Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Across the plan to restructure the Iraqi banks to 2013

An adviser to the World Bank on Tuesday a plan to restructure the financial system of Iraq was postponed to 2013 because of delays in signing contracts and foreign officials to postpone trips to Iraq because of security concerns.

And decided to Iraq in 2006, restructuring the banking sector to allow direct investment in banks and get rid of the heavy debt burden on major banks owned by the state after decades of war and economic isolation.

The main objectives of the program is to restructure the two largest Iraqi state-owned and two Rasheed Bank and the Bank of Mesopotamia and the restructuring of the Audit Department at the Central Bank and the development of the private banking sector.

Said Majid picture unit manager project management of the Prime Minister and Advisor to the World Bank he was supposed to complete the plan by October, in October 2010 but postponed to June 2013 because of the security situation in Iraq and delayed measures the signing of contracts by the World Bank and the Iraqi government.

He said the external debt and internal Bank of Iraq $ 28 billion debt, while Rasheed Bank, one billion dollars. The government borrowed most of the foreign debt owed by the banks. He said that the picture of contracts restructuring programs and training has been delayed about six months because the experts were not ready to come to Iraq because the security situation. He added that the program crashes also because of the failure of policy makers to take decisions on the actual implementation of the plan. He said he did not oppose a restructuring, but professionalism is absent, as well as a true understanding of the problems.

He said that the picture of focus in 2011 will be the implementation of training programs for departments such as the Audit Department at the Central Bank and the unity of management of each branch of the Rafidain Bank and Rasheed Bank. He said that changing the organizational structure will be a priority and that he was also signing contracts with foreign companies for this purpose and will start work early next month. He added that the main objective of the restructuring is to reach a sound banking system because banks and sophisticated five state-owned controls about 90 percent of the entire banking sector activities.

He explained that the picture of the restructuring plan also aims to transform the Iraqi banks to other financial companies, such as specialized development banks and Islamic banks to encourage investment and development of the real economy.

He said that of the big problems that Iraqi law does not allow banks to invest directly in the real economy on behalf of others. He added that he expected to take years to change that one.

http://translate.googleusercontent.c...MdJWCXhqJh0f0g

Wamar U.S. company willing to invest in the energy sector and health in Basra

searched Wamar U.S. company with the head of the investment fact investment in Basra province, Basra, and ways to enter the private sector and opportunities in the electricity sector and health.

And the head of health services in the company Jeffrey Stith seek to set up projects in the electricity sector, health and material processing and the development experiences of Iraq, adding that the most important priorities is the search for an Iraqi partner and coordination with government agencies and other departments in the province to obtain tenders.

Stith pointed out that there are a lot of U.S. companies looking for a mechanism to enter the private sector in Iraq.

For his part, expressed his chief of Basra Investment readiness to provide facilities and the possibility of coordination with government departments and agencies related to economic reality and investment for the preparation of studies and surveys contributing to knowledge of market needs and the various sectors saying we can not establish long-term projects without a strategic plan for projects.

And that there are two opportunities for the establishment of power stations in the FAO and the city's sports need to be efficient, transparent foreign companies, pointing out the possibility of granting vacation investment to build power stations, capacity of 30 megawatts.

They also touched on the investment law and the system (7) and last instructions and benefits received by the investor when getting a vacation investment.

http://www.ipairaq.com/index.php?nam...onomy&id=35571

Iraqi Parliament to form committee to assess the performance of mobile company

the form of Iraqi Council of Representatives in session on Wednesday, a committee to assess the services provided by mobile phone companies operating in the country, namely, (Zain, Asiacell, Cork Telecom), according to a member of the Iraqi Council of Representatives.

The MP said the list of the Kurdistan Islamic Union, the firstborn of his flesh a friend, told the Kurdish news agency (Rn), that "one of the Vice-Iraqi list submitted a memorandum to the presidency of the Council, he pointed out that the mobile company operating in Iraq, do not work according to its commitments."

The friend said, "Vice said claimed that the telecom companies in Iraq, Zain and Asiacell and Cork Telecom, won the right to work during the bidding of the Iraqi government, and identified the duties and rights, but the services provided to citizens, not to the level required."

He explained that the "Presidency of the Council of Representatives decided to form a committee comprising a number of deputies, to follow up this issue and assess the performance of mobile phone companies and the services offered."

http://www.aknews.com/ar/aknews/2/218688/

Report: Iraq may double oil output, won't match Saudi production

A report by Royal Dutch Shell projected that Iraq's oil output would double over the next decade.

