showthread.php?44194-IMF-Executive-Board-Completes-First-Review-of-Iraq%92s-Stand-By-Arrangement-12-5&p=166116#post166116

______________________________________________________________

Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
______________________________________________________________

CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1257.884	1257.255
British pound	GBP	1491.684	1490.938
Canadian dollar	CAD	888.855	888.411
Swiss franc	CHF	1168.331	1167.746
Swedish krona	SEK	128.277	128.213
Norwegian krone	NOK	139.983	139.913
Danish krone	DKK	169.075	168.990
Japanese yen	JPY	10.393	10.388
Special Drawing Rights	SDR	1601.752	1600.951

Indicative rates – 12.05.2016

http://www.cbi.iq/

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-04-16 (most recent listing)

Currency Auctions Announcement No. 3331

This daily currency auction was held in the Central Bank of Iraq on the 12-04-2016

The results were as follows:

DETAILS	NOTES
Number of banks	34
Number of remittance companies	14
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	150,152,573
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	150,152,573
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
______________________________________________________________

Fear of the state is in no sense subversive. It is, to the contrary, the healthiest political philosophy for a free people. – Jeff Cooper

*** Current News ***

Follow us on twitter @DinarUpdates !!

Don’t MISS – “DU NEWS TIME” w/BGG & Company – Dec. 4th 7:30pm EST – In DU CHAT!!

www.DinarUpdates.com – save as favorite

rcookie (Dinar Guru) –  JUST READ THIS HEADLINE… “Jubouri: Parliament ongoing legal legislation in which they can change the reality of this country“   NUFF SAID…

Read More: http://www.dinarupdates.com/observer/

Speaker of Parliament adheres to pass the budget session today, even if held an extra session

East News – A parliamentary source revealed, on Thursday, on the insistence of House Speaker Salim al – Jubouri, to pass a federal budget law during today ‘s meeting.

The source said in Tbart to’alcherqah News’, said that ‘Parliament Speaker Salim al – Jubouri, adheres to pass a federal budget for the 2017 law during the parliamentary session for the day, so that was an extra session was held in the evening.’

Alsharqiaa.com

Kaperoni (Dinar Guru) –   Article:  “Keywords: our agreement with the United States aims to prevent the financing of terrorism, money laundering and delete deferred zeros”  Quote:  “…the bank will start applying the certified standards internationally in this regard the beginning of December next, with the exception that the process of removing zeros from the local process requires the availability of appropriate conditions, including the general stability in the country, he pointed out that the bank continues to technical preparations in this regard.”   …the CBI is stating, were not ready to delete the zeros yet, but we are moving the banking system forward to engage with the global banking system.  Does anyone see the importance of this?  It is another clear sign that the CBI has no intention to LOP the dinar.  If they did, they would certainly do it prior to bringing the world’s financial system into play. Stating it as they do, IMO only confirms that they intent to raise the value of the dinar as we have stated for years.

Read More: http://www.dinarupdates.com/observer/
______________________________________________________________

Dinar Updates – “The After Call!!”
from Wed. nite – Nov 30th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

______________________________________________________________

rcookie   …ALAK….SALEH AND FINANCE COMMITTEE MEMBERS HAVE OUTLINED 7 LAWS IN ADDITION TO THE INVESTMENT LAW AND OTHER ECONOMIC & FINANCIAL ACTS IN NEED OF AMENDING… 
1. CENTRAL BANK LAW NO. 56 (2004)
2. FEDERAL BANKING LAW NO. 94 (2004)
3. COMPANIES LAW NO. 21 (1997)
4. IRAQI STOCK EXCHANGE LAW NO. 74 (2004)
5. FINANCIAL ADMINISTRATION ACT
6. INTEGRITY COMMISSION ACT
7. PFM LAW AMENDMENT & INCORPORATION TO 2017 BUDGET LAW

Read More: http://www.dinarupdates.com/observer/

______________________________________________________________

Parliamentary Finance re – codification of the final draft of the budget law

BAGHDAD – The Journal News – Parliamentary Finance Committee began re-codification and tabulation draft of the budget bill, again to put to the vote in the parliamentary session on Thursday.

The committee member said Abdul Qader Mohammed in a press statement, Wednesday that the overall budget debate is over, and has reviewed and changes to the items that were added to the paragraphs of the draft budget law.

He noted that the remaining part we only have regard to the new proposals, which will be added to the budget later after a meeting of leaders of blocs and the Presidium of the parliament with the committees concerned.

