Archive for June, 2012

Central Bank wants Iraqis to drop the dollar in internal commercial transactions

The Central Bank has decided to remove three zeros from the dinar, a move it sees essential to strengthen local currency and tempt Iraqis to stick to it.

For months, the bank has been mulling the issue but only recently it said a decision has been made and it was a matter of time to translate it into action.

“The knocking out of zeros will save Iraqis using massive sums of paper money in their transactions,” said Central Bank Deputy Governor Mudher Saleh. Read more…

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Oil and Gas Commission: The oil and gas law effects the Constitution and is the cause of political crises

Exposed to oil and gas committee in the House of Representatives, Friday, its claim to speed up the approval of oil and gas law, the law usually Balakhtr after the Iraqi constitution.

A member of the Commission on oil and gas parliamentary Mchkta denominator for Read more…

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CBI: The transfer of cash reduced to 18 trillion dinars in June; Helped maintain price stability

CBI: System monthly payments over 18 trillion dinars 29/06/2012 14:04

Baghdad, June 29 (Rn) – The Central Bank of Iraq, Friday, that the system of monthly payments in Iraq exceeded 18 trillion Iraqi dinars, indicating that the system reduced the transfers of cash manually. Read more…

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Finance committee: Difficult to fund programs as oil prices drop below budget’s speculation

Recognizes the difficulty of the parliamentary financial implementation of the program of financial abundance 29/06/2012 08:57

Baghdad, June 29 (Rn) – approved the Finance Committee, the parliamentary Friday difficulty of implementation of the program that was agreed upon in the current year budget on the investment of funds availability of financial support of projects related to supporting people following a drop in oil prices in world markets. Read more…

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Economic Committee Member: Important to develop Iraq banking systems to boost investment process with international banks

Baghdad (news) .. According to a member of the Committee of Economy and Investment MP / National Alliance / Ibrahim Rikabi, the importance of developing the Iraqi banking sector through modern technological systems introduced to boost investment in the country. Read more…

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Allawi: The request to question Iraqi PM Maliki will be submitted to Parliament next week

Confirmed the Iraqi list led by Iyad Allawi, Wednesday, that the request for questioning Prime Minister Nuri al-Maliki will be submitted to Parliament next week, as expected, but “dare” to attend for fear of the files that will open against him, with the Sadr movement had not changed its position in this regard. Read more…

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Shahristani: Iraq has 11 percent of the total world oil reserves

Babinaoz (Reuters) – Deputy Prime Minister for Energy, Hussein al-Shahristani said Iraq has 11 percent of the total oil reserves worldwide. A statement of the office with him say in a lecture entitled «Iraqi contribution in the international response to the challenges of energy crisis» he delivered at the Indonesian foreign policy yesterday: that «Iraq has large stocks of oil and gas, as it has about 11 percent of the total global oil reserves, in addition to a large stock of gas will be invested in the coming years». Read more…

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Committee discussed the economy the CBI plan for 2012

BAGHDAD / JD / .. Committee discussed the economy, the Central Bank of the parliamentary plan for the year 2012. A statement issued by the Committee received / JD / copy of it: that “economic and investment commission had a meeting chaired by MP Ahmad al-Alwani, Read more…

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CBI: The countdown to the implementation of the project to delete the zeros did not start yet

BAGHDAD – Deputy Governor of the Central Bank of the countdown to the implementation of the project to delete the zeros did not start so far there is no unified vision on it. Read more…

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Member of the Economic Commission calls for accelerating the adoption of the (HCL) oil and gas law

BAGHDAD – and babysit – so I went back a member of the Commission on oil and energy and deputy state law Fatima Alzerkani discussion of a draft national oil company “as premature” and ascribed this to the delay in reading the law of oil and gas, which is supposed to submit to the reading and vote Read more…

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Deputy: lifting of restrictions on foreign investors will develop the national economy

Deputy: lifting of restrictions on foreign investors will develop the national economy   praised the Finance Committee MP Abdel Hussein al-Yasiri, the decision of the State Department to lift the restrictions that were imposed by the Iraqi banks during the former regime to European investors because it will encourage the entry of European firms to invest in the country. Read more…

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Iraqi economy shows signs of growth

of the Iraqi economy shows signs of life remained brisk increase achieved in its oil industry and the decline in violence. Iraq has been able with the help of international oil companies to raise oil production to 3 million barrels per day after that was no more than 2.5 million barrels per day before the US-led invasion in 2003. And expects the Iraqi government to expand this capacity to reach 10 million barrels a day within six years, something that will put Iraq in the ranks of major oil producers in the world.

The streets of Baghdad are filled with cars of the latest models, restaurants and Read more…

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Banking offices in Iraq .. Absent control and attended the chaos

Small-sized offices, but its role in the economy exceeds that size hundreds of times those deployed in abundance in all parts of Kurdistan region and specifically in Erbil .. That is because of its dealings in foreign currency of various nationalities, especially “Lord of the currency” dollar .. Read more…

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CBI confirms the stability of the dinar exchange in the month of Ramadan

BAGHDAD / Center Brief for the Iraqi Media Network – The Central Bank of Iraq that the exchange rate currency exchange rate of the dollar against the Iraqi currency exchange rate will stabilize in the month of Ramadan because of Milan Asar food in the world to decrease, not increase.