The report said Iraq could produce up to six million barrels per day given the completion of energy projects throughout the troubled Arab state.

But the report dismissed assertions by the Iraqigovernment that the nation's oil capacity could reach 12 million barrels per day, which rivals that of neighboring Saudi Arabia.

http://www.worldtribune.com/worldtri...0163_02_16.asp

Parliament votes against Iraqi President's proposal to increase number of his Vice-Presidents:

The Iraqi Parliament has voted to reject the Iraqi President's proposal to increase the number of his Vice-Presidents to four, in order to grant the 4th seat to the Turkomen community in the country, a Legislature for the National Coalition said on Wednesday.

"The Parliament members have voted to reject the proposal of President Jalal Talabani for the increase of the number of his Vice-Presidents from three to four," pointing out that "the Parliament's Legal Committee had failed to complete reading the text of the President's proposal due to the opposition of a large number of legislatures of the proposal," Ali al-Tamimi told Aswat al-Iraq news agency.

Noteworthy is that the Presidency's media office had announced on 7/2/2011 that President Jalal Talabani had presented a proposal for the Parliament to adjust the law on the Vice-Presidents, calling for the addition of a 4th seat and the nomination a Turkoman personality to occupy the post.

Meanwhile, a source close to the Parliament told Aswat al-Iraq that "there is an intension, along with talks carried out outside the Parliament Hall, to replace Khudhier al-Khuza'e, one of two candidates, presented by the National Coalition, for the Vice-President's post, by a Turkoman personality.

The Legislature of al-Ahrar (Liberals) bloc in the Parliament, Maha al-Douri, had demanded the National Coallition to replace Khudhier al-Khuza'e's nomination for the Vice-Presidents post, pointing out that 90 signatures had been collected by the Parliament members to form an investigation committee about the contracts, signed by the Education Ministry during the period when Khuza'e held the post of Education Minister in the previous cabinet.

http://en.aswataliraq.info/Default1....&id=141019&l=1

Municipality of Baghdad accused U.S. forces destroyed the capital and demanding one billion dollars compensation

Baghdad Municipality has decided to claim compensation in the U.S. Army billion dollars because of mistakes made by the non-observance of the work and plans implemented by the Secretariat in the capital, while the Minister of Construction and Housing Mohammed Darraji that it is possible the re-opening of the bridge of the Republic in central Baghdad today after the completion of rehabilitation. Baghdad Municipality, said in a press statement: that the U.S. forces "has transferred the beautiful city of Baghdad to the camp in a random and destructive, reflecting the deliberate overlooked and underestimated the simplest forms and formats of public taste."

She noted that the U.S. forces insisted at that time to work individually, ignoring dozens of appeals launched by the Municipality of Baghdad to stop these abuses, "but forces worked to disrupt Baghdad, and destroyed thousands of kilometers from the streets, without reference to the Secretariat."

She added: that the concrete barriers that were placed "under the pretext of security and requirements" caused the destruction of sewers, pavements, and water and green space, agriculture, and mechanisms for irrigation, as well as traffic congestion, noting that the rate has been raised from these barriers are not more than 5 percent.

The Secretariat confirmed: that of raising the barriers and repair what was destroyed from the sidewalks and paving, and water networks, sewerage and intentional destruction of fences on the streets, highways, and frequently, as well as the destruction of long paths of trees, palms and the roads cost the Municipality of Baghdad huge amounts of money could be spent on basic services.

It said that given the serious damage and the size of the consequent losses can no longer afford the Municipality of Baghdad demanded an apology from the American side the Secretariat for the people of Baghdad and the payment of such expenses as estimated by the technical authorities billion dollars.

The other hand, the Minister of Construction in a press statement: The Republic of the bridge will be technically ready for the opening in front of vehicles today, indicating that he was directing the work eat twice morning and evening for two days to complete the rehabilitation work as soon as possible.

He pointed out that the ministry has completed maintenance work on the bridge Sinak according to the technical specifications required, pointing out that the maintenance of the Republic and Sinak bridges are not acts of the ministry, but has been tasked by the Municipality of Baghdad and the Baghdad Operations Command, to prepare for the Arab summit.

He announced Darraji that the ministry is implementing a large number of construction projects the mission in the province of Baghdad, including two apartment blocks in the regions of Jihad and Sedea, and the building of the Baghdad province and expand the hospital, Ibn al-Bitar area Allawi and burns at Yarmouk hospital, as well as a number of other projects of public buildings for a number of State institutions.