He added that the Finance Committee began re-codification and tabulation draft of the full budget of the new exposure draft in the parliament session on Thursday, noting that the committee will be handed a copy of the final draft of the budget to the political blocs to show recent observations and the possibility of adding them before the voting session date.

He said the budget received from the compressed and reduced government basically, did not find an outlet appropriate parliamentary committee that can put its mark on the legislative bill.

The House of Representatives postponed a vote on the draft general budget of the federal law in 2017 to its slated for Thursday, until the completion of the terms of the Finance Committee bill discussions.

Read More: http://www.dinarupdates.com/forumdisplay.php?16-DU-Daily-Chat-Log
______________________________________________________________

Be sure to join the Dinar Updates “private” FaceBook Group…

https://www.facebook.com/groups/571383766355188/

(go here and ask to join… then add some Dinar Friends!!)
______________________________________________________________

Keywords: our agreement with the United States aims to prevent the financing of terrorism, money laundering and delete deferred zeros

Long-Presse / Baghdad – The governor of the Central Bank and the Agency on the Keywords, on Wednesday, that the agreement signed by the United States aims to cut off funding for the organization (Daesh) and other “terrorist organizations and prevent money laundering,” and pointed out that the bank will start applying the certified standards internationally in this regard the beginning of December next, with the exception that the process of removing zeros from the local process requires the availability of appropriate conditions, including the general stability in the country, he pointed out that the bank continues to technical preparations in this regard.

Ali said the Keywords, in an interview to the (long-Presse), “The first agreement of its kind between the Federal Reserve Bank and the US Treasury on the one hand and the Central Bank of Iraq, on the other hand, entered into to control the dollar remittances and ensure the prevention of access to illicit destinations,” noting that those “The agreement includes cooperation, coordination and exchange of information and financial data relating to the sale of foreign currency and circulation.”

He added Keywords, “The agreement aims to prevent the arrival of foreign currency to Daesh and terrorist organizations, by ensuring and verifying that the financial and banking institutions that you purchase does not involve money laundering or terrorist financing,” adding, “The control mechanisms include a number of the most important procedures , building databases and integrated electronic system that collects dollar selling window operations rather than paper processes. ”

He said the central bank governor and the agency, that “mechanisms also include the introduction of a program (OFAC List) to verify that the persons and entities prohibited to deal with them globally and to ensure that their entry into dollar selling window, where already been implemented,” pointing out that “mechanisms also include work on the application standards and international compliance requirements, particularly in the application of the principle of know your customer to verify the sources of funds and legitimacy, where he was informed banks and the conversion of these requirements, where censorship is taking place and oversee the implementation and training and qualification of cadres working. ”

He Keywords that “the bank has provided financial Labour Organization (FATF) action taken to combat money laundering and financing of terrorism,” stressing that “the actions taken by the Central Bank of Iraq, which led to eject Iraq from Category gray of the organization.”

Keywords and pointed out that “the Bank Enter accredited international standards by an international auditing firm for the classification of financial and banking institutions, including ensure compliance with the requirements of the compliance of the law against money laundering and terrorist financing for the year 2015, where it will be applied to the beginning of December next.”

And on the application of the process of deleting the zeros of the Iraqi currency, confirmed the Keywords, that “the Central Bank of Iraq has not set a date for the deletion of zeros from the currency dinar,” noting that “It is dependent on the availability of appropriate conditions, including the general stability in the country.”

He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical formatted when deciding deletion.”

The economists see, that the deletion of zeros from the Iraqi currency trend “sensitive and dangerous” in a situation where the country is going through, and while others stressed that the process is left to the decision of the Central Bank of Iraq only for being on the monetary policy of the country, lawmakers stressed the need to be the process of deleting zeroes in accordance with the proper procedures and techniques.

Iraq has signed in the (29 August 2016) was the first agreement of its kind between the Federal Reserve and the US Treasury on the one hand, and the Central Bank of Iraq, on the other hand to monitor the dollar shipments and ensure the prevention of the arrival of these funds to illicit destinations.

Read More: http://www.dinarupdates.com/showthread.php?43999-Keywords-our-agreement-with-the-United-States-aims-to-prevent-the-financing-of-terro&p=165825#post165825

______________________________________________________________

Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
______________________________________________________________

CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1256.111	1255.483
British pound	GBP	1491.802	1491.056
Canadian dollar	CAD	886.655	886.212
Swiss franc	CHF	1166.831	1166.248
Swedish krona	SEK	127.922	127.858
Norwegian krone	NOK	140.147	140.077
Danish krone	DKK	168.831	168.746
Japanese yen	JPY	10.332	10.327
Special Drawing Rights	SDR	1599.636	1598.836

Indicative rates – 12.04.2016

http://www.cbi.iq/

If you found this blog, our website or chats helpful – Forward it to a friend!! We couldn’t do it without you!! Thanks – BGG!!

www.DinarUpdates.com

Welcome to the Dinar Daily NEWS Blog. For regular Dinar News Updates, Dinar to USD listings, Iraqi Dinar info and Dinar info – THAT MATTERS!! This is a good place to start for your Daily Dinar Recap – if you are a Dinar vet or just looking for the current Dinar Value – Welcome.