The deputy governor of the Central Bank of the appearance of Mohammed Saleh (Center Brief for the Iraqi Media Network) that “the central bank monitors the policies of the exchange rate of foreign currency to local currency, which indicates that the exchange rate of foreign currency before the local will be stable in the month of Ramadan, because the food in all countries of the flag indicates to the decline in prices. “

“The month of Ramadan in the summer differs from winter to provide agricultural products and fruit in Iraq, leading to lack of food price rises significantly.”

And that “the central bank can be equal to the exchange rate of the dollar against the dinar, but the only reason that Iraq’s oil reserves are very Mzachma which has implications for equality of these two currencies.”

And called on the Finance Committee in the House of Representatives of the Iraqi Central Bank to lower the exchange rate of foreign currency to reduce the high prices of commodities and goods in the month of Ramadan.

www.imn.iq

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Economic Committee: Parliamentary system cannot work without modifying tariff

Date: Thursday, 28-06-2012 01: 19 pm

Baghdad (News) … Head of the Economic Committee of the Iraqi list MP//Ahmad Al-alwani, the Customs Tariff Act needs to be adjusted, and can work only after making some amendments.

He said Al-alwani (News Agency news) on Thursday: the Customs Tariff Act needs to be amended and for ripening the economic situation in the country and it cannot work without amendment, stating: the Commission will amend the law to establish new fees in line with the economic situation.

He added: that the Iraqi market has a lot of merchants who store large items and sell them at a high price at a time when people need them to postpone law’s argument, stating: the tariff is an important topic of vital and cannot be imposed by the State of Iraq without levying fees on the loan without goods entering Iraq Gali.

He denied rumors that worry Al-alwani: Iraqi citizens by increasing the prices of goods while delaying tariff act nor the veracity of these claims, but the law needs to be amended and will not be any increase in prices.

ikhnews.com

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Neighboring countries and the government behind the postponement of the application of customs tariff law

Accused the parliamentary Economic Committee, neighboring countries and beyond the government to postpone the application of customs tariff law No. 22 for the year 2010 to be operational in the first of next July, saying the decision to postpone non-constitutional or legal Read more…

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6-28-2012: IRAQI DINAR GURU GUESSES!!!

6-28-2012 Intel Guru Bluwolf IT [GOI] HAS BEEN IN PLAY FOR MORE THAN 3 YEARS NOW, IT HAS BEEN ANNOUNCED…THE MINISTERS HAVE BEEN IN PLAY FOR MORE THAN 2 YEARS…THE HCL AND EBRIL IS IN PLACE FOR MORE THAN 1 YEAR…CHAPT 7 HAS BEEN LIFTED, UN NOW AWAITS FOR THE OFFICIAL INTERNATIONAL RELEASE TO CLOSE THE ISSUE.

6-28-2012 Newshound Guru Bondlady Salih stressed that the economic power of Iraq’s financial and of higher bank reserves and balance of payments surplus of government should be reflected on the strength of Iraqi dinar which in turn will be able to reduce inflation in the country…the only way i can see that happening is they have to set a new rate…we saw what 1170 to 1166, it did NOTHIN really so that dont work just to move it a few pips…so it would have to go a lot better than that if its to curb inflation…when it hits 1000, i think thats when he changes monetary policies, imo, an lets supply an demand drive it up from there. Read more…

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Ibrahim absolute: calling for an end to money laundering

Ibrahim absolute: calling for an end to money laundering

Babylonian News / Baghdad

Thursday, 06/28/2012 am 11:15

According to a member of the Finance Committee MP for the Iraqi List, Ibrahim al-Mutlaq, the importance of the enactment of the Anti-Money Laundering Iraq to save the local currency of the degradation, indicating that the phenomena of money laundering and the smuggling of foreign currency are still ongoing in the country must eliminate them. Indicating Read more…

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Iraq: Maliki has to understand that democracy is two-way

Iraq: Maliki has to understand that democracy is two-way

Babylonian News / Baghdad

pm 12:02 Thursday, 28/6/2012

Commenting on the invitation of Prime Minister Nuri al-Maliki, in an early election, and said one of the keynote speakers on behalf of a coalition of “Iraq” that if the Prime Minister a request to resolve the House of Representatives, and voted by the acceptance of the “Iraqi” respect this option is constitutional. He added that the Iraqi with any the option of a constitutional, but it also calls for the Prime Minister that understands Read more…

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National Alliance renews its support for the Maliki government

National Alliance renews its support for the Maliki government

28.6.2012  9:56

BAGHDAD / electronic integrity

The head of the National Alliance, Ibrahim al-Jaafari, on Wednesday, the continued support of the coalition government of Nouri al-Maliki, and to pursue dialogue with other political blocs to resolve outstanding political problems, as pointed out that the alliance asked the prime minister to report on the achievements of the government.

Jaafari said in a press conference after the meeting of the National Alliance, Read more…

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