The ministry closed the bridge of the Republic on the tenth of this month for maintenance work in it.

http://www.alsabaah.com/ArticleShow.aspx?ID=2742

Iraq plans oil, gas auctions in late 2011

Iraq aims to have another round of oil and gas licensing auctions during the fourth quarter of 2011, an Iraqi oil official said from Baghdad.

Iraq has had three rounds of oil and gas auctions since the U.S.-led invasion in 2003. It emerged from the last round in December 2009 with the confidence to say the country would one day rival Saudi Arabia in terms of oil production.

Increasing production at some of the fields, however, could mean overcoming some major technological hurdles in the war-torn country. Energy officials said oil production could reach 8 million barrels per day by 2018 if all goes as planned.

Energy officials in Baghdad said the central government has started procedures necessary to hold another round of oil and gas licensing auctions at the end of 2011, The Wall Street Journal reports.

Oil majors working in the county, like British energy company BP, Italy's Eni and Exxon Mobil, have contributed to a measured rise in production in the country already.

http://www.upi.com/Science_News/Reso...8891297856792/

Deputy U.S. Treasury Secretary: We are working on the development of economic sectors in Iraq

Deputy U.S. Treasury Secretary Neil Laughlin said the economic relations between the United States and Iraq is going through the task and the march of a thriving forward as she walked with confidence toward building economic partnership and the coming months, will raise the relations to the spaces of a wider economic cooperation. Wolin said (morning) that the United States committed to the terms of the strategic framework agreement through the provision of technical support to develop and update the sectors of the Iraqi economy, and human resources of Iraq and we are committed to providing administrative systems in advanced technologies in production as evidenced by the development of the economy and keep pace with the world. and economic areas of possible cooperation, said the energy sector and the private sector commercial and construction sector, financial sector and monetary policy is the most important sectors now move and effectiveness between the agenda of the U.S. labor - Iraq, there is today motionless large U.S. companies to work in these sectors, which could achieve great prosperity of the Iraqi economy. "Deputy Treasury Secretary: We are working at the level of energy to develop and increase the capacity of Iraq's oil and gas, while there is an increase in the terms of trade between the two parties, in addition to dialogues expanded in the construction sector and infrastructure, as we have come a long way in the talks aimed at attracting U.S. banks to operate in Iraq and support the pace of development and financing of private sector projects and investors, in addition to providing prompt service to customers of Iraqi citizens.

And by Neil Laughlin on optimism the development of Iraq's capabilities in monetary policy, and the Central Bank of Iraq is making confident steps towards playing a major role and hoped to move Iraq toward a stabilization phase, which operates independently and we appreciate the technical competencies working in it because of its systems and the performance of outstanding management.

He pointed to the role of the Ministry of Finance to build a good balance for 2011 is heading to approval as shown by information received from the Iraqi parliament, Iraq today is an active member of the International Monetary Fund.

He called on Deputy Secretary of the Treasury to trade Iraqi development of the law and mechanisms to attract investors and create an atmosphere more effectively to the investment environment of Iraq, and believed that Iraq had made great strides in this area and especially the commercial justice

http://www.alsabaah.com/ArticleShow.aspx?ID=2674

Iraqis angered over ration card compensations

The 15 000 Iraqi Dinar compensation for ration cards has spurred the anger of Iraqis who considered this initiative as demeaning.

The reaction of Arbil citizens to the compensation was not eased up as well. People urged the government on the other hand to reconsider the huge income difference between citizens and officials.

Kurdish politicians believe that the government underestimated the situation hoping to substitute money compensations with adequate ration cards. A number of economists said Iraqi government is trying to patch up the situation.

People’s protests in Baghdad and in the different provinces of Iraq led the government to reconsider the ration card system and pay off compensations. People however found these measures insufficient which spurred further anger in the streets.

http://www.alsumaria.tv/en/Iraq-News...ensations.html

Attorney Khalil told Mahma However: the parliamentary session in connection with contracts Kurdistan

Khalil said Mahma Kurdistan Alliance MP in an exclusive statement to "With" The meeting of the Iraqi parliament to be held this day, discuss a the oil contracts on the territory of Kurdistan without reference to the central government. Khalil added:

"We hope today's meeting of communication solutions to satisfy all parties, especially since the subject took a long time and must be resolved. He stressed that the meeting will discuss the oil and gas law.

http://www.mustakbal.net/ArticleShow.aspx?ID=2280