Word for the day…

Mrs. BGG

Iraqi Dinar/Dollar auction 12-01-16 (most recent listing)

Currency Auctions Announcement No. 3330

This daily currency auction was held in the Central Bank of Iraq on the 12-01-2016

The results were as follows:

DETAILS	NOTES
Number of banks	32
Number of remittance companies	15
Auction price selling dinar / US$	1182
Auction price buying dinar / US$	—–
Amount sold at auction price (US$)	149,564,455
Amount purchased at Auction price (US$)	—–
Total offers for buying (US$)	149,564,455
Total offers for selling (US$)	—–

More: http://dinarupdates.com/observer/
______________________________________________________________

There is one source, O Athenians, of all your defeats. It is that your citizens have ceased to be soldiers. – Demosthenes

*** Current News ***

Dinar Updates – “The After Call!!”
from Wed. nite – Nov 30th
w/RCookie, Mr White & More!!
Click-N-Listen!!

Smart phone user link – Click here

rcookie (Dinar Guru) –  JUST READ THIS HEADLINE… “Jubouri: Parliament ongoing legal legislation in which they can change the reality of this country“   NUFF SAID…

Read More: http://www.dinarupdates.com/observer/

Speaker of Parliament adheres to pass the budget session today, even if held an extra session

East News – A parliamentary source revealed, on Thursday, on the insistence of House Speaker Salim al – Jubouri, to pass a federal budget law during today ‘s meeting.

The source said in Tbart to’alcherqah News’, said that ‘Parliament Speaker Salim al – Jubouri, adheres to pass a federal budget for the 2017 law during the parliamentary session for the day, so that was an extra session was held in the evening.’

Alsharqiaa.com

Kaperoni (Dinar Guru) –   Article:  “Keywords: our agreement with the United States aims to prevent the financing of terrorism, money laundering and delete deferred zeros”  Quote:  “…the bank will start applying the certified standards internationally in this regard the beginning of December next, with the exception that the process of removing zeros from the local process requires the availability of appropriate conditions, including the general stability in the country, he pointed out that the bank continues to technical preparations in this regard.”   …the CBI is stating, were not ready to delete the zeros yet, but we are moving the banking system forward to engage with the global banking system.  Does anyone see the importance of this?  It is another clear sign that the CBI has no intention to LOP the dinar.  If they did, they would certainly do it prior to bringing the world’s financial system into play. Stating it as they do, IMO only confirms that they intent to raise the value of the dinar as we have stated for years.

Read More: http://www.dinarupdates.com/observer/

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rcookie   …ALAK….SALEH AND FINANCE COMMITTEE MEMBERS HAVE OUTLINED 7 LAWS IN ADDITION TO THE INVESTMENT LAW AND OTHER ECONOMIC & FINANCIAL ACTS IN NEED OF AMENDING… 
1. CENTRAL BANK LAW NO. 56 (2004)
2. FEDERAL BANKING LAW NO. 94 (2004)
3. COMPANIES LAW NO. 21 (1997)
4. IRAQI STOCK EXCHANGE LAW NO. 74 (2004)
5. FINANCIAL ADMINISTRATION ACT
6. INTEGRITY COMMISSION ACT
7. PFM LAW AMENDMENT & INCORPORATION TO 2017 BUDGET LAW

Read More: http://www.dinarupdates.com/observer/

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Parliamentary Finance re – codification of the final draft of the budget law

BAGHDAD – The Journal News – Parliamentary Finance Committee began re-codification and tabulation draft of the budget bill, again to put to the vote in the parliamentary session on Thursday.

The committee member said Abdul Qader Mohammed in a press statement, Wednesday that the overall budget debate is over, and has reviewed and changes to the items that were added to the paragraphs of the draft budget law.

He noted that the remaining part we only have regard to the new proposals, which will be added to the budget later after a meeting of leaders of blocs and the Presidium of the parliament with the committees concerned.

He added that the Finance Committee began re-codification and tabulation draft of the full budget of the new exposure draft in the parliament session on Thursday, noting that the committee will be handed a copy of the final draft of the budget to the political blocs to show recent observations and the possibility of adding them before the voting session date.

He said the budget received from the compressed and reduced government basically, did not find an outlet appropriate parliamentary committee that can put its mark on the legislative bill.

The House of Representatives postponed a vote on the draft general budget of the federal law in 2017 to its slated for Thursday, until the completion of the terms of the Finance Committee bill discussions.

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Keywords: our agreement with the United States aims to prevent the financing of terrorism, money laundering and delete deferred zeros

Long-Presse / Baghdad – The governor of the Central Bank and the Agency on the Keywords, on Wednesday, that the agreement signed by the United States aims to cut off funding for the organization (Daesh) and other “terrorist organizations and prevent money laundering,” and pointed out that the bank will start applying the certified standards internationally in this regard the beginning of December next, with the exception that the process of removing zeros from the local process requires the availability of appropriate conditions, including the general stability in the country, he pointed out that the bank continues to technical preparations in this regard.

Ali said the Keywords, in an interview to the (long-Presse), “The first agreement of its kind between the Federal Reserve Bank and the US Treasury on the one hand and the Central Bank of Iraq, on the other hand, entered into to control the dollar remittances and ensure the prevention of access to illicit destinations,” noting that those “The agreement includes cooperation, coordination and exchange of information and financial data relating to the sale of foreign currency and circulation.”

He added Keywords, “The agreement aims to prevent the arrival of foreign currency to Daesh and terrorist organizations, by ensuring and verifying that the financial and banking institutions that you purchase does not involve money laundering or terrorist financing,” adding, “The control mechanisms include a number of the most important procedures , building databases and integrated electronic system that collects dollar selling window operations rather than paper processes. ”

He said the central bank governor and the agency, that “mechanisms also include the introduction of a program (OFAC List) to verify that the persons and entities prohibited to deal with them globally and to ensure that their entry into dollar selling window, where already been implemented,” pointing out that “mechanisms also include work on the application standards and international compliance requirements, particularly in the application of the principle of know your customer to verify the sources of funds and legitimacy, where he was informed banks and the conversion of these requirements, where censorship is taking place and oversee the implementation and training and qualification of cadres working. ”

He Keywords that “the bank has provided financial Labour Organization (FATF) action taken to combat money laundering and financing of terrorism,” stressing that “the actions taken by the Central Bank of Iraq, which led to eject Iraq from Category gray of the organization.”

Keywords and pointed out that “the Bank Enter accredited international standards by an international auditing firm for the classification of financial and banking institutions, including ensure compliance with the requirements of the compliance of the law against money laundering and terrorist financing for the year 2015, where it will be applied to the beginning of December next.”

And on the application of the process of deleting the zeros of the Iraqi currency, confirmed the Keywords, that “the Central Bank of Iraq has not set a date for the deletion of zeros from the currency dinar,” noting that “It is dependent on the availability of appropriate conditions, including the general stability in the country.”

He stressed the central bank governor and the agency, the need to “ensure the success of the process of deleting the zeros requirements before starting out, so the central bank will continue technical preparations in order to be practical formatted when deciding deletion.”

The economists see, that the deletion of zeros from the Iraqi currency trend “sensitive and dangerous” in a situation where the country is going through, and while others stressed that the process is left to the decision of the Central Bank of Iraq only for being on the monetary policy of the country, lawmakers stressed the need to be the process of deleting zeroes in accordance with the proper procedures and techniques.

Iraq has signed in the (29 August 2016) was the first agreement of its kind between the Federal Reserve and the US Treasury on the one hand, and the Central Bank of Iraq, on the other hand to monitor the dollar shipments and ensure the prevention of the arrival of these funds to illicit destinations.

Read More: http://www.dinarupdates.com/showthread.php?43999-Keywords-our-agreement-with-the-United-States-aims-to-prevent-the-financing-of-terro&p=165825#post165825

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Iraq:

Letter of Intent, Memorandum of Economic and Financial
Policies, and Technical Memorandum of Understanding

06192016loi
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CURRENCY	CODE	SELL	BUY
US dollar	USD	1182.000	1180.000
Euro	EUR	1257.057	1256.428
British pound	GBP	1471.826	1471.090
Canadian dollar	CAD	880.381	879.941
Swiss franc	CHF	1165.336	1164.753
Swedish krona	SEK	129.029	128.965
Norwegian krone	NOK	139.379	139.309
Danish krone	DKK	168.951	168.867
Japanese yen	JPY	10.517	10.512
Special Drawing Rights	SDR	1600.144	1599.344

Indicative rates – 12.02.2016

http://www.cbi.iq/

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